Oversized Duplex Investment
1501 E High Street Springfield, OH 45505
For Sale
$239,500
MULTI_FAMILY - Springfield, OH
Property Size4,000 SF
Lot Size0.17 Acres
Price / SF$59.88
Days on Market104
Property Features for 1501 E High Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Rooms
Bedroom 1, Bedroom 2, Bedroom 3
Parking
8
Standard status
Active
APN
3400700028204001
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2468
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1901
Number of units
2
Listing Agency:
Red 1 Realty
(614) 585-9020
Listed By:
Kelvin Hernandez · License #2025000877
(614) 779-4621
Added: Apr 17
Changed: Jul 29
Last Checked: Jul 29 at 4:06AM
MLS# 226012601
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This cash-flowing duplex offers two oversized residential units with long-term tenants in place who wish to remain. Unit 1501 is configured as a 3-bedroom, 1-bath layout, and Unit 202 is a 4-bedroom, 1.5-bath layout. To the seller’s best knowledge, each unit provides approximately 2,000 square feet of living space, making the property meaningfully larger than a typical duplex. The property is described as being in functional condition and is positioned as a stable, income-producing investment.
The duplex includes a spacious parking area accommodating up to 8 vehicles, which adds daily convenience for residents. The units are currently fully occupied, and the seller reports in-place income of $1,500 per month per unit. Tenants are on month-to-month arrangements, providing flexibility for new ownership while maintaining proven rental history, per the seller.
For investors and owner-operators, the property’s combination of strong in-place income, oversized layouts, and stable occupancy may appeal to those seeking to formalize leases, maintain occupancy, and optimize operations with tenants already in place. With two distinct unit mixes, the building can also support a straightforward leasing strategy based on resident household size preferences.
The duplex includes a spacious parking area accommodating up to 8 vehicles, which adds daily convenience for residents. The units are currently fully occupied, and the seller reports in-place income of $1,500 per month per unit. Tenants are on month-to-month arrangements, providing flexibility for new ownership while maintaining proven rental history, per the seller.
For investors and owner-operators, the property’s combination of strong in-place income, oversized layouts, and stable occupancy may appeal to those seeking to formalize leases, maintain occupancy, and optimize operations with tenants already in place. With two distinct unit mixes, the building can also support a straightforward leasing strategy based on resident household size preferences.
Key Highlights
- Fully occupied 2‑unit duplex with long‑term tenants in place generating $1,500/month per unit
- Unit 1501 offers 3 beds and 1 bath; Unit 202 offers 4 beds and 1.5 baths
- Each unit features approximately 2,000 sq ft of living space (to seller's best knowledge), totaling 4,000+ sq ft
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.1k | $5.28 |
| − Vacancy | −$1.7k | −$0.43 |
| EGI | $19.4k | $4.85 |
| − OpEx | −$5.8k | −$1.45 |
| NOI | $13.6k | $3.39 |
4,000 SF · lease $5.28/SF/yr · vacancy 8.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$193.9K
$169.7K – $226.3K
NOI $13,576 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$168.0K
$147.0K – $196.1K
NOI $11,763 @ 7.0% cap · market cap 4.91%
Theoretical Best
Specialty Retail
$1.12M
$976.3K – $1.30M
NOI $78,100 @ 7.0% cap · market cap 32.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with two large unit layouts and on-site parking, offering immediate rental income potential.
Where is this duplex located?
The property is located at 1501 E High Street Springfield, OH.
What is the asking price?
The asking price for this property is $239,500.
What are key features of this property?
This property features: Fully occupied 2‑unit duplex with long‑term tenants in place generating $1,500/month per unit; Unit 1501 offers 3 beds and 1 bath; Unit 202 offers 4 beds and 1.5 baths; Each unit features approximately 2,000 sq ft of living space (to seller's best knowledge), totaling 4,000+ sq ft
