Updated Duplex with Private
For Sale
$177,500
263 North Isabella Street, Springfield, OH 45504
Two-unit rental property with basements, covered porches, hardwood floors, and separate entrances for each residence.
Property Size2,112 SF
Price / SF$84.04
Days on Market150
Property Features for 263 North Isabella Street
General Information
Standard status
Active
Size
2,112 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$1,270
Amenities
Central Air
Forced Air, Natural Gas
Full, Unfinished
Hardwood
Gas Water Heater
Yes
2
4
2.0
Porch
Building Details
Year Built
1928
Listing Agency:
Roost Real Estate Co.
(937) 390-3715
Listed By:
Priscilla L. McNamee · License #2003017795
(937) 390-3715
Source:
Compass
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 8:31AM
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 Roost Real Estate Co.
Investment Insights
Based on property information with market context.
This 2,112-square-foot duplex, built in 1928, includes two residences with private entrances and covered front porches. Each unit offers an updated kitchen, newer flooring, hardwood floors in the main living areas, central air, forced-air heating, and a spacious layout with a large living room. Both residences also include a full unfinished basement with laundry and storage space, plus separate garage space.
Recent mechanical improvements include updated furnaces, water heaters, and electric panels. The property sits on a manageable lot with off-street access at 263 North Isabella Street in Springfield, Ohio. Current tenants occupy the units under month-to-month agreements, providing flexibility for continued rental operation or an owner-occupant arrangement.
Recent mechanical improvements include updated furnaces, water heaters, and electric panels. The property sits on a manageable lot with off-street access at 263 North Isabella Street in Springfield, Ohio. Current tenants occupy the units under month-to-month agreements, providing flexibility for continued rental operation or an owner-occupant arrangement.
Key Highlights
- 2,112‑square‑foot duplex with two residential units
- Each unit has a private entrance and covered front porch
- Updated kitchens, newer flooring, hardwood main living areas, and central air
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
$7,168
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
4.04%
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%
$143,360
$143.4K
Cap Rate 7%
$102,400
$102.4K
Cap Rate 9%
$79,644
$79.6K
Market Conditions
NOI Build-Up for 2,112 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
$11.2K $5.28/SF
− Vacancy
−$911 −$0.43/SF
EGI
$10.2K $4.85/SF
− OpEx
−$3.1K −$1.45/SF
NOI
$7.2K $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%
$143,360
Cap Rate 7%
$102,400
Cap Rate 9%
$79,644
Alternative Uses
Best Use
Multifamily LT 5
$102.4K
$89.6K – $119.5K
NOI $7,168 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$88.7K
$77.6K – $103.5K
NOI $6,211 @ 7.0% cap · market cap 3.50%
Theoretical Best
Specialty Retail
$589.1K
$515.5K – $687.3K
NOI $41,237 @ 7.0% cap · market cap 23.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
379
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit rental property with basements, covered porches, hardwood floors, and separate entrances for each residence.
Where is this duplex located?
The property is located at 263 North Isabella Street Springfield, OH.
What is the asking price?
The asking price for this property is $177,500.
What are key features of this property?
This property features: 2,112‑square‑foot duplex with two residential units; Each unit has a private entrance and covered front porch; Updated kitchens, newer flooring, hardwood main living areas, and central air
