306-308 E Northern Ave · Springfield, OH 45503

$109,000

4 bd · 2.0 ba · 1,484 sqft · MultiFamily · 89 Days on market

Built 1919 Good condition 5,227 sqft lot $73/sqft · 29% below area Est $153k · 29% under ↓ 18% since listing

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +3.8/5.0
• Livability +2.8/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Rental property 1 bedroom downstairs, with newer carpet, the front porch has been completely updated with composite decking, the upstairs attic has been converted into 2 bedrooms with 1 bedroom on the second floor, the backyard is fenced in with parking in the rear.

Key facts

• Front porch updated
• Backyard fenced
• Composite decking

Tags

• FRONT PORCH UPDATED
• COMPOSITE DECKING
• UPSTAIRS ATTIC CONVERTED
• BACKYARD FENCED
• PARKING IN REAR

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/?-bath units multifamily listed at $109k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $672 ($8k/yr) — positive. Per door: $336/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $102k (6.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 4.4% in Springfield — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 56/100 on livability (#1,108 in OH) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Springfield City School District (urban): math 20% / reading 27% proficiency, ranked #616 of 656 in OH (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lagonda Elementary School (math 16% / reading 25%, grade F, #1,279 of 1,584 statewide, top 81%, 363 students, 0% FRL); Roosevelt Middle School (math 30% / reading 36%, grade F, #553 of 654 statewide, top 85%, 397 students, 0% FRL); Springfield High School (math 17% / reading 31%, grade F, #665 of 781 statewide, top 85%, 1,516 students, 0% FRL) — zoned schools average 0% FRL vs 75% district-wide (75 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 278 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Clark County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($102k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $102,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.66% ✓
• Cap rate: 13.69%
• Cash-on-cash: 26.42%
• DSCR: 2.18
• GRM: 5.0

CMA / ARV

• ARV (median comp): $153,317
• List price: $109,000
• Delta: -28.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1663-1665 Brentwood Dr	0.48mi	4/2.0	1,520 (+2%)	4mo	$155,000	$102	71
472 Stanton Ave	0.36mi	4/2.0	1,471 (-1%)	18mo	$107,100	$73	67
1681 Brentwood Dr	0.51mi	4/2.0	1,552 (+5%)	9mo	$165,000	$106	61
876 E Mccreight Ave	0.52mi	4/2.0	1,728 (+16%)	5mo	$130,000	$75	46
913-915 Mitchell Blvd	0.58mi	4/2.0	1,728 (+16%)	4mo	$172,000	$100	45
1309-1311 W Cedarview Dr	0.52mi	4/2.0	1,728 (+16%)	18mo	$166,000	$96	36
1330-1332 E Cedarview Dr	0.61mi	4/2.0	1,728 (+16%)	24mo	$152,000	$88	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.2%
• Equity multiple: 1.82×
• Total profit: $25,157
• Equity at exit: $16,252

10-year hold

• IRR: 28.5%
• Equity multiple: 3.53×
• Total profit: $77,120
• Equity at exit: $9,424

Cash invested: $30,520 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 73 Landlord-Friendly
• State Ohio: 73 Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day notice; Cleveland / Columbus have some habitability code enforcement; otherwise landlord-leaning.

Methodology + full state rankings →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 2 active · 2 under contract
• Months of supply: 4.0 mo (25%/mo absorbed)
• Median asking: $176,200 ($102/sqft)
• Median days on market: 88 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +1.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 45503

• Active inventory: 278
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,804 medium
• Mortgage (P&I): −$572
• Tax est. 1.5%: −$136 /mo · $1,635/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$379
• Net cashflow: $672

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	—	$1,804
Total (2 units)			$1,804

Break-even live

Break-even rent $954

Max offer price $109,000

Occupancy floor 58%

Sensitivity live

Price	-10% $747	-5% $710	+0% $672	+5% $634	+10% $597
Rent	-10% $529	-5% $601	+0% $672	+5% $743	+10% $814
Rate	-1.0pp $727	-0.5pp $700	base $672	+0.5pp $644	+1.0pp $615

