603 CR 314 · Bellevue, OH 44811

$177,000

4 bd · 2.0 ba · 2,400 sqft · MultiFamily public records · 102 Days on market

Built 2005 1.06 ac lot $74/sqft · 15% above area Est $154k · 15% over ↓ 10% 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 +22.4/30.0
• DSCR +7.2/10.0
• Schools +5.2/10.0
• 1% rule +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.8/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

EXCELLENT INVESTMENT OPPORTUNITY WITH THIS TURN-KEY DUPLEX LOCATED IN YORK TOWNSHIP! This Duplex was Built in 2005 and Sits on 1.06 Acres of Land. These are Very Nice Units that Offer 1200 sq. ft of Living Space EACH. Each Unit Consists of TWO Bedrooms, Full Bath, Spacious Living Room and Eat-In Kitchen Areas. Plenty of Storage and Closet Space Available for Both Units. A Private Shared Laundry Room Offers a Washer and Dryer Unit that Stay with the Property. Each Unit has Separate Utilities and are Currently Rented at $750 a Month Per Unit. There is also Plenty of Parking for Tenants and Guests. Upstairs Unit will be Vacant to Owner Occupy or to Choose Your OWN Tenant!

Key facts

• Separate utilities
• Plenty of parking
• 1.06 acres of land

Tags

• TURN-KEY DUPLEX
• 1.06 ACRES OF LAND
• PRIVATE SHARED LAUNDRY ROOM
• SEPARATE UTILITIES
• PLENTY OF PARKING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $177k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive. Per door: $147/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (0.1% below list).
• Recommended offer: $161k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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.
• Zoned schools: Bellevue Elementary School (math 66% / reading 63%, grade B, #522 of 1,584 statewide, top 36%, 866 students, 44% FRL); Bellevue Middle School (math 53% / reading 64%, grade B, #287 of 654 statewide, top 45%, 416 students, 37% FRL); Bellevue High School (math 32% / reading 72%, grade D+, #343 of 781 statewide, top 47%, 534 students, 33% FRL).
• Market conditions: 44 active listings in the ZIP; 23 units permitted in Sandusky County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($64k/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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 102 days — a 9% lower offer ($161k) is reasonable based on typical stale-listing flexibility.

Recommended offer $161,070 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.00% ✗
• Cap rate: 8.29%
• Cash-on-cash: 7.14%
• DSCR: 1.32
• GRM: 8.3

CMA / ARV

• ARV (median comp): $153,913
• List price: $177,000
• Delta: 15.00%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.4%
• Equity multiple: 0.80×
• Total profit: $-9,957
• Equity at exit: $26,391

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $15,310
• Equity at exit: $15,304

Cash invested: $49,560 (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: 16.7×

Monthly cashflow live

• Estimated rent: $1,769 medium
• Mortgage (P&I): −$928
• Tax from tax record: −$101 /mo · $1,210/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $295

Break-even live

Break-even rent $1,396

Max offer price $177,000

Occupancy floor 78%

Sensitivity live

Price	-10% $395	-5% $345	+0% $295	+5% $245	+10% $195
Rent	-10% $155	-5% $225	+0% $295	+5% $365	+10% $434
Rate	-1.0pp $384	-0.5pp $340	base $295	+0.5pp $249	+1.0pp $202

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,770
Total (2 units)			$1,769

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: $44,250
• Closing costs: $5,310
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $177,000 Active 102 DOM
2. 2026-06-21
   days on market $177,000 Active 101 DOM
3. 2026-06-18
   days on market $177,000 Active 99 DOM
4. 2026-06-17
   days on market $177,000 Active 98 DOM
5. 2026-06-16
   days on market $177,000 Active 97 DOM
6. 2026-06-15
   days on market $177,000 Active 96 DOM
7. 2026-06-13
   days on market $177,000 Active 94 DOM
8. 2026-06-12
   days on market $177,000 Active 93 DOM
9. 2026-06-09
   days on market $177,000 Active 90 DOM
10. 2026-06-08
    days on market $177,000 Active 89 DOM
11. 2026-06-07
    days on market $177,000 Active 88 DOM
12. 2026-06-07
    days on market $177,000 Active 87 DOM
13. 2026-06-04
    days on market $177,000 Active 84 DOM
14. 2026-06-02
    days on market $177,000 Active 83 DOM
15. 2026-06-01
    days on market $177,000 Active 82 DOM
16. 2026-05-31
    days on market $177,000 Active 81 DOM
17. 2026-05-19
    price $177,000 677-char remark

