916 Franklin St · Sandusky, OH 44870

$89,999

2 bd · 1.0 ba · 810 sqft · SingleFamily public records · 40 Days on market

Built 1930 Est $86k · at est.

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +5.3/15.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor Special! This 2 bed 1 Bath Property is in a great location for a starter home, rental or investment. Property is being SOLD AS IS. The Property will need cleaned out from previous owner. It is up to buyer and buyers agent to confirm all details.

Key facts

• Off street parking
• Privacy fence
• Completely fenced in

Tags

• COMPLETELY FENCED IN
• PRIVACY FENCE
• OFF STREET PARKING
• QUIET NEIGHBORHOOD
• MOVE IN READY
• APPLIANCES WILL BE LEFT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.7% vs local median 5.4% in Sandusky — 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 83/100 on livability (#63 in OH, #929 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D-, employment F.
• Sandusky City (town): math 24% / reading 37% proficiency, ranked #583 of 656 in OH (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 210 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 128 units permitted in Erie County in 2024 (5 in 5+ unit buildings).
• This rent runs 31% of the median local income ($62k/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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Erie County population projected at -15% 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 $25k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $33k; list at $90k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,299 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1930 — 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 D 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: 1.77% ✓
• Cap rate: 15.75%
• Cash-on-cash: 33.76%
• DSCR: 2.50
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $85,860
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
816 Perry St	0.18mi	2/1.0	884 (+9%)	10mo	$88,100	$100	68
404 Reese St	0.06mi	3/1.0 (+1)	900 (+11%)	7mo	$101,000	$112	67
518 Reese St	0.13mi	2/1.0	850 (+5%)	22mo	$80,000	$94	67
108 Townsend St	0.31mi	2/1.0	800 (-1%)	24mo	$85,000	$106	64
910 Ogontz St	0.41mi	2/1.0	880 (+9%)	7mo	$126,000	$143	61
302 Hendry St	0.49mi	2/1.0	780 (-4%)	13mo	$28,000	$36	60
906 Maple St	0.63mi	2/1.0	840 (+4%)	11mo	$122,000	$145	55
226 E Monroe St	0.20mi	3/1.0 (+1)	900 (+11%)	15mo	$88,000	$98	54
1014 Fourth St St	0.34mi	3/1.0 (+1)	924 (+14%)	2mo	$120,000	$130	54
719 Ogontz St	0.43mi	2/1.0	920 (+14%)	4mo	$129,900	$141	54
1524 Brown St	0.69mi	3/1.0 (+1)	927 (+14%)	10mo	$25,000	$27	30

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: 29.1%
• Equity multiple: 2.21×
• Total profit: $30,554
• Equity at exit: $13,419

10-year hold

• IRR: 36.4%
• Equity multiple: 4.36×
• Total profit: $84,671
• Equity at exit: $7,781

Cash invested: $25,200 (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 44870

• Active inventory: 210
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,593 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$40 /mo · $475/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $709

Break-even live

Break-even rent $695

Max offer price $89,999

Occupancy floor 50%

Sensitivity live

Price	-10% $760	-5% $735	+0% $709	+5% $684	+10% $658
Rent	-10% $583	-5% $646	+0% $709	+5% $772	+10% $835
Rate	-1.0pp $754	-0.5pp $732	base $709	+0.5pp $686	+1.0pp $662

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Perry St Sandusky, OH	1.0	1.0	750	$995	$1.33	45d	1	0.50mi
156 E Market St Sandusky, OH	1.0–2.0	1.0–2.5	1266	$3,539	$2.79	45d	5	0.62mi
1227 Avondale St Sandusky, OH	1.0	1.0	670	$1,045	$1.56	45d	1	0.81mi

