| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 56th | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3440 SW 28th Ter, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1986 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3440 SW 28th Ter Gainesville Multifamily Opportunity
Positioned in an Urban Core pocket of Gainesville with a deep renter base, this 100-unit asset offers durable tenant demand and potential value-add upside, according to WDSuite’s CRE market data.
The property sits within an Urban Core neighborhood rated B+ and ranks 42 out of 114 Gainesville neighborhoods, indicating competitive positioning among metro peers for multifamily demand. Neighborhood occupancy is approximately 87% and has risen over the past five years, supporting near-term leasing stability relative to older submarkets, based on commercial real estate analysis from WDSuite.
Renter concentration is high at the neighborhood level and within the surrounding 3-mile radius, where 83.5% of housing units are renter-occupied. For investors, this depth of renter households points to a sizable tenant pool and steadier lease-up potential, though lease management should account for varying income bands typical of student- and service-oriented markets.
Local amenity density is mixed: restaurants rank 14 of 114 (competitive within the metro and around the 70th percentile nationally), while groceries, parks, pharmacies, and childcare rank at the bottom of the metro set (114 of 114). This suggests residents rely on a narrower set of nearby conveniences, which can modestly influence retention and transportation needs.
On affordability and pricing power, neighborhood median rents sit above the metro median (rank 19 of 114; 69th percentile nationally), while median household income trends lower (rank 94 of 114; 8th percentile nationally). Home values are relatively low versus national norms (rank 74 of 114; 29th percentile nationally). Together, this indicates a high-cost ownership market locally is not the primary constraint; instead, elevated rent-to-income ratios (rank 67 of 114; low national percentile) signal affordability pressure that owners should monitor for renewal risk and concession strategy.
Three-mile demographics show population growth of roughly 11% from the former period to 2023 and a projected increase to 2028, with households up about 17% and further expansion expected. This points to a larger tenant base and ongoing renter pool expansion that can support occupancy and absorption for well-positioned assets, per multifamily property research from WDSuite. School rating data are not available for this neighborhood set, so investors should underwrite education amenities at the submarket level if that factor is material to demand.
Safety indicators are mixed relative to Gainesville’s 114 neighborhoods and national benchmarks. The neighborhood’s crime standing is below national averages (around the lower third nationally), and its metro rank indicates it is slightly worse than the middle of the local pack. That said, recent data show a meaningful one-year improvement in violent offense rates (top third nationally for positive change), which investors can view as a constructive trend rather than a definitive shift.
Practically, this means underwriting should assume average-to-softer safety positioning within the metro while acknowledging near-term improvement. Properties with controlled access, lighting upgrades, and professional management policies often see better retention in similar contexts; however, conditions can vary block to block, so site-level assessment remains important.
Built in 1986, the property is older than the neighborhood’s average construction year (1993), creating potential value-add and capital planning opportunities to modernize interiors, systems, and common areas. Neighborhood occupancy near 87% and a very large renter base provide a foundation for leasing stability, though pricing should reflect rent-to-income sensitivity. According to CRE market data from WDSuite, the submarket supports above-metro median rents alongside lower household incomes, implying careful renewal management and a focus on features with clear renter utility.
Forward-looking demand drivers are favorable: within a 3-mile radius, population and households have grown and are projected to continue expanding through 2028, reinforcing a larger tenant base. Amenity density is restaurant-led, while other daily-needs options are thinner, suggesting retention strategies that emphasize on-site convenience and community features can be effective. Overall, the thesis favors an operational and renovation playbook balancing rent growth with affordability-aware asset management.
- Value-add potential: 1986 vintage versus a newer neighborhood average points to renovation and systems upgrades.
- Large renter base supports leasing: high renter-occupied housing share within 3 miles underpins demand depth.
- Occupancy stability: neighborhood occupancy has trended higher over five years, supporting consistent absorption.
- Operational focus: manage renewal strategy around rent-to-income sensitivity to sustain retention and pricing power.
- Risks: softer safety positioning within the metro and thinner daily-needs amenities warrant on-site convenience and security investments.