| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Good |
| Demographics | 39th | Poor |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2308 Milan Rd, Sandusky, OH, 44870, US |
| Region / Metro | Sandusky |
| Year of Construction | 1980 |
| Units | 110 |
| Transaction Date | 2001-03-01 |
| Transaction Price | $1,476,000 |
| Buyer | ROSE COURT INC |
| Seller | CHELSEA COURT APTS SANDU |
2308 Milan Rd, Sandusky OH Multifamily Investment
Neighborhood renter concentration is elevated for Sandusky and groceries/restaurants are close by, supporting steady tenant demand and lease retention, according to WDSuite’s CRE market data.
This Inner Suburb location carries a neighborhood rating of B and ranks 11th among 26 Sandusky neighborhoods — above the metro median — signaling balanced fundamentals for workforce-oriented rentals. Neighborhood occupancy sits at 88.6% with a modest five-year pullback, so underwriting should assume stable demand with some leasing friction versus tighter urban cores.
Daily-needs access is a relative strength: grocery availability ranks 3rd of 26 locally and around the upper quartile nationally, and restaurants are also comparatively dense for the metro. At the same time, cafes, parks, and pharmacies are sparse within the neighborhood, so experiential amenities may rely more on short drives than walks. Average school ratings sit in the lower national percentiles, a consideration for family renters and pricing power.
Housing stock in the area skews older (average vintage 1955), while the subject property was built in 1980. That newer positioning versus much of the surrounding inventory can help competitive standing; however, investors should still budget for modernization of 1980s systems and common areas to support rent resilience.
Tenure dynamics favor multifamily demand: approximately 43% of neighborhood housing units are renter-occupied (competitive among Sandusky areas by rank), indicating a meaningful tenant base and potential for durable absorption. Within a 3-mile radius, households have been essentially flat in recent years while WDSuite’s projections point to population growth and more households over the next five years, which would expand the local renter pool and support occupancy stability if realized.
Ownership costs are relatively accessible in this market by national standards, which can introduce some competition from entry-level ownership. Even so, neighborhood rent-to-income around 0.19 suggests manageable rent burdens that support retention and limit turnover risk if operators maintain a value-forward offering.
Based on WDSuite’s validated indicators, this neighborhood performs above the metro average for safety among Sandusky’s 26 neighborhoods and sits modestly above the national median. Recent year-over-year trends show double-digit declines in both violent and property offenses, which helps reinforce leasing stability and resident retention.
While the national positioning is favorable overall, safety varies by micro-location and time of day. Investors should align site-level lighting, access control, and staffing with standard risk management practices to sustain performance.
Regional employment nodes within driving range provide a broader base of professional and industrial jobs that can contribute to renter demand for Sandusky properties, including roles at Texas Instruments and TravelCenters of America.
- Texas Instruments — semiconductor offices (41.1 miles)
- Travelcenters Of America — travel centers & logistics (41.4 miles) — HQ
Built in 1980 with 110 units, the property is newer than much of the surrounding housing stock, offering a competitive position against older inventory while still benefiting from value-add potential through system upgrades and common-area refreshes. Neighborhood fundamentals are balanced: renter concentration is relatively high for Sandusky, daily-needs retail is strong, and rent burdens are manageable — ingredients that support occupancy stability and consistent leasing. According to CRE market data from WDSuite, neighborhood occupancy trends remain steady albeit off prior peaks, so prudent underwriting and operational focus on retention should sustain performance.
Investor considerations include lower-rated schools and limited nearby parks/cafes, along with an ownership market that is more attainable than in high-cost metros. Even so, projected population and household growth within 3 miles points to a larger tenant base over the medium term, and thoughtful capital planning can position this 1980 asset to capture that demand.
- Newer-than-area stock (1980) supports competitive positioning versus older neighborhood inventory
- Elevated renter-occupied share and strong daily-needs retail underpin durable tenant demand
- Manageable rent-to-income levels aid retention and pricing flexibility
- Medium-term demographic forecasts indicate a larger 3-mile renter pool
- Risks: lower school ratings, limited parks/cafes, modest occupancy drift, and competition from attainable ownership