923 Burch Ave · Lima, OH 45801

$139,000

2 bd · 1.0 ba · 1,029 sqft · SingleFamily public records · 2 Days on market

Built 1946 9,583 sqft lot Est $140k · at est.

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Why this score? — see what drove the C- 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 +22.7/30.0
• ARV discount +7.8/15.0
• DSCR +7.3/10.0
• 1% rule +5.1/10.0
• 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

Charming and full of warmth, this adorable 2-bedroom, 1-bath bungalow is the perfect place to call home. Sun light pours in through generous windows, creating an inviting atmosphere throughout the living spaces. Step outside to a large backyard ideal for gatherings with friends and family, complete with a bonfire area. This home has been thoughtfully updated with numerous upgrades, including a new water heater, furnace, central air system, some updated flooring, and a beautifully renovated bathroom. Newer appliances are also included, making this home truly move-in ready. You will also find a spacious garage featuring a built-in workbench, along with a generously sized laundry area offering tons of storage and shelving to keep everything organized. Conveniently located near parks and playgrounds, this charming home blends comfort, functionality, and location into one package.

Key facts

• New furnace
• Bonfire area
• Large backyard

Tags

• LARGE BACKYARD
• BONFIRE AREA
• NEW WATER HEATER
• NEW FURNACE
• CENTRAL AIR SYSTEM
• UPDATED FLOORING

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Supplied water; Public sewer
• Home design: Single-family residential property; Built in 1946; Subdivision: A G Feltzs Sub
• Construction: Vinyl siding construction; Block foundation; Built in 1946
• Exterior features: Vinyl siding; Residential lot; Lot dimensions about 40 x 175 (0.22 acre)

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Kitchen approximately 11 x 10
• Bedrooms: Two bedrooms (12 x 13 and 12 x 10)
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Six total rooms; Block basement
• Laundry & utility: Utility room approximately 10 x 9

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $239 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $139k).

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; 8 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).
• This rent runs 33% of the median local income ($52k/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 $961 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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 $64k; list at $139k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1946 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $139,000

Questions for the listing agent

1. Built in 1946 — 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: 1.01% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $139,944
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
923 Burch Ave	0.00mi	2/1.0	1,029 (0%)	0mo	$142,000	$138	100
1120 Melrose St	0.53mi	3/1.0 (+1)	1,040 (+1%)	2mo	$165,000	$159	67
806 Ewing Ave	0.49mi	3/1.0 (+1)	992 (-4%)	1mo	$31,000	$31	66
638 Hazel Ave	0.44mi	2/1.5	960 (-7%)	1mo	$130,000	$135	65
608 W O'connor Ave	0.28mi	2/1.0	896 (-13%)	3mo	$79,500	$89	63
1027 Sherman Ave	0.69mi	3/1.0 (+1)	1,052 (+2%)	4mo	$130,000	$124	56
809 Rice Ave	0.61mi	2/1.0	936 (-9%)	1mo	$60,000	$64	55
760 W O'connor Ave	0.40mi	3/1.5 (+1)	920 (-11%)	2mo	$125,000	$136	55
1317 Virginia Ave	0.58mi	2/1.0	920 (-11%)	3mo	$144,000	$157	53
753 Brice Ave	0.64mi	3/1.5 (+1)	1,108 (+8%)	3mo	$85,000	$77	48
1889 N Metcalf St	0.55mi	3/1.5 (+1)	1,148 (+12%)	3mo	$175,000	$152	46
1809 N Metcalf St	0.53mi	3/2.5 (+1)	1,176 (+14%)	0mo	$199,900	$170	40

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-7,364
• Equity at exit: $20,725

10-year hold

• IRR: 4.6%
• Equity multiple: 1.33×
• Total profit: $13,020
• Equity at exit: $12,018

Cash invested: $38,920 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,408 high
• Mortgage (P&I): −$729
• Tax from tax record: −$87 /mo · $1,045/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $239

Break-even live

Break-even rent $1,106

Max offer price $139,000

Occupancy floor 78%

Sensitivity live

Price	-10% $317	-5% $278	+0% $239	+5% $199	+10% $160
Rent	-10% $127	-5% $183	+0% $239	+5% $294	+10% $350
Rate	-1.0pp $309	-0.5pp $274	base $239	+0.5pp $203	+1.0pp $166

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 8 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	0.18mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	44d	1	0.69mi
545 W Market St Unit 340 1/2 Mcpheron Lima, OH	2.0	1.0	900	$800	$0.89	44d	1	0.99mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$956	$0.87	44d	9	1.01mi
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	44d	1	1.15mi
1014 W Market St Apt 3 Lima, OH	2.0	1.0	800	$1,400	$1.75	44d	1	1.17mi
1436 W High St Lima, OH	2.0	1.0	1205	$895	$0.74	44d	1	1.37mi
138 Harrison Ave Lima, OH	3.0	1.0	1152	$975	$0.85	44d	1	1.43mi

Listing history 7 events

1. 2026-05-07
   historical Active Under Contract 889-char remark

   Show marketing remark (889 chars)

   Charming and full of warmth, this adorable 2-bedroom, 1-bath bungalow is the perfect place to call home. Sun light pours in through generous windows, creating an inviting atmosphere throughout the living spaces. Step outside to a large backyard ideal for gatherings with friends and family, complete with a bonfire area. This home has been thoughtfully updated with numerous upgrades, including a new water heater, furnace, central air system, some updated flooring, and a beautifully renovated bathroom. Newer appliances are also included, making this home truly move-in ready. You will also find a spacious garage featuring a built-in workbench, along with a generously sized laundry area offering tons of storage and shelving to keep everything organized. Conveniently located near parks and playgrounds, this charming home blends comfort, functionality, and location into one package.

