Four-Unit Multifamily
For Sale
$139,900
707 High St, Springfield, OH 45506
Income-producing residential asset near downtown Springfield with owner-paid utilities and three occupied units.
Property Size2,546 SF
Price / SF$54.95
Days on Market178
Property Features for 707 High St
General Information
Standard status
Active
Size
2,546 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Listing Agency:
Real Estate II Inc.
(937) 390-3119
Listed By:
Ryan King
(937) 206-2343
Source:
Exprealty
Added: Apr 21
Changed: Oct 14
Last Checked: Oct 15 at 12:38AM
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 Real Estate II Inc.
Investment Insights
Based on property information with market context.
This four-unit multifamily property at 707 High St in Springfield, Ohio, contains 2,546 square feet of residential space. Three of the four units are currently rented, while the seller pays all utilities.
The property is located close to downtown Springfield, providing an established urban setting for a residential income asset. Its four-unit configuration offers a defined small-scale multifamily format for an owner or investor evaluating occupied rental housing.
The property is located close to downtown Springfield, providing an established urban setting for a residential income asset. Its four-unit configuration offers a defined small-scale multifamily format for an owner or investor evaluating occupied rental housing.
Key Highlights
- Four‑unit multifamily property at 707 High St, Springfield, OH
- 2,546 square feet of property size
- 3 of 4 units currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,641
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$172,820
$172.8K
Cap Rate 7%
$123,443
$123.4K
Cap Rate 9%
$96,011
$96.0K
Market Conditions
NOI Build-Up for 2,546 SF
Gross rent
$13.4K $5.28/SF
− Vacancy
−$1.1K −$0.43/SF
EGI
$12.3K $4.85/SF
− OpEx
−$3.7K −$1.45/SF
NOI
$8.6K $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%
$172,820
Cap Rate 7%
$123,443
Cap Rate 9%
$96,011
Alternative Uses
Best Use
Multifamily LT 5
$123.4K
$108.0K – $144.0K
NOI $8,641 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$107.0K
$93.6K – $124.8K
NOI $7,487 @ 7.0% cap · market cap 5.35%
Theoretical Best
Specialty Retail
$710.2K
$621.4K – $828.5K
NOI $49,711 @ 7.0% cap · market cap 35.53%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
521
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
Check the figures for this property
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?
Quadplex - Income-producing residential asset near downtown Springfield with owner-paid utilities and three occupied units.
Where is this quadplex located?
The property is located at 707 High St Springfield, OH.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Four‑unit multifamily property at 707 High St, Springfield, OH; 2,546 square feet of property size; 3 of 4 units currently rented
