Two-Unit Residential
New
For Sale
$129,900
1027 W Jefferson Street, Springfield, OH 45506
Each residence offers a two-bedroom, one-bathroom layout, with a furnace replacement and sewer-line work completed in recent years.
Property Size2,674 SF
Price / SF$48.58
Days on Market7
Property Features for 1027 W Jefferson Street
General Information
Standard status
Active
Size
2,674 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Tenant in Place
Yes
Listing Agency:
Coldwell Banker Heritage
Listed By:
Morgan Coles
(937) 322-0352
Source:
Exprealty
Added: Oct 27
Changed: Nov 1
Last Checked: Nov 1 at 3:58PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Heritage
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential duplex contains two units, each configured with two bedrooms and one bathroom. Unit 1027 has a furnace installed in 2021, and the sewer line connecting the building to the city system was replaced in 2025.
The tenancy histories differ by unit. Unit 1027 has been occupied since 2022 under a month-to-month arrangement; Unit 1029 has had an occupant since 2016.
The tenancy histories differ by unit. Unit 1027 has been occupied since 2022 under a month-to-month arrangement; Unit 1029 has had an occupant since 2016.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- Unit 1027 has been occupied since 2022 on a month‑to‑month tenancy
- Unit 1029 has been occupied since 2016
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,076
Cap Rate
6.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$181,520
$181.5K
Cap Rate 7%
$129,657
$129.7K
Cap Rate 9%
$100,844
$100.8K
Market Conditions
NOI Build-Up for 2,674 SF
Gross rent
$14.1K $5.28/SF
− Vacancy
−$1.2K −$0.43/SF
EGI
$13.0K $4.85/SF
− OpEx
−$3.9K −$1.45/SF
NOI
$9.1K $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 Rate 5%
$181,520
Cap Rate 7%
$129,657
Cap Rate 9%
$100,844
Alternative Uses
Best Use
Multifamily LT 5
$129.7K
$113.5K – $151.3K
NOI $9,076 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$112.3K
$98.3K – $131.1K
NOI $7,864 @ 7.0% cap · market cap 6.05%
Theoretical Best
Specialty Retail
$745.9K
$652.6K – $870.2K
NOI $52,210 @ 7.0% cap · market cap 40.19%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Explore this area
Business Placement
Demographics for 45506, OH
13,330
Population
6,613
Households
2
Avg Household Size
39
Median Age
13%
College-Educated
87%
High-School Grad
12.2 sq mi
ZIP Area
1,093
Density / Sq Mi
$40,132
Median Household Income
$34,774
Median Earnings
$800
Median Rent
$101,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence offers a two-bedroom, one-bathroom layout, with a furnace replacement and sewer-line work completed in recent years.
Where is this duplex located?
The property is located at 1027 W Jefferson Street Springfield, OH.
What is the asking price?
The asking price for this property is $129,900.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; Unit 1027 has been occupied since 2022 on a month‑to‑month tenancy; Unit 1029 has been occupied since 2016
