Quadplex with Decks and
For Sale
$199,000
1606-1608 W High Street, Springfield, OH 45506
MULTI_FAMILY - Other - Springfield, OH
Property Size2,816 SF
Lot Size0.22 Acres
Price / SF$70.67
Days on Market98
Property Features for 1606-1608 W High Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 4, Bedroom 4, Bathroom 2, Bedroom 2, Bathroom 3
Patio and Porch features
Porch, Deck
Basement
Unfinished, Block
Appliances
Gas Water Heater
Lot features
Residential Lot
Elementary school district
1206 Springfield CSD
Middle school district
1206 Springfield CSD
High school district
1206 Springfield CSD
Directions
West High St to address
Subdivision
014 S OF MAIN / W OF LIMESTONE
Standard status
Active
APN
3400600010206017
Size
2,816 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Amenities
wood flooring
wood plank flooring
vinyl flooring
large windows
private front porch
private deck
Building Details
Year built
1900
Floors in Building
2
Number of units
4
Flooring type
Hardwood, Vinyl
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Roost Real Estate Co.
(937) 390-3715
Listed By:
Tina Bleything · License #2016002796
(937) 390-3715
Added: May 4
Changed: Aug 5
Last Checked: Aug 9 at 12:06AM
MLS# 1045449
Copyright © 2026 Western Regional Information System & Technology, Inc. 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 four-unit apartment building provides four separate 1-bedroom, 1-bath homes. Flooring includes hardwood and vinyl surfaces, with wood-plank flooring in the kitchens and low-maintenance vinyl flooring in the bathrooms. Large windows throughout each unit bring in natural light. The lower units feature a private front porch, while the upper units offer a private deck to the back of the home.
Two upper units are currently vacant. Tenants are in place on a yearly lease structure through 2/2027 and 3/2027. The property is located on the west side of Springfield, with public sewer service. Heating is provided by forced air systems using natural gas, and the building is finished with vinyl siding.
Additional conveniences include a one-car detached garage for each unit. Constructed in 1900, the property is offered with a 48-hour notice requirement for showings.
Two upper units are currently vacant. Tenants are in place on a yearly lease structure through 2/2027 and 3/2027. The property is located on the west side of Springfield, with public sewer service. Heating is provided by forced air systems using natural gas, and the building is finished with vinyl siding.
Additional conveniences include a one-car detached garage for each unit. Constructed in 1900, the property is offered with a 48-hour notice requirement for showings.
Key Highlights
- 0.22‑acre quadplex property built in 1900
- Four 1‑bedroom, 1‑bath units with hardwood and vinyl flooring
- Two upper units currently vacant
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
$9,558
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
4.80%
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%
$191,160
$191.2K
Cap Rate 7%
$136,543
$136.5K
Cap Rate 9%
$106,200
$106.2K
Market Conditions
NOI Build-Up for 2,816 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
$14.9K $5.28/SF
− Vacancy
−$1.2K −$0.43/SF
EGI
$13.7K $4.85/SF
− OpEx
−$4.1K −$1.45/SF
NOI
$9.6K $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%
$191,160
Cap Rate 7%
$136,543
Cap Rate 9%
$106,200
Alternative Uses
Best Use
Multifamily LT 5
$136.5K
$119.5K – $159.3K
NOI $9,558 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$118.3K
$103.5K – $138.0K
NOI $8,281 @ 7.0% cap · market cap 4.16%
Theoretical Best
Specialty Retail
$785.5K
$687.3K – $916.4K
NOI $54,983 @ 7.0% cap · market cap 27.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
Explore this area
Business Placement
Demographics for 45506, OH
13,330
Population
6,613
Households
2
Avg Household Size
39
Median Age
13%
College-Educated
87%
High-School Grad
12.2 sq mi
ZIP Area
1,093
Density / Sq Mi
$40,132
Median Household Income
$34,774
Median Earnings
$800
Median Rent
$101,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four 1-bedroom, 1-bath units with vinyl siding, wood and vinyl flooring, and private decks or a front porch.
Where is this quadplex located?
The property is located at 1606-1608 W High Street Springfield, OH.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 0.22‑acre quadplex property built in 1900; Four 1‑bedroom, 1‑bath units with hardwood and vinyl flooring; Two upper units currently vacant
