| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Good |
| Demographics | 45th | Fair |
| Amenities | 22nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 422 SW 69th St, Gainesville, FL, 32607, US |
| Region / Metro | Gainesville |
| Year of Construction | 1984 |
| Units | 100 |
| Transaction Date | 2016-11-28 |
| Transaction Price | $195,000 |
| Buyer | SEN CAPITAL LLC |
| Seller | GREEN BAY LLC |
422 SW 69th St Gainesville Multifamily Investment Opportunity
Stabilizing renter demand in an inner-suburban Gainesville pocket supports long-term income potential, according to WDSuite’s CRE market data. Neighborhood-level occupancy has trended higher in recent years, indicating steadier leasing conditions than earlier in the cycle.
This inner-suburban Gainesville neighborhood carries a B rating and ranks 51 out of 114 metro neighborhoods, placing it around the metro median. Renter-occupied housing is prevalent (70.6% renter concentration; 97th percentile nationally), which points to a deep tenant base and durable multifamily demand. Neighborhood occupancy sits in the mid-80s and has improved over the past five years, supporting more predictable leasing and renewals.
Livability is mixed: pharmacies are relatively accessible (around the 80th percentile nationally), but cafes, groceries, and parks are limited within immediate proximity, suggesting residents likely rely on broader Gainesville retail corridors. For investors, this typically favors value-oriented workforce housing over lifestyle-driven positioning. Average school ratings are not available for this neighborhood; investors should underwrite based on broader district norms rather than property-specific assumptions.
Rents in the neighborhood are mid-market for Gainesville and have risen meaningfully over the past five years, while the median rent-to-income ratio near 0.29 warrants attention to affordability pressure and proactive lease management. Median home values are modest relative to many U.S. markets, which can introduce some competition from entry-level ownership; however, this also supports consistent renter reliance on multifamily where mobility and upfront costs are lower.
Within a 3-mile radius, demographic statistics show a small population decline in the last period alongside growth in household count, indicating smaller household sizes and sustained rental propensity. Forward-looking projections point to population growth and a substantial increase in households, which would expand the renter pool and support occupancy stability. Construction vintage in this neighborhood averages early 1980s; with a 1984 build, the asset is slightly newer than the local average, suggesting competitive positioning versus older stock while still warranting capital planning for aging systems or targeted value-add.
Safety indicators for the neighborhood trail both national and metro benchmarks. The area ranks 68 out of 114 Gainesville metro neighborhoods for overall crime (below metro median) and falls into lower national percentiles for both violent and property offenses. Recent trends show year-over-year declines in estimated violent and property offense rates, which is a constructive signal, but investors should still underwrite with prudent security, lighting, and monitoring assumptions and compare performance against competitive submarkets.
Constructed in 1984 with 100 units, the property aligns with an inner-suburban renter base where neighborhood occupancy has improved and renter concentration is high. According to CRE market data from WDSuite, rents and occupancy in this part of Gainesville reflect stable workforce demand, while modest home values may create some competition with ownership, reinforcing the need for value-driven positioning and disciplined renewals.
Demographic statistics within a 3-mile radius indicate growing household counts and forecast population growth, pointing to a larger tenant base over the next several years. The vintage provides a platform for targeted renovations and systems upgrades to enhance competitiveness versus older stock, while attention to rent-to-income levels and local safety trends remains important for leasing and retention management.
- High renter concentration supports multifamily demand depth and renewal stability.
- Improving neighborhood occupancy and mid-market rents align with steady leasing fundamentals.
- 1984 vintage offers value-add and capital planning levers to strengthen competitive positioning.
- 3-mile projections show population and household growth that can expand the renter pool.
- Risks: below-average safety metrics and affordability pressure require prudent underwriting and proactive management.