| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Good |
| Demographics | 41st | Fair |
| Amenities | 20th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1050 SW 1st Dr, Chiefland, FL, 32626, US |
| Region / Metro | Chiefland |
| Year of Construction | 1981 |
| Units | 54 |
| Transaction Date | 2022-09-30 |
| Transaction Price | $1,335,000 |
| Buyer | PRAIRIE OAKS PRESERVATION LP |
| Seller | PRAIRIE OAKS PRESERVATION LTD |
1050 SW 1st Dr, Chiefland FL Multifamily Investment
Renter-occupied share is comparatively high for the neighborhood, supporting a stable tenant base; according to WDSuite’s CRE market data, ownership costs run elevated versus incomes locally, which tends to reinforce reliance on rentals.
Situated in the Gainesville, FL metro, this B-rated suburban neighborhood ranks 54 out of 114 metro neighborhoods, placing it around the metro median. Investor takeaway: demand is supported by a renter-occupied share near two-fifths of housing units, which is in the top quintile nationally, signaling depth in the tenant pool for workforce-oriented product.
Occupancy for the neighborhood is reported at the neighborhood level and has trended lower over the last five years, with current levels indicating some leasing friction. That said, median contract rents in the neighborhood have risen over the same period, suggesting pricing has held even as operators balance lease-up and retention. Rent-to-income ratios remain moderate, which can help manage affordability pressure and support renewals.
Within a 3-mile radius, demographics point to a modest population decline in recent years alongside stable household counts, and projections indicate an increase in total households with smaller average household sizes. For investors, that shift typically expands the renter pool and supports occupancy stability across a range of unit types.
Local amenities are limited (low density of cafes, parks, and pharmacies), while basic retail and services are present at lighter suburban levels. Average school ratings in the neighborhood are below national norms, which may require targeted leasing strategies for family renters. The median home value has appreciated meaningfully over five years and sits high relative to incomes (top decile nationally on value-to-income), a context that often sustains rental demand by keeping ownership a higher-cost alternative.
The average construction year for nearby housing stock is 1976. With a 1981 vintage, the property is slightly newer than the neighborhood average, positioning it for value-add through selective interior upgrades and modernization of building systems to improve competitive standing versus older stock.
Comparable safety data at the neighborhood level is not reported in WDSuite for this location. Investors typically benchmark conditions against metro-level peers and historical trends, and pair third-party data with on-the-ground diligence to assess resident retention and operating risk.
This 54-unit, 1981-vintage asset aligns with workforce demand in a suburban Gainesville-area neighborhood that sits around the metro median on overall performance. Renter-occupied share is comparatively high and home values are elevated relative to incomes, factors that typically support a durable tenant base and steady leasing. Based on CRE market data from WDSuite, neighborhood occupancy has softened, but rent levels have advanced, implying room for experienced operators to focus on renewal management and targeted upgrades.
Forward-looking 3-mile demographics indicate household growth alongside smaller household sizes, which can expand the renter pool over time. With amenities lighter than urban cores and school ratings below national averages, the value proposition will skew toward attainable rents, reliable management, and value-add execution to enhance retention and maintain pricing power.
- Renter demand depth: neighborhood renter-occupied share is high nationally, supporting leasing stability.
- Value-add potential: 1981 vintage offers scope for selective upgrades to improve competitive positioning.
- Ownership costs vs. income: elevated ownership pricing reinforces reliance on multifamily rentals.
- Demographic tailwind: projected household growth within 3 miles supports a larger tenant base over time.
- Risks: softer neighborhood occupancy, limited amenities, and below-average school ratings may require focused leasing and retention strategies.