1618 Mcdonough St · Sandusky, OH 44870

$400,000

6 bd · 2.0 ba · 2,270 sqft · MultiFamily public records · 491 Days on market

Built 1925 0.27 ac lot $176/sqft · 378% above area

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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
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Don't miss this incredible income-producing opportunity! This property features two houses, each with two spacious apartments, all on two lots (58-01216.000 58-01216.001) lots. With generous room sizes and washer/dryer hookups in every unit, these apartments offer comfort and convenience for tenants. The sale includes four refrigerators and four ranges. Major updates have already been completed, including all newer windows in 1618 and 21 newer windows in 1622 1/2, along with newer entry and screen doors for both houses. Plus, both homes feature glass block windows in the basement with a lifetime guarantee. To make things even easier for an investor, the seller covers water, trash, and insurance. With so many upgrades and minimal maintenance, this is a prime investment opportunity.

Key facts

• Newer screen doors
• Glass block windows
• Washer dryer hookups

Tags

• WASHER DRYER HOOKUPS
• NEWER WINDOWS
• NEWER ENTRY DOORS
• NEWER SCREEN DOORS
• GLASS BLOCK WINDOWS

What this means for you Summary

Snapshot

• This is a 6-bed/2.0-bath multifamily listed at $400k.

Deal economics

• At list price, monthly cash flow is $3k ($31k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $400k).
• Recommended offer: $352k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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; 128 units permitted in Erie County in 2024 (5 in 5+ unit buildings).
• At $6,247/mo this rent would consume 121% 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 $3k of loan paydown is wiped out by about $12k 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 $112k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 491 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $141k; list at $400k implies a 184% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $352,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 491 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 1.56% ✓
• Cap rate: 13.98%
• Cash-on-cash: 27.44%
• DSCR: 2.22
• GRM: 5.3

CMA / ARV

• ARV (median comp): $172,000
• List price: $400,000
• Delta: 132.56%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
612 W Osborne St	0.28mi	5/2.0 (-1)	2,507 (+10%)	11mo	$110,000	$44	55
1215 W Jefferson St	0.62mi	5/2.0 (-1)	2,226 (-2%)	12mo	$160,000	$72	52

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: 21.4%
• Equity multiple: 1.88×
• Total profit: $98,160
• Equity at exit: $59,641

10-year hold

• IRR: 29.5%
• Equity multiple: 3.63×
• Total profit: $294,932
• Equity at exit: $34,585

Cash invested: $112,000 (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: 21.3×

Monthly cashflow live

• Estimated rent: $6,247 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$110 /mo · $1,316/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,312
• Net cashflow: $2,561

Break-even live

Break-even rent $3,005

Max offer price $400,000

Occupancy floor 54%

Sensitivity live

Price	-10% $2,788	-5% $2,674	+0% $2,561	+5% $2,448	+10% $2,335
Rent	-10% $2,068	-5% $2,314	+0% $2,561	+5% $2,808	+10% $3,055
Rate	-1.0pp $2,763	-0.5pp $2,663	base $2,561	+0.5pp $2,458	+1.0pp $2,352

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$6,248
Total (4 units)			$6,247

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $400,000 Active 491 DOM
2. 2026-06-18
   days on market $400,000 Active 490 DOM
3. 2026-06-17
   days on market $400,000 Active 489 DOM
4. 2026-06-16
   days on market $400,000 Active 488 DOM
5. 2026-06-15
   days on market $400,000 Active 487 DOM
6. 2026-06-14
   days on market $400,000 Active 485 DOM
7. 2026-06-12
   days on market $400,000 Active 484 DOM
8. 2026-06-09
   days on market $400,000 Active 481 DOM
9. 2026-06-08
   days on market $400,000 Active 480 DOM
10. 2026-06-07
    days on market $400,000 Active 479 DOM
11. 2026-06-03
    days on market $400,000 Active 475 DOM
12. 2026-06-02
    days on market $400,000 Active 474 DOM
13. 2026-06-01
    days on market $400,000 Active 473 DOM
14. 2026-05-31
    days on market $400,000 Active 472 DOM
15. 2026-05-30
    days on market $400,000 Active 471 DOM
16. 2026-01-14
    status Active 791-char remark

    Show marketing remark (791 chars)

    Don't miss this incredible income-producing opportunity! This property features two houses, each with two spacious apartments, all on two lots (58-01216.000 58-01216.001) lots. With generous room sizes and washer/dryer hookups in every unit, these apartments offer comfort and convenience for tenants. The sale includes four refrigerators and four ranges. Major updates have already been completed, including all newer windows in 1618 and 21 newer windows in 1622 1/2, along with newer entry and screen doors for both houses. Plus, both homes feature glass block windows in the basement with a lifetime guarantee. To make things even easier for an investor, the seller covers water, trash, and insurance. With so many upgrades and minimal maintenance, this is a prime investment opportunity.

