Historic Duplex with Private
New
For Sale
$299,000
331 Prescott Street, Mansfield, OH 44903
ResidentialIncome, Mansfield, OH
Property Size2,312 SF
Lot Size0.84 Acres
Price / SF$129.33
Days on Market5
Property Features for 331 Prescott Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 1, Bathroom 2, Basement, Bedroom 2, Bedroom 3, Bathroom 1
Parking features
Carport
Window features
Wood Frames
Interior features
EntranceFoyer, KitchenIsland, OpenFloorplan
Exterior features
Balcony
Subdivision
Mansfield
Lot features
Gentle Sloping, Landscaped
Elementary school district
Mansfield CSD - 7006
Middle school district
Mansfield CSD - 7006
High school district
Mansfield CSD - 7006
Directions
The home is located at the corner of Springmill St and Prescott St
Standard status
Active
APN
027-04-062-11-000
Size
2,312 SF
Lot size
0.84 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
4367 EX 7 FT TRI N S 61.7 X 126.4
Tax Annual Amount
156
Legal Description
4367 EX 7 FT TRI N S 61.7 X 126.4
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
private balconies
cupola loft
common area basement storage
in-suite laundry
Building Details
Year built
1860
Floors in Building
2
Building materials
Brick
Roof type
Shingle
Listing Agency:
RE/MAX Real Estate Group · RE/MAX International
(440) 333-1230
Listed By:
Dante DiBenedetto · License #2026001332
(440) 822-0918
Added: Oct 1
Last Checked: Oct 5 at 6:06PM
MLS# 5249664
Copyright © 2026 MLS Now. 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.
Dating to 1860, this brick Italianate home is configured as a two-unit property with 2,312 square feet of interior space. Each residence occupies a full level and includes two bedrooms, a kitchen, a full bathroom, in-unit laundry, and living space. Private balconies serve both units, and the upper residence also features a cupola loft. Basement storage and a covered two-car carport provide additional practical space. The rehabilitation was overseen by the Ohio Historic Preservation Office and the Ohio Department of Development. The property includes a tax abatement.
The 0.84-acre parcel spans seven city lots in Mansfield. A small park with a fountain and waterfall sits across the street, and Oak Hill Cottage is nearby. I-71, restaurants, and shopping are within a five-minute drive.
The 0.84-acre parcel spans seven city lots in Mansfield. A small park with a fountain and waterfall sits across the street, and Oak Hill Cottage is nearby. I-71, restaurants, and shopping are within a five-minute drive.
Key Highlights
- Two residences, each with two bedrooms, a kitchen, full bath, and in‑unit laundry
- 2,312 square feet in an 1860 Italianate brick home
- 0.84 acres across seven city lots
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,211
Cap Rate
6.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,220
$384.2K
Cap Rate 7%
$274,443
$274.4K
Cap Rate 9%
$213,456
$213.5K
Market Conditions
NOI Build-Up for 2,312 SF
Gross rent
$29.1K $12.60/SF
− Vacancy
−$1.7K −$0.73/SF
EGI
$27.4K $11.87/SF
− OpEx
−$8.2K −$3.56/SF
NOI
$19.2K $8.31/SF
Area
Richland County, OH
Vacancy
5.79%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$384,220
Cap Rate 7%
$274,443
Cap Rate 9%
$213,456
Alternative Uses
Best Use
Multifamily LT 5
$274.4K
$240.1K – $320.2K
NOI $19,211 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$245.6K
$214.9K – $286.6K
NOI $17,194 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$465.1K
$407.0K – $542.7K
NOI $32,560 @ 7.0% cap · market cap 10.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
Explore this area
Business Placement
Demographics for 44903, OH
25,613
Population
11,425
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
114.1 sq mi
ZIP Area
224
Density / Sq Mi
$65,421
Median Household Income
$36,553
Median Earnings
$811
Median Rent
$177,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Two self-contained residences offer separate kitchens, laundry, and living areas in a rehabilitated historic home.
Where is this duplex located?
The property is located at 331 Prescott Street Mansfield, OH.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two residences, each with two bedrooms, a kitchen, full bath, and in‑unit laundry; 2,312 square feet in an 1860 Italianate brick home; 0.84 acres across seven city lots
