| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 29th | Poor |
| Amenities | 48th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5001 SW 20th St, Ocala, FL, 34474, US |
| Region / Metro | Ocala |
| Year of Construction | 1998 |
| Units | 76 |
| Transaction Date | 2017-08-28 |
| Transaction Price | $117,900 |
| Buyer | PAQUETTE REBECCA JOAN |
| Seller | BRIZEE BERNARD N |
5001 SW 20th St, Ocala FL Multifamily Investment
Stabilized renter demand and a competitive inner-suburb location point to steady operations, according to WDSuite’s CRE market data. With 1998 construction, the asset should compete well against older nearby stock while allowing room for targeted value-add.
Location and renter demand: The property sits in an Inner Suburb of Ocala that ranks competitive among 113 metro neighborhoods (37th of 113). The neighborhood’s occupancy rate is 90.5%, and the renter-occupied share is approximately 81% of housing units, indicating a deep tenant base that can support lease-up and retention in typical cycles, based on CRE market data from WDSuite.
Amenities and daily needs: Grocery and pharmacy access test well for this area (both above average locally), while restaurants are present though not dense; cafes and parks are limited. For investors, this mix supports day-to-day convenience that helps retention, but the limited parks/cafes suggests on-site amenities may matter more for competitiveness.
Demographics within 3 miles: The population and household counts have grown over the past five years and are projected to expand further over the next five years, pointing to a larger tenant base and supporting occupancy stability. Household incomes are rising in the 3-mile area, which, together with forecast rent growth, suggests the renter pool is broadening even as affordability management remains important for lease renewals.
Affordability and rent context: Neighborhood median contract rent levels are moderate by national standards, and rent-to-income ratios indicate manageable but notable affordability pressure. In this context, disciplined pricing and value-forward amenities can support retention without overextending renters, a balance that aligns with investor-focused commercial real estate analysis.
Vintage and competitive positioning: With an average neighborhood construction year of 1992, a 1998-vintage asset offers a relative edge versus older stock while still benefiting from targeted modernization to reinforce leasing strength and justify incremental rent steps.
Safety indicators for the neighborhood trail national norms, with WDSuite data placing the area in lower national percentiles for both violent and property offenses compared with neighborhoods nationwide. This calls for prudent on-site security measures and resident engagement to support tenant retention.
Recent year trends show an uptick in violent offenses and a smaller increase in property offenses. Investors should underwrite to higher operating attention (lighting, access control, partnerships with local patrols) and consider how security-forward improvements can enhance leasing and renewal outcomes relative to competing Ocala neighborhoods.
Regional employment access is diversified, with commutable roles that can support workforce renter demand and retention. Notable nearby employer:
- Waste Management — waste services offices (29.7 miles)
This 76-unit, 1998-vintage asset benefits from a renter-heavy neighborhood, steady occupancy around the low-90% range, and convenience retail that supports day-to-day living. The age profile is newer than the area’s average vintage, suggesting competitive positioning versus older stock, with selective upgrades offering potential to capture incremental rent while maintaining retention.
Within a 3-mile radius, population and household growth, alongside rising incomes, point to a larger tenant base over the medium term and support for stabilized operations. According to CRE market data from WDSuite, neighborhood rent levels are moderate relative to incomes, implying manageable affordability pressure if pricing and amenity strategies remain disciplined. Key underwriting considerations include proactive security measures and monitoring ownership alternatives that could compete with renting.
- Renter-heavy area and ~90% neighborhood occupancy support stable demand and renewals.
- 1998 construction provides a relative edge versus older stock, with value-add potential via targeted modernization.
- 3-mile demographic growth and rising incomes expand the prospective tenant base.
- Amenity mix (strong grocery/pharmacy access) supports day-to-day convenience and retention.
- Risks: below-average safety metrics and potential competition from ownership options require pricing discipline and security-forward operations.