600 Sunset Dr

Upper Sandusky, OH 43351

$1F

3 bd · 1.5 ba · 1,680 sqft · Built 1977 · SingleFamily · Pending · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,040/mo
• Mortgage (P&I): −$1,190
• Tax + insurance: −$378
• HOA: −$0
• Vac / Maint / Mgmt: −$218
• Net cashflow: $-747/mo
• Annual: $-8,963/yr
• Cap rate: 2.34%
• Cash-on-cash: -14.11%
• DSCR: 0.37
• 1% rule: 0.46%
• Cash to close: $63,537

Investor read

• This is a 3-bed/1.5-bath single-family listed at $1.
• At list price, monthly cash flow is $-747 ($-9k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $1).
• It's been on market 32 days — a 3% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• In year one you build about $8k of equity ($2k loan paydown + $6k appreciation (2.9% local appreciation)).
• Location reads 75/100 on livability (#248 in OH, #3,965 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, amenities F, commute F.
• Upper Sandusky Exempted Village (town): math 60% / reading 64% proficiency, ranked #268 of 656 in OH (top 41%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Watch-outs: property tax is 340378.6% of price.
• Market conditions: 41 active listings in the ZIP; 20 units permitted in Wyandot County in 2024 (0 in 5+ unit buildings).
• Wyandot County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 2.3% vs local median 3.6% in Upper Sandusky — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent is only 17% of the median local income ($72k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Questions for listing agent

• 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?
• It's been on market 32 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
• Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.