532 E Adams St · Sandusky, OH 44870

$89,000

2 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 4 Days on market

Built 1923 2,178 sqft lot Est $161k · 45% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Charming 2-bedroom home ideally located within walking distance of both downtown Sandusky and beautiful Lake Erie! Step outside to a quaint private courtyard, offering the perfect spot to unwind, entertain guests, or enjoy your morning coffee. Recent updates include:✅ New Roof (2023)✅ Replacement Windows✅ Durable Vinyl Flooring ThroughoutWhether you're looking for a primary residence, weekend getaway, or investment opportunity, this home offers an unbeatable location and low-maintenance living close to everything Sandusky has to offer. Don't miss your opportunity to own a charming home in one of the area's most desirable locations!

Key facts

• Vinyl flooring
• Private courtyard
• New roof

Tags

• PRIVATE COURTYARD
• NEW ROOF
• REPLACEMENT WINDOWS
• VINYL FLOORING

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; Located in the Perry subdivision
• Construction: Aluminum siding; Crawl space foundation
• Exterior features: Asphalt roof

Interior

• Kitchen: Range; Refrigerator; Dishwasher not listed
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating
• Interior features: Dryer, Washer, Range, Refrigerator
• Laundry & utility: Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $670 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Cap rate 15.3% 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; 2 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 $615 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

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1923 — 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: 1.74% ✓
• Cap rate: 15.33%
• Cash-on-cash: 32.28%
• DSCR: 2.44
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $160,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
611 Lockwood Ave	0.37mi	2/2.0	1,228 (+2%)	5mo	$155,000	$126	70
1003 5th St	0.57mi	3/1.0 (+1)	1,232 (+3%)	3mo	$165,000	$134	62
1117 Ogontz St	0.66mi	2/1.0	1,148 (-4%)	3mo	$201,000	$175	60
1213 Sycamore	0.25mi	2/1.0	1,021 (-15%)	6mo	$144,000	$141	58
1002 Sycamore Line	0.48mi	3/1.0 (+1)	1,288 (+7%)	3mo	$140,000	$109	58
1117 Buckingham St	0.71mi	3/1.0 (+1)	1,232 (+3%)	1mo	$185,000	$150	56
702 Perry St	0.27mi	2/1.0	1,025 (-15%)	9mo	$90,000	$88	56
616 Mcewen St	0.57mi	3/1.5 (+1)	1,152 (-4%)	8mo	$148,000	$128	53
1311 Franklin St	0.71mi	3/1.0 (+1)	1,159 (-3%)	4mo	$126,900	$109	53
914 Hayes Ave	0.61mi	3/1.0 (+1)	1,320 (+10%)	1mo	$133,000	$101	49
206 Townsend St	0.67mi	2/1.0	1,049 (-13%)	6mo	$148,000	$141	43
1115 Fifth St	0.65mi	3/1.5 (+1)	1,089 (-9%)	5mo	$174,700	$160	43

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: 27.3%
• Equity multiple: 2.13×
• Total profit: $28,254
• Equity at exit: $13,270

10-year hold

• IRR: 34.8%
• Equity multiple: 4.19×
• Total profit: $79,513
• Equity at exit: $7,695

Cash invested: $24,920 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,548 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$48 /mo · $581/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $670

Break-even live

Break-even rent $699

Max offer price $89,000

Occupancy floor 52%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Perry St Sandusky, OH	1.0	1.0	750	$995	$1.33	43d	1	0.08mi
156 E Market St Sandusky, OH	1.0–2.0	1.0–2.5	1266	$3,539	$2.79	43d	5	0.39mi

Listing history 3 events

1. 2026-06-14
   statusdays on market $89,000 Pending 4 DOM
2. 2026-06-12
   remarks 639-char remark
3. 2026-06-12
   listed $89,000 Active 3 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: $581 · $48/mo
• Projected year-2 tax: $985 · $82/mo
• Expected delta: +$404/yr (+$34/mo · 69.4%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 10% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,570
• − Mortgage interest: −$4,985
• − Property taxes: −$581
• − Insurance: −$445
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − Depreciation: −$2,589
• Taxable income: $6,998
• Est. tax owed @ 24.0%: −$1,680
• After-tax cash flow: $6,364/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

1 event — show timeline

• 2026-06-09 Listed $89,000 FAOR

Property tax history

+0.2%/yr

Latest (2025): $581 · -1.0% YoY. Source: county tax records.