| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 70th | Best |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3310 NW 91st St, Gainesville, FL, 32606, US |
| Region / Metro | Gainesville |
| Year of Construction | 1978 |
| Units | 100 |
| Transaction Date | 1996-03-14 |
| Transaction Price | $2,742,900 |
| Buyer | SANTA FE TRACE APTS LTD |
| Seller | HAUFLER ERNEST L |
3310 NW 91st St Gainesville Multifamily Investment
Neighborhood-level occupancy sits in the low 90s with a positive five-year trend, and renter concentration is high, according to WDSuite’s CRE market data, supporting depth of demand for a 100-unit asset. Affordability appears manageable for renters locally, which can aid retention and lease stability.
Located in Gainesville’s inner suburbs, the property benefits from a neighborhood rated A and ranked 7th among 114 metro neighborhoods, indicating competitive local fundamentals relative to the region. Amenity access is solid: cafes and restaurants rank 11th and 16th of 114, respectively, placing food-and-beverage density above the metro median and around the top quartile nationally for cafes. Pharmacies are also strong (8th of 114). A known drawback is limited park access (114th of 114), which may temper some lifestyle appeal.
For investors evaluating multifamily property research, the neighborhood’s housing dynamics are supportive. Approximately 63% of housing units in the neighborhood are renter-occupied, signaling a deep tenant base and steady leasing funnel for mid-scale assets. Neighborhood occupancy is around the low 90% range and has trended upward over the last five years, which supports revenue durability through cycles.
Within a 3-mile radius, households increased about 9% over five years while average household size decreased, expanding the renter pool even as population was flat. Forward-looking estimates point to further growth in households and incomes by 2028, which would enlarge the tenant base and help support occupancy stability. Median household income in the 3-mile area is strong relative to local rents, reinforcing the neighborhood’s potential to sustain rent levels without undue affordability pressure.
Home values in the neighborhood are moderate compared with many Florida metros, which can introduce some competition from ownership options; however, current rent-to-income ratios are reasonable and the high renter-occupied share suggests multifamily remains a preferred housing solution locally. For a 1978-vintage asset, this creates room to compete on renovated interiors and property operations versus older stock while planning for selective capital improvements.
Safety indicators are mixed and should be underwritten conservatively. The neighborhood’s overall crime rank is 48th out of 114 Gainesville metro neighborhoods, indicating it sits below the metro average for safety. Nationally, safety percentiles are lower than typical, but recent trends show improvement, with estimated violent and property offense rates declining year over year. Investors may view the downward trajectory as constructive while still aligning security, lighting, and resident engagement plans to local conditions.
This 100-unit, 1978-vintage property aligns with a renter-heavy Gainesville neighborhood where occupancy has held in the low 90s and trended upward, supporting income stability through cycles. Based on commercial real estate analysis from WDSuite, the local renter-occupied share is high and household counts within 3 miles have expanded, pointing to a larger tenant base and continued leasing depth. Moderate home values and manageable rent-to-income levels further support retention and pricing discipline.
Vintage creates a clear value-add path: interiors, common areas, and building systems can be upgraded to differentiate versus older comparables and capture demand in a neighborhood with solid amenity access but limited park space. While safety metrics trail metro leaders, recent declines in estimated offense rates are encouraging; underwriting should incorporate prudent security measures and market-appropriate concessions where needed.
- Renter-heavy neighborhood and stable low-90s occupancy support leasing durability.
- 1978 vintage offers value-add potential through targeted renovations and system upgrades.
- Household and income growth within 3 miles expand the tenant base and support rent levels.
- Amenity access for dining, cafes, and pharmacies enhances livability versus limited park access.
- Risk: Safety indicators are below metro leaders; plan for security and conservative underwriting.