| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1020 SW Depot Ave, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 1996 |
| Units | 100 |
| Transaction Date | 2000-12-19 |
| Transaction Price | $749,500 |
| Buyer | PARKSIDE COM L C |
| Seller | COLLIER NATHAN S |
1020 SW Depot Ave Gainesville Multifamily, 1996 Vintage
Renter demand is supported by an Urban Core location with dense dining, grocery, and pharmacy access, according to WDSuite's CRE market data. Neighborhood occupancy trends are below the metro median but a deep renter base and amenity density point to stable leasing fundamentals with disciplined management.
Located in Gainesville's Urban Core, the property benefits from amenity access that is competitive among Gainesville neighborhoods (ranked 16 of 114 overall with an A neighborhood rating). Restaurant density is top-tier nationally, and groceries and pharmacies rank above the metro median, which supports convenience-driven renter retention based on CRE market data from WDSuite.
The neighborhood's construction profile skews newer than much of the metro (average year 1986), and this 1996 vintage positions the asset competitively versus older stock while still warranting capital planning for systems modernization over a long hold.
Renter-occupied share is among the highest in the metro (rank 2 of 114), indicating a large tenant base and depth of demand for multifamily product. By contrast, the neighborhood occupancy rate trends below the metro median (rank 70 of 114), suggesting investors should prioritize leasing execution and targeted renewals to support stability.
Within a 3-mile radius, population and household counts have expanded in recent years and are projected to continue growing, pointing to renter pool expansion that can support occupancy and absorption. A high value-to-income environment versus national norms reinforces reliance on rental housing, which can aid lease retention even as pricing decisions must account for affordability pressure.
Amenities are uneven: restaurants, groceries, and pharmacies are strengths, while parks and cafes are limited in the immediate neighborhood. School ratings in the area track below metro norms; for investors, this tilts demand toward young adults and non-family households, aligning with the area's elevated 18–34 share in the 3-mile view.
Safety indicators in this neighborhood track below both metro and national benchmarks, with crime ranking 67 out of 114 Gainesville neighborhoods (below metro average) and national percentiles indicating higher-than-typical incident levels. Recent year-over-year declines in both violent and property offenses suggest some improvement, but underwriting should reflect a conservative approach to security, lighting, and site operations.
For investors, the takeaway is comparative rather than absolute: relative to many Gainesville subareas, this location requires thoughtful safety management to support leasing and retention, while monitoring trend direction given the recent decreases reported by WDSuite.
This 1996-vintage, 100-unit asset sits in an amenity-rich Urban Core where renter concentration is among the highest in the metro, supporting a deep tenant base. While neighborhood occupancy ranks below the metro median, convenience to restaurants, groceries, and pharmacies provides stickiness that can stabilize leasing with active management, according to CRE market data from WDSuite.
Relative to the neighborhood's older average construction year, the vintage provides competitive positioning versus older stock, though investors should plan for systems updates and common-area refresh over time. Elevated ownership costs versus local incomes reinforce reliance on rental housing, aiding demand durability, but pricing strategy should remain sensitive to affordability to protect retention and minimize turnover.
- Deep renter base in an Urban Core location supports tenant demand and leasing velocity.
- 1996 vintage competes well against older neighborhood stock with potential for value-add through modernization.
- Amenity density (dining, grocery, pharmacy) enhances convenience-driven retention.
- Risk: Neighborhood occupancy below the metro median requires focused leasing and renewal strategy.
- Risk: Below-average safety and affordability pressure call for prudent security and measured rent growth.