| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 43rd | Fair |
| Amenities | 53rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 307 Washington Ave, Inverness, FL, 34450, US |
| Region / Metro | Inverness |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
307 Washington Ave Inverness 24-Unit Multifamily Investment
Neighborhood fundamentals point to steady renter demand with competitive occupancy and strong day-to-day convenience, based on CRE market data from WDSuite. Investor focus: a modest renter base but reliable service amenities that support retention.
Neighborhood
Inverness offers everyday convenience that supports resident retention: grocery and pharmacy access rank among the strongest in the metro, with grocery availability the highest among 50 Homosassa Springs neighborhoods and pharmacies also near the top. Restaurant density is above the metro median, while parks and cafes are limited—pointing to practical livability rather than lifestyle-driven foot traffic.
At the neighborhood level, occupancy is competitive among Homosassa Springs neighborhoods, supporting stable leasing conditions. The area’s housing stock skews older than recent deliveries, and this asset’s 1985 vintage is newer than the neighborhood average (late 1970s), offering relative competitiveness versus older inventory while leaving room for targeted modernization of building systems and interior finishes.
Tenure patterns show roughly one-quarter of housing units are renter-occupied locally. For investors, a smaller renter concentration can mean thinner top-of-funnel leasing, but it can also support stability where residents value proximity to services and prefer smaller buildings. Rent-to-income around one-quarter suggests moderate affordability pressure and measured pricing power.
Within a 3-mile radius, population and households have grown over the last five years and are projected to expand further, indicating a larger tenant base ahead. Forecasts also point to smaller average household sizes, which can increase demand for rental units and help sustain occupancy.
Safety
Compared with neighborhoods nationwide, safety indicators place this area below the national middle, and within the Homosassa Springs metro it trends toward the higher-crime end among 50 neighborhoods. Recent data show an uptick in violent incidents year over year, while property crime levels sit closer to national midrange.
For underwriting, investors typically account for these dynamics through property-level measures, tenant screening, and lighting/security enhancements, and by monitoring neighborhood trends over subsequent periods rather than relying on a single year of data.
The employment base within commuting range includes regional operations that can support renter demand through steady blue-collar and service roles. The list below reflects nearby employers relevant to workforce housing.
- Waste Management — waste services (25.5 miles)
This 24-unit property delivers durable, needs-based renter appeal supported by strong service amenity access and neighborhood occupancy that is competitive among Homosassa Springs peers. The 1985 vintage is newer than the local average, providing a relative edge versus older stock and potential value-add through targeted renovations and system upgrades.
Within a 3-mile radius, population growth and a projected increase in households point to a larger tenant base and support for occupancy stability. According to WDSuite’s commercial real estate analysis, neighborhood-level rents and rent-to-income suggest moderate affordability pressure, enabling disciplined revenue management while maintaining retention. Key considerations include a smaller renter-occupied share and safety metrics that warrant pragmatic on-site measures.
- Competitive neighborhood occupancy supports leasing stability
- 1985 vintage is newer than local average, with value-add potential via modernization
- 3-mile population and household growth expand the tenant base and support demand
- Essential retail access (grocery, pharmacy) aids retention and everyday livability
- Risks: smaller renter concentration and below-national safety positioning require active management