1160 Richie Ave · Lima, OH 45805

$139,900

4 bd · 1.0 ba · 1,320 sqft · SingleFamily public records · 154 Days on market

Built 1916 7,884 sqft lot $106/sqft · 15% above area Est $122k · 15% 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 +29.8/30.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 1160 Richie Ave. This all brick two story home features a covered front porch and large fenced backyard; 4 bedrooms, 1 bath with large dining room and open kitchen offer generous living space. This property combines historic character with modern updates. Come check it out!

Key facts

• Covered front porch
• Large dining room
• Modern updates

Tags

• COVERED FRONT PORCH
• LARGE DINING ROOM
• OPEN KITCHEN
• HISTORIC CHARACTER
• MODERN UPDATES

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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: 106 active listings in the ZIP; 6 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 32% of the median local income ($66k/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 $967 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 $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y 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.
• Current owner paid $60k; list at $140k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1916 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 154 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 1916 — 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: 1.24% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.78%
• DSCR: 1.70
• GRM: 6.7

CMA / ARV

• ARV (median comp): $122,000
• List price: $139,900
• Delta: 14.67%
• 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
1150 Brice Ave	0.07mi	4/2.0	1,468 (+11%)	1mo	$114,900	$78	73
956 Rice Ave	0.23mi	4/1.5	1,463 (+11%)	1mo	$107,500	$73	68
410 N Glenwood Ave	0.55mi	3/1.0 (-1)	1,306 (-1%)	6mo	$190,000	$145	63
631 Hazel Ave	0.50mi	3/1.0 (-1)	1,248 (-6%)	2mo	$137,000	$110	61
974 Richie Ave	0.25mi	3/1.5 (-1)	1,464 (+11%)	2mo	$175,000	$120	61
621 Fairfield Dr	0.42mi	3/1.5 (-1)	1,254 (-5%)	6mo	$175,000	$140	60
1000 W Elm St	0.62mi	3/2.0 (-1)	1,296 (-2%)	4mo	$133,000	$103	56
1721 Rice Ave	0.72mi	3/1.0 (-1)	1,440 (+9%)	1mo	$174,500	$121	46
1116 Belvidere Ave	0.71mi	3/1.0 (-1)	1,238 (-6%)	7mo	$149,900	$121	46
576 Cortlandt Ave	0.66mi	3/1.0 (-1)	1,218 (-8%)	7mo	$89,000	$73	46
1004 Sherman Ave	0.69mi	3/2.0 (-1)	1,408 (+7%)	4mo	$195,200	$139	44
914 W Murphy St	0.54mi	3/2.0 (-1)	1,144 (-13%)	4mo	$112,000	$98	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: 6.6%
• Equity multiple: 1.26×
• Total profit: $10,098
• Equity at exit: $20,860

10-year hold

• IRR: 15.9%
• Equity multiple: 2.30×
• Total profit: $50,867
• Equity at exit: $12,096

Cash invested: $39,172 (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 45805

• Active inventory: 106
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,733 high
• Mortgage (P&I): −$734
• Tax from tax record: −$62 /mo · $741/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $515

Break-even live

Break-even rent $1,081

Max offer price $139,900

Occupancy floor 65%

Sensitivity live

Price	-10% $594	-5% $555	+0% $515	+5% $476	+10% $436
Rent	-10% $378	-5% $447	+0% $515	+5% $584	+10% $652
Rate	-1.0pp $586	-0.5pp $551	base $515	+0.5pp $479	+1.0pp $442

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	44d	1	0.19mi
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	44d	1	0.56mi
228 Nye St Lima, OH	4.0	2.0	1686	$675	$0.40	44d	1	0.84mi
330 W Ashton Ave Lima, OH	3.0	1.0	1288	$2,000	$1.55	44d	1	1.14mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$1,413	$1.28	44d	9	1.20mi
608 S Primrose Pl Lima, OH	3.0	2.0	1200	$2,500	$2.08	44d	1	1.22mi

