Several friends and I are on the very preliminary stages of looking into housing for purely investment purposes in South Euclid and Euclid. I've looked at some websites for information on the communities and asked a few people I know about what they think, to mixed results but leaning on negative, in particular with Euclid.

 

We're not doing any of that Section 8 garbage; rather, we want real tenants (preferably families) who plan on living in and taking care of these properties for the long term. No flipping here, folks, as we're in this for the long term ourselves.

 

Since we want families to reside in our properties - maybe we'll get 7 or 8 houses between the three of us, possibly more - our biggest concern is what the schools are like in these areas? Are they declining or stable? And what about the kinds of residents you generally see - are we talking about single moms, unruly kids, families, elderly, a mix? Is it disproportionate? Can you walk along the streets at night without harrassment or worse, particulary in Euclid?  How about the overall momentum of the cities - do you feel on a personal level these cities would/wouldn't make for good longterm investmens? Things of that nature.

 

I know South Euclid a little but Euclid is a bit more of a mystery to me.

 

Thanks!

No one's answered this yet so even though I'm not intimately familiar with Euclid I'll take a stab at it.

 

Euclid has all the problems South Euclid has, plus.  Particularly south of the Conrail tracks.

 

Even if you're not going to go the Section 8 route, the owners of adjoining properties are already doing so.

 

I'm not thinking it's a good investment.

Agree with E Rocc.  You be better off staying in an income diverse community such as Cleveland Heights (one with  varying degrees of housing which could be somewhat sheilded from what is happening to the less diverse housing areas (like Euclid)).  There are some great looking parts of Cleveland Hts and Shaker Hts that have deteriorated somewhat, yet not that far gone/very close to much pricier housing. 

 

I would expect that the greatest chance is with the employment of University Circle and the Colleges, that there will be more of a future market for homes in these areas.  I think things may be similar for some of South Euclid, but Im not as familiar with that area.         

 

*Schools being the other thing though, I guess I dont know what to tell you, since schools pretty much always go hand in hand with what is happening in the community.  Most realtors would be happy to talk to you about this. 

 

Ours indicated that Schools were the biggest issue for Cleveland Heights, which is why we would be able to get such a nice house there affordably (and heck we dont have kids so what do we care), but on the otherhand, unless we are getting a bargain in the first place, may have trouble getting our money back out of it if we were to sell down the road. 

 

I think the cheap housing everywhere has really thrown things out of whack in NE Ohio.             

Thank you for the responses. Food for thought.

Its just that in a region with an overabundance of really affordable housing, the areas with the cheapest housing are going to be areas with the most future issues.  Also with that abundance, and once an area goes beyond a certain point, it would take a lot and a long time for it to come back (if indeed it ever does) 

 

Look at areas that would be within a viable area (city with a diversity of housing and incomes, housing that has character you wont find in many of the 1950's suburbs, etc...)     

 

There are some very interesting houses in fairly stable areas of Cleveland Hts selling for next to nothing..  Some may need some work of course. 

 

To protect your investment, stay away from streets that have become predominently rental and certainly section 8. 

One other point, regarding Euclid.  I'm from Maple Heights, which is also divided by railroad tracks.  For a long time, the tracks were a sort of dividing line between typically inner city problems such as overly unruly kids and out and out crime.  The local police blotter read like Mayberry RFD on the west side and East Cleveland on the east for years.  That's begun to change. 

 

If you want to invest in rental properties, also consider areas with larger yards and require that the tenants do the upkeep.  Walton Hills has larger yards and it's not only seemed immune to the spread of Section 8, it appears to have blocked it from the Nordonia Hills communities.  You might also look at Valley View and such....but Walton Hills is likely to be a bargain because of the Bedford schools.

Thanks. Sad to say I don't know anything about Walton Hills. Will have to google that one.

 

 

Thanks. Sad to say I don't know anything about Walton Hills. Will have to google that one.

 

I meant it more as an example.  It's small, and about to lose its biggest taxpayer (the Ford stamping plant). 

I can't comment in too much detail about either city,  but I wouldn't say its a bad investment right off that bat just based on the cities.  You make your money in real estate when you buy, not when you sell.  So if you are buying these houses for the right price and you have a clear understanding of what you can rent them out for, then there is no reason that it has to be a bad investment. 

 

All that said - I personally wouldn't invest in those areas (not that I'd be 100% opposed to it).  I prefer areas I know better - certain areas in the city of Cleveland, Heights area, Lakewood.

Well, but with such a spread of rental housing and section 8, you really do want to watch the area or community you are investing in..

 

With so many rental and even section 8 options out there now, why would a good tenant rent in an area that is falling and unstable or even dangerous and with bad schools (or in the process of declining) if they there are better options available (Theres planty in Lakewood, Cleve. Hts. etc....).   

I think thats way more of an issue there than most people realize. 

