| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 38th | Good |
| Demographics | 48th | Good |
| Amenities | 11th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 366 Roosevelt Dr, Springfield, OH, 45503, US |
| Region / Metro | Springfield |
| Year of Construction | 2007 |
| Units | 23 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
366 Roosevelt Dr Springfield OH Multifamily Investment
Built in 2007 in an inner-suburb pocket where neighborhood occupancy trends sit near the metro middle, this asset benefits from renter demand supported by relative affordability and workforce access, according to WDSuite’s CRE market data.
Located in an inner suburb of Springfield, the property is newer than much of the local housing stock (neighborhood average construction year skews mid-1960s). The 2007 vintage positions the asset competitively versus older comparables, with fewer near-term system replacements expected; investors should still plan for modernization as the building approaches two decades in service.
Neighborhood livability is serviceable for workforce housing: restaurants are comparatively present, while cafes, groceries, parks, and pharmacies are sparse within the neighborhood cluster. Average school ratings in the neighborhood trend low, which may shape tenant mix toward singles and couples rather than school-driven demand. These dynamics typically support stable leasing at value-oriented price points rather than premium positioning.
Neighborhood-level occupancy is around the metro median, and asking rents track the lower end of the metro spectrum with measured growth over the past five years. The neighborhood’s renter concentration is roughly one-third of housing units being renter-occupied, while the broader 3-mile radius shows closer to half renter-occupied — indicating a deeper tenant base than the immediate blocks alone. Home values in the neighborhood sit in a high-$100s to low-$200s context, which, alongside a rent-to-income profile near the middle nationally, can reinforce lease retention by offering more accessible rental options relative to ownership.
Within a 3-mile radius, recent years show flat-to-slightly lower population and household counts, but projections point to growth in households and higher incomes by 2028. For investors, that suggests a larger tenant base and potential support for occupancy stability and measured rent growth over time, based on commercial real estate analysis from WDSuite as a data reference point.
Safety indicators for the neighborhood sit near the middle both locally and nationally. Compared with the Springfield metro, the neighborhood is around the median among 56 neighborhoods. Nationally, overall crime levels align roughly with the midpoint, while violent incidents read below the national middle — a caution to factor into leasing and security planning.
Trend-wise, WDSuite’s CRE market data shows meaningful year-over-year improvement: estimated property offenses and violent offenses both declined, placing the pace of improvement in the stronger tiers nationally. For investors, the directional trend is constructive, but underwriting should still assume average neighborhood safety with continued attention to lighting, access control, and tenant communication.
Proximity to steady employers supports workforce renter demand and commute convenience, including Waste Management, Staples Fulfillment Center, Parker-Hannifin, Big Lots, and Cardinal Health.
- Waste Management — environmental services (2.2 miles)
- Staples Fulfillment Center — distribution & logistics (21.4 miles)
- Parker-Hannifin Corporation — manufacturing & engineering offices (31.3 miles)
- Big Lots — retail corporate offices (36.7 miles) — HQ
- Cardinal Health — healthcare distribution (37.8 miles) — HQ
366 Roosevelt Dr offers a 2007-vintage, 23-unit footprint in an inner-suburb setting where neighborhood occupancy trends are roughly mid-pack and rents remain value-oriented. The newer vintage relative to local stock (1960s average) provides competitive positioning versus older assets, with a pragmatic plan for updates as systems age. Affordability signals — including rent levels that track near the middle of income — support retention and steady demand.
Within a 3-mile radius, population has been stable to slightly down in recent years, but forecasts indicate household and income growth by 2028, suggesting a larger tenant base and support for occupancy. According to CRE market data from WDSuite, local crime trends are improving and neighborhood restaurant access is decent, though limited neighborhood amenities and lower school ratings suggest demand will skew toward workforce-oriented renters rather than families seeking top-tier schools.
- 2007 vintage competes well against older neighborhood stock, with modernization upside as systems age.
- Value-oriented rents and mid-range rent-to-income support tenant retention and steady leasing.
- Workforce proximity: access to regional employers underpins everyday renter demand and lease stability.
- Forward outlook: 3-mile household and income growth by 2028 supports a larger renter base.
- Risks: average neighborhood safety, limited amenities, and lower school ratings may temper family-driven demand and warrant conservative underwriting.