Triplex with Adjacent
New
For Sale
$185,000
126 E Cassilly Street, Springfield, OH 45504
Three apartments include two larger units and a third-floor one-bedroom residence.
Property Size3,350 SF
Price / SF$55.22
Days on Market7
Property Features for 126 E Cassilly Street
General Information
Standard status
Active
Size
3,350 SF
Property subtype
Residential Income
Zoning
Residential
Amenities
true
3
2
5
Assessor
false
Public
4055
67x65x42x12x25x53
0.093
No Garage
Cellar
3350
Building Details
Building Size
3,350 SF
Year Built
1913
Stories
2
Listing Agency:
Howard Hanna Real Estate Serv
(937) 433-1776
Listed By:
John M Kiefaber
Source:
Johnsonwebbrealty
Added: Oct 26
Changed: Oct 31
Last Checked: Oct 31 at 3:31AM
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 Howard Hanna Real Estate Serv
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Investment Insights
Based on property information with market context.
This 3,350-square-foot triplex, built in 1913, contains three apartments. The first- and second-floor units each have two bedrooms, with room for a potential third bedroom; the third-floor apartment has one bedroom. Recent interior work includes bathroom and flooring updates and fresh paint. The roof was updated approximately six years ago.
An adjacent lot is included and may provide off-street parking or additional outdoor space. The property is located a few blocks from Wittenberg University and minutes from downtown Springfield, Snyder Park, Buck Creek, shopping, dining, and the local bike trail system.
An adjacent lot is included and may provide off-street parking or additional outdoor space. The property is located a few blocks from Wittenberg University and minutes from downtown Springfield, Snyder Park, Buck Creek, shopping, dining, and the local bike trail system.
Key Highlights
- 3,350 square feet across three apartments
- Built in 1913
- First- and second‑floor apartments each have 2 bedrooms, with potential for a third
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,370
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$227,400
$227.4K
Cap Rate 7%
$162,429
$162.4K
Cap Rate 9%
$126,333
$126.3K
Market Conditions
NOI Build-Up for 3,350 SF
Gross rent
$17.7K $5.28/SF
− Vacancy
−$1.4K −$0.43/SF
EGI
$16.2K $4.85/SF
− OpEx
−$4.9K −$1.45/SF
NOI
$11.4K $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%
$227,400
Cap Rate 7%
$162,429
Cap Rate 9%
$126,333
Alternative Uses
Best Use
Multifamily LT 5
$162.4K
$142.1K – $189.5K
NOI $11,370 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$140.7K
$123.2K – $164.2K
NOI $9,852 @ 7.0% cap · market cap 5.33%
Theoretical Best
Specialty Retail
$934.4K
$817.6K – $1.09M
NOI $65,409 @ 7.0% cap · market cap 35.36%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
763
Businesses Nearby
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Business Placement
Demographics for 45504, OH
17,343
Population
7,100
Households
2.4
Avg Household Size
41
Median Age
27%
College-Educated
92%
High-School Grad
22.0 sq mi
ZIP Area
788
Density / Sq Mi
$67,334
Median Household Income
$38,813
Median Earnings
$889
Median Rent
$167,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments include two larger units and a third-floor one-bedroom residence.
Where is this triplex located?
The property is located at 126 E Cassilly Street 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: 3,350 square feet across three apartments; Built in 1913; First- and second‑floor apartments each have 2 bedrooms, with potential for a third
