| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 31st | Poor |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2811 Ruleme St, Eustis, FL, 32726, US |
| Region / Metro | Eustis |
| Year of Construction | 1986 |
| Units | 90 |
| Transaction Date | 2012-04-05 |
| Transaction Price | $2,485,000 |
| Buyer | TANGLEWOOD EUSTIS HOLDINGS LLC |
| Seller | 2383 RE HOLDINGS LLC |
2811 Ruleme St, Eustis FL Multifamily Investment
Neighborhood renter-occupied share is elevated and occupancy has trended higher over five years, pointing to durable demand near the metro median, according to CRE market data from WDSuite.
Positioned in Eustis within the Orlando-Kissimmee-Sanford metro, the neighborhood carries a B rating and ranks 201 out of 465 metro neighborhoods — above the metro median. Investor takeaway: demand indicators are stable rather than cyclical, with neighborhood occupancy around the metro middle and improving over the past five years.
Daily-needs access is a relative strength. Grocery and pharmacy density rank among the better parts of the metro (both within the top 90–92nd national percentiles), and restaurants are plentiful (top 91st percentile nationally), though cafes are limited. This mix supports resident convenience and lease retention even without destination retail.
Tenure patterns are favorable for multifamily. The neighborhood’s share of renter-occupied housing units is high (ranked 45 of 465 in the metro; top 93rd percentile nationally), indicating a deep tenant base that can support occupancy stability and leasing velocity.
Within a 3-mile radius, demographics indicate renter pool expansion: population and households have grown in recent years and are projected to continue increasing, with modestly smaller average household sizes. Median contract rents in the 3-mile radius have risen, and WDSuite’s CRE market data point to further rent growth alongside rising household incomes — a setup that can support pricing while maintaining retention.
Ownership costs in the immediate neighborhood sit on the higher side relative to local incomes (value-to-income ratio ranks near the top of the metro and high nationally). For investors, a high-cost ownership context tends to sustain reliance on rental housing, reinforcing demand for well-run multifamily assets.
Comparable safety metrics for this neighborhood are not available in the current WDSuite release. Investors should benchmark conditions using municipal data and trend comparisons to the broader Orlando-Kissimmee-Sanford metro to contextualize on-the-ground risk and leasing considerations.
Proximity to a diversified employer base supports commuter convenience and broad renter demand, including waste services, technology, financial services, logistics, and corporate restaurant operations noted below.
- Waste Management — waste services (12.7 miles)
- Symantec — cybersecurity/software (20.4 miles)
- Prudential — financial services (28.0 miles)
- Ryder — logistics (30.5 miles)
- Darden Restaurants — corporate restaurant group (32.4 miles) — HQ
2811 Ruleme St totals 90 units built in 1986. The vintage suggests typical 1980s systems and interiors, offering a clear path for targeted value-add and capital planning to enhance competitiveness against newer stock. Neighborhood-level fundamentals are steady: renter concentration is high, occupancy trends have improved over five years, and daily-needs amenities are strong. According to CRE market data from WDSuite, the surrounding 3-mile area has seen population and household growth with rising incomes and rents, supporting a larger tenant base and potential for disciplined rent optimization.
Balanced view: while NOI per unit at the neighborhood level runs below national norms and schools are not a primary demand driver here, the high-cost ownership context relative to incomes and expanding 3-mile demographics point to durable renter reliance. Execution focus should center on value-add scope, expense control, and retention management.
- High renter-occupied share supports depth of tenant demand and occupancy stability.
- 1986 vintage provides value-add and modernization opportunities to lift rent positioning.
- 3-mile population and household growth with rising incomes bolster leasing and pricing power.
- Risks: below-average neighborhood NOI per unit and limited cafe/education pull require disciplined expense control and targeted upgrades.