| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Good |
| Demographics | 70th | Best |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 Gilliam St, Wildwood, FL, 34785, US |
| Region / Metro | Wildwood |
| Year of Construction | 1991 |
| Units | 42 |
| Transaction Date | 2016-09-15 |
| Transaction Price | $1,185,348 |
| Buyer | HALLMAR WILDWOOD TERRACE LLC |
| Seller | WILDWOOD TERRACE LTD |
500 Gilliam St, Wildwood FL Multifamily Investment
1991-vintage, 42-unit asset in an owner-leaning area where neighborhood occupancy trends are competitive among The Villages submarkets, according to WDSuite’s CRE market data. The setting supports steady renter demand while offering potential to reposition against older nearby stock.
Wildwood sits within The Villages metro and scores near the top among 33 metro neighborhoods for overall livability. Amenities are a local strength: access to parks, pharmacies, groceries, and everyday retail ranks in the top quartile among peer neighborhoods, with amenity density trending above national midpoints. For investors, this tends to support lease retention and day-to-day convenience that underpins occupancy stability.
Home ownership costs are elevated relative to incomes locally, placing the neighborhood in a higher national percentile for value-to-income and home values. In practical terms, a high-cost ownership market can reinforce renter reliance on multifamily housing and support pricing power, especially for well-managed properties offering more accessible monthly housing costs.
Within a 3-mile radius, demographics skew older with smaller household sizes and rising incomes, and projections indicate population growth alongside a notable increase in households over the next five years. A larger household base with a modest renter concentration — roughly about one-fifth of housing units are renter-occupied within 3 miles — suggests a growing but still selective tenant pool, favoring well-positioned properties that meet downsizing and convenience-driven preferences. This aligns with workforce and retiree demand profiles common to suburban Florida.
The subject property’s 1991 construction is newer than the neighborhood’s average vintage from the early 1980s. That relative age advantage can reduce near-term competitive pressure versus older inventory while still leaving room for targeted modernization to lift rents and drive appeal. Neighborhood schools rate mixed versus national benchmarks; investors typically focus more on amenities and healthcare access here, which are competitive among The Villages neighborhoods.
Safety indicators compare favorably at the national level: the neighborhood sits in higher national percentiles for overall safety, with property and violent offense measures trending in the top quartile nationally. Within the 33-neighborhood The Villages metro, however, the area tracks below the metro median, indicating more middling performance locally.
Recent patterns are mixed and worth monitoring. Property-related incidents have improved materially year over year, while the violent offense rate increased off a low base. For underwriting, this points to stable national-relative positioning with localized variability; investors may want to emphasize lighting, access control, and resident screening to support retention and operational consistency.
The employment base within commuting range blends essential services and corporate offices that can anchor renter demand and retention. Nearby employers include Waste Management, Symantec, and Prudential, providing a diversified white- and blue-collar draw.
- Waste Management — environmental services (8.6 miles)
- Symantec — software & cybersecurity (41.6 miles)
- Prudential — financial services (44.5 miles)
This 42-unit, 1991-vintage property benefits from a high-amenity suburban setting and a high-cost ownership market that supports rental demand. Neighborhood occupancy is competitive among The Villages neighborhoods, and, according to CRE market data from WDSuite, the area’s amenity access and national-relative safety profile help underpin tenant retention. The asset’s vintage is newer than the neighborhood average, suggesting room for targeted upgrades to improve positioning versus older stock.
Within a 3-mile radius, population growth and a projected increase in households point to renter pool expansion, with incomes trending upward. Renter-occupied share remains moderate but is expected to rise, implying incremental depth in demand. The main underwriting considerations are the owner-leaning housing mix and locally mixed safety ranking within the metro, both of which can be managed through product differentiation and disciplined operations.
- Amenity-rich suburban location supports retention and day-to-day convenience.
- High-cost ownership market sustains multifamily demand and pricing power.
- 1991 vintage offers competitive positioning versus older neighborhood stock with value-add upside.
- 3-mile radius shows population and household growth, expanding the tenant base.
- Risks: owner-leaning tenure and below-median metro safety ranking require disciplined operations.