| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 56th | Good |
| Amenities | 12th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4203 SW 31st Dr, Gainesville, FL, 32608, US |
| Region / Metro | Gainesville |
| Year of Construction | 2005 |
| Units | 100 |
| Transaction Date | 2015-03-13 |
| Transaction Price | $1,100,000 |
| Buyer | BLOCK THOMAS H |
| Seller | BELLA PROPERTIES 34 LLC |
4203 SW 31st Dr Gainesville 100-Unit Multifamily
High renter concentration in the surrounding neighborhood and steady neighborhood occupancy trends suggest durable tenant demand, according to WDSuite s CRE market data. Expect leasing supported by urban-core dynamics, while monitoring affordability and amenity access that can influence retention.
The property sits in an Urban Core pocket of Gainesville with a B+ neighborhood rating (ranked 42 of 114 metro neighborhoods), where renter-occupied housing is prevalent. The neighborhood s renter concentration is high (76% of units renter-occupied), which generally supports a deeper tenant base and consistent leasing for multifamily assets. Neighborhood occupancy has trended upward over the last five years, though current levels remain below national norms a signal to underwrite stable but not peak utilization.
Amenity access within the immediate neighborhood is mixed: restaurant density is competitive locally, while everyday retail like groceries, pharmacies, parks, and cafes is thinner, implying residents may rely on short drives for errands. For investors, this can shape marketing and retention tactics, with value-add opportunities around convenience services and on-site offerings to compensate for lighter neighborhood retail.
Within a 3-mile radius, demographics skew young (a large 18 3 cohort) with modest population growth in recent years and projections for further expansion in households. This points to a growing renter pool over the medium term, which can support occupancy stability and lease-up velocity for well-positioned properties.
Home values in the neighborhood are on the lower end for Florida metros, while neighborhood median contract rents sit around the middle of local ranges. This mix tends to reinforce reliance on multifamily housing and can support pricing power for well-managed communities, though operators should calibrate rent growth to local rent-to-income dynamics to protect retention.
Safety trends are mixed relative to broader benchmarks. The neighborhood s crime rank is 64 out of 114 Gainesville metro neighborhoods, indicating it trails the metro median for safety. Nationally, the area sits in lower percentiles for both property and violent offenses, so prudent security measures and resident engagement remain relevant operational considerations.
Recent momentum is more favorable: violent offense rates have declined year over year, and property offenses are roughly flat. For investors, this trajectory suggests conditions are not static and supports a risk-managed approach enhanced lighting, access control, and community programming that can aid resident satisfaction and retention without assuming outsized capital outlays.
Built in 2005, the asset is newer than the neighborhood s average vintage, providing a competitive edge versus older stock while still offering potential value-add through systems updates and contemporary finishes. High renter concentration in the neighborhood supports demand depth, and a young 3-mile renter pool points to continued leasing momentum. According to commercial real estate analysis from WDSuite, neighborhood occupancy has improved over the past five years, though it remains below national benchmarks a cue to focus on operations, service quality, and targeted amenities to sustain absorption and renewal rates.
Ownership costs nearby are relatively accessible compared with many Florida markets, which can temper pricing power; however, local rent levels and a predominantly renter-occupied housing mix indicate multifamily remains a primary housing solution. Underwriting should account for rent-to-income considerations, amenity-light blocks, and prudent security planning, while positioning the property through unit upgrades and resident experience to capture steady demand from the area s sizable 18 3 population.
- 2005 vintage offers competitive positioning versus older neighborhood stock with clear upgrade pathways
- High neighborhood renter concentration supports a deep tenant base and leasing stability
- 3-mile demographics skew young with growing households, reinforcing multifamily demand
- Operational upside from targeted amenities and resident services in an amenity-light micro-location
- Risks: below-national neighborhood occupancy, rent-to-income pressure, and safety monitoring require disciplined management