709-711 W Mulberry St · Springfield, OH 45506

$165,000

6 bd · 2.0 ba · 2,728 sqft · MultiFamily · 108 Days on market

Built 1913 Good condition 7,500 sqft lot $60/sqft · 91% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +2.8/5.0
• Rent growth +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! 6-bedroom, 2-bath duplex ready for your vision. This property offers strong upside potential for investors or buyers looking to build equity. Spacious layouts on both sides provide a solid foundation for value-add improvements. Great opportunity to customize and maximize rental income Spacious living room & dining room. Updates in the past two years include new flooring, HVAC, siding, bathrooms.

Key facts

• 7,500 sq ft lot
• Built 1913
• Listed 107 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $752/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $165k).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 17.2% vs local median 4.8% 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: 45 active listings in the ZIP; lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• At $3,347/mo this rent would consume 95% of the median local household income ($42k/yr) (locally 684% of renters already pay >50% of income on rent) — 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 $46k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 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 1913 — 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: 2.03% ✓
• Cap rate: 17.23%
• Cash-on-cash: 39.06%
• DSCR: 2.74
• GRM: 4.1

CMA / ARV

• ARV (median comp): $86,203
• List price: $165,000
• Delta: 91.41%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
659 W Mulberry St	0.08mi	6/2.0	3,048 (+12%)	12mo	$100,000	$33	67
935 W North St	0.54mi	5/2.0 (-1)	2,716 (-0%)	7mo	$200,000	$74	63
218 N Light St	0.55mi	6/2.0	2,620 (-4%)	17mo	$62,000	$24	53
1362 W Mulberry St	0.54mi	6/2.0	2,400 (-12%)	2mo	$120,000	$50	53
913-915 Broadway St	0.67mi	6/5.0	3,040 (+11%)	23mo	$200,000	$66	18

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: 35.3%
• Equity multiple: 2.50×
• Total profit: $69,095
• Equity at exit: $24,602

10-year hold

• IRR: 42.1%
• Equity multiple: 4.98×
• Total profit: $183,705
• Equity at exit: $14,266

Cash invested: $46,200 (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 45506

• Home prices YoY: -14.1%
• Active inventory: 45
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $3,347 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$703
• Net cashflow: $1,504

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 50%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,346
Total (2 units)			$3,347

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-19
   days on market $165,000 Active 108 DOM
2. 2026-06-18
   days on market $165,000 Active 107 DOM
3. 2026-06-17
   days on market $165,000 Active 106 DOM
4. 2026-06-16
   days on market $165,000 Active 105 DOM
5. 2026-06-15
   days on market $165,000 Active 104 DOM
6. 2026-06-14
   days on market $165,000 Active 102 DOM
7. 2026-06-12
   days on market $165,000 Active 101 DOM
8. 2026-06-09
   days on market $165,000 Active 98 DOM
9. 2026-06-08
   days on market $165,000 Active 97 DOM
10. 2026-06-07
    days on market $165,000 Active 96 DOM
11. 2026-06-05
    days on market $165,000 Active 93 DOM
12. 2026-06-02
    days on market $165,000 Active 91 DOM
13. 2026-06-01
    days on market $165,000 Active 90 DOM
14. 2026-05-31
    days on market $165,000 Active 89 DOM
15. 2026-05-30
    days on market $165,000 Active 88 DOM
16. 2026-03-03
    listed $165,000 Active 436-char remark

    Show marketing remark (436 chars)

    Great Investment Opportunity! 6-bedroom, 2-bath duplex ready for your vision. This property offers strong upside potential for investors or buyers looking to build equity. Spacious layouts on both sides provide a solid foundation for value-add improvements. Great opportunity to customize and maximize rental income Spacious living room & dining room. Updates in the past two years include new flooring, HVAC, siding, bathrooms.

17. 2025-10-22
    status Active
18. 2025-10-22
    status Active
19. 2025-10-20
    status Pending
20. 2025-10-20
    status Pending
21. 2025-10-20
    historical
22. 2025-10-20
    historical
23. 2025-10-14
    listed $79,900 Active
24. 2025-10-14
    listed $79,900 Active

ⓘ 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 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,164
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$3,213
• − Management: −$3,213
• − Depreciation: −$4,800
• Taxable income: $16,395
• Est. tax owed @ 24.0%: −$3,935
• After-tax cash flow: $14,111/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 · 6 photos

Good 75/100 Cosmetic rehab

This 6-bedroom, 2-bath duplex is in good condition with recent updates, including new flooring, HVAC, and siding. It offers a solid foundation for value-add improvements and is ready for a fresh paint job and landscaping to maximize its resale and rental value.

Repairs flagged

• Minor Landscaping — Overgrown grass

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more renters
• Both Painting exterior and interior — Fresh paint can improve curb appeal and interior aesthetics
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more renters

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Overgrown grass	Minor	$500–3,000
Total estimated repair cost · 1 items		$500–3,000

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more renters ↑
• Both Painting exterior and interior — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 County · 33,261 people
• City population: 33,261
• Metro: Springfield, OH
• Population (ZIP): 13,435
• Household income: $42,104
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 684.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 53% Black 30% Two or more races 10% Hispanic / Latino 8%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Serbian 2% Romanian 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 4% Other Asian/Pacific 1%

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: ▼ -46.97%
• Current HPI: 286.2883
• Rent YoY: —
• Metro: Springfield, OH
• 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

+106.5% since first listed

9 events — show timeline

• 2026-03-03 Listed $165,000 Dayton MLS
• 2025-10-22 Relisted — WRIST
• 2025-10-22 Relisted — CBRMLS
• 2025-10-20 Pending — WRIST
• 2025-10-20 Pending — CBRMLS
• 2025-10-20 Listing Removed — WRIST
• 2025-10-20 Listing Removed — CBRMLS
• 2025-10-14 Listed $79,900 CBRMLS
• 2025-10-14 Listed $79,900 WRIST