| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 42nd | Good |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2404 SE 5th Cir, Ocala, FL, 34471, US |
| Region / Metro | Ocala |
| Year of Construction | 1977 |
| Units | 100 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2404 SE 5th Cir Ocala Value-Add Multifamily
Neighborhood occupancy is exceptionally tight, according to WDSuite’s CRE market data, suggesting durable leasing conditions at the area level rather than the property itself. With a 1977 vintage and scale for operational efficiencies, this asset aligns with a pragmatic improvement thesis in an Inner Suburb location of Ocala, Florida.
Set in an Inner Suburb of Ocala, the immediate neighborhood shows exceptionally tight housing conditions with one of the strongest occupancy readings locally (ranked 1st out of 113 metro neighborhoods), indicating limited vacancy and supporting rent durability at the neighborhood level. Median contract rents in the neighborhood sit near the national middle, while incomes skew below national norms, pointing to a price-sensitive renter base and the need for careful lease management and renewal strategies.
The asset’s 1977 construction is slightly older than the neighborhood’s average vintage (1982), which can create clear value-add pathways through interior upgrades, system modernization, and curb appeal—useful for repositioning against older stock and driving retention without overreaching on pricing. Nearby retail and service density appears limited within the neighborhood itself, so residents likely rely on surrounding corridors for daily needs; investors should weigh this micro-location dynamic against the submarket’s tight occupancy backdrop.
Within a 3-mile radius, population and household counts have expanded in recent years, with further gains projected by 2028, supporting a larger tenant base over time. The share of housing units that are renter-occupied in the immediate neighborhood sits in the upper range locally, and within the 3-mile area renters represent a sizable portion of housing stock—signals that reinforce depth for multifamily leasing even as tenure patterns may evolve. Rising local incomes and projected rent growth in the 3-mile area suggest room for targeted improvements, yet investors should calibrate pricing to avoid affordability pressure and preserve occupancy stability—an approach consistent with disciplined commercial real estate analysis.
Safety indicators are mixed. Compared with the Ocala metro, the neighborhood ranks 90th out of 113 neighborhoods on crime, implying safety performance below the metro median. Nationally, levels track around the middle of the pack, with property offenses showing a year-over-year decline while reported violent incidents increased over the same period. Investors should underwrite conservative security measures and monitor trends rather than rely on block-level assumptions.
The broader labor shed features employment nodes that support commuter demand; proximity to regional corporate offices can aid leasing consistency for workforce renters. The list below highlights a notable employer reachable by car.
- Waste Management — environmental services (26.6 miles)
This 100-unit, 1977-vintage property offers a pragmatic value-add path in a neighborhood with exceptionally tight occupancy and a renter base that is meaningful across the immediate area and the 3-mile radius. Based on CRE market data from WDSuite, neighborhood-level occupancy strength and mid-market rent positioning point to potential pricing power with thoughtful upgrades, while lower local incomes call for disciplined rent setting to protect retention.
Population and household growth within 3 miles—alongside projected gains—support a larger tenant pool over time, while the property’s older vintage creates clear upgrade levers to compete against aging stock. Micro-location amenity density appears limited, so underwriting should emphasize access to surrounding corridors and operational execution to sustain leasing velocity.
- Neighborhood-level occupancy ranked 1st of 113 supports leasing stability
- 1977 vintage enables targeted value-add and systems modernization
- Expanding 3-mile population and households reinforce tenant base growth
- Mid-market neighborhood rents with income sensitivity require careful pricing
- Risks: amenity-light micro location and mixed safety trends warrant conservative underwriting