813 College Ave · Lima, OH 45805

$180,000

3 bd · 1.0 ba · 1,560 sqft · SingleFamily public records · 14 Days on market

Built 1920 8,233 sqft lot Est $178k · at est.

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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 +17.6/30.0
• ARV discount +7.0/15.0
• DSCR +5.5/10.0
• 1% rule +3.8/10.0
• 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

Wonderfully maintained family home with great backyard living space. Great warmth and homey feel. Cute kitchen, with dinette, close to school. Don't miss it!

Key facts

• 8,233 sq ft lot
• 2 garage spots
• Built 1920

Property features AI

Exterior

• Parking: Detached garage; Driveway; Total parking for 4 vehicles; 2-car garage
• Utilities: Electricity connected; Natural gas connected; Public water; Public sewer
• Home design: Single-family residence (house); Two stories; No shared/common walls; Living area reported from public records
• Construction: Brick and vinyl siding exterior; Block foundation; Year built from public records
• Exterior features: Front porch; Deck; Shingle roof; City street frontage with asphalt road

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator; Garden window
• Bedrooms: Primary/other bedroom on main level; Three bedrooms located on the upper level
• Flooring: Carpet; Luxury vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Double vanity; Eat-in kitchen; Ceiling fans throughout; Gas fireplace
• Laundry & utility: Main-level laundry with electric dryer hookup; Unfinished basement for additional storage/utility space

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (12.3% below list).
• Recommended offer: $158k (12.3% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Heritage Elementary School (math 42% / reading 32%, grade F, #1,087 of 1,584 statewide, top 70%, 421 students, 0% FRL); Lima West Middle School (math 22% / reading 24%, grade F, #600 of 654 statewide, top 92%, 352 students, 0% FRL); Lima Senior High School (math 16% / reading 42%, grade F, #627 of 781 statewide, top 81%, 1,013 students, 0% FRL) — zoned schools average 0% FRL vs 83% district-wide (83 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 106 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $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.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $80k; list at $180k implies a 124% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $157,912 (12.3% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.35%
• DSCR: 1.15
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $177,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1206 Rice Ave	0.12mi	3/1.0	1,643 (+5%)	4mo	$144,000	$88	82
974 Richie Ave	0.31mi	3/1.5	1,464 (-6%)	2mo	$175,000	$120	71
956 Rice Ave	0.24mi	4/1.5 (+1)	1,463 (-6%)	1mo	$107,500	$73	70
1150 Brice Ave	0.24mi	4/2.0 (+1)	1,468 (-6%)	1mo	$114,900	$78	69
1600 Leland Ave	0.47mi	3/2.0	1,684 (+8%)	1mo	$190,900	$113	60
824 Rice Ave	0.36mi	4/2.0 (+1)	1,667 (+7%)	4mo	$28,000	$17	60
931 Richie Ave	0.39mi	3/1.0	1,398 (-10%)	8mo	$118,000	$84	57
1721 Rice Ave	0.71mi	3/1.0	1,440 (-8%)	1mo	$174,500	$121	53
1004 Sherman Ave	0.53mi	3/2.0	1,408 (-10%)	4mo	$195,200	$139	51
1521 Oakland Pkwy	0.56mi	3/1.5	1,694 (+9%)	8mo	$225,900	$133	51
837 Runyan Ave	0.64mi	4/2.0 (+1)	1,494 (-4%)	9mo	$172,000	$115	47
765 W O'connor Ave	0.73mi	3/2.0	1,401 (-10%)	7mo	$160,000	$114	39

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: -11.1%
• Equity multiple: 0.60×
• Total profit: $-20,275
• Equity at exit: $26,839

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-6,372
• Equity at exit: $15,563

Cash invested: $50,400 (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: 106
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,579 high
• Mortgage (P&I): −$944
• Tax from tax record: −$88 /mo · $1,056/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $141

Break-even live

Break-even rent $1,401

Max offer price $180,000

Occupancy floor 86%

Sensitivity live

Price	-10% $242	-5% $192	+0% $141	+5% $90	+10% $39
Rent	-10% $16	-5% $78	+0% $141	+5% $203	+10% $265
Rate	-1.0pp $231	-0.5pp $186	base $141	+0.5pp $94	+1.0pp $46

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	45d	1	0.36mi
1436 W High St Lima, OH	2.0	1.0	1205	$895	$0.74	45d	1	0.58mi
555 Haller St Lima, OH	3.0	2.0	1953	$1,700	$0.87	45d	1	0.60mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	45d	1	0.63mi
228 Nye St Lima, OH	4.0	2.0	1686	$675	$0.40	45d	1	0.99mi
330 W Ashton Ave Lima, OH	3.0	1.0	1288	$2,000	$1.55	45d	1	1.03mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$1,413	$1.28	45d	9	1.28mi
608 S Primrose Pl Lima, OH	3.0	2.0	1200	$2,500	$2.08	45d	1	1.37mi

Listing history 17 events

1. 2026-06-19
   days on market $180,000 Active 14 DOM
2. 2026-06-18
   days on market $180,000 Active 13 DOM
3. 2026-06-17
   days on market $180,000 Active 12 DOM
4. 2026-06-16
   days on market $180,000 Active 11 DOM
5. 2026-06-15
   days on market $180,000 Active 10 DOM
6. 2026-06-14
   days on market $180,000 Active 8 DOM
7. 2026-06-12
   days on market $180,000 Active 7 DOM
8. 2026-06-09
   days on market $180,000 Active 4 DOM
9. 2026-06-08
   days on market $180,000 Active 3 DOM
10. 2026-06-07
    days on market $180,000 Active 2 DOM
11. 2026-06-07
    statusdays on market $180,000 Active 1 DOM
12. 2026-06-04
    days on market $180,000 Coming Soon 4 DOM
13. 2026-06-02
    days on market $180,000 Coming Soon 3 DOM
14. 2026-06-01
    remarks 699-char remark
15. 2026-06-01
    days on market $180,000 Coming Soon 2 DOM
16. 2026-05-31
    remarks 356-char remark
17. 2026-05-31
    listed $180,000 Coming Soon 1 DOM

ⓘ 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: $1,056 · $88/mo
• Projected year-2 tax: $1,932 · $161/mo
• Expected delta: +$876/yr (+$73/mo · 83.0%)

ⓘ 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: $18,949
• − Mortgage interest: −$10,083
• − Property taxes: −$1,056
• − Insurance: −$900
• − Repairs & maintenance: −$1,516
• − Management: −$1,516
• − Depreciation: −$5,236
• Taxable loss: −$1,358
• Est. tax savings @ 24.0%: +$326
• After-tax cash flow: $2,013/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

+150.0% since first listed

5 events — show timeline

• 2026-05-30 Coming Soon $180,000 NORIS
• 2025-12-15 Sold (Public Records) $80,300 Public Records
• 2019-04-26 Sold (Public Records) $72,000 Public Records
• 2019-04-26 Sold (MLS) $72,000 WCARE
• 2018-09-19 Listed $72,000 WCARE

Property tax history

+4.8%/yr

Latest (2025): $1,056 · +0.1% YoY. Source: county tax records.