1705 Karen St · Lima, OH 45801

$135,000

3 bd · 1.5 ba · 1,254 sqft · SingleFamily public records · 3 Days on market

Built 1954 $108/sqft · 15% below area Est $159k · 15% 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 +26.2/30.0
• ARV discount +14.3/15.0
• DSCR +8.9/10.0
• 1% rule +6.3/10.0
• Schools +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3-bedroom, 1.5 bath ranch situated on a desirable corner lot. This home offers tons of potential with a functional single-level layout, generous living space, and great natural light. Ideal for buyers looking to personalize or investors seeking their next project. Enjoy the added privacy of a corner lot and the convenience of ranch-style living. Don't miss the opportunity to make this home your own!

Key facts

• 2 garage spots
• Built 1954
• Listed 2 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Cap rate 9.4% 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.
• Elida Local (rural): math 59% / reading 59% proficiency, ranked #311 of 656 in OH (top 47%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 74 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% 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 $933 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $40k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $39k; list at $135k implies a 246% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1954 — 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: 1.13% ✓
• Cap rate: 9.37%
• Cash-on-cash: 10.98%
• DSCR: 1.49
• GRM: 7.4

CMA / ARV

• ARV (median comp): $159,045
• List price: $135,000
• Delta: -5.75%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
429 Lewis Blvd	0.06mi	3/1.0	1,232 (-2%)	0mo	$174,000	$141	92
500 W Northern Ave	0.10mi	3/1.0	1,232 (-2%)	2mo	$215,000	$175	89
2126 N Metcalf St	0.26mi	3/1.0	1,218 (-3%)	2mo	$179,900	$148	80
524 Sandpiper St	0.41mi	3/1.5	1,340 (+7%)	0mo	$232,000	$173	69
1809 N Metcalf St	0.44mi	3/2.5	1,176 (-6%)	0mo	$199,900	$170	65
660 W Lane Ave	0.42mi	4/1.0 (+1)	1,305 (+4%)	2mo	$180,000	$138	65
1014 Brower Rd. Rd	0.63mi	3/1.0	1,248 (-0%)	3mo	$86,500	$69	65
1889 N Metcalf St	0.42mi	3/1.5	1,148 (-8%)	3mo	$175,000	$152	64
570 Sandpiper St	0.42mi	3/2.0	1,128 (-10%)	1mo	$160,000	$142	60
1200 N Main St	0.62mi	3/2.0	1,352 (+8%)	0mo	$114,900	$85	56
2380 Mandolin Dr	0.68mi	3/2.0	1,120 (-11%)	1mo	$182,900	$163	48
2381 Mandolin Dr	0.70mi	3/2.0	1,438 (+15%)	1mo	$161,700	$112	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: 0.1%
• Equity multiple: 1.00×
• Total profit: $130
• Equity at exit: $20,129

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $28,391
• Equity at exit: $11,672

Cash invested: $37,800 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,528 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$97 /mo · $1,167/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $346

Break-even live

Break-even rent $1,090

Max offer price $135,000

Occupancy floor 72%

Sensitivity live

Price	-10% $422	-5% $384	+0% $346	+5% $308	+10% $269
Rent	-10% $225	-5% $285	+0% $346	+5% $406	+10% $467
Rate	-1.0pp $414	-0.5pp $380	base $346	+0.5pp $311	+1.0pp $275

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	0.78mi

Listing history 26 events

1. 2026-06-19
   days on market $135,000 Active 3 DOM
2. 2026-06-18
   days on market $135,000 Active 2 DOM
3. 2026-06-17
   remarks 467-char remark
4. 2026-06-17
   pricedays on marketlisting id $135,000 Active 1 DOM
5. 2026-06-15
   days on market $149,900 Active 151 DOM
6. 2026-06-14
   days on market $149,900 Active 149 DOM
7. 2026-06-12
   days on market $149,900 Active 148 DOM
8. 2026-06-08
   days on market $149,900 Active 144 DOM
9. 2026-06-07
   days on market $149,900 Active 143 DOM
10. 2026-06-05
    days on market $149,900 Active 141 DOM
11. 2026-06-04
    days on market $149,900 Active 139 DOM
12. 2026-06-02
    days on market $149,900 Active 138 DOM
13. 2026-06-01
    days on market $149,900 Active 137 DOM
14. 2026-05-31
    days on market $149,900 Active 136 DOM
15. 2026-05-31
    days on market $149,900 Active 135 DOM
16. 2026-05-12
    price $155,000 411-char remark

    Show marketing remark (411 chars)

    Charming 3-bedroom, 1.5 bath ranch situated on a desirable corner lot. This home offers tons of potential with a functional single-level layout, generous living space, and great natural light. Ideal for buyers looking to personalize or investors seeking their next project. Enjoy the added privacy of a corner lot and the convenience of ranch-style living. Don't miss the opportunity to make this home your own!

