1929 W Wayne St · Lima, OH 45805

$179,900

2 bd · 1.0 ba · 1,225 sqft · SingleFamily public records · 10 Days on market

Built 1952 Est $167k · 8% over

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Why this score? — see what drove the D- 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 +15.7/30.0
• DSCR +4.8/10.0
• ARV discount +3.9/15.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1929 West Wayne Street! This 3 bedroom 1.5 bath home features an updated kitchen, updated bathrooms, newer flooring and has been very well maintained. Full basement, 1 car detached garage with covered patio and a fenced-in backyard. Call to set up a tour today!, Under 1 Acre

Key facts

• Fenced in backyard
• Full basement
• Covered patio

Tags

• FULL BASEMENT
• COVERED PATIO
• FENCED IN BACKYARD
• DETACHED GARAGE

Property features AI

Exterior

• Parking: Detached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Block foundation
• Exterior features: Residential zoning

Interior

• Kitchen: Dishwasher
• Bedrooms: 6 total rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dishwasher; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $79 ($943/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $154k (14.3% below list).
• Recommended offer: $154k (14.3% below list) — sets the bar for 1% rule.

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.
• Lima City (urban): math 29% / reading 36% proficiency, ranked #575 of 656 in OH (top 88%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Heritage Elementary School (math 42% / reading 32%, grade F, #1,087 of 1,584 statewide, top 70%, 421 students, 0% FRL); Lima West Middle School (math 22% / reading 24%, grade F, #600 of 654 statewide, top 92%, 352 students, 0% FRL); Lima Senior High School (math 16% / reading 42%, grade F, #627 of 781 statewide, top 81%, 1,013 students, 0% FRL) — zoned schools average 0% FRL vs 83% district-wide (83 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 107 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $124k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,165 (14.3% below list)

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.86% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.87%
• DSCR: 1.08
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $166,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1607 W Wayne St	0.26mi	2/1.5	1,176 (-4%)	1mo	$125,000	$106	79
1716 Oakland Pkwy Pkwy	0.18mi	2/2.5	1,265 (+3%)	2mo	$198,500	$157	78
2011 W Wayne St	0.11mi	3/1.0 (+1)	1,114 (-9%)	1mo	$184,900	$166	74
1810 Rice Ave	0.40mi	3/1.0 (+1)	1,221 (-0%)	4mo	$105,500	$86	73
705 Cornell Dr	0.37mi	2/2.0	1,264 (+3%)	1mo	$231,000	$183	73
660 Columbia Dr	0.55mi	3/1.5 (+1)	1,209 (-1%)	1mo	$159,900	$132	64
1605 Hazel Ave	0.45mi	2/2.0	1,140 (-7%)	2mo	$160,000	$140	62
910 N Dale Dr	0.50mi	2/1.0	1,323 (+8%)	2mo	$153,000	$116	61
2250 Kunneke Ave	0.74mi	3/1.0 (+1)	1,154 (-6%)	3mo	$165,000	$143	48
1407 Latham Ave	0.68mi	3/1.0 (+1)	1,066 (-13%)	2mo	$130,000	$122	40
1245 Latham Ave	0.74mi	3/1.0 (+1)	1,066 (-13%)	2mo	$145,000	$136	38
1032 Woodland Dr	0.69mi	3/2.0 (+1)	1,404 (+15%)	1mo	$125,000	$89	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -13.4%
• Equity multiple: 0.52×
• Total profit: $-24,185
• Equity at exit: $26,824

10-year hold

• IRR: -4.5%
• Equity multiple: 0.71×
• Total profit: $-14,778
• Equity at exit: $15,554

Cash invested: $50,372 (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 45805

• Active inventory: 107
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,542 high
• Mortgage (P&I): −$943
• Tax from tax record: −$121 /mo · $1,451/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $79

Break-even live

Break-even rent $1,442

Max offer price $179,900

Occupancy floor 90%

Sensitivity live

Price	-10% $180	-5% $130	+0% $79	+5% $28	+10% $-23
Rent	-10% $-43	-5% $18	+0% $79	+5% $140	+10% $200
Rate	-1.0pp $169	-0.5pp $124	base $79	+0.5pp $32	+1.0pp $-15

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1436 W High St Lima, OH	2.0	1.0	1205	$895	$0.74	45d	1	0.48mi
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	45d	1	0.60mi
608 S Primrose Pl Lima, OH	3.0	2.0	1200	$2,500	$2.08	45d	1	0.74mi
1014 W Market St Apt 3 Lima, OH	2.0	1.0	800	$1,400	$1.75	45d	1	0.86mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	45d	1	1.29mi

Listing history 8 events

1. 2026-06-22
   days on market $179,900 Active 10 DOM
2. 2026-06-19
   days on market $179,900 Active 7 DOM
3. 2026-06-18
   days on market $179,900 Active 6 DOM
4. 2026-06-17
   days on market $179,900 Active 5 DOM
5. 2026-06-16
   days on market $179,900 Active 4 DOM
6. 2026-06-15
   days on market $179,900 Active 3 DOM
7. 2026-06-13
   remarks 699-char remark
8. 2026-06-13
   listed $179,900 Active 1 DOM

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

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $1,451 · $121/mo
• Projected year-2 tax: $2,129 · $177/mo
• Expected delta: +$678/yr (+$56/mo · 46.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°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: $18,500
• − Mortgage interest: −$10,077
• − Property taxes: −$1,451
• − Insurance: −$900
• − Repairs & maintenance: −$1,480
• − Management: −$1,480
• − Depreciation: −$5,233
• Taxable loss: −$2,121
• Est. tax savings @ 24.0%: +$509
• After-tax cash flow: $1,452/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.

Schools (NCES district)

• District: Lima City
• NCES district ID: 3904422
• Math proficiency: 29% ▼ -13.00%
• Reading proficiency: 36% ▼ -6.00%
• Median HH income: $29,685
• Composite: 26.31/100
• National rank: #7243
• State rank: #575 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

• Census place: Lima, OH
• County: Allen · 98,169 people
• City population: 21,739
• Metro: Lima, OH
• Population (ZIP): 24,746
• Household income: $65,954
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 8.0

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 (74%)
• Race & ethnicity: White 74% Black 15% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 2% Slovak 2% Romanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 1% Vietnamese 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: ▼ -156.78%
• Current HPI: 210.6397
• 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

+313.6% since first listed

6 events — show timeline

• 2026-06-11 Listed $179,900 WCARE
• 2021-05-24 Sold (Public Records) $123,600 Public Records
• 2021-05-24 Sold (MLS) $123,600 WCARE
• 2021-04-10 Listed $105,000 WCARE
• 2018-09-24 Sold (Public Records) $86,000 Public Records
• 1991-05-30 Sold (Public Records) $43,500 Public Records

Property tax history

+3.0%/yr

Latest (2025): $1,451 · +0.0% YoY. Source: county tax records.