325 N Mcdonel St · Lima, OH 45801

$49,500

4 bd · 2.0 ba · 2,003 sqft · MultiFamily public records · 291 Days on market

Built 1920

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Welcome to 325 N McDonel Street, a spacious duplex in the heart of Lima, Ohio, offering 2,003 square feet of living space and a prime opportunity for investors or owner-occupants. This two-unit property features a total of four bedrooms and two full bathrooms, providing flexibility for rental income or multi-generational living. Recent updates include new gutters and porch repair, enhancing exterior maintenance and overall functionality. Built in 1920, the home blends vintage charm with practical features, including a basement for added storage. Located in Lima's Eastside neighborhood, the property sits on a manageable 0.048-acre lot and offers convenient access to downtown amenities, shopping, and public transportation. With an estimated rental income of $1,850 per month and affordable property taxes, this duplex presents a compelling investment with room to grow. Don't miss your chance to own a versatile property in a convenient location—schedule your showing today! 24 hour notice required for all showings.

Key facts

• Porch repair
• Manageable lot
• Spacious duplex

Tags

• SPACIOUS DUPLEX
• NEW GUTTERS
• PORCH REPAIR
• BASEMENT FOR STORAGE
• MANAGEABLE LOT
• CONVENIENT ACCESS

🏷️ Possibly a rental listed for sale. The $49,500 price doesn't fit this home's estimated sale value (~$99,174) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $50k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $742/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 42.3% 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.
• 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.
• Market conditions: 74 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• At $2,278/mo this rent would consume 53% of the median local household income ($52k/yr) (locally 1141% of renters already pay >50% of income on rent) — 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 $342 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 291 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $26k (34%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 291 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 4.60% ✓
• Cap rate: 42.27%
• Cash-on-cash: 128.50%
• DSCR: 6.72
• GRM: 1.8

CMA / ARV

• ARV (median comp): $99,174
• List price: $49,500
• Delta: -50.09%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
430 N Jameson Ave	0.72mi	4/2.0	2,088 (+4%)	11mo	$125,000	$60	50
685 W Spring St	0.47mi	5/2.0 (+1)	1,820 (-9%)	20mo	$75,000	$41	41

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: —
• Equity multiple: 7.24×
• Total profit: $86,528
• Equity at exit: $7,381

10-year hold

• IRR: —
• Equity multiple: 15.22×
• Total profit: $197,144
• Equity at exit: $4,280

Cash invested: $13,860 (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 45801

• Active inventory: 74
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,278 high
• Mortgage (P&I): −$260
• Tax from tax record: −$35 /mo · $422/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $1,484

Break-even live

Break-even rent $399

Max offer price $49,500

Occupancy floor 30%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,278
Total (2 units)			$2,278

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: $12,375
• Closing costs: $1,485
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
555 Haller St Lima, OH	3.0	2.0	1953	$1,700	$0.87	44d	1	0.35mi
228 Nye St Lima, OH	4.0	2.0	1686	$675	$0.40	44d	1	0.48mi

Listing history 23 events

1. 2026-06-17
   status $49,500 Pending 291 DOM
2. 2026-06-17
   days on market $49,500 Active 291 DOM
3. 2026-06-16
   days on market $49,500 Active 290 DOM
4. 2026-06-15
   days on market $49,500 Active 289 DOM
5. 2026-06-14
   days on market $49,500 Active 287 DOM
6. 2026-06-12
   days on market $49,500 Active 286 DOM
7. 2026-06-09
   days on market $49,500 Active 283 DOM
8. 2026-06-08
   days on market $49,500 Active 282 DOM
9. 2026-06-07
   days on market $49,500 Active 281 DOM
10. 2026-06-07
    days on market $49,500 Active 280 DOM
11. 2026-06-04
    days on market $49,500 Active 277 DOM
12. 2026-06-02
    days on market $49,500 Active 276 DOM
13. 2026-06-01
    days on market $49,500 Active 275 DOM
14. 2026-05-31
    days on market $49,500 Active 274 DOM
15. 2026-05-31
    days on market $49,500 Active 273 DOM
16. 2026-03-24
    status Active 1031-char remark

    Show marketing remark (1031 chars)

    Welcome to 325 N McDonel Street, a spacious duplex in the heart of Lima, Ohio, offering 2,003 square feet of living space and a prime opportunity for investors or owner-occupants. This two-unit property features a total of four bedrooms and two full bathrooms, providing flexibility for rental income or multi-generational living. Recent updates include new gutters and porch repair, enhancing exterior maintenance and overall functionality. Built in 1920, the home blends vintage charm with practical features, including a basement for added storage. Located in Lima's Eastside neighborhood, the property sits on a manageable 0.048-acre lot and offers convenient access to downtown amenities, shopping, and public transportation. With an estimated rental income of $1,850 per month and affordable property taxes, this duplex presents a compelling investment with room to grow. Don't miss your chance to own a versatile property in a convenient location—schedule your showing today! 24 hour notice required for all showings.

17. 2026-03-03
    historical Active Under Contract 1031-char remark

    Show marketing remark (1031 chars)

    Welcome to 325 N McDonel Street, a spacious duplex in the heart of Lima, Ohio, offering 2,003 square feet of living space and a prime opportunity for investors or owner-occupants. This two-unit property features a total of four bedrooms and two full bathrooms, providing flexibility for rental income or multi-generational living. Recent updates include new gutters and porch repair, enhancing exterior maintenance and overall functionality. Built in 1920, the home blends vintage charm with practical features, including a basement for added storage. Located in Lima's Eastside neighborhood, the property sits on a manageable 0.048-acre lot and offers convenient access to downtown amenities, shopping, and public transportation. With an estimated rental income of $1,850 per month and affordable property taxes, this duplex presents a compelling investment with room to grow. Don't miss your chance to own a versatile property in a convenient location—schedule your showing today! 24 hour notice required for all showings.