Listing history 22 events

1. 2026-06-19
   days on market $139,900 Active 154 DOM
2. 2026-06-18
   days on market $139,900 Active 153 DOM
3. 2026-06-17
   days on market $139,900 Active 152 DOM
4. 2026-06-16
   days on market $139,900 Active 151 DOM
5. 2026-06-15
   days on market $139,900 Active 150 DOM
6. 2026-06-14
   days on market $139,900 Active 148 DOM
7. 2026-06-12
   days on market $139,900 Active 147 DOM
8. 2026-06-09
   days on market $139,900 Active 144 DOM
9. 2026-06-08
   days on market $139,900 Active 143 DOM
10. 2026-06-07
    days on market $139,900 Active 142 DOM
11. 2026-06-07
    days on market $139,900 Active 141 DOM
12. 2026-06-04
    days on market $139,900 Active 138 DOM
13. 2026-06-02
    days on market $139,900 Active 137 DOM
14. 2026-06-01
    days on market $139,900 Active 136 DOM
15. 2026-05-31
    days on market $139,900 Active 135 DOM
16. 2026-05-31
    days on market $139,900 Active 134 DOM
17. 2026-01-16
    listed $139,900 Active 285-char remark

    Show marketing remark (285 chars)

    Welcome to 1160 Richie Ave. This all brick two story home features a covered front porch and large fenced backyard; 4 bedrooms, 1 bath with large dining room and open kitchen offer generous living space. This property combines historic character with modern updates. Come check it out!

18. 2024-10-17
    soldstatus $60,000
19. 2020-03-20
    soldstatus $46,000 389-char remark

    Show marketing remark (389 chars)

    Welcome to 1160 Richie Avenue. This 4 bedroom 1 bath brick home has lots of living space, a large fenced-in backyard, covered porch, three-tiered deck and a storage shed. Some newer windows, roof approximately 5 years old, hot water heater approximately 5 years old, air conditioner approximately 1 year old. A really nice home with a nice price. Call to set up a tour today!, Under 1 Acre

20. 2020-03-20
    soldstatus $46,000

    Show marketing remark (389 chars)

    Welcome to 1160 Richie Avenue. This 4 bedroom 1 bath brick home has lots of living space, a large fenced-in backyard, covered porch, three-tiered deck and a storage shed. Some newer windows, roof approximately 5 years old, hot water heater approximately 5 years old, air conditioner approximately 1 year old. A really nice home with a nice price. Call to set up a tour today!, Under 1 Acre

21. 2019-08-14
    listed $49,000 389-char remark

    Show marketing remark (389 chars)

    Welcome to 1160 Richie Avenue. This 4 bedroom 1 bath brick home has lots of living space, a large fenced-in backyard, covered porch, three-tiered deck and a storage shed. Some newer windows, roof approximately 5 years old, hot water heater approximately 5 years old, air conditioner approximately 1 year old. A really nice home with a nice price. Call to set up a tour today!, Under 1 Acre

22. 2002-12-31
    soldstatus $70,500

ⓘ 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: $741 · $62/mo
• Projected year-2 tax: $1,462 · $122/mo
• Expected delta: +$721/yr (+$60/mo · 97.2%)

ⓘ 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: $20,793
• − Mortgage interest: −$7,837
• − Property taxes: −$741
• − Insurance: −$700
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − Depreciation: −$4,070
• Taxable income: $4,119
• Est. tax owed @ 24.0%: −$989
• After-tax cash flow: $5,193/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): 24,746
• Household income: $65,954
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 8.0

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 (74%)
• Race & ethnicity: White 74% Black 15% Two or more races 6% Hispanic / Latino 4% Asian 1%
• Common ancestry: Italian 2% Slovak 2% Romanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 1% Vietnamese 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: ▼ -156.78%
• Current HPI: 210.6397
• 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

+98.4% since first listed

6 events — show timeline

• 2026-01-16 Listed $139,900 WCARE
• 2024-10-17 Sold (Public Records) $60,000 Public Records
• 2020-03-20 Sold (Public Records) $46,000 Public Records
• 2020-03-20 Sold (MLS) $46,000 WCARE
• 2019-08-14 Listed $49,000 WCARE
• 2002-12-31 Sold (Public Records) $70,500 Public Records

Property tax history

-4.0%/yr

Latest (2025): $741 · +0.2% YoY. Source: county tax records.