Rare Pre-Construction Investment Opportunity – High-Demand Market
Iron 24 is a first-of-its-kind, high-end townhome development in Dover, OH, offering a unique investment opportunity in a market with virtually no competition. The area faces a severe housing shortage, especially for high-quality rentals catering to professionals. With zero comparable properties in the region, Iron 24 is set to dominate the market upon completion in February 2026.
Market Advantage:
Severe Housing Shortage: Limited availability of modern, high-quality rental properties in the area.
Zero Direct Competition: No comparable luxury townhome communities exist within the market.
First of Its Kind: The only new construction townhome project designed to meet the increasing demand for high-end rental housing.
Built-In Tenant Demand: Located near Cleveland Clinic Union Hospital, ensuring a steady stream of medical professionals and corporate tenants seeking premium housing.
City Support & No Zoning Hurdles: Strong municipal backing, expediting approvals and minimizing development risk.
Projected Financials:
24 Units | 2-3 Bedroom Luxury Townhomes
Monthly Rent: $2,000 per unit
Annual Gross Rental Income: $576,000
Total NOI: $403,200
Cap Rate: 6%
Turnkey Investment: Prime opportunity for long-term cash flow and appreciation
This rare opportunity allows investors to secure a premium asset before completion, ensuring maximum upside potential in a rapidly growing market.