4004 Donair Dr · Sandusky, OH 44870

$199,000

3 bd · 1.0 ba · 1,246 sqft · SingleFamily public records · 3 Days on market

Built 1962 0.28 ac lot Est $201k · at est.

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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 +13.6/30.0
• ARV discount +7.9/15.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• DSCR +4.1/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

OPEN HOUSE SUNDAY, MAY 31st from Noon-2 PM!!This lovingly maintained, one-owner home is ready for a fresh start with its next lucky family. Move-in ready and impeccably cared for, you can settle in comfortably now and add your own cosmetic updates over time if desired. Major updates include: New roof (2023) New furnace and central A/C (2025) Hot water tank replaced in 2019 Siding approximately 8-10 years oldSituated on over a 1/4 acre lot in desirable Perkins Township, this property offers plenty of outdoor space to enjoy. The basement includes more than 200 square feet of additional area that could easily become a second living room, recreation space, home office, or entertaining area. A n

Key facts

• Hot water tank
• New furnace
• Central a c

Tags

• NEW ROOF
• NEW FURNACE
• CENTRAL A C
• HOT WATER TANK
• SIDING
• OUTDOOR SPACE

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Subdivision: Southgate Acres Subdn
• Construction: Asphalt roof
• Exterior features: Vinyl siding; Shed on the property

Interior

• Kitchen: Cooktop, Oven, Dishwasher, Refrigerator
• Bedrooms: Bedrooms not specified
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Cooktop, Dishwasher, Oven, Refrigerator; Washer and Dryer included; Full basement
• Laundry & utility: Washer and Dryer; Utility connections present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $11 ($132/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 $157k (20.9% below list).
• Recommended offer: $157k (20.9% below list) — sets the bar for 1% rule.

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.
• Perkins Local (town): math 55% / reading 61% proficiency, ranked #303 of 656 in OH (top 46%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Furry Elementary School (506 students, 26% FRL); Briar Middle School (math 56% / reading 63%, grade B, #271 of 654 statewide, top 43%, 414 students, 34% FRL); Perkins High School (math 42% / reading 67%, grade C-, #303 of 781 statewide, top 42%, 562 students, 30% FRL) — zoned schools at 30% FRL track the district average.
• Market conditions: 212 active listings in the ZIP; 128 units permitted in Erie County in 2024 (5 in 5+ unit buildings).
• This rent runs 30% 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 $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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $157,426 (20.9% below list)

Questions for the listing agent

1. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $200,606
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4004 Donair Dr	0.00mi	3/1.0	1,246 (0%)	0mo	$222,000	$178	100
3818 Donair Dr	0.11mi	3/1.0	1,181 (-5%)	8mo	$185,000	$157	80
3811 Matthes Ave	0.40mi	3/1.0	1,189 (-5%)	4mo	$211,000	$177	70
120 Schiller Ave	0.37mi	3/2.0	1,236 (-1%)	12mo	$190,000	$154	68
506 Birchwood Dr	0.16mi	3/2.0	1,152 (-8%)	15mo	$163,000	$141	64
119 Gildona Dr	0.27mi	4/1.5 (+1)	1,315 (+6%)	16mo	$155,000	$118	58
402 Meadow Ln	0.20mi	3/2.0	1,367 (+10%)	16mo	$220,000	$161	58
317 Michigan Ave	0.20mi	3/2.0	1,400 (+12%)	11mo	$262,000	$187	57
3807 Matthes Ave	0.41mi	3/2.0	1,355 (+9%)	10mo	$285,000	$210	54
313 Michigan Ave	0.20mi	3/2.0	1,386 (+11%)	21mo	$205,000	$148	51
311 Michigan Ave	0.20mi	3/1.5	1,393 (+12%)	23mo	$205,000	$147	50
3619 Columbus Ave	0.46mi	3/1.5	1,148 (-8%)	20mo	$199,000	$173	47

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-31,610
• Equity at exit: $29,672

10-year hold

• IRR: -7.7%
• Equity multiple: 0.52×
• Total profit: $-26,884
• Equity at exit: $17,206

Cash invested: $55,720 (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: 212
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,574 medium
• Mortgage (P&I): −$1,044
• Tax from tax record: −$106 /mo · $1,274/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $11

Break-even live

Break-even rent $1,560

Max offer price $199,000

Occupancy floor 94%

Sensitivity live

Price	-10% $124	-5% $67	+0% $11	+5% $-45	+10% $-102
Rent	-10% $-113	-5% $-51	+0% $11	+5% $73	+10% $135
Rate	-1.0pp $111	-0.5pp $62	base $11	+0.5pp $-41	+1.0pp $-93

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-06-02
   status $199,000 Pending 3 DOM
2. 2026-06-01
   days on market $199,000 Active 3 DOM
3. 2026-05-31
   days on market $199,000 Active 2 DOM
4. 2026-05-29
   listed $199,000 Active

ⓘ 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: $1,274 · $106/mo
• Projected year-2 tax: $2,189 · $182/mo
• Expected delta: +$915/yr (+$76/mo · 71.8%)

ⓘ 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: $18,891
• − Mortgage interest: −$11,147
• − Property taxes: −$1,274
• − Insurance: −$995
• − Repairs & maintenance: −$1,511
• − Management: −$1,511
• − Depreciation: −$5,789
• Taxable loss: −$3,337
• Est. tax savings @ 24.0%: +$801
• After-tax cash flow: $933/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: Perkins Local
• NCES district ID: 3904681
• Math proficiency: 55% ▼ -10.00%
• Reading proficiency: 61% ▼ -7.00%
• Median HH income: $59,013
• Composite: 50.26/100
• National rank: #1890
• State rank: #303 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

• 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

1 event — show timeline

• 2026-05-29 Listed $199,000 FAOR

Property tax history

-0.5%/yr

Latest (2025): $1,274 · -28.9% YoY. Source: county tax records.