| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 59th | Good |
| Amenities | 75th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4023 SW 16th Ln, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1980 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4023 SW 16th Ln Gainesville Multifamily Investment
Renter demand is supported by a high neighborhood renter-occupied share and dense daily-needs amenities, according to WDSuite’s CRE market data. For investors, this points to steady leasing potential with room for selective value-add to enhance positioning.
Situated in Gainesville’s inner-suburb fabric, the neighborhood carries an A+ rating and ranks 2 out of 114 metro neighborhoods, signaling a top-tier location within the metro for everyday convenience and renter appeal. The area’s renter-occupied share is elevated, indicating a deep tenant base that can support occupancy stability for multifamily assets.
Amenity access is a clear strength. Grocery and restaurant density are competitive among Gainesville neighborhoods (both near the top of the metro) and sit in the mid-90s national percentiles, with cafés similarly strong. Parks and pharmacies also benchmark above national norms. For multifamily operations, this concentration of daily services can bolster retention and reduce leasing friction.
Neighborhood income performance indicators are favorable: average NOI per unit benchmarks near the top of the metro (ranked 3 out of 114) and in a high national percentile, per WDSuite’s CRE market data. At the same time, overall neighborhood occupancy is in a mid-range band, reinforcing the importance of competitive finishes, responsive management, and pricing discipline to capture demand.
Vintage considerations matter: the property was built in 1980, while the area’s average construction year trends newer (mid‑1990s). This older vintage can translate into value‑add opportunity through targeted renovations and systems upgrades to sharpen competitive positioning against newer stock and support rent trade‑outs over time.
Demographic statistics are aggregated within a 3‑mile radius. Households have grown in recent years and are projected to expand further by 2028 as average household size trends lower, which typically broadens the renter pool and supports occupancy stability. Median contract rents have risen and are projected to continue increasing, suggesting sustained pricing power for well‑maintained, well‑located assets.
On the ownership side, value‑to‑income ratios are elevated versus national norms, which can reinforce reliance on rental options despite comparatively modest median home values locally. For investors, this dynamic often supports depth of demand, while also warranting attention to rent-to-income thresholds and lease management to mitigate retention risk.
Safety metrics benchmark below the national median, indicating crime rates higher than many neighborhoods nationwide. However, recent trend data show year‑over‑year declines in both violent and property offenses, signaling incremental improvement. Investors should incorporate prudent security and lighting standards as part of capital planning and operations.
Within the Gainesville metro context, conditions vary by neighborhood; this area tracks closer to the middle of the pack rather than the top tier. Balanced underwriting that accounts for the improving trend and appropriate on‑site measures can help support tenant retention and asset performance over time.
This 100‑unit 1980 vintage asset sits in one of Gainesville’s strongest amenity nodes, with grocery, restaurant, and café density benchmarking near the top locally and in high national percentiles. The surrounding neighborhood shows a high renter concentration and solid NOI positioning within the metro, while overall occupancy levels suggest that competitive finishes and proactive management are key to capturing demand. Demographic statistics within a 3‑mile radius indicate rising household counts and a projected expansion of the renter pool, supporting leasing stability. According to CRE market data from WDSuite, rents in the area have trended upward and are projected to continue, favoring well‑located assets.
The property’s older vintage relative to nearby stock points to a clear value‑add path: targeted interior upgrades, common‑area refreshes, and systems modernization can enhance competitiveness versus 1990s‑era peers. Elevated value‑to‑income ratios locally tend to sustain reliance on rental housing, though higher rent‑to‑income levels warrant attention to pricing strategy and resident retention. A measured plan that pairs renovations with disciplined leasing and safety-focused operations can position the asset for durable performance.
- High renter concentration and strong daily‑needs amenities support demand depth and retention
- Value‑add upside from 1980 vintage relative to newer neighborhood stock
- Household growth within 3 miles and rent momentum underpin leasing stability
- Risks: below‑median safety metrics and rent‑to‑income pressure require disciplined pricing, security, and operations