618 Woodward Ave · Lima, OH 45805

$109,900

3 bd · 1.0 ba · 1,026 sqft · SingleFamily public records · 822 Days on market

Built 1914 3,010 sqft lot $107/sqft · 90% above area

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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

Welcome to your dream home, exquisitely remodeled to perfection! Embrace year-round comfort with a brand-new furnace and air conditioning system, ensuring the perfect indoor climate regardless of the weather. Enjoy uninterrupted hot water and enhanced energy efficiency with a top-of-the-line water heater. Your home is safeguarded by a durable, freshly replaced roof built to withstand the harshest elements. Abundant natural light floods every corner, thanks to newly installed, energy-efficient windows contributing to improved insulation. Carefully selected lighting fixtures create a warm, inviting ambiance throughout the home. Indulge in luxury with thoughtfully remodeled bathroom featuring stylish fixtures and modern amenities. The fully remodeled kitchen boasts custom cabinetry and elegant counter tops, inspiring culinary creativity. Experience the epitome of modern living in this exquisitely remodeled dream home.

Key facts

• 3,010 sq ft lot
• Built 1914
• Listed 821 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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.
• 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 $760 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 $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 822 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; list at $110k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 822 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 1914 — 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: 1.18% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.52%
• DSCR: 1.51
• GRM: 7.0

CMA / ARV

• ARV (median comp): $66,912
• List price: $109,900
• Delta: 64.25%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
809 Rice Ave	0.04mi	2/1.0 (-1)	936 (-9%)	1mo	$60,000	$64	78
765 Ewing Ave	0.37mi	3/1.0	1,006 (-2%)	4mo	$157,000	$156	76
806 Ewing Ave	0.39mi	3/1.0	992 (-3%)	1mo	$31,000	$31	75
1120 Melrose St	0.52mi	3/1.0	1,040 (+1%)	2mo	$165,000	$159	72
638 Hazel Ave	0.21mi	2/1.5 (-1)	960 (-6%)	1mo	$130,000	$135	71
753 Brice Ave	0.25mi	3/1.5	1,108 (+8%)	3mo	$85,000	$77	70
1245 Latham Ave	0.55mi	3/1.0	1,066 (+4%)	2mo	$145,000	$136	67
923 Burch Ave	0.65mi	2/1.0 (-1)	1,029 (+0%)	0mo	$142,000	$138	64
1407 Latham Ave	0.62mi	3/1.0	1,066 (+4%)	2mo	$130,000	$122	63
1027 Sherman Ave	0.66mi	3/1.0	1,052 (+2%)	4mo	$130,000	$124	62
914 W Murphy St	0.46mi	3/2.0	1,144 (+12%)	4mo	$112,000	$98	52
760 W O'connor Ave	0.75mi	3/1.5	920 (-10%)	2mo	$125,000	$136	44

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: 0.9%
• Equity multiple: 1.03×
• Total profit: $1,005
• Equity at exit: $16,386

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $25,108
• Equity at exit: $9,502

Cash invested: $30,772 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,300 high
• Mortgage (P&I): −$576
• Tax from tax record: −$110 /mo · $1,318/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $295

Break-even live

Break-even rent $927

Max offer price $109,900

Occupancy floor 72%

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: $27,475
• Closing costs: $3,297
• 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	44d	1	0.25mi
1014 W Market St Apt 3 Lima, OH	2.0	1.0	800	$1,400	$1.75	44d	1	0.54mi
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	44d	1	0.54mi
545 W Market St Unit 340 1/2 Mcpheron Lima, OH	2.0	1.0	900	$800	$0.89	44d	1	0.65mi
1436 W High St Lima, OH	2.0	1.0	1205	$895	$0.74	44d	1	0.75mi
330 W Ashton Ave Lima, OH	3.0	1.0	1288	$2,000	$1.55	44d	1	0.82mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$1,413	$1.28	44d	9	0.89mi
138 Harrison Ave Lima, OH	3.0	1.0	1152	$975	$0.85	44d	1	1.48mi

