| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 59th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3500 Windmeadows Blvd, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1972 |
| Units | 100 |
| Transaction Date | 1991-10-01 |
| Transaction Price | $2,235,300 |
| Buyer | SPANISH TRACE APT LTD PTNR |
| Seller | COLLIER NATHAN S |
3500 Windmeadows Blvd Gainesville Multifamily Investment Thesis
Neighborhood data points to durable renter demand with a high renter-occupied share, while occupancy trends sit below the metro median, according to WDSuite’s CRE market data. For investors, that combination suggests consistent leasing velocity with some management focus needed on retention and pricing discipline.
Situated in Gainesville’s inner suburb cluster, the property benefits from a neighborhood that ranks competitive among Gainesville neighborhoods for amenities (top quartile among 114 metro neighborhoods) and strong daily-needs access. Cafe and grocery density both sit near the top of the metro and in the mid‑90s percentiles nationally, supporting convenience that helps leasing and retention, based on CRE market data from WDSuite.
Renter-occupied share in the neighborhood is very high relative to national benchmarks (top national percentile), indicating a deep tenant base for multifamily. At the same time, neighborhood occupancy trends track below national averages and below the metro median, so underwriting should emphasize leasing management and renewal strategy rather than assuming full stabilization without effort.
The average construction year across nearby properties is 1995, while this asset was built in 1972. The older vintage points to potential value‑add and capital planning needs (exteriors, common areas, and systems) but also the opportunity to reposition against a slightly newer competitive set.
Within a 3‑mile radius, demographics show population growth since the prior period and a sizable increase in households, with further gains forecast by 2028. A large 18–34 cohort anchors the local renter pool, and educational attainment trends (around the 75th percentile nationally for bachelor’s share) support steady demand for well‑located units. Median neighborhood rents track near the national midpoint, while local household incomes are lower relative to national norms; investors should calibrate rents to manage affordability pressure and sustain lease retention.
Home values in the neighborhood are lower than many U.S. areas, yet the value‑to‑income ratio sits high versus national peers, indicating a high‑cost ownership market relative to local incomes. That context tends to reinforce reliance on rental housing and can support occupancy stability, though it heightens the importance of thoughtful rent‑to‑income management.
Safety indicators for the neighborhood compare below national averages, with rankings sitting around the metro middle among 114 Gainesville neighborhoods. While recent data shows year‑over‑year declines in both property and violent offenses, investors should underwrite with conservative assumptions, focus on site security and lighting, and monitor trends over time rather than relying on short‑term improvements.
Nationally, the neighborhood’s safety profile falls below the median, but the pace of recent improvement has been better than many areas nationwide. Framing and tenant communication around on‑site measures can help support leasing and retention in this context.
3500 Windmeadows Blvd combines a high renter concentration and strong amenity access with a vintage that lends itself to targeted value‑add. According to CRE market data from WDSuite, neighborhood occupancy trends are below the metro median, but the local renter base is deep and supported by a large 18–34 population within a 3‑mile radius. This dynamic points to steady demand with an emphasis on hands‑on leasing, renewals, and product differentiation.
Built in 1972, the asset is older than the neighborhood average (1995), suggesting capital planning for modernization can enhance competitive positioning against slightly newer stock. Household counts within 3 miles have risen meaningfully and are projected to continue growing, expanding the tenant base. Balanced against this tailwind, affordability pressure and safety perceptions warrant conservative rent setting, retention initiatives, and visible on‑site management.
- Deep renter-occupied base supports demand; hands-on leasing can sustain occupancy
- Strong amenity access (cafes, groceries, parks) aids retention and rentability
- 1972 vintage offers value‑add and repositioning potential versus a newer peer set
- 3‑mile household growth expands the tenant pool, supporting long‑term leasing fundamentals
- Risks: below‑median neighborhood occupancy, affordability pressure, and safety perceptions require prudent underwriting and active management