| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 56th | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3521 SW 31st Dr, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 1978 |
| Units | 100 |
| Transaction Date | 2000-04-25 |
| Transaction Price | $1,535,000 |
| Buyer | SERENOLA PINES APARTMENTS INC |
| Seller | --- |
3521 SW 31st Dr, Gainesville FL Multifamily Investment
Renter-occupied housing is a defining feature of the neighborhood, supporting a deep tenant base and steady leasing potential, according to WDSuite’s CRE market data. Occupancy has trended higher over five years, but execution still matters given submarket competition.
Located in Gainesville’s Urban Core, the neighborhood carries a B+ rating and skews heavily toward renter-occupied housing (competitive among 114 Gainesville neighborhoods; top quartile nationally for renter concentration). For multifamily owners, this depth of renter households typically supports leasing velocity and renewal prospects, though pricing should be calibrated to local income levels.
Rent levels are competitive among Gainesville neighborhoods and sit above many U.S. areas, while the neighborhood’s occupancy has risen over the past five years but remains below the metro median. That mix suggests stable demand with room to outperform through targeted asset management. Dining density is competitive within the metro, while other daily conveniences (grocery, pharmacy, parks) are thinner within the immediate neighborhood, making onsite amenities and transportation connectivity more influential for retention.
Demographic statistics aggregated within a 3-mile radius indicate population growth over the last five years alongside a sizable 18–34 cohort. Households also expanded, pointing to a larger tenant base and support for occupancy stability. Forward-looking projections call for additional population and household gains through 2028, with smaller average household sizes that can favor efficient floor plans and studio-oriented product.
Ownership costs in the area are comparatively accessible by national standards, which can introduce some competition from for-sale options. Even so, the neighborhood’s very high renter concentration and expanding household counts continue to reinforce multifamily demand and lease-up resiliency.
Relative to the Gainesville metro, the neighborhood’s crime rank sits below the median (ranked 64 out of 114 metro neighborhoods), indicating safety outcomes that trail stronger-performing areas. Nationally, it places in the lower third for safety.
That said, recent trends point in a constructive direction: estimated violent offense rates declined year over year, placing this improvement above many neighborhoods nationwide. For investors, this suggests monitoring remains prudent, but the directional trend is favorable compared with broader patterns.
Built in 1978, the asset may benefit from selective capital improvements and value-add upgrades to sharpen competitive positioning against younger stock (the neighborhood skews newer on average). The immediate area is renter-heavy with rising households and a large 18–34 population within a 3-mile radius—factors that expand the tenant pool and can support occupancy stability and renewal capture. According to CRE market data from WDSuite, neighborhood rents are competitive within the Gainesville metro while occupancy trends have improved, underscoring demand but also the need for disciplined leasing and amenity strategy.
Affordability remains a key management variable: incomes trail national norms and rent-to-income indicators signal potential pressure for some cohorts, so measured rent growth, unit finish differentiation, and operational focus on retention are likely to drive performance. Thinner nearby convenience retail elevates the value of onsite features and transportation access in supporting leasing outcomes.
- Renter-heavy neighborhood with growing 3-mile households supports a durable tenant base and leasing velocity.
- Competitive neighborhood rent positioning with improving occupancy trends offers room for operational upside.
- 1978 vintage presents value-add pathways to close the gap with newer supply and enhance retention.
- Thinner nearby conveniences make onsite amenities and access a lever for pricing power and renewals.
- Risk: Below-metro safety ranking and income sensitivity require careful underwriting and resident management.