| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 72nd | Best |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10700 Hobbit Cir, Orlando, FL, 32836, US |
| Region / Metro | Orlando |
| Year of Construction | 2001 |
| Units | 24 |
| Transaction Date | 2022-06-29 |
| Transaction Price | $41,416,200 |
| Buyer | SREIT MYSTIC POINTE II LLC |
| Seller | MYSTIC POINTE II LTD |
10700 Hobbit Cir Orlando Multifamily Opportunity
Positioned in an A-rated Inner Suburb with high-income households and elevated ownership costs, the area sustains rental demand and supports retention, according to WDSuite’s CRE market data. Neighborhood metrics reflect the surrounding submarket, not the property, and point to a deep renter base alongside solid school quality.
The property sits in Orlando’s Inner Suburb near 10700 Hobbit Cir, within a neighborhood ranked 45th among 465 metro neighborhoods—top quartile in the Orlando-Kissimmee-Sanford region—supported by strong household incomes and a high-cost ownership market. Neighborhood-level median home values place the area in the top decile nationally, which tends to reinforce reliance on multifamily housing and support pricing power.
Neighborhood renter-occupied share is roughly half of housing units, indicating depth in the tenant base for a 24-unit asset. Neighborhood occupancy is in the high 80s; while this is below the national median, it still supports leasing velocity with disciplined management. Median contract rents in the neighborhood are also above national norms, aligning with the income profile and reinforcing the need for attentive lease management and renewals.
Schools in the neighborhood average around 4 out of 5 and score in the top quartile nationally, a family-friendly signal that can aid retention for larger units. Amenities are moderate by national comparison, with grocery and pharmacy access present but not dense; investors should underwrite convenience as adequate rather than a primary draw, and emphasize property-level services and maintenance responsiveness.
Construction in the immediate area skews relatively new by national standards. The subject’s 2001 vintage is slightly older than the neighborhood average year, suggesting potential value-add through targeted modernization and systems updates, while remaining competitive against older stock in broader metro comparisons.
Within a 3-mile radius, demographic data show notable population growth historically with further increases in households projected over the next five years. This trajectory implies a larger tenant base and supports occupancy stability and renewal strategies as more renters enter the market.
Neighborhood safety indicators are mixed when viewed against broader benchmarks. The area ranks 241st of 465 metro neighborhoods—around the metro median—and sits in the lower national percentiles for safety, indicating crime levels above the national average. That said, recent neighborhood estimates show a modest year-over-year decline in property offenses, which is a constructive directional signal to monitor.
For investors, the takeaway is practical: underwrite security-minded operations (lighting, access controls, and resident communication) and track trendlines rather than relying on a single-year snapshot. All references here reflect neighborhood conditions, not the property itself.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, notably in restaurant headquarters, financial services, logistics, software, and industrial gases.
- Darden Restaurants — restaurant headquarters (6.9 miles) — HQ
- Prudential — financial services (8.2 miles)
- Ryder — logistics and fleet services (8.6 miles)
- Airgas Specialty Products — industrial gases (13.1 miles)
- Symantec — software and cybersecurity (28.0 miles)
This 24-unit asset at 10700 Hobbit Cir benefits from a high-income, high-cost ownership neighborhood that supports durable multifamily demand and renewal velocity. Neighborhood occupancy sits below national medians but remains serviceable with focused leasing and renewals, while school quality and a diversified employer base help retention. The 2001 vintage suggests targeted value-add and capital planning for modernization, positioning the property competitively versus older metro stock.
According to CRE market data from WDSuite, neighborhood rents and home values trend above national norms, and 3-mile demographics point to continued population growth and an expanding household base—both supportive of a larger renter pool. Investors should balance these strengths against moderate amenity density and neighborhood safety positioning by emphasizing operational execution and resident experience.
- High-income Inner Suburb with elevated ownership costs that reinforce multifamily demand
- 3-mile population and household growth expand the tenant base and support occupancy stability
- 2001 vintage offers value-add via targeted unit and systems updates
- Proximity to diverse employers underpins leasing and retention
- Risks: neighborhood occupancy below national medians and safety positioning require disciplined operations