Cleveland, OH
Duplex
- Occupancy
- 1 of 4 units leased
- Asking price
- $260,000
- Status
- Available
- Section 8
- Cash-flowing rental
- Value-add
- Package deal
Street address, photos and full underwriting are released to network members.
OffMarketCarly sources off-market Section 8 and affordable-housing investment properties throughout Cleveland and Northeast Ohio. Current opportunities may include occupied voucher rentals, rent-ready properties, duplexes, triplexes and fourplexes.
Cleveland is one of our primary markets because entry prices sit low against rents, voucher demand is deep, and most of the rental stock trades between investors rather than on the MLS.
Ohio properties currently in the network, shown at city and ZIP level. Street addresses, photos and underwriting are released to members.
Street address, photos and full underwriting are released to network members.
Street address, photos and full underwriting are released to network members.
Street address, photos and full underwriting are released to network members.
Street address, photos and full underwriting are released to network members.
Street address, photos and full underwriting are released to network members.
Two streets a few minutes apart can have very different rents, tenant demand, insurance pricing and resale options. That is the single most important thing an out-of-state buyer needs to internalize about Cleveland: the spreadsheet does not tell you what the street looks like.
Before you commit, get eyes on the block — a property manager, a contractor, or someone local who has no stake in the sale. We will tell you what we know about a street, and we will also tell you when a property is a heavier lift than the numbers suggest.
Cleveland's classic duplex. Often one unit occupied, one turning over, which lets you stabilize rent unit by unit.
The workhorse of voucher demand in the market. Family-sized units lease quickly when they are in decent condition.
Fourplexes and 5+ unit buildings, usually partially occupied and priced off current rather than stabilized rent.
Vacant houses that will not pass inspection until specific items are handled — roof, mechanicals, windows, handrails, peeling paint.
Cuyahoga County taxes vary widely by municipality and can move after a sale. Pull the actual parcel figure — do not assume the seller's number.
Ask what the tenant pays today, what the voucher portion is, and what the unit would rent for re-leased.
Get a real quote on the address. Older frame houses in some ZIPs price very differently than a national average.
Expect a monthly percentage plus a leasing fee. Confirm the manager actually works that ZIP before you close.
For voucher tenancy, budget the housing-quality repairs. This is where thin deals go negative.
Unpaid water balances, point-of-sale requirements and code violations follow the property in some municipalities.
Through investor networks and direct relationships rather than public portals. OffMarketCarly is one of them: deal sources bring off-market Cleveland rentals to Carly Hill, and investors in the network receive the ones matching their criteria by email.
Cleveland has an active wholesaling community, and OffMarketCarly works with those deal sources directly — wholesalers, agents with investor sellers, and owners exiting portfolios. Carly Hill markets those off-market Section 8 and affordable-housing properties to the investor network rather than listing them publicly.
You buy it subject to the existing lease and Housing Assistance Payment contract. Before closing, review the lease, the tenant's payment history, the voucher portion versus the tenant portion, the most recent inspection result, and the unit's condition. After closing you register as the owner with the housing authority so payments are redirected to you.
Yes — most of our Cleveland buyers are out of state. Line up a property manager and a contractor before you close, and underwrite with real taxes, insurance, management, maintenance and vacancy rather than rules of thumb.
Many are, because purchase prices are low relative to rent. But cash flow lives or dies on the expense side: taxes, insurance, management, turnover and deferred maintenance. Run the property, not the market average.