2225 N Cable Rd · Lima, OH 45807

$140,000

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 80 Days on market

Built 1960 Fair condition 0.28 ac lot $135/sqft · 21% below area Est $177k · 21% under ↓ 18% since listing

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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 +20.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +6.4/10.0
• Schools +5.9/10.0
• 1% rule +5.0/10.0
• Livability +3.2/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0

Listing remarks

MOTIVATED SELLERS in Elida School District! Located close to shopping and restaurants, this 3-bedroom, 1-bath home has great potential and plenty of space to make it your own. The full basement is sectioned off, offering room for storage, a workshop, or additional living space. With a little elbow grease, this could be a wonderful family home or investment property. Being sold as is, this home is ready for your personal touch! Title is being cleared up/worked on.

Key facts

• 0.28 acre lot
• Garage
• Built 1960

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $177 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 6.5% 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.
• Zoned schools: Elida Elementary (math 73% / reading 61%, grade B+, #456 of 1,584 statewide, top 31%, 1,018 students, 56% FRL); Elida Middle School (math 56% / reading 57%, grade B, #313 of 654 statewide, top 48%, 537 students, 59% FRL); Elida High School (math 47% / reading 62%, grade C-, #303 of 781 statewide, top 42%, 628 students, 42% FRL).
• Market conditions: 112 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($968 loan paydown + $14k appreciation (10.0% local appreciation)).
• Allen County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 80 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Recommended offer $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 80 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 1960 — 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: 1.00% ✓
• Cap rate: 7.81%
• Cash-on-cash: 5.43%
• DSCR: 1.24
• GRM: 8.3

CMA / ARV

• ARV (median comp): $176,719
• List price: $140,000
• Delta: -20.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2251 N Cable Rd	0.07mi	3/2.0	952 (-8%)	21mo	$155,000	$163	61
2275 N Cable Rd #164	0.13mi	2/2.0 (-1)	883 (-15%)	2mo	$110,000	$125	58
2286 N Cole St	1.05mi	3/1.0	1,092 (+5%)	6mo	$205,000	$188	51
1790 Homeward Ave	0.52mi	2/1.0 (-1)	1,160 (+12%)	6mo	$63,000	$54	46
1744 Homeward Ave	0.59mi	3/1.5	1,248 (+20%)	10mo	$198,000	$159	37
2129 Reinell Ave	0.60mi	3/2.5	1,206 (+16%)	6mo	$280,000	$232	36
1679 Rebecca Dr	1.11mi	3/2.0	1,215 (+17%)	2mo	$210,000	$173	35
2238 N Glenwood Ave	0.57mi	3/2.0	1,248 (+20%)	13mo	$210,000	$168	33
1408 W Robb Ave	1.10mi	3/2.0	1,248 (+20%)	10mo	$150,000	$120	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.2%
• Equity multiple: 3.23×
• Total profit: $87,543
• Equity at exit: $126,123

10-year hold

• IRR: 24.6%
• Equity multiple: 7.35×
• Total profit: $248,918
• Equity at exit: $271,989

Cash invested: $39,200 (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: 1 active · 1 under contract
• Months of supply: 6.0 mo (17%/mo absorbed)
• Median asking: $170,000 ($182/sqft)
• Median days on market: 360 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -6.4% vs current asking $/sqft

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

ZIP-level market 45807

• Home prices YoY: 8.5%
• Active inventory: 112
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,406 high
• Mortgage (P&I): −$734
• Tax from tax record: −$141 /mo · $1,692/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $177

Break-even live

Break-even rent $1,182

Max offer price $140,000

Occupancy floor 82%

Sensitivity live

Price	-10% $257	-5% $217	+0% $177	+5% $138	+10% $98
Rent	-10% $66	-5% $122	+0% $177	+5% $233	+10% $288
Rate	-1.0pp $248	-0.5pp $213	base $177	+0.5pp $141	+1.0pp $104

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: $35,000
• Closing costs: $4,200
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2275 N Cable Rd #164 Lima, OH	2.0	2.0	883	$1,300	$1.47	47d	1	0.11mi
1562 Edgewood Dr Lima, OH	3.0	1.5	1290	$1,450	$1.12	12d	1	0.76mi
1562 Edgewood Dr Lima, OH	3.0	1.5	1290	$1,450	$1.12	0d	1	0.76mi
3031 Diller Rd Lima, OH	3.0	2.0	1380	$2,000	$1.45	0d	1	0.91mi
749 Mackenzie Dr Lima, OH	3.0	1.5	1040	$1,300	$1.25	6d	1	1.31mi
725 Mackenzie Dr Lima, OH	3.0	1.5	1040	$1,800	$1.73	16d	1	1.36mi