17. 2026-05-12
    price $155,000 411-char remark

    Show marketing remark (411 chars)

    Charming 3-bedroom, 1.5 bath ranch situated on a desirable corner lot. This home offers tons of potential with a functional single-level layout, generous living space, and great natural light. Ideal for buyers looking to personalize or investors seeking their next project. Enjoy the added privacy of a corner lot and the convenience of ranch-style living. Don't miss the opportunity to make this home your own!

18. 2026-04-07
    price $164,000 411-char remark

    Show marketing remark (411 chars)

    Charming 3-bedroom, 1.5 bath ranch situated on a desirable corner lot. This home offers tons of potential with a functional single-level layout, generous living space, and great natural light. Ideal for buyers looking to personalize or investors seeking their next project. Enjoy the added privacy of a corner lot and the convenience of ranch-style living. Don't miss the opportunity to make this home your own!

19. 2026-04-07
    price $164,000 411-char remark

    Show marketing remark (411 chars)

    Charming 3-bedroom, 1.5 bath ranch situated on a desirable corner lot. This home offers tons of potential with a functional single-level layout, generous living space, and great natural light. Ideal for buyers looking to personalize or investors seeking their next project. Enjoy the added privacy of a corner lot and the convenience of ranch-style living. Don't miss the opportunity to make this home your own!

20. 2026-02-11
    price $169,000 411-char remark

    Show marketing remark (411 chars)

    Charming 3-bedroom, 1.5 bath ranch situated on a desirable corner lot. This home offers tons of potential with a functional single-level layout, generous living space, and great natural light. Ideal for buyers looking to personalize or investors seeking their next project. Enjoy the added privacy of a corner lot and the convenience of ranch-style living. Don't miss the opportunity to make this home your own!

21. 2026-02-11
    price $169,000 411-char remark

    Show marketing remark (411 chars)

    Charming 3-bedroom, 1.5 bath ranch situated on a desirable corner lot. This home offers tons of potential with a functional single-level layout, generous living space, and great natural light. Ideal for buyers looking to personalize or investors seeking their next project. Enjoy the added privacy of a corner lot and the convenience of ranch-style living. Don't miss the opportunity to make this home your own!

22. 2026-01-15
    listed $175,000 Active 411-char remark

    Show marketing remark (411 chars)

    Charming 3-bedroom, 1.5 bath ranch situated on a desirable corner lot. This home offers tons of potential with a functional single-level layout, generous living space, and great natural light. Ideal for buyers looking to personalize or investors seeking their next project. Enjoy the added privacy of a corner lot and the convenience of ranch-style living. Don't miss the opportunity to make this home your own!

23. 2026-01-15
    listed $175,000 Active 411-char remark

    Show marketing remark (411 chars)

    Charming 3-bedroom, 1.5 bath ranch situated on a desirable corner lot. This home offers tons of potential with a functional single-level layout, generous living space, and great natural light. Ideal for buyers looking to personalize or investors seeking their next project. Enjoy the added privacy of a corner lot and the convenience of ranch-style living. Don't miss the opportunity to make this home your own!

24. 2016-11-04
    historical
25. 2006-09-28
    listed $77,500
26. 1990-05-22
    soldstatus $39,000

ⓘ 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: $1,167 · $97/mo
• Projected year-2 tax: $1,636 · $136/mo
• Expected delta: +$470/yr (+$39/mo · 40.3%)

ⓘ 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: $18,338
• − Mortgage interest: −$7,562
• − Property taxes: −$1,167
• − Insurance: −$675
• − Repairs & maintenance: −$1,467
• − Management: −$1,467
• − Depreciation: −$3,927
• Taxable income: $2,073
• Est. tax owed @ 24.0%: −$498
• After-tax cash flow: $3,652/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: Elida Local
• NCES district ID: 3904577
• Math proficiency: 59% ▼ -11.00%
• Reading proficiency: 59% ▼ -7.00%
• Median HH income: $46,632
• Composite: 49.93/100
• National rank: #1934
• State rank: #311 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

+297.4% since first listed

11 events — show timeline

• 2026-05-12 Price Changed $155,000 WRIST
• 2026-05-12 Price Changed $155,000 WCARE
• 2026-04-07 Price Changed $164,000 WCARE
• 2026-04-07 Price Changed $164,000 WRIST
• 2026-02-11 Price Changed $169,000 WCARE
• 2026-02-11 Price Changed $169,000 WRIST
• 2026-01-15 Listed $175,000 WCARE
• 2026-01-15 Listed $175,000 WRIST
• 2016-11-04 Listing Removed — WRIST
• 2006-09-28 Listed $77,500 WRIST
• 1990-05-22 Sold (Public Records) $39,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,167 · -2.3% YoY. Source: county tax records.