Listing history 21 events

1. 2026-06-21
   days on market $89,999 Active 40 DOM
2. 2026-06-19
   days on market $89,999 Active 38 DOM
3. 2026-06-18
   days on market $89,999 Active 37 DOM
4. 2026-06-17
   days on market $89,999 Active 36 DOM
5. 2026-06-16
   days on market $89,999 Active 35 DOM
6. 2026-06-15
   days on market $89,999 Active 34 DOM
7. 2026-06-14
   days on market $89,999 Active 32 DOM
8. 2026-06-12
   days on market $89,999 Active 31 DOM
9. 2026-06-09
   days on market $89,999 Active 28 DOM
10. 2026-06-08
    days on market $89,999 Active 27 DOM
11. 2026-06-07
    days on market $89,999 Active 26 DOM
12. 2026-06-03
    days on market $89,999 Active 22 DOM
13. 2026-06-02
    days on market $89,999 Active 21 DOM
14. 2026-06-01
    days on market $89,999 Active 20 DOM
15. 2026-05-31
    days on market $89,999 Active 19 DOM
16. 2026-05-30
    days on market $89,999 Active 18 DOM
17. 2026-05-12
    listed $89,999 Active 750-char remark
18. 2024-06-17
    soldstatus $33,000 Closed 254-char remark

    Show marketing remark (254 chars)

    Investor Special! This 2 bed 1 Bath Property is in a great location for a starter home, rental or investment. Property is being SOLD AS IS. The Property will need cleaned out from previous owner. It is up to buyer and buyers agent to confirm all details.

19. 2024-06-07
    status Pending 254-char remark

    Show marketing remark (254 chars)

    Investor Special! This 2 bed 1 Bath Property is in a great location for a starter home, rental or investment. Property is being SOLD AS IS. The Property will need cleaned out from previous owner. It is up to buyer and buyers agent to confirm all details.

20. 2024-06-03
    listed $39,999 Active 254-char remark

    Show marketing remark (254 chars)

    Investor Special! This 2 bed 1 Bath Property is in a great location for a starter home, rental or investment. Property is being SOLD AS IS. The Property will need cleaned out from previous owner. It is up to buyer and buyers agent to confirm all details.

21. 1989-10-06
    soldstatus $7,000

ⓘ 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: $475 · $40/mo
• Projected year-2 tax: $939 · $78/mo
• Expected delta: +$465/yr (+$39/mo · 97.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥94°F today · 16 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: $19,110
• − Mortgage interest: −$5,041
• − Property taxes: −$475
• − Insurance: −$450
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$2,618
• Taxable income: $7,468
• Est. tax owed @ 24.0%: −$1,792
• After-tax cash flow: $6,716/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: Sandusky City
• NCES district ID: 3904474
• Math proficiency: 24% ▼ -17.00%
• Reading proficiency: 37% ▼ -9.00%
• Median HH income: $34,583
• Composite: 25.1/100
• National rank: #7532
• State rank: #583 of 656 in OH

Livability — Sandusky

• Score: 83/100
• State rank: #63
• US rank: #929

Category grades

Amenities B Commute A+ Cost of living A+ Crime D- Employment F Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sandusky, OH
• County: Erie County · 39,883 people
• City population: 39,883
• Metro: Sandusky, OH
• Population (ZIP): 39,883
• Household income: $62,082
• Rent vs Own: 39.1% rent · 60.9% own
• Severe rent burden: 1602.0

Population outlook (Erie County) Hauer SSP2

• Today (2025): 73,204 people
• By 2030: 71,341 · -2.5%
• By 2040: 66,771 · -8.8%
• By 2050: 62,512 · -14.6%
• By 2075: 56,154 · -23.3%
• By 2100: 49,045 · -33.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 15% Two or more races 8% Hispanic / Latino 5%
• Common ancestry: Romanian 3% Slovak 2% Subsaharan African 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Erie

• 2024 margin: R (+14.1) · D 42.5% · R 56.6%
• 2008→2024 swing: -28.0pp toward R · 2008: 13.9pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+11.6 2016: R+9.8 2012: D+11.3 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.99%
• Current HPI: 209.6383
• Rent YoY: —
• Metro: Sandusky, 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

+1185.7% since first listed

5 events — show timeline

• 2026-05-12 Listed $89,999 FSBO.com
• 2024-06-17 Sold (MLS) $33,000 FAOR
• 2024-06-07 Pending — FAOR
• 2024-06-03 Listed $39,999 FAOR
• 1989-10-06 Sold (Public Records) $7,000 Public Records

Property tax history

+16.6%/yr

Latest (2025): $475 · -5.6% YoY. Source: county tax records.