2581 Susan Ann Dr · Elida, OH 45807

$259,900

4 bd · 2.5 ba · 1,916 sqft · SingleFamily public records · 2 Days on market

Built 1968 Est $255k · at est.

---

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).

• Appreciation +10.0/10.0
• Cash flow +7.2/30.0
• ARV discount +6.6/15.0
• Schools +5.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.6/10.0
• DSCR +1.4/10.0

Listing remarks MLS

Welcome to 2581 Susan Ann Drive. This large Elida ranch is the home you've been waiting to make your own. Large two car garage, nice yard and space for the entire family to spread out. Priced right with lots of upside, this home won't last. Schedule your showing today!, Under 1 Acre

Key facts

• 2 garage spots
• Built 1968
• Listed 2 days

Property features AI

Finance

• Other: Listed by Cowan, Realtors
• Financial info: Annual tax noted

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Exterior features: Residential zoning

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Fireplace; Seven total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-357 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (24.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (34.2% below list).
• Recommended offer: $171k (34.2% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.1% in Elida — 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 74/100 on livability (#297 in OH, #4,816 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Elida Local (rural): math 59% / reading 59% proficiency, ranked #311 of 656 in OH (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 53 active listings in the ZIP; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $28k of equity ($2k loan paydown + $26k appreciation (10.0% local appreciation)).
• Allen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 2, paydown + projected appreciation supports a ~$45k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $165k; list at $260k implies a 58% gain — meaningful room to come down on a strong offer.

Recommended offer $170,964 (34.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 0.66% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.90%
• DSCR: 0.74
• GRM: 12.7

CMA / ARV

• ARV (on-the-fly): $254,828
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2568 Susan Ann Dr	0.04mi	4/2.0	1,810 (-6%)	0mo	$150,000	$83	86
4795 Sycamore St	0.26mi	3/2.5 (-1)	2,113 (+10%)	0mo	$450,000	$213	66
4956 Pheasant St	0.54mi	3/2.0 (-1)	1,886 (-2%)	2mo	$226,000	$120	64
4901 Lobo St	0.51mi	3/2.0 (-1)	1,814 (-5%)	3mo	$300,000	$165	57
5126 Pheasant St	0.71mi	3/2.0 (-1)	1,950 (+2%)	3mo	$260,000	$133	55
4901 Hummingbird St	0.47mi	3/2.0 (-1)	2,051 (+7%)	6mo	$237,000	$116	54
4864 Pheasant St	0.45mi	3/2.0 (-1)	1,702 (-11%)	2mo	$255,000	$150	52
4917 Pheasant St	0.51mi	3/2.0 (-1)	1,750 (-9%)	6mo	$223,000	$127	50
2848 Hummingbird St	0.52mi	3/2.0 (-1)	1,716 (-10%)	2mo	$205,000	$119	50
4910 Amaryllis St	0.57mi	3/2.0 (-1)	1,746 (-9%)	3mo	$290,500	$166	49
2751 Whippoorwill Ave	0.59mi	3/2.5 (-1)	2,184 (+14%)	1mo	$335,900	$154	44
5031 Daisy Ln	0.61mi	3/1.5 (-1)	1,672 (-13%)	4mo	$214,500	$128	38

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.1%
• Equity multiple: 2.63×
• Total profit: $118,751
• Equity at exit: $234,139

10-year hold

• IRR: 18.4%
• Equity multiple: 6.05×
• Total profit: $367,551
• Equity at exit: $504,929

Cash invested: $72,772 (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 45807

• Home prices YoY: 8.5%
• Active inventory: 53
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $1,710 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$237 /mo · $2,843/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $-357

Break-even live

Break-even rent $2,162

Max offer price $196,747

Occupancy floor —

Sensitivity live

Price	-10% $-210	-5% $-284	+0% $-357	+5% $-431	+10% $-505
Rent	-10% $-493	-5% $-425	+0% $-357	+5% $-290	+10% $-222
Rate	-1.0pp $-227	-0.5pp $-291	base $-357	+0.5pp $-425	+1.0pp $-493

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-19
   days on market $259,900 Active 2 DOM
2. 2026-06-17
   statusdays on market $259,900 Active 1 DOM
3. 2026-06-16
   days on market $259,900 Coming Soon 13 DOM
4. 2026-06-15
   days on market $259,900 Coming Soon 12 DOM
5. 2026-06-14
   days on market $259,900 Coming Soon 10 DOM
6. 2026-06-12
   days on market $259,900 Coming Soon 9 DOM
7. 2026-06-08
   days on market $259,900 Coming Soon 5 DOM
8. 2026-06-07
   days on market $259,900 Coming Soon 4 DOM
9. 2026-06-05
   remarks 600-char remark
10. 2026-06-05
    listed $259,900 Coming Soon 2 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: $2,843 · $237/mo
• Projected year-2 tax: $3,448 · $287/mo
• Expected delta: +$606/yr (+$50/mo · 21.3%)

ⓘ 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: $20,516
• − Mortgage interest: −$14,558
• − Property taxes: −$2,843
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − Depreciation: −$7,561
• Taxable loss: −$9,028
• Est. tax savings @ 24.0%: +$2,167
• After-tax cash flow: $-2,123/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: Elida Local
• NCES district ID: 3904577
• Math proficiency: 59% ▼ -11.00%
• Reading proficiency: 59% ▼ -7.00%
• Median HH income: $46,632
• Composite: 49.93/100
• National rank: #1934
• State rank: #311 of 656 in OH

Livability — Elida

• Score: 74/100
• State rank: #297
• US rank: #4816

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Allen · 98,169 people
• Metro: Lima, OH
• Population (ZIP): 11,631
• Household income: $74,387
• Rent vs Own: 17.2% rent · 82.8% own
• Severe rent burden: 6.3

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 (90%)
• Race & ethnicity: White 90% Black 5% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Lithuanian 2% Iranian 1% Romanian 1%
• Foreign-born: 2% · Canada, South Korea
• Languages at home: 98% 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: ▲ 36.64%
• Current HPI: 468.59
• 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

+213.1% since first listed

5 events — show timeline

• 2026-06-03 Coming Soon $259,900 WCARE
• 2022-09-15 Sold (Public Records) $165,000 Public Records
• 2022-09-15 Sold (MLS) $165,000 WCARE
• 2022-06-01 Listed $159,900 WCARE
• 1994-08-16 Sold (Public Records) $83,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $2,843 · -11.1% YoY. Source: county tax records.