Duplex with Detached
For Sale
$175,000
509-511 E Northern Avenue, Springfield, OH 45503
MULTI_FAMILY - Other - Springfield, OH
Property Size2,384 SF
Lot Size0.16 Acres
Price / SF$73.41
Days on Market39
Property Features for 509-511 E Northern Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 4
Patio and Porch features
Porch
Interior features
Attic, No Window Coverings
Fireplace
1
Basement
Full, Unfinished
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
E McCreight to right on Olive St to right on Northern.
Standard status
Active
APN
3400700035208007
Size
2,384 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Building Details
Year built
1921
Floors in Building
2
Number of units
2
Flooring type
Laminate, Wood
Building materials
Wood Siding
Architectural style
Other
Listing Agency:
Roost Real Estate Co.
(937) 390-3715
Listed By:
Tina Bleything · License #2016002796
(937) 390-3715
Added: Jun 24
Changed: Jul 28
Last Checked: Aug 1 at 3:06AM
MLS# 1046616
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.
Investment Insights
Based on property information with market context.
This duplex consists of two tenant-occupied sides. Each unit features three bedrooms and one full bathroom upstairs, along with generously sized living spaces. The main level includes wood floors, a large living room with a decorative fireplace, and a dining area with a built-in bench storage. A convenient mudroom adds everyday storage and functionality. Large windows throughout bring in natural light, and the property includes an inviting front porch. Outside, there is a decent-sized yard and a detached garage.
The property is located at 509-511 E Northern Avenue in Springfield, Ohio (Clark County), on a 0.16-acre lot. With both sides currently occupied, tenant rights apply.
For buyers seeking a straightforward two-family setup, the existing duplex configuration provides two separate 3-bedroom households, each with an upstairs full bathroom. Current tenant occupancy may support immediate income while the units share consistent interior features such as wood flooring, a fireplace in the living room, and upstairs bedroom and bath layout. The attached elements for daily life—porch, mudroom storage, and yard and garage space—also make the property more practical for resident use. The detached garage and yard give additional outdoor utility alongside the interior character details.
The property is located at 509-511 E Northern Avenue in Springfield, Ohio (Clark County), on a 0.16-acre lot. With both sides currently occupied, tenant rights apply.
For buyers seeking a straightforward two-family setup, the existing duplex configuration provides two separate 3-bedroom households, each with an upstairs full bathroom. Current tenant occupancy may support immediate income while the units share consistent interior features such as wood flooring, a fireplace in the living room, and upstairs bedroom and bath layout. The attached elements for daily life—porch, mudroom storage, and yard and garage space—also make the property more practical for resident use. The detached garage and yard give additional outdoor utility alongside the interior character details.
Key Highlights
- Double home built in 1921 with both sides currently tenant occupied (tenant rights apply)
- Each unit offers 3 bedrooms and 1 full bathroom upstairs
- Main level features wood floors, a large living room, and a decorative fireplace
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.6k | $5.28 |
| − Vacancy | −$1.0k | −$0.43 |
| EGI | $11.6k | $4.85 |
| − OpEx | −$3.5k | −$1.45 |
| NOI | $8.1k | $3.39 |
2,384 SF · lease $5.28/SF/yr · vacancy 8.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$115.6K
$101.1K – $134.9K
NOI $8,091 @ 7.0% cap · market cap 4.62%
Second Best
Apartment 5plus
$100.2K
$87.6K – $116.9K
NOI $7,011 @ 7.0% cap · market cap 4.01%
Theoretical Best
Specialty Retail
$665.0K
$581.9K – $775.8K
NOI $46,548 @ 7.0% cap · market cap 26.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
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
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 - Tenant-occupied duplex offering two 3-bedroom, 1-bath units with wood floors, porches, yard space, and a detached garage.
Where is this duplex located?
The property is located at 509-511 E Northern Avenue Springfield, OH.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Double home built in 1921 with both sides currently tenant occupied (tenant rights apply); Each unit offers 3 bedrooms and 1 full bathroom upstairs; Main level features wood floors, a large living room, and a decorative fireplace
