7 W Mulberry St · Springfield, OH 45506

$129,900

4 bd · 3.0 ba · 2,185 sqft · MultiFamily public records · 21 Days on market

Built 1861 6,098 sqft lot Est $122k · 6% 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
• ARV discount +4.7/15.0
• 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: 3 units. confirmed

Listing remarks MLS

Investment opportunity in Springfield! This triplex at 7-11 W. Mulberry St. offers a great addition to any investor's portfolio. The property features three units, including two 1-bedroom units and one studio apartment. Recent improvements include fresh paint, new LVP flooring, updates to a bathroom and kitchen, and several newer windows. Unit 7 has recently been painted, and Unit 11 has received new flooring and interior updates. The currently occupied unit is expected to be vacant in early June, providing flexibility for an owner-occupant or investor. Whether you're looking to expand your rental portfolio or explore the opportunity to occupy one unit while generating income from the others, this property offers excellent potential. Conveniently located near downtown Springfield, shopping, dining, and major roadways. Property information and room counts are believed to be accurate but should be independently verified by buyers

Key facts

• Updates to kitchen
• Fresh paint
• Updates to bathroom

Tags

• FRESH PAINT
• NEW LVP FLOORING
• UPDATES TO BATHROOM
• UPDATES TO KITCHEN
• NEWER WINDOWS
• SHOPPING

Property features AI

Finance

• Financial info: Annual property tax listed: $819 (2025)

Exterior

• Home design: Mixed Use property; Built in 1861; Located on W Mulberry St near Fountain
• Construction: Historic construction (original build 1861)
• Exterior features: Lot approximately 0.14 acres

Interior

• Interior features: Mixed-use interior configuration; Three units in the building

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/?-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $453/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.8% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• At $2,736/mo this rent would consume 78% 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 $898 of loan paydown is wiped out by about $4k 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 $36k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1861 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,951 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1861 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.11% ✓
• Cap rate: 18.84%
• Cash-on-cash: 44.80%
• DSCR: 2.99
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $122,360
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1202 Clifton Ave	0.66mi	4/2.0	2,180 (-0%)	4mo	$124,900	$57	61
1202-1204 Clifton Ave	0.67mi	4/2.0	2,180 (-0%)	4mo	$124,900	$57	61
910 S Fountain Ave	0.42mi	4/—	2,462 (+13%)	11mo	$135,000	$55	50
712 W Jefferson St	0.68mi	4/2.0	2,288 (+5%)	12mo	$127,000	$56	47
714 W Jefferson St	0.68mi	4/2.0	2,288 (+5%)	12mo	$127,000	$56	47
910-910.5 S Fountain Ave	0.42mi	4/2.0	2,462 (+13%)	11mo	$135,000	$55	46
18-20 W Perrin Ave	0.71mi	4/2.0	2,064 (-6%)	13mo	$194,000	$94	43

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: 41.8%
• Equity multiple: 2.80×
• Total profit: $65,415
• Equity at exit: $19,369

10-year hold

• IRR: 48.0%
• Equity multiple: 5.63×
• Total profit: $168,253
• Equity at exit: $11,231

Cash invested: $36,372 (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: 11.9×

Monthly cashflow live

• Estimated rent: $2,736 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$68 /mo · $819/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$575
• Net cashflow: $1,358

Break-even live

Break-even rent $1,017

Max offer price $129,900

Occupancy floor 45%

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

Units	Beds	Baths	Est. rent
▸ 3× units	1	—	$2,736
Total (3 units)			$2,736

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
401 Section St Springfield, OH	4.0	2.0	1612	$1,850	$1.15	11d	1	0.46mi
220 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	23d	1	0.50mi
523 W Mulberry St Springfield, OH	4.0	2.0	1456	$1,825	$1.25	11d	1	0.50mi
302 S Yellow Springs St Springfield, OH	4.0	2.0	1456	$1,845	$1.27	11d	1	0.50mi
524 W Pleasant St Springfield, OH	4.0	2.0	1456	$1,645	$1.13	11d	1	0.51mi
356 S Yellow Springs St Springfield, OH	4.0	2.0	1606	$1,825	$1.14	11d	1	0.52mi
534 Homeview Ave Springfield, OH	3.0	1.0	2660	$1,200	$0.45	44d	1	0.53mi
18 E Grand Ave Springfield, OH	4.0	2.0	1452	$1,575	$1.08	19d	1	0.54mi
1306 S Limestone St Springfield, OH	4.0	2.0	1452	$1,695	$1.17	21d	1	0.73mi
545 W Grand Ave Springfield, OH	4.0	2.0	1456	$1,595	$1.10	3d	1	0.80mi
421 Catherine St Springfield, OH	3.0	2.0	1498	$1,500	$1.00	44d	1	0.95mi
830 Oak St Unit 830 Springfield, OH	4.0	1.5	1400	$1,250	$0.89	14d	1	1.11mi

