316 Ewing Ave · Lima, OH 45801

$59,499

2 bd · 1.0 ba · 1,222 sqft · SingleFamily public records · 65 Days on market

Built 1905 Poor condition Garage $49/sqft · 67% below area

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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 +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +1.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Investors! Finish off this value add property to your liking! This 2 bedroom, one full bath RANCH offers 1222 square feet and a 32 x 92 lot! Fantastic ARV value! Roof within 5years. Asphalt Driveway! Attached one car garage! Updates include: Newer roof, furnace, hot water tank, electrical panel and wiring to home, + vinyl siding ! Bring your finishing touches! Selling AS IS, Where Is. No Seller financing. Quiet Street! Close to downtown Lima, parks, restaurants, shopping, hospital, freeway access and more! There are 27 other single family home properties for sale that are either tenant occupied or value add investments! Reach out to listing agent via email for info.

Key facts

• One car garage
• Full basement
• Fireplace

Tags

• FULL BASEMENT
• ONE CAR GARAGE
• FIREPLACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $59k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $671 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $56k (6.0% below list) — sets the bar for market timing.
• Cap rate 19.8% vs local median 6.5% 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.
• Zoned schools: Liberty Arts Magnet K-8 (math 40% / reading 46%, grade F, #1,023 of 1,584 statewide, top 65%, 416 students, 0% FRL); Lima West Middle School (math 22% / reading 24%, grade F, #600 of 654 statewide, top 92%, 352 students, 0% FRL); Lima Senior High School (math 16% / reading 42%, grade F, #627 of 781 statewide, top 81%, 1,013 students, 0% FRL) — zoned schools average 0% FRL vs 83% district-wide (83 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 159 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 28d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 31% 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 $411 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($56k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y 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 $30k; list at $59k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,929 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1905 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 2.27% ✓
• Cap rate: 19.82%
• Cash-on-cash: 48.33%
• DSCR: 3.15
• GRM: 3.7

CMA / ARV

• ARV (median comp): $131,558
• List price: $59,499
• Delta: -54.77%
• 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
1020 N Mcdonel St	0.17mi	3/2.0 (+1)	1,260 (+3%)	4mo	$137,500	$109	75
560 W O'connor Ave	0.40mi	3/1.0 (+1)	1,216 (-0%)	2mo	$174,500	$144	74
1215 Belvidere Ave	0.48mi	2/1.0	1,260 (+3%)	2mo	$184,400	$146	71
576 W Grand Ave	0.38mi	3/1.0 (+1)	1,249 (+2%)	4mo	$35,000	$28	70
1041 Summit St	0.71mi	2/1.0	1,208 (-1%)	1mo	$21,850	$18	64
1039 Summit St	0.70mi	2/1.0	1,276 (+4%)	0mo	$22,000	$17	60
543 Cortlandt Ave	0.31mi	3/2.5 (+1)	1,377 (+13%)	1mo	$163,000	$118	52
1121 Judith St	0.51mi	3/1.0 (+1)	1,080 (-12%)	1mo	$135,650	$126	51
1114 Judith St	0.48mi	3/1.0 (+1)	1,400 (+15%)	1mo	$125,000	$89	48
677 W Grand Ave	0.58mi	3/1.0 (+1)	1,074 (-12%)	2mo	$105,000	$98	46
817 Brendonwood Dr	0.65mi	3/1.5 (+1)	1,360 (+11%)	2mo	$202,000	$149	43
1213 Melrose St	0.74mi	2/1.5	1,040 (-15%)	3mo	$162,000	$156	36

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: 45.8%
• Equity multiple: 2.99×
• Total profit: $33,101
• Equity at exit: $8,871

10-year hold

• IRR: 51.6%
• Equity multiple: 6.04×
• Total profit: $83,891
• Equity at exit: $5,144

Cash invested: $16,660 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 31 active · 46 under contract
• Months of supply: 5.5 mo (18%/mo absorbed)
• Median asking: $100,000 ($92/sqft)
• Median days on market: 66 d
• This list price: 19% of active listings are priced below it
• ARV vs active asking: +16.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 45801

• Active inventory: 159
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,350 high
• Mortgage (P&I): −$312
• Tax from tax record: −$59 /mo · $710/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $671

Break-even live

Break-even rent $501

Max offer price $59,499

Occupancy floor 45%

Sensitivity live

Price	-10% $705	-5% $688	+0% $671	+5% $654	+10% $637
Rent	-10% $564	-5% $618	+0% $671	+5% $724	+10% $778
Rate	-1.0pp $701	-0.5pp $686	base $671	+0.5pp $655	+1.0pp $640

