| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 52nd | Fair |
| Amenities | 17th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 516 Rio De Janeiro Ave, Punta Gorda, FL, 33983, US |
| Region / Metro | Punta Gorda |
| Year of Construction | 2011 |
| Units | 82 |
| Transaction Date | 2004-12-23 |
| Transaction Price | $440,000 |
| Buyer | CHARLOTTE CROSSING LTD |
| Seller | SANDHILL BOULEVARD DEVELOPMENT LLC |
516 Rio De Janeiro Ave Punta Gorda Multifamily Investment
Neighborhood occupancy trends are holding above the metro median and ownership costs are relatively high versus incomes, supporting renter demand according to WDSuite’s CRE market data. With a modest renter concentration today and household growth projected locally, investors can underwrite steady leasing with measured upside.
Situated in a suburban pocket of Punta Gorda, the property benefits from neighborhood occupancy that ranks 7 out of 45 metro neighborhoods — indicating performance above the metro median and supportive of leasing stability. Construction in 2011 positions this asset as newer than the neighborhood average vintage (1990), which helps competitiveness versus older local stock while still warranting routine capital planning for systems as the asset approaches mid-life.
Livability signals are mixed. Grocery access is around the metro middle (rank 24 of 45), while cafes, parks, and pharmacies are limited in the immediate area, reflecting a car-oriented suburban environment. That said, Punta Gorda’s ownership market skews higher-cost relative to incomes (top quartile nationally on value-to-income), which tends to sustain reliance on rental housing and can support pricing power and retention for well-operated properties.
Tenure patterns suggest a relatively small base of renter-occupied units locally, but 3-mile demographics show population and household counts increasing, with forecasts pointing to additional household growth through 2028. For multifamily investors, that implies a gradually expanding tenant base that can support occupancy and absorption, particularly for efficiently sized units.
Income levels sit near national midpoints, and median contract rents in the neighborhood are also mid-range for the metro. Combined with a moderate rent-to-income profile, this supports manageable affordability pressure and gives operators room to focus on lease management and resident retention rather than outsized concessions. These observations are based on CRE market data from WDSuite at the neighborhood level; all demographic statistics reference a 3-mile radius.
Comparable safety context is important for underwriting, but neighborhood-level crime data was not available in WDSuite for this location. Investors typically benchmark against city and county trends and evaluate property-level controls (access, lighting, and management practices) alongside surrounding suburban characteristics. Where crime ranks are available in the metro, translating them to “above metro average” or “competitive locally” tends to be more informative than block-level figures.
Regional employment access is oriented to broader Southwest Florida, with industrial and corporate services within commuting range that can support workforce renter demand and retention. Featured employers below reflect proximity that matters for leasing.
- Airgas Store — industrial gases (41.5 miles)
- Hertz Global Holdings — car rental services (43.3 miles) — HQ
This 2011-built, 82-unit asset offers a newer-vintage alternative in a suburban Punta Gorda neighborhood where occupancy ranks above the metro median, supporting stable operations. Ownership costs in the area are elevated relative to incomes, which tends to reinforce renter reliance on multifamily housing and can aid pricing power for well-managed, efficiently sized units.
Within a 3-mile radius, population and households have been growing and are projected to expand further, pointing to a gradually larger tenant base and potential for steady absorption. According to CRE market data from WDSuite, rents and incomes sit near national midpoints, suggesting manageable affordability pressure and providing a runway for systematic value creation through operations and selective upgrades rather than heavy concessions.
- Newer 2011 vintage versus local stock enhances competitive positioning and reduces near-term obsolescence risk.
- Neighborhood occupancy is above the metro median, supporting leasing stability.
- High-cost ownership context sustains rental demand and can bolster retention and pricing power.
- 3-mile population and household growth indicates a gradually expanding renter pool and support for absorption.
- Risk: amenity-light, car-oriented setting and commuting distances to major employers may temper near-term lease-up velocity.