    Show marketing remark (677 chars)

    EXCELLENT INVESTMENT OPPORTUNITY WITH THIS TURN-KEY DUPLEX LOCATED IN YORK TOWNSHIP! This Duplex was Built in 2005 and Sits on 1.06 Acres of Land. These are Very Nice Units that Offer 1200 sq. ft of Living Space EACH. Each Unit Consists of TWO Bedrooms, Full Bath, Spacious Living Room and Eat-In Kitchen Areas. Plenty of Storage and Closet Space Available for Both Units. A Private Shared Laundry Room Offers a Washer and Dryer Unit that Stay with the Property. Each Unit has Separate Utilities and are Currently Rented at $750 a Month Per Unit. There is also Plenty of Parking for Tenants and Guests. Upstairs Unit will be Vacant to Owner Occupy or to Choose Your OWN Tenant!

18. 2026-03-31
    price $186,000 677-char remark

    Show marketing remark (677 chars)

    EXCELLENT INVESTMENT OPPORTUNITY WITH THIS TURN-KEY DUPLEX LOCATED IN YORK TOWNSHIP! This Duplex was Built in 2005 and Sits on 1.06 Acres of Land. These are Very Nice Units that Offer 1200 sq. ft of Living Space EACH. Each Unit Consists of TWO Bedrooms, Full Bath, Spacious Living Room and Eat-In Kitchen Areas. Plenty of Storage and Closet Space Available for Both Units. A Private Shared Laundry Room Offers a Washer and Dryer Unit that Stay with the Property. Each Unit has Separate Utilities and are Currently Rented at $750 a Month Per Unit. There is also Plenty of Parking for Tenants and Guests. Upstairs Unit will be Vacant to Owner Occupy or to Choose Your OWN Tenant!

19. 2026-03-09
    listed $196,000 Active 677-char remark

    Show marketing remark (677 chars)

    EXCELLENT INVESTMENT OPPORTUNITY WITH THIS TURN-KEY DUPLEX LOCATED IN YORK TOWNSHIP! This Duplex was Built in 2005 and Sits on 1.06 Acres of Land. These are Very Nice Units that Offer 1200 sq. ft of Living Space EACH. Each Unit Consists of TWO Bedrooms, Full Bath, Spacious Living Room and Eat-In Kitchen Areas. Plenty of Storage and Closet Space Available for Both Units. A Private Shared Laundry Room Offers a Washer and Dryer Unit that Stay with the Property. Each Unit has Separate Utilities and are Currently Rented at $750 a Month Per Unit. There is also Plenty of Parking for Tenants and Guests. Upstairs Unit will be Vacant to Owner Occupy or to Choose Your OWN Tenant!

ⓘ 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: $1,210 · $101/mo
• Projected year-2 tax: $1,985 · $165/mo
• Expected delta: +$776/yr (+$65/mo · 64.1%)

ⓘ 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 ≥98°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,228
• − Mortgage interest: −$9,915
• − Property taxes: −$1,210
• − Insurance: −$885
• − Repairs & maintenance: −$1,698
• − Management: −$1,698
• − Depreciation: −$5,149
• Taxable income: $673
• Est. tax owed @ 24.0%: −$162
• After-tax cash flow: $3,375/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: 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

-9.7% since first listed

3 events — show timeline

• 2026-05-19 Price Changed $177,000 FAOR
• 2026-03-31 Price Changed $186,000 FAOR
• 2026-03-09 Listed $196,000 FAOR

Property tax history

-5.1%/yr

Latest (2024): $1,210 · -40.6% YoY. Source: county tax records.