| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 47th | Fair |
| Amenities | 51st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 E Caroline St, Tavares, FL, 32778, US |
| Region / Metro | Tavares |
| Year of Construction | 1979 |
| Units | 40 |
| Transaction Date | 2008-02-21 |
| Transaction Price | $2,310,000 |
| Buyer | TCCA PROPERTY LLC |
| Seller | MOVING REAL ESTATE LLC |
1000 E Caroline St Tavares Multifamily Value‑Add
Positioned in an inner-suburb pocket of Tavares with stable renter demand, this 40-unit asset offers operational upside in a market where neighborhood occupancy has trended upward, according to WDSuite’s CRE market data. The submarket’s mid-tier rent levels and growing household base support steady leasing while leaving room for targeted upgrades.
The property sits in a B+–rated neighborhood that is competitive among Orlando-Kissimmee-Sanford neighborhoods (ranked 170 out of 465). Local occupancy for the neighborhood has improved over the past five years, indicating resilient demand even as supply expanded across parts of the metro. Renter-occupied housing accounts for roughly one-third of neighborhood units, suggesting a moderate renter concentration that supports a stable tenant base.
Daily-life amenities are serviceable, with grocery access performing in the upper tiers of both the metro and nation, and restaurants similarly strong. Childcare supply tracks above national midpoints, while specialty categories like cafes and pharmacies are thinner; investors should assume residents rely on a broader trade area for some services. This mix supports workforce housing fundamentals without relying on destination retail.
Within a 3-mile radius, population and household counts have grown and are projected to expand further through 2028, widening the renter pool. Average household size is edging smaller, which can favor efficient floor plans and support occupancy stability. Median home values in the neighborhood sit in a high-cost ownership context relative to local incomes (value-to-income ratio near the upper national quartile), which tends to sustain reliance on multifamily rentals and can reinforce pricing power for well-managed assets.
Neighborhood housing stock skews newer than the subject’s 1979 vintage (area average construction year is 1994), indicating that refreshed finishes and system updates can improve competitive positioning against nearby alternatives. Taken together, the location offers accessible services, a growing tenant base, and room to differentiate through targeted capital plans.
Comparable safety data at the neighborhood level is not available in this release. Investors typically benchmark conditions against city and metro trends and supplement with local reports and property-level history to assess risk and retention dynamics.
Nearby employers provide a diversified base of corporate offices supporting commuter demand and lease retention, including Waste Management, Symantec, Prudential, Ryder, and Darden Restaurants.
- Waste Management — environmental services (11.1 miles)
- Symantec — software & cybersecurity (22.0 miles)
- Prudential — financial services (27.8 miles)
- Ryder — logistics & transportation (30.3 miles)
- Darden Restaurants — restaurant headquarters & corporate (32.1 miles) — HQ
Built in 1979, the 40-unit property is older than the area’s typical 1990s-vintage stock, creating a clear path for value-add through interior modernization and targeted building systems planning. The immediate neighborhood is competitive within the Orlando metro and has seen occupancy strengthen, with mid-market rents and a renter share that points to a dependable, if not oversaturated, tenant base. According to CRE market data from WDSuite, elevated ownership costs relative to incomes in the neighborhood help sustain rental demand, which can support leasing stability for well-managed assets.
Three-mile demographics show population and household growth with smaller average household sizes, expanding the pool of renters suited to efficient unit layouts. Amenity access is practical—strong grocery and restaurant presence—while select categories are thinner, emphasizing the importance of on-site convenience and management-driven retention. Overall, the thesis centers on steady demand, operational execution, and renovation-led rent positioning.
- Older 1979 vintage supports a value-add plan to compete with 1990s-area stock
- Neighborhood occupancy has trended up, supporting leasing stability versus broader metro swings
- High-cost ownership context reinforces reliance on rentals, aiding pricing power for renovated units
- 3-mile population and household growth expands the tenant base and supports ongoing demand
- Risks: aging systems may require capex; affordability pressure warrants disciplined lease management; amenity gaps (e.g., pharmacies/cafes) may shift some spend to adjacent areas