Duplex with Oversized
1501 East High Street Springfield, OH 45505
For Sale
$239,500
Fully occupied duplex with larger unit layouts and tenant-friendly off-street parking.
Property Size4,058 SF
Price / SF$59.02
Days on Market138
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 Agency:
Red 1 Realty
(614) 779-4621
Listed By:
Kelvin Hernandez · License #2025000877
(614) 779-4621
Source:
Compass
Added: Mar 14
Changed: Jul 10
Last Checked: Jul 28 at 3:18PM
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 Red 1 Realty
Investment Insights
Based on property information with market context.
This 2-unit duplex offers oversized living layouts with two separate residences under one property. The units are configured as Unit 1501 with 3 bedrooms and 1 bathroom, and Unit 202 with 4 bedrooms and 1.5 bathrooms. To the seller’s best knowledge, each unit provides approximately 2,000 square feet of living space. The property is described as being in functional condition and is currently fully occupied.
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).
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).
Key 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)
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 |
4,058 SF · lease $5.28/SF/yr · vacancy 8.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$196.8K
$172.2K – $229.6K
NOI $13,773 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$170.5K
$149.2K – $198.9K
NOI $11,934 @ 7.0% cap · market cap 4.98%
Theoretical Best
Specialty Retail
$1.13M
$990.4K – $1.32M
NOI $79,233 @ 7.0% cap · market cap 33.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Fully occupied duplex with larger unit layouts and tenant-friendly off-street parking.
Where is this duplex located?
The property is located at 1501 East High Street Springfield, OH.
What is the asking price?
The asking price for this property is $239,500.
What are key features of this property?
This property features: 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)
