1755 Shawnee Rd · Lima, OH 45805

$159,900

2 bd · 2.0 ba · 1,330 sqft · Condo public records · 37 Days on market

Built 1966

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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 +27.4/30.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• Schools +6.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

EASY LIVING across from Shawnee Country Club. Enjoy QUIET corner location on 5th floor w/ beautiful views from balcony & windows. Laundry just a few feet away with reserved times for PRIVACY. LOTS OF UPDATES: freshly painted, modern guest bathroom, luxury vinyl floors (2023), new refrigerator & dishwasher (2020-21), kitchen hood (2017), all new windows, shutters & shades (2016-17), kitchen sink & faucet (2016). The master closet has been rennovated between the master bedroom and its updated bathroom like no other in the Carlton House. Like all corner units, this condo has a square kitchen and an extra window near the dining area, giving the unit a more open feel with extra light and another nature view. CONDO FEE $434 covers security, insurance, maintenance of common meeting/event areas, snow removal, lawn care, water, sewer, refuse, laundry, ice, a small library, workout room and basement storage. Heated well-lit garage, additional parking in back. Schedule a showing with your favorite realtor today!

Key facts

• Quartz countertops
• Laundry room
• Workout area

Tags

• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• NEW FLOORING
• LAUNDRY ROOM
• HEATED PARKING GARAGE
• WORKOUT AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 7.7% in Lima — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Shawnee Local (suburban): math 71% / reading 77% proficiency, ranked #100 of 656 in OH (top 15%) — strong family-tenant draw, lease renewals of 3-5y typical.
• Market conditions: 105 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• At $2,500/mo this rent would consume 45% of the median local household income ($66k/yr) — very limited rent-growth headroom before tenants either downsize or default.

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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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 $118k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.56% ✓
• Cap rate: 9.79%
• Cash-on-cash: 12.48%
• DSCR: 1.56
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.3%
• Equity multiple: 1.09×
• Total profit: $4,027
• Equity at exit: $23,842

10-year hold

• IRR: 12.1%
• Equity multiple: 1.96×
• Total profit: $42,851
• Equity at exit: $13,825

Cash invested: $44,772 (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: $2,500 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$127 /mo · $1,527/yr
• Insurance: −$67
• HOA est. from 3 same-building comps: −$477
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $466

Break-even live

Break-even rent $1,911

Max offer price $159,900

Occupancy floor 76%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 S Primrose Pl Lima, OH	3.0	2.0	1200	$2,500	$2.08	44d	1	1.39mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watersewertrashlandscapingsnow removalsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-18
   days on market $159,900 Active 37 DOM
2. 2026-06-17
   days on market $159,900 Active 36 DOM
3. 2026-06-16
   days on market $159,900 Active 35 DOM
4. 2026-06-15
   days on market $159,900 Active 34 DOM
5. 2026-06-13
   days on market $159,900 Active 32 DOM
6. 2026-06-12
   days on market $159,900 Active 31 DOM
7. 2026-06-09
   days on market $159,900 Active 28 DOM
8. 2026-06-08
   days on market $159,900 Active 27 DOM
9. 2026-06-08
   days on market $159,900 Active 26 DOM
10. 2026-06-07
    days on market $159,900 Active 25 DOM
11. 2026-06-04
    days on market $159,900 Active 22 DOM
12. 2026-06-02
    days on market $159,900 Active 21 DOM
13. 2026-06-01
    days on market $159,900 Active 20 DOM
14. 2026-05-31
    days on market $159,900 Active 19 DOM
15. 2026-05-12
    listed $159,900 Active 584-char remark
16. 2024-02-15
    soldstatus $118,000 Closed 1041-char remark

    Show marketing remark (1041 chars)

    EASY LIVING across from Shawnee Country Club. Enjoy QUIET corner location on 5th floor w/ beautiful views from balcony & windows. Laundry just a few feet away with reserved times for PRIVACY. LOTS OF UPDATES: freshly painted, modern guest bathroom, luxury vinyl floors (2023), new refrigerator & dishwasher (2020-21), kitchen hood (2017), all new windows, shutters & shades (2016-17), kitchen sink & faucet (2016). The master closet has been rennovated between the master bedroom and its updated bathroom like no other in the Carlton House. Like all corner units, this condo has a square kitchen and an extra window near the dining area, giving the unit a more open feel with extra light and another nature view. CONDO FEE $434 covers security, insurance, maintenance of common meeting/event areas, snow removal, lawn care, water, sewer, refuse, laundry, ice, a small library, workout room and basement storage. Heated well-lit garage, additional parking in back. Schedule a showing with your favorite realtor today!

17. 2024-02-15
    soldstatus $118,000

    Show marketing remark (1041 chars)

    EASY LIVING across from Shawnee Country Club. Enjoy QUIET corner location on 5th floor w/ beautiful views from balcony & windows. Laundry just a few feet away with reserved times for PRIVACY. LOTS OF UPDATES: freshly painted, modern guest bathroom, luxury vinyl floors (2023), new refrigerator & dishwasher (2020-21), kitchen hood (2017), all new windows, shutters & shades (2016-17), kitchen sink & faucet (2016). The master closet has been rennovated between the master bedroom and its updated bathroom like no other in the Carlton House. Like all corner units, this condo has a square kitchen and an extra window near the dining area, giving the unit a more open feel with extra light and another nature view. CONDO FEE $434 covers security, insurance, maintenance of common meeting/event areas, snow removal, lawn care, water, sewer, refuse, laundry, ice, a small library, workout room and basement storage. Heated well-lit garage, additional parking in back. Schedule a showing with your favorite realtor today!

