Three-Unit Residential
For Sale
$99,900
1223 Lagonda Avenue, Springfield, OH 45503
Multi-Family, Springfield, OH
Property Size2,373 SF
Lot Size0.06 Acres
Price / SF$42.10
Days on Market243
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Property Features for 1223 Lagonda Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 1, Bathroom 3
Parking features
None
Patio and Porch features
Porch
Basement
Partial, Crawl Space
Subdivision
Warder
Lot features
Residential Lot
Elementary school district
1206 Springfield CSD
Middle school district
1206 Springfield CSD
High school district
1206 Springfield CSD
Directions
Lagonda to address. On the corner of Farlow and Lagonda.
Standard status
Active
APN
3400700029306010
Size
2,373 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Space Heater
Cooling system
Window Unit(s)
Building Details
Year built
1920
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet, Laminate
Building materials
Vinyl Siding
Listing Agency:
Roost Real Estate Co.
Listed By:
Priscilla L. McNamee · License #2003017795
(937) 390-3715
Added: Feb 14
Changed: Sep 13
Last Checked: Oct 15 at 1:06PM
MLS# 1043773
Copyright © 2026 Western Regional Information System & Technology, Inc. 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 2,373-square-foot triplex contains three separately entered living spaces. The upper apartment has two bedrooms, while another unit is arranged with an office/bedroom, storage room, and half bath. The main-level apartment is configured as a spacious one-bedroom residence and may be reworked into a larger bedroom count, subject to improvements and layout decisions.
The sale includes two parcels, with the additional parcel at 0 Farlow used for off-street parking according to the property information. Recent and prior improvements include replacement windows, vinyl siding, updated electric panels, and a complete tear-off roof completed in 2004. The property was built in 1920 and has public sewer service, natural-gas heating, forced air, space-heater capability, window-unit cooling, and a porch. Gas is served through one meter, with the owner currently paying gas, water, sewer, and trash expenses.
The sale includes two parcels, with the additional parcel at 0 Farlow used for off-street parking according to the property information. Recent and prior improvements include replacement windows, vinyl siding, updated electric panels, and a complete tear-off roof completed in 2004. The property was built in 1920 and has public sewer service, natural-gas heating, forced air, space-heater capability, window-unit cooling, and a porch. Gas is served through one meter, with the owner currently paying gas, water, sewer, and trash expenses.
Key Highlights
- Three‑unit configuration within 2,373 square feet
- Two parcels included in the sale
- Three separate entrances serve the individual units
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
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Current Use
Lease Details
3
Residential units
Yes
Paved road access
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Multifamily property with separate entrances, varied unit layouts, and an included second parcel.
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‑unit configuration within 2,373 square feet; Two parcels included in the sale; Three separate entrances serve the individual units
