1805 Sycamore Line · Sandusky, OH 44870

$145,900

3 bd · 1.0 ba · 988 sqft · SingleFamily public records · 60 Days on market

Built 1950 0.25 ac lot $148/sqft · 19% above area Est $117k · 25% 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• 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

Spacious Living with Bonus Basement Potential!Location: 1805 Sycamore Line, Sandusky, OH 44870Welcome to this charming single-family home on Sycamore Line, offering a fantastic blend of functional living space and future potential. This 1950s-built residence sits on a generous city lot and is ready for its next chapter. Interior HighlightsGenerous Living Space: Features a large living room perfect for gatherings or quiet evenings. Kitchen & Dining: The kitchen includes a dedicated eat-in area, creating a cozy hub for daily meals. Versatile Bedrooms: This home offers 3 traditional bedrooms, with the added benefit of a bonus fourth bedroom located in the basement, ideal for guests or a private office. Lower Level Potential: The basement provides a spacious family room for extra entertainment space and includes dedicated washer and dryer hookups. Exterior & AmenitiesDetached Garage: Keep your vehicle protected from Ohio winters in the detached garage. Spacious Lot: The lot provides plenty of room for outdoor activities, gardening, or a play area. Comfort Control: Equipped with central cooling and a gas heating system to keep you comfortable year-round.

Key facts

• 0.25 acre lot
• Garage
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $146k.

Deal economics

• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $146k).
• Recommended offer: $142k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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).
• This rent runs 38% of the median local income ($62k/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 $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 $41k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($142k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $64k; list at $146k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,523 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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?
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: 1.35% ✓
• Cap rate: 11.55%
• Cash-on-cash: 18.78%
• DSCR: 1.84
• GRM: 6.2

CMA / ARV

• ARV (median comp): $116,603
• List price: $145,900
• Delta: 25.13%
• 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
1119 E Parish St	0.27mi	3/1.0	1,000 (+1%)	6mo	$62,000	$62	81
421 Scott St	0.56mi	3/1.0	1,012 (+2%)	2mo	$119,900	$118	68
1809 Knupke Rd	0.69mi	3/1.0	1,000 (+1%)	2mo	$162,000	$162	64
1810 Knupke St	0.69mi	3/1.0	960 (-3%)	1mo	$147,000	$153	62
1304 E Parish St	0.37mi	3/1.0	1,116 (+13%)	1mo	$95,000	$85	60
1474 Dixon Dr	0.71mi	3/1.0	975 (-1%)	6mo	$130,000	$133	59
1014 Fourth St St	0.63mi	3/1.0	924 (-6%)	2mo	$120,000	$130	58
1648 Oakmont Lane Ln	0.70mi	3/1.0	925 (-6%)	1mo	$150,000	$162	55
1123 Huntington Ave	0.33mi	2/1.0 (-1)	870 (-12%)	6mo	$113,300	$130	55
1115 Fifth St	0.60mi	3/1.5	1,089 (+10%)	5mo	$174,700	$160	49
206 Townsend St	0.70mi	2/1.0 (-1)	1,049 (+6%)	6mo	$148,000	$141	48
306 Tyler St	0.58mi	3/1.0	1,136 (+15%)	3mo	$130,000	$114	46

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: 10.6%
• Equity multiple: 1.42×
• Total profit: $17,055
• Equity at exit: $21,754

10-year hold

• IRR: 19.6%
• Equity multiple: 2.64×
• Total profit: $67,188
• Equity at exit: $12,615

Cash invested: $40,852 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,974 medium
• Mortgage (P&I): −$765
• Tax from tax record: −$94 /mo · $1,127/yr
• Insurance: −$61
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $639

Break-even live

Break-even rent $1,164

Max offer price $145,900

Occupancy floor 63%

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: $36,475
• Closing costs: $4,377
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	43d	5	1.27mi
1515 W Perkins Ave Sandusky, OH	2.0	1.0	925	$925	$1.00	43d	1	1.38mi

Listing history 17 events

1. 2026-06-19
   days on market $145,900 Active 60 DOM
2. 2026-06-18
   days on market $145,900 Active 59 DOM
3. 2026-06-17
   days on market $145,900 Active 58 DOM
4. 2026-06-16
   days on market $145,900 Active 57 DOM
5. 2026-06-15
   days on market $145,900 Active 56 DOM
6. 2026-06-14
   days on market $145,900 Active 54 DOM
7. 2026-06-12
   days on market $145,900 Active 53 DOM
8. 2026-06-09
   days on market $145,900 Active 50 DOM
9. 2026-06-08
   days on market $145,900 Active 49 DOM
10. 2026-06-07
    days on market $145,900 Active 48 DOM
11. 2026-06-03
    days on market $145,900 Active 44 DOM
12. 2026-06-02
    days on market $145,900 Active 43 DOM
13. 2026-06-01
    days on market $145,900 Active 42 DOM
14. 2026-05-31
    days on market $145,900 Active 41 DOM
15. 2026-05-30
    days on market $145,900 Active 40 DOM
16. 2026-04-17
    listed $145,900 Active 1179-char remark

    Show marketing remark (1179 chars)

    Spacious Living with Bonus Basement Potential!Location: 1805 Sycamore Line, Sandusky, OH 44870Welcome to this charming single-family home on Sycamore Line, offering a fantastic blend of functional living space and future potential. This 1950s-built residence sits on a generous city lot and is ready for its next chapter. Interior HighlightsGenerous Living Space: Features a large living room perfect for gatherings or quiet evenings. Kitchen & Dining: The kitchen includes a dedicated eat-in area, creating a cozy hub for daily meals. Versatile Bedrooms: This home offers 3 traditional bedrooms, with the added benefit of a bonus fourth bedroom located in the basement, ideal for guests or a private office. Lower Level Potential: The basement provides a spacious family room for extra entertainment space and includes dedicated washer and dryer hookups. Exterior & AmenitiesDetached Garage: Keep your vehicle protected from Ohio winters in the detached garage. Spacious Lot: The lot provides plenty of room for outdoor activities, gardening, or a play area. Comfort Control: Equipped with central cooling and a gas heating system to keep you comfortable year-round.

17. 1998-06-24
    soldstatus $63,500

ⓘ 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: $1,127 · $94/mo
• Projected year-2 tax: $1,702 · $142/mo
• Expected delta: +$574/yr (+$48/mo · 50.9%)

ⓘ 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 ≥95°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: $23,685
• − Mortgage interest: −$8,173
• − Property taxes: −$1,127
• − Insurance: −$730
• − Repairs & maintenance: −$1,895
• − Management: −$1,895
• − Depreciation: −$4,244
• Taxable income: $5,621
• Est. tax owed @ 24.0%: −$1,349
• After-tax cash flow: $6,323/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

+129.8% since first listed

2 events — show timeline

• 2026-04-17 Listed $145,900 FAOR
• 1998-06-24 Sold (Public Records) $63,500 Public Records

Property tax history

-0.1%/yr

Latest (2025): $1,127 · -1.0% YoY. Source: county tax records.