136 E O'connor Ave · Lima, OH 45801

$55,000

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 26 Days on market

Built 1915 $44/sqft · 53% below area

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

INVESTORS SPECIAL!!! Great opportunity to add to your portfolio as a rental or fix and flip. This 2 story home sits on a corner lot with a fenced backyard. Offering 3 bedrooms, spacious living room with a fireplace, formal dining and all original hardwood flooring. Call to schedule a private showing. Selling 'AS IS' Cash sale only

Key facts

• Fenced backyard
• Corner lot
• Built 1915

Tags

• CORNER LOT
• FENCED BACKYARD
• ORIGINAL HARDWOOD FLOORING

Property features AI

Exterior

• Parking: Parking pad
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Residential zoning; Fixer condition
• Construction: Wood siding exterior; Block foundation; Built with block basement
• Exterior features: Covered, enclosed porch; Fenced yard; Shed(s) on property; Corner lot

Interior

• Flooring: Hardwood; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Hardwood and vinyl flooring; Basement with block construction

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $858 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 25.0% vs local median 7.6% 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $380 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.78% ✓
• Cap rate: 25.01%
• Cash-on-cash: 66.84%
• DSCR: 3.97
• GRM: 3.0

CMA / ARV

• ARV (median comp): $117,431
• List price: $55,000
• Delta: -53.16%
• 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
136 E O'connor Ave	0.00mi	3/1.0	1,248 (0%)	1mo	$48,500	$39	99
1200 N Main St	0.17mi	3/2.0	1,352 (+8%)	0mo	$114,900	$85	74
500 W Northern Ave	0.75mi	3/1.0	1,232 (-1%)	2mo	$215,000	$175	62
400 W Northern Ave	0.66mi	3/2.0	1,256 (+1%)	4mo	$161,000	$128	61
1809 N Metcalf St	0.61mi	3/2.5	1,176 (-6%)	0mo	$199,900	$170	56
711 Taylor Avenue Ave	0.52mi	3/2.0	1,344 (+8%)	5mo	$41,000	$31	55
128 E Lane Ave	0.42mi	3/1.0	1,083 (-13%)	4mo	$165,000	$152	55
1889 N Metcalf St	0.62mi	3/1.5	1,148 (-8%)	3mo	$175,000	$152	53
622 N Jefferson St	0.73mi	3/2.0	1,292 (+4%)	4mo	$115,000	$89	53
1118 N Baxter St	0.72mi	3/1.0	1,152 (-8%)	5mo	$55,000	$48	49
812 Christopher Dr	0.57mi	3/1.5	1,100 (-12%)	3mo	$71,500	$65	49
606 N West St	0.67mi	3/1.0	1,391 (+12%)	5mo	$82,400	$59	45

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: 66.1%
• Equity multiple: 3.97×
• Total profit: $45,726
• Equity at exit: $8,201

10-year hold

• IRR: 70.4%
• Equity multiple: 8.15×
• Total profit: $110,187
• Equity at exit: $4,755

Cash invested: $15,400 (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 45801

• Active inventory: 74
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $1,530 high
• Mortgage (P&I): −$288
• Tax from tax record: −$40 /mo · $478/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $858

Break-even live

Break-even rent $445

Max offer price $55,000

Occupancy floor 39%

Sensitivity live

Price	-10% $889	-5% $873	+0% $858	+5% $842	+10% $827
Rent	-10% $737	-5% $797	+0% $858	+5% $918	+10% $979
Rate	-1.0pp $885	-0.5pp $872	base $858	+0.5pp $844	+1.0pp $829

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 5 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	45d	1	0.35mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	45d	1	1.11mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$1,413	$1.28	45d	9	1.17mi
545 W Market St Unit 340 1/2 Mcpheron Lima, OH	2.0	1.0	900	$800	$0.89	45d	1	1.29mi
138 Harrison Ave Lima, OH	3.0	1.0	1152	$975	$0.85	45d	1	1.37mi

Listing history 16 events

1. 2026-05-13
   price $55,000 332-char remark
2. 2026-04-29
   price $60,000 332-char remark
3. 2026-04-23
   listed $65,000 Active 332-char remark
4. 2025-10-24
   price $67,000
5. 2025-09-22
   listed $72,000 Active
6. 2025-08-18
   historical
7. 2025-05-22
   price $79,900
8. 2025-05-01
   listed $84,900 Active
9. 2022-07-07
   soldstatus $63,000
10. 2022-07-06
    soldstatus $63,000
11. 2022-07-06
    soldstatus $63,000 Closed
12. 2022-06-27
    status Pending
13. 2022-06-20
    price $69,000
14. 2022-06-09
    listed $69,000
15. 2022-06-09
    listed $79,500 Active
16. 2001-12-05
    soldstatus $30,000

ⓘ 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: $478 · $40/mo
• Projected year-2 tax: $668 · $56/mo
• Expected delta: +$190/yr (+$16/mo · 39.7%)

ⓘ 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: $18,364
• − Mortgage interest: −$3,081
• − Property taxes: −$478
• − Insurance: −$275
• − Repairs & maintenance: −$1,469
• − Management: −$1,469
• − Depreciation: −$1,600
• Taxable income: $9,992
• Est. tax owed @ 24.0%: −$2,398
• After-tax cash flow: $7,895/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

+61.7% since first listed

18 events — show timeline

• 2026-05-28 Sold (MLS) $48,500 WCARE
• 2026-05-20 Pending — WCARE
• 2026-05-13 Price Changed $55,000 WCARE
• 2026-04-29 Price Changed $60,000 WCARE
• 2026-04-23 Listed $65,000 WCARE
• 2025-10-24 Price Changed $67,000 WCARE
• 2025-09-22 Listed $72,000 WCARE
• 2025-08-18 Listing Removed — NORIS
• 2025-05-22 Price Changed $79,900 NORIS
• 2025-05-01 Listed $84,900 NORIS
• 2022-07-07 Sold (Public Records) $63,000 Public Records
• 2022-07-06 Sold (MLS) $63,000 WCARE
• 2022-07-06 Sold (MLS) $63,000 WRIST
• 2022-06-27 Pending — WRIST
• 2022-06-20 Price Changed $69,000 WRIST
• 2022-06-09 Listed $69,000 WCARE
• 2022-06-09 Listed $79,500 WRIST
• 2001-12-05 Sold (Public Records) $30,000 Public Records

Property tax history

-2.2%/yr

Latest (2025): $478 · -1.8% YoY. Source: county tax records.