| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Good |
| Demographics | 49th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3227 NE 47th Ter, Silver Springs, FL, 34488, US |
| Region / Metro | Silver Springs |
| Year of Construction | 1982 |
| Units | 69 |
| Transaction Date | 2015-03-16 |
| Transaction Price | $10,250,000 |
| Buyer | CENIZO VENTURES LLC |
| Seller | SERENITY APARTMENTS AT SILVER SPRINGS LL |
3227 NE 47th Ter Silver Springs Value-Add Multifamily
Neighborhood occupancy has been steady and renter demand is supported by local household growth, according to WDSuite’s CRE market data. These indicators point to durable leasing potential in Silver Springs relative to the Ocala metro.
Situated in the Silver Springs area of the Ocala, FL metro, the neighborhood ranks 9 out of 113 and is competitive among Ocala neighborhoods for overall livability (A rating). The local renter-occupied share sits around one-third of housing units, indicating a defined tenant base without the volatility often seen in dense urban districts. Neighborhood occupancy is near the metro middle yet stable, supporting predictable operations for well-managed multifamily assets.
Everyday convenience is a strength: groceries, pharmacies, parks, and restaurants index above many peers in the region, while cafes are comparatively limited. This mix benefits workforce renters who prioritize quick access to necessities and outdoor recreation. Median contract rents in the neighborhood have risen over the past five years, and rent-to-income ratios remain moderate by national standards—conditions that can support retention and measured pricing power.
Within a 3-mile radius, recent population and household growth—along with forecasts that point to further gains—expand the potential renter pool and underpin occupancy stability. Household sizes are edging smaller over time, which can translate into steady demand for well-configured units and functional amenities. Home values are lower than many national peers, meaning ownership is relatively more accessible than in high-cost metros; for investors, this suggests some competition from entry-level ownership but also a broad base of renters who prefer multifamily convenience.
The neighborhood’s average construction vintage skews mid-1980s. Properties from this era can remain competitive with targeted renovations, system updates, and amenity refreshes, providing room for value-add execution where capital plans are well prioritized.
Safety trends are mixed. The neighborhood’s crime rank is 112 out of 113 within the Ocala metro, indicating crime levels that are below metro averages, and WDSuite’s national percentile places the area below the national midpoint. Recent estimates show a year-over-year uptick in property and violent incidents, so investors should underwrite with practical security measures and tenancy screening while monitoring local trendlines.
As with any submarket-level metric, these indicators reflect neighborhood-wide conditions rather than a specific property. Operators who invest in lighting, access controls, and responsive management practices often see improved resident satisfaction and retention relative to the broader area.
Nearby employment is diversified at the regional level, supporting commuter demand from workforce renters. Listed below are representative employers within driving range that contribute to the broader jobs base.
- Waste Management — environmental services (28.4 miles)
Constructed in 1982, the property is slightly older than the neighborhood’s mid‑1980s average—an age profile that supports a clear value‑add path through unit renovations, exterior upgrades, and selective system modernizations. Neighborhood occupancy has been stable and the renter-occupied share near one-third indicates a defined tenant base; combined with 3‑mile population and household growth, these dynamics support durable demand and leasing continuity.
Home values in this part of the Ocala metro are comparatively accessible versus many national markets, which can introduce some competition from ownership. Even so, moderate rent-to-income levels and steady household gains suggest room for disciplined rent optimization without overextending affordability. According to CRE market data from WDSuite, neighborhood rents have trended upward over the past five years, reinforcing a thesis centered on operational execution and targeted capital improvements rather than outsized market beta.
- Clear value-add potential from 1982 vintage via renovations and system updates
- Stable neighborhood occupancy and a defined renter base support leasing continuity
- 3-mile population and household growth expand the tenant pool, aiding retention
- Measured rent-to-income levels create room for disciplined pricing and renewal strategy
- Risk: neighborhood safety ranks below metro averages—underwrite security and management accordingly