1308 Stone St · Sandusky, OH 44870

$99,900

2 bd · 1.0 ba · 1,202 sqft · SingleFamily public records · 75 Days on market

Built 1920 4,356 sqft lot $83/sqft · at area comps Est $115k · 13% under

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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
• ARV discount +13.4/15.0
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming and inviting 2-bedroom property in Sandusky, where comfort, character, and potential come together beautifully. Inside, you'll find a warm and welcoming layout featuring both a spacious living room and a separate family room, offering flexible spaces for relaxing, gathering, or entertaining. The remodeled kitchen adds stylish appeal and everyday convenience, with appliances included so you can move right in and start enjoying your new home. A newer tankless hot water heater adds modern efficiency and value. Upstairs, the unfinished upper level presents an exciting opportunity to expand your living space with a future bedroom, home office, hobby room, or bonus area tailored to your needs. Outside, the backyard deck creates the perfect spot for morning coffee, summer evenings, or hosting friends and family, while the shed provides extra storage and the detached 1-car garage adds even more practicality. This home is full of warmth, functionality, and possibilities, making it a wonderful place to call your own.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $799 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 128 units permitted in Erie County in 2024 (5 in 5+ unit buildings).
• This rent runs 35% 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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 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: 1.82% ✓
• Cap rate: 15.89%
• Cash-on-cash: 34.28%
• DSCR: 2.53
• GRM: 4.6

CMA / ARV

• ARV (median comp): $115,112
• List price: $99,900
• Delta: -13.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1505 Central Ave	0.19mi	3/1.5 (+1)	1,208 (+0%)	0mo	$205,000	$170	83
1222 W Osborne St	0.17mi	3/2.0 (+1)	1,211 (+1%)	1mo	$70,000	$58	81
1313 Vine St	0.04mi	3/1.0 (+1)	1,116 (-7%)	1mo	$171,500	$154	81
1523 Central Ave	0.22mi	3/1.0 (+1)	1,152 (-4%)	3mo	$206,000	$179	75
1510 Pearl St	0.29mi	2/1.0	1,103 (-8%)	3mo	$47,000	$43	70
1015 W Washington St	0.56mi	3/1.0 (+1)	1,200 (-0%)	3mo	$1,300	$1	66
932 Madison St	0.29mi	3/1.0 (+1)	1,098 (-9%)	2mo	$162,000	$148	65
911 A St	0.16mi	3/1.0 (+1)	1,047 (-13%)	2mo	$115,000	$110	65
1720 Buchanan St	0.68mi	2/1.5	1,264 (+5%)	0mo	$169,500	$134	57
914 Hayes Ave	0.52mi	3/1.0 (+1)	1,320 (+10%)	1mo	$133,000	$101	54
1334 Lindsley St	0.44mi	3/1.0 (+1)	1,366 (+14%)	1mo	$143,000	$105	51
1805 Mills St	0.69mi	3/1.0 (+1)	1,352 (+12%)	2mo	$65,000	$48	40

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: 29.7%
• Equity multiple: 2.24×
• Total profit: $34,701
• Equity at exit: $14,895

10-year hold

• IRR: 37.0%
• Equity multiple: 4.42×
• Total profit: $95,736
• Equity at exit: $8,638

Cash invested: $27,972 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,822 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$75 /mo · $901/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $799

Break-even live

Break-even rent $811

Max offer price $99,900

Occupancy floor 51%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1515 W Perkins Ave Sandusky, OH	2.0	1.0	925	$925	$1.00	44d	1	0.78mi
156 E Market St Sandusky, OH	1.0–2.0	1.0–2.5	1266	$3,539	$2.79	44d	5	0.90mi
305 Perry St Sandusky, OH	1.0	1.0	750	$995	$1.33	44d	1	1.13mi

Listing history 17 events

1. 2026-06-19
   days on market $99,900 Active 75 DOM
2. 2026-06-18
   days on market $99,900 Active 74 DOM
3. 2026-06-17
   days on market $99,900 Active 73 DOM
4. 2026-06-16
   days on market $99,900 Active 72 DOM
5. 2026-06-15
   days on market $99,900 Active 71 DOM
6. 2026-06-14
   days on market $99,900 Active 69 DOM
7. 2026-06-12
   days on market $99,900 Active 68 DOM
8. 2026-06-09
   days on market $99,900 Active 65 DOM
9. 2026-06-08
   days on market $99,900 Active 64 DOM
10. 2026-06-07
    days on market $99,900 Active 63 DOM
11. 2026-06-03
    days on market $99,900 Active 59 DOM
12. 2026-06-02
    days on market $99,900 Active 58 DOM
13. 2026-06-01
    days on market $99,900 Active 57 DOM
14. 2026-05-31
    days on market $99,900 Active 56 DOM
15. 2026-05-30
    days on market $99,900 Active 55 DOM
16. 2026-04-05
    listed $99,900 Active 1052-char remark

    Show marketing remark (1052 chars)

    Welcome home to this charming and inviting 2-bedroom property in Sandusky, where comfort, character, and potential come together beautifully. Inside, you'll find a warm and welcoming layout featuring both a spacious living room and a separate family room, offering flexible spaces for relaxing, gathering, or entertaining. The remodeled kitchen adds stylish appeal and everyday convenience, with appliances included so you can move right in and start enjoying your new home. A newer tankless hot water heater adds modern efficiency and value. Upstairs, the unfinished upper level presents an exciting opportunity to expand your living space with a future bedroom, home office, hobby room, or bonus area tailored to your needs. Outside, the backyard deck creates the perfect spot for morning coffee, summer evenings, or hosting friends and family, while the shed provides extra storage and the detached 1-car garage adds even more practicality. This home is full of warmth, functionality, and possibilities, making it a wonderful place to call your own.

17. 2026-03-16
    historical $99,900 1052-char remark

    Show marketing remark (1052 chars)

    Welcome home to this charming and inviting 2-bedroom property in Sandusky, where comfort, character, and potential come together beautifully. Inside, you'll find a warm and welcoming layout featuring both a spacious living room and a separate family room, offering flexible spaces for relaxing, gathering, or entertaining. The remodeled kitchen adds stylish appeal and everyday convenience, with appliances included so you can move right in and start enjoying your new home. A newer tankless hot water heater adds modern efficiency and value. Upstairs, the unfinished upper level presents an exciting opportunity to expand your living space with a future bedroom, home office, hobby room, or bonus area tailored to your needs. Outside, the backyard deck creates the perfect spot for morning coffee, summer evenings, or hosting friends and family, while the shed provides extra storage and the detached 1-car garage adds even more practicality. This home is full of warmth, functionality, and possibilities, making it a wonderful place to call your own.

ⓘ 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: $901 · $75/mo
• Projected year-2 tax: $1,230 · $102/mo
• Expected delta: +$329/yr (+$27/mo · 36.4%)

ⓘ 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: $21,869
• − Mortgage interest: −$5,596
• − Property taxes: −$901
• − Insurance: −$500
• − Repairs & maintenance: −$1,749
• − Management: −$1,749
• − Depreciation: −$2,906
• Taxable income: $8,467
• Est. tax owed @ 24.0%: −$2,032
• After-tax cash flow: $7,557/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

+0.0% since first listed

2 events — show timeline

• 2026-04-05 Listed $99,900 NORIS
• 2026-03-16 Coming Soon $99,900 NORIS

Property tax history

-0.2%/yr

Latest (2025): $901 · -1.0% YoY. Source: county tax records.