712 S Elizabeth St · Lima, OH 45804

$95,000

3 bd · 2.0 ba · 2,111 sqft · MultiFamily public records · 185 Days on market

Built 1897 10,018 sqft lot $45/sqft · 67% above area

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Why this score? — see what drove the C+ 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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Charming single-family opportunity in Lima! This spacious 2-story home features 3 bedrooms, 2 bathrooms, and over 2,100 sq. ft. on a generous lot with a full detached garage. Filled with character and potential, it's perfect for investors or buyers looking to add value. Recent updates include roof, mechanicals, electrical, and plumbing.

Key facts

• Plumbing
• Recent updates
• Roof

Tags

• FULL DETACHED GARAGE
• RECENT UPDATES
• ROOF
• MECHANICALS
• ELECTRICAL
• PLUMBING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $95k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $84k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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.
• 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; 2 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $55k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $41k; list at $95k implies a 132% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 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 1897 — 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.12% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.51%
• DSCR: 1.51
• GRM: 7.4

CMA / ARV

• ARV (median comp): $56,890
• List price: $95,000
• Delta: 66.99%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
522-524 E Elm St	0.70mi	4/3.0 (+1)	1,950 (-8%)	22mo	$60,000	$31	28

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: 0.8%
• Equity multiple: 1.03×
• Total profit: $827
• Equity at exit: $14,165

10-year hold

• IRR: 10.4%
• Equity multiple: 1.81×
• Total profit: $21,530
• Equity at exit: $8,214

Cash invested: $26,600 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,064 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$48 /mo · $570/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$223
• Net cashflow: $255

Break-even live

Break-even rent $741

Max offer price $95,000

Occupancy floor 71%

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 Nye St Lima, OH	4.0	2.0	1686	$675	$0.40	43d	1	0.69mi
555 Haller St Lima, OH	3.0	2.0	1953	$1,700	$0.87	43d	1	1.30mi

Listing history 24 events

1. 2026-06-19
   days on market $95,000 Active 185 DOM
2. 2026-06-18
   days on market $95,000 Active 184 DOM
3. 2026-06-17
   days on market $95,000 Active 183 DOM
4. 2026-06-16
   days on market $95,000 Active 182 DOM
5. 2026-06-15
   days on market $95,000 Active 181 DOM
6. 2026-06-14
   days on market $95,000 Active 179 DOM
7. 2026-06-12
   days on market $95,000 Active 178 DOM
8. 2026-06-09
   days on market $95,000 Active 175 DOM
9. 2026-06-08
   days on market $95,000 Active 174 DOM
10. 2026-06-07
    days on market $95,000 Active 173 DOM
11. 2026-06-07
    days on market $95,000 Active 172 DOM
12. 2026-06-04
    days on market $95,000 Active 169 DOM
13. 2026-06-02
    days on market $95,000 Active 168 DOM
14. 2026-06-01
    days on market $95,000 Active 167 DOM
15. 2026-05-31
    days on market $95,000 Active 166 DOM
16. 2026-05-31
    days on market $95,000 Active 165 DOM
17. 2026-05-13
    status Active 338-char remark

    Show marketing remark (338 chars)

    Charming single-family opportunity in Lima! This spacious 2-story home features 3 bedrooms, 2 bathrooms, and over 2,100 sq. ft. on a generous lot with a full detached garage. Filled with character and potential, it's perfect for investors or buyers looking to add value. Recent updates include roof, mechanicals, electrical, and plumbing.

18. 2026-05-13
    price $95,000 338-char remark

    Show marketing remark (338 chars)

    Charming single-family opportunity in Lima! This spacious 2-story home features 3 bedrooms, 2 bathrooms, and over 2,100 sq. ft. on a generous lot with a full detached garage. Filled with character and potential, it's perfect for investors or buyers looking to add value. Recent updates include roof, mechanicals, electrical, and plumbing.

19. 2026-03-31
    price $110,000 338-char remark

    Show marketing remark (338 chars)

    Charming single-family opportunity in Lima! This spacious 2-story home features 3 bedrooms, 2 bathrooms, and over 2,100 sq. ft. on a generous lot with a full detached garage. Filled with character and potential, it's perfect for investors or buyers looking to add value. Recent updates include roof, mechanicals, electrical, and plumbing.

20. 2026-02-11
    price $115,000 338-char remark

    Show marketing remark (338 chars)

    Charming single-family opportunity in Lima! This spacious 2-story home features 3 bedrooms, 2 bathrooms, and over 2,100 sq. ft. on a generous lot with a full detached garage. Filled with character and potential, it's perfect for investors or buyers looking to add value. Recent updates include roof, mechanicals, electrical, and plumbing.

21. 2026-01-23
    price $135,000 338-char remark

    Show marketing remark (338 chars)

    Charming single-family opportunity in Lima! This spacious 2-story home features 3 bedrooms, 2 bathrooms, and over 2,100 sq. ft. on a generous lot with a full detached garage. Filled with character and potential, it's perfect for investors or buyers looking to add value. Recent updates include roof, mechanicals, electrical, and plumbing.

22. 2025-12-12
    listed $150,000 Active 338-char remark

    Show marketing remark (338 chars)

    Charming single-family opportunity in Lima! This spacious 2-story home features 3 bedrooms, 2 bathrooms, and over 2,100 sq. ft. on a generous lot with a full detached garage. Filled with character and potential, it's perfect for investors or buyers looking to add value. Recent updates include roof, mechanicals, electrical, and plumbing.

23. 2025-11-12
    soldstatus $40,900
24. 2013-04-23
    soldstatus $36,900

ⓘ 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: $570 · $48/mo
• Projected year-2 tax: $1,026 · $86/mo
• Expected delta: +$456/yr (+$38/mo · 79.9%)

ⓘ 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 ≥99°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: $12,766
• − Mortgage interest: −$5,321
• − Property taxes: −$570
• − Insurance: −$475
• − Repairs & maintenance: −$1,021
• − Management: −$1,021
• − Depreciation: −$2,764
• Taxable income: $1,593
• Est. tax owed @ 24.0%: −$382
• After-tax cash flow: $2,679/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

+157.5% since first listed

8 events — show timeline

• 2026-05-13 Relisted — WCARE
• 2026-05-13 Price Changed $95,000 WCARE
• 2026-03-31 Price Changed $110,000 WCARE
• 2026-02-11 Price Changed $115,000 WCARE
• 2026-01-23 Price Changed $135,000 WCARE
• 2025-12-12 Listed $150,000 WCARE
• 2025-11-12 Sold (Public Records) $40,900 Public Records
• 2013-04-23 Sold (Public Records) $36,900 Public Records

Property tax history

+6.3%/yr

Latest (2025): $570 · +0.3% YoY. Source: county tax records.