Six-Unit Apartment
411 S Limestone Street, Springfield, OH 45505
For Sale
$295,000
Multi-Family, Springfield, OH
Property Size3,506 SF
Lot Size0.14 Acres
Price / SF$84.14
Days on Market1216
Property Features for 411 S Limestone Street
General Information
Property type
Property subtype
Zoning description
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Patio and Porch features
Basement
Appliances
Subdivision
Lot features
Elementary school district
Middle school district
High school district
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Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Utilities
Sewer type
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Building Details
Year built
Floors in Building
Number of units
Building materials
Buildings
Listing Agency:
Lagonda Creek Real Estate, LLC
Listed By:
Charlene Roberge · License #2006004954
(937) 342-9995
Added: Jul 11, 2023
Changed: Oct 25
Last Checked: Nov 7 at 11:06PM
MLS# 1026445
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.
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Investment Insights
Based on property information with market context.
Built in 1900, this 3,506-square-foot brick apartment property contains six units: four efficiencies and two one-bedroom residences. The building includes porches, five bathrooms, natural gas heating with forced air, and a gas water heater. Public sewer serves the property, and detached three-car carports provide on-site covered parking.
The property occupies 0.14 acres within Springfield’s Historic District at 411 S Limestone Street, Springfield, Ohio 45505. Its unit mix combines compact efficiency residences with larger one-bedroom layouts in a historic brick building.
The property occupies 0.14 acres within Springfield’s Historic District at 411 S Limestone Street, Springfield, Ohio 45505. Its unit mix combines compact efficiency residences with larger one-bedroom layouts in a historic brick building.
Key Highlights
- Six‑unit apartment building with four efficiencies and two 1‑bedroom units
- 3,506 square feet on a 0.14‑acre parcel
- Brick construction dating to 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,310
Cap Rate
3.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,200
$206.2K
Cap Rate 7%
$147,286
$147.3K
Cap Rate 9%
$114,556
$114.6K
Market Conditions
NOI Build-Up for 3,506 SF
Gross rent
$20.5K $5.85/SF
− Vacancy
−$1.8K −$0.50/SF
EGI
$18.7K $5.35/SF
− OpEx
−$8.4K −$2.41/SF
NOI
$10.3K $2.94/SF
Area
Clark County, OH
Vacancy
8.60%
Lease Rate
$5.85 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$206,200
Cap Rate 7%
$147,286
Cap Rate 9%
$114,556
Alternative Uses
Best Use
Apartment 5plus
$147.3K
$128.9K – $171.8K
NOI $10,310 @ 7.0% cap · market cap 3.49%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$977.9K
$855.7K – $1.14M
NOI $68,455 @ 7.0% cap · market cap 23.21%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,036
Businesses Nearby
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Business Placement
Demographics for 45505, OH
19,708
Population
9,365
Households
2.1
Avg Household Size
38
Median Age
10%
College-Educated
84%
High-School Grad
13.6 sq mi
ZIP Area
1,449
Density / Sq Mi
$42,409
Median Household Income
$30,322
Median Earnings
$802
Median Rent
$87,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Brick multifamily property with efficiency and one-bedroom layouts plus detached carport parking.
Where is this apartment building located?
The property is located at 411 S Limestone Street Springfield, OH.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Six‑unit apartment building with four efficiencies and two 1‑bedroom units; 3,506 square feet on a 0.14‑acre parcel; Brick construction dating to 1900