Listing history 26 events

1. 2026-06-18
   days on market $109,900 Active 822 DOM
2. 2026-06-17
   days on market $109,900 Active 821 DOM
3. 2026-06-16
   days on market $109,900 Active 820 DOM
4. 2026-06-15
   days on market $109,900 Active 819 DOM
5. 2026-06-14
   days on market $109,900 Active 817 DOM
6. 2026-06-12
   days on market $109,900 Active 816 DOM
7. 2026-06-09
   days on market $109,900 Active 813 DOM
8. 2026-06-08
   days on market $109,900 Active 812 DOM
9. 2026-06-07
   days on market $109,900 Active 811 DOM
10. 2026-06-07
    days on market $109,900 Active 810 DOM
11. 2026-06-04
    days on market $109,900 Active 807 DOM
12. 2026-06-02
    days on market $109,900 Active 806 DOM
13. 2026-06-01
    days on market $109,900 Active 805 DOM
14. 2026-05-31
    days on market $109,900 Active 804 DOM
15. 2026-05-31
    days on market $109,900 Active 803 DOM
16. 2026-04-17
    price $109,900 932-char remark

    Show marketing remark (932 chars)

    Welcome to your dream home, exquisitely remodeled to perfection! Embrace year-round comfort with a brand-new furnace and air conditioning system, ensuring the perfect indoor climate regardless of the weather. Enjoy uninterrupted hot water and enhanced energy efficiency with a top-of-the-line water heater. Your home is safeguarded by a durable, freshly replaced roof built to withstand the harshest elements. Abundant natural light floods every corner, thanks to newly installed, energy-efficient windows contributing to improved insulation. Carefully selected lighting fixtures create a warm, inviting ambiance throughout the home. Indulge in luxury with thoughtfully remodeled bathroom featuring stylish fixtures and modern amenities. The fully remodeled kitchen boasts custom cabinetry and elegant counter tops, inspiring culinary creativity. Experience the epitome of modern living in this exquisitely remodeled dream home.

17. 2025-12-23
    price $114,900 932-char remark

    Show marketing remark (932 chars)

    Welcome to your dream home, exquisitely remodeled to perfection! Embrace year-round comfort with a brand-new furnace and air conditioning system, ensuring the perfect indoor climate regardless of the weather. Enjoy uninterrupted hot water and enhanced energy efficiency with a top-of-the-line water heater. Your home is safeguarded by a durable, freshly replaced roof built to withstand the harshest elements. Abundant natural light floods every corner, thanks to newly installed, energy-efficient windows contributing to improved insulation. Carefully selected lighting fixtures create a warm, inviting ambiance throughout the home. Indulge in luxury with thoughtfully remodeled bathroom featuring stylish fixtures and modern amenities. The fully remodeled kitchen boasts custom cabinetry and elegant counter tops, inspiring culinary creativity. Experience the epitome of modern living in this exquisitely remodeled dream home.

18. 2025-02-14
    price $119,900 932-char remark

    Show marketing remark (932 chars)

    Welcome to your dream home, exquisitely remodeled to perfection! Embrace year-round comfort with a brand-new furnace and air conditioning system, ensuring the perfect indoor climate regardless of the weather. Enjoy uninterrupted hot water and enhanced energy efficiency with a top-of-the-line water heater. Your home is safeguarded by a durable, freshly replaced roof built to withstand the harshest elements. Abundant natural light floods every corner, thanks to newly installed, energy-efficient windows contributing to improved insulation. Carefully selected lighting fixtures create a warm, inviting ambiance throughout the home. Indulge in luxury with thoughtfully remodeled bathroom featuring stylish fixtures and modern amenities. The fully remodeled kitchen boasts custom cabinetry and elegant counter tops, inspiring culinary creativity. Experience the epitome of modern living in this exquisitely remodeled dream home.

