| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2520 SW 31st Pl, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1985 |
| Units | 100 |
| Transaction Date | 2010-08-30 |
| Transaction Price | $1,121,100 |
| Buyer | CASTILLO ENTERPRISES LLC |
| Seller | CASTILLO RICARDO |
2520 SW 31st Pl Gainesville Multifamily Investment
Renter demand is supported by a high renter-occupied housing base and strong neighborhood amenities, according to WDSuite’s CRE market data. Within a 3-mile radius, rising household counts signal a deeper tenant pool, aiding leasing stability even as pricing power should be managed carefully.
This Inner Suburb neighborhood rates highly within the Gainesville metro (A overall; ranked 11 of 114), indicating competitive fundamentals for investors. Amenity access is a strength: café density ranks 2 of 114, grocery 3 of 114, and restaurants 5 of 114 locally, placing the area among the metro’s more convenience-rich locations. These features help support day-to-day livability and can bolster leasing velocity and resident retention.
The neighborhood skews heavily renter-occupied (76.7% of housing units), suggesting a sizable tenant base for multifamily. At the broader 3-mile view, households have increased meaningfully over the last five years and are projected to keep expanding, pointing to continued renter pool expansion that can support occupancy stability. Neighborhood occupancy is around 81% and has trended up modestly over five years, which underscores the importance of active leasing and renewals to maintain performance versus metro peers.
The property’s 1985 vintage is older than the neighborhood’s average construction year (1994), which implies potential value-add and capital planning needs. Targeted upgrades to interiors, common areas, or building systems can improve competitive positioning against newer stock while addressing long-term maintenance.
Ownership costs in the neighborhood track lower than many U.S. areas, but rent-to-income ratios indicate some affordability pressure. For investors, this mix suggests depth in the rental market alongside the need for disciplined rent management to sustain retention and steady collections. Based on multifamily property research from WDSuite, the combination of amenity density, renter concentration, and household growth supports a durable demand thesis relative to regional options.
Safety trends should be assessed with a metro-relative lens. The neighborhood’s crime rank is 73 out of 114 Gainesville neighborhoods, indicating it trails the metro average on safety. In national terms, violent and property crime percentiles are low, placing the area below many U.S. neighborhoods for safety. Recent movement is mixed: property offenses show a modest year-over-year decline, while violent offenses ticked up, reinforcing the need for standard operational measures such as lighting, access control, and active management.
Investors typically account for these dynamics through security-focused CapEx and resident-engagement practices, which can support retention and protect NOI. As always, review current incident trends, asset-specific history, and any recent community initiatives to gauge trajectory relative to Gainesville and national benchmarks.
This 100-unit asset in Gainesville sits in a convenience-rich Inner Suburb with a large renter base and improving household trends within a 3-mile radius. Amenity density (cafés, groceries, dining) ranks near the top of the metro, a practical driver for leasing velocity and renewals. According to CRE market data from WDSuite, neighborhood occupancy has improved in recent years, though levels remain below the strongest Gainesville submarkets—favoring hands-on management to capture upside from ongoing renter pool expansion.
Built in 1985, the property is older than the neighborhood average vintage, creating a clear value-add path via targeted renovations and building system updates to enhance competitive standing versus newer product. Affordability pressure, reflected in rent-to-income measures, suggests pricing decisions should emphasize retention and steady occupancy over aggressive increases. The area’s high renter concentration and projected growth in households support a durable long-term demand thesis.
- Convenience-rich location with top-tier local amenity access supporting leasing and retention
- Large renter-occupied housing base and expanding households within 3 miles deepen the tenant pool
- 1985 vintage offers value-add potential through targeted unit and systems upgrades
- Operate for occupancy stability; affordability pressure warrants disciplined rent management
- Risk: Safety metrics trail metro averages; consider security-focused CapEx and active management