17. 2026-01-14
    historical 791-char remark

    Show marketing remark (791 chars)

    Don't miss this incredible income-producing opportunity! This property features two houses, each with two spacious apartments, all on two lots (58-01216.000 58-01216.001) lots. With generous room sizes and washer/dryer hookups in every unit, these apartments offer comfort and convenience for tenants. The sale includes four refrigerators and four ranges. Major updates have already been completed, including all newer windows in 1618 and 21 newer windows in 1622 1/2, along with newer entry and screen doors for both houses. Plus, both homes feature glass block windows in the basement with a lifetime guarantee. To make things even easier for an investor, the seller covers water, trash, and insurance. With so many upgrades and minimal maintenance, this is a prime investment opportunity.

18. 2025-08-14
    status Active 791-char remark

    Show marketing remark (791 chars)

    Don't miss this incredible income-producing opportunity! This property features two houses, each with two spacious apartments, all on two lots (58-01216.000 58-01216.001) lots. With generous room sizes and washer/dryer hookups in every unit, these apartments offer comfort and convenience for tenants. The sale includes four refrigerators and four ranges. Major updates have already been completed, including all newer windows in 1618 and 21 newer windows in 1622 1/2, along with newer entry and screen doors for both houses. Plus, both homes feature glass block windows in the basement with a lifetime guarantee. To make things even easier for an investor, the seller covers water, trash, and insurance. With so many upgrades and minimal maintenance, this is a prime investment opportunity.

19. 2025-08-14
    historical 791-char remark

    Show marketing remark (791 chars)

    Don't miss this incredible income-producing opportunity! This property features two houses, each with two spacious apartments, all on two lots (58-01216.000 58-01216.001) lots. With generous room sizes and washer/dryer hookups in every unit, these apartments offer comfort and convenience for tenants. The sale includes four refrigerators and four ranges. Major updates have already been completed, including all newer windows in 1618 and 21 newer windows in 1622 1/2, along with newer entry and screen doors for both houses. Plus, both homes feature glass block windows in the basement with a lifetime guarantee. To make things even easier for an investor, the seller covers water, trash, and insurance. With so many upgrades and minimal maintenance, this is a prime investment opportunity.

20. 2025-02-13
    listed $400,000 Active 791-char remark

    Show marketing remark (791 chars)

    Don't miss this incredible income-producing opportunity! This property features two houses, each with two spacious apartments, all on two lots (58-01216.000 58-01216.001) lots. With generous room sizes and washer/dryer hookups in every unit, these apartments offer comfort and convenience for tenants. The sale includes four refrigerators and four ranges. Major updates have already been completed, including all newer windows in 1618 and 21 newer windows in 1622 1/2, along with newer entry and screen doors for both houses. Plus, both homes feature glass block windows in the basement with a lifetime guarantee. To make things even easier for an investor, the seller covers water, trash, and insurance. With so many upgrades and minimal maintenance, this is a prime investment opportunity.

21. 2005-11-30
    soldstatus $141,000
22. 1991-07-01
    soldstatus $48,000

ⓘ 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: $1,316 · $110/mo
• Projected year-2 tax: $3,778 · $315/mo
• Expected delta: +$2,462/yr (+$205/mo · 187.2%)

ⓘ 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 ≥95°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: $74,964
• − Mortgage interest: −$22,406
• − Property taxes: −$1,316
• − Insurance: −$2,000
• − Repairs & maintenance: −$5,997
• − Management: −$5,997
• − Depreciation: −$11,636
• Taxable income: $25,612
• Est. tax owed @ 24.0%: −$6,147
• After-tax cash flow: $24,587/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

+733.3% since first listed

7 events — show timeline

• 2026-01-14 Relisted — FAOR
• 2026-01-14 Delisted — FAOR
• 2025-08-14 Relisted — FAOR
• 2025-08-14 Delisted — FAOR
• 2025-02-13 Listed $400,000 FAOR
• 2005-11-30 Sold (Public Records) $141,000 Public Records
• 1991-07-01 Sold (Public Records) $48,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $1,316 · -1.0% YoY. Source: county tax records.