Real Estate Investing in Lima, Ohio (45801)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 45801 (Lima, OH)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.4% vacancy may signal weakening demand.
What’s happening in Lima, OH (45801)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 45801 Lima
The 45801 ZIP in Lima, OH is a local-operator market. Outside capital chasing a $143K entry has to pair deep knowledge with the discount.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $143K asset, 45801 is the wrong submarket. If the plan prices in friction, the yield can still work.
Nearby ZIPs in Lima have seen price recovery that 45801 has not matched. Allen County data supports the view that the spread is structural rather than temporary.
The demographic picture in 45801 includes headwinds that any investor should price in. Income distribution skews lower than Lima averages, and tenant stability requires active management.
Experienced landlords with local relationships tend to find 45801 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Lima:
Property Strategy for 45801
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $97,615 | $1,070 | 7.9% | +8.0% | $48,808 |
| 3BR | $148,342 | $1,290 | 6.3% | +8.1% | $49,447 |
| 4BR | $181,419 | $1,440 | 5.7% | +7.8% | $45,355 |
| 5BR | $236,209 | — | — | +7.1% | $47,242 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 45801 Compare?
| Metric | 45801 | Lima | Lima, OH | Ohio |
|---|---|---|---|---|
| Home Value | $143,431 | $136,889 | N/A | $237,530 |
| 5-Year CAGR | 5.5% | 5.2% | N/A | 7.4% |
| Avg Rent | $1,134 | $1,137 | N/A | - |
| Cap Rate | 6.2% | 6.1% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 45801 (Lima, OH). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $143,431 |
| Monthly Rent | $1,134 |
| Price-to-Rent | 10.5:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.5% |
| Cap Rate | 6.2% |
| 5-Year IRR | 11.7% |
📈 Home Appreciation
| 1-Year | +4.6% ▲ |
| 3-Year CAGR | +4.6% ▲ |
| 5-Year CAGR | +5.5% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (6.2%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 45801
Population: 21,431
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 45801
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,790 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How should investors approach Lima, OH?
Investors usually favor careful cash-flow rentals with hands-on management in Lima, OH. With home values at $143K and rents near $1,134/mo, other strategies can work but produce consistent rather than outsized returns.
How strong is tenant demand in Lima, OH?
Expect a solid tenant pool in Lima, OH. The rental market absorbs $1,134/mo rents without meaningful friction.
What is the rental occupancy rate in Lima, OH?
Expect elevated vacancy in Lima, OH. Rents at $1,134/mo are absorbed by the tenant base without meaningful lag.
How landlord-friendly is Lima, OH?
OH law landlord-friendly for landlords, and Lima inherits those rules. Investors should still review local ordinances for rental licensing.
How much rent can I charge in Lima, OH?
Rental rates in Lima, OH average $1,134/mo. Tenant demand and $143K home values make the yield look reasonable by investor standards.
You know 45801 now. You don’t know where it ranks.
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How 45801 ranks in Lima, OH
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