| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 73rd | Best |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 401 NE 10th St, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 1972 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
401 NE 10th St Gainesville Multifamily Investment
Inner-suburb location with strong renter demand and mid-pack occupancy supports durable cash flow potential, according to WDSuite’s CRE market data. Nearby amenities and a high neighborhood rating point to steady tenant interest without relying on premium rent positioning.
The property sits in an Inner Suburb of Gainesville with an A+ neighborhood rating (ranked 1 out of 114 metro neighborhoods), indicating strong local fundamentals for multifamily. Amenity access is a clear strength: restaurants and cafes are dense by national standards, and parks rank in the top quartile nationally. Grocery options score well relative to most neighborhoods, though pharmacy availability is limited in the immediate area. These dynamics help drive daily convenience and lifestyle appeal that can aid leasing velocity and retention.
Neighborhood occupancy is near the metro median, pointing to generally stable absorption rather than late-cycle overheating. The share of renter-occupied housing units is above the metro median and high relative to neighborhoods nationwide, suggesting a deeper tenant base for multifamily operators. Median home values sit in a high-cost ownership context for many local renters, which can reinforce reliance on rental housing and support pricing discipline without forcing luxury positioning.
Within a 3-mile radius, demographics skew young adult, consistent with Gainesville’s university-driven economy. Recent population and household growth, alongside a projected increase in households, indicate a larger tenant base over time and support for occupancy stability. As incomes trend higher at the area level, rent-to-income remains manageable by national standards, which can help with lease retention and renewal strategies.
Vintage matters for underwriting. Built in 1972, the asset is older than much of today’s competitive stock, creating potential value-add levers through targeted renovations and building system updates. The neighborhood’s average construction year trends even older, which can help a renovated 1970s asset compete effectively against nearby properties while still requiring prudent capital planning.
Safety trends should be evaluated with a neighborhood lens rather than at the property level. Compared with neighborhoods nationwide, this area sits below the national safety median, and within the Gainesville metro it is not among the top-performing safety cohorts. That said, recent year-over-year data show improving trends in both property and violent offense categories, according to WDSuite’s CRE market data.
For investors, the takeaway is risk management rather than avoidance: align security measures and operating practices with neighborhood norms, monitor trend improvements, and underwrite to competitive positioning among Gainesville neighborhoods rather than expecting top-quartile safety performance immediately.
The submarket benefits from a broad institutional and healthcare employment base that supports renter demand and short commute patterns for a large portion of the workforce.
This 100-unit Gainesville asset pairs a top-ranked neighborhood setting with strong amenity density and a renter-heavy housing stock, supporting depth of demand and day-to-day livability. Neighborhood occupancy trends sit near the metro median, which favors stable lease-up and renewal dynamics over more volatile boom-bust patterns. Built in 1972, the property presents value-add and system-upgrade opportunities that can enhance competitive positioning against older local stock. According to CRE market data from WDSuite, national comparatives on amenities and renter concentration are supportive, while ownership costs in the area help sustain reliance on multifamily housing.
Forward-looking demographics aggregated within 3 miles point to a growing tenant base, with household expansion and income gains that support rent growth management and occupancy stability over the hold. Key risks include neighborhood safety that trails national medians and the capital planning needs typical of 1970s construction; both are manageable with proactive operations and targeted renovations.
- Top-ranked Gainesville neighborhood with strong amenity access supporting leasing and retention
- Renter-occupied share above metro median indicates depth of tenant demand
- 1972 vintage offers value-add and modernization upside versus older local stock
- 3-mile demographic growth and rising incomes support occupancy stability and rent management
- Risks: below-median safety and capex needs; mitigate via operations, security, and phased renovations