Fully Remodeled
For Sale
$259,950
218 N Jackson Street, Springfield, OH 45504
MULTI_FAMILY - Springfield, OH
Property Size2,400 SF
Lot Size0.01 Acres
Price / SF$108.31
Days on Market51
Property Features for 218 N Jackson Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 6, Bedroom 2, Bathroom 3, Bedroom 4, Bathroom 4, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 8, Bathroom 2, Bedroom 7
Basement
Full
Appliances
Dryer, Microwave, Range, Refrigerator
Elementary school district
1206 Springfield CSD
Middle school district
1206 Springfield CSD
High school district
1206 Springfield CSD
Directions
From: Clark County Fairgrounds, Exit the parking lot, Turn left, Turn left onto State Rte 41 N, Turn right onto S Belmont Ave, Turn left onto US-40 W/E Main St, Turn right onto N Jackson St, Destination will be on the right
Subdivision
011 N O MAIN / W OF LIMESTONE
Standard status
Active
APN
3400600005417026
Size
2,400 SF
Lot size
0.01 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Building Details
Year built
1913
Number of units
2
Flooring type
Carpet, Tile, Laminate
Building materials
Vinyl Siding
Listing Agency:
Chosen Real Estate Group
(330) 249-3499
Listed By:
Nicholas Huscroft · License #2022001015
(330) 249-3499
Added: Jul 3
Changed: Aug 5
Last Checked: Aug 22 at 8:06AM
MLS# 1046845
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 fully remodeled duplex offers two occupied units with long-term paying tenants, each on 3-year leases. Improvements include updated electrical, new plumbing, new furnaces, refreshed kitchens and bathrooms, along with new windows, doors, drywall, trim, paint, siding, facia, and a brand-new roof.
The duplex was built in 1913 and totals 2,400 square feet. Heating is forced air, and the property is served by public sewer. Flooring includes tile, laminate, and carpet, and the home includes appliances such as a refrigerator, range, microwave, and dryer. Vinyl siding is listed as the construction material.
Set on a 0.01-acre lot, this property’s updates cover both systems and finishes, supporting a lower-maintenance ownership experience compared with many older rentals.
The duplex was built in 1913 and totals 2,400 square feet. Heating is forced air, and the property is served by public sewer. Flooring includes tile, laminate, and carpet, and the home includes appliances such as a refrigerator, range, microwave, and dryer. Vinyl siding is listed as the construction material.
Set on a 0.01-acre lot, this property’s updates cover both systems and finishes, supporting a lower-maintenance ownership experience compared with many older rentals.
Key Highlights
- Two occupied units with long‑term tenants on 3‑year leases
- Extensive remodel: updated electrical, new plumbing, new furnaces, new roof
- Built in 1913 with 2,400 SF and a 0.01‑acre lot
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
$8,146
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
3.13%
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%
$162,920
$162.9K
Cap Rate 7%
$116,371
$116.4K
Cap Rate 9%
$90,511
$90.5K
Market Conditions
NOI Build-Up for 2,400 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
$12.7K $5.28/SF
− Vacancy
−$1.0K −$0.43/SF
EGI
$11.6K $4.85/SF
− OpEx
−$3.5K −$1.45/SF
NOI
$8.1K $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%
$162,920
Cap Rate 7%
$116,371
Cap Rate 9%
$90,511
Alternative Uses
Best Use
Multifamily LT 5
$116.4K
$101.8K – $135.8K
NOI $8,146 @ 7.0% cap · market cap 3.13%
Second Best
Apartment 5plus
$100.8K
$88.2K – $117.6K
NOI $7,058 @ 7.0% cap · market cap 2.72%
Theoretical Best
Specialty Retail
$669.4K
$585.8K – $781.0K
NOI $46,860 @ 7.0% cap · market cap 18.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
526
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
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?
Duplex - Duplex with long-term tenants under 3-year leases and extensive updates, including new roof, electrical, plumbing, furnaces, and windows.
Where is this duplex located?
The property is located at 218 N Jackson Street Springfield, OH.
What is the asking price?
The asking price for this property is $259,950.
What are key features of this property?
This property features: Two occupied units with long‑term tenants on 3‑year leases; Extensive remodel: updated electrical, new plumbing, new furnaces, new roof; Built in 1913 with 2,400 SF and a 0.01‑acre lot
