1859 N Eastown Rd · Lima, OH 45807

$239,500

3 bd · 2.0 ba · 1,584 sqft · SingleFamily public records · 20 Days on market

Built 1963 $151/sqft · 29% below area Est $336k · 29% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +7.8/30.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.9/10.0

Listing remarks MLS

This 1584 square foot single family home has 3 bedrooms and 2.0 bathrooms. This home is located at 1859 N Eastown Rd, Lima, OH 45807.

Key facts

• 3 garage spots
• Built 1963
• Listed 19 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $-261 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (19.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (30.8% below list).
• Recommended offer: $166k (30.8% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 7.7% in Lima — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 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 $26k of equity ($2k loan paydown + $24k 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 ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $190k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $165,711 (30.8% 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 1963 — 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. 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?
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: 0.69% ✗
• Cap rate: 4.99%
• Cash-on-cash: -4.67%
• DSCR: 0.79
• GRM: 12.0

CMA / ARV

• ARV (median comp): $336,271
• List price: $239,500
• Delta: -22.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1629 Chandler Dr	0.62mi	3/2.0	1,562 (-1%)	1mo	$195,000	$125	68
1558 Chancellor Dr	0.39mi	3/2.5	1,674 (+6%)	3mo	$369,000	$220	68
3432 Musser Dr	0.37mi	3/2.0	1,548 (-2%)	14mo	$224,900	$145	68
1392 Chancellor Dr	0.54mi	3/2.0	1,494 (-6%)	4mo	$270,000	$181	62
1515 Cessna Ave	0.58mi	3/2.0	1,504 (-5%)	4mo	$295,000	$196	61
3680 Sky Hawk Dr	0.41mi	3/2.0	1,768 (+12%)	0mo	$373,500	$211	61
3701 Cherokee Dr	0.48mi	3/2.0	1,628 (+3%)	16mo	$256,200	$157	59
1641 Whitehall Dr	0.67mi	3/2.0	1,679 (+6%)	1mo	$215,000	$128	58
3721 Sky Hawk Dr	0.46mi	3/2.0	1,804 (+14%)	8mo	$392,850	$218	49
53 Beaumont Pl	0.73mi	3/2.0	1,444 (-9%)	8mo	$195,000	$135	45
2023 Arlington Dr	0.55mi	3/1.0	1,404 (-11%)	12mo	$193,125	$138	42
1660 Victoria Ln	0.72mi	3/2.0	1,735 (+10%)	15mo	$170,000	$98	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: 21.0%
• Equity multiple: 2.70×
• Total profit: $113,792
• Equity at exit: $215,761

10-year hold

• IRR: 19.0%
• Equity multiple: 6.19×
• Total profit: $348,114
• Equity at exit: $465,296

Cash invested: $67,060 (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: 12.0×

Monthly cashflow live

• Estimated rent: $1,657 medium
• Mortgage (P&I): −$1,256
• Tax from tax record: −$214 /mo · $2,571/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $-261

Break-even live

Break-even rent $1,987

Max offer price $193,407

Occupancy floor —

Sensitivity live

Price	-10% $-125	-5% $-193	+0% $-261	+5% $-329	+10% $-396
Rent	-10% $-392	-5% $-326	+0% $-261	+5% $-195	+10% $-130
Rate	-1.0pp $-140	-0.5pp $-200	base $-261	+0.5pp $-323	+1.0pp $-386

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: $59,875
• Closing costs: $7,185
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-19
   days on market $239,500 Active 20 DOM
2. 2026-06-18
   days on market $239,500 Active 19 DOM
3. 2026-06-17
   days on market $239,500 Active 18 DOM
4. 2026-06-16
   pricedays on market $239,500 Active 17 DOM
5. 2026-06-15
   days on market $246,000 Active 16 DOM
6. 2026-06-14
   days on market $246,000 Active 14 DOM
7. 2026-06-12
   days on market $246,000 Active 13 DOM
8. 2026-06-08
   days on market $246,000 Active 9 DOM
9. 2026-06-07
   days on market $246,000 Active 8 DOM
10. 2026-06-05
    days on market $246,000 Active 6 DOM
11. 2026-06-04
    days on market $246,000 Active 4 DOM
12. 2026-06-02
    days on market $246,000 Active 3 DOM
13. 2026-06-01
    days on market $246,000 Active 2 DOM
14. 2026-05-31
    remarks 699-char remark
15. 2026-05-31
    pricedays on marketlisting id $246,000 Active 1 DOM
16. 2026-05-12
    listed $260,000 Active 133-char remark

    Show marketing remark (133 chars)

    This 1584 square foot single family home has 3 bedrooms and 2.0 bathrooms. This home is located at 1859 N Eastown Rd, Lima, OH 45807.

