836-838 Rodgers Dr · Springfield, OH 45503

$180,000

4 bd · 2.0 ba · 2,862 sqft · MultiFamily · 316 Days on market

Built 1939 Good condition 0.25 ac lot $63/sqft · 23% above area Est $147k · 23% over ↓ 22% since listing

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Why this score? — see what drove the D+ 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 +24.4/30.0
• DSCR +7.9/10.0
• 1% rule +6.3/10.0
• Condition / age +3.8/5.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• ARV discount +0.0/15.0
• 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 MLS

Turnkey duplex opportunity in the heart of Springfield! Welcome to 836-838 Rodgers Dr, a spacious and well-maintained duplex offering endless possibilities for investors or owner-occupants alike. Whether you're looking to expand your investment portfolio, live in one side while renting the other, or accommodate multi-generational living, this property checks all the boxes! Each unit features 2 bedrooms and 1 full bath with beautiful hardwood flooring throughout. With approximately 2,862 square feet of living space, both sides offer roomy layouts and plenty of potential. Outside, enjoy a fenced-in yard and a detached 2-car garage for added convenience and storage. Currently vacant and ready for its next owner, this duplex is move-in ready and full of opportunity. Don't miss your chance to own a versatile income-producing property in a desirable location-- $1000 a month per side for renting purposes! -- schedule your showing today!

Key facts

• Updated duplex
• Hvac systems
• Two units

Tags

• UPDATED DUPLEX
• TWO UNITS
• HVAC SYSTEMS
• GREAT INCOME POTENTIAL

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $367 ($4k/yr) — positive. Per door: $183/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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.
• Zoned schools: Lagonda Elementary School (math 16% / reading 25%, grade F, #1,279 of 1,584 statewide, top 81%, 363 students, 0% FRL); Roosevelt Middle School (math 30% / reading 36%, grade F, #553 of 654 statewide, top 85%, 397 students, 0% FRL); Springfield High School (math 17% / reading 31%, grade F, #665 of 781 statewide, top 85%, 1,516 students, 0% FRL) — zoned schools average 0% FRL vs 75% district-wide (75 pts lower); this property's tenant base skews higher-income than the district average.
• 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).
• This rent runs 45% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 316 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 316 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 1.13% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.74%
• DSCR: 1.39
• GRM: 7.4

CMA / ARV

• ARV (median comp): $146,530
• List price: $180,000
• Delta: 22.84%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1107 N Fountain Ave	0.73mi	5/— (+1)	2,606 (-9%)	0mo	$140,000	$54	46
1024-1026 Garfield Ave	0.61mi	4/2.0	2,508 (-12%)	11mo	$135,000	$54	42
1024 Garfield Ave	0.61mi	4/2.0	2,508 (-12%)	11mo	$135,000	$54	42

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-5,771
• Equity at exit: $26,839

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $25,188
• Equity at exit: $15,563

Cash invested: $50,400 (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 45503

• Active inventory: 144
• Price-to-rent: 14.7×

Monthly cashflow live

• Estimated rent: $2,039 medium
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $367

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 77%

Sensitivity live

Price	-10% $491	-5% $429	+0% $367	+5% $305	+10% $242
Rent	-10% $206	-5% $286	+0% $367	+5% $447	+10% $528
Rate	-1.0pp $458	-0.5pp $413	base $367	+0.5pp $320	+1.0pp $273

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,040
Total (2 units)			$2,039

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: $45,000
• Closing costs: $5,400
• 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	45d	1	1.21mi

Listing history 19 events

1. 2026-06-19
   days on market $180,000 Active 316 DOM
2. 2026-06-18
   days on market $180,000 Active 315 DOM
3. 2026-06-17
   days on market $180,000 Active 314 DOM
4. 2026-06-16
   days on market $180,000 Active 313 DOM
5. 2026-06-15
   days on market $180,000 Active 312 DOM
6. 2026-06-14
   days on market $180,000 Active 310 DOM
7. 2026-06-12
   days on market $180,000 Active 309 DOM
8. 2026-06-09
   days on market $180,000 Active 306 DOM
9. 2026-06-08
   days on market $180,000 Active 305 DOM
10. 2026-06-07
    days on market $180,000 Active 304 DOM
11. 2026-06-05
    days on market $180,000 Active 301 DOM
12. 2026-06-02
    days on market $180,000 Active 299 DOM
13. 2026-06-01
    days on market $180,000 Active 298 DOM
14. 2026-05-31
    days on market $180,000 Active 297 DOM
15. 2026-05-30
    days on market $180,000 Active 296 DOM
16. 2026-05-20
    price $180,000 949-char remark

