705 York St · Springfield, OH 45505

$63,000

2 bd · 1.0 ba · 1,249 sqft · SingleFamily public records · 588 Days on market

Built 1886 10,018 sqft lot $50/sqft · 36% above area Est $46k · 36% 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

Listing remarks MLS

Discover the potential in this charming Southeast Springfield property, an ideal investment or opportunity to re-imagine the dream of home ownership. Nestled in a vibrant & established neighborhood, this home offers walkability to the heart of downtown, where you can enjoy the city's revitalized energy, local events, shopping, and dining. With schools and essentials close by, this location blends convenience with community. While the property is tenant-occupied and in need of some TLC, it presents a unique canvas for transformation. Perfect for investors or homeowners looking to bring their vision to life in a growing area!

Key facts

• 0.23 acre lot
• Built 1886
• Listed 587 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $63k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.1% 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: 158 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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).
• This rent runs 30% of the median local income ($44k/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 $436 of loan paydown is wiped out by about $2k 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 $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 588 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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 $63k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 588 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1886 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.74% ✓
• Cap rate: 15.05%
• Cash-on-cash: 31.29%
• DSCR: 2.39
• GRM: 4.8

CMA / ARV

• ARV (median comp): $46,492
• List price: $63,000
• Delta: 35.51%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
513 Homeview Ave	0.18mi	2/1.0	1,272 (+2%)	7mo	$38,000	$30	82
920 Elder St	0.34mi	2/1.0	1,184 (-5%)	3mo	$42,500	$36	73
1024 Elder St	0.33mi	3/2.0 (+1)	1,242 (-1%)	4mo	$33,334	$27	71
230 Rice St	0.53mi	2/1.0	1,208 (-3%)	2mo	$40,000	$33	68
908 Pine St	0.51mi	2/2.0	1,180 (-6%)	2mo	$68,000	$58	62
650 E Southern Ave	0.36mi	3/1.0 (+1)	1,144 (-8%)	4mo	$72,500	$63	61
638 Clifton Ave	0.37mi	2/1.5	1,080 (-14%)	3mo	$160,000	$148	56
634 Clifton Ave	0.37mi	2/1.5	1,080 (-14%)	6mo	$160,000	$148	53
644 Clifton Ave	0.37mi	3/2.0 (+1)	1,420 (+14%)	7mo	$165,000	$116	45
1005 Burt St	0.71mi	2/1.0	1,085 (-13%)	1mo	$127,000	$117	44
1417 Kenton St	0.61mi	3/2.0 (+1)	1,384 (+11%)	1mo	$70,000	$51	43
1213 Gable St	0.66mi	3/2.0 (+1)	1,430 (+14%)	3mo	$189,900	$133	34

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: 26.1%
• Equity multiple: 2.08×
• Total profit: $19,081
• Equity at exit: $9,394

10-year hold

• IRR: 33.8%
• Equity multiple: 4.08×
• Total profit: $54,328
• Equity at exit: $5,447

Cash invested: $17,640 (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 45505

• Home prices YoY: -34.3%
• Active inventory: 158
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,097 high
• Mortgage (P&I): −$330
• Tax from tax record: −$50 /mo · $600/yr
• Insurance: −$26
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $460

Break-even live

Break-even rent $515

Max offer price $63,000

Occupancy floor 53%

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: $15,750
• Closing costs: $1,890
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 E Rose St Springfield, OH	3.0	1.0	828	$1,200	$1.45	23d	1	0.56mi
421 Catherine St Springfield, OH	3.0	2.0	1498	$1,500	$1.00	44d	1	0.60mi
515 Ludlow Ave Springfield, OH	3.0	1.0	1000	$950	$0.95	44d	1	0.82mi
1452 S Wittenberg Ave Springfield, OH	2.0	1.0	937	$1,010	$1.08	2d	1	0.96mi
127 N Belmont Ave Unit 1 Springfield, OH	2.0	1.0	1052	$1,050	$1.00	2d	1	1.28mi
147 S Shaffer St Springfield, OH	1.0	1.0	900	$875	$0.97	19d	1	1.44mi
509 E Northern Ave Unit 511 Springfield, OH	3.0	1.0	995	$995	$1.00	2d	1	1.49mi

