| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 34th | Fair |
| Demographics | 43rd | Poor |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 115 Franklin St, Sandusky, OH, 44870, US |
| Region / Metro | Sandusky |
| Year of Construction | 1979 |
| Units | 100 |
| Transaction Date | 2007-12-20 |
| Transaction Price | $2,200,000 |
| Buyer | HARBOURVIEW SENIOR HOUSING LP |
| Seller | HARBOR VIEW CORP |
115 Franklin St, Sandusky OH Multifamily Investment
Neighborhood data points to a deep renter-occupied base that supports demand stability, according to WDSuite’s CRE market data. Investor focus centers on leveraging amenity-rich surroundings while managing affordability-related retention risk at the neighborhood level.
This Inner Suburb neighborhood in Sandusky carries an A rating and ranks 3rd among 26 metro neighborhoods, placing it in the top quartile locally. Amenity access is a clear strength: restaurants, cafés, groceries, parks, and pharmacies all rank at or near the top within the Sandusky metro, with restaurants and cafés also testing in the high national percentiles. For investors, this concentration of daily needs and dining helps underpin renter convenience and supports leasing velocity.
The neighborhood skews toward renter-occupied housing, with a renter concentration that sits near the top of the metro and well above national norms. For multifamily owners, this indicates a broad tenant base and an established leasing ecosystem. At the same time, neighborhood occupancy is on the softer side versus metro and national benchmarks, suggesting lease-up and retention will benefit from hands-on management and competitive positioning.
School ratings in the area trail national averages, which may reduce pull for family renters seeking top-rated schools but can keep pricing oriented to workforce segments. Home values trend on the lower end nationally, which can increase competition from ownership alternatives; pricing strategy and amenity/value-add execution are important to sustain absorption and limit concessions.
Within a 3-mile radius, demographics show a modest population increase and a growing household count, with projections indicating further household expansion by 2028. This points to a gradually expanding renter pool, which, paired with the neighborhood’s strong amenity profile, can support occupancy stability. Income growth in the 3-mile trade area has been positive, but rent-to-income signals at the neighborhood level point to affordability pressure; investors should monitor renewal strategies and value delivery to maintain retention.
Safety indicators compare somewhat favorably at the national level, with the neighborhood testing above the national midpoint overall. Recent trend data shows notable year-over-year improvement in both violent and property offense rates, which supports a more stable operating backdrop for multifamily assets.
As always, safety varies by block and over time. Investors should underwrite with recent, property-level information and consider onsite measures (lighting, access control, and resident engagement) to reinforce leasing and retention.
Regional employment access draws from larger corporate nodes reachable by highway, providing a commuting base that supports workforce housing. Notable employers in the broader orbit include Texas Instruments and TravelCenters of America, which contribute to regional stability and potential renter demand.
- Texas Instruments — semiconductor offices (42.1 miles)
- Travelcenters Of America — travel centers & logistics (42.2 miles) — HQ
Built in 1979, the property is newer than much of the surrounding housing stock, offering relative competitiveness versus older inventory while leaving room for targeted system upgrades and contemporary finishes to drive rentability. The neighborhood’s strong amenity access and high renter-occupied share support a durable tenant base, while softer neighborhood occupancy underscores the importance of active leasing and renewal management. According to commercial real estate analysis from WDSuite, household growth within a 3-mile radius and improving safety trends provide a constructive backdrop, though ownership costs in the area are comparatively accessible, which can increase competition from for-sale options.
Positioning should emphasize value-for-amenities, operational efficiency, and thoughtful capital planning to capture demand without overreaching on rent-to-income thresholds. Execution around renewals, unit-quality differentiation, and resident services will be key to balancing absorption with retention.
- 1979 vintage offers a competitive edge over older neighborhood stock with selective upgrade potential
- Amenity-rich location (dining, groceries, parks, pharmacies) supports leasing velocity
- High renter-occupied share indicates depth of tenant base and ongoing demand
- 3-mile household growth and improving safety trends support occupancy stability
- Risks: softer neighborhood occupancy and accessible ownership alternatives require disciplined pricing and renewal strategy