| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Good |
| Demographics | 45th | Fair |
| Amenities | 11th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 20420 NW 243rd Dr, High Springs, FL, 32643, US |
| Region / Metro | High Springs |
| Year of Construction | 1983 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
20420 NW 243rd Dr, High Springs Multifamily Investment
Neighborhood occupancy trends are moderate and point to steady but competitive leasing conditions, according to WDSuite’s CRE market data. Investors should focus on renter demand drivers and value-add positioning to capture share in the Gainesville, FL metro.
High Springs sits within the Gainesville, FL metro and skews rural, with everyday amenities relatively dispersed. Neighborhood amenity access is around the metro middle (ranked 62 out of 114 metro neighborhoods), while cafes, parks, and childcare options are limited locally, reinforcing the need for car-based access to services. For a 28-unit asset, this setting can favor renters seeking quieter, lower-density living if the property offers practical conveniences on-site.
Occupancy in the surrounding neighborhood is measured at 88.4% (neighborhood metric, not the property), placing it below the metro median and around the lower half nationally. That context suggests leasing is achievable but competitive; investors should emphasize curb appeal, responsive operations, and differentiated unit finishes to sustain absorption and retention.
Within a 3-mile radius, demographics indicate a mixed demand picture: population edged down in recent years but is projected to grow through 2028, with households expected to increase and the renter-occupied share expanding from a relatively low base. This points to a larger tenant base and potential renter pool expansion that can support occupancy stability over time, especially for well-maintained, appropriately priced units.
Ownership costs in the neighborhood are moderate by national standards (median home value around $273,800; value-to-income ratio ranks in the top third nationally), which can reinforce reliance on rental housing for households not ready to buy. For investors, this supports depth of demand and can aid pricing power for renovated units, while still requiring careful lease management to balance affordability and retention.
Vintage profile also matters. The property was built in 1983, slightly older than the neighborhood average construction year (1988). This typically implies near-to-medium term capital planning for systems and common areas, but it also opens value-add pathways through targeted renovations that can out-compete older stock across the submarket.
Safety indicators are mixed when viewed against metro and national benchmarks. The neighborhood’s crime rank sits at 65 out of 114 Gainesville-area neighborhoods, which places it below the metro median. Nationally, the overall safety position trends below average. Property-related offenses track around the national middle, while violent offense indicators sit below national medians and have shown a recent uptick. Investors should underwrite with prudent lighting, access control, and community engagement measures, and monitor year-over-year trends as part of ongoing risk management.
This 28-unit 1983 asset in High Springs offers a straightforward value-add thesis: neighborhood occupancy is serviceable but below the metro median, amenity density is limited, and the surrounding 3-mile renter base is poised to expand alongside projected household growth. According to commercial real estate analysis from WDSuite, ownership costs in the area sit in a range that supports continued rental reliance, which can help sustain demand for renovated, competitively priced units.
The vintage is slightly older than the neighborhood average, pointing to near-term capex and an opportunity to reposition interiors and common areas to capture tenants seeking modern finishes in a quieter, low-density setting. With disciplined operations and targeted upgrades, investors can compete effectively for a growing renter pool while managing risks tied to amenity dispersion and safety variability.
- Value-add potential from 1983 vintage through interior and systems updates
- Neighborhood occupancy provides a base for stabilized leasing with competitive positioning
- Projected household growth within 3 miles indicates a larger tenant base over time
- Ownership costs support renter reliance, aiding demand for quality renovated units
- Key risks: below-median metro safety rank and dispersed amenities require proactive management