17. 2024-07-18
    soldstatus $189,900
18. 2024-07-17
    status Pending 1202-char remark

    Show marketing remark (1202 chars)

    Welcome home, where accessibility meets endless potential! Nestled in Elida school district, this charming 3-bedroom, 2-bathroom residence offers not only comfort but also convenience. The thoughtful inclusion of a handicap-accessible ramp in the garage ensures effortless entry and exit, making daily life a breeze for everyone. Plus, with all furniture included in the purchase, the transition to your new abode couldn't be smoother. Prepare to be captivated by the beautifully updated bathroom, boasting modern amenities and an accessible bath to accommodate every member of the household. But that's not all - this property is brimming with possibilities! With ample space and a layout that invites creativity, you'll have the freedom to tailor each room to suit your unique vision. From cozy family gatherings to lively entertaining, the options are truly endless. Conveniently located near shopping and dining options, you'll never be far from the essentials. Whether you're running errands or indulging in a night out, everything you need is just a stone's throw away. All furniture and appliances comes with the house. House sold AS IS. Your dream home awaits - don't hesitate to make it yours!

19. 2024-07-16
    soldstatus $189,900 Closed 1202-char remark

    Show marketing remark (1202 chars)

    Welcome home, where accessibility meets endless potential! Nestled in Elida school district, this charming 3-bedroom, 2-bathroom residence offers not only comfort but also convenience. The thoughtful inclusion of a handicap-accessible ramp in the garage ensures effortless entry and exit, making daily life a breeze for everyone. Plus, with all furniture included in the purchase, the transition to your new abode couldn't be smoother. Prepare to be captivated by the beautifully updated bathroom, boasting modern amenities and an accessible bath to accommodate every member of the household. But that's not all - this property is brimming with possibilities! With ample space and a layout that invites creativity, you'll have the freedom to tailor each room to suit your unique vision. From cozy family gatherings to lively entertaining, the options are truly endless. Conveniently located near shopping and dining options, you'll never be far from the essentials. Whether you're running errands or indulging in a night out, everything you need is just a stone's throw away. All furniture and appliances comes with the house. House sold AS IS. Your dream home awaits - don't hesitate to make it yours!

20. 2024-05-14
    historical Active Under Contract 1202-char remark

    Show marketing remark (1202 chars)

    Welcome home, where accessibility meets endless potential! Nestled in Elida school district, this charming 3-bedroom, 2-bathroom residence offers not only comfort but also convenience. The thoughtful inclusion of a handicap-accessible ramp in the garage ensures effortless entry and exit, making daily life a breeze for everyone. Plus, with all furniture included in the purchase, the transition to your new abode couldn't be smoother. Prepare to be captivated by the beautifully updated bathroom, boasting modern amenities and an accessible bath to accommodate every member of the household. But that's not all - this property is brimming with possibilities! With ample space and a layout that invites creativity, you'll have the freedom to tailor each room to suit your unique vision. From cozy family gatherings to lively entertaining, the options are truly endless. Conveniently located near shopping and dining options, you'll never be far from the essentials. Whether you're running errands or indulging in a night out, everything you need is just a stone's throw away. All furniture and appliances comes with the house. House sold AS IS. Your dream home awaits - don't hesitate to make it yours!

21. 2024-05-03
    listed $194,900 Active 1202-char remark

    Show marketing remark (1202 chars)

    Welcome home, where accessibility meets endless potential! Nestled in Elida school district, this charming 3-bedroom, 2-bathroom residence offers not only comfort but also convenience. The thoughtful inclusion of a handicap-accessible ramp in the garage ensures effortless entry and exit, making daily life a breeze for everyone. Plus, with all furniture included in the purchase, the transition to your new abode couldn't be smoother. Prepare to be captivated by the beautifully updated bathroom, boasting modern amenities and an accessible bath to accommodate every member of the household. But that's not all - this property is brimming with possibilities! With ample space and a layout that invites creativity, you'll have the freedom to tailor each room to suit your unique vision. From cozy family gatherings to lively entertaining, the options are truly endless. Conveniently located near shopping and dining options, you'll never be far from the essentials. Whether you're running errands or indulging in a night out, everything you need is just a stone's throw away. All furniture and appliances comes with the house. House sold AS IS. Your dream home awaits - don't hesitate to make it yours!

ⓘ 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: $2,571 · $214/mo
• Projected year-2 tax: $3,154 · $263/mo
• Expected delta: +$582/yr (+$49/mo · 22.6%)

ⓘ 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: $19,885
• − Mortgage interest: −$13,416
• − Property taxes: −$2,571
• − Insurance: −$1,198
• − Repairs & maintenance: −$1,591
• − Management: −$1,591
• − Depreciation: −$6,967
• Taxable loss: −$7,448
• Est. tax savings @ 24.0%: +$1,788
• After-tax cash flow: $-1,344/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): 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

+33.4% since first listed

6 events — show timeline

• 2026-05-12 Listed $260,000 FSBO.com
• 2024-07-18 Sold (Public Records) $189,900 Public Records
• 2024-07-17 Pending — WCARE
• 2024-07-16 Sold (MLS) $189,900 WCARE
• 2024-05-14 Contingent — WCARE
• 2024-05-03 Listed $194,900 WCARE

Property tax history

+2.9%/yr

Latest (2025): $2,571 · -3.7% YoY. Source: county tax records.