595 Lakeridge Dr · Lima, OH 45804

$99,900

3 bd · 2.0 ba · 1,870 sqft · Manufactured · 69 Days on market

Built 2001 Fair condition

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Schultz doublewide 26x68. 3 bd. 2 bath. Large spacious kitchen with island and loads of storage. Multiple built-ins. Premium location overlooking the pond! All appliances stay, skylights, newer roof. Carport and shed.

Key facts

• Pond view
• Front patio
• Spacious shed

Tags

• PREMIUM LOT
• POND VIEW
• FRONT PATIO
• REAR DECK
• SPACIOUS SHED
• UPDATED METAL ROOF

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Manufactured home; Single-story; Residential property
• Construction: Vinyl siding; Other foundation
• Exterior features: Covered patio

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Total rooms: 8
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Dishwasher; Range; Refrigerator; Accessible entrance with ramp

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.7% vs local median 7.4% in Lima — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#787 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A-; Watch: crime F, amenities F, commute F.
• Perry Local (rural): math 42% / reading 57% proficiency, ranked #460 of 656 in OH (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Perry Elementary School (math 51% / reading 55%, grade C, #840 of 1,584 statewide, top 53%, 406 students, 73% FRL); Perry High School (math 32% / reading 57%, grade F, #470 of 781 statewide, top 62%, 317 students, 63% FRL).
• Market conditions: 79 active listings in the ZIP; lower-income renter base — watch delinquency; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Allen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 9y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $100k implies a 163% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.44% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.17%
• DSCR: 1.85
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.29×
• Total profit: $8,105
• Equity at exit: $14,895

10-year hold

• IRR: 16.7%
• Equity multiple: 2.38×
• Total profit: $38,513
• Equity at exit: $8,638

Cash invested: $27,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

ZIP-level market 45804

• Active inventory: 79
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,440 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $380

Break-even live

Break-even rent $958

Max offer price $99,900

Occupancy floor 69%

Sensitivity live

Price	-10% $449	-5% $415	+0% $380	+5% $346	+10% $311
Rent	-10% $267	-5% $324	+0% $380	+5% $437	+10% $494
Rate	-1.0pp $431	-0.5pp $406	base $380	+0.5pp $355	+1.0pp $328

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $99,900 Active 69 DOM
2. 2026-06-18
   days on market $99,900 Active 66 DOM
3. 2026-06-17
   days on market $99,900 Active 65 DOM
4. 2026-06-16
   days on market $99,900 Active 64 DOM
5. 2026-06-15
   days on market $99,900 Active 63 DOM
6. 2026-06-14
   days on market $99,900 Active 61 DOM
7. 2026-06-13
   days on market $99,900 Active 60 DOM
8. 2026-06-10
   days on market $99,900 Active 58 DOM
9. 2026-06-09
   days on market $99,900 Active 57 DOM
10. 2026-06-08
    days on market $99,900 Active 56 DOM
11. 2026-06-07
    days on market $99,900 Active 55 DOM
12. 2026-06-02
    days on market $99,900 Active 50 DOM
13. 2026-06-01
    days on market $99,900 Active 49 DOM
14. 2026-05-31
    days on market $99,900 Active 48 DOM
15. 2026-05-30
    days on market $99,900 Active 47 DOM
16. 2026-04-21
    price $99,900
17. 2026-04-13
    listed $109,900 Active
18. 2017-08-11
    soldstatus $38,000 218-char remark

    Show marketing remark (218 chars)

    Schultz doublewide 26x68. 3 bd. 2 bath. Large spacious kitchen with island and loads of storage. Multiple built-ins. Premium location overlooking the pond! All appliances stay, skylights, newer roof. Carport and shed.

19. 2017-05-02
    listed $39,000 218-char remark

    Show marketing remark (218 chars)

    Schultz doublewide 26x68. 3 bd. 2 bath. Large spacious kitchen with island and loads of storage. Multiple built-ins. Premium location overlooking the pond! All appliances stay, skylights, newer roof. Carport and shed.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,275
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$1,297
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$2,906
• Taxable income: $3,214
• Est. tax owed @ 24.0%: −$771
• After-tax cash flow: $3,794/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This manufactured home requires moderate repairs and maintenance, with updates to the interior walls, flooring, and landscaping to significantly increase its resale and rental value.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom cabinets — slight wear
• Minor HVAC system — need cleaning

Value-add opportunities

• Resale paint interior walls — enhances curb appeal
• Resale replace carpet — improves living space
• Resale update kitchen cabinets — modernizes space
• Resale update bathrooms — modernizes space
• Both landscaping — enhances curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom cabinets · slight wear	Minor	$500–3,000
HVAC system · need cleaning	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Resale paint interior walls — enhances curb appeal ↑
• Resale replace carpet — improves living space ↑
• Resale update kitchen cabinets — modernizes space ↑
• Resale update bathrooms — modernizes space ↑
• Both landscaping — enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Perry Local
• NCES district ID: 3904578
• Math proficiency: 42% ▼ -15.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $39,879
• Composite: 41.34/100
• National rank: #3501
• State rank: #460 of 656 in OH

Livability — Lima

• Score: 64/100
• State rank: #787
• US rank: #14288

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety A- User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Allen · 98,169 people
• City population: 21,739
• Metro: Lima, OH
• Population (ZIP): 14,197
• Household income: $42,594
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 8.1

Population outlook (Allen County) Hauer SSP2

• Today (2025): 100,321 people
• By 2030: 97,693 · -2.6%
• By 2040: 91,802 · -8.5%
• By 2050: 86,152 · -14.1%
• By 2075: 73,659 · -26.6%
• By 2100: 58,716 · -41.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 19% Two or more races 8% Hispanic / Latino 2%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Allen

• 2024 margin: Solid R (+44.1) · D 27.5% · R 71.6%
• 2008→2024 swing: -23.4pp toward R · 2008: -20.7pp · 2024: -44.1pp
• All cycles: 2024: R+44.1 2020: R+39.5 2016: R+38.2 2012: R+25.7 2008: R+20.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -124.39%
• Current HPI: 126.4189
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Price history

+156.2% since first listed

4 events — show timeline

• 2026-04-21 Price Changed $99,900 WCARE
• 2026-04-13 Listed $109,900 WCARE
• 2017-08-11 Sold (MLS) $38,000 WCARE
• 2017-05-02 Listed $39,000 WCARE