Listing history 24 events

1. 2026-11-08
   days on market $140,000 Active 80 DOM
2. 2026-11-07
   days on market $140,000 Active 79 DOM
3. 2026-11-06
   days on market $140,000 Active 78 DOM
4. 2026-11-05
   days on market $140,000 Active 77 DOM
5. 2026-11-04
   days on market $140,000 Active 76 DOM
6. 2026-11-02
   days on market $140,000 Active 74 DOM
7. 2026-11-01
   days on market $140,000 Active 73 DOM
8. 2026-10-31
   days on market $140,000 Active 72 DOM
9. 2026-10-30
   days on market $140,000 Active 71 DOM
10. 2026-10-29
    days on market $140,000 Active 70 DOM
11. 2026-10-28
    days on market $140,000 Active 69 DOM
12. 2026-10-27
    days on market $140,000 Active 68 DOM
13. 2026-10-26
    days on market $140,000 Active 67 DOM
14. 2026-10-25
    days on market $140,000 Active 66 DOM
15. 2026-10-24
    days on market $140,000 Active 65 DOM
16. 2026-10-23
    days on market $140,000 Active 64 DOM
17. 2026-10-22
    days on market $140,000 Active 63 DOM
18. 2026-10-21
    days on market $140,000 Active 62 DOM
19. 2026-10-20
    remarks 469-char remark
20. 2026-10-20
    statusdays on market $140,000 Active 61 DOM
21. 2025-12-13
    status Pending
22. 2025-12-08
    price $140,000
23. 2025-10-31
    price $150,000
24. 2025-10-13
    listed $170,000 Active

ⓘ 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: $1,692 · $141/mo
• Projected year-2 tax: $1,938 · $162/mo
• Expected delta: +$246/yr (+$20/mo · 14.5%)

ⓘ 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 4/10 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: $16,874
• − Mortgage interest: −$7,842
• − Property taxes: −$1,692
• − Insurance: −$700
• − Repairs & maintenance: −$1,350
• − Management: −$1,350
• − Depreciation: −$4,073
• Taxable loss: −$133
• Est. tax savings @ 24.0%: +$32
• After-tax cash flow: $2,160/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

Fair 55/100 Moderate rehab Est. rehab $26,000–$46,800 screening

This 3-bedroom home requires moderate repairs and maintenance to improve its curb appeal and interior condition, increasing its resale and rental value.

Components & finishes AI

Roof asphalt shingle · good Flooring carpet

Deferred maintenance Est. $3,000–$12,000 screening

• Minor Roof (roof) — No visible signs of damage or wear
• Minor Windows (windows) — No visible signs of damage or wear
• Minor Electrical (electrical) — No visible signs of damage or wear
• Minor Plumbing (plumbing) — No visible signs of damage or wear
• Minor Exterior (exterior) — No visible signs of damage or wear
• Minor Other — No visible signs of damage or wear

Repairs flagged

• Moderate exterior siding — Light discoloration
• Minor interior walls — Some scuffing

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace carpet — Improves comfort and value ↑
• Both Paint interior walls — Enhances interior appearance and value ↑

ⓘ Rehab cost is a screening estimate — Moderate 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.

D Composite school gradezoned avg 59/100

Zoned Schools

Elementary Elida Elementary B+ OH #456/1,584 Nat'l #4,366/41,679 Middle Elida Middle School B OH #313/654 Nat'l #2,304/14,009 High Elida High School C- OH #303/781 Nat'l #4,461/17,239

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

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

• County: Allen · 100,321 people
• City population: 21,739
• Metro: Lima, OH
• Population (ZIP): 11,631
• Household income: $74,387
• Rent vs Own: 17.2% rent · 82.8% 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 (90%)
• Race & ethnicity: White 90% Black 5% Two or more races 4% Hispanic / Latino 2%
• Languages at home: 98% English-only · Spanish 1%

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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: ▲ 36.64%
• Current HPI: 468.59
• Rent YoY: —
• Metro: —
• 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

Price history

-17.6% since first listed

4 events — show timeline

• 2025-12-13 Pending — WCARE
• 2025-12-08 Price Changed $140,000 WCARE
• 2025-10-31 Price Changed $150,000 WCARE
• 2025-10-13 Listed $170,000 WCARE

Property tax history

+9.9%/yr

Latest (2025): $1,692 · +33.0% YoY. Source: county tax records.