126 E Cassilly St · Springfield, OH 45504

$179,800

6 bd · 3.0 ba · 3,350 sqft · MultiFamily public records · 32 Days on market

Built 1913 4,055 sqft lot Est $154k · 17% over

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Why this score? — see what drove the C 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

This spacious three-unit investment property in Springfield's College Hill neighborhood offers strong income potential and a highly desirable location near Wittenberg University, just minutes from downtown Springfield, Snyder Park, Buck Creek, bike paths, and more. Built in 1913 with approximately 3,350 square feet, the property features two large units on the first and second floors, each offering 2 bedrooms with a possible 3rd bedroom, a large living area, and a kitchen. The third-floor unit includes 1 bedroom, a living area, kitchen, and bath. Current rental potential is impressive, with the first and second floor units renting for $1,500 per month each and the third-floor unit at $800 per month, creating a total potential gross income of $3,800 per month. Tenants pay their own gas and electric, while the landlord covers water, trash, and sewer. With its size, layout, location, and solid rental structure, this property presents a fantastic opportunity for an investor seeking strong cash flow and long-term upside.

Key facts

• Extra parking
• Three unit property
• Large living area

Tags

• UPDATED ROOF
• EXTRA PARKING
• PRIVATE SIDE YARD
• THREE UNIT PROPERTY
• LARGE LIVING AREA
• CURRENT RENTAL POTENTIAL

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 1×1bd/1ba units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $903 ($11k/yr) — positive. Per door: $301/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $174k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.3% vs local median 4.7% 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.
• Market conditions: 93 active listings in the ZIP; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• At $3,191/mo this rent would consume 57% of the median local household income ($67k/yr) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 $50k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $46k; list at $180k implies a 292% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $174,406 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% 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 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.77% ✓
• Cap rate: 12.32%
• Cash-on-cash: 21.52%
• DSCR: 1.96
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $154,100
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
35-37 E Cecil St	0.09mi	6/2.0	3,248 (-3%)	6mo	$150,000	$46	81
404 E Madison Ave	0.23mi	6/2.0	3,232 (-4%)	8mo	$140,000	$43	73
1311-1313 Garfield Ave	0.35mi	6/3.0	3,064 (-8%)	11mo	$230,500	$75	60
505-507 E Madison Ave	0.32mi	6/2.5	3,168 (-5%)	22mo	$128,000	$40	55

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: 14.2%
• Equity multiple: 1.57×
• Total profit: $28,658
• Equity at exit: $26,809

10-year hold

• IRR: 23.1%
• Equity multiple: 2.99×
• Total profit: $100,147
• Equity at exit: $15,546

Cash invested: $50,344 (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 →

ZIP-level market 45504

• Active inventory: 93
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $3,191 medium
• Mortgage (P&I): −$943
• Tax from tax record: −$600 /mo · $7,201/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$670
• Net cashflow: $903

Break-even live

Break-even rent $2,048

Max offer price $179,800

Occupancy floor 67%

Sensitivity live

Price	-10% $1,005	-5% $954	+0% $903	+5% $852	+10% $801
Rent	-10% $651	-5% $777	+0% $903	+5% $1,029	+10% $1,155
Rate	-1.0pp $994	-0.5pp $949	base $903	+0.5pp $856	+1.0pp $809

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,130
1× unit	1	1	$1,061
Total (3 units)			$3,191

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: $44,950
• Closing costs: $5,394
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-19
   days on market $179,800 Active 32 DOM
2. 2026-06-18
   days on market $179,800 Active 31 DOM
3. 2026-06-17
   days on market $179,800 Active 30 DOM
4. 2026-06-17
   remarks 699-char remark
5. 2026-06-17
   price $179,800 Active 29 DOM
6. 2026-06-16
   days on market $179,900 Active 29 DOM
7. 2026-06-15
   days on market $179,900 Active 28 DOM
8. 2026-06-14
   days on market $179,900 Active 26 DOM
9. 2026-06-12
   days on market $179,900 Active 25 DOM
10. 2026-06-09
    days on market $179,900 Active 22 DOM
11. 2026-06-08
    days on market $179,900 Active 21 DOM
12. 2026-06-07
    days on market $179,900 Active 20 DOM
13. 2026-06-05
    days on market $179,900 Active 17 DOM
14. 2026-06-02
    days on market $179,900 Active 15 DOM
15. 2026-06-01
    days on market $179,900 Active 14 DOM
16. 2026-05-31
    days on market $179,900 Active 13 DOM
17. 2026-05-30
    days on market $179,900 Active 12 DOM
18. 2026-04-27
    status Pending 1037-char remark

    Show marketing remark (1037 chars)