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $27,250
• Closing costs: $3,270
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
606 Mason St Springfield, OH	2.0	1.0	800	$775	$0.97	1d	1	0.39mi
1604 N Yellow Springs St #12 Springfield, OH	1.0	1.0	—	$795	—	87d	1	0.88mi
488 W Harding Rd Unit 510 D Springfield, OH	2.0	1.0	860	$990	$1.15	0d	1	0.96mi
488 W Harding Rd Apt D Springfield, OH	2.0	1.0	—	$970	—	0d	1	0.96mi
488 W Harding Rd #9 Springfield, OH	1.0	1.0	—	$815	—	87d	1	0.96mi
488 W Harding Rd #6 Springfield, OH	1.0	1.0	—	$815	—	0d	1	0.96mi
488 W Harding Rd Springfield, OH	2.0	1.0	—	$930	—	119d	1	0.96mi
30-32 Lagonda Ave Springfield, OH	1.0	1.0	—	$950	—	1d	1	0.97mi
415 N Race St Unit 1/2 Springfield, OH	1.0	1.0	—	$750	—	139d	1	1.01mi
826 Grant St Springfield, OH	2.0	1.0	950	$1,200	$1.26	61d	1	1.18mi
316 N Jackson St Springfield, OH	2.0	1.0	1300	$875	$0.67	61d	1	1.24mi
808 W North St Springfield, OH	2.0	1.0	1806	$1,100	$0.61	0d	1	1.25mi
302 N Western Ave Unit 922 Springfield, OH	2.0	1.0	—	$825	—	114d	1	1.32mi
516 Scott St Springfield, OH	2.0	1.0	—	$1,400	—	1d	1	1.35mi
516 Scott St Unit 1 Springfield, OH	2.0	1.5	—	$1,400	—	1d	1	1.35mi
516-518 Scott St Springfield, OH	2.0	1.0	—	$1,300	—	0d	1	1.35mi
518 Scott St Unit 1 Springfield, OH	2.0	1.5	—	$1,300	—	0d	1	1.35mi
1261 Malden Ave Springfield, OH	2.0	1.0	672	$1,175	$1.75	78d	1	1.36mi
262 Selma Rd Unit 1 Springfield, OH	1.0	1.0	700	$700	$1.00	0d	1	1.39mi
302 Selma Rd Unit 1 Springfield, OH	—	1.0	—	$775	—	0d	1	1.40mi
225 White Cliffs Ct Springfield, OH	1.0	1.0	576	$820	$1.42	0d	1	1.43mi
147 S Shaffer St Springfield, OH	1.0	1.0	900	$875	$0.97	114d	1	1.48mi

Property features AI

Exterior

• Utilities: Supplied waterPublic sewer
• Home design: Multi-family property2 total unitsBuilt in 1919Lot dimensions approximately 40 x 140 feet (0.12 acres)Located in the Northern Estate subdivision
• Construction: Wood siding construction
• Exterior features: Residential lotSupplied waterPublic sewer

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heatingNatural gas heating
• Interior features: Full basement

Listing history 50 events

1. 2026-09-23
   days on market $109,000 Active 89 DOM
2. 2026-09-20
   days on market $109,000 Active 86 DOM
3. 2026-09-18
   days on market $109,000 Active 84 DOM
4. 2026-09-17
   days on market $109,000 Active 83 DOM
5. 2026-09-16
   days on market $109,000 Active 82 DOM
6. 2026-09-15
   days on market $109,000 Active 81 DOM
7. 2026-09-14
   days on market $109,000 Active 80 DOM
8. 2026-09-13
   days on market $109,000 Active 79 DOM
9. 2026-09-12
   days on market $109,000 Active 78 DOM
10. 2026-09-11
    days on market $109,000 Active 77 DOM
11. 2026-09-05
    days on market $109,000 Active 71 DOM
12. 2026-09-04
    days on market $109,000 Active 70 DOM
13. 2026-09-03
    days on market $109,000 Active 69 DOM
14. 2026-09-02
    days on market $109,000 Active 68 DOM
15. 2026-08-30
    days on market $109,000 Active 65 DOM
16. 2026-08-29
    days on market $109,000 Active 64 DOM
17. 2026-08-28
    days on market $109,000 Active 63 DOM
18. 2026-08-27
    days on market $109,000 Active 62 DOM
19. 2026-08-26
    days on market $109,000 Active 61 DOM
20. 2026-08-25
    days on market $109,000 Active 60 DOM
21. 2026-08-24
    days on market $109,000 Active 59 DOM
22. 2026-08-23
    days on market $109,000 Active 58 DOM
23. 2026-08-22
    days on market $109,000 Active 57 DOM
24. 2026-08-21
    days on market $109,000 Active 56 DOM
25. 2026-08-20
    days on market $109,000 Active 55 DOM
26. 2026-08-19
    days on market $109,000 Active 54 DOM
27. 2026-08-18
    pricestatusdays on market $109,000 Active 53 DOM
28. 2026-07-25
    status $129,000 Pending 52 DOM
29. 2026-07-24
    days on market $129,000 Active 52 DOM
30. 2026-07-23
    days on market $129,000 Active 51 DOM
31. 2026-07-22
    days on market $129,000 Active 50 DOM
32. 2026-07-21
    pricedays on market $129,000 Active 49 DOM
33. 2026-07-18
    days on market $139,000 Active 46 DOM
34. 2026-07-17
    days on market $139,000 Active 44 DOM
35. 2026-07-16
    days on market $139,000 Active 43 DOM
36. 2026-07-14
    days on market $139,000 Active 42 DOM
37. 2026-07-13
    days on market $139,000 Active 41 DOM
38. 2026-07-12
    days on market $139,000 Active 40 DOM
39. 2026-07-11
    days on market $139,000 Active 39 DOM
40. 2026-07-10
    days on market $139,000 Active 38 DOM
41. 2026-07-09
    days on market $139,000 Active 37 DOM
42. 2026-07-08
    days on market $139,000 Active 36 DOM
43. 2026-07-07
    days on market $139,000 Active 35 DOM
44. 2026-07-06
    days on market $139,000 Active 34 DOM
45. 2026-07-05
    days on market $139,000 Active 33 DOM
46. 2026-07-04
    days on market $139,000 Active 32 DOM
47. 2026-07-03
    days on market $139,000 Active 31 DOM
48. 2026-07-03
    days on market $139,000 Active 30 DOM
49. 2026-07-01
    days on market $139,000 Active 29 DOM
50. 2026-06-30
    days on market $139,000 Active 28 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,648
• − Mortgage interest: −$6,106
• − Property taxes: −$1,635
• − Insurance: −$545
• − Repairs & maintenance: −$1,732
• − Management: −$1,732
• − Depreciation: −$3,171
• Taxable income: $6,728
• Est. tax owed @ 24.0%: −$1,615
• After-tax cash flow: $6,448/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $7,420–$22,260 screening

