| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 27th | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2511 Sennett Dr, Leesburg, FL, 34748, US |
| Region / Metro | Leesburg |
| Year of Construction | 2003 |
| Units | 72 |
| Transaction Date | 2003-06-06 |
| Transaction Price | $700,000 |
| Buyer | C H P C LEESBURG LTD |
| Seller | SENNETT TIMOTHY H |
2511 Sennett Dr, Leesburg Multifamily Investment
Early-2000s, mid-size asset with neighborhood occupancy around 90% supports income stability, according to WDSuite’s CRE market data. Renter demand is reinforced by a sizable renter-occupied share locally, while pricing remains comparatively accessible within the Orlando metro context.
Located in Leesburg within the Orlando-Kissimmee-Sanford metro, the property sits in an inner-suburban neighborhood rated C among 465 metro neighborhoods. Amenity access is competitive among Orlando neighborhoods, with restaurants and grocery options ranking near the upper tier locally and in the top quartile nationally for density, which supports daily convenience for residents.
Neighborhood occupancy is 90.2%, generally supportive for lease stability at comparable assets. The area’s renter-occupied share is about 48%, placing it in a high national percentile for renter concentration, which indicates depth in the tenant base and ongoing leasing demand for multifamily.
Within a 3-mile radius, population and households have grown meaningfully over the last five years and are projected to expand further, pointing to a larger tenant base and continued renter pool expansion. Median contract rents in the immediate neighborhood sit below national norms, which can aid lease-up and retention, though rent-to-income levels suggest careful revenue management to balance affordability pressure with pricing power.
The property’s 2003 vintage is newer than the neighborhood’s average 1981 construction year, indicating relative competitiveness versus older stock; investors should still plan for selective modernization of building systems and common areas over the hold. Average school ratings are below national medians, which may temper family-driven appeal; positioning toward workforce renters and value-focused households could be effective in this submarket.
Neighborhood safety metrics track below national medians, based on national percentiles from WDSuite. Recent year-over-year readings indicate an uptick in both property and violent offenses, so investors should underwrite to prudent security and loss-prevention measures and consider operating practices that support resident comfort and retention.
Framing this comparatively, the area does not place in the top quartile nationally for safety; owners typically address this with lighting, access controls, and community engagement programs while calibrating insurance and contingency assumptions to local trend lines.
Area employment is diversified across services, logistics, and corporate administration, supporting workforce housing demand and commute convenience to the following nearby employers listed by proximity: Waste Management, Symantec, Prudential, Ryder, and Darden Restaurants.
- Waste Management — environmental services (0.36 miles)
- Symantec — software/security offices (33.31 miles)
- Prudential — financial services offices (37.23 miles)
- Ryder — logistics & transportation offices (39.78 miles)
- Darden Restaurants — corporate offices (41.13 miles) — HQ
This 72-unit, early-2000s asset benefits from neighborhood occupancy around 90% and a high local renter-occupied share, supporting demand depth and leasing stability. The property’s 2003 construction offers a competitive edge against older nearby stock, while a value-oriented rent environment can aid retention and steady absorption, according to CRE market data from WDSuite.
Within a 3-mile radius, recent and projected gains in population and households point to a growing tenant base, though the local ownership landscape is relatively accessible and could compete with rentals at certain price points. Underwriting should balance these drivers with responsible allowances for safety-related operating practices and the potential need for targeted system upgrades over the hold.
- Neighborhood occupancy near 90% supports income consistency relative to comparable assets
- 2003 vintage offers competitive positioning versus older stock with selective modernization potential
- Expanding 3-mile population and households indicate a growing renter pool and demand resilience
- Value-oriented rent context can support lease-up and retention with disciplined revenue management
- Risks: below-median safety metrics, lower school ratings, and accessible ownership options may require targeted leasing strategy and operating controls