Investment Property Loans in Cleveland, Ohio
Cleveland's real estate market has attracted investors from across the country for one primary reason: exceptional cash flow. With acquisition prices well below national averages and strong rental demand, 1–8 unit investment properties in Cleveland frequently achieve the cash flow ratios that make Non-QM financing straightforward.
Property Types We Finance
Rhino Capital provides Non-QM financing for the following investment property types:
| Property Type | Units | Typical DSCR |
|---|---|---|
| Single-Family Rental | 1 | 1.1 – 1.4 |
| Duplex | 2 | 1.2 – 1.5 |
| Triplex | 3 | 1.2 – 1.6 |
| Quadplex | 4 | 1.3 – 1.7 |
| 5–8 Unit Residential | 5–8 | 1.2 – 1.8 |
*Note: 5–8 unit properties are considered commercial residential and may have different underwriting requirements.*
Cleveland Investment Property Market Overview
Cleveland offers several distinct investment corridors:
Near West Side (Ohio City, Tremont, Detroit Shoreway): Premium rents, strong appreciation, ideal for BRRRR strategy investors. Duplexes and triplexes are common and cash flow well.
East Side Neighborhoods (Collinwood, Glenville, Slavic Village): Higher cap rates, lower acquisition costs, strong Section 8 rental demand. Excellent for cash flow-focused investors.
Inner Ring Suburbs (Lakewood, Parma, Euclid, Garfield Heights): Stable working-class rental demand, predictable rents, lower vacancy rates than urban core.
Outer Suburbs (Strongsville, Mentor, Medina): Lower yields but higher property quality and appreciation potential.
Down Payment Requirements
For investment property Non-QM loans, typical down payment requirements are:
- Purchase: 20–25% down (75–80% LTV)
- Rate & Term Refinance: 75–80% LTV
- Cash-Out Refinance: 65–75% LTV
- Fix & Flip: Up to 90% of purchase + rehab costs
The BRRRR Strategy and DSCR Loans
Many Cleveland investors use the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat) in combination with DSCR loans:
- Buy a distressed property with a fix & flip loan from Rhino Capital
- Rehab the property to increase its value
- Rent the property to achieve strong cash flow
- Refinance into a DSCR loan based on the new appraised value and rental income
- Repeat — pull out equity and acquire the next property
This strategy allows investors to recycle capital and scale their portfolios without needing additional personal income documentation.
Apply for Investment Property Financing
Ready to finance your next Cleveland investment property? Start your application — no SSN required — or use our DSCR Calculator to see if your property qualifies.