949 Leland Ave · Lima, OH 45805

$89,000

2 bd · 1.0 ba · 1,136 sqft · SingleFamily public records · 144 Days on market

Built 1908 6,141 sqft lot $78/sqft · at area comps Est $92k · at est.

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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 +8.9/15.0
• 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 MLS

Investors! TURNKEY, tenant occupied property! Ready to go! This 3 bedroom, one full bath home is ready for a new owner! Excellent tenant! $1100/month cash income plus tenant pays gas/electric. This home offers 1136 square feet with plenty of space! Main level offers a large kitchen with dinette area, dining room, living room and closet areas! Second level offers 2 nice sized bedrooms, a full bathroom and ample closet spaces! Basement offers a 3rd finished bedroom area! Updates include: Roof within 10 years, refinished hardwood floors on main level, LVP flooring in kitchen, 1st floor laundry moved from basement, fully updated electrical wiring and electrical panel, hot water tank, room in basement finished for additional bedroom space, some ductwork, interior paint, and hardwood floors on second level refinished! Furnace year unknown, works great, no issues. Nice lot, quiet street! Close to downtown Lima, restaurants, shopping, hospital, parks and more! Selling AS IS, no seller financing. Solid property, income and tenant! Hurry this will not last long!

Key facts

• Living room
• Large kitchen
• Dining room

Tags

• LARGE KITCHEN
• DINING ROOM
• LIVING ROOM
• FINISHED BEDROOM AREA
• REFINISHED HARDWOOD FLOORS
• LVP FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.7% 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.
• 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: 105 active listings in the ZIP; 8 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 $615 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $34k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 1908 — 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: 1.57% ✓
• Cap rate: 13.70%
• Cash-on-cash: 26.45%
• DSCR: 2.18
• GRM: 5.3

CMA / ARV

• ARV (median comp): $91,922
• List price: $89,000
• Delta: -3.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
914 W Murphy St	0.36mi	3/2.0 (+1)	1,144 (+1%)	4mo	$112,000	$98	70
753 Brice Ave	0.39mi	3/1.5 (+1)	1,108 (-2%)	3mo	$85,000	$77	68
631 Hazel Ave	0.25mi	3/1.0 (+1)	1,248 (+10%)	2mo	$137,000	$110	65
1245 Latham Ave	0.41mi	3/1.0 (+1)	1,066 (-6%)	1mo	$145,000	$136	64
1407 Latham Ave	0.48mi	3/1.0 (+1)	1,066 (-6%)	2mo	$130,000	$122	61
1120 Melrose St	0.42mi	3/1.0 (+1)	1,040 (-8%)	2mo	$165,000	$159	60
1605 Hazel Ave	0.73mi	2/2.0	1,140 (+0%)	2mo	$160,000	$140	60
806 Ewing Ave	0.31mi	3/1.0 (+1)	992 (-13%)	1mo	$31,000	$31	59
765 Ewing Ave	0.33mi	3/1.0 (+1)	1,006 (-11%)	4mo	$157,000	$156	57
1027 Sherman Ave	0.54mi	3/1.0 (+1)	1,052 (-7%)	4mo	$130,000	$124	54
923 Burch Ave	0.67mi	2/1.0	1,029 (-9%)	0mo	$142,000	$138	53
1000 W Elm St	0.74mi	3/2.0 (+1)	1,296 (+14%)	4mo	$133,000	$103	30

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: 20.2%
• Equity multiple: 1.82×
• Total profit: $20,547
• Equity at exit: $13,270

10-year hold

• IRR: 28.5%
• Equity multiple: 3.52×
• Total profit: $62,874
• Equity at exit: $7,695

Cash invested: $24,920 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,396 high
• Mortgage (P&I): −$467
• Tax from tax record: −$50 /mo · $594/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $549