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: $14,875
• Closing costs: $1,785
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 N West St Lima, OH	1.0	1.0	800	$850	$1.06	0d	1	0.04mi
961 N West St Lima, OH	2.0	1.0	1033	$1,200	$1.16	10d	1	0.13mi
330 W Ashton Ave Lima, OH	3.0	1.0	1288	$2,000	$1.55	184d	1	0.19mi
330 W Ashton Ave Lima, OH	3.0	1.0	1288	$2,000	$1.55	0d	1	0.19mi
702 W Murphy St Lima, OH	3.0	1.0	1412	$1,200	$0.85	0d	1	0.33mi
705 W Murphy St Unit 1 Lima, OH	3.0	1.5	1400	$1,400	$1.00	0d	1	0.34mi
580 W Grand Ave Lima, OH	3.0	1.0	1224	$1,395	$1.14	20d	1	0.41mi
607 W Grand Ave Lima, OH	3.0	1.0	1250	$1,400	$1.12	47d	1	0.45mi
913 W Murphy St Lima, OH	3.0	2.0	1144	$1,500	$1.31	29d	1	0.68mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	184d	1	0.70mi
149 W Lane Ave Lima, OH	3.0	1.0	1000	$1,850	$1.85	31d	1	0.72mi
713 Woodward Ave Lima, OH	3.0	1.0	1305	$1,000	$0.77	10d	1	0.72mi
810 W North St Lima, OH	2.0	2.5	1200	$2,395	$2.00	10d	1	0.82mi
614 Westbrook Dr Lima, OH	3.0	1.0	1259	$1,570	$1.25	23d	1	0.87mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$925	$0.84	0d	4	0.89mi
545 W Market St Unit 340 1/2 Mcpheron Lima, OH	2.0	1.0	900	$800	$0.89	184d	1	0.93mi
1028 W Wayne St Lima, OH	2.0	1.0	895	$1,095	$1.22	44d	1	0.99mi
1741 Lucille Dr Lima, OH	2.0	1.0	1000	$1,229	$1.23	0d	1	0.99mi
1178 W Wayne St Lima, OH	2.0	1.0	1004	$1,150	$1.15	44d	1	1.14mi
1014 W Market St Apt 3 Lima, OH	2.0	1.0	800	$1,400	$1.75	0d	1	1.22mi
1014 W Market St Apt 3 Lima, OH	2.0	1.0	800	$1,400	$1.75	184d	1	1.22mi
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	184d	1	1.24mi
430 Elmwood Pl Lima, OH	3.0	1.5	1496	$1,100	$0.74	51d	1	1.25mi
509 N Rosedale Ave Lima, OH	3.0	1.0	1210	$2,100	$1.74	5d	1	1.27mi
138 Harrison Ave Lima, OH	3.0	1.0	1152	$975	$0.85	0d	1	1.28mi
419 S Collett St Lima, OH	3.0	1.5	1440	$1,300	$0.90	27d	1	1.34mi
311 N Rosedale Ave Lima, OH	3.0	2.0	1104	$1,395	$1.26	31d	1	1.35mi
1436 W High St Lima, OH	2.0	1.0	1205	$895	$0.74	184d	1	1.46mi

Property features AI

Exterior

• Parking: One-car garage
• Utilities: Public waterPublic sewer
• Home design: Single-family residenceResidential property type
• Exterior features: Residential zoning

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heatingNo central cooling
• Interior features: Five total roomsForced air heating

Listing history 50 events

1. 2026-11-08
   days on market $59,499 Active 65 DOM
2. 2026-11-07
   days on market $59,499 Active 64 DOM
3. 2026-11-06
   days on market $59,499 Active 63 DOM
4. 2026-11-06
   price $59,499 Active 62 DOM
5. 2026-11-05
   days on market $60,000 Active 62 DOM
6. 2026-11-04
   days on market $60,000 Active 61 DOM
7. 2026-11-02
   days on market $60,000 Active 59 DOM
8. 2026-11-01
   days on market $60,000 Active 58 DOM
9. 2026-10-31
   days on market $60,000 Active 57 DOM
10. 2026-10-30
    days on market $60,000 Active 56 DOM
11. 2026-10-29
    days on market $60,000 Active 55 DOM
12. 2026-10-28
    days on market $60,000 Active 54 DOM
13. 2026-10-27
    days on market $60,000 Active 53 DOM
14. 2026-10-26
    days on market $60,000 Active 52 DOM
15. 2026-10-25
    days on market $60,000 Active 51 DOM
16. 2026-10-24
    days on market $60,000 Active 50 DOM
17. 2026-10-23
    days on market $60,000 Active 49 DOM
18. 2026-10-22
    days on market $60,000 Active 48 DOM
19. 2026-10-21
    days on market $60,000 Active 47 DOM
20. 2026-10-20
    days on market $60,000 Active 46 DOM
21. 2026-10-19
    days on market $60,000 Active 45 DOM
22. 2026-10-18
    days on market $60,000 Active 44 DOM
23. 2026-10-17
    days on market $60,000 Active 43 DOM
24. 2026-10-16
    days on market $60,000 Active 42 DOM
25. 2026-10-15
    days on market $60,000 Active 41 DOM
26. 2026-10-14
    days on market $60,000 Active 40 DOM
27. 2026-10-13
    days on market $60,000 Active 39 DOM
28. 2026-10-12
    days on market $60,000 Active 38 DOM
29. 2026-10-11
    days on market $60,000 Active 37 DOM
30. 2026-10-10
    days on market $60,000 Active 36 DOM
31. 2026-10-09
    days on market $60,000 Active 35 DOM
32. 2026-10-08
    days on market $60,000 Active 34 DOM
33. 2026-10-07
    days on market $60,000 Active 33 DOM
34. 2026-10-06
    days on market $60,000 Active 32 DOM
35. 2026-10-05
    days on market $60,000 Active 31 DOM
36. 2026-10-04
    days on market $60,000 Active 30 DOM
37. 2026-10-03
    days on market $60,000 Active 29 DOM
38. 2026-10-02
    days on market $60,000 Active 28 DOM
39. 2026-10-01
    days on market $60,000 Active 27 DOM
40. 2026-09-30
    days on market $60,000 Active 26 DOM
41. 2026-09-29
    days on market $60,000 Active 25 DOM
42. 2026-09-28
    days on market $60,000 Active 24 DOM
43. 2026-09-27
    days on market $60,000 Active 23 DOM
44. 2026-09-26
    days on market $60,000 Active 22 DOM
45. 2026-09-25
    days on market $60,000 Active 21 DOM
46. 2026-09-24
    days on market $60,000 Active 20 DOM
47. 2026-09-23
    days on market $60,000 Active 19 DOM
48. 2026-09-21
    days on market $60,000 Active 17 DOM
49. 2026-09-20
    days on market $60,000 Active 16 DOM
50. 2026-09-18
    days on market $60,000 Active 14 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: $710 · $59/mo
• Projected year-2 tax: $819 · $68/mo
• Expected delta: +$109/yr (+$9/mo · 15.4%)

