| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 54th | Good |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2560 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 |
2560 SW 31st Pl Gainesville Multifamily Investment
Renter demand is supported by a high concentration of renter-occupied units and strong neighborhood amenities, while occupancy trends suggest active management and potential value-add upside, according to WDSuite’s CRE market data.
Located in Gainesville’s inner suburb fabric, the property benefits from a neighborhood rated A and ranked 11 out of 114 in the metro—competitive among Gainesville neighborhoods. Amenity access is a relative strength: cafe and grocery densities sit in the top quartile nationally, reinforcing daily convenience and supporting leasing appeal for a renter-heavy area.
The submarket skews heavily renter-occupied at the neighborhood level, indicating a deep tenant base for multifamily owners. At the same time, the neighborhood occupancy rate trends below many metro peers, which points to a need for rigorous leasing strategy and potential renovation or repositioning to capture demand. Vintage stock in the area averages mid-1990s; with this asset built in 1989, investors should underwrite for targeted capital improvements that can sharpen competitive positioning.
Within a 3-mile radius, demographics reflect a large 18–34 population share and growth in households over the last five years—signals of renter pool expansion that can support occupancy stability when paired with the area’s amenity density. Forward-looking projections within the same radius indicate continued increases in population and households, which should sustain tenant demand over the medium term.
Home values in the neighborhood sit below many U.S. areas, which can introduce some competition from ownership options. Still, mid-market rents and rising incomes in the 3-mile area suggest room for thoughtful rent management. Where rent-to-income ratios run higher in the neighborhood, owners should prioritize retention tactics and renewal discipline to balance pricing power with affordability pressure.
Safety indicators are mixed relative to the region and nation. The neighborhood’s crime rank sits below the metro median (ranked 73 out of 114), indicating higher reported incidents than many Gainesville areas. Nationally, the neighborhood falls in lower safety percentiles, so investors should plan for standard security measures and community engagement to support resident satisfaction and retention.
Recent trends are nuanced: estimates show property offenses declining modestly year over year, while violent offense estimates ticked up over the same period. These directional shifts warrant ongoing monitoring as part of asset management, but they do not preclude performance when combined with strong on-site operations and amenity-driven demand.
This 100-unit asset built in 1989 aligns with a renter-driven neighborhood where amenity access is a relative strength and the 3-mile area shows household growth—factors that can deepen the tenant base. According to CRE market data from WDSuite, the neighborhood’s occupancy trend is softer than many metro peers, suggesting value-add and operational upside for owners who improve finishes, common areas, or services to outperform nearby 1990s-vintage stock.
Ownership costs in the immediate area are relatively accessible, which can create some competition with for-sale housing, yet sustained renter concentration and a large 18–34 cohort within a 3-mile radius underpin demand for well-positioned apartments. Prudent lease management is important where rent-to-income ratios run higher in the neighborhood; pairing targeted renovations with measured pricing can support retention while capturing market depth.
- Renter-heavy neighborhood and strong amenity access support depth of tenant demand.
- 1989 vintage presents value-add potential versus nearby mid-1990s stock.
- 3-mile population and household growth point to sustained leasing prospects.
- Active management can address below-metro neighborhood occupancy to drive NOI.
- Risks: relatively lower safety percentiles and ownership competition require careful pricing and resident retention strategies.