    This spacious three-unit investment property in Springfield's College Hill neighborhood offers strong income potential and a highly desirable location near Wittenberg University, just minutes from downtown Springfield, Snyder Park, Buck Creek, bike paths, and more. Built in 1913 with approximately 3,350 square feet, the property features two large units on the first and second floors, each offering 2 bedrooms with a possible 3rd bedroom, a large living area, and a kitchen. The third-floor unit includes 1 bedroom, a living area, kitchen, and bath. Current rental potential is impressive, with the first and second floor units renting for $1,500 per month each and the third-floor unit at $800 per month, creating a total potential gross income of $3,800 per month. Tenants pay their own gas and electric, while the landlord covers water, trash, and sewer. With its size, layout, location, and solid rental structure, this property presents a fantastic opportunity for an investor seeking strong cash flow and long-term upside.

19. 2026-04-27
    status Pending

    Show marketing remark (1037 chars)

    This spacious three-unit investment property in Springfield's College Hill neighborhood offers strong income potential and a highly desirable location near Wittenberg University, just minutes from downtown Springfield, Snyder Park, Buck Creek, bike paths, and more. Built in 1913 with approximately 3,350 square feet, the property features two large units on the first and second floors, each offering 2 bedrooms with a possible 3rd bedroom, a large living area, and a kitchen. The third-floor unit includes 1 bedroom, a living area, kitchen, and bath. Current rental potential is impressive, with the first and second floor units renting for $1,500 per month each and the third-floor unit at $800 per month, creating a total potential gross income of $3,800 per month. Tenants pay their own gas and electric, while the landlord covers water, trash, and sewer. With its size, layout, location, and solid rental structure, this property presents a fantastic opportunity for an investor seeking strong cash flow and long-term upside.

20. 2026-04-22
    status Active 1037-char remark

    Show marketing remark (1037 chars)

    This spacious three-unit investment property in Springfield's College Hill neighborhood offers strong income potential and a highly desirable location near Wittenberg University, just minutes from downtown Springfield, Snyder Park, Buck Creek, bike paths, and more. Built in 1913 with approximately 3,350 square feet, the property features two large units on the first and second floors, each offering 2 bedrooms with a possible 3rd bedroom, a large living area, and a kitchen. The third-floor unit includes 1 bedroom, a living area, kitchen, and bath. Current rental potential is impressive, with the first and second floor units renting for $1,500 per month each and the third-floor unit at $800 per month, creating a total potential gross income of $3,800 per month. Tenants pay their own gas and electric, while the landlord covers water, trash, and sewer. With its size, layout, location, and solid rental structure, this property presents a fantastic opportunity for an investor seeking strong cash flow and long-term upside.

21. 2026-04-22
    status Active

    Show marketing remark (1037 chars)

    This spacious three-unit investment property in Springfield's College Hill neighborhood offers strong income potential and a highly desirable location near Wittenberg University, just minutes from downtown Springfield, Snyder Park, Buck Creek, bike paths, and more. Built in 1913 with approximately 3,350 square feet, the property features two large units on the first and second floors, each offering 2 bedrooms with a possible 3rd bedroom, a large living area, and a kitchen. The third-floor unit includes 1 bedroom, a living area, kitchen, and bath. Current rental potential is impressive, with the first and second floor units renting for $1,500 per month each and the third-floor unit at $800 per month, creating a total potential gross income of $3,800 per month. Tenants pay their own gas and electric, while the landlord covers water, trash, and sewer. With its size, layout, location, and solid rental structure, this property presents a fantastic opportunity for an investor seeking strong cash flow and long-term upside.

22. 2026-04-16
    status Pending 1037-char remark

    Show marketing remark (1037 chars)

    This spacious three-unit investment property in Springfield's College Hill neighborhood offers strong income potential and a highly desirable location near Wittenberg University, just minutes from downtown Springfield, Snyder Park, Buck Creek, bike paths, and more. Built in 1913 with approximately 3,350 square feet, the property features two large units on the first and second floors, each offering 2 bedrooms with a possible 3rd bedroom, a large living area, and a kitchen. The third-floor unit includes 1 bedroom, a living area, kitchen, and bath. Current rental potential is impressive, with the first and second floor units renting for $1,500 per month each and the third-floor unit at $800 per month, creating a total potential gross income of $3,800 per month. Tenants pay their own gas and electric, while the landlord covers water, trash, and sewer. With its size, layout, location, and solid rental structure, this property presents a fantastic opportunity for an investor seeking strong cash flow and long-term upside.

