| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2540 SW 31st Pl, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1989 |
| Units | 100 |
| Transaction Date | 2020-11-11 |
| Transaction Price | $920,000 |
| Buyer | PHOENIX GAINESVILLE LLC |
| Seller | M & M OF ST CLOUD LLC |
2540 SW 31st Pl Gainesville Multifamily Value-Add
Renter demand is underpinned by a high renter-occupied housing share and strong amenity access in the neighborhood, according to WDSuite’s CRE market data, though occupancy trends warrant close monitoring.
This Inner Suburb neighborhood ranks 11 out of 114 metro neighborhoods with an overall A rating, supported by strong daily-needs access. Restaurant and grocery densities are competitive among Gainesville neighborhoods (ranks 5 and 3 of 114) and land in the top quartile nationally, which helps leasing velocity for workforce and student-oriented product. Cafes also score competitively in the metro (rank 2 of 114; top quartile nationally). Park access is limited, which places more weight on on-site amenities for resident satisfaction.
The median construction year in the neighborhood trends to the early 1990s, and this 1989 asset is slightly older than that average. That positioning often supports a value-add or modernization plan to sharpen curb appeal, refresh interiors, and address systems, helping the property compete against newer stock while maintaining a rent step-up path.
Neighborhood occupancy (measured for the neighborhood, not this property) sits below the metro median (rank 93 of 114) even as the renter-occupied share of housing units is among the highest in the metro (rank 5 of 114; top percentile nationally). For investors, that combination points to a deep tenant base but reinforces the need for active leasing management and differentiated product positioning.
Within a 3-mile radius, population and household counts have expanded and are projected to continue growing, indicating a larger tenant base ahead and supporting occupancy stability. The local household mix skews toward younger adults, which aligns with demand for smaller-format, well-located rentals. Median home values in the neighborhood track below national medians, which can create some competition from ownership options; however, rent-to-income dynamics suggest some affordability pressure for renters, making renewal strategies and pricing discipline important for retention.
Rent levels have trended upward over the past five years in the neighborhood, per WDSuite’s commercial real estate analysis, while incomes have also increased. Investors should underwrite to sustained demand from students and service-sector workers, with concessions, exposure management, and amenity upgrades used tactically to protect occupancy and optimize effective rents.
Safety metrics for the neighborhood are below national medians (higher national percentiles indicate safer conditions) and rank below the metro median (73 out of 114 neighborhoods). Recent trends are mixed, with property offenses easing year over year while violent offense indicators have edged higher. Investors typically address this with lighting, access control, and community engagement to support resident confidence and retention.
These figures reflect neighborhood-level patterns rather than conditions at the property itself. Compare against submarket peers when evaluating security line items and consider partnering with local law enforcement and service providers to monitor trend direction over time.
Key employers within commuting distance support leasing demand; representative examples appear below.
The 1989-vintage, 100-unit asset sits in a Gainesville neighborhood with strong amenity density and one of the metro’s highest renter-occupied housing shares. Based on CRE market data from WDSuite, neighborhood occupancy trends run below the metro median, which elevates the importance of asset-specific differentiation, proactive leasing, and operational execution. The vintage suggests clear value-add potential through targeted interior and systems upgrades to compete effectively with early-1990s and newer product nearby.
Within a 3-mile radius, population and households have expanded and are projected to keep growing, pointing to renter pool expansion and support for long-run demand. While home values are comparatively accessible in this neighborhood, which can increase competition from ownership, rent-to-income dynamics indicate the need for thoughtful pricing and renewal strategies to sustain retention.
- High renter-occupied housing share in the neighborhood supports a deep tenant base and leasing momentum.
- Strong grocery, restaurant, and cafe access helps occupancy and renewal potential for well-amenitized product.
- 1989 vintage offers value-add and systems modernization opportunities to enhance competitive positioning.
- Risks: below-metro neighborhood occupancy and affordability pressures call for disciplined pricing, targeted concessions, and focused resident retention.