Fully Occupied Duplex
For Sale
Under Contract
$185,000
557-559 E Madison Avenue, Springfield, OH 45503
MULTI_FAMILY - Springfield, OH
Property Size3,064 SF
Lot Size0.20 Acres
Price / SF$60.38
Days on Market43
Property Features for 557-559 E Madison 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
Parking features
None
Patio and Porch features
Porch
Interior features
Attic
Fireplace
1
Basement
Full, Unfinished
Subdivision
Springfield Corporation Rodgers Place 2
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 St to East on Madison Ave.
Standard status
Active Under Contract
APN
3400700035223003
Size
3,064 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Building Details
Year built
1916
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Aluminum Siding, Vinyl Siding
Listing Agency:
Roost Real Estate Co.
(937) 390-3715
Listed By:
Tina Bleything · License #2016002796
(937) 390-3715
Added: Jun 20
Changed: Jul 28
Last Checked: Aug 1 at 3:06AM
MLS# 1046563
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 separate residential units, each offering three bedrooms and one full bathroom. The homes include generously sized living spaces with large windows and original wood flooring throughout. Each unit also features a decorative fireplace, noted as not warranted.
The property is listed for sale at 557-559 E Madison Avenue in Springfield, Ohio, within Clark County. Lot size is reported as 0.2 acres and total property size is reported as 3,064 square feet.
For buyers seeking a residential income property with established occupancy, this duplex provides two distinct unit layouts with similar bedroom and bath configurations. Existing interior features such as wood flooring, natural light from large windows, and in-unit decorative fireplaces may support tenant appeal, subject to buyer review. The seller requests curbside offers only, with 48–72 hour notice for any final walkthrough.
The property is listed for sale at 557-559 E Madison Avenue in Springfield, Ohio, within Clark County. Lot size is reported as 0.2 acres and total property size is reported as 3,064 square feet.
For buyers seeking a residential income property with established occupancy, this duplex provides two distinct unit layouts with similar bedroom and bath configurations. Existing interior features such as wood flooring, natural light from large windows, and in-unit decorative fireplaces may support tenant appeal, subject to buyer review. The seller requests curbside offers only, with 48–72 hour notice for any final walkthrough.
Key Highlights
- Fully occupied duplex investment opportunity with 3 bedrooms and 1 full bath per unit
- Original wood flooring throughout the home and large windows for natural light
- Decorative fireplaces in both units (not warranted)
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 | $16.2k | $5.28 |
| − Vacancy | −$1.3k | −$0.43 |
| EGI | $14.9k | $4.85 |
| − OpEx | −$4.5k | −$1.45 |
| NOI | $10.4k | $3.39 |
3,064 SF · lease $5.28/SF/yr · vacancy 8.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$148.6K
$130.0K – $173.3K
NOI $10,399 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$128.7K
$112.6K – $150.2K
NOI $9,011 @ 7.0% cap · market cap 4.87%
Theoretical Best
Specialty Retail
$854.6K
$747.8K – $997.1K
NOI $59,825 @ 7.0% cap · market cap 32.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
703
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 - Spacious, fully occupied duplex with two 3-bedroom, 1-bath units and original wood flooring throughout.
Where is this duplex located?
The property is located at 557-559 E Madison Avenue Springfield, OH.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Fully occupied duplex investment opportunity with 3 bedrooms and 1 full bath per unit; Original wood flooring throughout the home and large windows for natural light; Decorative fireplaces in both units (not warranted)
