Renovated Duplex With Three-Bed
For Sale
Under Contract
$185,000
457-459 E Madison Avenue, Springfield, OH 45503
MULTI_FAMILY - Other - Springfield, OH
Property Size3,212 SF
Lot Size0.17 Acres
Price / SF$57.60
Days on Market41
Property Features for 457-459 E Madison Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
6
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 1, Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 6, Bathroom 3, Bedroom 2, Bathroom 2
Parking features
None
Interior features
Attic
Fireplace
1
Basement
Full, Unfinished
Subdivision
Rodgers Place
Lot features
Residential Lot
Elementary school district
1206 Springfield CSD
Middle school district
1206 Springfield CSD
High school district
1206 Springfield CSD
Directions
N. Limestone to right on E Madison Ave
Standard status
Active Under Contract
APN
3400700035222004
Size
3,212 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Building Details
Year built
1913
Floors in Building
2
Number of units
2
Flooring type
Wood
Building materials
Aluminum Siding, Vinyl Siding
Architectural style
Other
Listing Agency:
Roost Real Estate Co.
(937) 390-3715
Listed By:
Tina Bleything · License #2016002796
(937) 390-3715
Added: Jun 20
Changed: Jul 28
Last Checked: Jul 30 at 10:06PM
MLS# 1046562
Copyright © 2026 West Metro Board of REALTORS®. 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 duplex is configured as two side-by-side units at 457 and 459 E Madison Avenue. The larger 457 unit offers three large bedrooms and 1.5 baths, along with an attic that can be used as a potential fourth bedroom. The 459 unit has three large bedrooms and one bath. Both units include living room and dining room areas with woodwork and wood flooring. A decorative fireplace is present with a gas hookup; the fireplace itself is not warranted. The property also features built-in seating with storage under the bay window, supported by large windows, and kitchens that have been renovated with new cabinetry and countertops.
The home sits on a 0.17-acre lot in Springfield, Ohio (Clark County). It presents an inviting front porch at the entry.
For buyers, the layout supports owner-occupancy with rental income potential, or a straightforward two-unit investment approach. The added attic space in the 457 unit may appeal to tenants seeking more flexible bedroom arrangements, while both units’ finished living and dining spaces are designed for comfortable everyday use.
The home sits on a 0.17-acre lot in Springfield, Ohio (Clark County). It presents an inviting front porch at the entry.
For buyers, the layout supports owner-occupancy with rental income potential, or a straightforward two-unit investment approach. The added attic space in the 457 unit may appeal to tenants seeking more flexible bedroom arrangements, while both units’ finished living and dining spaces are designed for comfortable everyday use.
Key Highlights
- Double (2 units) built in 1913—option to live in one side and rent the other.
- Unit 457: 3 bedrooms, 1.5 baths, plus an attic that can be used as a 4th bedroom.
- Unit 459: 3 bedrooms, 1 bath.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $17.0k | $5.28 |
| − Vacancy | −$1.4k | −$0.43 |
| EGI | $15.6k | $4.85 |
| − OpEx | −$4.7k | −$1.45 |
| NOI | $10.9k | $3.39 |
3,212 SF · lease $5.28/SF/yr · vacancy 8.17% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$155.7K
$136.3K – $181.7K
NOI $10,902 @ 7.0% cap · market cap 5.89%
Second Best
Apartment 5plus
$134.9K
$118.1K – $157.4K
NOI $9,446 @ 7.0% cap · market cap 5.11%
Theoretical Best
Specialty Retail
$895.9K
$783.9K – $1.05M
NOI $62,714 @ 7.0% cap · market cap 33.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
703
Businesses Nearby
Explore this area
Business Placement
Demographics for 45503, OH
32,870
Population
15,458
Households
2.1
Avg Household Size
44
Median Age
17%
College-Educated
89%
High-School Grad
17.5 sq mi
ZIP Area
1,878
Density / Sq Mi
$54,561
Median Household Income
$36,761
Median Earnings
$871
Median Rent
$153,100
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 - Two-unit duplex featuring renovated kitchens, woodwork floors, and multiple bedroom options for flexible living arrangements.
Where is this duplex located?
The property is located at 457-459 E Madison Avenue Springfield, OH.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Double (2 units) built in 1913—option to live in one side and rent the other.; Unit 457: 3 bedrooms, 1.5 baths, plus an attic that can be used as a 4th bedroom.; Unit 459: 3 bedrooms, 1 bath.
