1580 W Robb Ave · Lima, OH 45805

$109,900

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 127 Days on market

Built 1963 1.17 ac lot $121/sqft · 14% below area Est $128k · 14% under

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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 +27.6/30.0
• ARV discount +14.0/15.0
• DSCR +9.7/10.0
• 1% rule +7.7/10.0
• Schools +5.0/10.0
• 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

Great location for this 2 bedroom 1 bath home in Elida school district. Home features a large living room and enclosed porch. Laundry room. Beautiful 1.17 acre lot with lots of mature shade trees. 2 car garage.

Key facts

• Laundry room
• Large living room
• Enclosed porch

Tags

• LARGE LIVING ROOM
• ENCLOSED PORCH
• LAUNDRY ROOM
• 1.17 ACRE LOT
• MATURE SHADE TREES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 7.7% in Lima — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• 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: 105 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 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 $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $12k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; list at $110k implies a 96% gain — meaningful room to come down on a strong offer.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.27% ✓
• Cap rate: 9.87%
• Cash-on-cash: 12.77%
• DSCR: 1.57
• GRM: 6.5

CMA / ARV

• ARV (median comp): $128,458
• List price: $109,900
• Delta: -14.45%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1153 Bahama Dr	0.36mi	3/1.0 (+1)	1,026 (+12%)	10mo	$150,000	$146	49
806 Ewing Ave	0.75mi	3/1.0 (+1)	992 (+9%)	1mo	$31,000	$31	45
1372 Latham Ave	0.61mi	2/1.0	1,019 (+12%)	9mo	$125,000	$123	44
1121 Bahama Dr	0.44mi	3/1.0 (+1)	1,026 (+12%)	11mo	$142,450	$139	44
765 W Lane Ave	0.69mi	3/1.0 (+1)	999 (+10%)	5mo	$141,000	$141	42
1128 Bahama Dr	0.42mi	3/1.0 (+1)	1,026 (+12%)	16mo	$139,900	$136	42
1120 Melrose St	0.64mi	3/1.0 (+1)	1,040 (+14%)	2mo	$165,000	$159	40
1011 Logan Ave	0.53mi	2/1.0	792 (-13%)	23mo	$110,000	$139	34
805 N Nixon Ave	0.68mi	2/2.0	1,036 (+14%)	20mo	$169,500	$164	25

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: 2.6%
• Equity multiple: 1.10×
• Total profit: $3,084
• Equity at exit: $16,386

10-year hold

• IRR: 12.2%
• Equity multiple: 1.96×
• Total profit: $29,679
• Equity at exit: $9,502

Cash invested: $30,772 (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 45805

• Active inventory: 105
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,400 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$156 /mo · $1,876/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $328

Break-even live

Break-even rent $985

Max offer price $109,900

Occupancy floor 72%

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1014 W Market St Apt 3 Lima, OH	2.0	1.0	800	$1,400	$1.75	43d	1	1.34mi

Listing history 22 events

1. 2026-06-19
   days on market $109,900 Active 127 DOM
2. 2026-06-18
   days on market $109,900 Active 126 DOM
3. 2026-06-17
   days on market $109,900 Active 125 DOM
4. 2026-06-16
   days on market $109,900 Active 124 DOM
5. 2026-06-15
   days on market $109,900 Active 123 DOM
6. 2026-06-14
   days on market $109,900 Active 121 DOM
7. 2026-06-12
   days on market $109,900 Active 120 DOM
8. 2026-06-08
   days on market $109,900 Active 116 DOM
9. 2026-06-07
   days on market $109,900 Active 115 DOM
10. 2026-06-05
    days on market $109,900 Active 113 DOM
11. 2026-06-04
    days on market $109,900 Active 111 DOM
12. 2026-06-02
    days on market $109,900 Active 110 DOM
13. 2026-06-01
    days on market $109,900 Active 109 DOM
14. 2026-05-31
    days on market $109,900 Active 108 DOM
15. 2026-05-31
    days on market $109,900 Active 107 DOM
16. 2026-03-09
    status Active 212-char remark

    Show marketing remark (212 chars)

    Great location for this 2 bedroom 1 bath home in Elida school district. Home features a large living room and enclosed porch. Laundry room. Beautiful 1.17 acre lot with lots of mature shade trees. 2 car garage.

17. 2026-03-09
    price $109,900 212-char remark

    Show marketing remark (212 chars)

    Great location for this 2 bedroom 1 bath home in Elida school district. Home features a large living room and enclosed porch. Laundry room. Beautiful 1.17 acre lot with lots of mature shade trees. 2 car garage.

18. 2025-10-31
    status Active 212-char remark

    Show marketing remark (212 chars)

    Great location for this 2 bedroom 1 bath home in Elida school district. Home features a large living room and enclosed porch. Laundry room. Beautiful 1.17 acre lot with lots of mature shade trees. 2 car garage.

19. 2025-10-06
    status Pending 212-char remark

    Show marketing remark (212 chars)

    Great location for this 2 bedroom 1 bath home in Elida school district. Home features a large living room and enclosed porch. Laundry room. Beautiful 1.17 acre lot with lots of mature shade trees. 2 car garage.

20. 2025-09-11
    listed $121,500 Active 212-char remark

    Show marketing remark (212 chars)

    Great location for this 2 bedroom 1 bath home in Elida school district. Home features a large living room and enclosed porch. Laundry room. Beautiful 1.17 acre lot with lots of mature shade trees. 2 car garage.

21. 1999-01-05
    soldstatus $56,000
22. 1996-02-27
    soldstatus $42,000

ⓘ 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: $1,876 · $156/mo
• Projected year-2 tax: $1,876 · $156/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $16,800
• − Mortgage interest: −$6,156
• − Property taxes: −$1,876
• − Insurance: −$550
• − Repairs & maintenance: −$1,344
• − Management: −$1,344
• − Depreciation: −$3,197
• Taxable income: $2,333
• Est. tax owed @ 24.0%: −$560
• After-tax cash flow: $3,370/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 — 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

+161.7% since first listed

7 events — show timeline

• 2026-03-09 Relisted — WCARE
• 2026-03-09 Price Changed $109,900 WCARE
• 2025-10-31 Relisted — WCARE
• 2025-10-06 Pending — WCARE
• 2025-09-11 Listed $121,500 WCARE
• 1999-01-05 Sold (Public Records) $56,000 Public Records
• 1996-02-27 Sold (Public Records) $42,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $1,876 · +0.7% YoY. Source: county tax records.