4803 Richmond Cir · Sandusky, OH 44870

$144,900

3 bd · 1.0 ba · 925 sqft · SingleFamily public records · 32 Days on market

Built 1957 7,279 sqft lot Est $173k · 16% under

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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 +18.4/30.0
• ARV discount +14.8/15.0
• DSCR +5.8/10.0
• 1% rule +5.3/10.0
• Schools +5.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

One story 3 bedroom home in PERKINS with an oversized 2 car heated garage that includes an attached workshop! Large concrete patio added in 2022, furnace and central air replaced 8 years ago, roof approximately 11 years old, several new doors and updates throughout. Square footage, measurements and dates are approximate.

Key facts

• 7,279 sq ft lot
• 2 garage spots
• Built 1957

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• 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.
• Market conditions: 209 active listings in the ZIP; 128 units permitted in Erie County in 2024 (5 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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

• It's been on market 32 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,553 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.03% ✓
• Cap rate: 7.42%
• Cash-on-cash: 4.03%
• DSCR: 1.18
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $172,975
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4923 Lisbon Cir	0.14mi	3/1.0	925 (0%)	2mo	$179,000	$194	92
4925 Lisbon Cir	0.14mi	3/1.0	925 (0%)	4mo	$183,000	$198	90
4913 Lisbon Cir	0.11mi	3/1.0	925 (0%)	6mo	$173,000	$187	90
5009 Dallas Ave	0.17mi	3/1.0	925 (0%)	11mo	$155,000	$168	83
204 Boston Rd	0.24mi	3/1.0	925 (0%)	9mo	$189,000	$204	81
318 Boston Rd	0.26mi	3/1.0	925 (0%)	10mo	$160,000	$173	79
408 Boston	0.28mi	3/1.0	925 (0%)	14mo	$150,000	$162	75

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: -10.0%
• Equity multiple: 0.64×
• Total profit: $-14,759
• Equity at exit: $21,605

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-1,486
• Equity at exit: $12,528

Cash invested: $40,572 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,495 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$224 /mo · $2,693/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $136

Break-even live

Break-even rent $1,322

Max offer price $144,900

Occupancy floor 86%

Sensitivity live

Price	-10% $218	-5% $177	+0% $136	+5% $95	+10% $54
Rent	-10% $18	-5% $77	+0% $136	+5% $195	+10% $254
Rate	-1.0pp $209	-0.5pp $173	base $136	+0.5pp $99	+1.0pp $60

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2023-09-28
   soldstatus $165,000
2. 2023-09-26
   soldstatus $165,000 Closed 322-char remark

   Show marketing remark (322 chars)

   One story 3 bedroom home in PERKINS with an oversized 2 car heated garage that includes an attached workshop! Large concrete patio added in 2022, furnace and central air replaced 8 years ago, roof approximately 11 years old, several new doors and updates throughout. Square footage, measurements and dates are approximate.

3. 2023-09-25
   status Pending

   Show marketing remark (322 chars)

   One story 3 bedroom home in PERKINS with an oversized 2 car heated garage that includes an attached workshop! Large concrete patio added in 2022, furnace and central air replaced 8 years ago, roof approximately 11 years old, several new doors and updates throughout. Square footage, measurements and dates are approximate.

4. 2023-09-25
   status Pending 322-char remark

   Show marketing remark (322 chars)

   One story 3 bedroom home in PERKINS with an oversized 2 car heated garage that includes an attached workshop! Large concrete patio added in 2022, furnace and central air replaced 8 years ago, roof approximately 11 years old, several new doors and updates throughout. Square footage, measurements and dates are approximate.

5. 2023-08-24
   listed Active Under Contract
6. 2023-08-16
   historical Contingent 322-char remark

   Show marketing remark (322 chars)

   One story 3 bedroom home in PERKINS with an oversized 2 car heated garage that includes an attached workshop! Large concrete patio added in 2022, furnace and central air replaced 8 years ago, roof approximately 11 years old, several new doors and updates throughout. Square footage, measurements and dates are approximate.

7. 2023-08-15
   listed $144,900 Active 322-char remark

   Show marketing remark (322 chars)

   One story 3 bedroom home in PERKINS with an oversized 2 car heated garage that includes an attached workshop! Large concrete patio added in 2022, furnace and central air replaced 8 years ago, roof approximately 11 years old, several new doors and updates throughout. Square footage, measurements and dates are approximate.

8. 2023-08-15
   listed $144,900

   Show marketing remark (322 chars)

   One story 3 bedroom home in PERKINS with an oversized 2 car heated garage that includes an attached workshop! Large concrete patio added in 2022, furnace and central air replaced 8 years ago, roof approximately 11 years old, several new doors and updates throughout. Square footage, measurements and dates are approximate.

9. 2008-02-08
   soldstatus $76,200 178-char remark

   Show marketing remark (178 chars)

   * Perkins Twp Ranch Home Under $80,000! * The Outside Is Finished - Newer Roof, Windows & Siding * Oversize 2 Car Garage Plus Workshop (12 X 24 ) * Motivated Seller!

10. 2008-02-08
    soldstatus $76,200

    Show marketing remark (178 chars)

    * Perkins Twp Ranch Home Under $80,000! * The Outside Is Finished - Newer Roof, Windows & Siding * Oversize 2 Car Garage Plus Workshop (12 X 24 ) * Motivated Seller!

11. 2007-08-13
    listed $79,900 178-char remark

    Show marketing remark (178 chars)

    * Perkins Twp Ranch Home Under $80,000! * The Outside Is Finished - Newer Roof, Windows & Siding * Oversize 2 Car Garage Plus Workshop (12 X 24 ) * Motivated Seller!

ⓘ 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: $2,693 · $224/mo
• Projected year-2 tax: $2,693 · $224/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 ≥96°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: $17,937
• − Mortgage interest: −$8,117
• − Property taxes: −$2,693
• − Insurance: −$724
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − Depreciation: −$4,215
• Taxable loss: −$683
• Est. tax savings @ 24.0%: +$164
• After-tax cash flow: $1,798/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

+106.5% since first listed

11 events — show timeline

• 2023-09-28 Sold (Public Records) $165,000 Public Records
• 2023-09-26 Sold (MLS) $165,000 MLSNOW
• 2023-09-25 Pending — FAOR
• 2023-09-25 Pending — MLSNOW
• 2023-08-24 Listed — FAOR
• 2023-08-16 Contingent — MLSNOW
• 2023-08-15 Listed $144,900 FAOR
• 2023-08-15 Listed $144,900 MLSNOW
• 2008-02-08 Sold (Public Records) $76,200 Public Records
• 2008-02-08 Sold (MLS) $76,200 MLSNOW
• 2007-08-13 Listed $79,900 MLSNOW

Property tax history

+7.6%/yr

Latest (2025): $2,693 · +1.9% YoY. Source: county tax records.