1214 W Osborne St · Sandusky, OH 44870

$139,000

2 bd · 1.0 ba · 966 sqft · SingleFamily public records · 27 Days on market

Built 1924 7,290 sqft lot $144/sqft · 39% above area Est $100k · 39% over

---

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 +23.3/30.0
• DSCR +7.5/10.0
• 1% rule +5.6/10.0
• 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

This cozy 3 bedroom is waiting for its new owner. Are you looking for your first home or downsizing. The backyard is spacious with a deck and privacy fence. There is space in the basement for a workshop and storage. There is alley access parking in the rear. The garage/work shop was sided on the back but can be removed to convert it back. The gutters and downspouts were replaced in April 2024. The furnace and hot water tank were replaced in July 2024.

Key facts

• Metal roof
• Single-floor living
• 7,290 sq ft lot

Tags

• SINGLE-FLOOR LIVING
• NEW GUTTERS AND DOWNSPOUTS
• NEW FURNACE AND HOT WATER TANK
• ROOF APPROXIMATELY 7 YEARS OLD
• METAL ROOF
• PARTIALLY FINISHED BASEMENT

Property features AI

Exterior

• Utilities: Public water; Public sewer; Cable available
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding
• Exterior features: Asphalt roof

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced air heating; Window unit(s) for cooling; Ceiling fan(s)
• Interior features: Dishwasher; Range; Refrigerator; Washer; Partial, partially finished basement
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $139k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $139k).
• Recommended offer: $137k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 6.1% 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; 4 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $961 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.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($137k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $136,915 (1.5% below list)

Questions for the listing agent

1. Built in 1924 — 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. 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?
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: 1.06% ✓
• Cap rate: 8.49%
• Cash-on-cash: 7.86%
• DSCR: 1.35
• GRM: 7.8

CMA / ARV

• ARV (median comp): $99,644
• List price: $139,000
• Delta: 39.50%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1214 W Osborne St	0.00mi	3/1.0 (+1)	966 (0%)	1mo	$139,000	$144	94
1535 Camp St	0.13mi	2/1.0	924 (-4%)	1mo	$71,000	$77	85
1316 Harrison St	0.37mi	2/1.0	921 (-5%)	1mo	$50,000	$54	74
542 Camp St	0.40mi	3/1.0 (+1)	932 (-4%)	1mo	$109,000	$117	70
1308 Vine St	0.20mi	2/1.0	847 (-12%)	2mo	$109,900	$130	68
911 A St	0.27mi	3/1.0 (+1)	1,047 (+8%)	2mo	$115,000	$110	67
1510 Pearl St	0.18mi	2/1.0	1,103 (+14%)	3mo	$47,000	$43	66
2023 W Forest Dr	0.54mi	3/1.0 (+1)	925 (-4%)	3mo	$107,000	$116	60
2103 Putnam Street St	0.66mi	3/1.0 (+1)	990 (+2%)	1mo	$127,900	$129	59
1202 W Monroe St	0.30mi	3/1.0 (+1)	1,086 (+12%)	4mo	$74,000	$68	57
2145 W Forest Dr	0.65mi	3/1.0 (+1)	912 (-6%)	3mo	$97,000	$106	53
932 Madison St	0.44mi	3/1.0 (+1)	1,098 (+14%)	2mo	$162,000	$148	50

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: -4.3%
• Equity multiple: 0.84×
• Total profit: $-6,292
• Equity at exit: $20,725

10-year hold

• IRR: 5.4%
• Equity multiple: 1.40×
• Total profit: $15,400
• Equity at exit: $12,018

Cash invested: $38,920 (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: 210
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,476 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$125 /mo · $1,495/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $255

Break-even live

Break-even rent $1,154

Max offer price $139,000

Occupancy floor 78%

Sensitivity live

Price	-10% $334	-5% $294	+0% $255	+5% $216	+10% $176
Rent	-10% $138	-5% $197	+0% $255	+5% $313	+10% $372
Rate	-1.0pp $325	-0.5pp $290	base $255	+0.5pp $219	+1.0pp $182

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1515 W Perkins Ave Sandusky, OH	2.0	1.0	925	$925	$1.00	45d	1	0.62mi
156 E Market St Sandusky, OH	1.0–2.0	1.0–2.5	1266	$3,539	$2.79	45d	5	1.06mi
305 Perry St Sandusky, OH	1.0	1.0	750	$995	$1.33	45d	1	1.31mi
1227 Avondale St Sandusky, OH	1.0	1.0	670	$1,045	$1.56	45d	1	1.38mi