Break-even live

Break-even rent $700

Max offer price $89,000

Occupancy floor 56%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	43d	1	0.41mi
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	43d	1	0.44mi
1014 W Market St Apt 3 Lima, OH	2.0	1.0	800	$1,400	$1.75	43d	1	0.54mi
1436 W High St Lima, OH	2.0	1.0	1205	$895	$0.74	43d	1	0.66mi
545 W Market St Unit 340 1/2 Mcpheron Lima, OH	2.0	1.0	900	$800	$0.89	43d	1	0.80mi
330 W Ashton Ave Lima, OH	3.0	1.0	1288	$2,000	$1.55	43d	1	0.89mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$956	$0.87	43d	9	1.06mi
608 S Primrose Pl Lima, OH	3.0	2.0	1200	$2,500	$2.08	43d	1	1.46mi

Listing history 30 events

1. 2026-06-19
   days on market $89,000 Active 144 DOM
2. 2026-06-18
   days on market $89,000 Active 143 DOM
3. 2026-06-17
   days on market $89,000 Active 142 DOM
4. 2026-06-16
   days on market $89,000 Active 141 DOM
5. 2026-06-15
   days on market $89,000 Active 140 DOM
6. 2026-06-14
   days on market $89,000 Active 138 DOM
7. 2026-06-12
   days on market $89,000 Active 137 DOM
8. 2026-06-09
   days on market $89,000 Active 134 DOM
9. 2026-06-08
   days on market $89,000 Active 133 DOM
10. 2026-06-07
    days on market $89,000 Active 132 DOM
11. 2026-06-07
    days on market $89,000 Active 131 DOM
12. 2026-06-04
    days on market $89,000 Active 128 DOM
13. 2026-06-02
    days on market $89,000 Active 127 DOM
14. 2026-06-01
    days on market $89,000 Active 126 DOM
15. 2026-05-31
    days on market $89,000 Active 125 DOM
16. 2026-05-31
    days on market $89,000 Active 124 DOM
17. 2026-04-25
    price $89,000 1069-char remark

    Show marketing remark (1069 chars)

    Investors! TURNKEY, tenant occupied property! Ready to go! This 3 bedroom, one full bath home is ready for a new owner! Excellent tenant! $1100/month cash income plus tenant pays gas/electric. This home offers 1136 square feet with plenty of space! Main level offers a large kitchen with dinette area, dining room, living room and closet areas! Second level offers 2 nice sized bedrooms, a full bathroom and ample closet spaces! Basement offers a 3rd finished bedroom area! Updates include: Roof within 10 years, refinished hardwood floors on main level, LVP flooring in kitchen, 1st floor laundry moved from basement, fully updated electrical wiring and electrical panel, hot water tank, room in basement finished for additional bedroom space, some ductwork, interior paint, and hardwood floors on second level refinished! Furnace year unknown, works great, no issues. Nice lot, quiet street! Close to downtown Lima, restaurants, shopping, hospital, parks and more! Selling AS IS, no seller financing. Solid property, income and tenant! Hurry this will not last long!

18. 2026-03-03
    price $99,000 1069-char remark

    Show marketing remark (1069 chars)

    Investors! TURNKEY, tenant occupied property! Ready to go! This 3 bedroom, one full bath home is ready for a new owner! Excellent tenant! $1100/month cash income plus tenant pays gas/electric. This home offers 1136 square feet with plenty of space! Main level offers a large kitchen with dinette area, dining room, living room and closet areas! Second level offers 2 nice sized bedrooms, a full bathroom and ample closet spaces! Basement offers a 3rd finished bedroom area! Updates include: Roof within 10 years, refinished hardwood floors on main level, LVP flooring in kitchen, 1st floor laundry moved from basement, fully updated electrical wiring and electrical panel, hot water tank, room in basement finished for additional bedroom space, some ductwork, interior paint, and hardwood floors on second level refinished! Furnace year unknown, works great, no issues. Nice lot, quiet street! Close to downtown Lima, restaurants, shopping, hospital, parks and more! Selling AS IS, no seller financing. Solid property, income and tenant! Hurry this will not last long!

