1428 S Sugar St · Lima, OH 45804

$29,900

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 18 Days on market

Built 1920 0.32 ac lot

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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
• 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

Check out this fixer upper! Add this property to your portfolio and make it your own. This 2 bed/1 bath layout feature a large lot and a detached garage. Could be purchased with 1.81 acres behind the house with access coming off of 4th St.

Key facts

• Large lot
• Detached garage
• 0.32 acre lot

Tags

• LARGE LOT
• DETACHED GARAGE
• ACCESS COMING OFF OF 4TH ST

Property features AI

Finance

• Other: Listed by Dye Real Estate & Land Company
• Financial info: Annual tax: $312

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level
• Construction: Block foundation
• Exterior features: Residential zoning; 0.32-acre lot

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Has heating (type: Other); No cooling
• Interior features: Total of 5 rooms; Fixer condition

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $598 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $29k (1.5% below list) — sets the bar for market timing.
• Cap rate 30.3% 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: 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $25k; 20% 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 $29,451 (1.5% 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. 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: 3.36% ✓
• Cap rate: 30.30%
• Cash-on-cash: 85.74%
• DSCR: 4.81
• GRM: 2.5

CMA / ARV

• ARV (on-the-fly): $88,560
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
861 E 4th St	0.08mi	2/1.0	806 (+12%)	4mo	$99,500	$123	73
1103 Franklin St	0.74mi	2/1.0	680 (-6%)	5mo	$13,000	$19	52

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: 86.2%
• Equity multiple: 4.97×
• Total profit: $33,262
• Equity at exit: $4,458

10-year hold

• IRR: 89.3%
• Equity multiple: 10.32×
• Total profit: $78,055
• Equity at exit: $2,585

Cash invested: $8,372 (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: 2.5×

Monthly cashflow live

• Estimated rent: $1,005 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$26 /mo · $314/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $598

Break-even live

Break-even rent $247

Max offer price $29,900

Occupancy floor 35%

Sensitivity live

Price	-10% $615	-5% $607	+0% $598	+5% $590	+10% $581
Rent	-10% $519	-5% $559	+0% $598	+5% $638	+10% $678
Rate	-1.0pp $613	-0.5pp $606	base $598	+0.5pp $590	+1.0pp $583

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-19
   days on market $29,900 Active 18 DOM
2. 2026-06-18
   days on market $29,900 Active 17 DOM
3. 2026-06-17
   days on market $29,900 Active 16 DOM
4. 2026-06-16
   days on market $29,900 Active 15 DOM
5. 2026-06-15
   days on market $29,900 Active 14 DOM
6. 2026-06-14
   days on market $29,900 Active 12 DOM
7. 2026-06-12
   days on market $29,900 Active 11 DOM
8. 2026-06-09
   days on market $29,900 Active 8 DOM
9. 2026-06-08
   days on market $29,900 Active 7 DOM
10. 2026-06-07
    days on market $29,900 Active 6 DOM
11. 2026-06-07
    days on market $29,900 Active 5 DOM
12. 2026-06-04
    days on market $29,900 Active 2 DOM
13. 2026-06-01
    remarks 239-char remark
14. 2026-06-01
    listed $29,900 Active 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: $314 · $26/mo
• Projected year-2 tax: $390 · $33/mo
• Expected delta: +$76/yr (+$6/mo · 24.3%)

ⓘ 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: $12,054
• − Mortgage interest: −$1,675
• − Property taxes: −$314
• − Insurance: −$150
• − Repairs & maintenance: −$964
• − Management: −$964
• − Depreciation: −$870
• Taxable income: $7,118
• Est. tax owed @ 24.0%: −$1,708
• After-tax cash flow: $5,470/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

+19.6% since first listed

2 events — show timeline

• 2026-06-01 Listed $29,900 WCARE
• 2023-02-16 Sold (Public Records) $25,000 Public Records

Property tax history

-2.8%/yr

Latest (2025): $314 · -0.1% YoY. Source: county tax records.