| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 328 NW 14th St, Gainesville, FL, 32603, US |
| Region / Metro | Gainesville |
| Year of Construction | 2009 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
328 NW 14th St Gainesville Multifamily Investment
Renter demand in Gainesville’s Urban Core supports a stable tenant base despite recent occupancy softening, according to CRE market data from WDSuite. A 2009 vintage positions this asset competitively versus older nearby stock.
The property sits in an A-rated Urban Core neighborhood that is competitive among Gainesville neighborhoods (ranked 16 of 114). Local amenity access skews toward daily needs and dining: neighborhood measures for grocery and pharmacy access perform well versus national peers, and restaurant density is in the top tier nationally, while park space and cafes are thinner. For investors, this mix supports day-to-day convenience and leasing appeal, especially for renters prioritizing walkable services and food options.
The neighborhood’s renter-occupied share is high, indicating a deep tenant pool for multifamily. At the same time, neighborhood occupancy has moderated in recent years; investors should underwrite to current leasing conditions but note that a large renter base can help sustain absorption and reduce downtime during turns.
Within a 3-mile radius, demographics show recent population and household growth with forecasts calling for further expansion and a shift toward more, smaller households by 2028. This trajectory points to a larger tenant base and incremental demand for rental units, which can support occupancy stability and leasing velocity as new cohorts enter the market. Based on commercial real estate analysis from WDSuite, local contract rents have increased and are projected to continue rising, reinforcing the case for steady income growth if affordability is managed.
Home values in the neighborhood sit within a high-cost ownership context relative to local incomes (value-to-income measures among the highest nationally). This tends to reinforce reliance on multifamily rentals and can support pricing power and retention, though it also warrants attention to rent-to-income ratios to manage renewal risk.
Vintage context: the area’s average construction year skews to the 1980s, while this asset’s 2009 delivery offers a newer profile. That generally improves competitive positioning against older stock and may reduce near-term systems risk, though investors should still plan for targeted modernization to meet current renter preferences.
Safety indicators are mixed. Within the Gainesville metro, the neighborhood’s crime rank sits in the safer half among 114 neighborhoods (above the metro median), while national percentiles suggest higher incident levels than typical U.S. neighborhoods. Recent year-over-year trends show improvement, with both violent and property offense rates declining, which investors can monitor as part of ongoing risk assessment and insurance/capex planning.
Practical takeaway: underwrite conservative operating assumptions for security and loss, incorporate trend improvement into monitoring rather than pro forma, and compare block-level conditions during on-site diligence to broader neighborhood patterns.
This 22‑unit asset combines Urban Core convenience with a renter-dense neighborhood and a 2009 vintage that competes well against older 1980s-era stock. Population and household growth within a 3‑mile radius, along with forecasts for continued renter pool expansion, support demand durability and lease-up efficiency. According to CRE market data from WDSuite, neighborhood rents have been rising and are projected to continue advancing, while high ownership costs relative to incomes reinforce reliance on multifamily housing.
Key considerations include moderating neighborhood occupancy, elevated rent-to-income ratios that call for careful lease management, and safety metrics that are weaker versus national benchmarks but improving year over year. With disciplined operations and targeted upgrades, the asset’s location and renter depth provide a credible path to stable cash flow.
- Urban Core location with strong dining and daily-needs access supports leasing appeal
- High neighborhood renter-occupied share indicates a deep tenant base and demand resilience
- 2009 vintage offers competitive positioning versus older nearby stock with selective value-add potential
- 3-mile population and household growth, with forecasts for further expansion, support occupancy stability and rent growth
- Risks: softer neighborhood occupancy, affordability pressure (rent-to-income), and below-average national safety profile