576 W Ashton Ave · Lima, OH 45801

$91,000

2 bd · 1.0 ba · 795 sqft · SingleFamily public records · 133 Days on market

Built 1945 5,924 sqft lot $114/sqft · 18% below area Est $111k · 18% 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 +27.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +6.9/10.0
• 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

Welcome home to this delightful two-bedroom, one-bath charmer, that blends comfort and simplicity. Freshly painted interiors and brand new carpet create a bright, welcoming feel throughout, making this home truly move in ready. The cozy layout offers inviting living spaces with just the right amount of character, while the detached one-car garage adds everyday convenience and extra storage. (This property shares a driveway). Schedule your showing today! Seller is offering a 1 year shield essential Home Warranty.

Key facts

• 5,924 sq ft lot
• Garage
• Built 1945

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $91k.

Deal economics

• At list price, monthly cash flow is $267 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $91k).
• Recommended offer: $80k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 7.7% in Lima — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 3 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; 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 $629 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 ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($80k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 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 1945 — 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: 1.19% ✓
• Cap rate: 9.81%
• Cash-on-cash: 12.57%
• DSCR: 1.56
• GRM: 7.0

CMA / ARV

• ARV (median comp): $110,692
• List price: $91,000
• Delta: -17.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
557 W Ashton Ave	0.03mi	2/1.0	720 (-9%)	1mo	$110,000	$153	82
1031 Burch Ave	0.06mi	2/1.0	768 (-3%)	14mo	$87,500	$114	80
1212 Virgina Ave	0.30mi	2/1.0	768 (-3%)	2mo	$101,000	$132	79
645 O Connor Ave	0.15mi	1/1.0 (-1)	741 (-7%)	2mo	$70,000	$94	75
500 W Robb Ave	0.25mi	2/2.0	842 (+6%)	4mo	$125,000	$148	71
608 W O'connor Ave	0.14mi	2/1.0	896 (+13%)	3mo	$79,500	$89	70
722 N Elizabeth St	0.44mi	2/1.0	824 (+4%)	4mo	$15,000	$18	70
426 Ertel Ave	0.45mi	3/1.0 (+1)	864 (+9%)	1mo	$116,500	$135	58
706 Marian Ave	0.54mi	3/1.0 (+1)	792 (-0%)	14mo	$129,900	$164	57
680 Cortlandt Ave	0.47mi	3/1.0 (+1)	843 (+6%)	17mo	$145,000	$172	48
742 W O'connor Ave	0.27mi	3/2.0 (+1)	896 (+13%)	15mo	$160,000	$179	45
1745 Brookwood Dr	0.61mi	2/1.0	875 (+10%)	20mo	$90,000	$103	38

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: 2.3%
• Equity multiple: 1.09×
• Total profit: $2,246
• Equity at exit: $13,568

10-year hold

• IRR: 11.9%
• Equity multiple: 1.93×
• Total profit: $23,816
• Equity at exit: $7,868

Cash invested: $25,480 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,085 medium
• Mortgage (P&I): −$477
• Tax from tax record: −$75 /mo · $902/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $267

Break-even live

Break-even rent $747

Max offer price $91,000

Occupancy floor 70%

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: $22,750
• Closing costs: $2,730
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	1.12mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$956	$0.87	43d	9	1.16mi
1014 W Market St Apt 3 Lima, OH	2.0	1.0	800	$1,400	$1.75	43d	1	1.26mi

Listing history 18 events

1. 2026-06-19
   days on market $91,000 Active 133 DOM
2. 2026-06-18
   days on market $91,000 Active 132 DOM
3. 2026-06-17
   days on market $91,000 Active 131 DOM
4. 2026-06-16
   days on market $91,000 Active 130 DOM
5. 2026-06-15
   days on market $91,000 Active 129 DOM
6. 2026-06-14
   days on market $91,000 Active 127 DOM
7. 2026-06-12
   days on market $91,000 Active 126 DOM
8. 2026-06-09
   days on market $91,000 Active 123 DOM
9. 2026-06-08
   days on market $91,000 Active 122 DOM
10. 2026-06-07
    days on market $91,000 Active 121 DOM
11. 2026-06-07
    days on market $91,000 Active 120 DOM
12. 2026-06-04
    days on market $91,000 Active 117 DOM
13. 2026-06-02
    days on market $91,000 Active 116 DOM
14. 2026-06-01
    days on market $91,000 Active 115 DOM
15. 2026-05-31
    days on market $91,000 Active 114 DOM
16. 2026-05-31
    days on market $91,000 Active 113 DOM
17. 2026-02-06
    listed $96,000 Active 518-char remark

    Show marketing remark (518 chars)

    Welcome home to this delightful two-bedroom, one-bath charmer, that blends comfort and simplicity. Freshly painted interiors and brand new carpet create a bright, welcoming feel throughout, making this home truly move in ready. The cozy layout offers inviting living spaces with just the right amount of character, while the detached one-car garage adds everyday convenience and extra storage. (This property shares a driveway). Schedule your showing today! Seller is offering a 1 year shield essential Home Warranty.

18. 2026-02-02
    historical $96,000 518-char remark

    Show marketing remark (518 chars)

    Welcome home to this delightful two-bedroom, one-bath charmer, that blends comfort and simplicity. Freshly painted interiors and brand new carpet create a bright, welcoming feel throughout, making this home truly move in ready. The cozy layout offers inviting living spaces with just the right amount of character, while the detached one-car garage adds everyday convenience and extra storage. (This property shares a driveway). Schedule your showing today! Seller is offering a 1 year shield essential Home Warranty.

ⓘ 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: $902 · $75/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$259/yr (+$22/mo · 28.6%)

ⓘ 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: $13,021
• − Mortgage interest: −$5,097
• − Property taxes: −$902
• − Insurance: −$455
• − Repairs & maintenance: −$1,042
• − Management: −$1,042
• − Depreciation: −$2,647
• Taxable income: $1,836
• Est. tax owed @ 24.0%: −$441
• After-tax cash flow: $2,762/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

+0.0% since first listed

2 events — show timeline

• 2026-02-06 Listed $96,000 WCARE
• 2026-02-02 Coming Soon $96,000 WCARE

Property tax history

+2.2%/yr

Latest (2025): $902 · +3.3% YoY. Source: county tax records.