720 N West St · Lima, OH 45801

$99,000

3 bd · 2.0 ba · 1,496 sqft · SingleFamily public records · 36 Days on market

Built 1920 $66/sqft · 11% above area Est $89k · 11% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• ARV discount +2.6/15.0
• 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

3 Bedroom/2 Bath North-end home with both full baths newly updated. Features a large updated Eat-in-Kitchen. Original hardwood floors throughout. First floor Laundry Room. New roof 2021, updated mechanicals, replacement windows and Vinyl Siding. Move-in ready for the First-time home buyer or Investor looking for an updated property.

Key facts

• Off-street parking
• Backyard space
• Built 1920

Tags

• OFF-STREET PARKING
• BACKYARD SPACE

Property features AI

Finance

• Other: Listed by Howard Hanna - Sidney

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding; Other foundation
• Exterior features: Residential zoning

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: Total rooms: 8
• Flooring: Hardwood
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Range; Refrigerator; Water heater; Hardwood flooring; Full unfinished concrete basement
• Laundry & utility: Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 7.4% 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: 74 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 35% 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 $684 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y ago; this cycle's ask has dropped $16k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.52% ✓
• Cap rate: 12.85%
• Cash-on-cash: 23.42%
• DSCR: 2.04
• GRM: 5.5

CMA / ARV

• ARV (median comp): $89,299
• List price: $99,000
• Delta: 10.86%
• 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
720 N West St	0.00mi	3/2.0	1,496 (0%)	0mo	$90,000	$60	100
416 Hazel Ave	0.21mi	3/2.0	1,494 (-0%)	2mo	$158,000	$106	89
222 W Grand Ave	0.04mi	2/1.0 (-1)	1,440 (-4%)	7mo	$45,000	$31	77
635 W Ashton Ave	0.44mi	3/2.0	1,485 (-1%)	2mo	$188,000	$127	76
606 N West St	0.24mi	3/1.0	1,391 (-7%)	5mo	$82,400	$59	69
735 N Main St	0.24mi	3/1.0	1,638 (+10%)	6mo	$161,000	$98	64
1200 N Main St	0.56mi	3/2.0	1,352 (-10%)	0mo	$114,900	$85	57
765 W O'connor Ave	0.63mi	3/2.0	1,401 (-6%)	7mo	$160,000	$114	54
439 E Mckibben St	0.70mi	4/2.0 (+1)	1,520 (+2%)	7mo	$143,500	$94	54
622 N Jefferson St	0.59mi	3/2.0	1,292 (-14%)	4mo	$115,000	$89	46
676 Cortlandt Ave	0.61mi	2/2.0 (-1)	1,321 (-12%)	6mo	$142,000	$107	42
824 Rice Ave	0.70mi	4/2.0 (+1)	1,667 (+11%)	4mo	$28,000	$17	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: 16.5%
• Equity multiple: 1.66×
• Total profit: $18,419
• Equity at exit: $14,761

10-year hold

• IRR: 25.1%
• Equity multiple: 3.18×
• Total profit: $60,413
• Equity at exit: $8,560

Cash invested: $27,720 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,503 high
• Mortgage (P&I): −$519
• Tax from tax record: −$86 /mo · $1,033/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $541

Break-even live

Break-even rent $818

Max offer price $99,000

Occupancy floor 59%

Sensitivity live

Price	-10% $597	-5% $569	+0% $541	+5% $513	+10% $485
Rent	-10% $422	-5% $482	+0% $541	+5% $600	+10% $660
Rate	-1.0pp $591	-0.5pp $566	base $541	+0.5pp $515	+1.0pp $489

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: $24,750
• Closing costs: $2,970
• 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	46d	1	0.27mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	46d	1	0.68mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$1,413	$1.28	46d	9	0.82mi
545 W Market St Unit 340 1/2 Mcpheron Lima, OH	2.0	1.0	900	$800	$0.89	46d	1	0.88mi
228 Nye St Lima, OH	4.0	2.0	1686	$675	$0.40	46d	1	1.05mi
138 Harrison Ave Lima, OH	3.0	1.0	1152	$975	$0.85	46d	1	1.19mi
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	46d	1	1.26mi
1436 W High St Lima, OH	2.0	1.0	1205	$895	$0.74	46d	1	1.47mi

Listing history 17 events

1. 2026-05-13
   price $99,000 949-char remark
2. 2026-04-20
   listed $115,000 Active 949-char remark
3. 2025-10-14
   price $71,500 334-char remark

   Show marketing remark (334 chars)

   3 Bedroom/2 Bath North-end home with both full baths newly updated. Features a large updated Eat-in-Kitchen. Original hardwood floors throughout. First floor Laundry Room. New roof 2021, updated mechanicals, replacement windows and Vinyl Siding. Move-in ready for the First-time home buyer or Investor looking for an updated property.

