204 W Johnny Lytle Ave · Springfield, OH 45506

$144,900

16 bd · 16.0 ba · 5,222 sqft · MultiFamily · 25 Days on market

Built 1919 6,336 sqft lot

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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
• 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 (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Calling all investors! Don't miss this excellent cash-flowing opportunity in Springfield. This fully- occupied 4-plex is the perfect addition to your portfolio, featuring four 1-bedroom, 1-bathroom units that provide steady rental income. Additionally, the property includes a detached garage, offering potential for extra rental income. With tenants already in place, this property is primed and ready for a savvy investor. Secure your next investment today!

Key facts

• 6,336 sq ft lot
• Garage
• Built 1919

Property features AI

Finance

• Financial info: Offered for sale; Reported gross income: $30,000; Monthly lease amount listed as $700

Exterior

• Parking: One-car garage plus on-street parking
• Home design: Two-story building; Single building with multiple units
• Construction: Vinyl siding
• Exterior features: 48 x 132 lot; Approximately 0.1455-acre lot; Zoned commercial

Interior

• Bedrooms: One-bedroom units (4 total units)
• Bathrooms: Four full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement
• Laundry & utility: Tenants pay electricity

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $499/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for market timing.
• Cap rate 23.4% 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 $4,056/mo this rent would consume 116% 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 $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 $41k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $57k; list at $145k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; flood insurance adds $66/mo; built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,726 (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 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 2.80% ✓
• Cap rate: 23.36%
• Cash-on-cash: 60.97%
• DSCR: 3.71
• GRM: 3.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 57.7%
• Equity multiple: 3.56×
• Total profit: $103,767
• Equity at exit: $21,605

10-year hold

• IRR: 62.6%
• Equity multiple: 7.28×
• Total profit: $254,733
• Equity at exit: $12,528

Cash invested: $40,572 (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 45506

• Home prices YoY: -14.1%
• Active inventory: 45
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $4,056 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$323 /mo · $3,871/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$852
• Net cashflow: $1,995

Break-even live

Break-even rent $1,531

Max offer price $144,900

Occupancy floor 46%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,056
Total (4 units)			$4,056

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $144,900 Active 25 DOM
2. 2026-06-18
   days on market $144,900 Active 24 DOM
3. 2026-06-17
   price $144,900 Active 23 DOM
4. 2026-06-17
   days on market $149,900 Active 23 DOM
5. 2026-06-16
   days on market $149,900 Active 22 DOM
6. 2026-06-15
   days on market $149,900 Active 21 DOM
7. 2026-06-14
   days on market $149,900 Active 19 DOM
8. 2026-06-12
   days on market $149,900 Active 18 DOM
9. 2026-06-09
   days on market $149,900 Active 15 DOM
10. 2026-06-08
    days on market $149,900 Active 14 DOM
11. 2026-06-07
    days on market $149,900 Active 13 DOM
12. 2026-06-05
    days on market $149,900 Active 10 DOM
13. 2026-06-02
    days on market $149,900 Active 8 DOM
14. 2026-06-01
    days on market $149,900 Active 7 DOM
15. 2026-05-31
    days on market $149,900 Active 6 DOM
16. 2026-05-30
    days on market $149,900 Active 5 DOM
17. 2026-05-25
    listed $149,900 Active
18. 2024-10-03
    status Active
19. 2024-09-25
    status Pending
20. 2024-09-25
    historical
21. 2024-09-11
    listed $149,900 Active
22. 2021-09-14
    soldstatus $57,000

ⓘ 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: $3,871 · $323/mo
• Projected year-2 tax: $3,871 · $323/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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: $48,672
• − Mortgage interest: −$8,117
• − Property taxes: −$3,871
• − Insurance: −$1,522
• − Repairs & maintenance: −$3,894
• − Management: −$3,894
• − Depreciation: −$4,215
• Taxable income: $23,159
• Est. tax owed @ 24.0%: −$5,558
• After-tax cash flow: $18,381/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

+163.0% since first listed

6 events — show timeline

• 2026-05-25 Listed $149,900 Dayton MLS
• 2024-10-03 Relisted — WRIST
• 2024-09-25 Pending — WRIST
• 2024-09-25 Listing Removed — WRIST
• 2024-09-11 Listed $149,900 WRIST
• 2021-09-14 Sold (Public Records) $57,000 Public Records

Property tax history

+7.4%/yr

Latest (2025): $3,871 · -56.0% YoY. Source: county tax records.