817 1st St · Sandusky, OH 44870

$72,000

4 bd · 1.5 ba · 1,512 sqft · SingleFamily public records · 5 Days on market

Built 1933 3,202 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Just blocks from Lake Erie and located within Sandusky's desirable short-term rental district, this property is an incredible opportunity for investors. The demo has already been completed, which will save time and money. This is a true blank canvas ready to be transformed into a money-producing Lake Erie getaway. LEAD ABATEMENT DONE IN 2021!ROOF APPROXIMATELY 8 YEARS OLD!✔️ Airbnb/VRBO-friendly district✔️ Just blocks from Lake Erie✔️ Minutes from Cedar Point, ferries, marinas, downtown Sandusky, and restaurants✔️ Endless opportunity to create a custom vacation rental experience✔️ Strong income-producing potential with the right vision and finishes✔️ Ideal for investors, flippers, or short-

Key facts

• Lake erie getaway
• 3,202 sq ft lot
• Built 1933

Tags

• SHORT TERM RENTAL DISTRICT
• AIRBNB VRBO FRIENDLY DISTRICT
• INCOME PRODUCING POTENTIAL
• LAKE ERIE GETAWAY

Property features AI

Finance

• Other: Located in the Huntington & Andersons subdivision

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Aluminum siding exterior; Asphalt roof
• Exterior features: Asphalt roof; Aluminum siding; Lot approximately 0.0735 acres

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced-air heating
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $72k.

Deal economics

• At list price, monthly cash flow is $2k ($23k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $72k).
• Cap rate 38.1% 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).
• At $3,069/mo this rent would consume 59% 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 $498 of loan paydown is wiped out by about $2k 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 $20k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $72,000

Questions for the listing agent

1. Built in 1933 — 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: 4.26% ✓
• Cap rate: 38.15%
• Cash-on-cash: 113.76%
• DSCR: 6.06
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $155,736
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
522 E Jefferson St	0.28mi	3/2.0 (-1)	1,547 (+2%)	4mo	$50,000	$32	73
1130 Fourth St	0.32mi	4/2.0	1,589 (+5%)	3mo	$140,000	$88	72
604 E Jefferson St	0.25mi	4/1.5	1,400 (-7%)	7mo	$143,900	$103	70
919 Hancock St	0.46mi	3/1.0 (-1)	1,426 (-6%)	3mo	$72,000	$50	60
318 High St	0.75mi	4/2.0	1,532 (+1%)	3mo	$185,000	$121	58
1002 Sycamore Line	0.21mi	3/1.0 (-1)	1,288 (-15%)	3mo	$140,000	$109	56
623 E Market St	0.52mi	3/2.0 (-1)	1,448 (-4%)	9mo	$90,000	$62	54
1111 Erie St	0.33mi	3/1.5 (-1)	1,344 (-11%)	9mo	$175,000	$130	54
1104 Waverly Rd	0.47mi	3/1.0 (-1)	1,336 (-12%)	7mo	$180,000	$135	46
914 Hayes Ave	0.65mi	3/1.0 (-1)	1,320 (-13%)	1mo	$133,000	$101	41
817 Hayes Ave	0.64mi	3/2.5 (-1)	1,721 (+14%)	5mo	$179,900	$105	34
205 W Madison St. St	0.68mi	3/1.0 (-1)	1,726 (+14%)	8mo	$104,900	$61	31

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: —
• Equity multiple: 6.46×
• Total profit: $110,118
• Equity at exit: $10,735

10-year hold

• IRR: —
• Equity multiple: 13.54×
• Total profit: $252,861
• Equity at exit: $6,225

Cash invested: $20,160 (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: 2.0×

Monthly cashflow live

• Estimated rent: $3,069 medium
• Mortgage (P&I): −$378
• Tax from tax record: −$106 /mo · $1,270/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$645
• Net cashflow: $1,911

Break-even live

Break-even rent $650

Max offer price $72,000

Occupancy floor 33%

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: $18,000
• Closing costs: $2,160
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1107 1st St Unit 1496057P Sandusky, OH	4.0	3.0	1151	$6,631	$5.76	44d	1	0.19mi
1032 Perry St Sandusky, OH	4.0	2.5	1845	$850	$0.46	44d	1	0.24mi

Listing history 4 events

1. 2026-06-01
   status $72,000 Pending 5 DOM
2. 2026-05-31
   days on market $72,000 Active 5 DOM
3. 2026-05-30
   days on market $72,000 Active 4 DOM
4. 2026-05-26
   listed $72,000 Active

ⓘ 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: $1,270 · $106/mo
• Projected year-2 tax: $1,270 · $106/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥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: $36,830
• − Mortgage interest: −$4,033
• − Property taxes: −$1,270
• − Insurance: −$360
• − Repairs & maintenance: −$2,946
• − Management: −$2,946
• − Depreciation: −$2,095
• Taxable income: $23,180
• Est. tax owed @ 24.0%: −$5,563
• After-tax cash flow: $17,372/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

• 2026-05-26 Listed $72,000 FAOR

Property tax history

+11.4%/yr

Latest (2025): $1,270 · -1.0% YoY. Source: county tax records.