ARKON OHIO A SLAM DUNK FOR INVESTORS
As property investment surges in Cleveland investors are now looking slightly further a field to try and get more value for their dollars, their attention is falling on Arkron.
Akron has not always been on the investors radar but it is now becoming a hidden gem for the savvy investor, why you may ask ?
Akron, Ohio is about 30 miles south of Cleveland City and is the fifth-largest city in the U.S. state of Ohio where you can pick up a tenanted three bed property for under $30,000.
Not only are the property prices low but the rent amounts are on par with neighbouring Cleveland, low prices and high rents equates to healthy returns.
Akron is a city undergoing expansion, tire companies, real estate developers and government agencies have announced more than $1 billion in investments in Akron. There is a city-wide plan to spur residential growth which was developed after analyzing Akron housing and researching programs in Cleveland, Columbus and Pittsburgh.
NBA star LeBron James and his foundation have opened a new school in his hometown of Akron and Mayor Dan Horrigan released the City’s plan for spending “Issue 4” funds in 2018. The budget outlines a plan for more than $13 Million in increased investment in police and fire protection and roadway improvements in Akron.
Akron is also home to many large corporations who are centred around high-tech research and development, which include WGC-Bridgestone Invitational, Stan Hywet Hall and Gardens, Akron City Hospital and the Goodyear Polymer Center.
Home values have gone up 3.1% over the past year and the median household income is $505 higher than the median Ohio household income.
Arkon was seen as a city grappling with its population decline and waiting on new investment to come along to re-ignite the property market.
But this stagnant view has lead way to opportunity for investors, low competition between Buyers means more availability and lower prices as compared to the bustling Cleveland market.
That is why Akron is a great place to invest, it offers low barriers and capital investment needs for those looking to maximize their investment potential.
We have the best rental properties in Arkon, our existing Cleveland Suppliers also have offices in Akron so both cities work hand in hand, they have the experience and know how in this exciting market place.
If you would like more information on our Akron or Cleveland properties please contact Mike or any of the Global team, please email email@example.com