922 N Jefferson St · Lima, OH 45801

$89,000

2 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 143 Days on market

Built 1920 3,833 sqft lot $64/sqft · 6% below area Est $95k · 6% under

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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 +30.0/30.0
• ARV discount +10.2/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• 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

Look at this turnkey investment property at 922 N Jefferson in Lima, Ohio! This 3 bedroom, one full bath home has 1400 square feet and ready for new owner! Cash tenant at $1100/month plus pays gas/electric! Updates include: Siding, carpet throughout the home, interior paint, ceilings redone, ceiling fans, LVP flooring in kitchen, hot water tank, full bathroom renovation with new LVP flooring/paint/vanity/tub/toilet. Furnace within 10 years- runs great! Roof unknown, no leaks. One car detached garage, nice lot, quiet street! Solid home! Contact co-list agent with questions. Ask us about the 6 other tenant occupied investments for sale plus 18 single family value add properties in the area! AS IS, no seller financing, Hurry- this will not last long!

Key facts

• 3,833 sq ft lot
• Garage
• Built 1920

Tags

• TURNKEY INVESTMENT PROPERTY
• UPDATES INCLUDE SIDING
• UPDATES INCLUDE CARPET
• UPDATES INCLUDE INTERIOR PAINT
• UPDATES INCLUDE CEILING FANS
• UPDATES INCLUDE LVP FLOORING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $471 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 7.7% in Lima — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

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; 5 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 $615 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 $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask has dropped $23k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $78,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 143 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 1920 — 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: 1.44% ✓
• Cap rate: 12.64%
• Cash-on-cash: 22.66%
• DSCR: 2.01
• GRM: 5.8

CMA / ARV

• ARV (median comp): $94,770
• List price: $89,000
• Delta: -6.09%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
222 W Grand Ave	0.50mi	2/1.0	1,440 (+3%)	7mo	$45,000	$31	66
606 N West St	0.60mi	3/1.0 (+1)	1,391 (-1%)	5mo	$82,400	$59	61
1200 N Main St	0.56mi	3/2.0 (+1)	1,352 (-3%)	0mo	$114,900	$85	59
136 E O'connor Ave	0.40mi	3/1.0 (+1)	1,248 (-11%)	1mo	$48,500	$39	58
622 N Jefferson St	0.38mi	3/2.0 (+1)	1,292 (-8%)	4mo	$115,000	$89	57
720 N West St	0.52mi	3/2.0 (+1)	1,496 (+7%)	0mo	$90,000	$60	55
711 Taylor Avenue Ave	0.62mi	3/2.0 (+1)	1,344 (-4%)	5mo	$41,000	$31	52
416 Hazel Ave	0.70mi	3/2.0 (+1)	1,494 (+7%)	1mo	$158,000	$106	46
1301 Adams St	0.47mi	3/1.0 (+1)	1,512 (+8%)	19mo	$50,000	$33	44
1024 Burch Ave	0.71mi	3/1.5 (+1)	1,272 (-9%)	9mo	$175,000	$138	37
4 Runyan Ct	0.65mi	3/2.0 (+1)	1,299 (-7%)	14mo	$80,500	$62	37
548 N Mcdonel St	0.70mi	3/1.0 (+1)	1,201 (-14%)	14mo	$135,000	$112	27

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: 15.5%
• Equity multiple: 1.62×
• Total profit: $15,527
• Equity at exit: $13,270

10-year hold

• IRR: 24.2%
• Equity multiple: 3.09×
• Total profit: $52,015
• Equity at exit: $7,695

Cash invested: $24,920 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,282 high
• Mortgage (P&I): −$467
• Tax from tax record: −$39 /mo · $464/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $471

Break-even live

Break-even rent $687

Max offer price $89,000

Occupancy floor 58%

Sensitivity live

Price	-10% $521	-5% $496	+0% $471	+5% $445	+10% $420
Rent	-10% $369	-5% $420	+0% $471	+5% $521	+10% $572
Rate	-1.0pp $515	-0.5pp $493	base $471	+0.5pp $448	+1.0pp $424

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
330 W Ashton Ave Lima, OH	3.0	1.0	1288	$2,000	$1.55	44d	1	0.58mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$956	$0.87	44d	9	0.95mi
138 Harrison Ave Lima, OH	3.0	1.0	1152	$975	$0.85	44d	1	1.05mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	44d	1	1.08mi
545 W Market St Unit 340 1/2 Mcpheron Lima, OH	2.0	1.0	900	$800	$0.89	44d	1	1.15mi

Listing history 34 events

1. 2026-06-19
   days on market $89,000 Active 143 DOM
2. 2026-06-18
   days on market $89,000 Active 142 DOM
3. 2026-06-17
   days on market $89,000 Active 141 DOM
4. 2026-06-16
   days on market $89,000 Active 140 DOM
5. 2026-06-15
   days on market $89,000 Active 139 DOM
6. 2026-06-14
   days on market $89,000 Active 137 DOM
7. 2026-06-12
   days on market $89,000 Active 136 DOM
8. 2026-06-09
   days on market $89,000 Active 133 DOM
9. 2026-06-08
   days on market $89,000 Active 132 DOM
10. 2026-06-07
    days on market $89,000 Active 131 DOM
11. 2026-06-07
    days on market $89,000 Active 130 DOM
12. 2026-06-04
    days on market $89,000 Active 127 DOM
13. 2026-06-02
    days on market $89,000 Active 126 DOM
14. 2026-06-01
    days on market $89,000 Active 125 DOM
15. 2026-05-31
    days on market $89,000 Active 124 DOM
16. 2026-05-31
    days on market $89,000 Active 123 DOM
17. 2026-04-25
    price $89,000 757-char remark

    Show marketing remark (757 chars)

    Look at this turnkey investment property at 922 N Jefferson in Lima, Ohio! This 3 bedroom, one full bath home has 1400 square feet and ready for new owner! Cash tenant at $1100/month plus pays gas/electric! Updates include: Siding, carpet throughout the home, interior paint, ceilings redone, ceiling fans, LVP flooring in kitchen, hot water tank, full bathroom renovation with new LVP flooring/paint/vanity/tub/toilet. Furnace within 10 years- runs great! Roof unknown, no leaks. One car detached garage, nice lot, quiet street! Solid home! Contact co-list agent with questions. Ask us about the 6 other tenant occupied investments for sale plus 18 single family value add properties in the area! AS IS, no seller financing, Hurry- this will not last long!

