| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 24th | Poor |
| Demographics | 27th | Poor |
| Amenities | 18th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 600 Crossgate Ct, Springfield, OH, 45505, US |
| Region / Metro | Springfield |
| Year of Construction | 1983 |
| Units | 32 |
| Transaction Date | 1982-09-01 |
| Transaction Price | $100,000 |
| Buyer | CROSSGATES LTD |
| Seller | --- |
600 Crossgate Ct Springfield Multifamily Investment
Positioned for workforce demand with modest neighborhood occupancy and broader 3-mile renter depth, according to WDSuite’s CRE market data. 1983 vintage suggests practical value-add levers to lift leasing performance and retention.
The immediate neighborhood ranks above the metro median for basic retail access, with grocery options comparatively closer than many Springfield subareas, while cafes, parks, and childcare are limited. Average school ratings in the area are low, which typically aligns with workforce-oriented renter profiles rather than school-driven demand. Nationally, amenity density sits in lower percentiles, so leasing narratives may lean on convenience and value rather than lifestyle offerings.
Construction in the neighborhood skews older (average 1920s), making this property’s 1983 vintage newer than much of the surrounding stock. That positioning can be competitive versus aging comparables, while still leaving room for targeted capital projects to modernize systems and finishes for rent lift and improved leasing velocity.
Neighborhood housing data indicates roughly one-third of units are renter-occupied, implying a thinner immediate renter concentration. However, demographics aggregated within a 3-mile radius show a broader tenant base with a roughly balanced owner–renter mix and modest population growth in recent years, with additional growth projected by 2028. This combination suggests demand will be drawn from just beyond the block group cluster, supporting occupancy stability even if the immediate blocks lean more owner-heavy.
Home values in the area are comparatively low for the region, which can increase competition from entry-level ownership. Even so, rent-to-income conditions trend manageable, reinforcing lease retention and pricing flexibility. Neighborhood occupancy sits below the metro median, so operational focus on marketing reach beyond the immediate blocks and on light value-add improvements can be important levers to sustain absorption and renewal rates.
Crime conditions trend near the national middle overall, with the neighborhood ranking in the lower half of Springfield’s 56 neighborhoods. Recent year data from WDSuite shows notable declines in both property and violent offense rates, which is a constructive directional signal but not a guarantee of future conditions.
For investors, this profile points to standard risk controls: proactive lighting and visibility, resident screening, and coordination with local community resources. Position marketing to emphasize property-level security measures rather than block-level claims, as safety perceptions can vary within short distances.
Nearby employers provide steady blue- and white-collar demand drivers, supporting commute convenience and resident retention. Key nodes within regional reach include Waste Management, Staples, Parker-Hannifin, Big Lots, and Cardinal Health.
- Waste Management — environmental services (2.98 miles)
- Staples Fulfillment Center — distribution (20.65 miles)
- Parker-Hannifin Corporation — manufacturing offices (32.57 miles)
- Big Lots — retail corporate (36.33 miles) — HQ
- Cardinal Health — healthcare distribution (38.21 miles) — HQ
This 1983, 32-unit property sits newer than much of the surrounding housing stock, creating a practical platform for targeted value-add to improve competitiveness against older comparables. Neighborhood occupancy trends below the metro median, but broader 3-mile demographics indicate a larger renter pool and ongoing population growth, supporting stabilization when marketing draws from the wider trade area. According to CRE market data from WDSuite, rent levels relative to incomes suggest manageable affordability pressure, which can aid lease retention and allow measured rent repositioning alongside incremental upgrades.
Local amenity depth is modest, with stronger access to essentials than to lifestyle offerings, so the investment case rests on workforce demand, operational execution, and selective capital improvements. Ownership costs in the area are comparatively accessible, which can create competition from entry-level buyers; disciplined unit turns, attention to resident experience, and compelling total housing cost propositions are key to maintaining pricing power.
- 1983 vintage offers clear value-add pathways versus older neighborhood stock
- Broader 3-mile renter base and projected population growth support demand
- Manageable rent-to-income dynamics support retention and measured rent lift
- Essential retail access aids leasing despite limited lifestyle amenities
- Risk: below-metro-median neighborhood occupancy and entry-level ownership competition