Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Remodeled Duplex Near University Title is generated by Realmo AI

    1107 North Fountain Avenue, Springfield, OH 45504

    View on Map
    Claim this Listing
    For Sale
    $169,900

    Two renovated units with dedicated parking and month-to-month occupancy provide an income-focused residential rental option.

    Type:Multi-Family / Duplex
    Property size:
    2,606 SF
    Price / SF:
    $65/SF
    Added:
    Feb 1, 2026
    Days on Market:
    126
    Last Refresh:
    Jun 6 at 2:16 am

    Property Features for 1107 North Fountain Avenue

    General Information

    Standard status
    Active
    Size
    2,606 SF
    Property subtype
    Multi-Family / Duplex

    Building Details

    Year Built
    1916

    We can help!

    Listing Contact
    Michael Mundey
    Michael Mundey

    Listing agent Michael Mundey License #2020004928

    Listing office EXP Realty, LLC

    Listing date Feb 1, 2026

    Source Compass

    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 EXP Realty, LLC

    HighLights

    • Renovated duplex built in 1916 with 100% leased month‑to‑month occupancy under current ownership
    • Lower unit: 2 bed/1 bath plus spacious basement storage, rented at $950/month
    • Upper unit: 3 bed/1 bath, rented at $1,100/month
    • Total rent is $2,050/month; combined total is 5 bedrooms and 2 bathrooms
    • Remodeled in 2021 with new floors, water heaters, Carrier central air/heat units, and brand new PEX piping
    • 2021 updates also include new gutters and new exterior siding; includes dedicated parking lot

    Overview

    This well-maintained duplex offers two separate living units. The lower unit features 2 bedrooms and 1 bathroom and includes spacious basement storage. The upper unit provides 3 bedrooms and 1 bathroom, for a combined total of 5 bedrooms and 2 bathrooms. Both units were completely remodeled in 2021 with new floors, updated water heaters, new Carrier central air/heat HVAC units, new PEX piping, new gutters, and new exterior siding. The property is being sold as-is.

    Located in Springfield near Wittenberg University, the duplex is within one block of campus and close to downtown, shopping, and dining. A dedicated parking lot supports tenant convenience.

    From a tenant and operator standpoint, the unit mix can appeal to households needing either a smaller 2-bedroom setup or a larger 3-bedroom layout. The duplex is currently 100% leased, with tenants on month-to-month terms who would like to stay long term. The lower unit is $950 per month and the upper unit is $1,100 per month. Please do not disturb tenants.

    Local 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 $13.8k $5.28
    − Vacancy −$1.1k −$0.43
    EGI $12.6k $4.85
    − OpEx −$3.8k −$1.45
    NOI $8.8k $3.39
    2,606 SF · lease $5.28/SF/yr · vacancy 8.17% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $126.4K
    $110.6K – $147.4K (±1% cap)
    NOI $8,845 @ 7.0% cap · market cap 5.21%
    Second Best
    Apartment 5plus
    $109.5K
    $95.8K – $127.7K (±1% cap)
    NOI $7,664 @ 7.0% cap · market cap 4.51%
    Theoretical Best
    Specialty Retail
    $726.9K
    $636.0K – $848.0K (±1% cap)
    NOI $50,882 @ 7.0% cap · market cap 29.95%
    Zoning and permitted uses should be independently verified with local authorities.
    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 Building Supply Gym & Fitness Center 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
    -83.809274
    Latitude
    39.9378777

    Nearby Similar for Sale

    • $950,000
      4,562 SF

      Springfield Car Wash Opportunity

      Longest running car wash in Springfield with redevelopment potential.
      927 W Columbia Street, Springfield, OH 45504
      View Details
    • $215,000
      2,816 SF

      Four-Unit Multifamily Investment Opportunity

      Four units, immediate income potential, west side Springfield.
      1606-1608 W High Street, Springfield, OH 45506
      View Details
    • $675,000
      8,000 SF

      Modern Commercial Building in Springfield

      8,000 SF commercial building suitable for various uses.
      801 Selma Road, Springfield, OH 45505
      View Details
    • $345,000
      5,802 SF

      Springfield Multifamily Investment Opportunity

      Five units near downtown Springfield with income potential.
      409 S Fountain Avenue, Springfield, OH 45506
      View Details
    • $149,900
      3,306 SF

      Springfield Church Building For Sale

      Church building with expansion on four parcels of land.
      532 Kinnane Avenue, Springfield, OH 45505
      View Details
    • $169,000
      1,484 SF

      Two-Unit Residential Income Property

      Well-maintained duplex offering flexible 1-bedroom and 2-bedroom arrangements with updated flooring, porch, and fenced parking area.
      306-308 E Northern Avenue, Springfield, OH 45503
      View Details
    • $735,000

      Springfield Mobile Home Community

      24-site mobile home community with high occupancy and income potential.
      2730 E Main Street, Springfield, OH 45503
      View Details
    • $875,000
      6,879 SF

      Medical Office Building For Sale

      6,879 SF medical office building on 1.73 acres.
      3250 Middle Urbana Rd, Springfield, OH 45502
      View Details
    • $119,900
      2,373 SF

      Versatile Investment Property with Parking

      Three-unit property with parking, income potential, and flexible floorplans.
      1223 Lagonda Avenue, Springfield, OH 45503
      View Details
    • $144,900
      2,546 SF

      Well-Maintained Four-Unit Multifamily Property

      Four-unit multifamily property near downtown Springfield, Ohio.
      707 W High Street, Springfield, OH 45506
      View Details
    • $177,500
      2,112 SF

      Well-Maintained Duplex Investment Opportunity

      Solid investment with updates, private entrances, and tenant appeal.
      263 N Isabella Street, Springfield, OH 45504
      View Details
    • $180,000
      2,862 SF

      Springfield Duplex Investment Opportunity

      Turnkey duplex in Springfield with income potential.
      836-838 Rodgers Drive, Springfield, OH 45503
      View Details

    FAQs

    What type of property is this?
    Duplex - Two renovated units with dedicated parking and month-to-month occupancy provide an income-focused residential rental option.
    Where is this duplex located?
    The property is located at 1107 North Fountain Avenue Springfield, OH.
    What is the asking price?
    The asking price for this property is $169,900.
    What are key features of this property?
    This property features: Renovated duplex built in 1916 with 100% leased month‑to‑month occupancy under current ownership; Lower unit: 2 bed/1 bath plus spacious basement storage, rented at $950/month; Upper unit: 3 bed/1 bath, rented at $1,100/month
    (937) 219-3200
    We can help!
    Listing Contact
    Michael Mundey
    Michael Mundey
    Real Estate License ID: 2020004928
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1107 North Fountain Avenue, Springfield, OH 45504
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!