| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Poor |
| Demographics | 38th | Poor |
| Amenities | 13th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 440 S Mellonville Ave, Sanford, FL, 32771, US |
| Region / Metro | Sanford |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | 1984-06-01 |
| Transaction Price | $525,000 |
| Buyer | HOUSING & NEIGHBORHOOD DEV |
| Seller | --- |
440 S Mellonville Ave Sanford 20-Unit Multifamily
Neighborhood occupancy trends are competitive within the Orlando–Kissimmee–Sanford metro, supporting stable renter demand, according to WDSuite s CRE market data. Investors can underwrite steady operations with an eye on value-add positioning relative to older nearby stock.
Situated in a suburban pocket of Sanford, the property benefits from neighborhood fundamentals that are competitive among Orlando Kissimmee Sanford neighborhoods (ranked 93 out of 465 for occupancy), per WDSuite s CRE market data. While this speaks to stability at the neighborhood level, investors should still underwrite asset-specific leasing and renewal performance.
Amenity access is mixed. Grocery availability ranks competitively (159 of 465 metro neighborhoods; 76th percentile nationally), which supports day-to-day livability. However, counts for parks, pharmacies, cafes, and restaurants are limited within the immediate neighborhood, so resident convenience will rely on nearby corridors rather than walkable options.
Renter concentration in the immediate neighborhood is modest, indicating a larger share of owner-occupied housing at the micro level; this typically means deeper demand for well-managed workforce-oriented units but may require targeted marketing. Within a 3-mile radius, demographics show population and household growth over the last five years, with further expansion projected, pointing to a larger tenant base and support for occupancy stability.
Rents in the neighborhood sit above the national median (77th percentile) with notable five-year growth, while home values land near the national middle. This combination suggests pricing power when product is positioned well, though investors should weigh potential competition from ownership options in certain subsegments. Average construction year in the area trends older; with a 1972 vintage, this asset can outperform older stock after focused renovations and modernization.
Comparable, neighborhood-level crime benchmarking was not available from WDSuite for this specific area at the time of publication. Investors typically compare local patterns with city and metro trends and incorporate property-level measures (lighting, access control) when modeling retention and operating expenses.
Proximity to diversified employers supports renter demand via commute convenience and a broad occupational base, including technology, insurance, logistics, restaurant corporate, and environmental services.
- Symantec cybersecurity/software (6.5 miles)
- Prudential insurance (24.9 miles)
- Ryder logistics & trucking (25.8 miles)
- Darden Restaurants restaurant corporate (28.7 miles) HQ
- Waste Management environmental services (39.0 miles)
The 20-unit, 1972-vintage asset offers an approachable value-add profile in a neighborhood where occupancy ranks competitively within the Orlando Kissimmee Sanford metro. Based on commercial real estate analysis from WDSuite, local rents track above the national median while home values remain near mid-range levels, a mix that can sustain renter reliance on multifamily housing when units are well maintained and priced appropriately.
Within a 3-mile radius, recent and projected gains in population and households point to a larger tenant base and support for lease-up and renewals. Given the asset s vintage, investors should plan for targeted capital projects (systems, interiors, and common areas) to strengthen competitive positioning versus older neighborhood stock and to capture rent premiums without overreliance on outsized growth assumptions.
- Competitive neighborhood occupancy within the metro supports stability
- 1972 vintage allows value-add upgrades to outperform older local stock
- Rents above national median with growing 3-mile renter pool underpin demand
- Diverse nearby employers provide a broad occupational base for tenants
- Risks: limited walkable amenities and capex needs typical of 1970s assets