| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Poor |
| Demographics | 47th | Fair |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4700 Cason Cove Dr, Orlando, FL, 32811, US |
| Region / Metro | Orlando |
| Year of Construction | 1997 |
| Units | 23 |
| Transaction Date | 2013-11-29 |
| Transaction Price | $28,500,000 |
| Buyer | BELLA VITA APARTMENTS LLC |
| Seller | CONROY HOUSING PARTNERS LTD |
4700 Cason Cove Dr Orlando Multifamily Investment
Strong renter-occupied presence in the surrounding neighborhood supports multifamily demand and leasing continuity, according to WDSuite s CRE market data. Newer 1997 vintage relative to nearby stock positions the asset competitively while leaving room for targeted modernization.
Located in Orlando s inner-suburb fabric, the property sits in a neighborhood with a high share of renter-occupied housing units, indicating a deep tenant base for small and midsize multifamily assets. Neighborhood occupancy trends track below the metro median, suggesting that hands-on leasing and operational execution will be important for stabilizing performance, but the renter concentration supports ongoing demand for well-managed units.
Daily needs are well served: grocery access ranks competitive among Orlando neighborhoods (top-quartile locally and strong nationally), and restaurant density is similarly competitive. By contrast, park, cafe, childcare, and pharmacy density is limited, which may modestly reduce lifestyle convenience compared with amenity-rich submarkets. These mixed amenity signals point to workforce housing appeal rather than luxury positioning.
The property s 1997 construction is newer than the area s average vintage (1985). This generally supports competitive positioning versus older stock while still warranting capital planning for systems, interiors, and curb appeal to meet current renter expectations.
Within a 3-mile radius, recent population growth has been modest, and forward-looking projections indicate additional population gains alongside a larger household base, which can expand the renter pool and support occupancy stability. Neighborhood rents have risen over the last five years and sit above many peer areas in the metro, based on CRE market data from WDSuite, while the local rent-to-income profile suggests manageable affordability pressure that can aid retention with disciplined renewal management.
For investors weighing ownership alternatives in the area, home values are comparatively accessible relative to higher-cost coastal markets, which can introduce some competition with entry-level ownership. Even so, the neighborhood s high renter concentration tends to reinforce reliance on multifamily housing, supporting lease-up and renewal prospects for properties that deliver functional finishes and responsive onsite management.
Safety signals in the neighborhood are mixed relative to the Orlando-Kissimmee-Sanford metro. The area sits below national safety averages, and its crime rank places it below the metro median among 465 metro neighborhoods. That said, property-related offenses have declined meaningfully over the past year, indicating some improvement in conditions.
Investors should underwrite with prudent assumptions: emphasize lighting, access control, and resident engagement, and monitor trends, as violent-offense indicators have shown recent upward movement even as property-offense rates improved. Use submarket and corridor-level comps rather than block-level assumptions to avoid over- or under-estimating risk.
Nearby employment anchors span insurance, logistics, restaurant corporate services, and technology, supporting a diverse renter base and commute convenience for workforce tenants. The list below reflects notable employers within a practical commuting radius that can aid leasing stability.
- Prudential insurance (0.95 miles)
- Ryder logistics (3.32 miles)
- Darden Restaurants restaurant corporate services (5.66 miles) HQ
- Symantec cybersecurity (19.83 miles)
- Airgas Specialty Products industrial gases (21.35 miles)
This 23-unit, 1997-vintage asset benefits from a renter-heavy neighborhood that supports depth of demand, while its comparatively newer construction versus local averages provides a competitive edge against older stock. Neighborhood occupancy trends run below the metro median, so performance hinges on effective leasing and resident retention; however, sustained renter concentration and projected 3-mile population growth point to a stable tenant pipeline. According to commercial real estate analysis from WDSuite, neighborhood rents have advanced in recent years with a rent-to-income profile consistent with managed affordability, supporting renewal strategies over pure price-taking.
Forward-looking demographics within a 3-mile radius indicate population growth and a notable increase in households over the next five years, expanding the renter pool even as some shift toward ownership is projected. Targeted upgrades interiors, curb appeal, and operational enhancements can capture value relative to older competing properties, while prudent underwriting should account for mixed safety signals and the neighborhood s below-median occupancy rank.
- Newer 1997 vintage versus local average supports competitive positioning with manageable CapEx planning
- High renter-occupied share signals depth of tenant demand for workforce multifamily
- 3-mile projections show population and household growth, supporting lease-up and renewal stability
- Amenity mix favors daily needs (grocery, restaurants) over lifestyle features, aligning with value-focused positioning
- Risks: below-metro-median neighborhood occupancy and mixed safety trends warrant conservative underwriting and active management