Well-Maintained Duplex with Private
For Sale
$177,500
263 N Isabella Street, Springfield, OH 45504
MULTI_FAMILY - Springfield, OH
Property Size2,112 SF
Lot Size0.13 Acres
Price / SF$84.04
Days on Market129
Property Features for 263 N Isabella Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Patio and Porch features
Porch
Basement
Unfinished, Full
Appliances
Gas Water Heater
Subdivision
Smith & Thompson Add
Lot features
Residential Lot
Elementary school district
1206 Springfield CSD
Middle school district
1206 Springfield CSD
High school district
1206 Springfield CSD
Directions
Bechtle to Maiden Lane to N Isabella
Standard status
Active
APN
3400600005310017
Size
2,112 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
covered front porch
laundry
Building Details
Year built
1928
Floors in Building
2
Number of units
2
Flooring type
Hardwood
Building materials
Vinyl Siding
Listing Agency:
Roost Real Estate Co.
(937) 390-3715
Listed By:
Priscilla L. McNamee
(937) 390-3715
Added: Apr 3
Changed: Aug 5
Last Checked: Aug 9 at 3:06PM
MLS# 1044719
Copyright © 2026 Western Regional Information System & Technology, Inc. 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 well-maintained duplex was built in 1928 and offers a functional, rental-friendly layout with each side having its own private entrance and covered front porch. Inside, both units feature updated kitchens with an abundance of cabinetry, newer flooring, and plenty of natural light. Hardwood floors run through the main living areas, complementing the spacious feel created by large living rooms and practical flow throughout.
Each unit also includes its own private basement with laundry and storage space, along with separate garage space. Major mechanical updates have been completed, including updated furnaces, water heaters, and electric panels. The home has vinyl siding, natural gas forced-air heating, and central air cooling, with public sewer service. The property sits on a manageable lot with off-street access, and the current tenants are on month-to-month agreements.
Designed for ongoing performance, this duplex offers straightforward occupancy with separate living spaces and room for day-to-day convenience.
Each unit also includes its own private basement with laundry and storage space, along with separate garage space. Major mechanical updates have been completed, including updated furnaces, water heaters, and electric panels. The home has vinyl siding, natural gas forced-air heating, and central air cooling, with public sewer service. The property sits on a manageable lot with off-street access, and the current tenants are on month-to-month agreements.
Designed for ongoing performance, this duplex offers straightforward occupancy with separate living spaces and room for day-to-day convenience.
Key Highlights
- 0.13‑acre lot with off‑street access
- Each side has its own private entrance and covered front porch
- Updated kitchens with abundant cabinetry and newer flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,168
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$143,360
$143.4K
Cap Rate 7%
$102,400
$102.4K
Cap Rate 9%
$79,644
$79.6K
Market Conditions
NOI Build-Up for 2,112 SF
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.
Gross rent
$11.2K $5.28/SF
− Vacancy
−$911 −$0.43/SF
EGI
$10.2K $4.85/SF
− OpEx
−$3.1K −$1.45/SF
NOI
$7.2K $3.39/SF
Area
Clark County, OH
Vacancy
8.17%
Lease Rate
$5.28 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$143,360
Cap Rate 7%
$102,400
Cap Rate 9%
$79,644
Alternative Uses
Best Use
Multifamily LT 5
$102.4K
$89.6K – $119.5K
NOI $7,168 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$88.7K
$77.6K – $103.5K
NOI $6,211 @ 7.0% cap · market cap 3.50%
Theoretical Best
Specialty Retail
$589.1K
$515.5K – $687.3K
NOI $41,237 @ 7.0% cap · market cap 23.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
379
Businesses Nearby
Explore this area
Business Placement
Demographics for 45504, OH
17,343
Population
7,100
Households
2.4
Avg Household Size
41
Median Age
27%
College-Educated
92%
High-School Grad
22.0 sq mi
ZIP Area
788
Density / Sq Mi
$67,334
Median Household Income
$38,813
Median Earnings
$889
Median Rent
$167,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex features separate entrances and covered porches, updated kitchens, and major mechanical upgrades in place.
Where is this duplex located?
The property is located at 263 N Isabella Street Springfield, OH.
What is the asking price?
The asking price for this property is $177,500.
What are key features of this property?
This property features: 0.13‑acre lot with off‑street access; Each side has its own private entrance and covered front porch; Updated kitchens with abundant cabinetry and newer flooring
