Rep Power: 449

does anyone know if this will work/fit on a sedan with a 1.75F/1.5R drop?

15x7.5 wheel
38mm offset
205/60-15

 
Rep Power: 424

Its not the drop that will kill you... its whether the rim hits the rear A arm.
I hit it with a 16x8, same offset. Not with the car sitting, but let the suspension move and the bushings flex, you may have an issue.
Take the rim in a half an inch and the fact that there's a 1/4" less of it back there may or may not help your cause.
I'd be cautious with it.