Brick Triplex with
For Sale
$144,900
3753 W National Road, Springfield, OH 45504
MULTI_FAMILY - Neoclassical - Springfield, OH
Property Size2,440 SF
Lot Size0.32 Acres
Price / SF$59.39
Days on Market53
Property Features for 3753 W National Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 3, Bathroom 2, Bedroom 3, Bathroom 1, Bedroom 2, Bedroom 5, Bedroom 4, Bedroom 1
Parking features
Carport
Window features
Window Coverings
Patio and Porch features
Deck, Porch, Patio
Interior features
Ceiling Fan(s)
Basement
Block, Unfinished
Appliances
Gas Water Heater
Subdivision
Maple Dell
Lot features
Plat, Residential Lot
Elementary school district
1207 Clark-Shawnee LSD
Middle school district
1207 Clark-Shawnee LSD
High school district
1207 Clark-Shawnee LSD
Directions
W National Rd.
Standard status
Active
APN
3000600022208011
Size
2,440 SF
Lot size
0.32 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Septic Tank
Heating system
Radiant, Natural Gas, Forced Air
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1870
Floors in Building
2
Number of units
3
Flooring type
Laminate, Wood
Building materials
Brick, Wood Siding
Architectural style
Neoclassical
Listing Agency:
Local Roots Realty
Listed By:
Rachel Gannon
(937) 308-1883
Added: Jul 9
Changed: Aug 5
Last Checked: Aug 30 at 2:06AM
MLS# 1046939
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 brick triplex offers three residential units arranged with two apartments on the same level and one above. The downstairs layout includes a two-bedroom, one-bath unit and a one-bedroom, one-bath unit, while the upstairs unit is a two-bedroom, one-bath with a very large living space. For tenant convenience, there is a very large carport and a two-car garage.
Work has already been completed on the interior and systems to help reduce the scope of remaining renovations, including flooring installation and new drywall. Two bathrooms are very close to completion and one kitchen is nearly finished. Additional improvements include new mini splits, a roof approximately 10 years old, and previously updated electric and service, plumbing, and the water heater. The home was built in 1870 and features brick and wood siding, with ceiling fan(s) and a mix of heating including natural gas, radiant, and forced air.
Cooling includes window unit(s) and central air, and the property uses a septic tank for sewer service.
Work has already been completed on the interior and systems to help reduce the scope of remaining renovations, including flooring installation and new drywall. Two bathrooms are very close to completion and one kitchen is nearly finished. Additional improvements include new mini splits, a roof approximately 10 years old, and previously updated electric and service, plumbing, and the water heater. The home was built in 1870 and features brick and wood siding, with ceiling fan(s) and a mix of heating including natural gas, radiant, and forced air.
Cooling includes window unit(s) and central air, and the property uses a septic tank for sewer service.
Key Highlights
- 0.32‑acre triplex property with 2,440 SF
- Three units: downstairs two‑bedroom one‑bath, downstairs one‑bedroom one‑bath, upstairs two‑bedroom one‑bath
- Large carport plus two‑car garage
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
$8,281
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
5.71%
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%
$165,620
$165.6K
Cap Rate 7%
$118,300
$118.3K
Cap Rate 9%
$92,011
$92.0K
Market Conditions
NOI Build-Up for 2,440 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
$12.9K $5.28/SF
− Vacancy
−$1.1K −$0.43/SF
EGI
$11.8K $4.85/SF
− OpEx
−$3.5K −$1.45/SF
NOI
$8.3K $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%
$165,620
Cap Rate 7%
$118,300
Cap Rate 9%
$92,011
Alternative Uses
Best Use
Multifamily LT 5
$118.3K
$103.5K – $138.0K
NOI $8,281 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$102.5K
$89.7K – $119.6K
NOI $7,176 @ 7.0% cap · market cap 4.95%
Theoretical Best
Specialty Retail
$680.6K
$595.5K – $794.0K
NOI $47,641 @ 7.0% cap · market cap 32.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
44
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?
Triplex - Triplex with three one- and two-bedroom units, mini splits, and carport with a two-car garage.
Where is this triplex located?
The property is located at 3753 W National Road Springfield, OH.
What is the asking price?
The asking price for this property is $144,900.
What are key features of this property?
This property features: 0.32‑acre triplex property with 2,440 SF; Three units: downstairs two‑bedroom one‑bath, downstairs one‑bedroom one‑bath, upstairs two‑bedroom one‑bath; Large carport plus two‑car garage
