| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Good |
| Demographics | 34th | Poor |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 32420 Quiet Harbor Ave, Leesburg, FL, 34788, US |
| Region / Metro | Leesburg |
| Year of Construction | 2007 |
| Units | 44 |
| Transaction Date | 2007-08-15 |
| Transaction Price | $320,000 |
| Buyer | ENTERPRISES COVE ACQUISITIONS LLC |
| Seller | FEDERAL HOME LOAN MORTGAGE CORPORATION |
32420 Quiet Harbor Ave Leesburg Multifamily Investment
Neighborhood occupancy sits above the metro median, according to WDSuite’s CRE market data, signaling durable renter demand in an inner-suburban Orlando setting.
Positioned in Leesburg within the Orlando-Kissimmee-Sanford metro, the neighborhood reflects inner-suburban dynamics favorable to workforce housing. Restaurants per square mile trend above national midpoints while grocery access is roughly at the metro middle, though cafes, pharmacies, and childcare are more limited. Parks score above the national midpoint, offering some livability support without relying on destination amenities.
The property’s 2007 vintage is newer than the neighborhood’s average construction year (1990). For investors, that typically translates into a more competitive offering versus older local stock while still warranting prudent capital planning as building systems age and as repositioning opportunities emerge.
Within the neighborhood, the share of housing units that are renter-occupied is elevated versus many areas nationally (75th percentile), which supports depth of the tenant base and leasing stability. At the same time, the metro rank for occupancy is above the median (rank 193 of 465), suggesting relative resilience among Orlando-area neighborhoods.
Demographic trends are aggregated within a 3-mile radius and point to a larger tenant base: population and households expanded over the past five years and are projected to continue growing, with a forecast increase in households by 2028 and a modest decrease in average household size. This pattern typically expands the renter pool and supports occupancy continuity. Median home values in the neighborhood sit in the national mid-high range with a high value-to-income ratio (78th percentile nationally), reinforcing reliance on multifamily rentals. With a rent-to-income ratio near the national lower third, rent levels appear manageable in aggregate, but lease management should monitor affordability pressure as rents grow.
Safety indicators are mixed in comparative terms. The neighborhood’s overall crime rank sits at 260 among 465 Orlando-area neighborhoods, and national positioning is below the midpoint overall (33rd percentile), indicating safety levels that trail national norms. However, violent offense incidence trends nearer the middle of U.S. neighborhoods (54th percentile), while property offense sits below the national midpoint (28th percentile). For investors, this suggests focusing on standard safety-forward operations, lighting, and access controls to support retention and leasing.
Nearby employers provide a diversified base that supports commute convenience and renter demand, led by waste services, technology, financial services, logistics, and corporate restaurant headquarters.
- Waste Management — environmental services (6.2 miles)
- Symantec — technology/security offices (26.9 miles)
- Prudential — financial services (31.8 miles)
- Ryder — logistics & transportation (34.3 miles)
- Darden Restaurants — corporate restaurant HQ (35.9 miles) — HQ
This 44-unit 2007 asset competes favorably against older neighborhood stock, with occupancy in the surrounding area holding above the metro median. Renter concentration in the neighborhood is higher than many areas nationally, supporting a deeper tenant base and steady leasing. Within a 3-mile radius, both population and households have grown and are projected to continue expanding, indicating ongoing renter pool expansion and support for occupancy stability. Elevated home values relative to incomes locally sustain reliance on rentals, while current rent-to-income levels suggest manageable affordability with attention to renewal pricing.
According to CRE market data from WDSuite, local fundamentals point to durable demand with room for operational upside through targeted renovations and amenity enhancements typical for mid-2000s construction. Investors should underwrite standard safety-forward practices and monitor affordability as rents rise to protect retention.
- 2007 vintage offers competitive positioning versus older local stock with potential value-add through modernization
- Neighborhood occupancy above metro median supports leasing stability and pricing discipline
- Higher renter-occupied share and 3-mile population/household growth expand the tenant base
- Ownership costs in the area reinforce demand for multifamily rentals, aiding retention and absorption
- Risks: amenity gaps and below-median national safety percentiles warrant focused property operations and resident experience investments