| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 55th | Best |
| Amenities | 37th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4726 Security Dr, Springfield, OH, 45503, US |
| Region / Metro | Springfield |
| Year of Construction | 1983 |
| Units | 54 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4726 Security Dr, Springfield OH Multifamily Opportunity
Neighborhood occupancy is strong and renter demand appears steady for this inner-suburb location, according to WDSuite’s CRE market data. Stability at the neighborhood level can support predictable cash flow for a 54‑unit asset while offering room to capture operational upside over time.
The property sits in an Inner Suburb of Springfield that ranks 3rd of 56 metro neighborhoods (A+ rating), indicating broadly favorable livability for renters and workforce households. Neighborhood occupancy is 97.1% (neighborhood metric, not property-specific) and places the area in the top quartile nationally and competitive among Springfield neighborhoods, supporting lease-up and retention for stabilized multifamily.
Daily needs are reasonably served: grocery access ranks 9th of 56 locally with a national standing around the upper-mid range, and restaurant density is competitive at 12th of 56. Parks access is a relative strength (2nd of 56; top decile nationally), which enhances neighborhood livability for families and seniors. Cafe and pharmacy counts are limited in the immediate area, so residents may rely on nearby districts for certain services.
Within a 3-mile radius, households have grown modestly in recent years and are projected to expand further by 2028, pointing to a larger tenant base and supportive demand for rental units. Median household incomes have trended upward while median contract rents remain moderate, keeping rent-to-income levels in a range that can aid retention and reduce turnover risk. Based on CRE market data from WDSuite, the neighborhood’s renter-occupied share (about one-third of housing units) signals a meaningful, though not dominant, renter concentration that aligns with mid-scale multifamily demand.
Home values in this submarket are below national medians, which can introduce some competition from ownership. For investors, this typically favors well-maintained properties with clear value propositions—functional layouts, responsive management, and amenity-light operations that keep effective rents aligned with local incomes—helping sustain occupancy and pricing discipline.
Specific crime statistics for this neighborhood are not available in the current WDSuite dataset. Investors typically benchmark neighborhood safety by comparing Springfield and Clark County trends and conducting on-the-ground diligence at different times of day to understand resident perceptions and potential impacts on leasing and retention.
Proximity to a mix of operations and corporate facilities supports a local workforce renter base and practical commute times. Notable nearby employers include Waste Management, Staples Fulfillment Center, Parker-Hannifin, Big Lots, and Cardinal Health.
- Waste Management — environmental services (5.45 miles)
- Staples Fulfillment Center — distribution & logistics (20.86 miles)
- Parker-Hannifin Corporation — industrial manufacturing offices (28.32 miles)
- Big Lots — retail corporate offices (35.42 miles) — HQ
- Cardinal Health — healthcare distribution corporate offices (35.62 miles) — HQ
Built in 1983, this 54‑unit asset offers a pragmatic value‑add path: vintage systems and interiors may benefit from targeted capex while the neighborhood’s competitive occupancy and steady renter base support ongoing absorption. According to CRE market data from WDSuite, neighborhood occupancy sits in the top quartile nationally and above the metro median, and the 3‑mile area is projected to see continued household growth—factors that collectively support tenant demand and leasing stability.
Rents in the surrounding neighborhood are moderate relative to incomes, which can bolster retention and lower turnover costs. While ownership remains comparatively accessible in this submarket, well‑run multifamily with reliable operations and functional finishes can remain compelling for renters who prioritize convenience and value, particularly given strong parks access and workable proximity to employment nodes.
- Top‑quartile neighborhood occupancy supports stabilized cash flow potential
- 3‑mile household growth outlook expands the tenant base and supports leasing
- Moderate neighborhood rents versus incomes aid retention and pricing discipline
- 1983 vintage presents focused value‑add and systems‑upgrade opportunities
- Risks: limited nearby cafe/pharmacy options and accessible homeownership could pressure rent growth