Colombus & Cleveland, Ohio

Ohio is one of the most attractive real estate markets in the Midwest.

At Greenroads, we focus on Columbus and Cleveland, two cities that offer strong rental demand, affordable entry prices, and long-term growth potential.

Columbus stands out for its steady population growth, diverse economy, and vibrant rental market.Cleveland, on the other hand, offers lower property prices and higher yields, making it a great market for investors looking for strong cash flow.

Together, they give our clients the chance to balance growth and returns within one state.

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Why Colombus:

While Columbus is slightly more expensive than Detroit, it still offers affordable entry points compared to many major cities.

Investors can find single-family homes in decent areas for $150,000–$250,000, with strong rental demand.
Strong Rental Demand & High Occupancy Rates: Columbus has a growing population, driven by Ohio State University (OSU), a thriving job market, and a strong economy.
The city has a balanced mix of Section 8, workforce housing, and middle-class rentals, offering flexibility for different investment strategies
Pro Landlord state:Ohio, including Columbus, is landlord-friendly, making it easier to manage properties and enforce lease agreements. Key points include:
Evictions: The eviction process is relatively quick (usually 30-45 days for non-payment of rent
No Rent Control: There are no statewide rent control laws, allowing landlords to adjust rent based on market demand.).
Columbus: Growth + StabilityWhat makes it attractive
Population growth: Columbus is one of the few Midwest cities still growing fast (+1.38% in 2024).
Despite higher interest rates, prices are still up ~3% year-on-year
Low disaster risk: Ohio is one of the safest states in terms of natural disasters no hurricanes, earthquakes, or wildfires driving up insurance costs or threatening property values

Risks: New construction: Lots of new apartments coming online → short-term vacancy and rent concessions in some submarkets.Intel delay: The big upside is now expected closer to 2030 instead of mid-2020s.

This is an example deal with real numbers: Livingston Ave Columbus, OH 43205

Property Type: DuplexNeighborhood Grade (subjective): C+Deal Overview

Purchase Price: $240,000

Loan-to-Value (LTV): 60%Loan Amount: $144,000
Renovation (Unit A): $30,000
Closing Costs + My Fee: $17,000 (estimation)
Total Upfront Investment: $142,000
Rental Income Projected Monthly Rent (Both Units): $2,500
Gross Annual Rent: $30,000Annual
Operating Expenses
Property Management (10%): $3,000
Vacancy (8%): $2,400
Repairs/CapEx (10%): $3,000
Property Taxes: $2,942
Insurance (estimated): $1,500T
Total Operating Expenses: $12,842
Net Operating Income (NOI): $17,158F
Financing & Cash Flow
Annual Mortgage Payment (7%): $11,496A
Annual Cash Flow: $5,662
Monthly Cash Flow: $472

Why Cleveland:

Affordable Property Prices

Median home prices: ~$120,000–$160,000 (vs. $417,000 national average)
Many properties qualify as cash-flowing rentals with 8–12%+ net yield
Ideal for both Buy & Hold and Fix & Flip models

Strong Rental Demand & High Occupancy Rates

60%+ of Cleveland residents are renters
Large population of blue-collar workers, healthcare professionals, and students
Section 8 rental programs are active, offering consistent government-backed payments
Cleveland, is landlord-friendly, making it easier to manage properties and enforce lease agreements.
Evictions: The eviction process is relatively quick (usually 30-45 days for non-payment of rent).
Low disaster risk: Ohio is one of the safest states in terms of natural disasters no hurricanes, earthquakes, or wildfires driving up insurance costs or threatening property values

Risks

Slower appreciation: Population growth is flat; don’t expect Columbus-style value gains.
Lead-Safe law: Properties built before 1978 require certification every 2 years, adding compliance costs.
Older housing stock: More repairs and maintenance compared to Columbus.

This is an example deal with real numbers: Arcade Ave, Cleveland, OHProperty Type: DuplexNeighborhood Grade (subjective): C+

Deal Overview

Purchase Price: $159,000

Loan-to-Value (LTV): 60%
Loan Amount: $95,400 (7% rate)
Renovation: $0 (turnkey, fully occupied)
Closing Costs + My Fee (estimation): $12,000
Total Upfront Investment: $75,600(= $63,600 down payment + $12,000 closin/fees)
Rental Income: Current Monthly Rent (both units): $1,675Gross Annual Rent: $20,100
Note: Rents are below market, so there’s room for upside if tenants turn over or leases are renewe
Annual Operating Expenses
Property Management (10%): $2,010
Vacancy (8%): $1,608Repairs/
CapEx (10%): $2,010
Property Taxes (2024): $2,601I
Insurance (estimated): $1,500
Total Operating Expenses: $9,729
Net Operating Income (NOI)
Gross Rent: $20,100
Total Operating Expenses: $9,729
NOI: $10,371
Annual Mortgage Payment ≈ $7,619
Annual Cash Flow: $2,752
Monthly Cash Flow: $229

Final Thoughts

Columbus: Higher buy-in, but it’s a growth city with stability and long-term upside.

Cleveland: Lower barrier to entry, cash flow first, slower appreciation.For me, combining both makes sense:

Columbus for long-term growth and Cleveland for steady yield. And because Ohio is landlord-friendly, you can scale here with confidence.