19. 2024-11-13
    price $124,900 932-char remark

    Show marketing remark (932 chars)

    Welcome to your dream home, exquisitely remodeled to perfection! Embrace year-round comfort with a brand-new furnace and air conditioning system, ensuring the perfect indoor climate regardless of the weather. Enjoy uninterrupted hot water and enhanced energy efficiency with a top-of-the-line water heater. Your home is safeguarded by a durable, freshly replaced roof built to withstand the harshest elements. Abundant natural light floods every corner, thanks to newly installed, energy-efficient windows contributing to improved insulation. Carefully selected lighting fixtures create a warm, inviting ambiance throughout the home. Indulge in luxury with thoughtfully remodeled bathroom featuring stylish fixtures and modern amenities. The fully remodeled kitchen boasts custom cabinetry and elegant counter tops, inspiring culinary creativity. Experience the epitome of modern living in this exquisitely remodeled dream home.

20. 2024-10-08
    price $134,900 932-char remark

    Show marketing remark (932 chars)

    Welcome to your dream home, exquisitely remodeled to perfection! Embrace year-round comfort with a brand-new furnace and air conditioning system, ensuring the perfect indoor climate regardless of the weather. Enjoy uninterrupted hot water and enhanced energy efficiency with a top-of-the-line water heater. Your home is safeguarded by a durable, freshly replaced roof built to withstand the harshest elements. Abundant natural light floods every corner, thanks to newly installed, energy-efficient windows contributing to improved insulation. Carefully selected lighting fixtures create a warm, inviting ambiance throughout the home. Indulge in luxury with thoughtfully remodeled bathroom featuring stylish fixtures and modern amenities. The fully remodeled kitchen boasts custom cabinetry and elegant counter tops, inspiring culinary creativity. Experience the epitome of modern living in this exquisitely remodeled dream home.

21. 2024-03-18
    listed $139,900 Active 932-char remark

    Show marketing remark (932 chars)

    Welcome to your dream home, exquisitely remodeled to perfection! Embrace year-round comfort with a brand-new furnace and air conditioning system, ensuring the perfect indoor climate regardless of the weather. Enjoy uninterrupted hot water and enhanced energy efficiency with a top-of-the-line water heater. Your home is safeguarded by a durable, freshly replaced roof built to withstand the harshest elements. Abundant natural light floods every corner, thanks to newly installed, energy-efficient windows contributing to improved insulation. Carefully selected lighting fixtures create a warm, inviting ambiance throughout the home. Indulge in luxury with thoughtfully remodeled bathroom featuring stylish fixtures and modern amenities. The fully remodeled kitchen boasts custom cabinetry and elegant counter tops, inspiring culinary creativity. Experience the epitome of modern living in this exquisitely remodeled dream home.

22. 2022-11-17
    soldstatus $55,000
23. 2022-11-17
    soldstatus $55,000
24. 2005-09-02
    soldstatus $60,000
25. 2002-02-01
    soldstatus $9,000
26. 1991-03-11
    soldstatus $23,000

ⓘ 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: $1,318 · $110/mo
• Projected year-2 tax: $1,516 · $126/mo
• Expected delta: +$198/yr (+$17/mo · 15.0%)

ⓘ 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: $15,605
• − Mortgage interest: −$6,156
• − Property taxes: −$1,318
• − Insurance: −$550
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$3,197
• Taxable income: $1,887
• Est. tax owed @ 24.0%: −$453
• After-tax cash flow: $3,091/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

+377.8% since first listed

11 events — show timeline

• 2026-04-17 Price Changed $109,900 WCARE
• 2025-12-23 Price Changed $114,900 WCARE
• 2025-02-14 Price Changed $119,900 WCARE
• 2024-11-13 Price Changed $124,900 WCARE
• 2024-10-08 Price Changed $134,900 WCARE
• 2024-03-18 Listed $139,900 WCARE
• 2022-11-17 Sold (Public Records) $55,000 Public Records
• 2022-11-17 Sold (Public Records) $55,000 Public Records
• 2005-09-02 Sold (Public Records) $60,000 Public Records
• 2002-02-01 Sold (Public Records) $9,000 Public Records
• 1991-03-11 Sold (Public Records) $23,000 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,318 · +0.1% YoY. Source: county tax records.