2. 2026-05-06
   status Pending
3. 2026-05-04
   listed $139,000 Active 889-char remark

   Show marketing remark (889 chars)

   Charming and full of warmth, this adorable 2-bedroom, 1-bath bungalow is the perfect place to call home. Sun light pours in through generous windows, creating an inviting atmosphere throughout the living spaces. Step outside to a large backyard ideal for gatherings with friends and family, complete with a bonfire area. This home has been thoughtfully updated with numerous upgrades, including a new water heater, furnace, central air system, some updated flooring, and a beautifully renovated bathroom. Newer appliances are also included, making this home truly move-in ready. You will also find a spacious garage featuring a built-in workbench, along with a generously sized laundry area offering tons of storage and shelving to keep everything organized. Conveniently located near parks and playgrounds, this charming home blends comfort, functionality, and location into one package.

4. 2026-05-04
   listed $139,000 Active

   Show marketing remark (889 chars)

   Charming and full of warmth, this adorable 2-bedroom, 1-bath bungalow is the perfect place to call home. Sun light pours in through generous windows, creating an inviting atmosphere throughout the living spaces. Step outside to a large backyard ideal for gatherings with friends and family, complete with a bonfire area. This home has been thoughtfully updated with numerous upgrades, including a new water heater, furnace, central air system, some updated flooring, and a beautifully renovated bathroom. Newer appliances are also included, making this home truly move-in ready. You will also find a spacious garage featuring a built-in workbench, along with a generously sized laundry area offering tons of storage and shelving to keep everything organized. Conveniently located near parks and playgrounds, this charming home blends comfort, functionality, and location into one package.

5. 2019-05-14
   soldstatus $64,300 415-char remark

   Show marketing remark (415 chars)

   WOW! ADORABLE AND MOVE-IN READY! MANY UPDATES IN THE LAST 4 YEARS THAT INCLUDE: ROOF, GUTTERS, WINDOWS, EXTERIOR DOORS, FRONT PORCH, UPDATED KITCHEN WITH STOVE AND DISHWASHER AND UPGRADED ELECTRICAL PANEL. OTHER HOME FEATURES: NICE MAIN FLOOR LAUNDRY/BREEZEWAY AREA, USABLE BASEMENT FOR STORAGE, 40X14 ATTACHED GARAGE AND SPACIOUS YARD. LIMA STORM WATER ASSESSMENT OF $32.25 INCLUDED IN TAXES AND COMES OFF IN 2018.

6. 2019-05-14
   soldstatus $64,300

   Show marketing remark (415 chars)

   WOW! ADORABLE AND MOVE-IN READY! MANY UPDATES IN THE LAST 4 YEARS THAT INCLUDE: ROOF, GUTTERS, WINDOWS, EXTERIOR DOORS, FRONT PORCH, UPDATED KITCHEN WITH STOVE AND DISHWASHER AND UPGRADED ELECTRICAL PANEL. OTHER HOME FEATURES: NICE MAIN FLOOR LAUNDRY/BREEZEWAY AREA, USABLE BASEMENT FOR STORAGE, 40X14 ATTACHED GARAGE AND SPACIOUS YARD. LIMA STORM WATER ASSESSMENT OF $32.25 INCLUDED IN TAXES AND COMES OFF IN 2018.

7. 2019-03-21
   listed $67,500 415-char remark

   Show marketing remark (415 chars)

   WOW! ADORABLE AND MOVE-IN READY! MANY UPDATES IN THE LAST 4 YEARS THAT INCLUDE: ROOF, GUTTERS, WINDOWS, EXTERIOR DOORS, FRONT PORCH, UPDATED KITCHEN WITH STOVE AND DISHWASHER AND UPGRADED ELECTRICAL PANEL. OTHER HOME FEATURES: NICE MAIN FLOOR LAUNDRY/BREEZEWAY AREA, USABLE BASEMENT FOR STORAGE, 40X14 ATTACHED GARAGE AND SPACIOUS YARD. LIMA STORM WATER ASSESSMENT OF $32.25 INCLUDED IN TAXES AND COMES OFF IN 2018.

ⓘ 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: $1,045 · $87/mo
• Projected year-2 tax: $1,606 · $134/mo
• Expected delta: +$562/yr (+$47/mo · 53.8%)

ⓘ 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: $16,898
• − Mortgage interest: −$7,786
• − Property taxes: −$1,045
• − Insurance: −$695
• − Repairs & maintenance: −$1,352
• − Management: −$1,352
• − Depreciation: −$4,044
• Taxable income: $625
• Est. tax owed @ 24.0%: −$150
• After-tax cash flow: $2,712/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

+105.9% since first listed

7 events — show timeline

• 2026-05-07 Contingent — WCARE
• 2026-05-06 Pending — WRIST
• 2026-05-04 Listed $139,000 WRIST
• 2026-05-04 Listed $139,000 WCARE
• 2019-05-14 Sold (Public Records) $64,300 Public Records
• 2019-05-14 Sold (MLS) $64,300 WCARE
• 2019-03-21 Listed $67,500 WCARE

Property tax history

+4.3%/yr

Latest (2025): $1,045 · +0.1% YoY. Source: county tax records.