1020 N Mcdonel St · Lima, OH 45801

$135,000

3 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 7 Days on market

Built 1911 10,018 sqft lot Est $174k · 22% 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 +29.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• 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

Move-in ready! This home features a fireplace, hardwood floors, fresh paint, main floor laundry, fenced yard and 2 car detached garage.

Key facts

• Formal dining room
• Arched doorways
• Natural light

Tags

• HARDWOOD FLOORS
• ORIGINAL WOODWORK
• ARCHED DOORWAYS
• NATURAL LIGHT
• FORMAL DINING ROOM
• AMPLE CABINET SPACE

Property features AI

Finance

• Other: Residential property type
• Financial info: Annual tax listed (see broker) — $678

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels
• Construction: Block foundation
• Exterior features: 50 x 200 lot; Lot is approximately 0.23 acres; Residential zoning

Interior

• Bedrooms: 6 total rooms (bedrooms included in total room count)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; No central cooling reported
• Interior features: Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $483 ($6k/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 10.6% 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: 74 active listings in the ZIP; 8 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; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% 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 ~8 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,000

Questions for the listing agent

1. Built in 1911 — 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: 1.23% ✓
• Cap rate: 10.59%
• Cash-on-cash: 15.34%
• DSCR: 1.68
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $173,880
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
136 E O'connor Ave	0.38mi	3/1.0	1,248 (-1%)	1mo	$48,500	$39	80
631 Hazel Ave	0.59mi	3/1.0	1,248 (-1%)	2mo	$137,000	$110	70
1118 N Baxter St	0.35mi	3/1.0	1,152 (-9%)	5mo	$55,000	$48	65
1200 N Main St	0.41mi	3/2.0	1,352 (+7%)	0mo	$114,900	$85	65
1809 N Metcalf St	0.48mi	3/2.5	1,176 (-7%)	0mo	$199,900	$170	60
400 W Northern Ave	0.69mi	3/2.0	1,256 (-0%)	4mo	$161,000	$128	60
1889 N Metcalf St	0.50mi	3/1.5	1,148 (-9%)	3mo	$175,000	$152	58
660 W Lane Ave	0.65mi	4/1.0 (+1)	1,305 (+4%)	2mo	$180,000	$138	57
914 W Murphy St	0.65mi	3/2.0	1,144 (-9%)	4mo	$112,000	$98	47
812 W Ashton Ave W	0.50mi	2/1.0 (-1)	1,084 (-14%)	5mo	$184,000	$170	44
128 E Lane Ave	0.64mi	3/1.0	1,083 (-14%)	4mo	$165,000	$152	43
1004 Sherman Ave	0.71mi	3/2.0	1,408 (+12%)	4mo	$195,200	$139	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: 6.0%
• Equity multiple: 1.23×
• Total profit: $8,854
• Equity at exit: $20,129

10-year hold

• IRR: 15.4%
• Equity multiple: 2.25×
• Total profit: $47,170
• 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: 6.8×

Monthly cashflow live

• Estimated rent: $1,659 high
• Mortgage (P&I): −$708
• Tax from tax record: −$63 /mo · $758/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $483

Break-even live

Break-even rent $1,047

Max offer price $135,000

Occupancy floor 66%

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 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	43d	1	0.06mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	43d	1	0.79mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$1,413	$1.28	43d	9	1.05mi
545 W Market St Unit 340 1/2 Mcpheron Lima, OH	2.0	1.0	900	$800	$0.89	43d	1	1.06mi
228 Nye St Lima, OH	4.0	2.0	1686	$675	$0.40	43d	1	1.22mi
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	43d	1	1.27mi
138 Harrison Ave Lima, OH	3.0	1.0	1152	$975	$0.85	43d	1	1.42mi
1436 W High St Lima, OH	2.0	1.0	1205	$895	$0.74	43d	1	1.49mi

Listing history 7 events

1. 2026-06-09
   status $135,000 Pending 7 DOM
2. 2026-06-08
   days on market $135,000 Active 7 DOM
3. 2026-06-07
   days on market $135,000 Active 6 DOM
4. 2026-06-07
   days on market $135,000 Active 5 DOM
5. 2026-06-04
   days on market $135,000 Active 2 DOM
6. 2026-06-01
   remarks 699-char remark
7. 2026-06-01
   listed $135,000 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: $758 · $63/mo
• Projected year-2 tax: $1,432 · $119/mo
• Expected delta: +$674/yr (+$56/mo · 88.9%)

ⓘ 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: $19,906
• − Mortgage interest: −$7,562
• − Property taxes: −$758
• − Insurance: −$675
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$3,927
• Taxable income: $3,799
• Est. tax owed @ 24.0%: −$912
• After-tax cash flow: $4,886/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

+187.2% since first listed

9 events — show timeline

• 2026-06-01 Listed $135,000 WCARE
• 2023-05-26 Sold (Public Records) $120,000 Public Records
• 2023-05-24 Sold (MLS) $120,000 WCARE
• 2023-05-16 Pending — WCARE
• 2023-04-10 Listed — WCARE
• 2023-03-31 Listed $135,000 WCARE
• 2005-03-04 Sold (Public Records) $85,000 Public Records
• 2000-06-08 Sold (Public Records) $69,000 Public Records
• 1995-05-24 Sold (Public Records) $47,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $758 · +0.4% YoY. Source: county tax records.