337 Fair St · Springfield, OH 45506

$80,000

4 bd · 2.0 ba · 2,296 sqft · MultiFamily public records · 3 Days on market

Built 1881 3,484 sqft lot Est $129k · 38% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 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
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Great investment property opportunity! This duplex features one unit currently tenant-occupied, providing immediate rental income, while the other unit is vacant and ready for your next tenant or owner-occupant. With light cosmetic updates needed, there's excellent potential to increase value and maximize returns. Perfect for house hacking or expanding your portfolio.

Key facts

• 3,484 sq ft lot
• Built 1881
• Listed 3 days

Property features AI

Exterior

• Utilities: Public sewer; Supplied water
• Home design: Built in 1881
• Construction: Vinyl siding construction
• Exterior features: Duplex (2-unit property); Vinyl siding

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Baseboard heating; Has heating
• Interior features: Full basement

🏷️ Possibly a rental listed for sale. The $80,000 price doesn't fit this home's estimated sale value (~$128,576) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $652/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Cap rate 25.9% vs local median 4.7% 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 232 units permitted in Clark County in 2024 (116 in 5+ unit buildings).
• At $2,351/mo this rent would consume 67% 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 $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 ~2 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1881 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,000

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 1881 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 2.94% ✓
• Cap rate: 25.86%
• Cash-on-cash: 69.88%
• DSCR: 4.11
• GRM: 2.8

CMA / ARV

• ARV (on-the-fly): $128,576
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
712 W Jefferson St	0.45mi	4/2.0	2,288 (-0%)	12mo	$127,000	$56	68
714 W Jefferson St	0.46mi	4/2.0	2,288 (-0%)	12mo	$127,000	$56	68
910 S Fountain Ave	0.44mi	4/—	2,462 (+7%)	11mo	$135,000	$55	58
910-910.5 S Fountain Ave	0.45mi	4/2.0	2,462 (+7%)	11mo	$135,000	$55	58
336-338 W Euclid Ave	0.20mi	4/2.0	2,550 (+11%)	19mo	$100,000	$39	56
1202 Clifton Ave	0.72mi	4/2.0	2,180 (-5%)	4mo	$124,900	$57	55
1202-1204 Clifton Ave	0.72mi	4/2.0	2,180 (-5%)	4mo	$124,900	$57	54
18-20 W Perrin Ave	0.59mi	4/2.0	2,064 (-10%)	13mo	$194,000	$94	45
1361-1363 Woodward Ave	0.60mi	4/2.0	2,616 (+14%)	6mo	$110,000	$42	43
220 E Euclid Ave	0.67mi	5/2.5 (+1)	2,627 (+14%)	20mo	$55,650	$21	21

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: 69.4%
• Equity multiple: 4.13×
• Total profit: $70,152
• Equity at exit: $11,928

10-year hold

• IRR: 73.5%
• Equity multiple: 8.51×
• Total profit: $168,209
• 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 45506

• Home prices YoY: -14.1%
• Active inventory: 45
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $2,351 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $1,304

Break-even live

Break-even rent $700

Max offer price $80,000

Occupancy floor 40%

Sensitivity live

Price	-10% $1,360	-5% $1,332	+0% $1,304	+5% $1,277	+10% $1,249
Rent	-10% $1,119	-5% $1,212	+0% $1,304	+5% $1,397	+10% $1,490
Rate	-1.0pp $1,345	-0.5pp $1,325	base $1,304	+0.5pp $1,284	+1.0pp $1,263

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,350
Total (2 units)			$2,351

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
356 S Yellow Springs St Springfield, OH	4.0	2.0	1606	$1,825	$1.14	11d	1	0.29mi
534 Homeview Ave Springfield, OH	3.0	1.0	2660	$1,200	$0.45	44d	1	0.85mi
401 Section St Springfield, OH	4.0	2.0	1612	$1,850	$1.15	11d	1	0.89mi

Listing history 4 events

1. 2026-05-11
   status Pending
2. 2026-05-07
   listed $80,000 Active
3. 2006-11-13
   soldstatus $77,000
4. 2006-03-21
   soldstatus $75,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $28,212
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$2,257
• − Management: −$2,257
• − Depreciation: −$2,327
• Taxable income: $15,290
• Est. tax owed @ 24.0%: −$3,669
• After-tax cash flow: $11,984/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

+6.7% since first listed

4 events — show timeline

• 2026-05-11 Pending — WRIST
• 2026-05-07 Listed $80,000 WRIST
• 2006-11-13 Sold (Public Records) $77,000 Public Records
• 2006-03-21 Sold (Public Records) $75,000 Public Records

Property tax history

+24.7%/yr

Latest (2025): $6,630 · +29.7% YoY. Source: county tax records.