| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 56th | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3316 SW 41st Pl, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1977 |
| Units | 100 |
| Transaction Date | 1992-12-30 |
| Transaction Price | $567,400 |
| Buyer | LIMIT |
| Seller | --- |
3316 SW 41st Pl, Gainesville FL Multifamily Investment
Stabilizing renter demand and a high renter-occupied share in the surrounding neighborhood point to a deep tenant base, according to WDSuite’s CRE market data, with potential to enhance performance through targeted asset improvements.
The property sits in an Urban Core neighborhood rated B+ and ranked 42 out of 114 within the Gainesville metro—competitive among Gainesville neighborhoods. Neighborhood occupancy trends have strengthened over the past five years, supporting a more stable leasing backdrop even if current occupancy levels trail stronger subareas.
Renter-occupied housing accounts for a large share of units locally (neighborhood measure), indicating a sizable multifamily tenant pool and consistent leasing velocity for smaller-format units. Median asking rents in the neighborhood benchmark above many peers in the metro while sitting mid-to-upper tier nationally, suggesting pricing power where unit quality and management execution support it.
Demographic statistics within a 3-mile radius show modest population growth in recent years and a very large 18–34 cohort, which can sustain demand for efficient floorplans and value-oriented amenities. Projections point to continued population and household growth, implying a larger renter pool and support for occupancy stability; smaller projected household sizes further align with studios and one-bedrooms.
Local amenity density is mixed: neighborhood data indicate limited grocery, park, and pharmacy presence, but dining options score relatively better versus national peers. Home values benchmark below national averages, which can create some competition from ownership; however, elevated rent-to-income ratios in the neighborhood highlight affordability pressure that warrants active lease management and renewal strategies.
Vintage and positioning: Built in 1977, the asset is older than the neighborhood’s average construction year (1993). That age profile points to clear value-add and capital planning levers—mechanicals, interiors, and curb appeal investments—to defend occupancy and justify rents relative to newer stock.
Neighborhood safety benchmarks below national norms (crime metrics rank in the lower half among 114 Gainesville neighborhoods and sit in lower national percentiles), so investors should underwrite to perception and security improvements. Recent data show year-over-year declines in violent incidents and a slight downtick in property offenses, indicating incremental improvement rather than a fully resolved risk.
Practical mitigants may include lighting, access control, and resident engagement programs, paired with market-appropriate screening and insurance assumptions. Use conservative loss projections and monitor trendlines at the neighborhood level rather than block-by-block conclusions.
This 100‑unit 1977 vintage property offers a clear value‑add path in a renter-heavy Gainesville neighborhood where occupancy has trended upward and the 18–34 renter pool is substantial. Based on CRE market data from WDSuite, neighborhood rents position above many metro peers while overall amenity depth is uneven—an opening for targeted upgrades and service quality to capture and retain demand.
Forward-looking 3‑mile demographics indicate population and household growth with smaller household sizes, aligning with efficient floorplans and supporting lease-up resiliency. Investors should balance this with affordability pressure (higher rent-to-income ratios at the neighborhood level), below-average safety benchmarks, and limited essential amenities, underwriting to operational discipline and selective capital improvements.
- Large renter-occupied share and improving neighborhood occupancy support demand depth and leasing stability.
- 1977 vintage enables value-add upgrades (systems, interiors, curb appeal) to compete with newer stock.
- 3-mile growth outlook and a strong 18–34 cohort expand the tenant base for smaller-format units.
- Neighborhood rents benchmark well versus metro, with potential to translate upgrades into pricing power.
- Risks: affordability pressure, below-average safety benchmarks, and limited essential amenities require conservative underwriting and active management.