2-Unit Duplex with Finished
New
For Sale
$174,900
816 Homestead Ave, Springfield, OH 45503
Separate residences feature refreshed kitchens and bathrooms, plus a covered patio and fenced yard.
Property Size1,786 SF
Price / SF$97.93
Days on Market2
Property Features for 816 Homestead Ave
General Information
Standard status
Active
Size
1,786 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$174,900
Amenities
covered back patio
fenced backyard
partially finished basement
laundry facilities
Building Details
Year Built
1939
Buildings
1
Listing Agency:
Cutler Real Estate
(614) 401-5334
Listed By:
Streetlight Realty
(937) 626-4181
Source:
Streetlightrealtors
Added: Oct 23
Last Checked: Oct 23 at 4:55PM
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 Cutler Real Estate
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Investment Insights
Based on property information with market context.
This 1,786-square-foot duplex, built in 1939, contains two separate residences: a three-bedroom, one-bathroom lower unit and a one-bedroom, one-bathroom upper unit. Both kitchens and bathrooms have been updated. The lower residence also has central air conditioning and a stainless steel dishwasher, refrigerator, and double-basin sink. Some windows have been updated, and the home has vinyl siding.
A partially finished basement includes laundry facilities and space for additional uses. Outside, the property features a covered rear patio, a fenced backyard, and a detached one-car garage. The home is on Springfield’s east side near C.J. Brown Reservoir and Buck Creek State Park, with access toward Columbus.
A partially finished basement includes laundry facilities and space for additional uses. Outside, the property features a covered rear patio, a fenced backyard, and a detached one-car garage. The home is on Springfield’s east side near C.J. Brown Reservoir and Buck Creek State Park, with access toward Columbus.
Key Highlights
- Two separate units: a three‑bedroom, one‑bathroom lower residence and a one‑bedroom, one‑bathroom upper residence
- 1,786 square feet; built in 1939
- Updated kitchens and bathrooms; some updated windows and vinyl siding
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$6,062
Cap Rate
3.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$121,240
$121.2K
Cap Rate 7%
$86,600
$86.6K
Cap Rate 9%
$67,356
$67.4K
Market Conditions
NOI Build-Up for 1,786 SF
Gross rent
$9.4K $5.28/SF
− Vacancy
−$770 −$0.43/SF
EGI
$8.7K $4.85/SF
− OpEx
−$2.6K −$1.45/SF
NOI
$6.1K $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%
$121,240
Cap Rate 7%
$86,600
Cap Rate 9%
$67,356
Alternative Uses
Best Use
Multifamily LT 5
$86.6K
$75.8K – $101.0K
NOI $6,062 @ 7.0% cap · market cap 3.47%
Second Best
Apartment 5plus
$75.0K
$65.7K – $87.5K
NOI $5,252 @ 7.0% cap · market cap 3.00%
Theoretical Best
Specialty Retail
$498.2K
$435.9K – $581.2K
NOI $34,872 @ 7.0% cap · market cap 19.94%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
349
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate residences feature refreshed kitchens and bathrooms, plus a covered patio and fenced yard.
Where is this duplex located?
The property is located at 816 Homestead Ave Springfield, OH.
What is the asking price?
The asking price for this property is $174,900.
What are key features of this property?
This property features: Two separate units: a three‑bedroom, one‑bathroom lower residence and a one‑bedroom, one‑bathroom upper residence; 1,786 square feet; built in 1939; Updated kitchens and bathrooms; some updated windows and vinyl siding
