1330 Carr St · Sandusky, OH 44870

$195,000

3 bd · 2.0 ba · 1,828 sqft · MultiFamily public records · 146 Days on market

Built 1901 10,080 sqft lot $107/sqft · 67% above area Est $132k · 48% over

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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Excellent investment opportunity in the heart of Sandusky! This fully rented duplex offers immediate cash flow and a strong addition to any portfolio. The upper unit features 2 bedrooms and 1 full bathroom, while the lower unit offers 3 bedrooms and 1 full bathroom, providing flexible rental appeal. Both units are currently occupied, making this a true turnkey income-producing property. Located in a desirable and convenient area near shopping, dining, schools, and major routes, this property is well-positioned for long-term rental demand. Whether you're expanding your portfolio or stepping into investment ownership, this is a smart addition to any portfolio.

Key facts

• Immediate cash flow
• Fully rented duplex
• 0.23 acre lot

Tags

• FULLY RENTED DUPLEX
• IMMEDIATE CASH FLOW
• LONG TERM RENTAL DEMAND

What this means for you Summary

Snapshot

• This is a 1×2bd/1ba + 1×3bd/1ba units multifamily listed at $195k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $702/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $195k).
• Recommended offer: $172k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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 $3,333/mo this rent would consume 64% 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 $1k of loan paydown is wiped out by about $6k 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 $55k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $95k; list at $195k implies a 105% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $171,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1901 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.71% ✓
• Cap rate: 14.93%
• Cash-on-cash: 30.86%
• DSCR: 2.37
• GRM: 4.9

CMA / ARV

• ARV (median comp): $131,950
• List price: $195,000
• Delta: 47.78%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.6%
• Equity multiple: 2.06×
• Total profit: $57,799
• Equity at exit: $29,075

10-year hold

• IRR: 33.3%
• Equity multiple: 4.03×
• Total profit: $165,382
• Equity at exit: $16,860

Cash invested: $54,600 (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: 10.8×

Monthly cashflow live

• Estimated rent: $3,333 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$125 /mo · $1,503/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$700
• Net cashflow: $1,404

Break-even live

Break-even rent $1,556

Max offer price $195,000

Occupancy floor 53%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,510
1× unit	3	1	$1,823
Total (2 units)			$3,333

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
156 E Market St Sandusky, OH	1.0–2.0	1.0–2.5	1266	$3,539	$2.79	43d	5	0.96mi
1032 Perry St Sandusky, OH	4.0	2.5	1845	$850	$0.46	43d	1	1.15mi

Listing history 19 events

1. 2026-06-19
   days on market $195,000 Active 146 DOM
2. 2026-06-18
   days on market $195,000 Active 145 DOM
3. 2026-06-17
   days on market $195,000 Active 144 DOM
4. 2026-06-16
   days on market $195,000 Active 143 DOM
5. 2026-06-15
   days on market $195,000 Active 142 DOM
6. 2026-06-14
   days on market $195,000 Active 140 DOM
7. 2026-06-12
   days on market $195,000 Active 139 DOM
8. 2026-06-09
   days on market $195,000 Active 136 DOM
9. 2026-06-08
   days on market $195,000 Active 135 DOM
10. 2026-06-07
    days on market $195,000 Active 134 DOM
11. 2026-06-03
    days on market $195,000 Active 130 DOM
12. 2026-06-02
    days on market $195,000 Active 129 DOM
13. 2026-06-01
    days on market $195,000 Active 128 DOM
14. 2026-05-31
    days on market $195,000 Active 127 DOM
15. 2026-05-30
    days on market $195,000 Active 126 DOM
16. 2026-04-17
    price $195,000 666-char remark

    Show marketing remark (666 chars)

    Excellent investment opportunity in the heart of Sandusky! This fully rented duplex offers immediate cash flow and a strong addition to any portfolio. The upper unit features 2 bedrooms and 1 full bathroom, while the lower unit offers 3 bedrooms and 1 full bathroom, providing flexible rental appeal. Both units are currently occupied, making this a true turnkey income-producing property. Located in a desirable and convenient area near shopping, dining, schools, and major routes, this property is well-positioned for long-term rental demand. Whether you're expanding your portfolio or stepping into investment ownership, this is a smart addition to any portfolio.

17. 2026-01-23
    listed $200,000 Active 666-char remark

    Show marketing remark (666 chars)

    Excellent investment opportunity in the heart of Sandusky! This fully rented duplex offers immediate cash flow and a strong addition to any portfolio. The upper unit features 2 bedrooms and 1 full bathroom, while the lower unit offers 3 bedrooms and 1 full bathroom, providing flexible rental appeal. Both units are currently occupied, making this a true turnkey income-producing property. Located in a desirable and convenient area near shopping, dining, schools, and major routes, this property is well-positioned for long-term rental demand. Whether you're expanding your portfolio or stepping into investment ownership, this is a smart addition to any portfolio.

18. 2021-08-02
    soldstatus $95,000
19. 2002-12-19
    soldstatus $72,000

ⓘ 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: $1,503 · $125/mo
• Projected year-2 tax: $2,272 · $189/mo
• Expected delta: +$770/yr (+$64/mo · 51.2%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,996
• − Mortgage interest: −$10,923
• − Property taxes: −$1,503
• − Insurance: −$975
• − Repairs & maintenance: −$3,200
• − Management: −$3,200
• − Depreciation: −$5,673
• Taxable income: $14,523
• Est. tax owed @ 24.0%: −$3,486
• After-tax cash flow: $13,362/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

+170.8% since first listed

4 events — show timeline

• 2026-04-17 Price Changed $195,000 FAOR
• 2026-01-23 Listed $200,000 FAOR
• 2021-08-02 Sold (Public Records) $95,000 Public Records
• 2002-12-19 Sold (Public Records) $72,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $1,503 · -1.0% YoY. Source: county tax records.