Boardman is an affluent area in this region, it has many nicely built homes typically built in 1940s and 1950s. Typical families are double income families, many are in managerial positions. There are also many upscale shopping plazas in Boardman.
The main attraction for Boardman is its school district, Boardman School District is rated amongst one of the top school districts in Ohio. If you look at the rating on the schools, most of its schools are exceptionally rated for its academic and performance. The combining factors have helped Boardman real estate market as one of the most stable markets.
The typical investment strategies to purchase real estate in Boardman are:
1. Look for opportunistic investments – there are occasional foreclosures or REO properties, investors do need to act fast as these properties tend to attract multiple offers. There are many local and interstate even international investors actively investing in Boardman at moment.
2. High yield properties – in Boardman, it is harder to find properties that can generate 20%+ net return because of the higher price. However, it is very common to find properties producing 14% to 16% net yield in this area. Typical 3 bedroom house can rent for $700 to $750 per month, on more up-scale markets, they can also rent out for $800 to $900 per month.
3. Buy and fix-up – there are opportunities in Boardman where you can buy into properties around low $30,000s that requires fix-up. This usually means change a roof, updating bathroom, updating furnace and maybe kitchen. The typical investment will be between $5000 to $10,000 to a home in Boardman area.
4. Duplexes or Quad-plexes – there are selective duplexes and quad-plexes built in the area, most of these were built in the 1950s and 1960s, the occupancy rate is typically very high for duplexes or quads in Boardman area, most of them are 100% occupied.