| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 47th | Good |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2841 SW 13th St, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1998 |
| Units | 100 |
| Transaction Date | 1997-09-18 |
| Transaction Price | $667,000 |
| Buyer | TIVOLI ASSOCIATES LTD OF GAIN |
| Seller | --- |
2841 SW 13th St Gainesville Multifamily Investment
Positioned in an Inner Suburb with a high renter concentration, the asset benefits from steady neighborhood occupancy and durable renter demand, according to WDSuite’s CRE market data. Investor attention centers on retention and leasing velocity supported by nearby daily-needs amenities.
This Inner Suburb neighborhood scores A- (ranked 19 among 114 in the Gainesville metro), placing it in the top quartile locally and competitive nationally for overall fundamentals. Daily-needs access is a strength: grocery and pharmacy availability rank near the top of the metro and trend above national medians, while restaurants are accessible. Parks, cafes, and childcare are less dense nearby, which tilts convenience toward essentials rather than lifestyle options.
Rents in the neighborhood sit in a mid-range with solid five-year growth, and neighborhood occupancy has improved over the past cycle, supporting leasing stability. The share of housing units that are renter-occupied is elevated (ranked among the highest locally and in a top national percentile), indicating a deep tenant base that can underpin demand for professionally managed multifamily. Home values are comparatively high for the area and, coupled with a high value-to-income ratio, indicate a high-cost ownership market that can sustain reliance on rental housing and support pricing power.
Within a 3-mile radius, demographics skew younger with a substantial 18–34 cohort, and both population and household counts have expanded over the last five years with additional growth projected. This trajectory points to renter pool expansion and a larger base of potential tenants, which can bolster occupancy durability. For investors, lease management should balance effective rents with local rent-to-income dynamics to promote retention.
Vintage is another consideration: the property was built in 1998, newer than the neighborhood’s average construction year. That positioning typically reduces near-term capital exposure versus older stock while remaining competitive against legacy assets; investors may still evaluate selective modernization to capture incremental rent premiums. Based on commercial real estate analysis from WDSuite, neighborhood NOI per unit levels rank near the top of the metro and track in the top quartile nationally, reinforcing operational potential in comparable assets.
Safety trends are mixed when viewed comparatively. The neighborhood sits roughly around the metro median among 114 Gainesville neighborhoods and below the national median for safety. Recent data show year-over-year declines in estimated property offenses and a modest improvement trend in violent offenses, according to WDSuite’s CRE market data, which investors can monitor as part of underwriting and resident-experience planning.
For risk management, prudent operators may emphasize lighting, access control, and community engagement, and align marketing with the neighborhood’s strengths in daily-needs access to support leasing and retention.
Built in 1998 with 100 units, 2841 SW 13th St aligns with Gainesville’s renter-driven Inner Suburb fundamentals. The neighborhood ranks in the top quartile locally, offers strong access to groceries, pharmacies, and restaurants, and has seen improving neighborhood occupancy alongside mid-range rents. Within a 3-mile radius, population and households have grown, and the large 18–34 cohort points to ongoing renter pool expansion that can support lease-up and retention. According to CRE market data from WDSuite, NOI per unit performance in the neighborhood is among the metro’s leaders and competitive nationally, underscoring operational potential in similarly positioned assets.
A high-cost ownership backdrop reinforces reliance on rental housing, which can translate to steady demand. Key watch items include the neighborhood’s below-national-median safety positioning, lighter access to parks and cafes, and the need to calibrate rents to local rent-to-income levels to preserve retention while pursuing growth.
- Top-quartile neighborhood standing and strong daily-needs access support leasing stability
- Younger 3-mile demographics and expanding households enhance the tenant funnel
- 1998 vintage offers competitive positioning versus older stock with selective value-add potential
- High-cost ownership market underpins demand and pricing power
- Risks: below-national-median safety, limited lifestyle amenities, and rent-to-income sensitivity require active management