Active

305 Broadway

Spencerville, OH 45887

$215,000

MLS #309292

Bedrooms

Bathrooms

Type

Multi-Family

About this home

High-Yield Investment Opportunity! Secure an immediate high-return addition to your portfolio with this versatile three-unit rental property. This well maintained property is an absolute powerhouse for income seekers, generating nearly $30,000 in annual net income through its established rental history. Ideally suited for a long-term ''buy and hold'' strategy, and uniquely features permissive industrial zoning, providing a rare layer of flexibility and long-term land value that is difficult to find in standard residential investments. The primary structure is substantial, offering a spacious 1,283 square feet on the first floor and 909 square feet on the upper level. Currently configured as a three-unit rental, the layout includes four bedrooms and three full bathrooms. Tenants will appreciate the varied outdoor living spaces, including a 281-square-foot open masonry porch, multiple wood decks, and two enclosed porches. In addition to the main units, the property includes a 360-square-foot detached frame garage that offers secure in-demand storage for tenants. This is a prime opportunity to acquire a cash-flowing asset, with industrial zoning that paves the way for future growth and specialized use cases in the heart of Spencerville.

Property details

Listed: 5/21/2026
Listing office: Superior Plus Realtors
Listing agent: Tim Stanford
ZIP: 45887
Status: Active

Investment property loan estimator

Purchase priceDown payment — 25% ($53,750)

Interest rate

Loan term

Property tax

%/yr

Insurance

HOA / fees

Estimated monthly

$1,562

per month, all-in

Principal & interest: $1,100
Property tax: $287
Insurance: $175

2–4 unit investment properties typically require 20–25% down for non-owner-occupied financing. Owner-occupied house-hacking (live in one unit) may qualify for 3.5–5% down with FHA/conventional. Estimates only.