Listing history 21 events

1. 2026-06-19
   days on market $129,900 Active 21 DOM
2. 2026-06-18
   days on market $129,900 Active 20 DOM
3. 2026-06-17
   days on market $129,900 Active 19 DOM
4. 2026-06-16
   days on market $129,900 Active 18 DOM
5. 2026-06-15
   days on market $129,900 Active 17 DOM
6. 2026-06-14
   days on market $129,900 Active 15 DOM
7. 2026-06-12
   pricedays on market $129,900 Active 14 DOM
8. 2026-06-09
   days on market $149,900 Active 11 DOM
9. 2026-06-08
   days on market $149,900 Active 10 DOM
10. 2026-06-07
    days on market $149,900 Active 9 DOM
11. 2026-06-05
    days on market $149,900 Active 6 DOM
12. 2026-06-02
    days on market $149,900 Active 4 DOM
13. 2026-06-01
    days on market $149,900 Active 3 DOM
14. 2026-05-31
    days on market $149,900 Active 2 DOM
15. 2026-05-29
    listed $149,900 Active

    Show marketing remark (941 chars)

    Investment opportunity in Springfield! This triplex at 7-11 W. Mulberry St. offers a great addition to any investor's portfolio. The property features three units, including two 1-bedroom units and one studio apartment. Recent improvements include fresh paint, new LVP flooring, updates to a bathroom and kitchen, and several newer windows. Unit 7 has recently been painted, and Unit 11 has received new flooring and interior updates. The currently occupied unit is expected to be vacant in early June, providing flexibility for an owner-occupant or investor. Whether you're looking to expand your rental portfolio or explore the opportunity to occupy one unit while generating income from the others, this property offers excellent potential. Conveniently located near downtown Springfield, shopping, dining, and major roadways. Property information and room counts are believed to be accurate but should be independently verified by buyers

16. 2026-05-29
    listed $149,900 Active 944-char remark

    Show marketing remark (941 chars)

    Investment opportunity in Springfield! This triplex at 7-11 W. Mulberry St. offers a great addition to any investor's portfolio. The property features three units, including two 1-bedroom units and one studio apartment. Recent improvements include fresh paint, new LVP flooring, updates to a bathroom and kitchen, and several newer windows. Unit 7 has recently been painted, and Unit 11 has received new flooring and interior updates. The currently occupied unit is expected to be vacant in early June, providing flexibility for an owner-occupant or investor. Whether you're looking to expand your rental portfolio or explore the opportunity to occupy one unit while generating income from the others, this property offers excellent potential. Conveniently located near downtown Springfield, shopping, dining, and major roadways. Property information and room counts are believed to be accurate but should be independently verified by buyers

17. 2026-05-29
    listed $149,900 Active 941-char remark

    Show marketing remark (941 chars)

    Investment opportunity in Springfield! This triplex at 7-11 W. Mulberry St. offers a great addition to any investor's portfolio. The property features three units, including two 1-bedroom units and one studio apartment. Recent improvements include fresh paint, new LVP flooring, updates to a bathroom and kitchen, and several newer windows. Unit 7 has recently been painted, and Unit 11 has received new flooring and interior updates. The currently occupied unit is expected to be vacant in early June, providing flexibility for an owner-occupant or investor. Whether you're looking to expand your rental portfolio or explore the opportunity to occupy one unit while generating income from the others, this property offers excellent potential. Conveniently located near downtown Springfield, shopping, dining, and major roadways. Property information and room counts are believed to be accurate but should be independently verified by buyers

18. 2025-08-14
    soldstatus $230,500
19. 2013-09-19
    soldstatus $62,000
20. 2001-07-27
    soldstatus $58,700
21. 1992-03-25
    soldstatus $25,000

ⓘ 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: $819 · $68/mo
• Projected year-2 tax: $1,423 · $119/mo
• Expected delta: +$604/yr (+$50/mo · 73.7%)

ⓘ 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 3/10 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: $32,832
• − Mortgage interest: −$7,276
• − Property taxes: −$819
• − Insurance: −$650
• − Repairs & maintenance: −$2,627
• − Management: −$2,627
• − Depreciation: −$3,779
• Taxable income: $15,055
• Est. tax owed @ 24.0%: −$3,613
• After-tax cash flow: $12,681/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 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

+499.6% since first listed

7 events — show timeline

• 2026-05-29 Listed $149,900 Dayton MLS
• 2026-05-29 Listed $149,900 WRIST
• 2026-05-29 Listed $149,900 CBRMLS
• 2025-08-14 Sold (Public Records) $230,500 Public Records
• 2013-09-19 Sold (Public Records) $62,000 Public Records
• 2001-07-27 Sold (Public Records) $58,700 Public Records
• 1992-03-25 Sold (Public Records) $25,000 Public Records

Property tax history

+0.5%/yr

Latest (2025): $819 · -9.5% YoY. Source: county tax records.