730 N Main St · Lima, OH 45801

$225,000

1 bd · 1.0 ba · 654 sqft · MultiFamily public records · 9 Days on market

Built 1905

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Why this score? — see what drove the D- 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 +12.0/30.0
• ARV discount +7.5/15.0
• DSCR +3.5/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Property sits on . 23 acres. Property includes 1 single dwelling home and 1 two unit Duplex. 3 units in total. 730 N. Main St. has been totally remodeled within last 5 years. All new Electrical & panel, plumbing, water lines, water heater, furnace and duct work, windows and siding currently rents for $650.00 mo. 732 N. Main St. 2 bedrooms all new windows, electrical & panel, flooring, paint and vanity. Unit is vacant but rents for $850.00 mo. 732 1/2 N. Main 1 bedroom new flooring, paint, vanity, front door, electrical & panel. Unit is vacant but will rent for $675.00 mo.

Key facts

• New furnace
• New plumbing
• Totally remodeled

Tags

• TOTALLY REMODELED
• NEW ELECTRICAL
• NEW PLUMBING
• NEW WATER LINES
• NEW WATER HEATER
• NEW FURNACE

Property features AI

Finance

• Other: Listed by CCR Realtors

Exterior

• Parking: Off-street parking
• Utilities: Public water; Private sewer
• Home design: Multi-family residential income property
• Construction: Other foundation type
• Exterior features: Off-street parking; Zoned for multi-family use

Interior

• Bathrooms: Four full bathrooms
• Heating & cooling: Electric heating; Natural gas heating; Window-unit cooling
• Interior features: Window cooling units

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/?-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $-56 ($-666/yr) — negative. Per door: $-28/mo.
• To cash-flow at today's rent, offer at most $215k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (26.0% below list).
• Recommended offer: $166k (26.0% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 7.7% in Lima — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 1 comparable units currently listed for rent nearby; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% 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 $2k of loan paydown is wiped out by about $7k 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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $1k; list at $225k implies a 22400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $166,500 (26.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.74% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.06%
• DSCR: 0.95
• GRM: 11.3

CMA / ARV

• ARV (median comp): $66,854
• List price: $225,000
• Delta: 236.56%
• Verdict: OVERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -18.1%
• Equity multiple: 0.36×
• Total profit: $-40,085
• Equity at exit: $33,548

10-year hold

• IRR: -10.4%
• Equity multiple: 0.37×
• Total profit: $-39,817
• Equity at exit: $19,454

Cash invested: $63,000 (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: 22.5×

Monthly cashflow live

• Estimated rent: $1,665 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$97 /mo · $1,167/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $-56

Break-even live

Break-even rent $1,735

Max offer price $215,190

Occupancy floor 98%

Sensitivity live

Price	-10% $72	-5% $8	+0% $-56	+5% $-119	+10% $-183
Rent	-10% $-187	-5% $-121	+0% $-56	+5% $10	+10% $76
Rate	-1.0pp $58	-0.5pp $2	base $-56	+0.5pp $-114	+1.0pp $-173

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	—	$1,664
Total (2 units)			$1,665

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
140 S Jameson Ave Unit 102ONE Lima, OH	1.0	1.0	500	$900	$1.80	44d	1	1.23mi

Listing history 2 events

1. 2026-05-12
   listed $225,000 Active 595-char remark
2. 2022-12-06
   soldstatus $1,000

ⓘ 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: $1,167 · $97/mo
• Projected year-2 tax: $2,338 · $195/mo
• Expected delta: +$1,172/yr (+$98/mo · 100.4%)

ⓘ 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: $19,980
• − Mortgage interest: −$12,603
• − Property taxes: −$1,167
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$6,545
• Taxable loss: −$4,657
• Est. tax savings @ 24.0%: +$1,118
• After-tax cash flow: $451/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

+22400.0% since first listed

3 events — show timeline

• 2026-05-21 Pending — WCARE
• 2026-05-12 Listed $225,000 WCARE
• 2022-12-06 Sold (Public Records) $1,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,167 · +0.1% YoY. Source: county tax records.