| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 130 NW 9th Ter, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 1997 |
| Units | 100 |
| Transaction Date | 2018-10-29 |
| Transaction Price | $1,500,000 |
| Buyer | SUN GRASS PROPERTIES LLC |
| Seller | MITCHELL ROBERT A |
130 NW 9th Ter Gainesville Multifamily Opportunity
Neighboring metrics point to deep renter demand and strong service access, while occupancy has softened from prior years according to WDSuite’s CRE market data—positioning this asset for operational focus and value-capture.
The property sits in Gainesville’s Urban Core where neighborhood-level operating conditions are comparatively strong: the area ranks among the top performers metro-wide for average NOI per unit, indicating a supportive environment for revenue management (neighborhood metric, not the property). Restaurants and daily-needs retail are dense for the metro, with neighborhood amenity data showing high access to groceries and pharmacies, though park space and cafe density are limited.
Renter concentration is high at the neighborhood level, with a large share of housing units renter-occupied—supporting a broad tenant base for multifamily. Neighborhood occupancy is below the metro median and has trended down over five years, suggesting that hands-on leasing and renewals will matter to sustain performance. Median neighborhood rents sit mid-pack for the region, helping demand depth, but lease strategy should weigh affordability signals alongside unit quality.
Within a 3-mile radius, demographics show population and households have grown in recent years, and projections indicate continued increases in households—expanding the renter pool and supporting occupancy stability over time. The radius skews toward ages 18–34, which can translate to steady apartment turnover and ongoing demand for smaller formats, provided management aligns finish levels and pricing with this cohort.
Neighborhood ownership costs are elevated relative to local incomes, which typically sustains reliance on rental housing and can support lease-up velocity for well-positioned units. At the same time, neighborhood rent-to-income readings point to affordability pressure for some renter households; investors should emphasize cost-effective retention, utility controls, and targeted upgrades to protect renewals and minimize concessions.
Safety outcomes at the neighborhood level trail both metro and national comparisons, placing this area below the metro median among 114 Gainesville neighborhoods. Recent data show year-over-year declines in both property and violent offense rates, indicating improvement, but levels remain elevated relative to many peer neighborhoods nationwide.
For underwriting, this profile warrants pragmatic measures—enhanced lighting, access control, and resident engagement—paired with close monitoring of local trends and coordination with property management. Positioning on well-traveled corridors and proximity to daily-needs retail may aid perceived safety during leasing, but investors should underwrite to conservative assumptions.
Built in 1997, the asset is newer than the neighborhood’s average vintage, offering competitive positioning versus older stock while still leaving room for selective modernization and systems planning. The Urban Core location shows strong service access and a large renter-occupied housing base, which supports demand depth even as neighborhood occupancy sits below the metro median. Based on commercial real estate analysis from WDSuite, the surrounding 3-mile area has seen growth in population and households, with projections pointing to further renter pool expansion—favorable for long-term leasing stability if affordability is managed carefully.
Neighborhood-level data indicate elevated ownership costs relative to incomes, which often sustains rental demand, while high restaurants and daily-needs density adds to livability for residents. Risks include safety metrics that lag the metro and signs of affordability pressure at the neighborhood level; execution should focus on cost control, targeted value-add, and disciplined leasing to preserve occupancy and pricing power.
- 1997 vintage offers competitive positioning with selective value-add potential
- Strong neighborhood renter base supports tenant depth and leasing velocity
- 3-mile population and household growth underpin long-term demand
- Dense daily-needs and restaurant access enhances resident convenience
- Key risks: below-median neighborhood occupancy, affordability pressure, and safety metrics