1866 Maiden Ln · Springfield, OH 45504

$167,000

3 bd · 2.0 ba · 1,378 sqft · MultiFamily public records · 119 Days on market

Built 1911 4,950 sqft lot $121/sqft · 93% above area

---

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
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 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 MLS

Great investment opportunity! This 2-unit property offers practical living space and solid rental potential. One unit includes 2 bedrooms, while the second unit features 1 bedroom--providing flexible options for tenants or an owner-occupant setup. Conveniently located just minutes from dining, grocery stores, and highway access. Walking distance to Snyder Park and Snyder Park Elementary School, this property offers easy access to everyday necessities and commuting routes. Whether you're looking to add to your rental portfolio or live in one unit and rent the other, this duplex presents a straightforward opportunity with room to make it your own.

Key facts

• 2 unit property
• 4,950 sq ft lot
• Built 1911

Tags

• INVESTMENT OPPORTUNITY
• 2 UNIT PROPERTY

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $167k.

Deal economics

• At list price, monthly cash flow is $644 ($8k/yr) — positive. Per door: $322/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $167k).
• Recommended offer: $152k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• This rent runs 39% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 $47k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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 $32k; list at $167k implies a 422% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $151,970 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% 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 1911 — 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: 1.31% ✓
• Cap rate: 10.92%
• Cash-on-cash: 16.53%
• DSCR: 1.74
• GRM: 6.4

CMA / ARV

• ARV (median comp): $86,570
• List price: $167,000
• Delta: 92.91%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
216 Walter St	0.44mi	2/— (-1)	1,240 (-10%)	21mo	$34,500	$28	40

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: 7.6%
• Equity multiple: 1.30×
• Total profit: $13,953
• Equity at exit: $24,900

10-year hold

• IRR: 16.9%
• Equity multiple: 2.39×
• Total profit: $64,939
• Equity at exit: $14,439

Cash invested: $46,760 (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: 12.7×

Monthly cashflow live

• Estimated rent: $2,191 medium
• Mortgage (P&I): −$876
• Tax from tax record: −$141 /mo · $1,697/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $644

Break-even live

Break-even rent $1,376

Max offer price $167,000

Occupancy floor 66%

Sensitivity live

Price	-10% $739	-5% $691	+0% $644	+5% $597	+10% $550
Rent	-10% $471	-5% $558	+0% $644	+5% $731	+10% $817
Rate	-1.0pp $728	-0.5pp $687	base $644	+0.5pp $601	+1.0pp $557

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,192
Total (2 units)			$2,191

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: $41,750
• Closing costs: $5,010
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
307 N Isabella St Unit 309 Springfield, OH	3.0	1.5	1300	$1,400	$1.08	4d	1	0.49mi
826 Grant St Springfield, OH	2.0	1.0	950	$1,200	$1.26	4d	1	0.86mi
220 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	24d	1	1.24mi
302 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,845	$1.27	12d	1	1.24mi
356 S Yellow Springs St Springfield, OH	4.0	2.0	1606	$1,825	$1.14	12d	1	1.25mi
523 W Mulberry St Springfield, OH	4.0	2.0	1456	$1,825	$1.25	12d	1	1.29mi
524 W Pleasant St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	12d	1	1.30mi
306 S Plum St Springfield, OH	4.0	2.0	1352	$1,700	$1.26	45d	1	1.38mi

Listing history 25 events

1. 2026-06-19
   days on market $167,000 Active 119 DOM
2. 2026-06-18
   days on market $167,000 Active 118 DOM
3. 2026-06-17
   days on market $167,000 Active 117 DOM
4. 2026-06-16
   days on market $167,000 Active 116 DOM
5. 2026-06-15
   days on market $167,000 Active 115 DOM
6. 2026-06-14
   days on market $167,000 Active 113 DOM
7. 2026-06-12
   days on market $167,000 Active 112 DOM
8. 2026-06-09
   days on market $167,000 Active 109 DOM
9. 2026-06-08
   days on market $167,000 Active 108 DOM
10. 2026-06-07
    pricedays on market $167,000 Active 107 DOM
11. 2026-06-05
    days on market $168,000 Active 104 DOM
12. 2026-06-02
    days on market $168,000 Active 102 DOM
13. 2026-06-01
    days on market $168,000 Active 101 DOM
14. 2026-05-31
    days on market $168,000 Active 100 DOM
15. 2026-05-30
    days on market $168,000 Active 99 DOM
16. 2026-04-15
    price $168,000 653-char remark

