| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 26th | Poor |
| Demographics | 22nd | Poor |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 363 E High St, Springfield, OH, 45505, US |
| Region / Metro | Springfield |
| Year of Construction | 1977 |
| Units | 120 |
| Transaction Date | 1991-07-01 |
| Transaction Price | $4,253,000 |
| Buyer | BENCHMARK SPRINGFIELD TOWERS ASSOCI |
| Seller | SPRINGFIELD TOWERS |
363 E High St, Springfield OH Multifamily Investment
Renter concentration sits in the top quartile locally, supporting stable leasing fundamentals for a 120-unit asset, according to WDSuite’s CRE market data. Improving crime trends and everyday amenities nearby add to durability, with pricing still positioned for workforce demand.
This Inner Suburb pocket of Springfield offers everyday convenience: restaurant and cafe density ranks competitive among Springfield neighborhoods (ranked 3–4 out of 56), and grocery access also performs above the metro median. Parks, pharmacies, and childcare are limited nearby, so marketing should emphasize on-site features and quick access to core corridors over recreational adjacency.
Renter-occupied housing share is in the top quartile among 56 Springfield neighborhoods, indicating a deep tenant base and practical demand for multifamily. Neighborhood occupancy has trended up modestly in recent years but remains below the metro median, suggesting leasing stability with room to capture share through management and positioning.
Home values in the immediate area are lower than national norms, which can create some competition with ownership; however, median asking rents remain modest and the rent-to-income profile indicates manageable affordability pressure, supporting retention and steady absorption. School ratings trail regional averages, which skews demand toward value-minded renters rather than households prioritizing top-rated schools.
Within a 3-mile radius, population has inched higher and is projected to grow further alongside rising incomes and slight reductions in average household size—factors that typically expand the renter pool and support occupancy stability. These trends, based on multifamily property research from WDSuite, point to consistent workforce housing demand, even as some households consider ownership.
The property was built in 1977, which is newer than the neighborhood’s older housing stock. For investors, that vintage can compete well against prewar inventory while still offering clear value-add and systems modernization opportunities to enhance rents and reduce long-term capital risk.
Relative to 56 Springfield neighborhoods, this area sits below the metro median for safety, and its national standing is also below average. That said, recent year-over-year declines in both violent and property offenses signal improving conditions, which can support leasing and renewal efforts if the trend persists.
Investors should underwrite conservative security and lighting upgrades and active property management, using the improving trajectory as a tailwind rather than an assumption. Comparatively, the neighborhood is competitive among Springfield submarkets showing recent crime reductions, but not yet in the top quartile nationally.
Nearby employers span waste services, distribution, diversified industrials, and large corporate headquarters within commuting range—supporting workforce renter demand and retention for Springfield assets like this one.
- Waste Management — waste services (1.7 miles)
- Staples Fulfillment Center — distribution (21.5 miles)
- Parker-Hannifin Corporation — diversified industrials (32.4 miles)
- Big Lots — retail HQ (37.0 miles) — HQ
- Cardinal Health — healthcare distribution (38.5 miles) — HQ
363 E High St presents a workforce-oriented, 120-unit opportunity in a renter-heavy Springfield neighborhood where everyday amenities are strong and leasing fundamentals are supported by a deep tenant base. According to CRE market data from WDSuite, renter concentration is top quartile locally while neighborhood occupancy has been edging higher, suggesting steady demand with operational upside from focused leasing, turns, and targeted upgrades.
The 1977 vintage is competitive against the area’s older housing stock and offers clear value-add pathways—unit modernization, energy-efficiency improvements, and common-area refreshes—to strengthen positioning without overreaching on rents. Lower local home values can introduce some competition with ownership, but moderate rent-to-income dynamics support retention, and 3-mile projections for population and income growth point to a gradually expanding renter pool. Key risks include below-median safety and limited parks/pharmacies nearby; both can be mitigated with property-level improvements and service-forward management.
- Renter concentration in the top quartile locally supports a durable tenant base
- Occupancy trending upward with operational upside versus metro peers
- 1977 vintage offers value-add and modernization potential relative to older stock
- Everyday amenities (food, grocery) nearby align with workforce demand
- Risks: below-median safety and limited parks/pharmacies; mitigate via security, lighting, and service-forward operations