| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 110 NW 9th Ter, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 1996 |
| Units | 100 |
| Transaction Date | 2018-10-29 |
| Transaction Price | $1,500,000 |
| Buyer | SUN GRASS PROPERTIES LLC |
| Seller | MITCHELL ROBERT A |
110 NW 9th Ter Gainesville Multifamily Investment
Renter demand is supported by a high renter-occupied housing share and strong amenity access in the Urban Core, according to WDSuite s CRE market data. Relative competitiveness and location fundamentals position this asset for steady screening in multifamily property research.
Situated in Gainesville s Urban Core, the neighborhood ranks 16th among 114 metro neighborhoods (A-rated), signaling competitive fundamentals within the metro. Amenity access is a notable strength: restaurants and pharmacies are dense locally (top tier in the metro and strong nationally), and grocery options are well represented. By contrast, parks and cafes are limited, which may temper certain lifestyle appeals but does not materially detract from daily convenience.
Renter concentration is high: approximately four out of five housing units are renter-occupied, indicating a deep tenant base for multifamily. Neighborhood occupancy trends are softer than the metro median, so active leasing and retention strategies matter to sustain performance. Median contract rents sit near the middle of national peers, providing room to compete on value relative to newer stock and location advantages.
Demographic statistics aggregated within a 3-mile radius show a large 18 34 cohort and recent growth in both population and households, expanding the local renter pool. Forward-looking estimates point to continued household increases, which supports demand for rental units and can aid occupancy stability over time.
Home ownership is a higher-cost proposition relative to local incomes in this area (value-to-income metrics are elevated), which tends to reinforce reliance on rental options and can support lease retention. The average construction year across nearby stock is the late 1980s; at the property level, a 1996 vintage should remain competitive versus older inventory while still benefiting from targeted upgrades to meet current resident expectations. According to CRE market data from WDSuite, neighborhood NOI per unit benchmarks are strong versus metro peers, adding to the submarket s investment appeal.
Safety indicators are mixed relative to the metro and weaker than many neighborhoods nationally. Within the Gainesville metro (114 neighborhoods), the area sits below the metro median for safety, but recent year-over-year trends show declines in both property and violent offense rates, suggesting gradual improvement rather than deterioration.
For investors, this points to prudent risk management: emphasize lighting, access controls, and resident engagement, and underwrite to market-appropriate security and insurance assumptions. Framing performance against the wider region and tracking trendlines will be more informative than block-level readings.
This 1996, 100-unit asset sits in Gainesville s Urban Core with a deep renter base and strong daily conveniences. The local housing stock skews renter-occupied, supporting demand depth, while amenity density (restaurants, grocery, pharmacy) underpins leasing appeal. According to CRE market data from WDSuite, the neighborhood performs competitively within the metro, and local NOI per unit benchmarks are strong, which supports a constructive long-term view if operations are actively managed.
Key considerations include softer neighborhood occupancy relative to metro medians and safety metrics that trail national norms. The 1996 vintage is newer than much of the surrounding stock, offering relative competitiveness with targeted modernization to drive rent readiness while managing capex exposure. Population and household growth within a 3-mile radius expands the tenant base, supporting occupancy stability over time.
- Deep renter-occupied housing base supports tenant demand and lease-up depth.
- Amenity-rich Urban Core location (food, grocery, pharmacy) enhances daily convenience and leasing appeal.
- 1996 vintage provides relative competitiveness vs. older neighborhood stock with targeted upgrades.
- 3-mile population and household growth expands the renter pool, supporting occupancy stability.
- Risks: neighborhood safety trails national norms and occupancy trends are softer; requires disciplined operations and underwriting.