| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 11th | Poor |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 541 Prospect Ave, Fort Myers, FL, 33905, US |
| Region / Metro | Fort Myers |
| Year of Construction | 1983 |
| Units | 46 |
| Transaction Date | 2000-06-19 |
| Transaction Price | $1,060,000 |
| Buyer | DEALMEIDA LEONEL |
| Seller | MENDES DAVID |
541 Prospect Ave Fort Myers Multifamily Investment
Neighborhood occupancy sits near the low-90% range with a high renter-occupied share, signaling depth in the tenant base according to WDSuite’s CRE market data.
Positioned in an Inner Suburb of the Cape Coral–Fort Myers metro, 541 Prospect Ave benefits from a renter-driven housing landscape. The neighborhood s renter-occupied share is elevated, suggesting a broad tenant pool and potential leasing stability for multifamily assets. At the neighborhood level, occupancy is above the metro median and within the top quartile among 211 metro neighborhoods, while sitting around mid-pack nationally, based on CRE market data from WDSuite. For investors, this points to steady demand with room for operational execution to drive performance.
Everyday convenience is mixed: cafes, parks, and pharmacies score well (each competitive on a national basis, with cafes and parks around the top decile), but grocery options are thin within the immediate neighborhood. This pattern often channels residents to nearby retail nodes and can influence resident retention strategies such as delivery partnerships or on-site conveniences. Average school ratings skew low locally, which may shift demand composition toward workforce and adult households rather than family-oriented leasing.
Within a 3-mile radius, demographics show households have expanded in recent years and are projected to grow further, with forecasts indicating a sizable increase in total households and a modest reduction in average household size. This combination typically enlarges the renter pool and supports occupancy stability. Income measures in the 3-mile area have risen, and projected gains paired with rising asking rents suggest manageable—but rising—affordability pressure that owners should monitor in pricing and renewal strategies.
The property 19s 1983 vintage is newer than the neighborhood 19s average construction year, giving it a competitive edge versus older stock. Investors should still underwrite selective modernization or systems updates to enhance positioning against recently renovated comparables while capturing value-add potential where finishes and amenities trail current renter expectations.
Safety indicators are mixed when viewed across geographies. The neighborhood 19s overall crime standing sits roughly mid-pack nationally (around the upper half for safety), with property offenses comparing favorably to national norms. Recent data also shows a meaningful year-over-year decline in estimated property crime, which is a constructive trend for tenant retention and leasing. However, violent offense measures are closer to national mid-range, and within the metro the area ranks in a segment with comparatively higher crime than top-tier suburbs.
For investors, the takeaway is directional improvement in property crime alongside average-to-moderate safety positioning. Asset-level measures (lighting, access control, and visibility) and community partnerships typically strengthen leasing performance regardless of neighborhood trends.
Regional employers contribute to a diversified workforce within commuting range, which supports renter demand and lease retention. Notable nearby corporate presence includes the following.
- Hertz Global Holdings d corporate headquarters (17.2 miles) d HQ
A 46-unit, 1983-vintage asset in a renter-heavy Inner Suburb, this property aligns with demand fundamentals that are above the metro median for occupancy and supported by a growing 3-mile household base. Amenity access trends positive for cafes, parks, and pharmacies, while limited immediate grocery options suggest value in resident services that reduce friction. According to CRE market data from WDSuite, the neighborhood 19s renter-occupied concentration and stable occupancy backdrop indicate a sizable tenant base, while property crime has improved year over year.
Investor focus should center on operational execution and selective upgrades. The vintage positions the asset competitively versus older housing stock, with potential to capture value-add upside through targeted renovations and resident-experience enhancements. Affordability indicators remain manageable today but warrant careful lease management as rents and incomes evolve.
- Renter-heavy neighborhood supports a deep tenant base and stable occupancy.
- 1983 vintage offers a competitive edge versus older local stock with value-add potential.
- Household growth within 3 miles points to a larger renter pool and leasing durability.
- Amenities trend favorable (cafes, parks, pharmacies), reinforcing livability near employment centers.
- Risks: limited immediate grocery access and average safety positioning require thoughtful resident services and security practices.