1755 Shawnee Rd #206 · Lima, OH 45805

$114,000

2 bd · 2.0 ba · 1,385 sqft · Condo public records · 57 Days on market

Built 1966 $487/mo HOA · 19% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOTIVATED SELLER! Beautiful 2-Bedroom Condo in Carlton House Welcome to Carlton House, one of the most sought-after residences in the area! This spacious 1,385 sq ft condo offers a perfect blend of comfort, style, and security. New laminate flooring throughout except kitchen and bathrooms. Indoor AC from Browns apprrox. 4 years old. 2 Bedrooms, 2 Full Baths: Enjoy the comfort of two generously sized bedrooms and two full baths, perfect for relaxation and privacy. Private Balcony: Step out onto your private balcony and take in the breathtaking views. Perfect for enjoying your morning coffee or winding down in the evening. Secure Building: Your safety is our priority. Carlton House offers top-notch security features for your peace of mind. Garage Parking: Includes 1 garage space, ensuring your vehicle is safe and protected from the elements. Prime Location: Situated in a highly desirable area, this condo is close to all the amenities you need. Don't miss out on this opportunity to own a piece of luxury in Carlton House. Schedule a viewing today!

Key facts

• Covered parking
• Work out room
• Storage unit

Tags

• WORK OUT ROOM
• COMMUNITY GATHERING ROOMS
• COVERED PARKING
• STORAGE UNIT
• MAINTENANCE FREE CONDO
• NICE SIZE PATIO

Property features AI

Finance

• Financial info: Annual tax information available but detailed financials not provided
• HOA & community: Homeowners association with a monthly fee of $487; HOA covers grounds maintenance, snow removal, and trash; Association amenities include a fitness center and laundry

Exterior

• Parking: 1 total parking space; 1-car garage
• Security: Building security
• Utilities: Public water; Public sewer; Electricity connected; Water connected
• Home design: Condominium (residential); Entry level and number of stories not specified; Facing direction not specified
• Construction: Slab foundation; Year built not specified; Construction materials and roof not specified
• Exterior features: Patio

Interior

• Kitchen: Dishwasher; Electric cooktop; Oven; Refrigerator
• Bedrooms: Total of 4 rooms (bedroom count not specified)
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Electric heating; Central air conditioning
• Interior features: Dishwasher; Electric cooktop; Oven; Refrigerator; Electric water heater; Laminate flooring; Building security
• Laundry & utility: Laundry available in the association amenities; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $114k.

Deal economics

• At list price, monthly cash flow is $719 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $111k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 7.7% 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.
• Shawnee Local (suburban): math 71% / reading 77% proficiency, ranked #100 of 656 in OH (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 106 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• At $2,500/mo this rent would consume 45% of the median local household income ($66k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $788 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 $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y ago; this cycle's ask has dropped $36k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $110,580 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.19% ✓
• Cap rate: 13.86%
• Cash-on-cash: 27.03%
• DSCR: 2.20
• GRM: 3.8

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: 21.2%
• Equity multiple: 1.87×
• Total profit: $27,648
• Equity at exit: $16,998

10-year hold

• IRR: 29.4%
• Equity multiple: 3.64×
• Total profit: $84,366
• Equity at exit: $9,857

Cash invested: $31,920 (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: 106
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $2,500 medium
• Mortgage (P&I): −$598
• Tax from tax record: −$124 /mo · $1,484/yr
• Insurance: −$48
• HOA: −$487
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $719

Break-even live

Break-even rent $1,590

Max offer price $114,000

Occupancy floor 66%

Sensitivity live

Price	-10% $784	-5% $751	+0% $719	+5% $687	+10% $654
Rent	-10% $522	-5% $620	+0% $719	+5% $818	+10% $917
Rate	-1.0pp $776	-0.5pp $748	base $719	+0.5pp $689	+1.0pp $659

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 S Primrose Pl Lima, OH	3.0	2.0	1200	$2,500	$2.08	44d	1	1.39mi

HOA detail condo

• Monthly dues: $487 · $5,844/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 38 events

