515 W 2nd St · Port Clinton, OH 43452

$239,000

2 bd · 1.5 ba · 896 sqft · SingleFamily public records · 73 Days on market

Built 2005 0.40 ac lot $267/sqft · 67% above area Est $164k · 46% over

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Why this score? — see what drove the F 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 +13.4/30.0
• Schools +4.8/10.0
• DSCR +4.0/10.0
• Livability +3.6/5.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Victorian style home! Custom built beauty features front porch to relax, read or simply enjoy nature. A decorative lighthouse illuminates your front yard. The first floor offers a spacious kitchen, dining area, living room and convenient half bath. The second floor includes a primary bedroom, second bedroom and full bath. Durable laminate flooring throughout. Newer wood deck (2025), newer furnace and heat pump (2023) and newer chain link fence (2025). This property includes two parcels with potential for future expansion. Year round or investment opportunity!

Key facts

• Newer wood deck
• Victorian style home
• Newer furnace

Tags

• VICTORIAN STYLE HOME
• FRONT PORCH
• SPACIOUS KITCHEN
• NEWER WOOD DECK
• NEWER FURNACE
• NEWER HEAT PUMP

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $239k.

Deal economics

• At list price, monthly cash flow is $2 ($29/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 $188k (21.3% below list).
• Recommended offer: $188k (21.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 2.4% 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+, health & safety B+; 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.
• Zoned schools: Bataan Memorial Primary School (352 students, 79% FRL); Port Clinton Middle School (math 59% / reading 64%, grade B+, #248 of 654 statewide, top 38%, 350 students, 45% FRL); Port Clinton High School (math 37% / reading 62%, grade D, #390 of 781 statewide, top 54%, 509 students, 38% FRL).
• Market conditions: 224 active listings in the ZIP; 128 units permitted in Ottawa County in 2024 (0 in 5+ unit buildings).
• This rent runs 35% 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 $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($225k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.
• Current owner paid $15k; list at $239k implies a 1493% gain — meaningful room to come down on a strong offer.

Recommended offer $188,058 (21.3% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 21% 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. 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?
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: 0.79% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.04%
• DSCR: 1.00
• GRM: 10.6

CMA / ARV

• ARV (median comp): $163,833
• List price: $239,000
• Delta: 45.88%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 Fremont Rd	0.27mi	2/1.0	876 (-2%)	2mo	$154,000	$176	80
410 Harrison St	0.25mi	2/1.0	996 (+11%)	14mo	$193,000	$194	56
418 Harrison St	0.27mi	2/2.0	800 (-11%)	16mo	$169,900	$212	54
121 Alice St	0.68mi	3/2.0 (+1)	1,024 (+14%)	23mo	$205,000	$200	18

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: -16.3%
• Equity multiple: 0.42×
• Total profit: $-38,651
• Equity at exit: $35,636

10-year hold

• IRR: -8.0%
• Equity multiple: 0.50×
• Total profit: $-33,765
• Equity at exit: $20,664

Cash invested: $66,920 (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: 224
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,881 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$130 /mo · $1,564/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $2

Break-even live

Break-even rent $1,878

Max offer price $239,000

Occupancy floor 95%

Sensitivity live

Price	-10% $138	-5% $70	+0% $2	+5% $-65	+10% $-133
Rent	-10% $-146	-5% $-72	+0% $2	+5% $77	+10% $151
Rate	-1.0pp $123	-0.5pp $63	base $2	+0.5pp $-60	+1.0pp $-123

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $239,000 Active 73 DOM
2. 2026-06-21
   days on market $239,000 Active 72 DOM
3. 2026-06-18
   days on market $239,000 Active 70 DOM
4. 2026-06-17
   days on market $239,000 Active 69 DOM
5. 2026-06-16
   days on market $239,000 Active 68 DOM
6. 2026-06-15
   days on market $239,000 Active 67 DOM
7. 2026-06-13
   days on market $239,000 Active 65 DOM
8. 2026-06-12
   days on market $239,000 Active 64 DOM
9. 2026-06-09
   days on market $239,000 Active 61 DOM
10. 2026-06-08
    days on market $239,000 Active 60 DOM
11. 2026-06-08
    days on market $239,000 Active 59 DOM
12. 2026-06-07
    days on market $239,000 Active 58 DOM
13. 2026-06-04
    days on market $239,000 Active 55 DOM
14. 2026-06-02
    days on market $239,000 Active 54 DOM
15. 2026-06-01
    days on market $239,000 Active 53 DOM
16. 2026-05-31
    days on market $239,000 Active 52 DOM
17. 2026-04-09
    listed $239,000 Active 574-char remark

    Show marketing remark (575 chars)

    Charming Victorian style home! Custom built beauty features front porch to relax, read or simply enjoy nature. A decorative lighthouse illuminates your front yard. The first floor offers a spacious kitchen, dining area, living room and convenient half bath. The second floor includes a primary bedroom, second bedroom and full bath. Durable laminate flooring throughout. Newer wood deck (2025), newer furnace and heat pump (2023) and newer chain link fence (2025). This property includes two parcels with potential for future expansion. Year round or investment opportunity!

18. 2026-04-09
    listed $239,000 Active 575-char remark

    Show marketing remark (575 chars)

    Charming Victorian style home! Custom built beauty features front porch to relax, read or simply enjoy nature. A decorative lighthouse illuminates your front yard. The first floor offers a spacious kitchen, dining area, living room and convenient half bath. The second floor includes a primary bedroom, second bedroom and full bath. Durable laminate flooring throughout. Newer wood deck (2025), newer furnace and heat pump (2023) and newer chain link fence (2025). This property includes two parcels with potential for future expansion. Year round or investment opportunity!

19. 2025-09-09
    historical
20. 2025-04-16
    price $239,000
21. 2025-04-15
    price $239,000
22. 2025-03-11
    status Active
23. 2025-03-09
    historical
24. 2024-09-09
    listed $249,000 Active
25. 1991-03-14
    soldstatus $15,000

ⓘ 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: $1,564 · $130/mo
• Projected year-2 tax: $2,646 · $221/mo
• Expected delta: +$1,082/yr (+$90/mo · 69.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $22,567
• − Mortgage interest: −$13,388
• − Property taxes: −$1,564
• − Insurance: −$1,195
• − Repairs & maintenance: −$1,805
• − Management: −$1,805
• − Depreciation: −$6,953
• Taxable loss: −$4,143
• Est. tax savings @ 24.0%: +$994
• After-tax cash flow: $1,023/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

+1493.3% since first listed

9 events — show timeline

• 2026-04-09 Listed $239,000 FAOR
• 2026-04-09 Listed $239,000 MLSNOW
• 2025-09-09 Listing Removed — MLSNOW
• 2025-04-16 Price Changed $239,000 FAOR
• 2025-04-15 Price Changed $239,000 MLSNOW
• 2025-03-11 Relisted — MLSNOW
• 2025-03-09 Listing Removed — MLSNOW
• 2024-09-09 Listed $249,000 MLSNOW
• 1991-03-14 Sold (Public Records) $15,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $1,564 · -2.0% YoY. Source: county tax records.