39 Lakeside Dr · Lima, OH 45804

$59,900

2 bd · 2.0 ba · 980 sqft · Manufactured · 15 Days on market

Built 1989 Good condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 39 Lakeside Dr. This home has been totally renovated. 2 bedroom & 2 full bathrooms. This home offers a replacement roof, new skirting, New furnace & water heater, front screen door, interior paint, new flooring, kitchen cabinets, countertops, sink & faucet. New SS microwave & refrigerator. The primary bathroom has new vanity, toilet, faucet, exhaust fans, all new light fixtures. The Hallway bathroom was totally gutted with new walk-in shower, vanity, faucet, toilet, exhaust fan, & lights. Th 3 season room offers new indoor/outdoor carpet and blinds and a private and shaded setting. The gazebo has a new cedar shingled roof. This home also offers an ext

Key facts

• New furnace
• Front screen door
• Water heater

Tags

• REPLACEMENT ROOF
• NEW SKIRTING
• NEW FURNACE
• WATER HEATER
• FRONT SCREEN DOOR
• INTERIOR PAINT

Property features AI

Finance

• Financial info: Annual tax amount listed

Exterior

• Parking: Carport
• Utilities: Public water; Public sewer; Electricity connected; Natural gas connected; Water connected
• Home design: Manufactured home (residential); One level
• Construction: Vinyl siding; Other type of foundation
• Exterior features: Covered patio/porch; Screened patio/porch; Glass-enclosed porch; Shed(s) on the property

Interior

• Kitchen: Kitchen equipped with microwave, oven, range and refrigerator
• Bedrooms: 5 total rooms (bedroom count not specified)
• Flooring: Carpet; Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Updated/remodeled interior; Microwave; Oven; Range; Refrigerator; Water heater
• Laundry & utility: Washer/dryer not specified

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $363 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.9% 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.
• Perry Local (rural): math 42% / reading 57% proficiency, ranked #460 of 656 in OH (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 79 active listings in the ZIP; lower-income renter base — watch delinquency; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($43k/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 $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $60k implies a 649% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $59,001 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
5. 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.
6. 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: 1.78% ✓
• Cap rate: 14.89%
• Cash-on-cash: 30.71%
• DSCR: 2.37
• GRM: 4.7

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: 19.7%
• Equity multiple: 1.80×
• Total profit: $13,456
• Equity at exit: $8,931

10-year hold

• IRR: 28.0%
• Equity multiple: 3.49×
• Total profit: $41,701
• Equity at exit: $5,179

Cash invested: $16,772 (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 45804

• Active inventory: 79
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,067 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $363

Break-even live

Break-even rent $608

Max offer price $59,900

Occupancy floor 61%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-07
   statusdays on market $59,900 Pending 15 DOM
2. 2026-06-02
   days on market $59,900 Active 14 DOM
3. 2026-06-01
   days on market $59,900 Active 13 DOM
4. 2026-05-31
   days on market $59,900 Active 12 DOM
5. 2026-05-30
   days on market $59,900 Active 11 DOM
6. 2026-05-19
   listed $59,900 Active
7. 2025-09-02
   soldstatus $8,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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: $12,808
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$1,097
• − Repairs & maintenance: −$1,025
• − Management: −$1,025
• − Depreciation: −$1,743
• Taxable income: $3,665
• Est. tax owed @ 24.0%: −$880
• After-tax cash flow: $3,474/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This fully renovated manufactured home offers a fresh, move-in-ready living space with updated kitchens and bathrooms, new exterior features, and a well-maintained exterior. Minor touch-ups to exterior trim and windows would further enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior trim and siding — Enhances curb appeal and value.
• Both Replace front door — Improves security and aesthetics.
• Both Install new windows — Enhances energy efficiency and view.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim and siding — Enhances curb appeal and value. ↑
• Both Replace front door — Improves security and aesthetics. ↑
• Both Install new windows — Enhances energy efficiency and view. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Perry Local
• NCES district ID: 3904578
• Math proficiency: 42% ▼ -15.00%
• Reading proficiency: 57% ▼ -5.00%
• Median HH income: $39,879
• Composite: 41.34/100
• National rank: #3501
• State rank: #460 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): 14,197
• Household income: $42,594
• Rent vs Own: 42.7% rent · 57.3% own
• Severe rent burden: 8.1

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 19% Two or more races 8% Hispanic / Latino 2%
• Common ancestry: Italian 1% Slovak 1% Lithuanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 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: ▼ -124.39%
• Current HPI: 126.4189
• 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

+648.8% since first listed

2 events — show timeline

• 2026-05-19 Listed $59,900 WCARE
• 2025-09-02 Sold (MLS) $8,000 WCARE