Listing history 11 events

1. 2026-05-04
   historical Active Under Contract 1226-char remark
2. 2026-05-01
   listed $139,000 Active 1226-char remark
3. 2024-12-23
   soldstatus $115,000 Closed 455-char remark

   Show marketing remark (455 chars)

   This cozy 3 bedroom is waiting for its new owner. Are you looking for your first home or downsizing. The backyard is spacious with a deck and privacy fence. There is space in the basement for a workshop and storage. There is alley access parking in the rear. The garage/work shop was sided on the back but can be removed to convert it back. The gutters and downspouts were replaced in April 2024. The furnace and hot water tank were replaced in July 2024.

4. 2024-12-23
   soldstatus $86,250

   Show marketing remark (455 chars)

   This cozy 3 bedroom is waiting for its new owner. Are you looking for your first home or downsizing. The backyard is spacious with a deck and privacy fence. There is space in the basement for a workshop and storage. There is alley access parking in the rear. The garage/work shop was sided on the back but can be removed to convert it back. The gutters and downspouts were replaced in April 2024. The furnace and hot water tank were replaced in July 2024.

5. 2024-12-15
   status Pending 455-char remark

   Show marketing remark (455 chars)

   This cozy 3 bedroom is waiting for its new owner. Are you looking for your first home or downsizing. The backyard is spacious with a deck and privacy fence. There is space in the basement for a workshop and storage. There is alley access parking in the rear. The garage/work shop was sided on the back but can be removed to convert it back. The gutters and downspouts were replaced in April 2024. The furnace and hot water tank were replaced in July 2024.

6. 2024-12-07
   historical Active Under Contract 455-char remark

   Show marketing remark (455 chars)

   This cozy 3 bedroom is waiting for its new owner. Are you looking for your first home or downsizing. The backyard is spacious with a deck and privacy fence. There is space in the basement for a workshop and storage. There is alley access parking in the rear. The garage/work shop was sided on the back but can be removed to convert it back. The gutters and downspouts were replaced in April 2024. The furnace and hot water tank were replaced in July 2024.

7. 2024-11-29
   listed $119,000 Active 455-char remark

   Show marketing remark (455 chars)

   This cozy 3 bedroom is waiting for its new owner. Are you looking for your first home or downsizing. The backyard is spacious with a deck and privacy fence. There is space in the basement for a workshop and storage. There is alley access parking in the rear. The garage/work shop was sided on the back but can be removed to convert it back. The gutters and downspouts were replaced in April 2024. The furnace and hot water tank were replaced in July 2024.

8. 2024-01-05
   price $129,000
9. 2020-12-15
   soldstatus $47,000
10. 2020-08-20
    listed $49,900
11. 1988-12-12
    soldstatus $25,000

ⓘ 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: $1,495 · $125/mo
• Projected year-2 tax: $1,832 · $153/mo
• Expected delta: +$337/yr (+$28/mo · 22.5%)

ⓘ 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) · 22% 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: $17,717
• − Mortgage interest: −$7,786
• − Property taxes: −$1,495
• − Insurance: −$695
• − Repairs & maintenance: −$1,417
• − Management: −$1,417
• − Depreciation: −$4,044
• Taxable income: $863
• Est. tax owed @ 24.0%: −$207
• After-tax cash flow: $2,853/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

+456.0% since first listed

14 events — show timeline

• 2026-06-04 Sold (MLS) $139,000 FAOR
• 2026-06-03 Sold (Public Records) $139,000 Public Records
• 2026-05-28 Pending — FAOR
• 2026-05-04 Contingent — FAOR
• 2026-05-01 Listed $139,000 FAOR
• 2024-12-23 Sold (Public Records) $86,250 Public Records
• 2024-12-23 Sold (MLS) $115,000 FAOR
• 2024-12-15 Pending — FAOR
• 2024-12-07 Contingent — FAOR
• 2024-11-29 Listed $119,000 FAOR
• 2024-01-05 Price Changed $129,000 FAOR
• 2020-12-15 Sold (MLS) $47,000 FAOR
• 2020-08-20 Listed $49,900 FAOR
• 1988-12-12 Sold (Public Records) $25,000 Public Records

Property tax history

+7.6%/yr

Latest (2025): $1,495 · -1.0% YoY. Source: county tax records.