| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Poor |
| Demographics | 16th | Poor |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4203 NE 2nd Way, Gainesville, FL, 32609, US |
| Region / Metro | Gainesville |
| Year of Construction | 1984 |
| Units | 100 |
| Transaction Date | 2018-07-25 |
| Transaction Price | $1,375,000 |
| Buyer | PMF GAINESVILLE IV LLC |
| Seller | GAINESVILLE ONE LLC |
4203 NE 2nd Way Gainesville FL Multifamily Investment
Neighborhood renter demand appears durable relative to ownership options, according to WDSuite s CRE market data, supporting steady leasing fundamentals with careful pricing. Occupancy in the immediate area has improved over the past five years, though it still trails stronger Gainesville submarkets.
This location sits on Gainesville 19s northeast side with limited retail and service density nearby; cafes, restaurants, parks, and pharmacies are sparse, while grocery access is present but not concentrated. That amenity profile suggests a value-oriented renter base and reinforces the need for on-site convenience and property-level services to support retention.
Within a 3-mile radius, population and household counts have risen in recent years and are projected to continue growing, pointing to a larger tenant base and supporting occupancy stability. Renter-occupied housing accounts for just over half of units in this 3-mile area, indicating meaningful depth for multifamily leasing. Based on multifamily property research from WDSuite, neighborhood occupancy has trended up but remains below the metro median, so competitive positioning and operations will matter.
Rent levels in the neighborhood have climbed materially over five years, while incomes in the 3-mile radius have also advanced, creating a mixed picture for affordability and renewal management. Ownership costs in the immediate neighborhood appear relatively accessible compared with high-cost Florida metros, which can create competition with entry-level ownership; differentiating through unit finishes, property management, and convenience features can help sustain pricing power.
The asset 19s rural-classified neighborhood scores in amenities and overall rating trail Gainesville 19s stronger clusters, yet demographic momentum in the broader 3-mile radius and a sizable renter concentration offer a foundation for stable tenant demand when paired with disciplined expense control and targeted upgrades.
Safety outcomes in this neighborhood track below both national and Gainesville medians, indicating investors should underwrite prudent security measures and tenant-screening practices. However, WDSuite s CRE market data shows notable year-over-year declines in both violent and property offense estimates, signaling an improving trend that can support resident retention if sustained.
Compared with other Gainesville neighborhoods (114 total), this area sits below the metro median for safety, but the downward trajectory in estimated offenses suggests conditions have been moving in a favorable direction. Framing this comparatively rather than block-level is appropriate for underwriting and asset-management planning.
Positioned in a value-oriented pocket of Gainesville, the property benefits from a renter base supported by growing households within a 3-mile radius and a renter-occupied share that modestly exceeds owners. Neighborhood occupancy has improved in recent years, and, according to CRE market data from WDSuite, rent growth has been strong locally underscoring demand but requiring attentive affordability and renewal strategies.
Amenity scarcity in the immediate area places a premium on property operations and on-site offerings, while comparatively accessible ownership options nearby present competitive tension at the lower price bands. The long-term case rests on steady renter demand, continued population growth in the surrounding radius, and targeted value-add to enhance leasing velocity and retention.
- Renter pool expansion within 3 miles supports depth of demand and occupancy stability.
- Strong local rent momentum points to pricing power with careful affordability management.
- Value-oriented submarket; on-site services and finishes can differentiate against ownership alternatives.
- Improving safety trend; plan for prudent security and screening to reinforce retention.
- Risk: Amenity-light surroundings and below-median neighborhood safety require disciplined operations and targeted capital.