| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 40th | Fair |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 556 N Goldenrod Rd, Orlando, FL, 32807, US |
| Region / Metro | Orlando |
| Year of Construction | 2004 |
| Units | 23 |
| Transaction Date | 2013-12-27 |
| Transaction Price | $1,600,000 |
| Buyer | ORLANDO LEASED HOUSING ASSC XI LLLP |
| Seller | CHAPEL TRUST LTD |
556 N Goldenrod Rd Orlando Multifamily Opportunity
Neighborhood-level data points to steady renter demand and mid-90s occupancy stability in the surrounding area, according to WDSuite’s CRE market data. With a 2004 vintage relative to older nearby stock, the asset is positioned to compete for tenants seeking practical value in Orlando’s inner suburbs.
Located in an inner-suburb pocket of Orlando, the property benefits from a renter-occupied share of housing units around the neighborhood at roughly 57%. That elevated renter concentration suggests a deeper tenant base and supports leasing durability for small multifamily assets. Neighborhood occupancy is reported at about 92.2% (neighborhood-level), indicating generally stable absorption, though investors should underwrite to modest softening risk.
Relative to the metro, the neighborhood’s overall rank sits in the lower half (365 out of 465 Orlando-Kissimmee-Sanford neighborhoods), yet several fundamentals are competitive. Grocery access rates are stronger than many peers (nationally upper half), while cafes, parks, and pharmacies are limited locally. For family renters, average school ratings in the area trend below national norms, which may influence unit mix positioning and marketing.
Construction in the immediate area skews older (average 1984), which makes a 2004 build comparatively newer and potentially more competitive than legacy stock. Median contract rents at the neighborhood level have risen over the last five years alongside household income gains, balancing some affordability pressure (rent-to-income ratios near the national lower quintiles) and suggesting measured pricing power if amenities and operations are well executed. This commercial real estate analysis points to demand that is present but price-sensitive.
Within a 3-mile radius, population and household counts have grown in recent years with additional gains projected, implying a larger tenant pool over time. Forecasts also indicate smaller average household sizes ahead, which can support demand for well-managed smaller-unit mixes and sustain occupancy.
Safety indicators for the neighborhood are mixed. Compared with 465 neighborhoods in the Orlando-Kissimmee-Sanford metro, the area ranks 178th on crime, indicating conditions that are below the metro median for safety. Nationally, the area trends below the midpoint as well. However, recent trend data shows improvement: estimated property offenses declined year over year, and violent offense rates also eased, signaling a directional positive that investors can monitor during hold.
As always, safety is highly localized and can vary block to block; investors should pair these neighborhood-level metrics with on-the-ground diligence and historical trend reviews when evaluating tenant retention and operating expenses.
Proximity to established corporate employers supports a steady commuter tenant base and can aid retention for workforce-oriented units. Nearby anchors include Ryder, Prudential, Darden Restaurants, Symantec, and Airgas Specialty Products.
- Ryder — logistics and fleet (9.8 miles)
- Prudential — financial services (10.4 miles)
- Darden Restaurants — restaurant group (12.4 miles) — HQ
- Symantec — cybersecurity offices (16.0 miles)
- Airgas Specialty Products — industrial gases (29.4 miles)
Built in 2004, this 23-unit asset is newer than much of the surrounding housing stock, offering relative competitiveness versus 1980s-era properties while leaving room for targeted modernization and operational upgrades. Neighborhood-level occupancy around 92% and a renter-occupied share near 57% point to a reasonably deep tenant base and generally steady leasing, according to CRE market data from WDSuite. Higher ownership costs in the area reinforce reliance on rentals, while grocery access is solid even as schools and certain amenities trail national norms.
Within a 3-mile radius, recent population and household growth—and projections for continued increases with smaller household sizes—signal ongoing renter pool expansion that can support occupancy stability. Investors should underwrite to price sensitivity, given rent-to-income dynamics and mixed amenity signals, and plan for mid-cycle capital needs as systems age past the 20-year mark.
- 2004 vintage is competitive versus older local stock, with selective value-add potential
- Neighborhood renter concentration and ~92% occupancy support demand stability
- 3-mile population and household growth suggest a larger tenant base over time
- Ownership costs bolster rental reliance, offering measured pricing power
- Risks: below-median safety metrics and price-sensitive demand require conservative underwriting