1721 Prospect St · Springfield, OH 45503

$85,000

2 bd · 1.0 ba · 1,374 sqft · SingleFamily public records · 171 Days on market

Built 1913 5,662 sqft lot Est $169k · 50% under

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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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +7.1/10.0
• 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

Don't let this renovated 3 bed/1 bath property pass you by. This home is is complete with brand new carpets, countertops, lighting, fenced in backyard and finishes throughout. Located near the heart of Springfield, with Wittenberg University, Clark State, and convenient shopping nearby.

Key facts

• Fenced yard
• Updated bathroom
• 5,662 sq ft lot

Tags

• UPDATED BATHROOM
• FENCED YARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $75k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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: 142 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $588 of loan paydown is wiped out by about $3k 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 $24k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 16y ago; this cycle's ask has dropped $25k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $74,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 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 1913 — 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: 1.21% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.32%
• DSCR: 1.50
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $169,002
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
718 N Florence St	0.30mi	2/1.5	1,368 (-0%)	6mo	$119,900	$88	78
107 N Clairmont Ave	0.37mi	3/1.0 (+1)	1,344 (-2%)	1mo	$170,000	$126	73
1703 Highland Ave	0.20mi	3/1.0 (+1)	1,273 (-7%)	3mo	$48,000	$38	71
1810 Summit St	0.10mi	2/2.0	1,188 (-14%)	4mo	$119,000	$100	66
105 N Clairmont Ave	0.38mi	3/2.0 (+1)	1,344 (-2%)	5mo	$190,000	$141	65
1661 Prospect St	0.06mi	3/2.0 (+1)	1,548 (+13%)	3mo	$185,000	$120	65
320 N Clairmont Ave	0.36mi	3/1.5 (+1)	1,307 (-5%)	5mo	$157,000	$120	64
801 Bellevue Ave	0.59mi	3/1.0 (+1)	1,344 (-2%)	1mo	$169,900	$126	63
273 S Clairmont Ave	0.60mi	3/1.0 (+1)	1,440 (+5%)	3mo	$198,000	$138	56
248 S Hubert Ave	0.47mi	3/1.0 (+1)	1,504 (+10%)	1mo	$65,000	$43	56
314 Raffensperger Ave	0.72mi	3/2.0 (+1)	1,352 (-2%)	1mo	$170,000	$126	54
2020 Woodside Ave	0.34mi	3/2.0 (+1)	1,176 (-14%)	2mo	$145,000	$123	50

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $544
• Equity at exit: $12,674

10-year hold

• IRR: 10.3%
• Equity multiple: 1.80×
• Total profit: $18,952
• Equity at exit: $7,349

Cash invested: $23,800 (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: 142
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,026 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$105 /mo · $1,261/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $225

Break-even live

Break-even rent $742

Max offer price $85,000

Occupancy floor 73%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
127 N Belmont Ave Unit 1 Springfield, OH	2.0	1.0	1052	$1,050	$1.00	1d	1	0.19mi
515 Ludlow Ave Springfield, OH	3.0	1.0	1000	$950	$0.95	43d	1	0.75mi
509 E Northern Ave Unit 511 Springfield, OH	3.0	1.0	995	$995	$1.00	1d	1	1.19mi

Listing history 26 events

1. 2026-03-29
   status Pending
2. 2026-01-26
   price $85,000
3. 2025-11-27
   price $100,000
4. 2025-10-30
   price $105,000
5. 2025-10-20
   price $108,000
6. 2025-10-08
   listed $110,000 Active
7. 2022-03-21
   soldstatus $102,000
8. 2022-03-14
   soldstatus $102,000 Closed 287-char remark

   Show marketing remark (287 chars)

   Don't let this renovated 3 bed/1 bath property pass you by. This home is is complete with brand new carpets, countertops, lighting, fenced in backyard and finishes throughout. Located near the heart of Springfield, with Wittenberg University, Clark State, and convenient shopping nearby.

9. 2022-03-14
   soldstatus $102,000 Sold 287-char remark

   Show marketing remark (287 chars)

   Don't let this renovated 3 bed/1 bath property pass you by. This home is is complete with brand new carpets, countertops, lighting, fenced in backyard and finishes throughout. Located near the heart of Springfield, with Wittenberg University, Clark State, and convenient shopping nearby.

10. 2022-02-07
    historical Active/Pending 287-char remark

    Show marketing remark (287 chars)

    Don't let this renovated 3 bed/1 bath property pass you by. This home is is complete with brand new carpets, countertops, lighting, fenced in backyard and finishes throughout. Located near the heart of Springfield, with Wittenberg University, Clark State, and convenient shopping nearby.

11. 2022-02-01
    price $98,000 287-char remark

    Show marketing remark (287 chars)

    Don't let this renovated 3 bed/1 bath property pass you by. This home is is complete with brand new carpets, countertops, lighting, fenced in backyard and finishes throughout. Located near the heart of Springfield, with Wittenberg University, Clark State, and convenient shopping nearby.

