| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Fair |
| Demographics | 43rd | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1104 Lake Jennie Dr, Sanford, FL, 32773, US |
| Region / Metro | Sanford |
| Year of Construction | 1998 |
| Units | 26 |
| Transaction Date | 1986-07-01 |
| Transaction Price | $125,100 |
| Buyer | HOUSING & NEIGHBORHOOD DEV |
| Seller | --- |
1104 Lake Jennie Dr Sanford Multifamily Opportunity
Renter-occupied housing is among the highest nationally in this neighborhood, supporting a deep tenant base and steady leasing, according to CRE market data from WDSuite. Occupancy trends have improved in recent years, suggesting demand resilience even as pricing power should be managed thoughtfully.
This Inner Suburb location in Sanford sits in a neighborhood rated C and ranks 350 out of 465 Orlando-Kissimmee-Sanford metro neighborhoods, indicating performance below the metro median but with identifiable strengths for workforce-oriented rentals. Restaurants are competitive among Orlando neighborhoods (rank 180 of 465), and grocery access is above the metro median (rank 212 of 465), while cafes, parks, and pharmacies are limited (ranks at the bottom of the metro). These dynamics point to everyday convenience without a heavy lifestyle amenity concentration.
The neighborhood’s renter-occupied share is very high (national 98th percentile), signaling strong renter concentration and a broad tenant pool for multifamily. With neighborhood occupancy near the national midpoint and improving over the last five years, owners can prioritize retention and targeted renewals over aggressive lease-up velocity when underwriting.
Within a 3-mile radius, households grew meaningfully in the last five years and are projected to expand further through 2028, implying a larger tenant base and continued demand for rental units. Population growth is expected to pick up after a relatively flat recent period, and average household size is trending lower, which typically supports steady absorption of smaller and mid-size units. Median incomes have risen and are forecast to continue increasing, which can help sustain rent levels as lease management remains disciplined.
Ownership dynamics also favor renter demand. Elevated home value-to-income ratios (high nationally) suggest a high-cost ownership market relative to local incomes, which often sustains reliance on multifamily housing. At the same time, the neighborhood’s rent-to-income levels are comparatively manageable, a setup that supports retention and reduces turnover risk for stabilized assets.
Comparable crime rankings for this neighborhood are not available in the current WDSuite release, so direct metro rank or national percentile context cannot be provided. Investors typically benchmark neighborhood safety against metro and national trends when data is available and incorporate on-site management practices and property design features into risk assessment.
Given the absence of a reported rank among the 465 metro neighborhoods, it is prudent to review trend data as it becomes available from WDSuite and to compare submarket-level patterns to underwriting assumptions, rather than relying on block-level impressions.
Nearby corporate offices provide a diversified employment base that supports renter demand and retention through commute convenience. Key employers in proximity include Symantec, Prudential, Ryder, Darden Restaurants, and Waste Management.
- Symantec — cybersecurity (4.7 miles)
- Prudential — insurance (22.5 miles)
- Ryder — logistics (23.5 miles)
- Darden Restaurants — restaurant group (26.4 miles) — HQ
- Waste Management — environmental services (37.7 miles)
Built in 1998, this 26-unit asset offers relatively newer vintage versus the neighborhood’s older housing stock, giving it competitive positioning while leaving room for targeted modernization to enhance rents and reduce near-term capital surprises. Strong renter concentration in the neighborhood underpins demand, and, based on CRE market data from WDSuite, occupancy has improved over the past five years, supporting stable operations if pricing is calibrated to local incomes.
Within a 3-mile radius, households expanded in recent years and are projected to grow further, pointing to a larger tenant base and potential for steady absorption. Elevated ownership costs relative to incomes reinforce reliance on rentals, while the area’s comparatively manageable rent-to-income levels can support retention. Risks include limited lifestyle amenities in the immediate neighborhood and sensitivity to income levels, which argues for measured rent growth assumptions and focused resident experience strategies.
- 1998 vintage provides competitive positioning vs. older local stock with selective value-add potential
- High renter concentration supports demand depth and leasing stability
- Household growth in the 3-mile radius expands the tenant base and supports occupancy
- Elevated ownership costs vs. incomes bolster reliance on rentals, aiding retention
- Risk: limited nearby amenities and income sensitivity warrant conservative rent growth assumptions