1420 County Road 302 · Bellevue, OH 44811

$125,500

5 bd · 2.0 ba · 3,203 sqft · SingleFamily · 2 Days on market

Built 1900 Fair condition 0.82 ac lot $39/sqft · 76% below area ↓ 19% since listing

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Why this score? — see what drove the D+ 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 +15.1/30.0
• ARV discount +7.5/15.0
• Schools +5.2/10.0
• DSCR +4.6/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This 3,200+ square foot fixer-upper farmhouse is overflowing with potential! The second you pull into the driveway you'll appreciate this home's unique architecture and large three car garage. This home could be used as a single family home or a duplex, with two sides each offering a separate entrance with an interior connection currently conjoining both sides. Each side offers ample living area, tall ceilings, and large bedrooms. You'll love the charm and character throughout the home, including the upstairs windows with distinctive arches above. Large basement offers ample storage space. Sprawling, private backyard with mature landscaping and scenic country views. This could be the perfec

Key facts

• Ample storage space
• Separate entrance
• Distinctive arches

Tags

• UNIQUE ARCHITECTURE
• SEPARATE ENTRANCE
• TALL CEILINGS
• DISTINCTIVE ARCHES
• AMPLE STORAGE SPACE
• PRIVATE BACKYARD

Property features AI

Exterior

• Parking: Detached 3-car garage
• Utilities: Private well water; Septic tank
• Home design: Single-family residential property
• Construction: Aluminum and vinyl siding
• Exterior features: Asphalt and metal roof

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas hot water heating
• Interior features: Partial basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $126k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $42 ($507/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 $115k (8.3% below list).
• Recommended offer: $115k (8.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.2% in Bellevue — 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 77/100 on livability (#181 in OH, #2,807 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Bellevue City (town): math 56% / reading 65% proficiency, ranked #280 of 656 in OH (top 43%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 44 active listings in the ZIP; 23 units permitted in Sandusky County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $868 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Sandusky County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,133 (8.3% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1900 — 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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.92% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.44%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (median comp): $532,375
• List price: $125,500
• Delta: -76.43%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.0%
• Equity multiple: 0.50×
• Total profit: $-17,628
• Equity at exit: $18,712

10-year hold

• IRR: -5.1%
• Equity multiple: 0.66×
• Total profit: $-11,814
• Equity at exit: $10,851

Cash invested: $35,140 (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 44811

• Home prices YoY: -28.7%
• Active inventory: 44
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,151 medium
• Mortgage (P&I): −$658
• Tax est. 1.5%: −$157 /mo · $1,882/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $42

Break-even live

Break-even rent $1,098

Max offer price $125,500

Occupancy floor 91%

Sensitivity live

Price	-10% $129	-5% $86	+0% $42	+5% $-1	+10% $-44
Rent	-10% $-49	-5% $-3	+0% $42	+5% $88	+10% $133
Rate	-1.0pp $105	-0.5pp $74	base $42	+0.5pp $10	+1.0pp $-23

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: $31,375
• Closing costs: $3,765
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on marketlisting id $125,500 Active 2 DOM
2. 2026-06-16
   days on market $125,500 Active 915 DOM
3. 2026-06-15
   days on market $125,500 Active 914 DOM
4. 2026-06-13
   days on market $125,500 Active 912 DOM
5. 2026-06-12
   days on market $125,500 Active 911 DOM
6. 2026-06-09
   days on market $125,500 Active 908 DOM
7. 2026-06-08
   days on market $125,500 Active 907 DOM
8. 2026-06-07
   days on market $125,500 Active 906 DOM
9. 2026-06-07
   days on market $125,500 Active 905 DOM
10. 2026-06-04
    days on market $125,500 Active 902 DOM
11. 2026-06-02
    days on market $125,500 Active 901 DOM
12. 2026-06-01
    days on market $125,500 Active 900 DOM
13. 2026-05-31
    days on market $125,500 Active 899 DOM
14. 2025-08-04
    status Active 975-char remark
15. 2025-08-04
    price $125,500 975-char remark
16. 2025-06-17
    historical Active Under Contract 975-char remark
17. 2023-12-14
    listed $155,900 Active 975-char remark
18. 2023-09-07
    price $155,900
19. 2023-08-23
    price $159,900
20. 2023-08-07
    price $155,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥98°F today · 17 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: $13,816
• − Mortgage interest: −$7,030
• − Property taxes: −$1,882
• − Insurance: −$628
• − Repairs & maintenance: −$1,105
• − Management: −$1,105
• − Depreciation: −$3,651
• Taxable loss: −$1,585
• Est. tax savings @ 24.0%: +$380
• After-tax cash flow: $888/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.

Condition & rehab AI · 13 photos

Fair 45/100 Moderate rehab

This 3,200+ square foot farmhouse requires moderate renovations to improve its condition and increase its resale value.

Repairs flagged

• Major kitchen cabinets — poor condition
• Major bathroom fixtures — poor condition
• Moderate HVAC system — no visible updates

Value-add opportunities

• Resale paint interior walls — enhances curb appeal
• Resale replace carpet — improves living space aesthetics
• Resale repair/replace windows — improves energy efficiency and curb appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · poor condition	Major	$15,000–50,000
bathroom fixtures · poor condition	Major	$15,000–50,000
HVAC system · no visible updates	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$33,000–115,000

Value-add ROI direction

• Resale paint interior walls — enhances curb appeal ↑
• Resale replace carpet — improves living space aesthetics ↑
• Resale repair/replace windows — improves energy efficiency and curb appeal ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Bellevue City
• NCES district ID: 3904359
• Math proficiency: 56% ▼ -18.00%
• Reading proficiency: 65% ▼ -10.00%
• Median HH income: $52,591
• Composite: 51.71/100
• National rank: #1687
• State rank: #280 of 656 in OH

Livability — Bellevue

• Score: 77/100
• State rank: #181
• US rank: #2807

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Seneca · 70,739 people
• Population (ZIP): 12,486
• Household income: $64,453
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 1.6

Population outlook (Sandusky County) Hauer SSP2

• Today (2025): 57,409 people
• By 2030: 55,791 · -2.8%
• By 2040: 51,837 · -9.7%
• By 2050: 47,712 · -16.9%
• By 2075: 39,908 · -30.5%
• By 2100: 33,171 · -42.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 6% Two or more races 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 0%

Political lean MEDSL · Sandusky

• 2024 margin: Solid R (+30.9) · D 34.1% · R 65.0%
• 2008→2024 swing: -35.5pp toward R · 2008: 4.6pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+27.6 2016: R+23.0 2012: D+1.9 2008: D+4.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -83.28%
• Current HPI: 206.4977
• Rent YoY: —
• Metro: —
• 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

-19.5% since first listed

5 events — show timeline

• 2025-08-04 Price Changed $125,500 FAOR
• 2023-12-14 Listed $125,500 FAOR
• 2023-09-07 Price Changed $155,900 FAOR
• 2023-08-23 Price Changed $159,900 FAOR
• 2023-08-07 Price Changed $155,900 FAOR