Triplex with Separate
New
For Sale
$99,900
1223 Lagonda Avenue, Springfield, OH 45503
A two-parcel offering includes an additional lot used for off-street parking.
Property Size2,373 SF
Price / SF$42.10
Days on Market7
Property Features for 1223 Lagonda Avenue
General Information
Standard status
Active
Size
2,373 SF
Property subtype
Residential Income
Zoning
Residential
Units
Unit Mix
1 x 2BR upper apartment, 1 x office/bedroom unit, 1 x 1BR main level apartment
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Tenant in Place
Yes
Amenities
Crawl Space,Partial,Unfinished
1
true
3
2
4
Insulated Windows
Assessor
false
2829
.0649 acres
0.0649
No Garage,Parking Lot,Private
2373
Building Details
Building Size
2,373 SF
Year Built
1920
Stories
2
Listing Agency:
Roost Real Estate Co
(937) 390-3715
Listed By:
Priscilla L McNamee · License #2003017795
Source:
Johnsonwebbrealty
Added: Oct 26
Changed: Oct 31
Last Checked: Oct 31 at 4:10AM
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 Roost Real Estate Co
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.
Built in 1920, this three-unit property has a separate entrance for each unit. The upper apartment has two bedrooms and is occupied by a long-term tenant. Another unit is configured with an office or bedroom, a storage room, and a half bath. The main-level apartment is currently arranged as a one-bedroom unit. Two new windows were installed in this apartment in August 2026; other updates include replacement windows, siding, and electrical panels. The roof was replaced in 2004.
The sale includes two parcels at the corner of Lagonda and Farlow. The additional parcel is used for off-street parking. Gas is served through one meter, and the owner currently pays for gas, water, sewer, and trash.
The sale includes two parcels at the corner of Lagonda and Farlow. The additional parcel is used for off-street parking. Gas is served through one meter, and the owner currently pays for gas, water, sewer, and trash.
Key Highlights
- Three separate entrances serve the three units
- Upper apartment has two bedrooms and a long‑term tenant
- Office‑style unit includes an office/bedroom, storage room, and half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,054
Cap Rate
8.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$161,080
$161.1K
Cap Rate 7%
$115,057
$115.1K
Cap Rate 9%
$89,489
$89.5K
Market Conditions
NOI Build-Up for 2,373 SF
Gross rent
$12.5K $5.28/SF
− Vacancy
−$1.0K −$0.43/SF
EGI
$11.5K $4.85/SF
− OpEx
−$3.5K −$1.45/SF
NOI
$8.1K $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%
$161,080
Cap Rate 7%
$115,057
Cap Rate 9%
$89,489
Alternative Uses
Best Use
Multifamily LT 5
$115.1K
$100.7K – $134.2K
NOI $8,054 @ 7.0% cap · market cap 8.06%
Second Best
Apartment 5plus
$99.7K
$87.2K – $116.3K
NOI $6,979 @ 7.0% cap · market cap 6.99%
Theoretical Best
Specialty Retail
$661.9K
$579.2K – $772.2K
NOI $46,333 @ 7.0% cap · market cap 46.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
324
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - A two-parcel offering includes an additional lot used for off-street parking.
Where is this triplex located?
The property is located at 1223 Lagonda Avenue Springfield, OH.
What is the asking price?
The asking price for this property is $99,900.
What are key features of this property?
This property features: Three separate entrances serve the three units; Upper apartment has two bedrooms and a long‑term tenant; Office‑style unit includes an office/bedroom, storage room, and half bath
