Updated Two-Unit
New
For Sale
$110,000
1307 Selma Rd, Springfield, OH 45505
Two refreshed residences offer separate entrances, laundry hookups, and a detached garage.
Property Size2,361 SF
Price / SF$46.59
Days on Market6
Property Features for 1307 Selma Rd
General Information
Standard status
Active
Size
2,361 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1.5BA, 1 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
private backyard
in-unit laundry hookups
high-speed internet readiness
Building Details
Year Built
1918
Listing Agency:
Eb Real Estate
(937) 548-4663
Listed By:
Streetlight Realty
(937) 626-4181
Source:
Streetlightrealtors
Added: Sep 18
Changed: Sep 23
Last Checked: Sep 22 at 4:04PM
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 Eb Real Estate
Investment Insights
Based on property information with market context.
Built in 1918, this 2361-square-foot duplex contains two separate residences with private front and rear entrances. The lower home includes two bedrooms, one and a half baths, and a partially finished full basement. The upper residence offers two bedrooms and one full bath. Both units feature refreshed kitchens, modern flooring, updated bathrooms, and fresh paint.
Additional property features include in-unit laundry hookups, high-speed internet readiness, a private backyard, and a two-car detached garage. Utilities are separately metered for each unit, excluding water. The property is located at 1307 Selma Rd in Springfield, Ohio, near schools and everyday amenities.
Additional property features include in-unit laundry hookups, high-speed internet readiness, a private backyard, and a two-car detached garage. Utilities are separately metered for each unit, excluding water. The property is located at 1307 Selma Rd in Springfield, Ohio, near schools and everyday amenities.
Key Highlights
- Two‑unit duplex with 2361 square feet, built in 1918
- Lower unit includes 2 bedrooms, 1.5 baths, and a partially finished full basement
- Upper unit includes 2 bedrooms and 1 full bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$8,013
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.28%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$160,260
$160.3K
Cap Rate 7%
$114,471
$114.5K
Cap Rate 9%
$89,033
$89.0K
Market Conditions
NOI Build-Up for 2,361 SF
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.
Gross rent
$12.5K $5.28/SF
− Vacancy
−$1.0K −$0.43/SF
EGI
$11.4K $4.85/SF
− OpEx
−$3.4K −$1.45/SF
NOI
$8.0K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$160,260
Cap Rate 7%
$114,471
Cap Rate 9%
$89,033
Alternative Uses
Best Use
Multifamily LT 5
$114.5K
$100.2K – $133.6K
NOI $8,013 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$99.2K
$86.8K – $115.7K
NOI $6,943 @ 7.0% cap · market cap 6.31%
Theoretical Best
Specialty Retail
$658.6K
$576.2K – $768.3K
NOI $46,099 @ 7.0% cap · market cap 41.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 45505, OH
19,708
Population
9,365
Households
2.1
Avg Household Size
38
Median Age
10%
College-Educated
84%
High-School Grad
13.6 sq mi
ZIP Area
1,449
Density / Sq Mi
$42,409
Median Household Income
$30,322
Median Earnings
$802
Median Rent
$87,500
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed residences offer separate entrances, laundry hookups, and a detached garage.
Where is this duplex located?
The property is located at 1307 Selma Rd Springfield, OH.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Two‑unit duplex with 2361 square feet, built in 1918; Lower unit includes 2 bedrooms, 1.5 baths, and a partially finished full basement; Upper unit includes 2 bedrooms and 1 full bath
