4387 N West St · Lima, OH 45801

$150,000

3 bd · 1.5 ba · 1,546 sqft · SingleFamily public records · 120 Days on market

Built 1959 0.37 ac lot $97/sqft · 30% below area Est $213k · 30% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +13.6/30.0
• Schools +5.0/10.0
• 1% rule +4.5/10.0
• DSCR +4.1/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

Key facts

• 0.37 acre lot
• 2 garage spots
• Built 1959

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $7 ($86/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (4.7% below list).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.

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.
• Market conditions: 74 active listings in the ZIP; 88 units permitted in Allen County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% 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 $1k 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.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $65k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $68k; list at $150k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1959 — 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: 0.95% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.21%
• DSCR: 1.01
• GRM: 8.7

CMA / ARV

• ARV (median comp): $213,316
• List price: $150,000
• Delta: -29.68%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4050 Brookshore Dr	0.31mi	2/2.0 (-1)	1,665 (+8%)	5mo	$260,000	$156	62
3270 Bonnieview Dr	0.48mi	3/2.0	1,422 (-8%)	4mo	$247,000	$174	59
4372 Ottawa Rd	0.29mi	3/2.0	1,713 (+11%)	13mo	$160,000	$93	56

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: -15.9%
• Equity multiple: 0.43×
• Total profit: $-23,774
• Equity at exit: $22,365

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-19,810
• Equity at exit: $12,969

Cash invested: $42,000 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,430 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$273 /mo · $3,282/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $7

Break-even live

Break-even rent $1,421

Max offer price $150,000

Occupancy floor 94%

Sensitivity live

Price	-10% $92	-5% $50	+0% $7	+5% $-35	+10% $-78
Rent	-10% $-106	-5% $-49	+0% $7	+5% $64	+10% $120
Rate	-1.0pp $83	-0.5pp $45	base $7	+0.5pp $-32	+1.0pp $-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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $150,000 Active 120 DOM
2. 2026-06-18
   days on market $150,000 Active 119 DOM
3. 2026-06-17
   days on market $150,000 Active 118 DOM
4. 2026-06-16
   days on market $150,000 Active 117 DOM
5. 2026-06-16
   pricestatus $150,000 Active 116 DOM
6. 2026-06-15
   days on market $170,000 Contingency - Finance and Inspections 116 DOM
7. 2026-06-14
   days on market $170,000 Contingency - Finance and Inspections 114 DOM
8. 2026-06-12
   days on market $170,000 Contingency - Finance and Inspections 113 DOM
9. 2026-06-08
   days on market $170,000 Contingency - Finance and Inspections 109 DOM
10. 2026-06-07
    days on market $170,000 Contingency - Finance and Inspections 108 DOM
11. 2026-06-05
    days on market $170,000 Contingency - Finance and Inspections 106 DOM
12. 2026-06-04
    days on market $170,000 Contingency - Finance and Inspections 104 DOM
13. 2026-06-02
    days on market $170,000 Contingency - Finance and Inspections 103 DOM
14. 2026-06-01
    status $170,000 Contingency - Finance and Inspections 102 DOM
15. 2026-06-01
    days on market $170,000 Active 102 DOM
16. 2026-05-31
    days on market $170,000 Active 101 DOM
17. 2026-05-31
    days on market $170,000 Active 100 DOM
18. 2026-05-08
    status Active 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

19. 2026-05-08
    status Active 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

20. 2026-04-06
    historical Active Under Contract 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

21. 2026-04-06
    historical Contingency - Finance and Inspections 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

22. 2026-04-02
    status Active 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

23. 2026-04-02
    status Active 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

24. 2026-03-26
    historical Active Under Contract 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

25. 2026-03-26
    historical Contingency - Finance and Inspections 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

26. 2026-03-24
    price $170,000 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

27. 2026-03-24
    price $170,000 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

28. 2026-03-16
    price $200,000 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

29. 2026-03-16
    price $200,000 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

30. 2026-02-19
    listed $215,000 Active 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

31. 2026-02-18
    listed $215,000 Active 522-char remark

    Show marketing remark (522 chars)

    Escape the noise of the city and enjoy peaceful living in this beautiful 3-bedroom, 2-bath ranch-style estate. Situated just outside city limits, this well-maintained home offers the perfect balance of privacy and convenience. Inside, you'll find a spacious layout with comfortable living areas and plenty of natural light. Step outside to a fully fenced yard--ideal for pets, kids, or simply relaxing outdoors. The detached garage provides ample storage and workspace, making this property as practical as it is charming.

32. 1996-06-19
    soldstatus $68,000

ⓘ 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: $3,282 · $273/mo
• Projected year-2 tax: $3,282 · $273/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $17,161
• − Mortgage interest: −$8,402
• − Property taxes: −$3,282
• − Insurance: −$750
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$4,364
• Taxable loss: −$2,382
• Est. tax savings @ 24.0%: +$572
• After-tax cash flow: $658/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: 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

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 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

+150.0% since first listed

15 events — show timeline

• 2026-05-08 Relisted — WCARE
• 2026-05-08 Relisted — WRIST
• 2026-04-06 Contingent — WCARE
• 2026-04-06 Contingent — WRIST
• 2026-04-02 Relisted — WCARE
• 2026-04-02 Relisted — WRIST
• 2026-03-26 Contingent — WCARE
• 2026-03-26 Contingent — WRIST
• 2026-03-24 Price Changed $170,000 WCARE
• 2026-03-24 Price Changed $170,000 WRIST
• 2026-03-16 Price Changed $200,000 WCARE
• 2026-03-16 Price Changed $200,000 WRIST
• 2026-02-19 Listed $215,000 WCARE
• 2026-02-18 Listed $215,000 WRIST
• 1996-06-19 Sold (Public Records) $68,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $3,282 · +9.0% YoY. Source: county tax records.