1223 Lagonda Ave · Springfield, OH 45503

$119,900

2 bd · 1.5 ba · 2,373 sqft · SingleFamily public records · 25 Days on market

Built 1920 2,829 sqft lot $51/sqft · 5% below area Est $127k · 5% under ↓ 24% since listing

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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 +21.8/30.0
• ARV discount +10.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.0/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Value-add opportunity with multiple income possibilities on this two-parcel property located at the corner of Lagonda and Farlow. Included in the sale is an additional parcel at 0 Farlow currently used for off-street parking. The upper unit is leased to a long-term tenant at $600 per month, providing immediate income. The main level offers significant upside and flexibility. Currently configured with a front office area and a one-bedroom apartment, the layout can be easily reimagined due to minimal interior structural constraints. The main level presents several options for the next owner: • Convert to a larger single unit with expanded living space • Reconfigure into a 2-3 bedroom unit • Explore the potential to create multiple rental units (buyer to verify zoning and use) Previously operated as a neighborhood pub, the space offers an open footprint that is difficult to find in similar properties, making it ideal for redevelopment or repositioning. Additional improvements include updated electric panels, replacement windows, siding, and a complete tear-off roof in 2004. Gas is currently on one meter, with owner covering gas, water, sewer, and trash. With an existing tenant, additional parcel for parking, and a highly flexible main level ready for improvement, this property offers a strong opportunity for an investor to increase value and maximize returns.

Key facts

• Off street parking
• Additional parcel
• Replacement windows

Tags

• THREE UNIT INVESTMENT PROPERTY
• OFF STREET PARKING
• ADDITIONAL PARCEL
• THREE SEPARATE ENTRANCES
• REPLACEMENT WINDOWS
• UPDATED ELECTRIC PANELS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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: 144 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 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.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,101 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.00% ✓
• Cap rate: 8.16%
• Cash-on-cash: 6.66%
• DSCR: 1.30
• GRM: 8.3

CMA / ARV

• ARV (median comp): $126,810
• List price: $119,900
• Delta: -5.45%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1417 E High St	0.65mi	3/1.5 (+1)	2,325 (-2%)	12mo	$105,000	$45	52
116 Lincoln Ave	0.63mi	3/2.0 (+1)	2,206 (-7%)	22mo	$75,000	$34	33

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: -6.1%
• Equity multiple: 0.77×
• Total profit: $-7,586
• Equity at exit: $17,877

10-year hold

• IRR: 3.5%
• Equity multiple: 1.26×
• Total profit: $8,580
• Equity at exit: $10,367

Cash invested: $33,572 (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 45503

• Active inventory: 144
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$83 /mo · $996/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $186

Break-even live

Break-even rent $964

Max offer price $119,900

Occupancy floor 79%

Sensitivity live

Price	-10% $254	-5% $220	+0% $186	+5% $152	+10% $118
Rent	-10% $92	-5% $139	+0% $186	+5% $234	+10% $281
Rate	-1.0pp $247	-0.5pp $217	base $186	+0.5pp $155	+1.0pp $124

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
534 Homeview Ave Springfield, OH	3.0	1.0	2660	$1,200	$0.45	44d	1	1.11mi

Listing history 20 events

1. 2026-06-19
   days on market $119,900 Active 25 DOM
2. 2026-06-18
   days on market $119,900 Active 24 DOM
3. 2026-06-17
   days on market $119,900 Active 23 DOM
4. 2026-06-16
   days on market $119,900 Active 22 DOM
5. 2026-06-15
   days on market $119,900 Active 21 DOM
6. 2026-06-14
   days on market $119,900 Active 19 DOM
7. 2026-06-12
   days on market $119,900 Active 18 DOM
8. 2026-06-09
   days on market $119,900 Active 15 DOM
9. 2026-06-08
   days on market $119,900 Active 14 DOM
10. 2026-06-07
    days on market $119,900 Active 13 DOM
11. 2026-06-05
    days on market $119,900 Active 10 DOM
12. 2026-06-02
    days on market $119,900 Active 8 DOM
13. 2026-06-01
    days on market $119,900 Active 7 DOM
14. 2026-05-31
    days on market $119,900 Active 6 DOM
15. 2026-05-30
    days on market $119,900 Active 5 DOM
16. 2026-05-06
    price $119,900 1401-char remark

    Show marketing remark (1401 chars)

    Value-add opportunity with multiple income possibilities on this two-parcel property located at the corner of Lagonda and Farlow. Included in the sale is an additional parcel at 0 Farlow currently used for off-street parking. The upper unit is leased to a long-term tenant at $600 per month, providing immediate income. The main level offers significant upside and flexibility. Currently configured with a front office area and a one-bedroom apartment, the layout can be easily reimagined due to minimal interior structural constraints. The main level presents several options for the next owner: • Convert to a larger single unit with expanded living space • Reconfigure into a 2-3 bedroom unit • Explore the potential to create multiple rental units (buyer to verify zoning and use) Previously operated as a neighborhood pub, the space offers an open footprint that is difficult to find in similar properties, making it ideal for redevelopment or repositioning. Additional improvements include updated electric panels, replacement windows, siding, and a complete tear-off roof in 2004. Gas is currently on one meter, with owner covering gas, water, sewer, and trash. With an existing tenant, additional parcel for parking, and a highly flexible main level ready for improvement, this property offers a strong opportunity for an investor to increase value and maximize returns.