19. 2026-02-21
    price $119,500 1069-char remark

    Show marketing remark (1069 chars)

    Investors! TURNKEY, tenant occupied property! Ready to go! This 3 bedroom, one full bath home is ready for a new owner! Excellent tenant! $1100/month cash income plus tenant pays gas/electric. This home offers 1136 square feet with plenty of space! Main level offers a large kitchen with dinette area, dining room, living room and closet areas! Second level offers 2 nice sized bedrooms, a full bathroom and ample closet spaces! Basement offers a 3rd finished bedroom area! Updates include: Roof within 10 years, refinished hardwood floors on main level, LVP flooring in kitchen, 1st floor laundry moved from basement, fully updated electrical wiring and electrical panel, hot water tank, room in basement finished for additional bedroom space, some ductwork, interior paint, and hardwood floors on second level refinished! Furnace year unknown, works great, no issues. Nice lot, quiet street! Close to downtown Lima, restaurants, shopping, hospital, parks and more! Selling AS IS, no seller financing. Solid property, income and tenant! Hurry this will not last long!

20. 2026-01-26
    listed $122,500 Active 1069-char remark

    Show marketing remark (1069 chars)

    Investors! TURNKEY, tenant occupied property! Ready to go! This 3 bedroom, one full bath home is ready for a new owner! Excellent tenant! $1100/month cash income plus tenant pays gas/electric. This home offers 1136 square feet with plenty of space! Main level offers a large kitchen with dinette area, dining room, living room and closet areas! Second level offers 2 nice sized bedrooms, a full bathroom and ample closet spaces! Basement offers a 3rd finished bedroom area! Updates include: Roof within 10 years, refinished hardwood floors on main level, LVP flooring in kitchen, 1st floor laundry moved from basement, fully updated electrical wiring and electrical panel, hot water tank, room in basement finished for additional bedroom space, some ductwork, interior paint, and hardwood floors on second level refinished! Furnace year unknown, works great, no issues. Nice lot, quiet street! Close to downtown Lima, restaurants, shopping, hospital, parks and more! Selling AS IS, no seller financing. Solid property, income and tenant! Hurry this will not last long!

21. 2025-07-09
    price $70,750
22. 2025-05-20
    price $35,000
23. 2025-04-29
    listed $45,000 Active
24. 2023-11-01
    listed $65,000 Active
25. 2022-10-13
    soldstatus $802,900
26. 2004-08-02
    soldstatus $60,000
27. 2004-08-02
    soldstatus $60,000
28. 2002-03-29
    soldstatus $38,000
29. 2001-03-23
    soldstatus $36,000
30. 2000-12-22
    soldstatus $20,000

ⓘ 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: $594 · $50/mo
• Projected year-2 tax: $991 · $83/mo
• Expected delta: +$397/yr (+$33/mo · 66.9%)

ⓘ 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: $16,749
• − Mortgage interest: −$4,985
• − Property taxes: −$594
• − Insurance: −$445
• − Repairs & maintenance: −$1,340
• − Management: −$1,340
• − Depreciation: −$2,589
• Taxable income: $5,455
• Est. tax owed @ 24.0%: −$1,309
• After-tax cash flow: $5,282/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 · 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

+345.0% since first listed

14 events — show timeline

• 2026-04-25 Price Changed $89,000 MLSNOW
• 2026-03-03 Price Changed $99,000 MLSNOW
• 2026-02-21 Price Changed $119,500 MLSNOW
• 2026-01-26 Listed $122,500 MLSNOW
• 2025-07-09 Price Changed $70,750 MARMLS
• 2025-05-20 Price Changed $35,000 MARMLS
• 2025-04-29 Listed $45,000 MARMLS
• 2023-11-01 Listed $65,000 WCARE
• 2022-10-13 Sold (Public Records) $802,900 Public Records
• 2004-08-02 Sold (Public Records) $60,000 Public Records
• 2004-08-02 Sold (Public Records) $60,000 Public Records
• 2002-03-29 Sold (Public Records) $38,000 Public Records
• 2001-03-23 Sold (Public Records) $36,000 Public Records
• 2000-12-22 Sold (Public Records) $20,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $594 · +9.7% YoY. Source: county tax records.