1029 King St · Sandusky, OH 44870

$119,000

2 bd · 1.0 ba · 710 sqft · SingleFamily public records · 3 Days on market

Built 1940 6,468 sqft lot Est $101k · 18% 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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +6.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Inviting one-story home offering comfort, convenience, and a fantastic location with immediate possession available! Enjoy a private fenced backyard complete with a deck, perfect for relaxing or entertaining. The detached garage and additional off-street parking provide plenty of space for vehicles and storage. All appliances convey, including the washer and dryer, making this home truly move-in ready. Professionally installed LeafFilter gutter guards were added to both the house and garage in 2025 and include a transferable lifetime warranty for added peace of mind. Ideally located just a few blocks from Lake Erie and a short distance to marinas, downtown Sandusky, restaurants, shopping, and waterfront attractions. A wonderful opportunity to enjoy all that Sandusky living has to offer!Seller requests highest and best offers by Monday, June 22, 2026, at 5:00 PM. Seller reserves the right to accept an offer at any time prior to the stated deadline.

Key facts

• Close to lake erie
• Off-street parking
• Detached garage

Tags

• PRIVATE FENCED BACKYARD
• DETACHED GARAGE
• OFF-STREET PARKING
• LEAFFILTER GUTTER GUARDS
• CLOSE TO LAKE ERIE
• SHORT DISTANCE TO MARINAS

Property features AI

Exterior

• Parking: 1-car garage with garage door opener; Additional parking with alley access
• Utilities: Public water; Public sewer
• Home design: Single-story home; Updated / remodeled condition
• Construction: Vinyl siding; Asphalt roof; Built from public records
• Exterior features: Private yard; Deck; Full privacy wood fencing

Interior

• Kitchen: Dishwasher; Range; Refrigerator; Eat-in kitchen layout
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Electric baseboard heating; Ceiling fans; Window cooling units
• Interior features: Ceiling fan(s); Eat-in kitchen; Crawl space basement
• Laundry & utility: Main-level laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $350 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Cap rate 9.8% 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: 209 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 128 units permitted in Erie County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k 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 $33k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 8y 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 $60k; list at $119k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.15% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.62%
• DSCR: 1.56
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $100,820
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1719 Sandusky St	0.41mi	2/1.0	720 (+1%)	2mo	$75,000	$104	77
2141 Wilbert St	0.73mi	2/1.0	768 (+8%)	10mo	$149,900	$195	44
1510 W Madison St	0.51mi	2/1.0	812 (+14%)	23mo	$115,000	$142	33
2137 Wilson St. St	0.71mi	2/1.0	816 (+15%)	19mo	$114,500	$140	26

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: 2.3%
• Equity multiple: 1.09×
• Total profit: $3,004
• Equity at exit: $17,743

10-year hold

• IRR: 11.9%
• Equity multiple: 1.94×
• Total profit: $31,215
• Equity at exit: $10,289

Cash invested: $33,320 (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: 209
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,369 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$58 /mo · $690/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $350

Break-even live

Break-even rent $926

Max offer price $119,000

Occupancy floor 69%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
156 E Market St Sandusky, OH	1.0–2.0	1.0–2.5	1266	$3,539	$2.79	44d	5	1.36mi

Listing history 4 events

1. 2026-06-19
   days on market $119,000 Active 3 DOM
2. 2026-06-18
   days on market $119,000 Active 2 DOM
3. 2026-06-17
   remarks 699-char remark
4. 2026-06-17
   listed $119,000 Active 1 DOM

ⓘ 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: $690 · $58/mo
• Projected year-2 tax: $1,273 · $106/mo
• Expected delta: +$583/yr (+$49/mo · 84.5%)

ⓘ 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 ≥96°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: $16,430
• − Mortgage interest: −$6,666
• − Property taxes: −$690
• − Insurance: −$595
• − Repairs & maintenance: −$1,314
• − Management: −$1,314
• − Depreciation: −$3,462
• Taxable income: $2,388
• Est. tax owed @ 24.0%: −$573
• After-tax cash flow: $3,633/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

+357.7% since first listed

10 events — show timeline

• 2026-06-16 Listed $119,000 FAOR
• 2026-06-16 Listed $119,000 MLSNOW
• 2018-07-19 Sold (Public Records) $59,900 Public Records
• 2018-07-19 Sold (MLS) $59,900 FAOR
• 2018-06-17 Listed $59,900 FAOR
• 2008-05-16 Sold (Public Records) $63,000 Public Records
• 2002-03-27 Sold (Public Records) $60,000 Public Records
• 1994-02-17 Sold (Public Records) $45,000 Public Records
• 1991-07-31 Sold (Public Records) $37,500 Public Records
• 1989-11-03 Sold (Public Records) $26,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $690 · -3.1% YoY. Source: county tax records.