6008 Conneaut Light Dr · Vermilion, OH 44089

$359,700

3 bd · 2.0 ba · 1,512 sqft · SingleFamily public records · 12 Days on market

Built 2000 0.32 ac lot Est $321k · 12% over

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +5.0/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome Home to Vermilion! This beautifully maintained 3-bedroom, 2-full-bath home offers the perfect blend of comfort, space, and functionality. Nestled in a desirable neighborhood, you'll love the inviting curb appeal, oversized lot, and spacious backyard complete with mature landscaping, a storage shed, fire pit, and plenty of room for outdoor entertaining, gardening, or play. Inside, the bright and welcoming floor plan features a spacious living room, a well-appointed kitchen with abundant cabinetry, stainless steel appliances, granite countertops, and a center island perfect for gathering. The adjacent dining area provides a seamless flow for everyday living and hosting guests. The fir

Key facts

• Spacious backyard
• Storage shed
• Fire pit

Tags

• OVERSIZED LOT
• SPACIOUS BACKYARD
• MATURE LANDSCAPING
• STORAGE SHED
• FIRE PIT
• WELL-APPOINTED KITCHEN

Property features AI

Exterior

• Parking: Attached paved garage with 2 parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residential property
• Construction: Aluminum siding; Vinyl siding
• Exterior features: Asphalt roof; Lot approximately 0.32 acres

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas forced air heating; Ceiling fan(s) for cooling
• Interior features: Dishwasher; Microwave; Range; Refrigerator; Full basement with sump pump

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $4k ($51k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $360k).
• Cap rate 20.6% vs local median 5.0% in Vermilion — 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 81/100 on livability (#96 in OH, #1,481 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+; Watch: commute F.
• Vermilion Local (suburban): math 56% / reading 60% proficiency, ranked #316 of 656 in OH (top 48%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 142 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 128 units permitted in Erie County in 2024 (5 in 5+ unit buildings).
• At $8,362/mo this rent would consume 139% of the median local household income ($72k/yr) — 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 $11k 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 $101k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $137k; list at $360k implies a 163% gain — meaningful room to come down on a strong offer.

Recommended offer $359,700

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-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?
3. 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.
4. 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.
5. 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: 2.32% ✓
• Cap rate: 20.60%
• Cash-on-cash: 51.09%
• DSCR: 3.27
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $320,544
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6012 Conneaut Light Dr	0.03mi	4/3.0 (+1)	1,508 (-0%)	2mo	$375,000	$249	87
6028 Conneaut Lgt	0.07mi	3/2.0	1,437 (-5%)	4mo	$365,000	$254	85
6113 Edson St	0.07mi	4/2.0 (+1)	1,380 (-9%)	5mo	$260,000	$188	73
1099 Jackson St	0.16mi	3/1.0	1,368 (-10%)	3mo	$158,000	$115	70
5573 Martin	0.59mi	3/2.0	1,550 (+2%)	0mo	$329,900	$213	68
978 State St	0.47mi	3/1.5	1,440 (-5%)	12mo	$305,000	$212	58
5524 Hartford Ave	0.56mi	3/1.5	1,560 (+3%)	13mo	$160,000	$103	56
5572 South St	0.57mi	3/1.5	1,618 (+7%)	8mo	$347,000	$214	53
1033 Oakwood Dr	0.20mi	3/1.0	1,330 (-12%)	19mo	$204,000	$153	51

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: 48.9%
• Equity multiple: 3.13×
• Total profit: $214,865
• Equity at exit: $53,632

10-year hold

• IRR: 54.5%
• Equity multiple: 6.35×
• Total profit: $538,890
• Equity at exit: $31,100

Cash invested: $100,716 (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 44089

• Active inventory: 142
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $8,362 medium
• Mortgage (P&I): −$1,886
• Tax from tax record: −$281 /mo · $3,377/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,756
• Net cashflow: $4,288

Break-even live

Break-even rent $2,934

Max offer price $359,700

Occupancy floor 44%

Sensitivity live

Price	-10% $4,492	-5% $4,390	+0% $4,288	+5% $4,187	+10% $4,085
Rent	-10% $3,628	-5% $3,958	+0% $4,288	+5% $4,619	+10% $4,949
Rate	-1.0pp $4,470	-0.5pp $4,380	base $4,288	+0.5pp $4,195	+1.0pp $4,100

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: $89,925
• Closing costs: $10,791
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5012 Hollyview Dr Unit 1496126P Vermilion, OH	4.0	1.5	1679	$8,362	$4.98	44d	1	1.26mi

Listing history 9 events

1. 2026-06-18
   days on market $359,700 Active 12 DOM
2. 2026-06-17
   days on market $359,700 Active 11 DOM
3. 2026-06-16
   days on market $359,700 Active 10 DOM
4. 2026-06-15
   days on market $359,700 Active 9 DOM
5. 2026-06-13
   days on market $359,700 Active 7 DOM
6. 2026-06-09
   days on market $359,700 Active 3 DOM
7. 2026-06-08
   days on market $359,700 Active 2 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $359,700 Active 1 DOM

ⓘ 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: $3,377 · $281/mo
• Projected year-2 tax: $4,494 · $375/mo
• Expected delta: +$1,117/yr (+$93/mo · 33.1%)

ⓘ 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 · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $100,344
• − Mortgage interest: −$20,149
• − Property taxes: −$3,377
• − Insurance: −$1,798
• − Repairs & maintenance: −$8,028
• − Management: −$8,028
• − Depreciation: −$10,464
• Taxable income: $48,501
• Est. tax owed @ 24.0%: −$11,640
• After-tax cash flow: $39,820/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: Vermilion Local
• NCES district ID: 3904682
• Math proficiency: 56% ▼ -13.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $52,091
• Composite: 49.61/100
• National rank: #1981
• State rank: #316 of 656 in OH

Livability — Vermilion

• Score: 81/100
• State rank: #96
• US rank: #1481

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Vermilion, OH
• County: Erie · 78,232 people
• Metro: Sandusky, OH
• Population (ZIP): 15,873
• Household income: $72,045
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 5.8

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 3%
• Common ancestry: Romanian 7% Lithuanian 4% Slovak 2%
• Foreign-born: 1%
• Languages at home: 98% English-only · Other Indo-European 1%

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: ▼ -122.76%
• Current HPI: 206.8223
• 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

+162.7% since first listed

2 events — show timeline

• 2026-06-06 Listed $359,700 FAOR
• 2002-12-06 Sold (Public Records) $136,900 Public Records

Property tax history

+4.6%/yr

Latest (2025): $3,377 · -2.9% YoY. Source: county tax records.