1214 Mound St · Springfield, OH 45505

$80,000

3 bd · 1.5 ba · 1,360 sqft · MultiFamily public records · 24 Days on market

Built 1847 7,840 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 (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Excellent investment opportunity! This large, brick home on Mound St. is currently set up as a 2-unit (up/down). 1360 SQ FT w/wood floors, basement & some updates present. Has a 26X32 garage. PRICED TO SELL! ***To set a showing or to Fax/Email an offer see contract information in Broker Remarks. Sold as is. Rely on your own inspections to verify property information provided in this listing. Allow 48-72 Business Hours for offer response (Excludes Weekends and Holidays).

Key facts

• 7,840 sq ft lot
• Garage
• Built 1847

Property features AI

Exterior

• Parking: 1-car garage
• Utilities: Public sewer
• Home design: Duplex; Single-family residence (property classified as Residential); Built in 1847
• Construction: Brick construction
• Exterior features: Residential lot; Lot approximately 50 x 165 (0.18 acres); Supplied water

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating
• Interior features: 3 total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $766 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.8% 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: 158 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $1,669/mo this rent would consume 46% of the median local household income ($44k/yr) (locally 950% 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 $553 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 $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $80k implies a 567% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1847 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,800 (1.5% below list)

Questions for the listing agent

1. Built in 1847 — 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 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: 2.09% ✓
• Cap rate: 17.79%
• Cash-on-cash: 41.06%
• DSCR: 2.83
• GRM: 4.0

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: 37.6%
• Equity multiple: 2.60×
• Total profit: $35,871
• Equity at exit: $11,928

10-year hold

• IRR: 44.2%
• Equity multiple: 5.20×
• Total profit: $94,187
• Equity at exit: $6,917

Cash invested: $22,400 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,669 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$99 /mo · $1,191/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $766

Break-even live

Break-even rent $699

Max offer price $80,000

Occupancy floor 49%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$861
1× unit	1	1	$808
Total (2 units)			$1,669

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 Ludlow Ave Springfield, OH	3.0	1.0	1000	$950	$0.95	44d	1	0.43mi
830 Oak St Unit 830 Springfield, OH	4.0	1.5	1400	$1,250	$0.89	14d	1	0.50mi
127 N Belmont Ave Unit 1 Springfield, OH	2.0	1.0	1052	$1,050	$1.00	2d	1	0.69mi
401 Section St Springfield, OH	4.0	2.0	1612	$1,850	$1.15	11d	1	0.72mi
421 Catherine St Springfield, OH	3.0	2.0	1498	$1,500	$1.00	44d	1	1.15mi
18 E Grand Ave Springfield, OH	4.0	2.0	1452	$1,575	$1.08	19d	1	1.17mi
1306 S Limestone St Springfield, OH	4.0	2.0	1452	$1,695	$1.17	21d	1	1.23mi
509 E Northern Ave Unit 511 Springfield, OH	3.0	1.0	995	$995	$1.00	2d	1	1.26mi
306 S Plum St Springfield, OH	4.0	2.0	1352	$1,700	$1.26	44d	1	1.42mi

Listing history 22 events

1. 2026-06-19
   days on market $80,000 Active 24 DOM
2. 2026-06-18
   days on market $80,000 Active 23 DOM
3. 2026-06-17
   days on market $80,000 Active 22 DOM
4. 2026-06-16
   days on market $80,000 Active 21 DOM
5. 2026-06-16
   price $80,000 Active 20 DOM
6. 2026-06-15
   days on market $85,000 Active 20 DOM
7. 2026-06-14
   days on market $85,000 Active 18 DOM
8. 2026-06-12
   days on market $85,000 Active 17 DOM
9. 2026-06-09
   days on market $85,000 Active 14 DOM
10. 2026-06-08
    days on market $85,000 Active 13 DOM
11. 2026-06-07
    days on market $85,000 Active 12 DOM
12. 2026-06-05
    days on market $85,000 Active 9 DOM
13. 2026-06-02
    days on market $85,000 Active 7 DOM
14. 2026-06-01
    days on market $85,000 Active 6 DOM
15. 2026-05-31
    days on market $85,000 Active 5 DOM
16. 2026-05-30
    days on market $85,000 Active 4 DOM
17. 2026-05-26
    listed $85,000 Active
18. 2010-11-01
    historical
19. 2010-10-21
    soldstatus $12,000 478-char remark

    Show marketing remark (478 chars)

    Excellent investment opportunity! This large, brick home on Mound St. is currently set up as a 2-unit (up/down). 1360 SQ FT w/wood floors, basement & some updates present. Has a 26X32 garage. PRICED TO SELL! ***To set a showing or to Fax/Email an offer see contract information in Broker Remarks. Sold as is. Rely on your own inspections to verify property information provided in this listing. Allow 48-72 Business Hours for offer response (Excludes Weekends and Holidays).

20. 2010-09-03
    listed $14,900 478-char remark

    Show marketing remark (478 chars)

    Excellent investment opportunity! This large, brick home on Mound St. is currently set up as a 2-unit (up/down). 1360 SQ FT w/wood floors, basement & some updates present. Has a 26X32 garage. PRICED TO SELL! ***To set a showing or to Fax/Email an offer see contract information in Broker Remarks. Sold as is. Rely on your own inspections to verify property information provided in this listing. Allow 48-72 Business Hours for offer response (Excludes Weekends and Holidays).

21. 2010-09-01
    listed $14,900
22. 1994-05-19
    soldstatus $32,500

ⓘ 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: $1,191 · $99/mo
• Projected year-2 tax: $1,220 · $102/mo
• Expected delta: +$28/yr (+$2/mo · 2.4%)

ⓘ 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: $20,028
• − Mortgage interest: −$4,481
• − Property taxes: −$1,191
• − Insurance: −$400
• − Repairs & maintenance: −$1,602
• − Management: −$1,602
• − Depreciation: −$2,327
• Taxable income: $8,424
• Est. tax owed @ 24.0%: −$2,022
• After-tax cash flow: $7,175/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

+161.5% since first listed

6 events — show timeline

• 2026-05-26 Listed $85,000 WRIST
• 2010-11-01 Listing Removed — WRIST
• 2010-10-21 Sold (MLS) $12,000 WRIST
• 2010-09-03 Listed $14,900 WRIST
• 2010-09-01 Listed $14,900 WRIST
• 1994-05-19 Sold (Public Records) $32,500 Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,191 · +35.1% YoY. Source: county tax records.