    Show marketing remark (949 chars)

    Turnkey duplex opportunity in the heart of Springfield! Welcome to 836-838 Rodgers Dr, a spacious and well-maintained duplex offering endless possibilities for investors or owner-occupants alike. Whether you're looking to expand your investment portfolio, live in one side while renting the other, or accommodate multi-generational living, this property checks all the boxes! Each unit features 2 bedrooms and 1 full bath with beautiful hardwood flooring throughout. With approximately 2,862 square feet of living space, both sides offer roomy layouts and plenty of potential. Outside, enjoy a fenced-in yard and a detached 2-car garage for added convenience and storage. Currently vacant and ready for its next owner, this duplex is move-in ready and full of opportunity. Don't miss your chance to own a versatile income-producing property in a desirable location-- $1000 a month per side for renting purposes! -- schedule your showing today!

17. 2025-12-10
    price $200,000 949-char remark

    Show marketing remark (949 chars)

    Turnkey duplex opportunity in the heart of Springfield! Welcome to 836-838 Rodgers Dr, a spacious and well-maintained duplex offering endless possibilities for investors or owner-occupants alike. Whether you're looking to expand your investment portfolio, live in one side while renting the other, or accommodate multi-generational living, this property checks all the boxes! Each unit features 2 bedrooms and 1 full bath with beautiful hardwood flooring throughout. With approximately 2,862 square feet of living space, both sides offer roomy layouts and plenty of potential. Outside, enjoy a fenced-in yard and a detached 2-car garage for added convenience and storage. Currently vacant and ready for its next owner, this duplex is move-in ready and full of opportunity. Don't miss your chance to own a versatile income-producing property in a desirable location-- $1000 a month per side for renting purposes! -- schedule your showing today!

18. 2025-09-17
    price $215,000 949-char remark

    Show marketing remark (949 chars)

    Turnkey duplex opportunity in the heart of Springfield! Welcome to 836-838 Rodgers Dr, a spacious and well-maintained duplex offering endless possibilities for investors or owner-occupants alike. Whether you're looking to expand your investment portfolio, live in one side while renting the other, or accommodate multi-generational living, this property checks all the boxes! Each unit features 2 bedrooms and 1 full bath with beautiful hardwood flooring throughout. With approximately 2,862 square feet of living space, both sides offer roomy layouts and plenty of potential. Outside, enjoy a fenced-in yard and a detached 2-car garage for added convenience and storage. Currently vacant and ready for its next owner, this duplex is move-in ready and full of opportunity. Don't miss your chance to own a versatile income-producing property in a desirable location-- $1000 a month per side for renting purposes! -- schedule your showing today!

19. 2025-08-07
    listed $230,000 Active 949-char remark

    Show marketing remark (949 chars)

    Turnkey duplex opportunity in the heart of Springfield! Welcome to 836-838 Rodgers Dr, a spacious and well-maintained duplex offering endless possibilities for investors or owner-occupants alike. Whether you're looking to expand your investment portfolio, live in one side while renting the other, or accommodate multi-generational living, this property checks all the boxes! Each unit features 2 bedrooms and 1 full bath with beautiful hardwood flooring throughout. With approximately 2,862 square feet of living space, both sides offer roomy layouts and plenty of potential. Outside, enjoy a fenced-in yard and a detached 2-car garage for added convenience and storage. Currently vacant and ready for its next owner, this duplex is move-in ready and full of opportunity. Don't miss your chance to own a versatile income-producing property in a desirable location-- $1000 a month per side for renting purposes! -- schedule your showing today!

ⓘ 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: $24,468
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$1,957
• − Management: −$1,957
• − Depreciation: −$5,236
• Taxable income: $1,634
• Est. tax owed @ 24.0%: −$392
• After-tax cash flow: $4,010/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated duplex is ready for move-in. It offers spacious living areas and a fenced yard, making it an attractive investment opportunity.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace landscaping — Improves curb appeal and value
• Both Replace windows — Improves energy efficiency and value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace landscaping — Improves curb appeal and value ↑
• Both Replace windows — Improves energy efficiency and value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-21.7% since first listed

4 events — show timeline

• 2026-05-20 Price Changed $180,000 WRIST
• 2025-12-10 Price Changed $200,000 WRIST
• 2025-09-17 Price Changed $215,000 WRIST
• 2025-08-07 Listed $230,000 WRIST