934 Washington St Unit 1A · Sandusky, OH 44870

$295,900

3 bd · 2.0 ba · 1,600 sqft · Condo · 7 Days on market

Built 2005 Good condition $185/sqft · 25% below area Est $394k · 25% under $275/mo HOA · 9% of rent ↓ 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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy living near downtown Sandusky. This well-maintained ground-level condominium offers 3 bedrooms, 2 full baths, and a comfortable, move-in-ready opportunity whether you're searching for a primary residence, weekend getaway, or investment property. Designed with both function and character in mind, the open-concept layout creates a welcoming atmosphere for everyday living and entertaining. The spacious living and dining areas flow seamlessly together, while ground-floor access provides convenient entry with no stairs to navigate. The thoughtfully designed floor plan offers flexibility for family, guests, or rental use. Three bedrooms and two full bathrooms provide plenty of spa

Key facts

• Ground floor access
• Flexible floor plan
• Open concept layout

Tags

• GROUND LEVEL CONDOMINIUM
• OPEN CONCEPT LAYOUT
• GROUND FLOOR ACCESS
• FLEXIBLE FLOOR PLAN
• MINUTES FROM DOWNTOWN SANDUSKY
• CONVENIENT ACCESS TO SHOPPING

Property features AI

Finance

• HOA & community: Homeowners association with a $275 monthly fee

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; 200+ amp electric service with circuit breakers; Cable available
• Home design: Residential condominium; Single-story
• Construction: Brick and vinyl siding construction
• Exterior features: Rubber roof; Shed(s); Pets allowed; Residential zoning

Interior

• Kitchen: Kitchen equipped with dishwasher, range, microwave, and refrigerator
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fan(s); Electric heating; Forced air; Heat pump
• Interior features: Dishwasher; Dryer; Disposal; Microwave; Range; Refrigerator; Full basement
• Laundry & utility: Includes dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $296k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-31 ($-368/yr) — negative.
• To cash-flow at today's rent, offer at most $291k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $290k (2.1% below list).
• Recommended offer: $290k (2.1% below list) — sets the bar for 1% rule.

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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d 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).
• At $2,898/mo this rent would consume 56% of the median local household income ($62k/yr) (locally 1602% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $289,774 (2.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.98% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.44%
• DSCR: 0.98
• GRM: 8.5

CMA / ARV

• ARV (median comp): $393,711
• List price: $295,900
• Delta: -18.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-49,690
• Equity at exit: $44,120

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-44,921
• Equity at exit: $25,584

Cash invested: $82,852 (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: 8.5×

Monthly cashflow live

• Estimated rent: $2,898 medium
• Mortgage (P&I): −$1,552
• Tax est. 1.5%: −$370 /mo · $4,438/yr
• Insurance: −$123
• HOA: −$275
• Vacancy / Maint / Mgmt: −$609
• Net cashflow: $-31

Break-even live

Break-even rent $2,937

Max offer price $291,460

Occupancy floor 96%

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: $73,975
• Closing costs: $8,877
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	0.53mi
1032 Perry St Sandusky, OH	4.0	2.5	1845	$850	$0.46	43d	1	1.09mi
1107 1st St Unit 1496057P Sandusky, OH	4.0	3.0	1151	$6,631	$5.76	43d	1	1.33mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-19
   days on market $295,900 Active 7 DOM
2. 2026-06-18
   days on market $295,900 Active 6 DOM
3. 2026-06-17
   days on market $295,900 Active 5 DOM
4. 2026-06-16
   days on market $295,900 Active 4 DOM
5. 2026-06-15
   days on market $295,900 Active 3 DOM
6. 2026-06-13
   pricedays on marketlisting id $295,900 Active 1 DOM
7. 2026-06-01
   days on market $319,900 Active 39 DOM
8. 2026-05-31
   days on market $319,900 Active 38 DOM
9. 2026-05-30
   days on market $319,900 Active 37 DOM
10. 2026-04-22
    listed $319,900 Active 1264-char remark
11. 2026-03-05
    price $319,900
12. 2025-10-28
    price $330,000

ⓘ 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 ≥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: $34,773
• − Mortgage interest: −$16,575
• − Property taxes: −$4,438
• − Insurance: −$1,480
• − Repairs & maintenance: −$2,782
• − Management: −$2,782
• − HOA: −$3,300
• − Depreciation: −$8,608
• Taxable loss: −$5,192
• Est. tax savings @ 24.0%: +$1,246
• After-tax cash flow: $878/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

Good 75/100 Cosmetic rehab

This move-in-ready condo offers a good condition with modern amenities and a good location. A fresh coat of paint on the exterior and cleaning the gutters would further enhance its appeal and value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Clean gutters — Improves drainage and prevents water damage

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Clean gutters — Improves drainage and prevents water damage ↑

ⓘ 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: 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

-10.3% since first listed

3 events — show timeline

• 2026-06-12 Listed $295,900 FAOR
• 2026-03-05 Price Changed $319,900 FAOR
• 2025-10-28 Price Changed $330,000 FAOR