| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 38th | Fair |
| Amenities | 76th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 725 NW 13th St, Gainesville, FL, 32601, US |
| Region / Metro | Gainesville |
| Year of Construction | 2008 |
| Units | 100 |
| Transaction Date | 2004-03-31 |
| Transaction Price | $2,825,000 |
| Buyer | UNIVERSITY HOUSE GAINESVILLE LLC |
| Seller | PARK CENTRAL HOLDINGS OF GAINESVILLE LLC |
725 NW 13th St Gainesville Multifamily Investment
2008 vintage in an Urban Core location with a deep renter base positions this asset for durable demand, according to WDSuite’s CRE market data, even as neighborhood occupancy trends run below the metro median.
Situated in Gainesville’s Urban Core, the property benefits from a neighborhood rated A and ranked 16 out of 114 metro neighborhoods, signaling competitive positioning within the metro. The surrounding area offers everyday convenience: restaurants and pharmacies rank among the strongest concentrations in the metro (restaurant density ranks 1 of 114; pharmacy density ranks 1 of 114) and both sit in the top national percentiles. Groceries are also accessible (rank 7 of 114; nationally strong). Cafés and parks are limited locally, which may modestly affect walk-to-leisure appeal.
The neighborhood’s housing stock skews older (average 1986), while this property’s 2008 construction provides a relative edge versus nearby vintage stock, supporting competitiveness as systems age. Neighborhood occupancy is measured at the neighborhood level, not the property; current neighborhood occupancy sits below both metro and national medians and has softened over the past five years, indicating leasing may require attentive asset management and pricing discipline.
Renter-occupied share is high at the neighborhood level (near the top of the metro and nationally), which supports a broad tenant base for multifamily operators. Median home values are moderate for Florida yet ownership costs relative to incomes trend elevated (value-to-income sits in the top national percentile), which can reinforce reliance on rental housing and aid retention.
Within a 3-mile radius, demographics point to a growing renter pool: population and households have expanded in recent years with additional gains projected, and a large 18–34 cohort underpins housing demand. Rising household incomes in the 3-mile area, alongside increasing contract rents, suggest ongoing revenue potential, though operators should monitor affordability to manage renewal risk.
Safety indicators at the neighborhood level trend weaker than both metro and national norms. Crime ranks 67 out of 114 Gainesville neighborhoods (below metro average), and national comparisons place the area in lower percentiles for both property and violent offenses. That said, recent year-over-year trends show improvement, with estimated rates declining, which is a constructive signal to monitor rather than a resolved risk.
For underwriting, investors may consider enhanced on-site security, lighting, and resident engagement, along with potential insurance cost sensitivity. Always evaluate sub-block variations and recent comparables; crime statistics reflect neighborhood-wide patterns, not conditions at the property itself.
Built in 2008, this 100-unit asset is newer than much of the surrounding housing stock, offering competitive positioning versus older properties while still allowing for targeted modernization. A very high renter concentration at the neighborhood level and a growing 3-mile tenant base support leasing durability, even as neighborhood occupancy trends require hands-on management. According to commercial real estate analysis from WDSuite, elevated ownership costs relative to incomes in the neighborhood reinforce reliance on rental housing, supporting retention and pricing power when managed thoughtfully.
Forward-looking demographics within a 3-mile radius indicate population and household growth, expanding the pool of prospective renters. Operators should balance this demand backdrop against neighborhood safety and affordability pressures by calibrating amenities, unit finishes, and lease strategies to sustain occupancy and stabilize NOI over the hold period.
- 2008 construction offers a competitive edge versus older neighborhood stock with selective value-add potential
- High renter-occupied share at the neighborhood level supports tenant depth and leasing stability
- 3-mile population and household growth expand the renter pool, supporting occupancy over time
- Elevated ownership costs relative to incomes underpin renter reliance and potential retention
- Risks: below-median neighborhood occupancy, safety considerations, and affordability pressure require active asset management