| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Poor |
| Demographics | 7th | Poor |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 329 E John St, Springfield, OH, 45505, US |
| Region / Metro | Springfield |
| Year of Construction | 1998 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
329 E John St Springfield Multifamily Investment
Renter concentration in the surrounding neighborhood supports a consistent tenant base, while the property s 1998 vintage competes well against older local stock, according to WDSuite s CRE market data. Investors should weigh demand stability against submarket amenity gaps to calibrate lease-up and retention strategies.
This Inner Suburb neighborhood of Springfield, OH carries a B- neighborhood rating and sits near the middle of the metro pack (32 out of 56 neighborhoods). Neighborhood metrics referenced here reflect the area, not the property. Compared with the metro, it is not in the top tier, but it offers workable fundamentals for workforce housing and value-focused strategies.
Amenities are mixed. Cafes and restaurants score above national norms (cafes around the mid-80s percentile; restaurants in the mid-70s), and pharmacies and childcare density are notable strengths (both in the low-90s percentiles). However, neighborhood access to grocery stores and parks is limited. This combination suggests everyday conveniences are present, but residents may travel farther for groceries and green space.
On housing dynamics, neighborhood occupancy is reported at roughly the low-80% range and has softened in recent years, while about 56.6% of housing units are renter-occupied. For investors, that renter-occupied share indicates meaningful depth in the tenant pool, even as leasing may require active management to sustain occupancy stability.
The area s housing stock skews older (average vintage around 1928). Against this backdrop, a 1998 asset can position competitively versus much older buildings, though standard system updates and selective renovations may still be prudent to maintain edge. Home values are comparatively low for the region, which can create some competition from entry-level ownership; at the same time, modest rents and a rent-to-income ratio near 0.20 point to manageable affordability pressure and potential retention benefits. Based on multifamily property research by WDSuite, modest population growth and income gains in the 3-mile radius support a stable, value-oriented renter base over time.
Within a 3-mile radius, demographics show a stable population with slight growth over the past five years and projections for continued expansion. Household counts are expected to increase, while average household size trends modestly lower, which can expand the renter pool and support steady demand for smaller, budget-conscious units. Income levels have been rising in this radius, supporting gradual improvements in rent collections and leasing durability.
Safety indicators for the neighborhood are mixed and should be considered in underwriting. Relative to other Springfield metro neighborhoods (56 total), the area does not rank among the safer cohorts. Nationally, current property and violent offense rates map to lower percentiles, indicating a comparatively higher incidence than many U.S. neighborhoods. That said, year-over-year trends show meaningful improvement, with double-digit declines in both property and violent offenses over the last reported year, suggesting conditions have been moving in a better direction. These figures describe the neighborhood, not the property.
Proximity to established corporate employers supports workforce housing demand and commute convenience for residents, notably in waste services, logistics, manufacturing, and large corporate offices including retail and healthcare. The following nearby employers anchor the area s employment base:
- Waste Management industry/role: waste services (2.4 miles)
- Staples Fulfillment Center industry/role: logistics & distribution (21.6 miles)
- Parker-Hannifin Corporation industry/role: manufacturing offices (33.4 miles)
- Big Lots industry/role: retail corporate offices (37.3 miles) HQ
- Cardinal Health industry/role: healthcare corporate offices (39.1 miles) HQ
329 E John St offers 40 units with smaller average unit sizes, aligning with value-oriented renter segments in a neighborhood where over half of housing units are renter-occupied. The asset s 1998 construction stands newer than much of the surrounding housing stock, which is predominantly pre-war, providing a relative competitive edge while leaving room for targeted upgrades to sustain leasing momentum and support pricing power.
Neighborhood fundamentals are mixed but workable for stable operations: cafes, restaurants, pharmacies, and childcare access test above national norms, while grocery and park access are limited. Occupancy at the neighborhood level has softened, so execution around renewals and leasing velocity will matter; however, modest rent-to-income levels and steady population growth within a 3-mile radius point to a resilient tenant base. According to CRE market data from WDSuite, offense rates have trended down year over year, which, if sustained, could further support retention and leasing stability.
- 1998 vintage competes well against older neighborhood stock; plan for selective system and interior updates
- Renter-occupied share supports depth of tenant base and occupancy stability potential
- amenity strengths in cafes, restaurants, pharmacies, and childcare enhance livability for workforce renters
- 3-mile radius shows population and income growth, supporting steady demand and collections
- Risks: neighborhood occupancy softness, limited grocery/park access, and below-average safety metrics require active leasing and asset management