421 E 4th St · Port Clinton, OH 43452

$199,000

2 bd · 1.0 ba · 1,186 sqft · SingleFamily public records · 78 Days on market

Built 1890 6,251 sqft lot $168/sqft · 13% above area Est $175k · 13% over

---

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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.0/10.0
• Schools +4.8/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2-bedroom, 1-bath two-story home in Port Clinton with numerous updates throughout! This move-in-ready property features updated flooring and fresh paint, a stylish kitchen with granite countertops, wood cabinetry, and stainless steel appliances, plus the convenience of a washer/dryer combo. The main level offers nicely sized rooms perfect for entertaining, while upstairs provides comfortable bedroom space. Enjoy the outdoors in the spacious backyardideal for relaxing or gatherings. Additional highlights include a newer HVAC system for peace of mind. A great opportunity to own a well-maintained home close to everything Port Clinton has to offer! What a great air bnb this would be call today for your personal tour.

Key facts

• Stylish kitchen
• Washer dryer combo
• Updated flooring

Tags

• UPDATED FLOORING
• STYLISH KITCHEN
• GRANITE COUNTERTOPS
• WOOD CABINETRY
• STAINLESS STEEL APPLIANCES
• WASHER DRYER COMBO

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $611 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $187k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 2.3% in Port Clinton — 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 72/100 on livability (#359 in OH) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, schools A-; Watch: employment C-, amenities F, commute F.
• Port Clinton City (town): math 55% / reading 59% proficiency, ranked #342 of 656 in OH (top 52%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 220 active listings in the ZIP; 128 units permitted in Ottawa County in 2024 (0 in 5+ unit buildings).
• This rent runs 45% 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 $6k of value loss. Plan a longer hold.
• Ottawa County population projected at -19% 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 $56k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $17k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $187,060 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.16%
• DSCR: 1.59
• GRM: 7.0

CMA / ARV

• ARV (median comp): $175,472
• List price: $199,000
• Delta: 13.41%
• 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
322 E 6th St	0.24mi	3/1.0 (+1)	1,182 (-0%)	2mo	$175,000	$148	82
424 Short	0.13mi	3/2.0 (+1)	1,152 (-3%)	11mo	$170,500	$148	71
414 Short St	0.12mi	2/1.0	1,056 (-11%)	8mo	$100,000	$95	70
413 Adams St	0.15mi	3/1.5 (+1)	1,278 (+8%)	8mo	$115,000	$90	66
516 Adams St	0.23mi	2/1.0	1,045 (-12%)	10mo	$185,000	$177	61
218 Elm St	0.37mi	3/2.0 (+1)	1,288 (+9%)	3mo	$242,000	$188	57
820 Monroe St	0.64mi	3/1.0 (+1)	1,168 (-2%)	8mo	$165,000	$141	56
232 Beech St	0.50mi	3/1.0 (+1)	1,294 (+9%)	2mo	$258,000	$199	54
200 E 6th St	0.33mi	3/1.0 (+1)	1,048 (-12%)	7mo	$126,000	$120	54
311 Walnut St	0.61mi	3/1.5 (+1)	1,288 (+9%)	2mo	$275,000	$214	49
1214 E 2nd St	0.55mi	2/1.0	1,064 (-10%)	11mo	$209,000	$196	48
124 Walnut St	0.63mi	3/1.0 (+1)	1,262 (+6%)	12mo	$200,000	$158	45

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: 3.1%
• Equity multiple: 1.12×
• Total profit: $6,644
• Equity at exit: $29,672

10-year hold

• IRR: 12.6%
• Equity multiple: 2.00×
• Total profit: $55,786
• Equity at exit: $17,206

Cash invested: $55,720 (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 43452

• Active inventory: 220
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $2,383 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$145 /mo · $1,744/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$501
• Net cashflow: $611

Break-even live

Break-even rent $1,610

Max offer price $199,000

Occupancy floor 69%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $199,000 Active 78 DOM
2. 2026-06-17
   days on market $199,000 Active 77 DOM
3. 2026-06-16
   days on market $199,000 Active 76 DOM
4. 2026-06-15
   days on market $199,000 Active 75 DOM
5. 2026-06-13
   days on market $199,000 Active 73 DOM
6. 2026-06-12
   days on market $199,000 Active 72 DOM
7. 2026-06-09
   days on market $199,000 Active 69 DOM
8. 2026-06-08
   days on market $199,000 Active 68 DOM
9. 2026-06-08
   days on market $199,000 Active 67 DOM
10. 2026-06-07
    days on market $199,000 Active 66 DOM
11. 2026-06-04
    days on market $199,000 Active 63 DOM
12. 2026-06-02
    days on market $199,000 Active 62 DOM
13. 2026-06-01
    pricedays on market $199,000 Active 61 DOM
14. 2026-05-31
    days on market $209,000 Active 60 DOM
15. 2026-04-30
    price $209,000 731-char remark

    Show marketing remark (731 chars)

    Charming 2-bedroom, 1-bath two-story home in Port Clinton with numerous updates throughout! This move-in-ready property features updated flooring and fresh paint, a stylish kitchen with granite countertops, wood cabinetry, and stainless steel appliances, plus the convenience of a washer/dryer combo. The main level offers nicely sized rooms perfect for entertaining, while upstairs provides comfortable bedroom space. Enjoy the outdoors in the spacious backyardideal for relaxing or gatherings. Additional highlights include a newer HVAC system for peace of mind. A great opportunity to own a well-maintained home close to everything Port Clinton has to offer! What a great air bnb this would be call today for your personal tour.

