1524 W North Street, Springfield, OH 45504
For Sale
$139,900
The vacant property can accommodate owner occupancy or rental of either or both units.
Property Size1,976 SF
Price / SF$70.80
Days on Market13
Property Features for 1524 W North Street
General Information
Standard status
Size
Property subtype
Additional Details
Highway Access
Multifamily Units
Building Details
Year Built
Listing Agency:
Howard Hanna Real Estate Serv
(937) 433-1776
Listed By:
Kali R Spirtos
(937) 604-0001
Source:
Johnsonwebbrealty
Added: Oct 26
Changed: Nov 7
Last Checked: Nov 7 at 12:41PM
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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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1893, this 1,976-square-foot duplex is vacant and configured for two units. A heat pump installed in 2019 replaced the building’s two gas furnaces. The property’s current condition allows a new owner to make updates and choose whether to occupy it or lease one or both units.
Parking is available beside the building and on the street, and the site has room for a garage. Restaurants, shopping, schools, and interstates are nearby.
Parking is available beside the building and on the street, and the site has room for a garage. Restaurants, shopping, schools, and interstates are nearby.
Key Highlights
- 1,976‑square‑foot duplex built in 1893
- Currently vacant, with two units available for occupancy or leasing
- Heat pump installed in 2019 replaced two gas furnaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,707
Cap Rate
4.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$134,140
$134.1K
Cap Rate 7%
$95,814
$95.8K
Cap Rate 9%
$74,522
$74.5K
Market Conditions
NOI Build-Up for 1,976 SF
Gross rent
$10.4K $5.28/SF
− Vacancy
−$852 −$0.43/SF
EGI
$9.6K $4.85/SF
− OpEx
−$2.9K −$1.45/SF
NOI
$6.7K $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%
$134,140
Cap Rate 7%
$95,814
Cap Rate 9%
$74,522
Alternative Uses
Best Use
Multifamily LT 5
$95.8K
$83.8K – $111.8K
NOI $6,707 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$83.0K
$72.6K – $96.9K
NOI $5,811 @ 7.0% cap · market cap 4.15%
Theoretical Best
Specialty Retail
$551.2K
$482.3K – $643.0K
NOI $38,581 @ 7.0% cap · market cap 27.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Explore this area
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
$167,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Springfield, OH
Properties on Market for Duplexes in Springfield
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - The vacant property can accommodate owner occupancy or rental of either or both units.
Where is this duplex located?
The property is located at 1524 W North Street Springfield, OH.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: 1,976‑square‑foot duplex built in 1893; Currently vacant, with two units available for occupancy or leasing; Heat pump installed in 2019 replaced two gas furnaces