1. 2026-06-21
   days on market $114,000 Active 57 DOM
2. 2026-06-18
   days on market $114,000 Active 55 DOM
3. 2026-06-17
   days on market $114,000 Active 54 DOM
4. 2026-06-16
   days on market $114,000 Active 53 DOM
5. 2026-06-15
   days on market $114,000 Active 52 DOM
6. 2026-06-13
   days on market $114,000 Active 50 DOM
7. 2026-06-12
   days on market $114,000 Active 49 DOM
8. 2026-06-09
   days on market $114,000 Active 46 DOM
9. 2026-06-08
   days on market $114,000 Active 45 DOM
10. 2026-06-08
    days on market $114,000 Active 44 DOM
11. 2026-06-07
    days on market $114,000 Active 43 DOM
12. 2026-06-04
    days on market $114,000 Active 40 DOM
13. 2026-06-02
    days on market $114,000 Active 39 DOM
14. 2026-06-01
    days on market $114,000 Active 38 DOM
15. 2026-05-31
    days on market $114,000 Active 37 DOM
16. 2026-05-15
    price $119,000 584-char remark
17. 2026-05-07
    price $129,000 584-char remark
18. 2026-04-30
    price $139,000 584-char remark
19. 2026-04-24
    listed $149,900 Active 584-char remark
20. 2025-02-27
    soldstatus $110,000
21. 2025-02-26
    soldstatus $110,000 Closed 1063-char remark

    Show marketing remark (1063 chars)

    MOTIVATED SELLER! Beautiful 2-Bedroom Condo in Carlton House Welcome to Carlton House, one of the most sought-after residences in the area! This spacious 1,385 sq ft condo offers a perfect blend of comfort, style, and security. New laminate flooring throughout except kitchen and bathrooms. Indoor AC from Browns apprrox. 4 years old. 2 Bedrooms, 2 Full Baths: Enjoy the comfort of two generously sized bedrooms and two full baths, perfect for relaxation and privacy. Private Balcony: Step out onto your private balcony and take in the breathtaking views. Perfect for enjoying your morning coffee or winding down in the evening. Secure Building: Your safety is our priority. Carlton House offers top-notch security features for your peace of mind. Garage Parking: Includes 1 garage space, ensuring your vehicle is safe and protected from the elements. Prime Location: Situated in a highly desirable area, this condo is close to all the amenities you need. Don't miss out on this opportunity to own a piece of luxury in Carlton House. Schedule a viewing today!

22. 2024-12-30
    historical Active Under Contract 1063-char remark

    Show marketing remark (1063 chars)

    MOTIVATED SELLER! Beautiful 2-Bedroom Condo in Carlton House Welcome to Carlton House, one of the most sought-after residences in the area! This spacious 1,385 sq ft condo offers a perfect blend of comfort, style, and security. New laminate flooring throughout except kitchen and bathrooms. Indoor AC from Browns apprrox. 4 years old. 2 Bedrooms, 2 Full Baths: Enjoy the comfort of two generously sized bedrooms and two full baths, perfect for relaxation and privacy. Private Balcony: Step out onto your private balcony and take in the breathtaking views. Perfect for enjoying your morning coffee or winding down in the evening. Secure Building: Your safety is our priority. Carlton House offers top-notch security features for your peace of mind. Garage Parking: Includes 1 garage space, ensuring your vehicle is safe and protected from the elements. Prime Location: Situated in a highly desirable area, this condo is close to all the amenities you need. Don't miss out on this opportunity to own a piece of luxury in Carlton House. Schedule a viewing today!

23. 2024-12-27
    status Active 1063-char remark

    Show marketing remark (1063 chars)

    MOTIVATED SELLER! Beautiful 2-Bedroom Condo in Carlton House Welcome to Carlton House, one of the most sought-after residences in the area! This spacious 1,385 sq ft condo offers a perfect blend of comfort, style, and security. New laminate flooring throughout except kitchen and bathrooms. Indoor AC from Browns apprrox. 4 years old. 2 Bedrooms, 2 Full Baths: Enjoy the comfort of two generously sized bedrooms and two full baths, perfect for relaxation and privacy. Private Balcony: Step out onto your private balcony and take in the breathtaking views. Perfect for enjoying your morning coffee or winding down in the evening. Secure Building: Your safety is our priority. Carlton House offers top-notch security features for your peace of mind. Garage Parking: Includes 1 garage space, ensuring your vehicle is safe and protected from the elements. Prime Location: Situated in a highly desirable area, this condo is close to all the amenities you need. Don't miss out on this opportunity to own a piece of luxury in Carlton House. Schedule a viewing today!