12. 2022-01-25
    status Active 287-char remark

    Show marketing remark (287 chars)

    Don't let this renovated 3 bed/1 bath property pass you by. This home is is complete with brand new carpets, countertops, lighting, fenced in backyard and finishes throughout. Located near the heart of Springfield, with Wittenberg University, Clark State, and convenient shopping nearby.

13. 2022-01-10
    historical Active/Pending 287-char remark

    Show marketing remark (287 chars)

    Don't let this renovated 3 bed/1 bath property pass you by. This home is is complete with brand new carpets, countertops, lighting, fenced in backyard and finishes throughout. Located near the heart of Springfield, with Wittenberg University, Clark State, and convenient shopping nearby.

14. 2021-12-31
    price $99,900 287-char remark

    Show marketing remark (287 chars)

    Don't let this renovated 3 bed/1 bath property pass you by. This home is is complete with brand new carpets, countertops, lighting, fenced in backyard and finishes throughout. Located near the heart of Springfield, with Wittenberg University, Clark State, and convenient shopping nearby.

15. 2021-12-18
    listed $104,900 Active 287-char remark

    Show marketing remark (287 chars)

    Don't let this renovated 3 bed/1 bath property pass you by. This home is is complete with brand new carpets, countertops, lighting, fenced in backyard and finishes throughout. Located near the heart of Springfield, with Wittenberg University, Clark State, and convenient shopping nearby.

16. 2021-10-04
    soldstatus $36,250 Closed 258-char remark

    Show marketing remark (258 chars)

    Great Price on this affordable 3 bed, 1 bath home with many updates. Updated electric panel, gas furnace, central air conditioning, and vinyl windows. Roof is also newer. Just needs some cosmetic work. Would be a great first home or investment property.

17. 2021-09-18
    status Pending 258-char remark

    Show marketing remark (258 chars)

    Great Price on this affordable 3 bed, 1 bath home with many updates. Updated electric panel, gas furnace, central air conditioning, and vinyl windows. Roof is also newer. Just needs some cosmetic work. Would be a great first home or investment property.

18. 2021-09-03
    listed $42,000 Active 258-char remark

    Show marketing remark (258 chars)

    Great Price on this affordable 3 bed, 1 bath home with many updates. Updated electric panel, gas furnace, central air conditioning, and vinyl windows. Roof is also newer. Just needs some cosmetic work. Would be a great first home or investment property.

19. 2018-02-24
    historical
20. 2018-02-23
    historical
21. 2017-08-24
    listed $49,900
22. 2017-08-23
    listed $49,900
23. 2010-09-28
    soldstatus $7,200
24. 2010-08-20
    listed $8,900
25. 2004-07-07
    soldstatus $75,000
26. 1998-04-20
    soldstatus $62,900

ⓘ 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: $1,261 · $105/mo
• Projected year-2 tax: $1,294 · $108/mo
• Expected delta: +$32/yr (+$3/mo · 2.6%)

ⓘ 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: $12,317
• − Mortgage interest: −$4,761
• − Property taxes: −$1,261
• − Insurance: −$425
• − Repairs & maintenance: −$985
• − Management: −$985
• − Depreciation: −$2,473
• Taxable income: $1,426
• Est. tax owed @ 24.0%: −$342
• After-tax cash flow: $2,353/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

+35.1% since first listed

26 events — show timeline

• 2026-03-29 Pending — WRIST
• 2026-01-26 Price Changed $85,000 WRIST
• 2025-11-27 Price Changed $100,000 WRIST
• 2025-10-30 Price Changed $105,000 WRIST
• 2025-10-20 Price Changed $108,000 WRIST
• 2025-10-08 Listed $110,000 WRIST
• 2022-03-21 Sold (Public Records) $102,000 Public Records
• 2022-03-14 Sold (MLS) $102,000 Dayton MLS
• 2022-03-14 Sold (MLS) $102,000 Dayton MLS
• 2022-02-07 Contingent — Dayton MLS
• 2022-02-01 Price Changed $98,000 Dayton MLS
• 2022-01-25 Relisted — Dayton MLS
• 2022-01-10 Contingent — Dayton MLS
• 2021-12-31 Price Changed $99,900 Dayton MLS
• 2021-12-18 Listed $104,900 Dayton MLS
• 2021-10-04 Sold (MLS) $36,250 WRIST
• 2021-09-18 Pending — WRIST
• 2021-09-03 Listed $42,000 WRIST
• 2018-02-24 Listing Removed — CBRMLS
• 2018-02-23 Listing Removed — WRIST
• 2017-08-24 Listed $49,900 CBRMLS
• 2017-08-23 Listed $49,900 WRIST
• 2010-09-28 Sold (MLS) $7,200 WRIST
• 2010-08-20 Listed $8,900 WRIST
• 2004-07-07 Sold (Public Records) $75,000 Public Records
• 1998-04-20 Sold (Public Records) $62,900 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,261 · +24.6% YoY. Source: county tax records.