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Nice neighborhood. http://www.npr.org/2015/04/29/40303...urvivors-recount-captivity-escape-from-horror
Gentrification will come no doubt. Mission district in SF used to be a rough and tumble Latino neighborhood but it had 2 things going for it, the best weather in SF ( sunniest ) and easy access to 101 & 280 South. Today it's home to techies, restaurants, coffee shops & bakeries.
Property in the US is too cheap.In Russia the same house, even in the far east, would cost approx. $200K
Gentrification is driven by the economy. What's going for Cleveland that would be an incentive for gentrification? Maybe it's the Russian property that's massively overpriced (since you guys can't trust any other assets really).
Nothing apparent at the moment thus gentrification is not imminent but history is repetitive and cheap real estate prices are a bonus.
In that case why not pick real estate in Detroit? It's real cheap there PS. If I had to chose some distressed RE, I'd buy a bungalow in Puerto Rico, not of a house in a Cleveland ghetto