Updated Duplex with Detached
For Sale
$184,900
Pending
462-462.5 Stanton Avenue, Springfield, OH 45503
Multi-Family, Springfield, OH
Property Size2,189 SF
Lot Size0.17 Acres
Days on Market49
Property Features for 462-462.5 Stanton Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bathroom 2, Bedroom 6, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 5
Patio and Porch features
Deck, Porch
Fireplace
1
Basement
Unfinished
Appliances
Range, Refrigerator
Subdivision
Rodgers
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 Stanton Ave.
Standard status
Pending
APN
3400700035222015
Size
2,189 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Building Details
Year built
1911
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Listing Agency:
Gallery Homes Real Estate, LLC
Listed By:
Miranda Bragg
(937) 505-3553
Added: Aug 7
Changed: Sep 15
Last Checked: Sep 24 at 12:06AM
MLS# 1047593
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.
Investment Insights
Based on property information with market context.
This upper-and-lower duplex in Springfield includes 2,189 square feet of property size on a 0.17-acre lot. The upper unit has refreshed flooring, countertops, a new vanity, interior paint, and an added bedroom closet. The lower unit combines refinished hardwood floors with updated luxury vinyl plank flooring, new lighting, and refreshed interior finishes. Both units include brand-new appliances and fresh paint. The property also features a fireplace, porch, renovated rear deck, and vinyl siding.
Exterior improvements include a new garage door, off-street parking, and a detached two-car garage for vehicle storage or tenant use. Natural gas heating and public sewer serve the property. Built in 1911, the duplex is located at 462-462.5 Stanton Avenue in Springfield, Ohio. Both units are currently vacant, allowing immediate occupancy or tenant selection without existing lease obligations.
Exterior improvements include a new garage door, off-street parking, and a detached two-car garage for vehicle storage or tenant use. Natural gas heating and public sewer serve the property. Built in 1911, the duplex is located at 462-462.5 Stanton Avenue in Springfield, Ohio. Both units are currently vacant, allowing immediate occupancy or tenant selection without existing lease obligations.
Key Highlights
- Upper‑and‑lower duplex with both units currently vacant
- 2,189 square feet on a 0.17‑acre lot
- Detached two‑car garage with new garage door
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$7,430
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$148,600
$148.6K
Cap Rate 7%
$106,143
$106.1K
Cap Rate 9%
$82,556
$82.6K
Market Conditions
NOI Build-Up for 2,189 SF
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.
Gross rent
$11.6K $5.28/SF
− Vacancy
−$944 −$0.43/SF
EGI
$10.6K $4.85/SF
− OpEx
−$3.2K −$1.45/SF
NOI
$7.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$148,600
Cap Rate 7%
$106,143
Cap Rate 9%
$82,556
Alternative Uses
Best Use
Multifamily LT 5
$106.1K
$92.9K – $123.8K
NOI $7,430 @ 7.0% cap · market cap 4.02%
Second Best
Apartment 5plus
$92.0K
$80.5K – $107.3K
NOI $6,437 @ 7.0% cap · market cap 3.48%
Theoretical Best
Specialty Retail
$610.6K
$534.3K – $712.3K
NOI $42,740 @ 7.0% cap · market cap 23.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,030
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
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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?
Duplex - Updated upper-and-lower layout with separate living spaces, brand-new appliances, off-street parking, and a detached garage.
Where is this duplex located?
The property is located at 462-462.5 Stanton Avenue Springfield, OH.
What is the asking price?
The asking price for this property is $184,900.
What are key features of this property?
This property features: Upper‑and‑lower duplex with both units currently vacant; 2,189 square feet on a 0.17‑acre lot; Detached two‑car garage with new garage door
