706 E Kibby St · Lima, OH 45804

$75,000

4 bd · 1.5 ba · 1,610 sqft · SingleFamily public records · 234 Days on market

Built 1920 7,187 sqft lot $47/sqft · 54% above area

---

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
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• 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 MLS

Duplex - 1st floor unit- 3 bedroom, 1 bath & basement with washer and dryer hookup. 2nd floor unit 2 bedroom 1 bath with washer and dryer hookups in unit and private side entrance . Updates include new flooring and fresh paint.

Key facts

• 7,187 sq ft lot
• Built 1920
• Listed 233 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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; 7 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; lower-income renter base — watch delinquency; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($43k/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 $519 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 $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $57k; 32% 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 $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 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 1920 — 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: 1.43% ✓
• Cap rate: 12.44%
• Cash-on-cash: 21.95%
• DSCR: 1.98
• GRM: 5.8

CMA / ARV

• ARV (median comp): $48,693
• List price: $75,000
• Delta: 54.03%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
616 Harrison Ave	0.15mi	4/1.0	1,656 (+3%)	10mo	$95,000	$57	78
645 Harrison Ave	0.13mi	3/1.0 (-1)	1,544 (-4%)	16mo	$70,000	$45	67
525 Franklin St	0.17mi	3/1.0 (-1)	1,508 (-6%)	13mo	$25,000	$17	63
721 E Albert St	0.07mi	3/1.0 (-1)	1,386 (-14%)	4mo	$18,000	$13	63
6 Oakwood Pl	0.52mi	3/2.0 (-1)	1,524 (-5%)	2mo	$120,000	$79	58
416 S Jackson St	0.29mi	3/1.0 (-1)	1,672 (+4%)	18mo	$87,000	$52	58
620 S Elizabeth St	0.61mi	3/1.5 (-1)	1,601 (-1%)	13mo	$62,500	$39	54
815 Catalpa Ave	0.72mi	3/1.5 (-1)	1,512 (-6%)	1mo	$55,000	$36	51
824 E 2nd St	0.60mi	3/1.0 (-1)	1,474 (-8%)	1mo	$37,000	$25	50
221 S Scott St	0.47mi	4/1.0	1,464 (-9%)	14mo	$125,000	$85	49
640 S West St	0.66mi	3/1.0 (-1)	1,779 (+10%)	9mo	$135,500	$76	37
228 Calumet Ave	0.51mi	3/1.0 (-1)	1,400 (-13%)	14mo	$70,000	$50	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: 14.6%
• Equity multiple: 1.59×
• Total profit: $12,296
• Equity at exit: $11,183

10-year hold

• IRR: 23.3%
• Equity multiple: 3.01×
• Total profit: $42,136
• Equity at exit: $6,485

Cash invested: $21,000 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,070 high
• Mortgage (P&I): −$393
• Tax from tax record: −$37 /mo · $441/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $384

Break-even live

Break-even rent $584

Max offer price $75,000

Occupancy floor 59%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
138 Harrison Ave Lima, OH	3.0	1.0	1152	$975	$0.85	43d	1	0.58mi
521 Hope St Lima, OH	3.0	2.0	1079	$975	$0.90	43d	1	0.82mi
623 Hope St Lima, OH	3.0	2.0	1079	$975	$0.90	43d	1	0.83mi
616 Hope St Lima, OH	3.0	2.0	1079	$975	$0.90	43d	1	0.86mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$1,413	$1.28	43d	9	0.86mi
228 Nye St Lima, OH	4.0	2.0	1686	$675	$0.40	43d	1	1.14mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	43d	1	1.47mi

Listing history 22 events

1. 2026-06-19
   days on market $75,000 Active 234 DOM
2. 2026-06-18
   days on market $75,000 Active 233 DOM
3. 2026-06-17
   days on market $75,000 Active 232 DOM
4. 2026-06-16
   days on market $75,000 Active 231 DOM
5. 2026-06-15
   days on market $75,000 Active 230 DOM
6. 2026-06-14
   days on market $75,000 Active 228 DOM
7. 2026-06-12
   days on market $75,000 Active 227 DOM
8. 2026-06-09
   days on market $75,000 Active 224 DOM
9. 2026-06-08
   days on market $75,000 Active 223 DOM
10. 2026-06-07
    days on market $75,000 Active 222 DOM
11. 2026-06-07
    days on market $75,000 Active 221 DOM
12. 2026-06-04
    days on market $75,000 Active 218 DOM
13. 2026-06-02
    days on market $75,000 Active 217 DOM
14. 2026-06-01
    days on market $75,000 Active 216 DOM
15. 2026-05-31
    days on market $75,000 Active 215 DOM
16. 2026-05-31
    days on market $75,000 Active 214 DOM
17. 2026-04-14
    price $75,000 234-char remark

    Show marketing remark (234 chars)

    Duplex - 1st floor unit- 3 bedroom, 1 bath & basement with washer and dryer hookup. 2nd floor unit 2 bedroom 1 bath with washer and dryer hookups in unit and private side entrance . Updates include new flooring and fresh paint.

18. 2026-03-09
    price $85,000 234-char remark

    Show marketing remark (234 chars)

    Duplex - 1st floor unit- 3 bedroom, 1 bath & basement with washer and dryer hookup. 2nd floor unit 2 bedroom 1 bath with washer and dryer hookups in unit and private side entrance . Updates include new flooring and fresh paint.

19. 2025-12-17
    price $95,000 234-char remark

    Show marketing remark (234 chars)

    Duplex - 1st floor unit- 3 bedroom, 1 bath & basement with washer and dryer hookup. 2nd floor unit 2 bedroom 1 bath with washer and dryer hookups in unit and private side entrance . Updates include new flooring and fresh paint.

20. 2025-11-12
    price $100,000 234-char remark

    Show marketing remark (234 chars)

    Duplex - 1st floor unit- 3 bedroom, 1 bath & basement with washer and dryer hookup. 2nd floor unit 2 bedroom 1 bath with washer and dryer hookups in unit and private side entrance . Updates include new flooring and fresh paint.

21. 2025-10-28
    listed $110,000 Active 234-char remark

    Show marketing remark (234 chars)

    Duplex - 1st floor unit- 3 bedroom, 1 bath & basement with washer and dryer hookup. 2nd floor unit 2 bedroom 1 bath with washer and dryer hookups in unit and private side entrance . Updates include new flooring and fresh paint.

22. 2000-02-03
    soldstatus $57,000

ⓘ 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: $441 · $37/mo
• Projected year-2 tax: $805 · $67/mo
• Expected delta: +$365/yr (+$30/mo · 82.7%)

ⓘ 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: $12,842
• − Mortgage interest: −$4,201
• − Property taxes: −$441
• − Insurance: −$375
• − Repairs & maintenance: −$1,027
• − Management: −$1,027
• − Depreciation: −$2,182
• Taxable income: $3,589
• Est. tax owed @ 24.0%: −$861
• After-tax cash flow: $3,749/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

+31.6% since first listed

6 events — show timeline

• 2026-04-14 Price Changed $75,000 WCARE
• 2026-03-09 Price Changed $85,000 WCARE
• 2025-12-17 Price Changed $95,000 WCARE
• 2025-11-12 Price Changed $100,000 WCARE
• 2025-10-28 Listed $110,000 WCARE
• 2000-02-03 Sold (Public Records) $57,000 Public Records

Property tax history

-5.0%/yr

Latest (2025): $441 · +0.4% YoY. Source: county tax records.