So South Euclid is really that unstable? Part of the reason I was thinking of there is that it's always been this wonderful middle class community, at least up to the late 90s, but then I start hearing mixed things the last 10-11 years. Do these problems extend to Brush?

I dont think anybody commented on South Euclid (but thought it was faily stable, but likely some pressures).  I dont know much about it, but will try to look at my stats and projections when I have a minute.

This was on a real-estate board that I read.  Again I dont know much about South Euclid...

 

Where are the best areas in south euclid and cleveland hts for under 100,000 with regards to resell value and decent neighborhoods?

 

There is really no good area in South Euclid; I am a real estate investor in the Heights for 4 years now. Under 100K in the Heights; try the streets running South toward Shaker starting at Dellwood, past the library, down to Monmouth. Also, Dartmoor to Shaker, going East toward Taylor Rd. These tend to be small family homes and lots of first timers. Good Luck; if you need more advice, feel free to ask me!

 

 

Hey, thanks willy. I appreciate that.

The houses you will get in SE for under 6 figures will either be along the cleveland border or are small post war homes that don't fit the desires of the modern family.  Nor is SE a good investment to try and attract stable, long term tenants.  The non section 8 renter crowd is in all likelihood mostly composed of students from NDC and JCU.  Section 8 tends to be attractive to landlords here because they know the check is coming and there are some additional built in protections TMU re damage to property.  The schools are not bad, but they are really no better than average.  If you don't like diversity, then they are bad.  The biggest con with them is the recent consolidation of the elementary schools.  There used to be 6, but know there is only 3 in the entire SEL school district.  FWIW, the best (translation - most attractive to your target audience) parts of the city tend to be towards the south and east.  Forget about anything north of monticello

 

In Euclid, the northeast (close to lakeshore) and southeast (off chardon, south of euclid blvd) would be the preferable areas for your target market.

I think a key factor in your decision making is how long you plan to hold these properties.  If you're looking 40-50 years then maybe no, but for the next 10 or 20,  I think some SE neighborhoods are solid enough that you could make your money back a couple of times over if you scoop up the right house at the right price.

 

My personal preference, learned  from our family owning rentals, is simple-maintenance homes - ranches on slabs in decent school districts are my favorite (like Brook Park on the west side).  Less upkeep, no leaking basement, little room to stockpile/hoard, less likely to discover that 10 people are living in your house when the lease is for 3-4.

 

Old, monstrously big houses scare the shit out of me - huge families, expensive upkeep, and God knows what's been done by previous owners over the past 80+ years.

 

I would take a targeted approach and find a neighborhood near you, and buy in it.  You save yourself a ton of hassles if all your rentals are in proximity to each other, and to where you live.  My cousin or I drive past every rental at least once a month, and go inside at least twice a year to "change your smoke detector batteries for you" and "replace your furnace filters" which is really an excuse to see what is going on in there.  Hands on landlording is a must - nobody is going to take care of your investment like you will.

That's a lot to think about.  Thanks everyone!

Oh my god. I can't believe people are telling Tbideon about city's they know nothing about. I LIVE in South Euclid and am ready to tell you the TRUTH. This forum spews out a lot of "opinions" as "facts", which is such a shame.

 

Forgive me for any typo's, I'm going to give as much info. in as little time as possible. Here goes...

 

I own a 2-family home in Lakewood that I originally bought to live in the upper half and rent the downstairs, all the while getting to own a house in a really cool inner ring suburb that is safe. I lived in Lakewood one year before I found an amazing house in South Euclid. I bought it before the financial crisis at a still great price because it was a "short sale", which is almost always a good deal if you do it right.

 

So, I have lived in South Euclid for 4 years and love it.. MORE than Lakewood. I won't say I love SE more than Lakewood, but I love the EASTSIDE as a whole so much more. When you combine the amenities of Cleveland Heights, Shaker Heights, University Heights, South euclid, and Little Italy, you have a hell of an area to spend your life.

 

Schools: I currently have no children but if I did, I would send them to private schools, no matter where I lived. But, I have friends that went to Brush and it is considered a fairly decent school district, which it shares with Lyndhurst. South Euclid's housing stock is majority small homes built post-WWII. They have an urban feeling due to the street after street of house after house, similar to what you'd find in Euclid or Parma. Those homes range from under 100k to 130k. There are almost no doubles or apartment complexes in the city, save for just a handful in odd ended areas. South Euclid has a number of areas that do not fit the small bungalow style - mostly the eastern side of the city. The entire area around Notre Dame is full of a variety of housing. I live on South Belvoir, and it is full of contemporary houses as well as several arts and crafts style mansions with sprawling yards. Houses on Belvoir, between Mayfield and Cedar range from 100k-600k. The easternmost part of SE has large variety of homes, with the nicest ones being along the perimeter of Mayfield Country Club, going for as much as 1million (at least that's what one house is being offered at), while streets nearby are 150k-ish. The area near the Euclid Creek Reservation has a number of newer homes that resemble those found in Richmond Heights, especially off of Anderson Road. There have been several new developments, one at Anderson and Green (they chopped down nice woods for these), as well as a subdivision behind Alesci's off Mayfield, and a small cul-de-sac development off of Green called Novicky Court. Being new housing, they will be priced above 200k. I don't ever see boarded up houses, never once in my life in SE. I have seen a lot of houses for sale however in the area between Cedar and Mayfield near Warrensville Center. I assume this may change with SE's green initiatives in this part of the city, both the urban gardens and the eco-housing guidelines. Their proximity to Oakwood may change their values too.

