| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 41st | Good |
| Demographics | 66th | Good |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1007 E Bogart Rd, Sandusky, OH, 44870, US |
| Region / Metro | Sandusky |
| Year of Construction | 1995 |
| Units | 93 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1007 E Bogart Rd, Sandusky OH Multifamily Investment
Renter affordability and steady amenity access in the surrounding neighborhood point to durable tenant retention, according to WDSuite’s CRE market data.
The property sits in a rural-designated neighborhood of Sandusky that ranks 1st among 26 metro neighborhoods overall (A+). Nearby conveniences are relatively strong: restaurants and cafes are in the top quartile among 26 metro neighborhoods, while grocery access is above the metro median. Childcare options rank lower (26th of 26), which may shape the resident profile more toward working adults and downsizers.
Median household incomes in the neighborhood are above national averages (66th percentile), and the rent-to-income ratio is low (about 12%), a combination that supports pricing power without overextending tenants. Median home values are modestly above national norms, which can sustain reliance on multifamily rentals and help lease retention by reducing competition from ownership alternatives.
Within a 3-mile radius, demographics indicate a largely stable population over recent years with a projected dip through 2028 but a simultaneous increase in total households. That pattern suggests smaller household sizes and a potential expansion in the renter pool, which can support occupancy stability over time. Renter-occupied housing accounts for roughly one-fifth of units locally, indicating a moderate renter concentration and depth of demand for multifamily.
Neighborhood occupancy (not property occupancy) trends run below metro peers, so lease management and product differentiation remain important. Even so, the property’s 1995 vintage is newer than the area’s average 1987 construction year, which can improve competitive positioning versus older stock, though investors should still plan for system updates and targeted modernization to meet current renter expectations.
Safety indicators are mixed when viewed against the Sandusky metro and national context. The neighborhood’s crime rank is weaker within the metro (26th of 26), yet national comparisons are closer to average. Year over year, estimated property offenses declined and violent offense rates show notable improvement, placing the reduction in a stronger national percentile tier. Investors should underwrite with conservative assumptions while recognizing the recent directional improvement, and evaluate site-level security, lighting, and visibility to support resident comfort and retention.
- Texas Instruments — semiconductors (39.4 miles)
- TravelCenters of America — transportation services (39.9 miles) — HQ
Regional employers within driving range broaden the employment base for residents, with proximity to semiconductor and transportation services supporting commuter demand profiles.
This 93-unit asset built in 1995 is newer than the neighborhood’s average vintage, offering a relative edge versus older local stock while still benefiting from selective renovations to enhance competitiveness. Neighborhood fundamentals show above-median incomes, low rent-to-income levels, and amenity access that is competitive within the metro; together these factors support tenant retention and measured rent growth. According to CRE market data from WDSuite, neighborhood occupancy (not the property) trends softer than peers, so disciplined leasing and product positioning will be key. Within a 3-mile radius, households are projected to increase even as population dips, indicating smaller household sizes and a potential increase in renters entering the market, which can help stabilize demand.
Ownership costs are modestly elevated versus national norms, reinforcing reliance on rental housing and supporting lease duration. While metro crime ranks weaker, recent year-over-year improvements and standard property-level safety measures can mitigate risk. Overall, the investment case centers on value preservation through affordability, income depth, and a vintage that can be upgraded for additional yield.
- Newer 1995 vintage versus local average, with targeted capex providing value-add potential
- Above-median neighborhood incomes and low rent-to-income support retention and pricing power
- Household growth within 3 miles suggests a larger tenant base despite flat-to-down population
- Amenity access (restaurants, cafes, groceries) is competitive among Sandusky neighborhoods
- Risks: softer neighborhood occupancy, childcare amenity gaps, and metro crime rank warrant conservative underwriting