Duplex with Detached
For Sale
$149,000
468 E Cecil Street, Springfield, OH 45503
Multi-Family, Springfield, OH
Property Size2,512 SF
Lot Size0.16 Acres
Price / SF$59.32
Days on Market47
Property Features for 468 E Cecil Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 3, Bathroom 1
Patio and Porch features
Porch
Interior features
Attic
Fireplace
1
Basement
Block, Unfinished
Appliances
Range, Refrigerator
Subdivision
Northern Heights
Lot features
Residential Lot
Elementary school district
1206 Springfield CSD
Middle school district
1206 Springfield CSD
High school district
1206 Springfield CSD
Directions
N Limestone to East on Cecil.
Standard status
Active
APN
3400700035208013
Size
2,512 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Amenities
covered front porches
detached garage
Building Details
Year built
1911
Floors in Building
2
Number of units
2
Flooring type
Linoleum, Wood
Building materials
Vinyl Siding
Listing Agency:
Roost Real Estate Co.
Listed By:
Tina Bleything · License #2016002796
(937) 390-3715
Added: Aug 9
Changed: Sep 13
Last Checked: Sep 24 at 2:06AM
MLS# 1047626
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 2,512-square-foot duplex, built in 1911, contains two residential units with matching layouts. Each side includes two bedrooms, one bathroom, a living room, dining room, kitchen, and full basement. Covered front porches serve both units, while a detached garage provides additional property functionality. Interior features include an attic, wood and linoleum flooring, ranges, and refrigerators. The building has vinyl siding, forced-air natural gas heat, a fireplace, and public sewer service.
The property occupies 0.16 acres at 468 E Cecil Street in Springfield, Ohio, within Clark County. Its two-unit configuration provides separate residential spaces in one structure, with established core systems and household features already in place.
The property occupies 0.16 acres at 468 E Cecil Street in Springfield, Ohio, within Clark County. Its two-unit configuration provides separate residential spaces in one structure, with established core systems and household features already in place.
Key Highlights
- Duplex with 2,512 square feet of building area
- Two units, each with 2 bedrooms and 1 bathroom
- Full basement included on both sides
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
$8,526
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
5.72%
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%
$170,520
$170.5K
Cap Rate 7%
$121,800
$121.8K
Cap Rate 9%
$94,733
$94.7K
Market Conditions
NOI Build-Up for 2,512 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
$13.3K $5.28/SF
− Vacancy
−$1.1K −$0.43/SF
EGI
$12.2K $4.85/SF
− OpEx
−$3.7K −$1.45/SF
NOI
$8.5K $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%
$170,520
Cap Rate 7%
$121,800
Cap Rate 9%
$94,733
Alternative Uses
Best Use
Multifamily LT 5
$121.8K
$106.6K – $142.1K
NOI $8,526 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$105.5K
$92.3K – $123.1K
NOI $7,387 @ 7.0% cap · market cap 4.96%
Theoretical Best
Specialty Retail
$700.7K
$613.1K – $817.5K
NOI $49,047 @ 7.0% cap · market cap 32.92%
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
578
Businesses Nearby
Explore this area
Business Placement
Demographics for 45503, OH
32,870
Population
15,458
Households
2.1
Avg Household Size
44
Median Age
17%
College-Educated
89%
High-School Grad
17.5 sq mi
ZIP Area
1,878
Density / Sq Mi
$54,561
Median Household Income
$36,761
Median Earnings
$871
Median Rent
$153,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two residential units offer matching two-bedroom layouts, full basements, covered porches, and separate living areas.
Where is this duplex located?
The property is located at 468 E Cecil Street Springfield, OH.
What is the asking price?
The asking price for this property is $149,000.
What are key features of this property?
This property features: Duplex with 2,512 square feet of building area; Two units, each with 2 bedrooms and 1 bathroom; Full basement included on both sides
