1501 East High Street, Springfield, OH 45505
Fully occupied duplex with larger unit layouts and tenant-friendly off-street parking.
- Added:
- Apr 16, 2026
- Days on Market:
- 54
- Last Refresh:
- Jun 6 at 2:50 am
Property Features for 1501 East High Street
General Information
- Standard status
- Active
- Size
- 4,058 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1901
Listing agent Kelvin Hernandez License #2025000877 (614) 779-4621
Listing office Red 1 Realty (614) 779-4621
Listing date Apr 16, 2026
Source Compass
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All listing content including descriptions, pricing, images are the copyrighted material of Red 1 Realty
HighLights
- Fully occupied 4,000+ sqft duplex with two oversized units and in‑place income
- Unit 1501: 3 bed / 1 bath; Unit 202: 4 bed / 1.5 bath
- Rents are $1,500/month per unit with long‑term tenants wanting to remain (per seller)
- Each unit has approx. 2,000 SF of living space (to seller’s best knowledge)
- Tenants are on month‑to‑month arrangements, providing flexibility for new ownership (per seller)
- Includes off‑street parking for 8 vehicles; gas forced‑air heating and central air (per interior features)
Overview
According to the seller, the duplex generates $1,500 per month per unit with long-term tenants who wish to remain. Tenants are currently on month-to-month arrangements, which can provide flexibility for new ownership while maintaining established rental history (per seller). The property also includes a spacious parking area that accommodates 8 vehicles, supporting convenient day-to-day use for residents.
For buyers seeking a residential income property, this duplex’s combination of larger unit sizes, in-place occupancy, and existing tenant continuity may appeal to an owner-operator or investor looking to continue established leasing arrangements. The unit mix and off-street parking are practical considerations for tenants, and the month-to-month terms can allow a new owner to evaluate lease structures and ongoing property management needs (per seller).
Local 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 | $21.4k | $5.28 |
| − Vacancy | −$1.8k | −$0.43 |
| EGI | $19.7k | $4.85 |
| − OpEx | −$5.9k | −$1.45 |
| NOI | $13.8k | $3.39 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Clark
- State
- Ohio
- Longitude
- -83.7871056
- Latitude
- 39.9209707
