| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 23rd | Poor |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 414 N 3rd St, Leesburg, FL, 34748, US |
| Region / Metro | Leesburg |
| Year of Construction | 2003 |
| Units | 40 |
| Transaction Date | 2001-09-28 |
| Transaction Price | $110,000 |
| Buyer | BEACON COLLEGE INC |
| Seller | CLARK GEORGE JAMES |
414 N 3rd St, Leesburg 40-Unit Multifamily
Built in 2003, this asset competes against an older local stock while tapping into a renter base supported by steady neighborhood occupancy, according to WDSuite’s CRE market data.
Livability supports workforce housing demand. The neighborhood ranks 50th out of 465 metro neighborhoods for overall amenities, placing it in the top quartile locally, with strong access to restaurants, parks, and pharmacies (nationally high percentiles). Grocery options are solid for day-to-day needs. The cafes footprint is thinner, but core services and daily conveniences are present.
The neighborhood’s housing stock skews older (average vintage 1958), which positions a 2003-built property as relatively competitive on unit finishes and systems; investors should still plan for targeted modernization as the asset approaches mid-life. Neighborhood occupancy is stable at the area level and has improved over the last five years, a constructive signal for leasing stability at comparable assets.
Unit tenure patterns indicate depth for rentals: within the neighborhood, 55.4% of housing units are renter-occupied, pointing to a sizable tenant pool. In the 3-mile radius, households and families have grown meaningfully over the past five years, with forecasts calling for further population and household growth through 2028. This expansion translates into a larger tenant base and supports occupancy resilience for multifamily properties.
Home values in the neighborhood remain relatively accessible compared with higher-cost Florida metros, which can introduce some competition from ownership alternatives. At the same time, rent-to-income ratios indicate affordability pressure for some renters, suggesting a need for disciplined lease management and renewal strategies. Overall, the mix of amenity access, renter concentration, and household growth trends supports durable demand, based on CRE market data from WDSuite.
Safety conditions are mixed. The neighborhood sits around the metro median when compared with 465 Orlando-area neighborhoods, and it trends below average versus national benchmarks. Recent data show a modest year-over-year decline in violent incidents alongside a small uptick in property offenses. For investors, this argues for standard operational precautions, active lighting and access control, and tenant engagement to support retention.
Nearby employers provide diversified jobs that help support renter demand and commute convenience, including environmental services, technology, financial services, logistics, and restaurant corporate operations.
- Waste Management — environmental services (2.0 miles)
- Symantec — technology (31.6 miles)
- Prudential — financial services (34.9 miles)
- Ryder — logistics (37.4 miles)
- Darden Restaurants — restaurant corporate (38.7 miles) — HQ
This 2003, 40-unit property offers relative competitiveness versus an older neighborhood stock, with the renter base supported by improving neighborhood occupancy and a growing 3-mile population and household count. Access to everyday amenities and a diversified employment base underpins demand and leasing visibility, while rent-to-income dynamics call for careful pricing and renewal management.
According to CRE market data from WDSuite, the surrounding neighborhood sits near the metro middle on safety and overall performance but benefits from top-quartile local amenity access and a meaningful share of renter-occupied housing units. Forward-looking demographic growth within a 3-mile radius points to a larger tenant pool, though a gradual tilt toward ownership in forecasts suggests monitoring future renter share.
- 2003 vintage competing against older local stock; targeted updates can lift positioning
- Neighborhood renter concentration and improving area occupancy support leasing stability
- Strong local amenities and proximity to diversified employers aid retention
- Growing 3-mile households and population expand the tenant base
- Risks: affordability pressure (rent-to-income) and safety variability require active management