| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 111 NW 15th Ter, Gainesville, FL, 32603, US |
| Region / Metro | Gainesville |
| Year of Construction | 1995 |
| Units | 100 |
| Transaction Date | 1989-05-01 |
| Transaction Price | $500,000 |
| Buyer | LOOKING GLASS APARTMENTS LLP |
| Seller | KALLMAN CLAYTON H |
111 NW 15th Ter Gainesville Multifamily Renter-Driven Demand
Neighborhood fundamentals point to a deep renter base and durable leasing demand, according to WDSuite s CRE market data, with occupancy trends lagging the metro but supported by strong nearby amenities. Pricing power will hinge on managing affordability and renewal strategies as demand remains concentrated in renter-occupied units.
Located at 111 NW 15th Ter in Gainesville an Urban Core setting the property sits in a neighborhood rated A and competitive among Gainesville s 114 neighborhoods (ranked 16th). Dining and daily-needs access are strong: restaurants rank at the top of the metro and pharmacies are similarly dense, while grocery access is above the metro median. Parks and caf A9s are limited nearby, so lifestyle appeal leans more urban convenience than green-space access.
For investors, the renter-occupied share is very high at the neighborhood level, indicating a deep tenant base and steady leasing velocity for multifamily assets. Neighborhood occupancy runs below the metro median, so execution will rely on targeted leasing and renewal management to support stability. Net operating income performance in this area is strong on a per-unit basis top decile nationally which aligns with resilient renter demand when assets are well-operated, based on CRE market data from WDSuite.
Demographic indicators within a 3-mile radius point to population growth and an expanding count of households, supporting a larger tenant base over the next few years. The area skews toward younger adults, which typically sustains demand for smaller formats and efficient layouts, while also requiring attention to competitive amenities and community features to drive retention.
Home values in the neighborhood sit in a high-cost ownership context relative to local incomes, which tends to reinforce reliance on rental housing and can support lease retention. That said, rent-to-income levels indicate potential affordability pressure; proactive lease management and value-forward upgrades can help sustain occupancy without overextending rents.
Safety metrics for the neighborhood track below national averages, with both violent and property offenses elevated compared with many neighborhoods nationwide. Compared with Gainesville s 114 neighborhoods, the area trends below the metro median on safety, so investors should underwrite prudent on-site measures and tenant-experience investments.
Recent directionality is constructive: estimated violent and property offense rates have declined year over year, according to WDSuite s CRE market data. Framing this in comparative terms rather than block-level specifics, the takeaway is a submarket where security planning remains important but recent trends show improvement.
This 100-unit asset built in 1995 is newer than the neighborhood s average vintage, offering relative competitiveness versus older stock. Investors should still plan for system modernization and selective value-add to meet current renter expectations. The immediate neighborhood is top quartile within Gainesville and benefits from strong restaurant, grocery, and pharmacy access factors that support leasing and retention even as occupancy sits below the metro median.
Within a 3-mile radius, population and household counts are expanding, pointing to a larger tenant base and continued demand for rental units. A very high neighborhood renter-occupied share underpins depth of demand, while a high-cost ownership landscape relative to incomes supports renter reliance on multifamily housing. According to CRE market data from WDSuite, per-unit income performance in the area is nationally competitive, though affordability pressure and safety perception remain underwriting considerations.
- Newer-than-average 1995 vintage supports competitive positioning; plan for system updates and targeted renovations.
- Deep renter base with very high renter-occupied share supports leasing velocity and renewal potential.
- Strong daily-needs access (restaurants, groceries, pharmacies) aligns with urban-core renter preferences and retention.
- Expanding population and household counts within 3 miles indicate a growing tenant pool and support for occupancy stability.
- Risks: neighborhood occupancy below metro median, affordability pressure, and safety perception warrant conservative underwriting and active management.