17. 2026-04-16
    price $129,900 1401-char remark

    Show marketing remark (1401 chars)

    Value-add opportunity with multiple income possibilities on this two-parcel property located at the corner of Lagonda and Farlow. Included in the sale is an additional parcel at 0 Farlow currently used for off-street parking. The upper unit is leased to a long-term tenant at $600 per month, providing immediate income. The main level offers significant upside and flexibility. Currently configured with a front office area and a one-bedroom apartment, the layout can be easily reimagined due to minimal interior structural constraints. The main level presents several options for the next owner: • Convert to a larger single unit with expanded living space • Reconfigure into a 2-3 bedroom unit • Explore the potential to create multiple rental units (buyer to verify zoning and use) Previously operated as a neighborhood pub, the space offers an open footprint that is difficult to find in similar properties, making it ideal for redevelopment or repositioning. Additional improvements include updated electric panels, replacement windows, siding, and a complete tear-off roof in 2004. Gas is currently on one meter, with owner covering gas, water, sewer, and trash. With an existing tenant, additional parcel for parking, and a highly flexible main level ready for improvement, this property offers a strong opportunity for an investor to increase value and maximize returns.

18. 2026-03-16
    price $139,900 1401-char remark

    Show marketing remark (1401 chars)

    Value-add opportunity with multiple income possibilities on this two-parcel property located at the corner of Lagonda and Farlow. Included in the sale is an additional parcel at 0 Farlow currently used for off-street parking. The upper unit is leased to a long-term tenant at $600 per month, providing immediate income. The main level offers significant upside and flexibility. Currently configured with a front office area and a one-bedroom apartment, the layout can be easily reimagined due to minimal interior structural constraints. The main level presents several options for the next owner: • Convert to a larger single unit with expanded living space • Reconfigure into a 2-3 bedroom unit • Explore the potential to create multiple rental units (buyer to verify zoning and use) Previously operated as a neighborhood pub, the space offers an open footprint that is difficult to find in similar properties, making it ideal for redevelopment or repositioning. Additional improvements include updated electric panels, replacement windows, siding, and a complete tear-off roof in 2004. Gas is currently on one meter, with owner covering gas, water, sewer, and trash. With an existing tenant, additional parcel for parking, and a highly flexible main level ready for improvement, this property offers a strong opportunity for an investor to increase value and maximize returns.

19. 2026-03-03
    price $149,000 1401-char remark

    Show marketing remark (1401 chars)

    Value-add opportunity with multiple income possibilities on this two-parcel property located at the corner of Lagonda and Farlow. Included in the sale is an additional parcel at 0 Farlow currently used for off-street parking. The upper unit is leased to a long-term tenant at $600 per month, providing immediate income. The main level offers significant upside and flexibility. Currently configured with a front office area and a one-bedroom apartment, the layout can be easily reimagined due to minimal interior structural constraints. The main level presents several options for the next owner: • Convert to a larger single unit with expanded living space • Reconfigure into a 2-3 bedroom unit • Explore the potential to create multiple rental units (buyer to verify zoning and use) Previously operated as a neighborhood pub, the space offers an open footprint that is difficult to find in similar properties, making it ideal for redevelopment or repositioning. Additional improvements include updated electric panels, replacement windows, siding, and a complete tear-off roof in 2004. Gas is currently on one meter, with owner covering gas, water, sewer, and trash. With an existing tenant, additional parcel for parking, and a highly flexible main level ready for improvement, this property offers a strong opportunity for an investor to increase value and maximize returns.

20. 2026-02-14
    listed $157,500 Active 1401-char remark

    Show marketing remark (1401 chars)

    Value-add opportunity with multiple income possibilities on this two-parcel property located at the corner of Lagonda and Farlow. Included in the sale is an additional parcel at 0 Farlow currently used for off-street parking. The upper unit is leased to a long-term tenant at $600 per month, providing immediate income. The main level offers significant upside and flexibility. Currently configured with a front office area and a one-bedroom apartment, the layout can be easily reimagined due to minimal interior structural constraints. The main level presents several options for the next owner: • Convert to a larger single unit with expanded living space • Reconfigure into a 2-3 bedroom unit • Explore the potential to create multiple rental units (buyer to verify zoning and use) Previously operated as a neighborhood pub, the space offers an open footprint that is difficult to find in similar properties, making it ideal for redevelopment or repositioning. Additional improvements include updated electric panels, replacement windows, siding, and a complete tear-off roof in 2004. Gas is currently on one meter, with owner covering gas, water, sewer, and trash. With an existing tenant, additional parcel for parking, and a highly flexible main level ready for improvement, this property offers a strong opportunity for an investor to increase value and maximize returns.

ⓘ 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: $996 · $83/mo
• Projected year-2 tax: $1,433 · $119/mo
• Expected delta: +$437/yr (+$36/mo · 43.9%)

ⓘ 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: $14,400
• − Mortgage interest: −$6,716
• − Property taxes: −$996
• − Insurance: −$600
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$3,488
• Taxable income: $297
• Est. tax owed @ 24.0%: −$71
• After-tax cash flow: $2,164/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): 32,673
• Household income: $54,561
• Rent vs Own: 40.1% rent · 59.9% own
• Severe rent burden: 4.7

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 (84%)
• Race & ethnicity: White 84% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 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: ▼ -211.92%
• Current HPI: 257.5694
• 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

-23.9% since first listed

5 events — show timeline

• 2026-05-06 Price Changed $119,900 WRIST
• 2026-04-16 Price Changed $129,900 WRIST
• 2026-03-16 Price Changed $139,900 WRIST
• 2026-03-03 Price Changed $149,000 WRIST
• 2026-02-14 Listed $157,500 WRIST

Property tax history

-0.5%/yr

Latest (2025): $996 · +18.4% YoY. Source: county tax records.