2-Bedroom Ranch with Large Lot and Expansion Potential
Fixer-Upper Opportunity in Lima: 2-Bedroom Ranch with Large Lot and Expansion Potential
Introduction: A Smart Investment with Room to Grow
If you are searching for an affordable real estate opportunity with strong upside potential, this 2-bedroom, 1-bathroom fixer-upper in Lima is worth serious consideration. Whether you are an investor looking to expand your portfolio, a house flipper seeking your next project, or a buyer ready to customize a home to your liking, this property offers a unique chance to create value.
With a spacious 0.32-acre lot, a detached garage, and the possibility of acquiring an additional 1.81 acres behind the home, this listing goes beyond a typical entry-level property. It provides flexibility, scalability, and long-term potential in a market where affordable properties are increasingly in demand.
This is more than just a fixer-upper—it’s an opportunity to build equity, generate income, and bring your vision to life.
Property Overview: Key Features at a Glance
This single-family ranch-style home offers a simple yet functional layout, ideal for renovation or redevelopment.
- Bedrooms: 2
- Bathrooms: 1 full bathroom
- Living Area: 720 sqft
- Lot Size: 0.32 acres
- Style: Ranch (Single-story)
- Garage: Detached, 1 space
- Year Built: 1920
- Condition: Fixer-upper
- Location: Lima
With a manageable size and straightforward layout, this property is well-suited for both beginner and experienced investors.
Interior Layout: Compact Living with Practical Design
The home features a 720-square-foot layout that maximizes efficiency while providing essential living spaces.
Living Area
The main living area serves as the central hub of the home. With some updates, it can be transformed into a comfortable and inviting space for relaxation and entertainment.
Bedrooms
The property includes two bedrooms, making it ideal for:
- Small families
- Couples
- Rental tenants
- Home office conversion
These rooms can be upgraded with new flooring, paint, and lighting to enhance comfort and appeal.
Bathroom
The single bathroom is functional but may benefit from modernization. Upgrading fixtures, adding new tile, or improving lighting can significantly increase the home’s value.
Kitchen Potential: A Space Ready for Transformation
While specific kitchen details are not listed, this area represents one of the greatest opportunities for improvement.
Renovation Ideas for the Kitchen
- Install modern cabinets and countertops
- Upgrade appliances
- Improve layout and storage
- Add energy-efficient lighting
A well-designed kitchen can dramatically increase both resale value and rental appeal.
Heating, Cooling, and Utilities
The property includes a heating system (unspecified type) but does not currently feature cooling.
Opportunities for Improvement
- Install energy-efficient HVAC system
- Add central air conditioning
- Upgrade insulation for better energy performance
These enhancements can improve comfort and reduce long-term operating costs.
Exterior Features: Space, Flexibility, and Expansion
One of the most appealing aspects of this property is its outdoor space.
Main Lot Highlights
- 0.32 acres of land
- Room for landscaping and outdoor living areas
- Space for expansion or additional structures
Detached Garage
The property includes a one-car detached garage, offering:
- Secure parking
- Storage space
- Workshop potential
Bonus Opportunity: Additional 1.81 Acres Available
A standout feature of this listing is the option to purchase an additional 1.81 acres located behind the property, accessible from 4th Street.
Benefits of Additional Land
- Increased property value
- Development potential
- Opportunity for multi-unit construction (subject to zoning)
- Expanded outdoor or recreational space
This added flexibility makes the property especially attractive for investors and developers.
Location Advantages: Lima Living
Located in Lima, this property offers convenient access to essential services and local amenities.
Nearby Features
- Shopping centers
- Restaurants and dining options
- Schools and community services
- Major roadways and transportation routes
This accessibility enhances both livability and rental potential.
Investment Potential: A Value-Add Opportunity
This property is ideal for investors seeking a project with strong return potential.
Why Investors Should Consider This Property
- Affordable price per square foot
- Opportunity to increase value through renovation
- Demand for small, affordable homes
- Potential for rental income
Investment Strategies
Fix-and-Flip
Renovate the property and sell at a higher market value.
Long-Term Rental
Create consistent income by renting to tenants.
Land Expansion Investment
Purchase additional acreage to increase development opportunities.
Renovation Ideas: Maximizing Property Value
To unlock the full potential of this property, consider the following improvements:
Interior Upgrades
- Fresh paint throughout
- Updated flooring (vinyl, laminate, or hardwood)
- Modern lighting fixtures
Kitchen Improvements
- New cabinets and countertops
- Energy-efficient appliances
- Improved layout
Bathroom Updates
- New vanity and fixtures
- Updated tiles
- Better lighting and ventilation
Exterior Enhancements
- Landscaping and curb appeal improvements
- Garage upgrades
- Outdoor seating or patio area
Strategic renovations can significantly boost both resale and rental value.
Financial Overview: Affordable Entry Point
This property offers a compelling financial profile for budget-conscious buyers and investors.
- Price per square foot: $28
- Tax assessed value: $19,100
- Annual property taxes: Approximately $312
Financial Benefits
- Low acquisition cost
- Manageable property taxes
- High potential return on investment
Market Trends: Growing Demand for Affordable Homes
In today’s real estate market, affordable properties like this are in high demand.
Key Trends
- Increased interest in fixer-uppers
- Demand for entry-level housing
- Rising rental market demand
This property aligns perfectly with these trends, making it a smart investment choice.
Ideal Buyer Profile
This property is best suited for:
Investors
Looking to add value and generate returns.
First-Time Buyers
Seeking an affordable home with customization potential.
Renovators
Interested in transforming a property into a modern living space.
Developers
Exploring opportunities with additional land purchase.
Risks and Considerations
As with any fixer-upper, buyers should be aware of potential challenges.
Key Considerations
- Property requires renovations
- Systems may need upgrades
- Inspections are essential
Proper planning and budgeting are crucial for a successful project.
Lifestyle Potential: Create Your Dream Space
With the right vision, this property can be transformed into a charming and comfortable home.
Possibilities Include
- Cozy starter home
- Rental property
- Customized living space
The flexibility of this property allows you to tailor it to your specific needs.
Final Thoughts: Don’t Miss This Opportunity
This 2-bedroom ranch home in Lima offers a rare combination of affordability, flexibility, and potential. With its large lot, detached garage, and optional additional acreage, it stands out as a unique opportunity in today’s market.
Whether you’re planning to renovate, invest, or expand, this property provides the foundation for success.
Call to Action: Take the Next Step Today
Opportunities like this don’t last long—especially those with strong investment potential and expansion options.
Schedule a showing, explore the possibilities, and take the first step toward turning this fixer-upper into a valuable asset.
Your next successful real estate project starts here.
Listed on Zillow
