854 W Wayne St · Lima, OH 45801

$99,000

3 bd · 2.0 ba · 1,409 sqft · SingleFamily public records · 53 Days on market

Built 1914 $70/sqft · 19% above area Est $84k · 19% 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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +3.2/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Looking for a solid addition to your portfolio or your next flip project? This 1914-built traditional two-story home in Lima offers the perfect 'bones' and the most desirable rental configuration: 3 Bedrooms and 2 Full Bathrooms. At 1,409 square feet, this property provides a substantial footprint that is easy to manage but large enough to command top-tier market rents or a strong resale price. This home features low-maintenance vinyl siding, allowing you to focus your renovation budget where it matters most--the interior. Investment Highlights: The Layout: A rare 3-bedroom, 2-full bath setup. Having that second bathroom is a significant competitive advantage in the Lima rental market. T

Key facts

• 2 parking spots
• Built 1914
• Listed 53 days

Property features AI

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Residential zoning
• Construction: Aluminum siding; Block foundation (see remarks); Has basement (unfinished)
• Exterior features: Porch; Fenced yard

Interior

• Kitchen: Range (stove)
• Bedrooms: Total rooms: 7
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Gas water heater; Range (stove); Porch; Fenced yard; Has basement (unfinished, block)
• Laundry & utility: Gas 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 $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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: 74 active listings in the ZIP; 9 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 31% 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 ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $50k; list at $99k implies a 98% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — 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 53 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 1914 — 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: 1.34% ✓
• Cap rate: 11.65%
• Cash-on-cash: 19.14%
• DSCR: 1.85
• GRM: 6.2

CMA / ARV

• ARV (median comp): $83,506
• List price: $99,000
• Delta: 18.55%
• 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
974 Richie Ave	0.23mi	3/1.5	1,464 (+4%)	2mo	$175,000	$120	79
956 Rice Ave	0.31mi	4/1.5 (+1)	1,463 (+4%)	1mo	$107,500	$73	71
1150 Brice Ave	0.42mi	4/2.0 (+1)	1,468 (+4%)	1mo	$114,900	$78	68
210 S Baxter St	0.43mi	4/2.0 (+1)	1,472 (+4%)	2mo	$38,000	$26	66
1015 Faurot Ave	0.58mi	3/1.5	1,456 (+3%)	1mo	$105,500	$72	64
416 Hazel Ave	0.53mi	3/2.0	1,494 (+6%)	1mo	$158,000	$106	64
606 N West St	0.61mi	3/1.0	1,391 (-1%)	5mo	$82,400	$59	61
419 S Collett St	0.62mi	3/1.5	1,440 (+2%)	5mo	$80,000	$56	61
631 Hazel Ave	0.33mi	3/1.0	1,248 (-11%)	2mo	$137,000	$110	60
1000 W Elm St	0.57mi	3/2.0	1,296 (-8%)	4mo	$133,000	$103	57
720 N West St	0.75mi	3/2.0	1,496 (+6%)	0mo	$90,000	$60	55
304 Garfield Ave	0.53mi	2/1.0 (-1)	1,273 (-10%)	4mo	$55,500	$44	47

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: 11.0%
• Equity multiple: 1.44×
• Total profit: $12,096
• Equity at exit: $14,761

10-year hold

• IRR: 20.0%
• Equity multiple: 2.68×
• Total profit: $46,689
• 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: 6.2×

Monthly cashflow live

• Estimated rent: $1,328 high
• Mortgage (P&I): −$519
• Tax from tax record: −$47 /mo · $558/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $442

Break-even live

Break-even rent $768

Max offer price $99,000

Occupancy floor 62%

Sensitivity live

Price	-10% $498	-5% $470	+0% $442	+5% $414	+10% $386
Rent	-10% $337	-5% $390	+0% $442	+5% $495	+10% $547
Rate	-1.0pp $492	-0.5pp $467	base $442	+0.5pp $417	+1.0pp $390

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 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 N Baxter St Lima, OH	3.0	2.0	1386	$1,200	$0.87	44d	1	0.14mi
545 W Market St Unit 340 1/2 Mcpheron Lima, OH	2.0	1.0	900	$800	$0.89	44d	1	0.46mi
228 Nye St Lima, OH	4.0	2.0	1686	$675	$0.40	44d	1	0.48mi
405 N Kenilworth Ave Lima, OH	3.0	1.0	1352	$1,795	$1.33	44d	1	0.56mi
1436 W High St Lima, OH	2.0	1.0	1205	$895	$0.74	44d	1	0.72mi
43 Town Sq Lima, OH	2.0–3.0	1.0–2.0	1100	$1,413	$1.28	44d	9	0.75mi
330 W Ashton Ave Lima, OH	3.0	1.0	1288	$2,000	$1.55	44d	1	0.95mi
138 Harrison Ave Lima, OH	3.0	1.0	1152	$975	$0.85	44d	1	1.35mi
608 S Primrose Pl Lima, OH	3.0	2.0	1200	$2,500	$2.08	44d	1	1.47mi

Listing history 20 events

1. 2026-06-19
   days on market $99,000 Active 53 DOM
2. 2026-06-18
   days on market $99,000 Active 52 DOM
3. 2026-06-17
   days on market $99,000 Active 51 DOM
4. 2026-06-16
   days on market $99,000 Active 50 DOM
5. 2026-06-15
   days on market $99,000 Active 49 DOM
6. 2026-06-14
   days on market $99,000 Active 47 DOM
7. 2026-06-12
   days on market $99,000 Active 46 DOM
8. 2026-06-09
   days on market $99,000 Active 43 DOM
9. 2026-06-08
   days on market $99,000 Active 42 DOM
10. 2026-06-07
    days on market $99,000 Active 41 DOM
11. 2026-06-07
    days on market $99,000 Active 40 DOM
12. 2026-06-04
    days on market $99,000 Active 37 DOM
13. 2026-06-02
    days on market $99,000 Active 36 DOM
14. 2026-06-01
    days on market $99,000 Active 35 DOM
15. 2026-05-31
    days on market $99,000 Active 34 DOM
16. 2026-05-31
    days on market $99,000 Active 33 DOM
17. 2026-04-27
    listed $115,000 Active 1683-char remark
18. 2026-04-25
    historical $115,000 1683-char remark
19. 2024-04-29
    soldstatus $50,000
20. 2001-02-01
    soldstatus $57,000

ⓘ 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: $558 · $47/mo
• Projected year-2 tax: $1,051 · $88/mo
• Expected delta: +$493/yr (+$41/mo · 88.4%)

ⓘ 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: $15,936
• − Mortgage interest: −$5,546
• − Property taxes: −$558
• − Insurance: −$495
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − Depreciation: −$2,880
• Taxable income: $3,908
• Est. tax owed @ 24.0%: −$938
• After-tax cash flow: $4,369/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

+73.7% since first listed

5 events — show timeline

• 2026-05-27 Price Changed $99,000 WCARE
• 2026-04-27 Listed $115,000 WCARE
• 2026-04-25 Coming Soon $115,000 WCARE
• 2024-04-29 Sold (Public Records) $50,000 Public Records
• 2001-02-01 Sold (Public Records) $57,000 Public Records

Property tax history

-3.4%/yr

Latest (2025): $558 · -6.1% YoY. Source: county tax records.