823 Holly St · Lima, OH 45804

$129,900

2 bd · 1.0 ba · 1,096 sqft · SingleFamily public records · 9 Days on market

Built 1920

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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 +16.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• 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

This adorable 2 story home has been totally remodeled. You will love this open concept home close to the refinery. Updates include: Roof, Siding, Windows, Kitchen, Bathroom, Flooring, Lights. Beautiful walk in tiled shower with 4 shower heads. Set up your showing today. ,Under 1 Acre

Key facts

• Open concept living
• Plenty of storage
• Large covered porch

Tags

• OUTDOOR SPACE
• OPEN CONCEPT LIVING
• UPDATED FLOORING
• PLENTY OF STORAGE
• LARGE COVERED PORCH
• BACK PATIO

Property features AI

Finance

• Other: Residential zoning

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer; Cable available and connected; Electricity connected; Natural gas connected; Water connected
• Home design: Single-family residence; Two levels; Updated/remodeled condition
• Construction: Vinyl siding
• Exterior features: Covered porch; Fenced yard

Interior

• Kitchen: Includes dishwasher and refrigerator
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Updated/remodeled interior; Dishwasher; Refrigerator; Gas water heater
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $68 ($814/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 $106k (18.5% below list).
• Recommended offer: $106k (18.5% 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.
• Market conditions: 79 active listings in the ZIP; 10 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; lower-income renter base — watch delinquency; 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 $898 of loan paydown is wiped out by about $4k 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.
• 3 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $110k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $105,806 (18.5% 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: 0.81% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $63,568
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
702 W Vine St	0.03mi	2/1.0	1,128 (+3%)	8mo	$65,295	$58	87
785 Holly St	0.08mi	3/1.0 (+1)	1,191 (+9%)	5mo	$30,000	$25	73
418 W Vine St	0.17mi	3/1.0 (+1)	1,205 (+10%)	2mo	$99,000	$82	69
726 W Kibby St	0.27mi	2/1.0	1,124 (+3%)	19mo	$21,000	$19	67
735 Holly St	0.17mi	2/1.0	1,016 (-7%)	19mo	$37,500	$37	64
802 Holly St	0.05mi	3/1.0 (+1)	949 (-13%)	19mo	$41,500	$44	54
929 S Atlantic Ave	0.17mi	3/1.0 (+1)	960 (-12%)	18mo	$64,900	$68	51
807 S Union St	0.59mi	2/1.0	1,006 (-8%)	10mo	$24,500	$24	50
567 S Pierce St	0.40mi	3/1.0 (+1)	1,238 (+13%)	20mo	$80,000	$65	38
1007 Faurot Ave	0.67mi	3/1.0 (+1)	1,248 (+14%)	14mo	$116,500	$93	29

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: -12.8%
• Equity multiple: 0.54×
• Total profit: $-16,795
• Equity at exit: $19,369

10-year hold

• IRR: -3.9%
• Equity multiple: 0.74×
• Total profit: $-9,323
• Equity at exit: $11,231

Cash invested: $36,372 (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: 10.2×

Monthly cashflow live

• Estimated rent: $1,058 high
• Mortgage (P&I): −$681
• Tax from tax record: −$33 /mo · $393/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $68

Break-even live

Break-even rent $972

Max offer price $129,900

Occupancy floor 89%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
545 W Market St Unit 340 1/2 Mcpheron Lima, OH	2.0	1.0	900	$800	$0.89	43d	1	0.88mi
521 Hope St Lima, OH	3.0	2.0	1079	$975	$0.90	43d	1	1.01mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$956	$0.87	43d	9	1.01mi
1014 W Market St Apt 3 Lima, OH	2.0	1.0	800	$1,400	$1.75	43d	1	1.09mi
623 Hope St Lima, OH	3.0	2.0	1079	$975	$0.90	43d	1	1.12mi
616 Hope St Lima, OH	3.0	2.0	1079	$975	$0.90	43d	1	1.12mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	43d	1	1.22mi
138 Harrison Ave Lima, OH	3.0	1.0	1152	$975	$0.85	43d	1	1.29mi
1436 W High St Lima, OH	2.0	1.0	1205	$895	$0.74	43d	1	1.39mi
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	43d	1	1.44mi

Listing history 8 events

1. 2026-06-19
   days on market $129,900 Active 9 DOM
2. 2026-06-18
   days on market $129,900 Active 8 DOM
3. 2026-06-17
   days on market $129,900 Active 7 DOM
4. 2026-06-16
   days on market $129,900 Active 6 DOM
5. 2026-06-15
   days on market $129,900 Active 5 DOM
6. 2026-06-14
   days on market $129,900 Active 3 DOM
7. 2026-06-12
   remarks 482-char remark
8. 2026-06-12
   listed $129,900 Active 2 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: $393 · $33/mo
• Projected year-2 tax: $1,210 · $101/mo
• Expected delta: +$817/yr (+$68/mo · 207.9%)

ⓘ 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 ≥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: $12,697
• − Mortgage interest: −$7,276
• − Property taxes: −$393
• − Insurance: −$650
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$3,779
• Taxable loss: −$1,432
• Est. tax savings @ 24.0%: +$344
• After-tax cash flow: $1,157/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): 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

+1523.8% since first listed

7 events — show timeline

• 2026-06-10 Listed $129,900 WCARE
• 2022-06-16 Sold (Public Records) $110,000 Public Records
• 2022-06-16 Sold (MLS) $110,000 WCARE
• 2022-05-02 Listed $100,000 WCARE
• 2020-09-25 Sold (MLS) $9,000 WCARE
• 2020-08-18 Listed $10,900 WCARE
• 1996-05-22 Sold (Public Records) $8,000 Public Records

Property tax history

-2.6%/yr

Latest (2025): $393 · +0.4% YoY. Source: county tax records.