24. 2024-12-27
    price $118,500 1063-char remark

    Show marketing remark (1063 chars)

    MOTIVATED SELLER! Beautiful 2-Bedroom Condo in Carlton House Welcome to Carlton House, one of the most sought-after residences in the area! This spacious 1,385 sq ft condo offers a perfect blend of comfort, style, and security. New laminate flooring throughout except kitchen and bathrooms. Indoor AC from Browns apprrox. 4 years old. 2 Bedrooms, 2 Full Baths: Enjoy the comfort of two generously sized bedrooms and two full baths, perfect for relaxation and privacy. Private Balcony: Step out onto your private balcony and take in the breathtaking views. Perfect for enjoying your morning coffee or winding down in the evening. Secure Building: Your safety is our priority. Carlton House offers top-notch security features for your peace of mind. Garage Parking: Includes 1 garage space, ensuring your vehicle is safe and protected from the elements. Prime Location: Situated in a highly desirable area, this condo is close to all the amenities you need. Don't miss out on this opportunity to own a piece of luxury in Carlton House. Schedule a viewing today!

25. 2024-12-23
    status Active 1063-char remark

    Show marketing remark (1063 chars)

    MOTIVATED SELLER! Beautiful 2-Bedroom Condo in Carlton House Welcome to Carlton House, one of the most sought-after residences in the area! This spacious 1,385 sq ft condo offers a perfect blend of comfort, style, and security. New laminate flooring throughout except kitchen and bathrooms. Indoor AC from Browns apprrox. 4 years old. 2 Bedrooms, 2 Full Baths: Enjoy the comfort of two generously sized bedrooms and two full baths, perfect for relaxation and privacy. Private Balcony: Step out onto your private balcony and take in the breathtaking views. Perfect for enjoying your morning coffee or winding down in the evening. Secure Building: Your safety is our priority. Carlton House offers top-notch security features for your peace of mind. Garage Parking: Includes 1 garage space, ensuring your vehicle is safe and protected from the elements. Prime Location: Situated in a highly desirable area, this condo is close to all the amenities you need. Don't miss out on this opportunity to own a piece of luxury in Carlton House. Schedule a viewing today!

26. 2024-12-21
    historical Active Under Contract 1063-char remark

    Show marketing remark (1063 chars)

    MOTIVATED SELLER! Beautiful 2-Bedroom Condo in Carlton House Welcome to Carlton House, one of the most sought-after residences in the area! This spacious 1,385 sq ft condo offers a perfect blend of comfort, style, and security. New laminate flooring throughout except kitchen and bathrooms. Indoor AC from Browns apprrox. 4 years old. 2 Bedrooms, 2 Full Baths: Enjoy the comfort of two generously sized bedrooms and two full baths, perfect for relaxation and privacy. Private Balcony: Step out onto your private balcony and take in the breathtaking views. Perfect for enjoying your morning coffee or winding down in the evening. Secure Building: Your safety is our priority. Carlton House offers top-notch security features for your peace of mind. Garage Parking: Includes 1 garage space, ensuring your vehicle is safe and protected from the elements. Prime Location: Situated in a highly desirable area, this condo is close to all the amenities you need. Don't miss out on this opportunity to own a piece of luxury in Carlton House. Schedule a viewing today!

27. 2024-10-23
    price $113,900 1063-char remark

    Show marketing remark (1063 chars)

    MOTIVATED SELLER! Beautiful 2-Bedroom Condo in Carlton House Welcome to Carlton House, one of the most sought-after residences in the area! This spacious 1,385 sq ft condo offers a perfect blend of comfort, style, and security. New laminate flooring throughout except kitchen and bathrooms. Indoor AC from Browns apprrox. 4 years old. 2 Bedrooms, 2 Full Baths: Enjoy the comfort of two generously sized bedrooms and two full baths, perfect for relaxation and privacy. Private Balcony: Step out onto your private balcony and take in the breathtaking views. Perfect for enjoying your morning coffee or winding down in the evening. Secure Building: Your safety is our priority. Carlton House offers top-notch security features for your peace of mind. Garage Parking: Includes 1 garage space, ensuring your vehicle is safe and protected from the elements. Prime Location: Situated in a highly desirable area, this condo is close to all the amenities you need. Don't miss out on this opportunity to own a piece of luxury in Carlton House. Schedule a viewing today!

