Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    400 S Arlington Ave Springfield, OH 45505

    View on Map
    Sponsored
    For Sale
    $179,900

    MULTI_FAMILY - Other - Springfield, OH

    Property size:
    2,344 SF
    Lot size:
    0.17 Acres
    Days on Market:
    20
    Last Refresh:
    Mar 16 at 3:06 pm

    Property Features for 400 S Arlington Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 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 Feb 24, 2026

    MLS# 1043511

    Copyright © 2026 West Metro Board of REALTORS®. 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 Income

    This updated and well-maintained duplex 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 rented month-to-month for $1,200 and was 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 welcoming covered porch. Each unit has a living room, dining room, kitchen, and a bright sunroom on the first floor, with two large bedrooms and one full bath on the second floor. The basement includes private storage areas for each unit plus laundry hookups. Each tenant has one side of the garage for storage. The property includes a large shared side yard. The property has updated electric panels, furnaces, and water heaters. Low operating expenses include water averaging under $75 per month and lawn care at $40 per cut. Tenants are responsible for their own electricity, gas, and trash. The property size is 2,344 square feet and the lot size is 0.17 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    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

    Nearby Similar for Sale

    • $314,900
      2,886 SF

      Spacious Duplex in Clark Shawnee

      Well-maintained duplex in a quiet, desirable Springfield location.
      2076 Stowe Dr, Springfield, OH 45505
      View Details
    • New
      $154,900
      Pending

      Renovated Commercial Building in Springfield

      Completely renovated commercial building with original charm, ready for business.
      501 York St, Springfield, OH 45505
      View Details
    • $690,000
      6,468 SF

      Renovated Springfield Duplex: Beauty Multi-Plex

      Newly renovated duplex in Springfield, OH, as a self-care beauty multi-plex.
      1701 Lexington Ave, Springfield, OH 45505
      View Details
    • $690,000
      6,468 SF

      Renovated Duplex - Self-Care Beauty Multi-Plex

      Newly renovated duplex transformed into a self-care beauty multi-plex.
      1701 Lexington Ave, Springfield, OH 45505
      View Details
    • $335,000
      4,236 SF

      Restored Historic Springfield Triplex

      Triplex with restored original details and owner-occupant opportunity.
      250 S Douglas Ave, Springfield, OH 45505
      View Details
    • $129,000
      660 SF

      Commercial Property with High Visibility

      Commercial property with high visibility, suitable for auto repair.
      1029 Mitchell Blvd, Springfield, OH 45503
      View Details
    • $1,179,000
      10,860 SF

      Dollar General on 6.12 Acres

      10,860 SF Dollar General on 6.12 acres for sale.
      3822 Springfield Xenia Rd, Springfield, OH 45506
      View Details
    • $169,000
      1,378 SF

      Springfield Duplex: Investment Opportunity

      Two-unit property near amenities, offering rental income potential.
      1866 Maiden Ln, Springfield, OH 45504
      View Details
    • $175,000
      0.17 Acres

      Springfield Duplex Near Wittenberg University

      Well-maintained duplex near Wittenberg University, fully leased, remodeled in 2021.
      1107 N Fountain Ave, Springfield, OH 45504
      View Details
    • $295,000
      3,506 SF

      Springfield Multifamily Income Property

      Six-unit building in Historic District, generating $3,200 monthly income.
      411 S Limestone St, Springfield, OH 45505
      View Details
    • New
      $208,000
      Pending

      Spacious Craftsman Duplex Investment Opportunity

      Updated duplex with craftsman details, ideal for real estate investment.
      469 E Cecil St, Springfield, OH 45503
      View Details
    • New
      $55,000
      1,867 SF

      Victorian Duplex in Established Neighborhood

      Spacious duplex with renovation potential in Springfield, Ohio.
      727 W High St, Springfield, OH 45506
      View Details

    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex generating $2,400 monthly income in Springfield, OH.
    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, offering **strong cash flow**.; - Updated units with new appliances, paint, and lighting.; - Separate updated electric panels, furnaces, and water heaters in both units.
    (937) 390-3119
    Request Owner's contact information
    400 S Arlington Ave Springfield, OH 45505
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    400 S Arlington Ave
    Springfield, OH 45505
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Julie Broghamer
    (937) 390-3119
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!