This multi-family property is in good condition with recent updates, making it a solid investment opportunity.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace gutters — Improves drainage and reduces maintenance costs ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 26/100

Zoned Schools

Elementary Lagonda Elementary School F OH #1,279/1,584 Nat'l #33,158/41,679 Middle Roosevelt Middle School F OH #553/654 Nat'l #8,059/14,009 High Springfield High School F OH #665/781 Nat'l #13,437/17,239

Schools (NCES district)

• District: Springfield City School District
• NCES district ID: 3904481
• Math proficiency: 20% ▼ -16.00%
• Reading proficiency: 27% ▼ -12.00%
• Median HH income: $32,541
• Composite: 19.12/100
• National rank: #8834
• State rank: #616 of 656 in OH

D Composite livability gradescore 56/100

Livability — Springfield

• Score: 56/100
• State rank: #1108
• US rank: #22551

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Springfield, OH
• County: Clark · 130,703 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 32,673
• Household income: $54,561
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 5% of renters

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Population outlook (Clark County) Hauer SSP2

• Today (2025): 130,703 people
• By 2030: 126,952 · -2.9%
• By 2040: 118,344 · -9.5%
• By 2050: 109,590 · -16.2%
• By 2075: 89,464 · -31.6%
• By 2100: 68,810 · -47.4%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1%

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Political lean MEDSL · Clark

• 2024 margin: Strong R (+29.5) · D 34.8% · R 64.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -2.5pp · 2024: -29.5pp
• All cycles: 2024: R+29.5 2020: R+23.3 2016: R+19.5 2012: R+1.8 2008: R+2.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -211.92%
• Current HPI: 257.5694
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

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Industry mix (Fortune 500 HQ in OH)

Industry	F500 HQs	Revenue
▸Insurance	3	$145B
▸Industrial Machinery	3	$49B
▸Financial Services	3	$24B
▸Consumer Goods	2	$93B
▸Aerospace / Defense	2	$47B
▸Utilities	2	$33B

Property features AI

Exterior

• Utilities: Supplied waterPublic sewer
• Home design: Multi-family property2 total unitsBuilt in 1919Lot dimensions approximately 40 x 140 feet (0.12 acres)Located in the Northern Estate subdivision
• Construction: Wood siding construction
• Exterior features: Residential lotSupplied waterPublic sewer

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heatingNatural gas heating
• Interior features: Full basement

Price history

-17.8% since first listed

3 events — show timeline

• 2026-06-24 Price Changed $139,000 WRIST
• 2026-06-08 Price Changed $149,900 WRIST
• 2026-06-02 Listed $169,000 WRIST