18. 2026-03-03
    price $99,000 757-char remark

    Show marketing remark (757 chars)

    Look at this turnkey investment property at 922 N Jefferson in Lima, Ohio! This 3 bedroom, one full bath home has 1400 square feet and ready for new owner! Cash tenant at $1100/month plus pays gas/electric! Updates include: Siding, carpet throughout the home, interior paint, ceilings redone, ceiling fans, LVP flooring in kitchen, hot water tank, full bathroom renovation with new LVP flooring/paint/vanity/tub/toilet. Furnace within 10 years- runs great! Roof unknown, no leaks. One car detached garage, nice lot, quiet street! Solid home! Contact co-list agent with questions. Ask us about the 6 other tenant occupied investments for sale plus 18 single family value add properties in the area! AS IS, no seller financing, Hurry- this will not last long!

19. 2026-02-21
    price $109,000 757-char remark

    Show marketing remark (757 chars)

    Look at this turnkey investment property at 922 N Jefferson in Lima, Ohio! This 3 bedroom, one full bath home has 1400 square feet and ready for new owner! Cash tenant at $1100/month plus pays gas/electric! Updates include: Siding, carpet throughout the home, interior paint, ceilings redone, ceiling fans, LVP flooring in kitchen, hot water tank, full bathroom renovation with new LVP flooring/paint/vanity/tub/toilet. Furnace within 10 years- runs great! Roof unknown, no leaks. One car detached garage, nice lot, quiet street! Solid home! Contact co-list agent with questions. Ask us about the 6 other tenant occupied investments for sale plus 18 single family value add properties in the area! AS IS, no seller financing, Hurry- this will not last long!

20. 2026-01-27
    listed $112,000 Active 757-char remark

    Show marketing remark (757 chars)

    Look at this turnkey investment property at 922 N Jefferson in Lima, Ohio! This 3 bedroom, one full bath home has 1400 square feet and ready for new owner! Cash tenant at $1100/month plus pays gas/electric! Updates include: Siding, carpet throughout the home, interior paint, ceilings redone, ceiling fans, LVP flooring in kitchen, hot water tank, full bathroom renovation with new LVP flooring/paint/vanity/tub/toilet. Furnace within 10 years- runs great! Roof unknown, no leaks. One car detached garage, nice lot, quiet street! Solid home! Contact co-list agent with questions. Ask us about the 6 other tenant occupied investments for sale plus 18 single family value add properties in the area! AS IS, no seller financing, Hurry- this will not last long!

21. 2025-07-09
    price $70,750
22. 2025-06-07
    historical $1,150
23. 2025-06-02
    price $1,150
24. 2025-05-21
    price $35,000
25. 2025-04-29
    listed $45,000 Active
26. 2025-04-17
    price $1,100
27. 2025-04-15
    listed $1,000
28. 2024-08-15
    historical $1,000
29. 2024-07-30
    listed $1,000
30. 2022-03-29
    soldstatus $196,000
31. 2022-03-22
    soldstatus $22,136
32. 2021-06-23
    listed $44,900
33. 2000-11-17
    soldstatus $12,300
34. 1995-12-07
    soldstatus $22,500

ⓘ 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: $464 · $39/mo
• Projected year-2 tax: $926 · $77/mo
• Expected delta: +$462/yr (+$39/mo · 99.6%)

ⓘ 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: $15,389
• − Mortgage interest: −$4,985
• − Property taxes: −$464
• − Insurance: −$445
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$2,589
• Taxable income: $4,443
• Est. tax owed @ 24.0%: −$1,066
• After-tax cash flow: $4,581/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

+295.6% since first listed

18 events — show timeline

• 2026-04-25 Price Changed $89,000 MLSNOW
• 2026-03-03 Price Changed $99,000 MLSNOW
• 2026-02-21 Price Changed $109,000 MLSNOW
• 2026-01-27 Listed $112,000 MLSNOW
• 2025-07-09 Price Changed $70,750 MARMLS
• 2025-06-07 Rental Removed $1,150 APPFOLIO
• 2025-06-02 Price Changed $1,150 APPFOLIO
• 2025-05-21 Price Changed $35,000 MARMLS
• 2025-04-29 Listed $45,000 MARMLS
• 2025-04-17 Price Changed $1,100 APPFOLIO
• 2025-04-15 Listed for Rent $1,000 APPFOLIO
• 2024-08-15 Rental Removed $1,000 APPFOLIO
• 2024-07-30 Listed for Rent $1,000 APPFOLIO
• 2022-03-29 Sold (Public Records) $196,000 Public Records
• 2022-03-22 Sold (MLS) $22,136 WCARE
• 2021-06-23 Listed $44,900 WCARE
• 2000-11-17 Sold (Public Records) $12,300 Public Records
• 1995-12-07 Sold (Public Records) $22,500 Public Records

Property tax history

-1.6%/yr

Latest (2025): $464 · +0.4% YoY. Source: county tax records.