928 Burch Ave · Lima, OH 45801

$162,000

2 bd · 1.0 ba · 1,740 sqft · SingleFamily public records · 86 Days on market

Built 1913 8,755 sqft lot Est $162k · at est.

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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 +19.8/30.0
• ARV discount +7.4/15.0
• DSCR +6.3/10.0
• 1% rule +4.2/10.0
• 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

Listing remarks MLS

hud case#413-282642, fha insured financing available, home is sold as-is, hud will not make any repairs, electronic bidding via phone or internet only.....MCB makes no warranty as to the existence ofmold in this property, and is not liable for the potentially harmful effects thereof.

Key facts

• New metal roof
• Fresh paint
• 2 bedrooms added

Tags

• SPACIOUS ROOMS
• DEEP FENCED IN BACK YARD
• NEW VINYL SIDING
• NEW METAL ROOF
• FRESH PAINT
• 2 BEDROOMS ADDED

Property features AI

Finance

• Other: Property type: Residential; Lot: 0.2 acres (residential zoning)

Exterior

• Parking: Garage with 1 parking space
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Water connected
• Home design: Single-family residence; Two levels; Updated/remodeled
• Construction: Vinyl siding; Block foundation; Built with block foundation
• Exterior features: Covered patio/porch; Fenced yard; Detached garage structure

Interior

• Flooring: Hardwood; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Window air conditioning
• Interior features: Hardwood and laminate flooring; Living room fireplace; Unfinished block basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $162k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (7.6% below list).
• Recommended offer: $150k (7.6% below list) — sets the bar for 1% rule.

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; 7 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).
• This rent runs 35% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $30k; list at $162k implies a 434% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,767 (7.6% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1913 — 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. 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?
7. 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.
8. 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.
9. 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: 0.92% ✗
• Cap rate: 7.73%
• Cash-on-cash: 5.14%
• DSCR: 1.23
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $161,820
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1041 N Elizabeth St	0.32mi	3/2.0 (+1)	1,752 (+1%)	5mo	$100,000	$57	71
716 Ruth Ave	0.55mi	3/1.5 (+1)	1,714 (-2%)	0mo	$190,000	$111	65
735 N Main St	0.47mi	3/1.0 (+1)	1,638 (-6%)	6mo	$161,000	$98	58
720 N West St	0.23mi	3/2.0 (+1)	1,496 (-14%)	0mo	$90,000	$60	57
635 W Ashton Ave	0.21mi	3/2.0 (+1)	1,485 (-15%)	2mo	$188,000	$127	55
735 Brice Ave	0.64mi	3/2.0 (+1)	1,795 (+3%)	3mo	$155,000	$86	54
416 Hazel Ave	0.30mi	3/2.0 (+1)	1,494 (-14%)	1mo	$158,000	$106	52
458 W Mckibben St	0.49mi	3/2.0 (+1)	1,816 (+4%)	10mo	$150,000	$83	52
608 W Grand Ave	0.34mi	3/1.0 (+1)	1,548 (-11%)	10mo	$62,000	$40	52
517 Marian Ave	0.30mi	3/1.5 (+1)	1,552 (-11%)	11mo	$160,000	$103	52
623 N Metcalf St	0.45mi	3/1.5 (+1)	1,520 (-13%)	11mo	$141,000	$93	42
1000 Rice Ave	0.75mi	3/1.0 (+1)	1,485 (-15%)	12mo	$43,670	$29	26

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: -8.4%
• Equity multiple: 0.69×
• Total profit: $-13,943
• Equity at exit: $24,155

10-year hold

• IRR: 1.1%
• Equity multiple: 1.08×
• Total profit: $3,548
• Equity at exit: $14,007

Cash invested: $45,360 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,498 high
• Mortgage (P&I): −$850
• Tax from tax record: −$72 /mo · $864/yr
• Insurance: −$68
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $194

Break-even live

Break-even rent $1,252

Max offer price $162,000

Occupancy floor 82%

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: $40,500
• Closing costs: $4,860
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 W Ashton Ave Lima, OH	3.0	1.0	1288	$2,000	$1.55	43d	1	0.18mi
555 Haller St Lima, OH	3.0	2.0	1953	$1,700	$0.87	43d	1	0.48mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	43d	1	0.69mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$956	$0.87	43d	9	1.01mi
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	1.37mi
138 Harrison Ave Lima, OH	3.0	1.0	1152	$975	$0.85	43d	1	1.43mi