    Show marketing remark (654 chars)

    Great investment opportunity! This 2-unit property offers practical living space and solid rental potential. One unit includes 2 bedrooms, while the second unit features 1 bedroom--providing flexible options for tenants or an owner-occupant setup. Conveniently located just minutes from dining, grocery stores, and highway access. Walking distance to Snyder Park and Snyder Park Elementary School, this property offers easy access to everyday necessities and commuting routes. Whether you're looking to add to your rental portfolio or live in one unit and rent the other, this duplex presents a straightforward opportunity with room to make it your own.

17. 2026-04-15
    price $168,000 654-char remark

    Show marketing remark (654 chars)

    Great investment opportunity! This 2-unit property offers practical living space and solid rental potential. One unit includes 2 bedrooms, while the second unit features 1 bedroom--providing flexible options for tenants or an owner-occupant setup. Conveniently located just minutes from dining, grocery stores, and highway access. Walking distance to Snyder Park and Snyder Park Elementary School, this property offers easy access to everyday necessities and commuting routes. Whether you're looking to add to your rental portfolio or live in one unit and rent the other, this duplex presents a straightforward opportunity with room to make it your own.

18. 2026-02-20
    listed $169,000 Active 653-char remark

    Show marketing remark (654 chars)

    Great investment opportunity! This 2-unit property offers practical living space and solid rental potential. One unit includes 2 bedrooms, while the second unit features 1 bedroom--providing flexible options for tenants or an owner-occupant setup. Conveniently located just minutes from dining, grocery stores, and highway access. Walking distance to Snyder Park and Snyder Park Elementary School, this property offers easy access to everyday necessities and commuting routes. Whether you're looking to add to your rental portfolio or live in one unit and rent the other, this duplex presents a straightforward opportunity with room to make it your own.

19. 2026-02-20
    listed $169,000 Active 654-char remark

    Show marketing remark (654 chars)

    Great investment opportunity! This 2-unit property offers practical living space and solid rental potential. One unit includes 2 bedrooms, while the second unit features 1 bedroom--providing flexible options for tenants or an owner-occupant setup. Conveniently located just minutes from dining, grocery stores, and highway access. Walking distance to Snyder Park and Snyder Park Elementary School, this property offers easy access to everyday necessities and commuting routes. Whether you're looking to add to your rental portfolio or live in one unit and rent the other, this duplex presents a straightforward opportunity with room to make it your own.

20. 2016-09-20
    soldstatus $32,000
21. 2016-09-16
    soldstatus $32,000
22. 2016-07-21
    listed $33,900
23. 2010-06-29
    soldstatus $6,000
24. 2010-05-18
    listed $8,000
25. 2002-12-17
    soldstatus $42,000

ⓘ 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: $1,697 · $141/mo
• Projected year-2 tax: $2,151 · $179/mo
• Expected delta: +$454/yr (+$38/mo · 26.7%)

ⓘ 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: $26,292
• − Mortgage interest: −$9,355
• − Property taxes: −$1,697
• − Insurance: −$835
• − Repairs & maintenance: −$2,103
• − Management: −$2,103
• − Depreciation: −$4,858
• Taxable income: $5,340
• Est. tax owed @ 24.0%: −$1,282
• After-tax cash flow: $6,447/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

+300.0% since first listed

10 events — show timeline

• 2026-04-15 Price Changed $168,000 Dayton MLS
• 2026-04-15 Price Changed $168,000 WRIST
• 2026-02-20 Listed $169,000 WRIST
• 2026-02-20 Listed $169,000 Dayton MLS
• 2016-09-20 Sold (Public Records) $32,000 Public Records
• 2016-09-16 Sold (MLS) $32,000 WRIST
• 2016-07-21 Listed $33,900 WRIST
• 2010-06-29 Sold (MLS) $6,000 WRIST
• 2010-05-18 Listed $8,000 WRIST
• 2002-12-17 Sold (Public Records) $42,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,697 · +9.0% YoY. Source: county tax records.