University Cirlce (Wade Park and Ashbury Area) (Cleveland, Madison: bank owned, rental)

[freedom_fighter777]

I am an investor and am looking to buy a duplex for rental purposes in the University Circle area (near Case Western) because it seems to be a sought after area. I previously had a roommate in that area and had no trouble finding a tenant. Most houses or condos in the immediate area are out of my price range. But there are a few houses in the Wade Park / Ashbury Area just south of case around E 115. E 115 seems to get sketchy when you go north of Wade Park. How bad is this area and is it desirable enough to rent to students? I currently own rental property in Cudell (W 98th & Madison) and this is within my tolerance level. For my purposes anything worse than 98th & Madison is bad. How would this area compare?

[tribecavsbrowns]

Interesting question. My opinion: I don't know why this area shows so much resistance to improvement, but it does. The crime map for the city of Cleveland shows, for the last six months in the 10-square-block area bounded by 105th, Ashbury, Lakeview, and Wade Park, seven robberies and two assaults with a deadly weapon. I'm not a skittish guy, but one violent crime for every block of 15-20 houses seems like a bit much.
As to how it compares with 98th and Madison, well, as you know, 98th and Madison is no picnic. Madison itself is probably worse than this area. But it does seem like the residential streets in Wade Park/Ashbury see more crime than the ones off of Madison.

But I think we really need to hear from people more familiar with Case students and their perceptions of the neighborhood to get an idea of whether there would be a market.

[CJ_Triv_KellerWilliams]

I grew up in Little Italy and Im a realtor. I know the area quite well and I think that anytime you have a rental near down there you're in the clear. My family owns a bunch of houses aroung Case and have never had a problem renting them out. I wouldn't say they're always the best tennants, but they're there. Sometimes it can be a little tricky down by Case because one street down over from a "nice" street you're in a "wrong neighborhood". If you're interested, and I wouldn't mind, showing you a few properties in the area. My email address is in my profile.

[freedom_fighter777]

Originally Posted by tribecavsbrowns

Interesting question. My opinion: I don't know why this area shows so much resistance to improvement, but it does. The crime map for the city of Cleveland shows, for the last six months in the 10-square-block area bounded by 105th, Ashbury, Lakeview, and Wade Park, seven robberies and two assaults with a deadly weapon. I'm not a skittish guy, but one violent crime for every block of 15-20 houses seems like a bit much.
As to how it compares with 98th and Madison, well, as you know, 98th and Madison is no picnic. Madison itself is probably worse than this area. But it does seem like the residential streets in Wade Park/Ashbury see more crime than the ones off of Madison.

But I think we really need to hear from people more familiar with Case students and their perceptions of the neighborhood to get an idea of whether there would be a market.

I just bought a bank owned property just south of madison on W 83 rd where the houses blew up and it seems better than 98th & Madison I don't know why. Do you know anything about the "weed and seed" neighborhood?