1800 Reservoir Rd Lot 625 · Lima, OH 45804

$49,900

3 bd · 2.0 ba · 980 sqft · Manufactured · 1 Days on market

Built 2018 Average condition $522/mo HOA · 42% of rent

---

Why this score? — see what drove the C+ 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 +24.7/30.0
• 1% rule +10.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Schools +6.1/10.0
• Livability +3.2/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this Open concept mobile home with a split bedroom style. The owners suite has a nice size bathroom with a walkin shower off of it. The open living and kitchen give it a spacious feel . Lot rent is $522 and it includes water and trash. Owner mows their own lawn Land is not owned.

Key facts

• Open concept
• Walkin shower
• Nice size bathroom

Tags

• OPEN CONCEPT
• SPLIT BEDROOM STYLE
• NICE SIZE BATHROOM
• WALKIN SHOWER
• SPACIOUS FEEL

Property features AI

Finance

• Other: Directions: Off Reservoir Rd take Estate Rd to Date Rd; property sits on the corner.
• Financial info: Not specified
• HOA & community: Homeowners association with $522 monthly fee; Association fee includes trash

Exterior

• Parking: Other parking
• Security: Not specified
• Utilities: Public water; Public sewer
• Home design: Mobile home; Residential property; Updated/remodeled condition
• Construction: Vinyl siding
• Exterior features: Corner lot; Residential zoning

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Not specified
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Natural gas heating
• Interior features: Updated/remodeled interior; 6 total rooms
• Laundry & utility: Not specified

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $50k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).

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.
• Bath Local (suburban): math 71% / reading 74% proficiency, ranked #129 of 656 in OH (top 20%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 79 active listings in the ZIP; lower-income renter base — watch delinquency; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% of the median local income ($43k/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 $345 of loan paydown is wiped out by about $1k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.

Recommended offer $49,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 2.46% ✓
• Cap rate: 8.80%
• Cash-on-cash: 8.96%
• DSCR: 1.40
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $26,460
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1800 Reservoir Rd #157	0.17mi	2/1.0 (-1)	980 (0%)	16mo	$26,500	$27	70
1800 Reservoir Rd Unit 529 Chestnut	0.17mi	3/2.0	1,064 (+9%)	21mo	$27,000	$25	60
109 N Roberts Ave	0.35mi	3/2.0	1,040 (+6%)	22mo	$131,000	$126	55

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: -2.1%
• Equity multiple: 0.92×
• Total profit: $-1,099
• Equity at exit: $7,440

10-year hold

• IRR: 8.2%
• Equity multiple: 1.64×
• Total profit: $8,981
• Equity at exit: $4,314

Cash invested: $13,972 (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 45804

• Active inventory: 79
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,229 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$522
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $104

Break-even live

Break-even rent $1,097

Max offer price $49,900

Occupancy floor 87%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $522 · $6,264/yr
• Likely covers: watertrash

Listing history 2 events

1. 2026-06-18
   remarks 293-char remark
2. 2026-06-18
   listed $49,900 Active 1 DOM

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $14,753
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − HOA: −$6,264
• − Depreciation: −$1,452
• Taxable income: $883
• Est. tax owed @ 24.0%: −$212
• After-tax cash flow: $1,040/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 · 12 photos

Average 55/100 Cosmetic rehab

This mobile home has average condition with some minor repairs and maintenance needed. Updates to paint, flooring, kitchen, and bathrooms would significantly enhance its value.

Repairs flagged

• Minor Paint — Some scuff marks on walls
• Minor Flooring — Some scuff marks on flooring
• Minor Kitchen — Some clutter
• Minor Bathrooms — Some clutter

Value-add opportunities

• Both Paint — Enhances curb appeal and interior aesthetics
• Both Flooring — Improves durability and appearance
• Both Kitchen — Updates appliances and counters
• Both Bathrooms — Updates fixtures and counters

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Some scuff marks on walls	Minor	$500–3,000
Flooring · Some scuff marks on flooring	Minor	$500–3,000
Kitchen · Some clutter	Minor	$500–3,000
Bathrooms · Some clutter	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Both Paint — Enhances curb appeal and interior aesthetics ↑
• Both Flooring — Improves durability and appearance ↑
• Both Kitchen — Updates appliances and counters ↑
• Both Bathrooms — Updates fixtures and counters ↑

ⓘ 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: Bath Local
• NCES district ID: 3904576
• Math proficiency: 71% ▼ -7.00%
• Reading proficiency: 74% ▼ -3.00%
• Median HH income: $49,204
• Composite: 61.36/100
• National rank: #770
• State rank: #129 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): 14,197
• Household income: $42,594
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 8.1

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 19% Two or more races 8% Hispanic / Latino 2%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% 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: ▼ -124.39%
• Current HPI: 126.4189
• 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

• 2026-06-18 Listed $49,900 WCARE