Occupied Duplex with Oversized
For Sale
$229,500
1501 E High Street, Springfield, OH 45505
MULTI_FAMILY - Springfield, OH
Property Size4,000 SF
Lot Size0.17 Acres
Price / SF$57.38
Days on Market105
Property Features for 1501 E High Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
3
Rooms
Bedroom 1, Bedroom 2, Bedroom 3
Parking
8
Elementary school district
SPRINGFIELD CSD 1206 CLA CO.
Middle school district
SPRINGFIELD CSD 1206 CLA CO.
High school district
SPRINGFIELD CSD 1206 CLA CO.
Standard status
Active
APN
3400700028204001
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2468
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1901
Number of units
2
Listing Agency:
Red 1 Realty
(614) 585-9020
Listed By:
Kelvin Hernandez · License #2025000877
(614) 779-4621
Added: Apr 17
Changed: Jul 30
Last Checked: Jul 30 at 10:06PM
MLS# 226012601
Copyright © 2026 Columbus and Central Ohio Multiple Listing Service. 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 fully occupied duplex presents two separate residential units with oversized living layouts. Unit 1501 is a 3-bedroom, 1-bath configuration, while Unit 202 is a 4-bedroom, 1.5-bath configuration. To the seller’s best knowledge, each unit features approximately 2,000 square feet of living space. The property is described as being in functional condition.
The duplex includes a spacious parking area accommodating 8 vehicles. Tenants are currently on month-to-month arrangements, providing flexibility for new ownership while maintaining proven rental history, according to the seller.
With two well-sized units and in-place occupancy, the property is positioned for an owner seeking a straightforward duplex structure with ongoing tenant continuity.
The duplex includes a spacious parking area accommodating 8 vehicles. Tenants are currently on month-to-month arrangements, providing flexibility for new ownership while maintaining proven rental history, according to the seller.
With two well-sized units and in-place occupancy, the property is positioned for an owner seeking a straightforward duplex structure with ongoing tenant continuity.
Key Highlights
- Fully occupied 2‑unit duplex with long‑term tenants in place generating $1,500/month per unit
- Unit 1501 offers 3 beds and 1 bath; Unit 202 offers 4 beds and 1.5 baths
- Each unit features approximately 2,000 sq ft of living space (to seller's best knowledge), totaling 4,000+ sq ft
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 | $21.1k | $5.28 |
| − Vacancy | −$1.7k | −$0.43 |
| EGI | $19.4k | $4.85 |
| − OpEx | −$5.8k | −$1.45 |
| NOI | $13.6k | $3.39 |
4,000 SF · lease $5.28/SF/yr · vacancy 8.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$193.9K
$169.7K – $226.3K
NOI $13,576 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$168.0K
$147.0K – $196.1K
NOI $11,763 @ 7.0% cap · market cap 5.13%
Theoretical Best
Specialty Retail
$1.12M
$976.3K – $1.30M
NOI $78,100 @ 7.0% cap · market cap 34.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,299
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex offers two large units with separate bedroom and bath configurations plus parking for eight vehicles.
Where is this duplex located?
The property is located at 1501 E High Street Springfield, OH.
What is the asking price?
The asking price for this property is $229,500.
What are key features of this property?
This property features: Fully occupied 2‑unit duplex with long‑term tenants in place generating $1,500/month per unit; Unit 1501 offers 3 beds and 1 bath; Unit 202 offers 4 beds and 1.5 baths; Each unit features approximately 2,000 sq ft of living space (to seller's best knowledge), totaling 4,000+ sq ft
