1 E Shoreway Dr · Sandusky, OH 44870

$180,000

3 bd · 2.0 ba · 1,440 sqft · Manufactured · 263 Days on market

Built 2025 Good condition

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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 +17.5/30.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 1% rule +4.7/10.0
• Livability +4.2/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come tour this brand new home! This 3 bedroom, 2 bathroom home includes brand new kitchen appliances, a master suite and more. Call the office to schedule your tour today!

Key facts

• On site management
• 24 hour maintenance
• Close to cedar point

Tags

• OPEN CONCEPT FLOOR PLANS
• 24 HOUR MAINTENANCE
• ON SITE MANAGEMENT
• CLOSE TO CEDAR POINT
• NEARBY CAMPGROUNDS
• PIPE CREEK WILDLIFE AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (2.8% below list).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.

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.
• Zoned schools: The Sandusky Intermediate School (math 26% / reading 38%, grade F, #1,135 of 1,584 statewide, top 73%, 909 students, 0% FRL); Sandusky Middle School (math 25% / reading 32%, grade F, #580 of 654 statewide, top 89%, 468 students, 0% FRL); Sandusky High School (math 17% / reading 41%, grade F, #627 of 781 statewide, top 81%, 1,004 students, 0% FRL) — zoned schools average 0% FRL vs 71% district-wide (71 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 210 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).
• This rent runs 34% of the median local income ($62k/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 $5k 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

• It's been on market 263 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.97% ✗
• Cap rate: 7.22%
• Cash-on-cash: 3.30%
• DSCR: 1.15
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $84,960
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 Palmer Dr	0.22mi	3/2.0	1,568 (+9%)	14mo	$75,000	$48	63
143 W Shoreway Dr #143	0.35mi	4/2.0 (+1)	1,500 (+4%)	14mo	$88,000	$59	60

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: -11.1%
• Equity multiple: 0.60×
• Total profit: $-20,324
• Equity at exit: $26,839

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-6,238
• Equity at exit: $15,563

Cash invested: $50,400 (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: 210
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,750 medium
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $138

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 87%

Sensitivity live

Price	-10% $263	-5% $201	+0% $138	+5% $76	+10% $14
Rent	-10% $0	-5% $69	+0% $138	+5% $208	+10% $277
Rate	-1.0pp $229	-0.5pp $184	base $138	+0.5pp $92	+1.0pp $44

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
122 Redwood Dr Sandusky, OH	2.0	2.0	1337	$1,978	$1.48	45d	8	0.24mi
1705 W Shoreway Dr Sandusky, OH	3.0	2.0	1512	$1,412	$0.93	45d	6	0.29mi

Listing history 18 events

1. 2026-06-21
   days on market $180,000 Active 263 DOM
2. 2026-06-19
   days on market $180,000 Active 261 DOM
3. 2026-06-18
   days on market $180,000 Active 260 DOM
4. 2026-06-17
   days on market $180,000 Active 259 DOM
5. 2026-06-16
   days on market $180,000 Active 258 DOM
6. 2026-06-15
   days on market $180,000 Active 257 DOM
7. 2026-06-14
   days on market $180,000 Active 255 DOM
8. 2026-06-12
   days on market $180,000 Active 254 DOM
9. 2026-06-09
   days on market $180,000 Active 251 DOM
10. 2026-06-08
    days on market $180,000 Active 250 DOM
11. 2026-06-07
    days on market $180,000 Active 249 DOM
12. 2026-06-03
    days on market $180,000 Active 245 DOM
13. 2026-06-02
    days on market $180,000 Active 244 DOM
14. 2026-06-01
    days on market $180,000 Active 243 DOM
15. 2026-05-31
    days on market $180,000 Active 242 DOM
16. 2026-05-30
    days on market $180,000 Active 241 DOM
17. 2025-11-03
    price $180,000 171-char remark

    Show marketing remark (171 chars)

    Come tour this brand new home! This 3 bedroom, 2 bathroom home includes brand new kitchen appliances, a master suite and more. Call the office to schedule your tour today!

18. 2025-10-01
    listed $18,000,000 Active 171-char remark

    Show marketing remark (171 chars)

    Come tour this brand new home! This 3 bedroom, 2 bathroom home includes brand new kitchen appliances, a master suite and more. Call the office to schedule your tour today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,998
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$5,236
• Taxable loss: −$1,281
• Est. tax savings @ 24.0%: +$307
• After-tax cash flow: $1,969/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 · 12 photos

Good 80/100 Cosmetic rehab

This brand new 3-bedroom, 2-bathroom manufactured home is in excellent condition with no visible repairs needed. It has a fresh paint job and new kitchen appliances, making it move-in ready. Consider painting the exterior and replacing the carpet with hardwood to further increase its value.

Value-add opportunities

• Both Paint exterior — Fresh paint can enhance curb appeal and value
• Both Replace carpet with hardwood — Hardwood flooring can increase both resale and rental value
• Both Install smart home devices — Smart home devices can increase both resale and rental value by making the home more modern and energy-efficient

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Fresh paint can enhance curb appeal and value ↑
• Both Replace carpet with hardwood — Hardwood flooring can increase both resale and rental value ↑
• Both Install smart home devices — Smart home devices can increase both resale and rental value by making the home more modern and energy-efficient ↑

ⓘ 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

-99.0% since first listed

2 events — show timeline

• 2025-11-03 Price Changed $180,000 Zillow
• 2025-10-01 Listed $18,000,000 Zillow