18. 2025-12-02
    price $49,500 1031-char remark

    Show marketing remark (1031 chars)

    Welcome to 325 N McDonel Street, a spacious duplex in the heart of Lima, Ohio, offering 2,003 square feet of living space and a prime opportunity for investors or owner-occupants. This two-unit property features a total of four bedrooms and two full bathrooms, providing flexibility for rental income or multi-generational living. Recent updates include new gutters and porch repair, enhancing exterior maintenance and overall functionality. Built in 1920, the home blends vintage charm with practical features, including a basement for added storage. Located in Lima's Eastside neighborhood, the property sits on a manageable 0.048-acre lot and offers convenient access to downtown amenities, shopping, and public transportation. With an estimated rental income of $1,850 per month and affordable property taxes, this duplex presents a compelling investment with room to grow. Don't miss your chance to own a versatile property in a convenient location—schedule your showing today! 24 hour notice required for all showings.

19. 2025-09-17
    price $55,000 1031-char remark

    Show marketing remark (1031 chars)

    Welcome to 325 N McDonel Street, a spacious duplex in the heart of Lima, Ohio, offering 2,003 square feet of living space and a prime opportunity for investors or owner-occupants. This two-unit property features a total of four bedrooms and two full bathrooms, providing flexibility for rental income or multi-generational living. Recent updates include new gutters and porch repair, enhancing exterior maintenance and overall functionality. Built in 1920, the home blends vintage charm with practical features, including a basement for added storage. Located in Lima's Eastside neighborhood, the property sits on a manageable 0.048-acre lot and offers convenient access to downtown amenities, shopping, and public transportation. With an estimated rental income of $1,850 per month and affordable property taxes, this duplex presents a compelling investment with room to grow. Don't miss your chance to own a versatile property in a convenient location—schedule your showing today! 24 hour notice required for all showings.

20. 2025-08-25
    price $65,000 1031-char remark

    Show marketing remark (1031 chars)

    Welcome to 325 N McDonel Street, a spacious duplex in the heart of Lima, Ohio, offering 2,003 square feet of living space and a prime opportunity for investors or owner-occupants. This two-unit property features a total of four bedrooms and two full bathrooms, providing flexibility for rental income or multi-generational living. Recent updates include new gutters and porch repair, enhancing exterior maintenance and overall functionality. Built in 1920, the home blends vintage charm with practical features, including a basement for added storage. Located in Lima's Eastside neighborhood, the property sits on a manageable 0.048-acre lot and offers convenient access to downtown amenities, shopping, and public transportation. With an estimated rental income of $1,850 per month and affordable property taxes, this duplex presents a compelling investment with room to grow. Don't miss your chance to own a versatile property in a convenient location—schedule your showing today! 24 hour notice required for all showings.

21. 2025-08-09
    listed $75,000 Active 1031-char remark

    Show marketing remark (1031 chars)

    Welcome to 325 N McDonel Street, a spacious duplex in the heart of Lima, Ohio, offering 2,003 square feet of living space and a prime opportunity for investors or owner-occupants. This two-unit property features a total of four bedrooms and two full bathrooms, providing flexibility for rental income or multi-generational living. Recent updates include new gutters and porch repair, enhancing exterior maintenance and overall functionality. Built in 1920, the home blends vintage charm with practical features, including a basement for added storage. Located in Lima's Eastside neighborhood, the property sits on a manageable 0.048-acre lot and offers convenient access to downtown amenities, shopping, and public transportation. With an estimated rental income of $1,850 per month and affordable property taxes, this duplex presents a compelling investment with room to grow. Don't miss your chance to own a versatile property in a convenient location—schedule your showing today! 24 hour notice required for all showings.

22. 2015-04-30
    soldstatus $35,900
23. 2002-02-04
    soldstatus $15,166

ⓘ 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: $422 · $35/mo
• Projected year-2 tax: $597 · $50/mo
• Expected delta: +$175/yr (+$15/mo · 41.4%)

ⓘ 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: $27,336
• − Mortgage interest: −$2,773
• − Property taxes: −$422
• − Insurance: −$248
• − Repairs & maintenance: −$2,187
• − Management: −$2,187
• − Depreciation: −$1,440
• Taxable income: $18,080
• Est. tax owed @ 24.0%: −$4,339
• After-tax cash flow: $13,472/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 County · 21,739 people
• City population: 21,739
• Metro: Lima, OH
• Population (ZIP): 21,739
• Household income: $51,731
• Rent vs Own: 45.7% rent · 54.3% own
• Severe rent burden: 1141.0

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 (71%)
• Race & ethnicity: White 71% Black 14% Two or more races 8% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -164.79%
• Current HPI: 219.5329
• Rent YoY: —
• Metro: Lima, OH
• 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

+226.4% since first listed

8 events — show timeline

• 2026-03-24 Relisted — WCARE
• 2026-03-03 Contingent — WCARE
• 2025-12-02 Price Changed $49,500 WCARE
• 2025-09-17 Price Changed $55,000 WCARE
• 2025-08-25 Price Changed $65,000 WCARE
• 2025-08-09 Listed $75,000 WCARE
• 2015-04-30 Sold (Public Records) $35,900 Public Records
• 2002-02-04 Sold (Public Records) $15,166 Public Records

Property tax history

-4.4%/yr

Latest (2025): $422 · -15.0% YoY. Source: county tax records.