4. 2022-02-11
   soldstatus $71,500
5. 2022-02-07
   soldstatus $71,500 Closed 334-char remark

   Show marketing remark (334 chars)

   3 Bedroom/2 Bath North-end home with both full baths newly updated. Features a large updated Eat-in-Kitchen. Original hardwood floors throughout. First floor Laundry Room. New roof 2021, updated mechanicals, replacement windows and Vinyl Siding. Move-in ready for the First-time home buyer or Investor looking for an updated property.

6. 2022-02-07
   soldstatus $71,500

   Show marketing remark (334 chars)

   3 Bedroom/2 Bath North-end home with both full baths newly updated. Features a large updated Eat-in-Kitchen. Original hardwood floors throughout. First floor Laundry Room. New roof 2021, updated mechanicals, replacement windows and Vinyl Siding. Move-in ready for the First-time home buyer or Investor looking for an updated property.

7. 2022-01-14
   status Pending 334-char remark

   Show marketing remark (334 chars)

   3 Bedroom/2 Bath North-end home with both full baths newly updated. Features a large updated Eat-in-Kitchen. Original hardwood floors throughout. First floor Laundry Room. New roof 2021, updated mechanicals, replacement windows and Vinyl Siding. Move-in ready for the First-time home buyer or Investor looking for an updated property.

8. 2022-01-03
   historical Contingent 334-char remark

   Show marketing remark (334 chars)

   3 Bedroom/2 Bath North-end home with both full baths newly updated. Features a large updated Eat-in-Kitchen. Original hardwood floors throughout. First floor Laundry Room. New roof 2021, updated mechanicals, replacement windows and Vinyl Siding. Move-in ready for the First-time home buyer or Investor looking for an updated property.

9. 2021-11-27
   listed $76,500 Active 334-char remark

   Show marketing remark (334 chars)

   3 Bedroom/2 Bath North-end home with both full baths newly updated. Features a large updated Eat-in-Kitchen. Original hardwood floors throughout. First floor Laundry Room. New roof 2021, updated mechanicals, replacement windows and Vinyl Siding. Move-in ready for the First-time home buyer or Investor looking for an updated property.

10. 2021-11-22
    historical $76,500 334-char remark

    Show marketing remark (334 chars)

    3 Bedroom/2 Bath North-end home with both full baths newly updated. Features a large updated Eat-in-Kitchen. Original hardwood floors throughout. First floor Laundry Room. New roof 2021, updated mechanicals, replacement windows and Vinyl Siding. Move-in ready for the First-time home buyer or Investor looking for an updated property.

11. 2021-11-22
    listed $76,500

    Show marketing remark (334 chars)

    3 Bedroom/2 Bath North-end home with both full baths newly updated. Features a large updated Eat-in-Kitchen. Original hardwood floors throughout. First floor Laundry Room. New roof 2021, updated mechanicals, replacement windows and Vinyl Siding. Move-in ready for the First-time home buyer or Investor looking for an updated property.

12. 2021-07-06
    soldstatus $116,000
13. 2021-03-31
    listed $99,900
14. 2018-07-12
    soldstatus $21,500
15. 2017-11-17
    listed $26,000
16. 2015-11-23
    listed $42,100
17. 2015-01-17
    listed $29,995

ⓘ 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: $1,033 · $86/mo
• Projected year-2 tax: $1,289 · $107/mo
• Expected delta: +$256/yr (+$21/mo · 24.7%)

ⓘ 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: $18,040
• − Mortgage interest: −$5,546
• − Property taxes: −$1,033
• − Insurance: −$495
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$2,880
• Taxable income: $5,199
• Est. tax owed @ 24.0%: −$1,248
• After-tax cash flow: $5,245/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

+200.1% since first listed

19 events — show timeline

• 2026-06-10 Sold (MLS) $90,000 WCARE
• 2026-05-27 Pending — WCARE
• 2026-05-13 Price Changed $99,000 WCARE
• 2026-04-20 Listed $115,000 WCARE
• 2025-10-14 Price Changed $71,500 NORIS
• 2022-02-11 Sold (Public Records) $71,500 Public Records
• 2022-02-07 Sold (MLS) $71,500 WCARE
• 2022-02-07 Sold (MLS) $71,500 NORIS
• 2022-01-14 Pending — NORIS
• 2022-01-03 Contingent — NORIS
• 2021-11-27 Listed $76,500 NORIS
• 2021-11-22 Coming Soon $76,500 NORIS
• 2021-11-22 Listed $76,500 WCARE
• 2021-07-06 Sold (MLS) $116,000 WCARE
• 2021-03-31 Listed $99,900 WCARE
• 2018-07-12 Sold (MLS) $21,500 WCARE
• 2017-11-17 Listed $26,000 WCARE
• 2015-11-23 Listed $42,100 WCARE
• 2015-01-17 Listed $29,995 WCARE

Property tax history

+12.6%/yr

Latest (2025): $1,033 · +0.3% YoY. Source: county tax records.