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    400 S Arlington Ave Springfield, OH 45505

    Sponsored
    For Sale
    $179,900

    MULTI_FAMILY - Other - Springfield, OH

    Property size:
    2,344 SF
    Lot size:
    0.17 Acres
    Days on Market:
    1
    Last Refresh:
    Jan 27 at 10:06 pm

    Property Features for 400 S Arlington Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 2, Bedroom 2
    Bedrooms
    4
    Bathrooms
    2
    APN
    3400700022123001
    Patio and Porch features
    Porch
    Fireplace
    1
    Basement
    Unfinished
    Appliances
    Range, Refrigerator
    Size
    2,344 SF
    Lot size
    0.17 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1910
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Vinyl, Wood
    Building materials
    Vinyl Siding, Wood Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Julie Broghamer

    Real Estate II, Inc. (937) 390-3119

    Listing agent Julie Broghamer (937) 390-3119

    Listing date Jan 27, 2026

    MLS# 1043511 Listing URL

    Copyright © 2026 Western Regional Information Systems and 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.

    Learn more

    Property Insight Report

    Overview

    Updated Duplex with Strong Cashflow

    This updated and well-maintained duplex, situated in Springfield, OH, presents an investment opportunity with a 12% cap rate. The property generates a total monthly income of $2,400. Unit 400 is leased for $1,200 per month with 5 months remaining on the lease and features fresh paint, new lighting, updated appliances, and a new dedicated outlet for the bedroom AC. Unit 402 is leased month-to-month for $1,200 per month and has been updated within the last 18 months, including a newer refrigerator and stove. Both units feature original hardwood floors, classic architectural charm, and access to a covered porch. Each unit contains a living room, dining room, kitchen, and a sunroom suitable for office space or flexible use on the first floor, with two large bedrooms and one full bath on the second floor. The basement provides private storage areas for each unit, along with laundry hookups. Each tenant has access to one side of the garage for storage. The property includes a shared side yard. Mechanical updates include improved electric panels, furnaces, and water heaters. The property has low operating expenses, with water averaging under $100 per month and lawn care costing $40 per cut. Tenants are responsible for their own electricity, gas, and trash. The property is being sold as a package deal with other properties.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Clark
    State
    Ohio
    Longitude
    -83.777405
    Latitude
    39.916864

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    FAQs

    What type of property is this?
    Duplex - Updated, well-maintained duplex producing $2,400 monthly with low operating expenses.
    Where is this duplex located?
    The property is located at 400 S Arlington Ave Springfield, OH.
    What is the asking price?
    The asking price for this property is $179,900.
    What are key features of this property?
    This property features: - 12% Cap Rate and $2,400/month income make this a strong income-producing property.; - Updated units with new appliances, fresh paint, and updated electric panel, furnace, and water heater.; - Turn-key duplex with low operating expenses and stable rental history.
    (937) 390-3119
    Request Owner's contact information
    400 S Arlington Ave Springfield, OH 45505
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    Springfield, OH 45505
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    400 S Arlington Ave Springfield, OH 45505
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    We can help!
    Listing Contact
    Julie Broghamer
    (937) 390-3119
    Learn more
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