Building Details

Year Built 1881

Buildings 1

Stories 2

Listing Agency: BHHS Professional Realty Show Phone

Listed By: Streetlight Realty Show Phone

Source: Streetlightrealtors

Added: Aug 23 Changed: Oct 15 Last Checked: Oct 14 at 10:58PM

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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 BHHS Professional Realty

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Investment Insights

Based on property information with market context.

This two-story duplex contains 2,264 square feet and was built in 1881. The property includes four bedrooms and two full bathrooms across the two units, providing a straightforward residential income configuration.

Located at 657 W Jefferson St in Springfield, Ohio, the duplex is leased on a month-to-month basis. One side is currently occupied, while the other is scheduled for occupancy at the beginning of the month. The seller pays water and trash service. Showings require 24 hours’ notice to accommodate tenants’ rights.

Key Highlights

• 2,264‑square‑foot duplex built in 1881
• Two‑story layout with four bedrooms and two full bathrooms
• Month‑to‑month lease structure

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$7,684

Cap Rate

8.09%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$153,680 $153.7K

Cap Rate 7%

$109,771 $109.8K

Cap Rate 9%

$85,378 $85.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,264 SF

Gross rent

$12.0K $5.28/SF

− Vacancy

−$977 −$0.43/SF

EGI

$11.0K $4.85/SF

− OpEx

−$3.3K −$1.45/SF

NOI

$7.7K $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 Rate 5%

$153,680

Cap Rate 7%

$109,771

Cap Rate 9%

$85,378

Alternative Uses

Best Use

Multifamily LT 5

$109.8K

$96.1K – $128.1K (±1% cap)

NOI $7,684 @ 7.0% cap · market cap 8.09%

Second Best

Apartment 5plus

$95.1K

$83.2K – $111.0K (±1% cap)

NOI $6,658 @ 7.0% cap · market cap 7.01%

Theoretical Best

Specialty Retail

$631.5K

$552.6K – $736.8K (±1% cap)

NOI $44,205 @ 7.0% cap · market cap 46.53%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Dental Office Locksmith Skin Care Clinic Computer & Electronic Repair Garden Center Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

789

Businesses Nearby

Explore this area Business Placement

Demographics for 45506, OH

13,330

Population

6,613

Households

2

Avg Household Size

39

Median Age

13%

College-Educated

87%

High-School Grad

12.2 sq mi

ZIP Area

1,093

Density / Sq Mi

$40,132

Median Household Income

$34,774

Median Earnings

$800

Median Rent

$101,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Duplex with month-to-month leases and water and trash paid by the seller.

Where is this duplex located?

The property is located at 657 W Jefferson St Springfield, OH.

What is the asking price?

The asking price for this property is $95,000.

What are key features of this property?

This property features: 2,264‑square‑foot duplex built in 1881; Two‑story layout with four bedrooms and two full bathrooms; Month‑to‑month lease structure