 

Crime: I have never experienced or witnessed any crime in SE. The worst thing that has happened was the Bexley Park fire which was done by teens who were caught. I read the crime blotter regularly and really feel SE is a very safe suburb. When a crime or traffic accident does occur, be prepared for CH and UH cops to assist and help each other, I have seen that happen 2 times with accidents near Cedar-Warrensville. A UH cop once told me the 3 cities work together when there is a problem in that area because the 3 cities intersect near Cedar Center North.

 

Access: Very close to I-271 (<10 minutes), direct route to University Circle in 10 minutes. Supermarkets: Giant Eagle on Mayfield, Giant Eagle Legacy Village, Heinen's Green Road, Aldi's Mayfield, Whole Foods Cedar Center, Dave's Severance, and Zagara's on Lee. College's: Notre Dame (<2 minutes), John Carroll (<5 minutes), Case 10 minutes, CIA 10 minutes, Ursuline 10 minutes. Department Stores: Beachwood Mall (<10 minutes), Legacy Village (<10 minutes), Richmond Mall (<10 minutes), Target + Macy's Cedar Center (5 minutes), Severance Circle (5 minutes). Movie theater's: Cedar Lee (10 minutes), Severance (5 minutes), Richmond (10 minutes), Eastgate Phoenix (10-15 minutes). Post office: GREEN ROAD near Mayfield. Coffee Shops: Starbucks @ Cedar/Warrensville, Phoenix @ Mayfield/Green, Starbucks @ Mayfield/Lee, Starbucks @ Legacy Village, Espresso bar at Whole Foods, Phoenix on Lee, and Arabica at Fairmount Circle.

 

Many of these amenities are directly within SE's borders. Other stuff is so close it doesn't even matter. I often think of South Euclid as being right in the middle and that is why Heights Observer ranked SE the #2 suburb in NE Ohio.

 

Traffic: Heavy on Cedar and Mayfield during evening rush hour but still 2 lanes in each direction and lights are engineered to keep cars moving. Parks: Bexley, Euclid Creek, the future Oakwood, SELREC. Libraries: SE-Lyndhurst on Mayfield, University branch on Cedar near Cedar Center, CH branch on Lee, Beachwood library on Richmond, Coventry Library. Churches: plenty of those and too many to name. Tennis courts: Cain Park, SELREC, Purvis Park on Cedar Road. Rec Centers: YMCA South Euclid-Lyndhurst; Urban Active at Legacy Village, JCC on Richmond, Bally's at Severance.

 

Demographics: Wide variety of white, black, and Hispanic, as well as a large student population from Notre Dame and John Carroll. Large number of Jewish residents as well as Italian, and Russian. Overall SE is a middle class inner ring suburb and is not known for wealth or extravagance. It's also not known as a slum or a bad place to live.

 

The sidewalks are plowed by the city. I can't say that was a perk of living ANYWHERE else in my life. The streets are plowed, the leafs are picked up, recycling is offered, and the streets are clean.

 

Tbideon, as for people I see walking around: I see joggers all the time - students mostly, but I also see a ton of people walking dogs. Keep in mind I live close to Notre Dame and John Carroll. But I still see people jogging on the streets where the post WWII houses are located. There is also a dog park which I see a lot of people at daily. They are normal middle class people who look like teachers to me more than anything.

 

99% of the city has paved sidewalks. There are no bike lanes except at Euclid Creek. There is little to no industrial development in SE. The majority of businesses are retail along Cedar and Mayfield.

 

I have 3 friends who live in South Euclid, in various parts of the city - one who lives on Green just south of the Cleveland border; another who lives on Linell near Mayfield (Mr. Hero), and one who lives on Green near Mayfield. They all seem to be fine too. I think the biggest problem with SE is that it is racially diverse and very much integrated at the same level as CH and SH. I think anyone who can't handle diversity will have a big problem with South Euclid. It's sad, but it's reality that the color of skin dictates where people will and won't live. For me however, I have never felt more at ease knowing I am not in a community of one race.

 

I hope this info. helps. I am willing to answer any other questions you may have. Please remember, I am a resident who CHOSE to live here. I am not talking about a city I know nothing about. You won't find me reviewing Fairview Park. :)

Wow, thanks for all that info!