106 Burntwood Unit BU106 · Lima, OH 45805

$30,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 70 Days on market

Built 2026 Good condition $25/sqft · 22% above area Est $25k · 22% over

---

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
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

* THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $30k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $856 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $28k (6.0% below list) — sets the bar for market timing.
• Cap rate 40.6% 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.
• 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $207 of loan paydown is wiped out by about $900 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 70 days — a 6% lower offer ($28k) is reasonable based on typical stale-listing flexibility.

Recommended offer $28,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 70 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 4.49% ✓
• Cap rate: 40.55%
• Cash-on-cash: 122.35%
• DSCR: 6.44
• GRM: 1.9

CMA / ARV

• ARV (median comp): $24,655
• List price: $30,000
• Delta: 21.68%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
105 Concord Pl	0.29mi	3/2.0	1,216 (0%)	21mo	$58,900	$48	69
102 Charwood Dr	0.22mi	3/1.5	1,344 (+10%)	2mo	$29,900	$22	69

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: 6.92×
• Total profit: $49,705
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 14.52×
• Total profit: $113,602
• Equity at exit: $2,594

Cash invested: $8,400 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,347 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $856

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 31%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	43d	1	1.15mi
1436 W High St Lima, OH	2.0	1.0	1205	$895	$0.74	43d	1	1.20mi
1014 W Market St Apt 3 Lima, OH	2.0	1.0	800	$1,400	$1.75	43d	1	1.50mi

Listing history 16 events

1. 2026-06-19
   days on market $30,000 Active 70 DOM
2. 2026-06-18
   days on market $30,000 Active 69 DOM
3. 2026-06-17
   days on market $30,000 Active 68 DOM
4. 2026-06-16
   days on market $30,000 Active 67 DOM
5. 2026-06-15
   days on market $30,000 Active 66 DOM
6. 2026-06-14
   days on market $30,000 Active 64 DOM
7. 2026-06-12
   days on market $30,000 Active 63 DOM
8. 2026-06-08
   days on market $30,000 Active 59 DOM
9. 2026-06-07
   days on market $30,000 Active 58 DOM
10. 2026-06-05
    days on market $30,000 Active 56 DOM
11. 2026-06-04
    days on market $30,000 Active 54 DOM
12. 2026-06-02
    days on market $30,000 Active 53 DOM
13. 2026-06-01
    days on market $30,000 Active 52 DOM
14. 2026-05-31
    days on market $30,000 Active 51 DOM
15. 2026-05-31
    days on market $30,000 Active 50 DOM
16. 2026-04-10
    listed $30,000 Active 376-char remark

    Show marketing remark (376 chars)

    * THIS IS A RESALE LISTING * You'll love living in this 3 bedroom, 2 bathroom home within a wonderful family-friendly community. Check out the awesome amenities your community has to offer such as community events, , , and more! This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 · 17 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: $16,158
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,293
• − Management: −$1,293
• − Depreciation: −$873
• Taxable income: $10,420
• Est. tax owed @ 24.0%: −$2,501
• After-tax cash flow: $7,776/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.

Condition & rehab AI · 7 photos

Good 75/100 Cosmetic rehab

This 3-bedroom, 2-bathroom manufactured home is in good condition with a good condition score of 75. It has a cosmetic rehab level and minimal repairs needed. The home has a good foundation and structure, and the kitchen and bathroom are in good condition. The home has a good roof and exterior, and the flooring is in good condition. The interior walls and paint are in good condition, and the windows are in good condition. The home has a good HVAC system and mechanicals. The home has a good landscaping and curb appeal. The home has a good resale and rental value with a few updates that would increase its value.

Value-add opportunities

• Both Paint interior walls and trim for a fresh look. — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Install new flooring in high-traffic areas for durability and appeal. — New flooring can improve the home's appearance and increase its value.
• Both Add landscaping around the home to improve curb appeal. — Landscaping can significantly enhance the home's curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls and trim for a fresh look. — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Install new flooring in high-traffic areas for durability and appeal. — New flooring can improve the home's appearance and increase its value. ↑
• Both Add landscaping around the home to improve curb appeal. — Landscaping can significantly enhance the home's curb appeal and attract more potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Census place: Lima, OH
• 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

1 event — show timeline

• 2026-04-10 Listed $30,000 Zillow