18. 2024-01-26
    status Pending 1041-char remark

    Show marketing remark (1041 chars)

    EASY LIVING across from Shawnee Country Club. Enjoy QUIET corner location on 5th floor w/ beautiful views from balcony & windows. Laundry just a few feet away with reserved times for PRIVACY. LOTS OF UPDATES: freshly painted, modern guest bathroom, luxury vinyl floors (2023), new refrigerator & dishwasher (2020-21), kitchen hood (2017), all new windows, shutters & shades (2016-17), kitchen sink & faucet (2016). The master closet has been rennovated between the master bedroom and its updated bathroom like no other in the Carlton House. Like all corner units, this condo has a square kitchen and an extra window near the dining area, giving the unit a more open feel with extra light and another nature view. CONDO FEE $434 covers security, insurance, maintenance of common meeting/event areas, snow removal, lawn care, water, sewer, refuse, laundry, ice, a small library, workout room and basement storage. Heated well-lit garage, additional parking in back. Schedule a showing with your favorite realtor today!

19. 2023-12-09
    price $125,000 1041-char remark

    Show marketing remark (1041 chars)

    EASY LIVING across from Shawnee Country Club. Enjoy QUIET corner location on 5th floor w/ beautiful views from balcony & windows. Laundry just a few feet away with reserved times for PRIVACY. LOTS OF UPDATES: freshly painted, modern guest bathroom, luxury vinyl floors (2023), new refrigerator & dishwasher (2020-21), kitchen hood (2017), all new windows, shutters & shades (2016-17), kitchen sink & faucet (2016). The master closet has been rennovated between the master bedroom and its updated bathroom like no other in the Carlton House. Like all corner units, this condo has a square kitchen and an extra window near the dining area, giving the unit a more open feel with extra light and another nature view. CONDO FEE $434 covers security, insurance, maintenance of common meeting/event areas, snow removal, lawn care, water, sewer, refuse, laundry, ice, a small library, workout room and basement storage. Heated well-lit garage, additional parking in back. Schedule a showing with your favorite realtor today!

20. 2023-11-03
    listed $130,000 Active 1041-char remark

    Show marketing remark (1041 chars)

    EASY LIVING across from Shawnee Country Club. Enjoy QUIET corner location on 5th floor w/ beautiful views from balcony & windows. Laundry just a few feet away with reserved times for PRIVACY. LOTS OF UPDATES: freshly painted, modern guest bathroom, luxury vinyl floors (2023), new refrigerator & dishwasher (2020-21), kitchen hood (2017), all new windows, shutters & shades (2016-17), kitchen sink & faucet (2016). The master closet has been rennovated between the master bedroom and its updated bathroom like no other in the Carlton House. Like all corner units, this condo has a square kitchen and an extra window near the dining area, giving the unit a more open feel with extra light and another nature view. CONDO FEE $434 covers security, insurance, maintenance of common meeting/event areas, snow removal, lawn care, water, sewer, refuse, laundry, ice, a small library, workout room and basement storage. Heated well-lit garage, additional parking in back. Schedule a showing with your favorite realtor today!

21. 2020-03-17
    soldstatus $73,000

    Show marketing remark (197 chars)

    Amazing View! Carlton House condo, located directly across the street from Shawnee Country Club in Shawnee Township. Corner Unit with a large living area. Call about this move in ready condo today!

22. 2020-01-16
    listed $85,000

    Show marketing remark (197 chars)

    Amazing View! Carlton House condo, located directly across the street from Shawnee Country Club in Shawnee Township. Corner Unit with a large living area. Call about this move in ready condo today!

23. 2016-07-12
    soldstatus $65,000
24. 2012-08-31
    soldstatus $36,500
25. 2012-07-22
    listed $37,000
26. 2006-11-29
    soldstatus $84,000
27. 2004-11-30
    soldstatus $87,000

ⓘ 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: $1,527 · $127/mo
• Projected year-2 tax: $2,011 · $168/mo
• Expected delta: +$484/yr (+$40/mo · 31.7%)

ⓘ 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: $30,000
• − Mortgage interest: −$8,957
• − Property taxes: −$1,527
• − Insurance: −$800
• − Repairs & maintenance: −$2,400
• − Management: −$2,400
• − HOA: −$5,724
• − Depreciation: −$4,652
• Taxable income: $3,541
• Est. tax owed @ 24.0%: −$850
• After-tax cash flow: $4,737/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: Shawnee Local
• NCES district ID: 3904579
• Math proficiency: 71% ▼ -9.00%
• Reading proficiency: 77% ▼ -4.00%
• Median HH income: $61,634
• Composite: 63.78/100
• National rank: #597
• State rank: #100 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): 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

+83.8% since first listed

13 events — show timeline

• 2026-05-12 Listed $159,900 FSBO.com
• 2024-02-15 Sold (Public Records) $118,000 Public Records
• 2024-02-15 Sold (MLS) $118,000 WCARE
• 2024-01-26 Pending — WCARE
• 2023-12-09 Price Changed $125,000 WCARE
• 2023-11-03 Listed $130,000 WCARE
• 2020-03-17 Sold (MLS) $73,000 WCARE
• 2020-01-16 Listed $85,000 WCARE
• 2016-07-12 Sold (Public Records) $65,000 Public Records
• 2012-08-31 Sold (MLS) $36,500 WRIST
• 2012-07-22 Listed $37,000 WRIST
• 2006-11-29 Sold (Public Records) $84,000 Public Records
• 2004-11-30 Sold (Public Records) $87,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,527 · +2.3% YoY. Source: county tax records.