| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 55th | Best |
| Amenities | 37th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4725 Security Dr, Springfield, OH, 45503, US |
| Region / Metro | Springfield |
| Year of Construction | 1978 |
| Units | 50 |
| Transaction Date | 2006-05-30 |
| Transaction Price | $1,306,000 |
| Buyer | COLLINS ROAD PROPERTIES LTD |
| Seller | JEFFREY PLACE LTD |
4725 Security Dr Springfield, OH Multifamily Investment
Neighborhood fundamentals point to stable renter demand and high occupancy, according to CRE market data from WDSuite. Focus is on a predominantly owner-occupied area with steady leasing performance at the neighborhood level, supporting consistent cash flow potential.
The property sits in an Inner Suburb pocket of Springfield ranked 3rd among 56 metro neighborhoods (A+ rating), indicating it is competitive among Springfield, OH neighborhoods for overall livability and investment appeal. Neighborhood occupancy is measured for the area at 97.1% with a rank of 11 of 56, placing it in the top quartile locally and around the 84th percentile nationally, a constructive backdrop for income stability.
The surrounding housing stock trends newer (average 1995 construction for this neighborhood), while the asset was built in 1978. For investors, the older vintage can present value-add potential through targeted renovations and systems upgrades to improve competitive positioning against newer comparables.
Renter concentration in the neighborhood is about 31.7% of housing units being renter-occupied (rank 21 of 56), signaling a smaller but steady tenant base. Within a 3-mile radius, households increased modestly over the last five years even as population was flat to slightly down, implying smaller household sizes and continued demand for multifamily units; forecasts point to growth in both population and households by 2028, supporting a larger tenant base and occupancy stability.
Livability drivers are mixed: parks access is a relative strength (around the 91st percentile nationally), with restaurants and groceries available at roughly mid-to-high metro standing. Cafes and pharmacies are thinner in the immediate neighborhood. Average school ratings are solid for the metro (ranked 3rd of 56), which can aid retention for family-oriented renters.
On costs, neighborhood home values are comparatively accessible in a national context (around the 28th percentile), which can introduce some competition from ownership. That said, rent-to-income levels in the area trend moderate, a positive for lease management and retention. Median contract rents in the neighborhood are mid-pack nationally, offering room to position smaller units as more accessible rental options relative to ownership.
Comparable safety metrics specific to this neighborhood were not published in the available WDSuite dataset. Investors typically benchmark neighborhood safety against metro and national trends to gauge leasing velocity and retention; absent a current rank or percentile, underwriting should rely on property-level history, insurer feedback, and recent local trend checks.
Nearby employers provide a diversified employment base that supports renter demand through commute convenience, including waste services, logistics, manufacturing, and major corporate headquarters noted below.
- Waste Management — environmental services (5.45 miles)
- Staples Fulfillment Center — logistics & distribution (20.89 miles)
- Parker-Hannifin Corporation — manufacturing (28.34 miles)
- Big Lots — retail corporate (35.45 miles) — HQ
- Cardinal Health — healthcare distribution (35.65 miles) — HQ
Built in 1978 with 50 units and compact average floor plans, the asset can target cost-conscious renters while benefiting from neighborhood occupancy measured at 97.1%. Based on CRE market data from WDSuite, the area ranks competitively within the Springfield metro, with strong parks access and mid-tier retail amenities that help underpin daily convenience and leasing stability. The older vintage suggests scope for targeted value-add (interiors, common areas, building systems) to narrow the gap versus the neighborhood’s newer average stock.
Within a 3-mile radius, recent household growth alongside flat population points to smaller household sizes and a stable renter pool, with forecasts indicating both population and household expansion by 2028. Home values remain comparatively accessible for the region, which can create ownership alternatives; however, moderate rent-to-income levels and a measured renter concentration support ongoing demand for well-positioned multifamily units.
- High neighborhood occupancy and competitive metro rank support income stability
- 1978 vintage presents value-add upside versus newer neighborhood stock
- Compact unit sizes align with cost-conscious demand and lease-up flexibility
- 3-mile household growth and forecast expansion increase the tenant base
- Risks: owner-leaning tenure, accessible homeownership options, and thinner café/pharmacy amenities