| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 65th | Best |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2155 NW 10th St, Gainesville, FL, 32609, US |
| Region / Metro | Gainesville |
| Year of Construction | 2009 |
| Units | 100 |
| Transaction Date | 2006-02-08 |
| Transaction Price | $160,000 |
| Buyer | VENUS USA LLC |
| Seller | HOLLY PLACE LLC |
2155 NW 10th St Gainesville Multifamily Investment
Neighborhood renter-occupied share is high, supporting a deeper tenant base and steady leasing, according to WDSuite’s CRE market data. Amenity access is strong nearby, which helps demand durability even as local occupancy trends normalize at the neighborhood level.
Located in Gainesville’s inner suburbs, the area surrounding 2155 NW 10th St rates highly for daily conveniences. Amenity access ranks competitive among Gainesville neighborhoods (2 of 114), and sits in the top quartile nationally, driven by strong proximity to groceries, pharmacies, parks, and restaurants. Café density is thinner, but overall day-to-day services are well covered.
This is a renter-heavy neighborhood: the share of housing units that are renter-occupied is elevated, indicating a larger tenant pool and potential for more predictable absorption across cycles. Neighborhood occupancy has trended upward over the past five years, which supports leasing stability for multifamily operators screening comps in this submarket.
Within a 3-mile radius, demographics point to a growing renter base. Population and households have expanded in recent years with further gains forecast, suggesting continued renter pool expansion and support for occupancy stability. Household sizes have fluctuated modestly, and the large share of adults in the 18–34 range in the 3-mile area reinforces demand for professionally managed rentals.
Homeownership remains a higher-cost proposition relative to local incomes in this neighborhood compared to many U.S. areas, which tends to reinforce reliance on rental options and can aid lease retention. At the same time, rent-to-income levels remain manageable, offering investors a buffer on pricing power without overextending affordability.
The asset’s 2009 construction is newer than the neighborhood’s older average stock from the 1970s, providing competitive positioning against legacy properties. Investors should still plan for targeted system updates and modernization to keep the property aligned with current renter expectations while capturing value relative to older comparables.
Safety conditions in the neighborhood are below national averages, with both violent and property offense measures sitting in lower national percentiles compared to U.S. neighborhoods overall. Recent year-over-year estimates indicate declines in both violent and property offenses, signaling an improving trend. Investors should incorporate prudent security measures and underwriting cushions consistent with submarkets that are not among the metro’s safest, while recognizing the directionality of recent improvements.
The 100-unit, 2009-vintage property benefits from a renter-heavy neighborhood, strong amenity access, and a 3-mile trade area with growing population and households—all supportive of durable multifamily demand. The building’s newer vintage versus much of the surrounding 1970s-era stock enhances competitive positioning, with targeted modernization offering additional value-capture. According to CRE market data from WDSuite, neighborhood occupancy has edged higher over the past five years, while rent-to-income appears manageable and ownership costs comparatively elevated—factors that can support retention and steady absorption.
Key considerations include underwriting for local safety variability and monitoring neighborhood-level occupancy and pricing momentum relative to the broader Gainesville metro. Overall, the combination of tenant-base depth, location fundamentals, and vintage advantage creates a balanced long-term case for stable operations with selective value-add upside.
- Renter-heavy neighborhood supports a deeper tenant base and steadier leasing
- 2009 construction competes well against older local stock with selective upgrade potential
- Strong access to groceries, parks, pharmacies, and restaurants enhances livability and retention
- 3-mile trade area growth points to ongoing renter pool expansion and occupancy support
- Risk: below-average safety metrics warrant prudent security planning and conservative underwriting