23. 2026-04-16
    status Pending

    Show marketing remark (1037 chars)

    This spacious three-unit investment property in Springfield's College Hill neighborhood offers strong income potential and a highly desirable location near Wittenberg University, just minutes from downtown Springfield, Snyder Park, Buck Creek, bike paths, and more. Built in 1913 with approximately 3,350 square feet, the property features two large units on the first and second floors, each offering 2 bedrooms with a possible 3rd bedroom, a large living area, and a kitchen. The third-floor unit includes 1 bedroom, a living area, kitchen, and bath. Current rental potential is impressive, with the first and second floor units renting for $1,500 per month each and the third-floor unit at $800 per month, creating a total potential gross income of $3,800 per month. Tenants pay their own gas and electric, while the landlord covers water, trash, and sewer. With its size, layout, location, and solid rental structure, this property presents a fantastic opportunity for an investor seeking strong cash flow and long-term upside.

24. 2026-04-10
    listed $185,000 Active 1037-char remark

    Show marketing remark (1037 chars)

    This spacious three-unit investment property in Springfield's College Hill neighborhood offers strong income potential and a highly desirable location near Wittenberg University, just minutes from downtown Springfield, Snyder Park, Buck Creek, bike paths, and more. Built in 1913 with approximately 3,350 square feet, the property features two large units on the first and second floors, each offering 2 bedrooms with a possible 3rd bedroom, a large living area, and a kitchen. The third-floor unit includes 1 bedroom, a living area, kitchen, and bath. Current rental potential is impressive, with the first and second floor units renting for $1,500 per month each and the third-floor unit at $800 per month, creating a total potential gross income of $3,800 per month. Tenants pay their own gas and electric, while the landlord covers water, trash, and sewer. With its size, layout, location, and solid rental structure, this property presents a fantastic opportunity for an investor seeking strong cash flow and long-term upside.

25. 2026-04-10
    listed $185,000 Active

    Show marketing remark (1037 chars)

    This spacious three-unit investment property in Springfield's College Hill neighborhood offers strong income potential and a highly desirable location near Wittenberg University, just minutes from downtown Springfield, Snyder Park, Buck Creek, bike paths, and more. Built in 1913 with approximately 3,350 square feet, the property features two large units on the first and second floors, each offering 2 bedrooms with a possible 3rd bedroom, a large living area, and a kitchen. The third-floor unit includes 1 bedroom, a living area, kitchen, and bath. Current rental potential is impressive, with the first and second floor units renting for $1,500 per month each and the third-floor unit at $800 per month, creating a total potential gross income of $3,800 per month. Tenants pay their own gas and electric, while the landlord covers water, trash, and sewer. With its size, layout, location, and solid rental structure, this property presents a fantastic opportunity for an investor seeking strong cash flow and long-term upside.

26. 2021-10-14
    historical
27. 2021-08-21
    historical
28. 2021-08-17
    price $95,000
29. 2020-10-14
    listed $110,000
30. 2020-10-14
    listed $100,000 Active
31. 2005-02-23
    soldstatus $45,900

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

Tax reassessment forecast OH · Partial reset (capped growth)

• Current annual tax: $7,201 · $600/mo
• Projected year-2 tax: $7,201 · $600/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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: $38,292
• − Mortgage interest: −$10,072
• − Property taxes: −$7,201
• − Insurance: −$899
• − Repairs & maintenance: −$3,063
• − Management: −$3,063
• − Depreciation: −$5,231
• Taxable income: $8,764
• Est. tax owed @ 24.0%: −$2,103
• After-tax cash flow: $8,733/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.

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

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 · 134,280 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 16,654
• Household income: $67,334
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 6.4

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 7% Black 5% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 2% · Canada, China
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -138.72%
• Current HPI: 240.7049
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.98%
• F500 in state: 48

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

Price history

+303.1% since first listed

14 events — show timeline

• 2026-04-27 Pending — WRIST
• 2026-04-27 Pending — Dayton MLS
• 2026-04-22 Relisted — WRIST
• 2026-04-22 Relisted — Dayton MLS
• 2026-04-16 Pending — WRIST
• 2026-04-16 Pending — Dayton MLS
• 2026-04-10 Listed $185,000 Dayton MLS
• 2026-04-10 Listed $185,000 WRIST
• 2021-10-14 Listing Removed — Dayton MLS
• 2021-08-21 Listing Removed — WRIST
• 2021-08-17 Price Changed $95,000 WRIST
• 2020-10-14 Listed $100,000 WRIST
• 2020-10-14 Listed $110,000 Dayton MLS
• 2005-02-23 Sold (Public Records) $45,900 Public Records

Property tax history

+11.2%/yr

Latest (2025): $7,201 · -2.5% YoY. Source: county tax records.