28. 2024-08-11
    listed $118,900 Active 1063-char remark

    Show marketing remark (1063 chars)

    MOTIVATED SELLER! Beautiful 2-Bedroom Condo in Carlton House Welcome to Carlton House, one of the most sought-after residences in the area! This spacious 1,385 sq ft condo offers a perfect blend of comfort, style, and security. New laminate flooring throughout except kitchen and bathrooms. Indoor AC from Browns apprrox. 4 years old. 2 Bedrooms, 2 Full Baths: Enjoy the comfort of two generously sized bedrooms and two full baths, perfect for relaxation and privacy. Private Balcony: Step out onto your private balcony and take in the breathtaking views. Perfect for enjoying your morning coffee or winding down in the evening. Secure Building: Your safety is our priority. Carlton House offers top-notch security features for your peace of mind. Garage Parking: Includes 1 garage space, ensuring your vehicle is safe and protected from the elements. Prime Location: Situated in a highly desirable area, this condo is close to all the amenities you need. Don't miss out on this opportunity to own a piece of luxury in Carlton House. Schedule a viewing today!

29. 2021-09-27
    soldstatus $75,000
30. 2021-09-24
    soldstatus $75,000
31. 2021-08-03
    listed $75,000
32. 2018-09-17
    soldstatus $65,000
33. 2018-09-14
    soldstatus $65,000
34. 2018-08-02
    listed $69,900
35. 2018-01-03
    listed $69,900
36. 2012-09-14
    soldstatus $58,000
37. 2010-02-05
    soldstatus $79,000
38. 2007-09-14
    soldstatus $65,000

ⓘ 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: $1,484 · $124/mo
• Projected year-2 tax: $1,631 · $136/mo
• Expected delta: +$147/yr (+$12/mo · 9.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $30,000
• − Mortgage interest: −$6,386
• − Property taxes: −$1,484
• − Insurance: −$570
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − HOA: −$5,844
• − Depreciation: −$3,316
• Taxable income: $7,600
• Est. tax owed @ 24.0%: −$1,824
• After-tax cash flow: $6,804/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: Shawnee Local
• NCES district ID: 3904579
• Math proficiency: 71% ▼ -9.00%
• Reading proficiency: 77% ▼ -4.00%
• Median HH income: $61,634
• Composite: 63.78/100
• National rank: #597
• State rank: #100 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): 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

+75.4% since first listed

24 events — show timeline

• 2026-05-23 Price Changed $114,000 WCARE
• 2026-05-15 Price Changed $119,000 WCARE
• 2026-05-07 Price Changed $129,000 WCARE
• 2026-04-30 Price Changed $139,000 WCARE
• 2026-04-24 Listed $149,900 WCARE
• 2025-02-27 Sold (Public Records) $110,000 Public Records
• 2025-02-26 Sold (MLS) $110,000 WCARE
• 2024-12-30 Contingent — WCARE
• 2024-12-27 Relisted — WCARE
• 2024-12-27 Price Changed $118,500 WCARE
• 2024-12-23 Relisted — WCARE
• 2024-12-21 Contingent — WCARE
• 2024-10-23 Price Changed $113,900 WCARE
• 2024-08-11 Listed $118,900 WCARE
• 2021-09-27 Sold (Public Records) $75,000 Public Records
• 2021-09-24 Sold (MLS) $75,000 WCARE
• 2021-08-03 Listed $75,000 WCARE
• 2018-09-17 Sold (Public Records) $65,000 Public Records
• 2018-09-14 Sold (MLS) $65,000 WCARE
• 2018-08-02 Listed $69,900 WCARE
• 2018-01-03 Listed $69,900 WCARE
• 2012-09-14 Sold (Public Records) $58,000 Public Records
• 2010-02-05 Sold (Public Records) $79,000 Public Records
• 2007-09-14 Sold (Public Records) $65,000 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,484 · +0.0% YoY. Source: county tax records.