| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 19th | Poor |
| Amenities | 20th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11322 SE 55th Avenue Rd, Belleview, FL, 34420, US |
| Region / Metro | Belleview |
| Year of Construction | 2005 |
| Units | 28 |
| Transaction Date | 2022-04-28 |
| Transaction Price | $6,950,000 |
| Buyer | RK BELLEVIEW I LLC |
| Seller | FRENCH CONSTRUCTION INCORPORATED |
11322 SE 55th Avenue Rd Belleview Multifamily Investment
Renter demand is supported by steady neighborhood occupancy and a growing 3-mile household base, according to WDSuite’s CRE market data. Ownership costs run relatively high versus incomes locally, which can help sustain reliance on rental housing.
Belleview’s rural setting delivers a quieter residential environment with limited neighborhood amenities; cafes, groceries, and parks are sparse, though pharmacy access is comparatively better than many peer areas in the Ocala metro. For investors, this typically points to car-dependent living and a resident base that prioritizes space and value over walkability.
Neighborhood occupancy is measured at 86.0%, signaling generally stable leasing conditions at the neighborhood level rather than property-specific performance. Renter concentration is modest (about three in ten housing units are renter-occupied), which suggests a primarily owner-occupied landscape but still a meaningful tenant base for multifamily.
Within a 3-mile radius, recent population growth and a notable increase in households indicate a larger tenant pool over the past five years, with further expansion anticipated over the next five. These trends tend to support occupancy stability and leasing velocity for well-managed assets.
Home values in the neighborhood sit near mid-market levels for Florida, while the value-to-income relationship trends on the higher side nationally. In practical terms, elevated ownership costs relative to incomes can reinforce rental demand and support retention, while the neighborhood’s low median rent-to-income ratio points to manageable rent burdens that can aid renewals and reduce turnover risk.
Safety indicators compare favorably at the national level: the neighborhood sits in the upper tier nationwide for lower violent and property offense rates, and recent data shows meaningful year-over-year improvement, based on WDSuite’s CRE market data. This positioning can support resident retention and broaden the renter pool.
Within the Ocala, FL metro’s 113 neighborhoods, the area performs better on national comparisons than on metro-relative rank, implying crime outcomes that are competitive nationally but not among the top performers locally. For investors, this suggests a generally stable safety profile while warranting routine, property-level prevention measures typical for the region.
Nearby employment is diversified at the regional level, with commuting patterns oriented to larger job centers. The following employer presence supports workforce housing demand within driving range.
- Waste Management — environmental services (18.3 miles)
This 28-unit asset benefits from a growing 3-mile household base, a renter pool supported by comparatively high ownership costs versus incomes, and a neighborhood rent-to-income profile that indicates manageable rent burdens. According to CRE market data from WDSuite, neighborhood occupancy is steady and safety trends rank well nationally, supporting tenant retention and leasing stability.
The rural location implies fewer walkable amenities, but it also aligns with resident preferences for space and value. With households and incomes projected to expand over the next five years within 3 miles, the submarket backdrop appears constructive for sustained demand, provided operations emphasize sensible pricing, tenant experience, and standard preventative maintenance.
- Expanding 3-mile resident and household base supports a larger tenant pool and steady leasing.
- Neighborhood rent-to-income profile suggests manageable rent burdens that can aid renewals.
- Nationally favorable safety indicators support retention and broaden prospective renter appeal.
- Elevated ownership costs relative to incomes can reinforce reliance on rental housing.
- Risks: rural amenity depth and below-metro safety rank warrant disciplined operations and tenant experience focus.