Listing history 21 events

1. 2026-06-19
   days on market $63,000 Active 588 DOM
2. 2026-06-18
   days on market $63,000 Active 587 DOM
3. 2026-06-17
   days on market $63,000 Active 586 DOM
4. 2026-06-16
   days on market $63,000 Active 585 DOM
5. 2026-06-15
   days on market $63,000 Active 584 DOM
6. 2026-06-14
   days on market $63,000 Active 582 DOM
7. 2026-06-12
   days on market $63,000 Active 581 DOM
8. 2026-06-09
   days on market $63,000 Active 578 DOM
9. 2026-06-08
   days on market $63,000 Active 577 DOM
10. 2026-06-07
    days on market $63,000 Active 576 DOM
11. 2026-06-05
    days on market $63,000 Active 573 DOM
12. 2026-06-02
    days on market $63,000 Active 571 DOM
13. 2026-06-01
    days on market $63,000 Active 570 DOM
14. 2026-05-31
    days on market $63,000 Active 569 DOM
15. 2026-05-30
    days on market $63,000 Active 568 DOM
16. 2025-02-24
    price $63,000 643-char remark

    Show marketing remark (643 chars)

    Discover the potential in this charming Southeast Springfield property, an ideal investment or opportunity to re-imagine the dream of home ownership. Nestled in a vibrant & established neighborhood, this home offers walkability to the heart of downtown, where you can enjoy the city's revitalized energy, local events, shopping, and dining. With schools and essentials close by, this location blends convenience with community. While the property is tenant-occupied and in need of some TLC, it presents a unique canvas for transformation. Perfect for investors or homeowners looking to bring their vision to life in a growing area!

17. 2024-11-09
    status Active 643-char remark

    Show marketing remark (643 chars)

    Discover the potential in this charming Southeast Springfield property, an ideal investment or opportunity to re-imagine the dream of home ownership. Nestled in a vibrant & established neighborhood, this home offers walkability to the heart of downtown, where you can enjoy the city's revitalized energy, local events, shopping, and dining. With schools and essentials close by, this location blends convenience with community. While the property is tenant-occupied and in need of some TLC, it presents a unique canvas for transformation. Perfect for investors or homeowners looking to bring their vision to life in a growing area!

18. 2024-10-29
    status Pending 643-char remark

    Show marketing remark (643 chars)

    Discover the potential in this charming Southeast Springfield property, an ideal investment or opportunity to re-imagine the dream of home ownership. Nestled in a vibrant & established neighborhood, this home offers walkability to the heart of downtown, where you can enjoy the city's revitalized energy, local events, shopping, and dining. With schools and essentials close by, this location blends convenience with community. While the property is tenant-occupied and in need of some TLC, it presents a unique canvas for transformation. Perfect for investors or homeowners looking to bring their vision to life in a growing area!

19. 2024-10-28
    listed $65,000 Active 643-char remark

    Show marketing remark (643 chars)

    Discover the potential in this charming Southeast Springfield property, an ideal investment or opportunity to re-imagine the dream of home ownership. Nestled in a vibrant & established neighborhood, this home offers walkability to the heart of downtown, where you can enjoy the city's revitalized energy, local events, shopping, and dining. With schools and essentials close by, this location blends convenience with community. While the property is tenant-occupied and in need of some TLC, it presents a unique canvas for transformation. Perfect for investors or homeowners looking to bring their vision to life in a growing area!

20. 2021-06-09
    soldstatus $32,000
21. 2021-05-28
    listed $35,000

ⓘ 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: $600 · $50/mo
• Projected year-2 tax: $791 · $66/mo
• Expected delta: +$191/yr (+$16/mo · 31.9%)

ⓘ 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: $13,162
• − Mortgage interest: −$3,529
• − Property taxes: −$600
• − Insurance: −$315
• − Repairs & maintenance: −$1,053
• − Management: −$1,053
• − Depreciation: −$1,833
• Taxable income: $4,780
• Est. tax owed @ 24.0%: −$1,147
• After-tax cash flow: $4,372/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): 19,826
• Household income: $43,819
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 950.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Black 14% Two or more races 7% Hispanic / Latino 4%
• Common ancestry: Slovak 1% German 1% Iranian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% French/Haitian/Cajun 1% German/W. Germanic 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: ▼ -135.16%
• Current HPI: 258.9037
• 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

+80.0% since first listed

6 events — show timeline

• 2025-02-24 Price Changed $63,000 WRIST
• 2024-11-09 Relisted — WRIST
• 2024-10-29 Pending — WRIST
• 2024-10-28 Listed $65,000 WRIST
• 2021-06-09 Sold (MLS) $32,000 WRIST
• 2021-05-28 Listed $35,000 WRIST

Property tax history

+5.5%/yr

Latest (2025): $600 · +64.6% YoY. Source: county tax records.