Listing history 25 events

1. 2026-06-19
   days on market $162,000 Active 86 DOM
2. 2026-06-18
   days on market $162,000 Active 85 DOM
3. 2026-06-17
   days on market $162,000 Active 84 DOM
4. 2026-06-16
   days on market $162,000 Active 83 DOM
5. 2026-06-15
   days on market $162,000 Active 82 DOM
6. 2026-06-14
   days on market $162,000 Active 80 DOM
7. 2026-06-12
   days on market $162,000 Active 79 DOM
8. 2026-06-09
   days on market $162,000 Active 76 DOM
9. 2026-06-08
   days on market $162,000 Active 75 DOM
10. 2026-06-07
    days on market $162,000 Active 74 DOM
11. 2026-06-07
    days on market $162,000 Active 73 DOM
12. 2026-06-04
    days on market $162,000 Active 70 DOM
13. 2026-06-02
    days on market $162,000 Active 69 DOM
14. 2026-06-01
    days on market $162,000 Active 68 DOM
15. 2026-05-31
    days on market $162,000 Active 67 DOM
16. 2026-05-31
    days on market $162,000 Active 66 DOM
17. 2026-04-27
    historical Active Under Contract
18. 2026-03-24
    listed $167,000 Active
19. 2025-10-09
    price $30,345 284-char remark

    Show marketing remark (284 chars)

    hud case#413-282642, fha insured financing available, home is sold as-is, hud will not make any repairs, electronic bidding via phone or internet only.....MCB makes no warranty as to the existence ofmold in this property, and is not liable for the potentially harmful effects thereof.

20. 2003-03-19
    soldstatus $30,345 284-char remark

    Show marketing remark (284 chars)

    hud case#413-282642, fha insured financing available, home is sold as-is, hud will not make any repairs, electronic bidding via phone or internet only.....MCB makes no warranty as to the existence ofmold in this property, and is not liable for the potentially harmful effects thereof.

21. 2003-02-06
    price $31,950 284-char remark

    Show marketing remark (284 chars)

    hud case#413-282642, fha insured financing available, home is sold as-is, hud will not make any repairs, electronic bidding via phone or internet only.....MCB makes no warranty as to the existence ofmold in this property, and is not liable for the potentially harmful effects thereof.

22. 2003-02-01
    listed $31,950 284-char remark

    Show marketing remark (284 chars)

    hud case#413-282642, fha insured financing available, home is sold as-is, hud will not make any repairs, electronic bidding via phone or internet only.....MCB makes no warranty as to the existence ofmold in this property, and is not liable for the potentially harmful effects thereof.

23. 2003-02-01
    historical

    Show marketing remark (284 chars)

    hud case#413-282642, fha insured financing available, home is sold as-is, hud will not make any repairs, electronic bidding via phone or internet only.....MCB makes no warranty as to the existence ofmold in this property, and is not liable for the potentially harmful effects thereof.

24. 2002-11-15
    listed $31,950
25. 1994-07-29
    soldstatus $39,000

ⓘ 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: $864 · $72/mo
• Projected year-2 tax: $1,695 · $141/mo
• Expected delta: +$832/yr (+$69/mo · 96.3%)

ⓘ 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: $17,972
• − Mortgage interest: −$9,075
• − Property taxes: −$864
• − Insurance: −$810
• − Repairs & maintenance: −$1,438
• − Management: −$1,438
• − Depreciation: −$4,713
• Taxable loss: −$364
• Est. tax savings @ 24.0%: +$87
• After-tax cash flow: $2,417/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

+328.2% since first listed

9 events — show timeline

• 2026-04-27 Contingent — WCARE
• 2026-03-24 Listed $167,000 WCARE
• 2025-10-09 Price Changed $30,345 NORIS
• 2003-03-19 Sold (MLS) $30,345 NORIS
• 2003-02-06 Price Changed $31,950 NORIS
• 2003-02-01 Listing Removed — NORIS
• 2003-02-01 Listed $31,950 NORIS
• 2002-11-15 Listed $31,950 NORIS
• 1994-07-29 Sold (Public Records) $39,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $864 · -5.4% YoY. Source: county tax records.