Updated 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 Market175
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
Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1, Bedroom 4
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
private entrance
covered front porch
hardwood floors
private basement with laundry and storage
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.
Listed By:
Priscilla L. McNamee · License #2003017795
(937) 390-3715
Added: Apr 3
Changed: Sep 13
Last Checked: Sep 24 at 1:06AM
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 2,112-square-foot duplex on a 0.13-acre lot contains two residential units, each with a private entrance and covered porch. Both sides feature updated kitchens, newer flooring, hardwood in the main living areas, and generous living rooms with natural light. Separate basements provide laundry and storage, while individual garage space adds practical utility for each unit.
Major systems have received updates, including furnaces, water heaters, and electrical panels. The property was built in 1928 and includes vinyl siding, forced-air natural gas heat, central air, and public sewer service. Current tenants occupy the units under month-to-month agreements.
Located at 263 N Isabella Street in Springfield, Ohio, the duplex offers off-street access and a traditional two-unit layout. Its configuration supports continued rental use and is also identified as an option for an owner occupant seeking separate living quarters.
Major systems have received updates, including furnaces, water heaters, and electrical panels. The property was built in 1928 and includes vinyl siding, forced-air natural gas heat, central air, and public sewer service. Current tenants occupy the units under month-to-month agreements.
Located at 263 N Isabella Street in Springfield, Ohio, the duplex offers off-street access and a traditional two-unit layout. Its configuration supports continued rental use and is also identified as an option for an owner occupant seeking separate living quarters.
Key Highlights
- Two‑unit duplex with 2,112 square feet of living area
- Each unit has a private entrance and covered front porch
- Separate basement laundry and storage for both units
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
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Open Analytics
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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately entered units offer updated kitchens, hardwood living areas, laundry, storage, and garage space.
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: Two‑unit duplex with 2,112 square feet of living area; Each unit has a private entrance and covered front porch; Separate basement laundry and storage for both units
