| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 31st | Poor |
| Amenities | 72nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 611 Mount Homer Rd, Eustis, FL, 32726, US |
| Region / Metro | Eustis |
| Year of Construction | 1982 |
| Units | 50 |
| Transaction Date | 2021-04-29 |
| Transaction Price | $2,370,400 |
| Buyer | DEERWOOD EUSTIS LLC |
| Seller | DEERWOOD GARDENS LP |
611 Mount Homer Rd Eustis Multifamily Investment
Neighborhood occupancy is around the Orlando metro median and trending upward, according to WDSuite s CRE market data, highlighting steady renter demand supported by strong daily-needs access.
Positioned in an Inner Suburb of Eustis with a B neighborhood rating, the area is competitive among Orlando-Kissimmee-Sanford neighborhoods for daily-needs convenience. Grocery, restaurant, pharmacy, and childcare density are in the top quartile nationally, while caf es are limited and park access sits in the upper range nationwide. This mix supports workforce renters who prioritize essentials and short errands over destination retail.
Renter concentration in the immediate neighborhood is elevated (renter-occupied share is high relative to peers), indicating depth in the tenant base. Occupancy has improved over the last five years and sits near the metro median, a constructive signal for lease stability and renewal capture rather than purely lease-up velocity.
Within a 3-mile radius, population and household counts have grown in recent years and are projected to expand further by 2028, while average household size edges lower. This combination points to a larger tenant base over time and more singles and couples entering the market supportive for studio and smaller-unit demand if finishes and pricing match local expectations. The broader 3-mile area leans more toward ownership than the immediate neighborhood, so competitive positioning (finish level, amenities, parking) will be important to sustain pricing.
Ownership costs are elevated relative to local incomes on a national basis, which tends to reinforce renter reliance on multifamily housing and can aid lease retention. At the same time, neighborhood rents remain relatively accessible on a rent-to-income basis, which supports retention but may limit near-term pricing power without targeted upgrades. Given lower median incomes in the immediate neighborhood, underwriting should assume measured rent steps unless value-add improvements justify outsized rent premiums.
Comparable crime metrics are not available for this neighborhood in WDSuite s dataset. Without standardized rank or percentile context, investors typically benchmark local conditions against city and county trend data and corroborate with property-level loss runs and management feedback.
A prudent approach is to compare multi-year trends at the city and county level, assess site lighting and access controls during tours, and incorporate feedback from nearby operators to contextualize resident experience and retention risk.
Nearby corporate offices span environmental services, cybersecurity, financial services, logistics, and a major restaurant group headquarters a diversified employment base that supports commute convenience and steady renter demand.
- Waste Management environmental services (12.5 miles)
- Symantec cybersecurity (20.7 miles)
- Prudential financial services (28.3 miles)
- Ryder logistics (30.8 miles)
- Darden Restaurants restaurant group (32.8 miles) HQ
Built in 1982, the asset may benefit from targeted value-add and system modernization to sharpen competitive positioning against newer stock. The immediate neighborhood shows a high share of renter-occupied units and occupancy near the metro median with a multi-year uptick, pointing to demand stability. Population and household growth within a 3-mile radius indicate a larger tenant base ahead, while elevated ownership costs relative to incomes help sustain reliance on rental housing according to CRE market data from WDSuite, these dynamics are consistent with steady renter demand across comparable Inner Suburb locations.
Rents in the neighborhood remain relatively accessible, which aids retention and provides room to tie rent steps to renovations, though the area s income profile suggests measured pacing and close attention to finish-level ROI. The broader 3-mile area s tilt toward ownership underscores the importance of amenity, parking, and management execution to maintain leasing velocity.
- Stable renter base with improving neighborhood occupancy and elevated renter concentration
- Strong daily-needs access (groceries, restaurants, pharmacies, childcare) supports retention and leasing
- 1982 vintage offers value-add and modernization pathways to drive rent-performance
- 3-mile population and household growth expand the tenant pool over the medium term
- Risk: lower neighborhood incomes and ownership competition require disciplined pricing and amenity strategy