| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Fair |
| Demographics | 43rd | Fair |
| Amenities | 23rd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1120 Florida St, Sanford, FL, 32773, US |
| Region / Metro | Sanford |
| Year of Construction | 1973 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1120 Florida St, Sanford FL Multifamily Investment
Neighborhood indicators point to steady renter demand and occupancy near the metro median; according to WDSuite’s CRE market data, the area’s renter-occupied share is elevated, supporting leasing durability for well-managed assets.
Livability and demand drivers in the surrounding Sanford inner-suburb neighborhood lean renter-friendly. The area’s renter-occupied share is among the highest in the metro (98th percentile nationally), signaling a deep tenant base and supporting multifamily absorption and renewals at stabilized properties. Overall occupancy in the neighborhood tracks around the metro median, which typically points to steady, rather than overheated, leasing conditions based on CRE market data from WDSuite.
Local amenities are serviceable for day-to-day needs: restaurants and grocery options score above national norms, while parks, cafes, childcare, and pharmacies are limited within the immediate neighborhood. For investors, this mix suggests practical convenience for residents without the premium pricing that often accompanies highly amenitized corridors.
Housing and affordability context: Neighborhood home values sit around national mid-range but, relative to local incomes, ownership skews high-cost (value-to-income ranks in a high national percentile). That dynamic tends to reinforce reliance on rental housing and can support pricing power for competitively positioned communities. At the same time, rent-to-income metrics indicate manageable affordability pressure, a positive signal for retention and delinquency management.
Vintage and value-add: The property’s 1973 construction is older than the neighborhood’s average vintage (late 1970s). For investors, that points to potential modernization and systems upgrades as near- to mid-term capital items, with corresponding value-add upside if renovations lift effective rents relative to older local stock.
Demographics (3-mile radius): The nearby population has grown modestly in recent years, with WDSuite’s projections indicating additional population and a notable increase in households over the next five years. A larger household count implies a broader renter pool and can support occupancy stability and leasing velocity for well-maintained assets.
Comparable safety context is important for underwriting, but WDSuite does not provide verified crime rankings for this neighborhood in the current dataset. Without ranked or percentile data, investors should benchmark the area against Sanford and Seminole County trend reports to frame relative conditions over time.
A practical approach is to pair city and county statistics with property-level operating data (tenancy stability, incident reporting, insurance trends). This keeps the analysis comparative and trend-focused rather than block-specific, which is more appropriate for investment decisions.
Nearby employers provide a diversified white-collar and services employment base that supports renter demand through commute convenience and stable payrolls. The anchors listed below reflect corporate offices within a feasible drive of the property.
- Symantec — software/security (4.8 miles)
- Prudential — financial services offices (22.5 miles)
- Ryder — logistics & fleet services (23.4 miles)
- Darden Restaurants — corporate offices (26.4 miles) — HQ
- Waste Management — environmental services offices (37.8 miles)
1120 Florida St offers exposure to a renter-heavy neighborhood where occupancy trends align with the metro median, supporting predictable operations rather than late-cycle volatility. The property’s 1973 vintage is earlier than the area’s average, pointing to value-add potential through targeted renovations and systems modernization. Homeownership remains comparatively costly versus incomes, which helps sustain reliance on multifamily housing, while rent-to-income levels suggest room for retention-focused lease management. According to CRE market data from WDSuite, restaurant and grocery access outperforms national norms locally, adding day-to-day convenience without pricing at a premium corridor level.
Within a 3-mile radius, recent growth has been modest, and WDSuite’s projections show additional population and household expansion over the next five years—signals of a gradually widening renter pool that can support occupancy stability for well-positioned assets. Investors should underwrite pragmatic capex for vintage systems and weigh amenity-light blocks against the asset’s value proposition and rent positioning.
- Renter-heavy neighborhood supports steady tenant demand and renewals
- 1973 construction offers renovation and systems-upgrade value-add potential
- Ownership costs remain relatively high versus incomes, reinforcing multifamily reliance
- Day-to-day amenities (grocery, dining) outpace national norms, aiding leasing
- Risk: amenity-light blocks and vintage systems require disciplined capex and management