16. 2026-04-01
    listed $216,000 Active 731-char remark

    Show marketing remark (731 chars)

    Charming 2-bedroom, 1-bath two-story home in Port Clinton with numerous updates throughout! This move-in-ready property features updated flooring and fresh paint, a stylish kitchen with granite countertops, wood cabinetry, and stainless steel appliances, plus the convenience of a washer/dryer combo. The main level offers nicely sized rooms perfect for entertaining, while upstairs provides comfortable bedroom space. Enjoy the outdoors in the spacious backyardideal for relaxing or gatherings. Additional highlights include a newer HVAC system for peace of mind. A great opportunity to own a well-maintained home close to everything Port Clinton has to offer! What a great air bnb this would be call today for your personal tour.

17. 2024-11-04
    soldstatus $189,000 Closed 123-char remark

    Show marketing remark (123 chars)

    This home has been updated and is ready to move in! Has 2 bedrooms and one bathroom. This is a Fannie Mae homepath propery.

18. 2024-10-01
    status Pending 123-char remark

    Show marketing remark (123 chars)

    This home has been updated and is ready to move in! Has 2 bedrooms and one bathroom. This is a Fannie Mae homepath propery.

19. 2024-08-20
    listed $194,500 Active 123-char remark

    Show marketing remark (123 chars)

    This home has been updated and is ready to move in! Has 2 bedrooms and one bathroom. This is a Fannie Mae homepath propery.

20. 2007-03-21
    soldstatus $82,000
21. 1998-03-30
    soldstatus $64,000
22. 1994-01-19
    soldstatus $34,000

ⓘ 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: $1,744 · $145/mo
• Projected year-2 tax: $2,424 · $202/mo
• Expected delta: +$680/yr (+$57/mo · 39.0%)

ⓘ 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 ≥96°F today · 17 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: $28,600
• − Mortgage interest: −$11,147
• − Property taxes: −$1,744
• − Insurance: −$995
• − Repairs & maintenance: −$2,288
• − Management: −$2,288
• − Depreciation: −$5,789
• Taxable income: $4,349
• Est. tax owed @ 24.0%: −$1,044
• After-tax cash flow: $6,289/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: Port Clinton City
• NCES district ID: 3904465
• Math proficiency: 55% ▼ -14.00%
• Reading proficiency: 59% ▼ -11.00%
• Median HH income: $47,532
• Composite: 48.34/100
• National rank: #2145
• State rank: #342 of 656 in OH

Livability — Port Clinton

• Score: 72/100
• State rank: #359
• US rank: #5778

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment C- Housing A+ Health & safety B+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Clinton, OH
• County: Ottawa · 37,113 people
• City population: 14,052
• Metro: Sandusky, OH
• Population (ZIP): 14,052
• Household income: $63,815
• Rent vs Own: 20.7% rent · 79.3% own
• Severe rent burden: 5.6

Population outlook (Ottawa County) Hauer SSP2

• Today (2025): 39,548 people
• By 2030: 38,297 · -3.2%
• By 2040: 35,070 · -11.3%
• By 2050: 31,956 · -19.2%
• By 2075: 27,454 · -30.6%
• By 2100: 23,596 · -40.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Black 2%
• Common ancestry: Romanian 5% Lithuanian 3% Iranian 2%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Ottawa

• 2024 margin: Strong R (+25.1) · D 37.0% · R 62.1%
• 2008→2024 swing: -31.3pp toward R · 2008: 6.3pp · 2024: -25.1pp
• All cycles: 2024: R+25.1 2020: R+23.4 2016: R+19.6 2012: D+4.1 2008: D+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -145.50%
• Current HPI: 219.0624
• 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

+514.7% since first listed

8 events — show timeline

• 2026-04-30 Price Changed $209,000 FAOR
• 2026-04-01 Listed $216,000 FAOR
• 2024-11-04 Sold (MLS) $189,000 FAOR
• 2024-10-01 Pending — FAOR
• 2024-08-20 Listed $194,500 FAOR
• 2007-03-21 Sold (Public Records) $82,000 Public Records
• 1998-03-30 Sold (Public Records) $64,000 Public Records
• 1994-01-19 Sold (Public Records) $34,000 Public Records

Property tax history

+10.7%/yr

Latest (2025): $1,744 · +35.7% YoY. Source: county tax records.