Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2 Ferncliff Pl Springfield, OH 45504-2512

    • Residential income homes
    • 11,212 SF
    • 0.98 lot acres
    OFF-MARKET
    Last Sale
    Jan 21, 2025
    $500,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US66-2604596
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Chi Omega Sorority / Association Or Organization

    Property Details for 2 Ferncliff Pl

    Year built
    1849
    Construction
    BRICK
    Lot size
    0.98 lot acres
    Property size
    11,212 SF
    Property type
    Residential income homes
    Property subtype
    Serviced apartments
    APN
    340-07-00035-303-013
    APU
    3400700035303013

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Clark
    State
    Ohio
    Longitude
    -83.8103
    Latitude
    39.9303
    CBSA code
    44220
    CBSA name
    SPRINGFIELD, OH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $10,162
    $10,620
    $129,420
    $140,040
    -
    $30,350
    $369,760
    $400,110

    Comparable in this City

    • Value Estimation by Request
      8,430 SF

      501 Wittenberg Ave

      BOARDING/ROOMING HOUSE • 8,430 SF
      501 Wittenberg Ave, Springfield, OH 45504-2520
      View Details
    • Value Estimation by Request
      4,316 SF

      1005-1009 Broadway St

      APARTMENT HOUSE (5+ UNITS) • 4,316 SF
      1005-1009 Broadway St, Springfield, OH 45504
      View Details
    • Value Estimation by Request
      3,192 SF

      23 Cassilly St

      GARDEN APT, COURT APT (5+ UNITS) • 3,192 SF
      23 Cassilly St, Springfield, OH 45504-2209
      View Details
    • Value Estimation by Request
      2,640 SF

      107 Madison Ave

      GARDEN APT, COURT APT (5+ UNITS) • 2,640 SF
      107 Madison Ave, Springfield, OH 45504-2268
      View Details
    • Value Estimation by Request
      4,560 SF

      1901 Main St

      APARTMENT HOUSE (5+ UNITS) • 4,560 SF
      1901 Main St, Springfield, OH 45504-3015
      View Details
    • Value Estimation by Request
      4,005 SF

      1020 Fountain Ave

      APARTMENT HOUSE (5+ UNITS) • 4,005 SF
      1020 Fountain Ave, Springfield, OH 45504-2274
      View Details

    Similar Nearby for Sale

    • New
      $99,000
      Pending

      Springfield Duplex: Investment Opportunity

      Duplex in Springfield, Ohio, ideal for investment or owner-occupancy.
      423 N Jackson St, Springfield, OH 45504
      View Details
    • New
      $175,000
      0.17 Acres

      Springfield Duplex Near Wittenberg University

      Well-maintained duplex near Wittenberg University, fully leased, remodeled in 2021.
      1107 N Fountain Ave, Springfield, OH 45504
      View Details
    • $192,900
      1,179 SF

      Renovated Condo in 55+ Community

      Updated condo in Green Lawn Village, a 55+ community.
      2100 Manhattan Blvd, Springfield, OH 45504
      View Details
    • $192,900
      1,179 SF

      Renovated Condo in 55+ Community

      Updated condo in Green Lawn Village, a 55+ community.
      2100 Manhattan Blvd, Springfield, OH 45504
      View Details
    • $192,900

      Renovated Condo in 55+ Community

      Updated condo in Green Lawn Village, a 55+ community.
      2100 Manhattan Blvd, Springfield, OH 45504
      View Details
    • $795,000
      45,000 SF

      Springfield, OH Special Purpose Property

      Historic 45,000 SF building, 8 acres
      3500 National Rd, Springfield, OH 45504
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      80,548 SF

      Warehouse Space with HVAC

      Remaining 396,314 SF warehouse space with full HVAC.
      1475 Upper Valley Pike, Springfield, OH 45504
      View Details
    • $22 SF/Yr
      1,440 SF

      Retail Space Available For Lease

      Retail space available for lease in Springfield, OH.
      1985-2075 N Bechtle Ave, Springfield, OH 45504
      View Details
    • $15 SF/Yr
      7,442 SF

      Freestanding Medical Office Building For Lease

      3,600 SF medical/office building ideal for medical, dental, or professional use.
      1301 W 1St St, Springfield, OH 45504
      View Details
    • Contact for pricing
      2,200 SF

      Retail Space Near Major Retailers

      Retail spaces available near major retailers and a hospital.
      1500 Upper Valley Pike, Springfield, OH 45504
      View Details
    • $17 SF/Yr
      6,000 SF

      Downtown Springfield Office Space

      Prime Office, 6,000 sq ft, Available Now
      5 North St, Springfield, OH 45504
      View Details
    • $25 SF/Yr
      2,175 SF

      Springfield Retail Space - Bechtle Ave

      High-traffic retail space, excellent visibility.
      1830 Bechtle Ave, Springfield, OH 45504
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2 Ferncliff Pl
    Springfield, OH 45504-2512
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.