| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 31st | Poor |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2800 Ruleme St, Eustis, FL, 32726, US |
| Region / Metro | Eustis |
| Year of Construction | 1972 |
| Units | 48 |
| Transaction Date | 1995-02-16 |
| Transaction Price | $900,000 |
| Buyer | PLAZA ASSOC LTD PTNR |
| Seller | HICKEY WILLIAM M |
2800 Ruleme St Eustis FL Multifamily Opportunity
Positioned in an inner-suburban Eustis location with steady renter demand, the property benefits from a neighborhood renter-occupied share that supports a stable tenant base, according to WDSuite’s CRE market data.
The property sits within an Inner Suburb neighborhood of the Orlando–Kissimmee–Sanford metro that ranks 57th out of 465 metro neighborhoods for overall amenities—placing it in the top quartile locally. Grocery access, pharmacies, restaurants, and childcare score in high national percentiles, pointing to everyday convenience that can aid leasing and retention, while café density is limited. School rating data is limited for this neighborhood and should be monitored by investors considering family-oriented marketing.
Neighborhood occupancy is near the metro median by national comparison, and the area shows a high share of renter-occupied housing units (59.3%). For multifamily owners, that renter concentration indicates a deeper tenant pool and supports leasing velocity across market cycles. Median contract rents in the neighborhood trend on the lower side relative to national benchmarks, which can help sustain demand and reduce vacancy friction in softer periods.
Within a 3-mile radius, demographics point to population growth and a larger household base over the past five years, with projections indicating continued expansion through 2028. This growth suggests a broadening renter pool and supports occupancy stability. The ownership market’s value-to-income profile skews elevated by national standards, which generally sustains reliance on rental options and can reinforce pricing power for well-positioned units.
The average construction year in the surrounding neighborhood skews newer than the subject (1984 vs. 1972). Given the property’s earlier vintage, investors should underwrite for selective capital improvements or a value-add program to enhance competitiveness versus younger stock, while recognizing that even newer comparables may require modernization of systems over hold periods.
Comparable, block-level crime metrics are not available in WDSuite for this neighborhood. Investors typically benchmark conditions against city and metro trends and track changes over time using public safety reports and insurer guidance. Use a consistent, metro-level comparison framework and verify on-the-ground conditions during due diligence rather than relying on isolated anecdotes.
Nearby corporate offices across waste services, cybersecurity, financial services, logistics, and restaurant headquarters provide diversified employment centers that support renter demand and commute convenience for workforce tenants. Employers highlighted below align with the immediate employment shed serving Eustis and the broader Orlando corridor.
- Waste Management — waste services (12.6 miles)
- Symantec — cybersecurity/software (20.5 miles)
- Prudential — financial services (28.1 miles)
- Ryder — logistics and transportation (30.6 miles)
- Darden Restaurants — restaurant corporate offices (32.5 miles) — HQ
This 48-unit, 1972-vintage asset in Eustis benefits from a renter-heavy neighborhood, everyday amenity access, and demographic growth within a 3-mile radius that expands the tenant base. Based on CRE market data from WDSuite, neighborhood occupancy trends are near the metro median, while the renter-occupied share is high—factors that support leasing stability for workforce-oriented product. The earlier vintage suggests a value-add or systems modernization plan could enhance competitive positioning versus the area’s somewhat newer housing stock.
Local ownership costs are elevated relative to incomes by national measures, which tends to sustain reliance on multifamily housing and can support retention and pricing for well-managed units. With neighborhood rents positioned on the more accessible side of national benchmarks, operators have room to focus on operational execution—renewals, unit turns, and targeted upgrades—to capture durable NOI growth through the cycle.
- Renter-heavy neighborhood supports a deeper tenant base and steady leasing
- Amenity access (grocery, pharmacy, restaurants) aids retention and day-to-day livability
- 3-mile radius shows population and household growth, reinforcing multifamily demand
- 1972 vintage offers value-add and systems-upgrade pathways to compete with newer stock
- Risk: Limited neighborhood-level safety data and older physical plant warrant diligence and CapEx planning