ⓘ 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: $16,205
• − Mortgage interest: −$3,333
• − Property taxes: −$710
• − Insurance: −$297
• − Repairs & maintenance: −$1,296
• − Management: −$1,296
• − Depreciation: −$1,731
• Taxable income: $7,542
• Est. tax owed @ 24.0%: −$1,810
• After-tax cash flow: $6,241/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.

Condition & rehab AI · 9 photos

Poor 30/100 Extensive rehab Est. rehab $61,100–$109,980 screening

This property requires extensive renovations, including kitchen and bathroom updates, exterior painting, and structural repairs. Immediate safety hazards and deferred maintenance are present. Potential resale and rental value can be significantly increased with these improvements.

Deferred maintenance Est. $60,000–$180,000 screening

• Major Roof (roof) — No roof visible in photos
• Major Windows (windows) — Windows appear old and possibly broken
• Major Electrical (electrical) — Electrical panel appears old and possibly outdated
• Major Plumbing (plumbing) — No visible plumbing in photos
• Major Exterior (exterior) — Exterior siding appears old and possibly damaged
• Major Other — No other visible components in photos

Repairs flagged

• Major Exposed wiring in kitchen and bathroom — Safety hazard and need for immediate repair
• Major Broken steps — Structural damage and safety hazard
• Major Exposed electrical panel — Safety hazard and need for upgrade

Value-add opportunities

• Resale Kitchen renovation — Modern kitchen with updated appliances and cabinets ↑
• Resale Bathroom renovation — Modern bathroom with updated fixtures and finishes ↑
• Both Exterior painting and landscaping — Enhances curb appeal and adds value to both resale and rental ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 31/100

Zoned Schools

Elementary Liberty Arts Magnet K-8 F OH #1,023/1,584 Nat'l #17,525/41,679 Middle Lima North Middle School F OH #602/654 Nat'l #11,208/14,009 High Lima Senior High School F OH #627/781 Nat'l #11,621/17,239

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

C Composite livability gradescore 64/100

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 · 100,321 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: 6% of renters

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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%

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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%
• Languages at home: 96% English-only · Spanish 2%

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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

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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

Property features AI

Exterior

• Parking: One-car garage
• Utilities: Public waterPublic sewer
• Home design: Single-family residenceResidential property type
• Exterior features: Residential zoning

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heatingNo central cooling
• Interior features: Five total roomsForced air heating

Price history

+500.0% since first listed

12 events — show timeline

• 2026-09-04 Listed $60,000 WCARE
• 2026-08-18 Listing Removed — MLSNOW
• 2026-04-25 Price Changed $59,000 MLSNOW
• 2026-03-03 Price Changed $63,000 MLSNOW
• 2026-02-21 Price Changed $65,000 MLSNOW
• 2026-01-30 Listed $68,000 MLSNOW
• 2025-07-09 Price Changed $1 MARMLS
• 2025-05-20 Price Changed $35,000 MARMLS
• 2025-04-29 Listed $45,000 MARMLS
• 2022-03-22 Sold (MLS) $29,706 WCARE
• 2021-06-25 Listed $39,900 WCARE
• 1991-04-24 Sold (Public Records) $10,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $710 · +0.2% YoY. Source: county tax records.