| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Best |
| Demographics | 70th | Best |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8203 NW 31st Ave, Gainesville, FL, 32606, US |
| Region / Metro | Gainesville |
| Year of Construction | 1991 |
| Units | 100 |
| Transaction Date | 1990-11-20 |
| Transaction Price | $228,200 |
| Buyer | SANTA FE OAKS PHASE I LTD |
| Seller | SANTA FE TOWNHOMES |
8203 NW 31st Ave Gainesville 100-Unit Multifamily
Neighborhood occupancy sits around the metro midpoint with a notably high share of renter-occupied units, supporting depth of demand for a 100-unit asset, according to WDSuite’s CRE market data.
This Inner Suburb location ranks in the top quartile among 114 Gainesville neighborhoods overall (A-rated), signaling balanced fundamentals and renter demand drivers that are competitive within the metro. Neighborhood occupancy trends are above the metro median, and renter concentration sits in the top quartile locally — both supportive of leasing stability for multifamily investors.
Everyday convenience is a strength: restaurants, cafes, groceries, childcare, and pharmacies all place in the top quartile among Gainesville neighborhoods by density. Park access is limited relative to the metro, which may modestly constrain lifestyle appeal, but the surrounding amenity mix still supports resident retention.
Within a 3-mile radius, households have increased even as average household size has edged lower, indicating more, smaller households entering the market — a pattern that typically broadens the renter pool and supports occupancy stability. Forward-looking data also points to projected growth in population and households over the next five years, which should expand the potential tenant base. Median contract rents in the neighborhood have risen meaningfully over the last five years, while a rent-to-income profile near the lower end nationally suggests measured affordability pressure that can aid lease retention and reduce turnover risk.
The property’s 1991 vintage is slightly newer than the neighborhood average stock. That positioning helps competitiveness versus older assets, though investors should still plan for periodic system upgrades and selective interior modernization to meet current renter expectations.
Relative to the Gainesville metro, the neighborhood’s crime rank is above the median among 114 neighborhoods, but it falls below the national median by percentile. In practical terms, safety conditions are competitive locally yet less favorable in a national comparison.
Recent trends show improvement: estimated violent offense rates declined year over year, and property offenses also moved lower. These directional shifts, based on WDSuite’s CRE market data, indicate a moderating backdrop rather than a structural change. Investors should underwrite with standard precautions and emphasize on-site lighting, access control, and resident engagement.
This 100-unit asset benefits from a top-quartile neighborhood within the Gainesville metro, above-median occupancy at the neighborhood level, and a high share of renter-occupied housing that deepens the tenant base. Within a 3-mile radius, the outlook points to growth in both households and income, supporting rentability and potential rent maturation over the medium term. Based on CRE market data from WDSuite, neighborhood rent-to-income is relatively manageable, which can support renewal velocity while still allowing for disciplined rent optimization.
Built in 1991, the property is slightly newer than the area’s average vintage, providing a competitive edge versus older stock while leaving room for value-add through targeted renovations and system updates. Key considerations include nationally below-median safety metrics and limited park access, as well as some competition from homeownership given moderate home values; these factors warrant conservative underwriting and asset management focus.
- Top-quartile Gainesville neighborhood with above-median occupancy supporting leasing stability
- Elevated renter-occupied share locally indicates depth of tenant demand
- 3-mile projections show household and income growth, expanding the renter pool
- 1991 vintage offers competitiveness today with value-add potential via targeted updates
- Risks: below-median national safety percentile, limited park access, and ownership alternatives