| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 62nd | Good |
| Amenities | 34th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1427 W 30th St, Panama City, FL, 32405, US |
| Region / Metro | Panama City |
| Year of Construction | 1985 |
| Units | 29 |
| Transaction Date | 2022-05-20 |
| Transaction Price | $3,750,000 |
| Buyer | VCP CREEKSIDE LLC |
| Seller | CREEKSIDE ESTATES PC LLC |
1427 W 30th St Panama City 29-Unit Multifamily
Neighborhood occupancy trends sit in the mid-90s, supporting stable leasing conditions according to WDSuite’s CRE market data. Moderate renter concentration and steady rent growth signal durable demand without overreliance on concessions.
Located in an Inner Suburb of Panama City, the neighborhood carries an A- rating and ranks 12 out of 54 locally, making it competitive among Panama City neighborhoods. Occupancy in the neighborhood is strong (ranked 5 of 54), indicating resilient tenant stickiness and fewer prolonged vacancies relative to much of the metro.
Amenities are mixed: childcare access is comparatively strong (ranked 6 of 54), and park access trends above metro median, while dining and café density is limited and pharmacies are sparse. For investors, that typically translates to quieter, residential-oriented demand drivers rather than lifestyle retail, with leasing supported by everyday services and proximity to employment corridors.
Within a 3-mile radius, demographics show a modest population pullback over the last five years alongside smaller average household sizes. Projections indicate a continued shift toward smaller households by 2028 with an increase in total households, which can expand the renter base and support occupancy stability even as population growth softens. Household incomes have risen meaningfully in recent periods, improving the depth of qualified renters and supporting rent collections.
Home values in the neighborhood are elevated for the area, and the value-to-income ratio sits in the top quartile nationally, which tends to reinforce reliance on multifamily rentals and supports pricing power when managed carefully. Rent-to-income ratios remain moderate in this neighborhood context, suggesting room for operational optimization without outsized retention risk.
The property’s 1985 vintage is older than the neighborhood’s average construction year (1995). That age profile often presents value-add opportunities through targeted renovations and system upgrades, with the potential to improve positioning versus newer competitive stock while planning for capital expenditures.
Safety indicators are mixed. The neighborhood’s crime rank is 38 out of 54 within the Panama City metro, which is above the metro median, but national percentiles for violent and property offenses sit below the national median. This places the area as comparatively stronger within the metro, yet not a top performer versus neighborhoods nationwide.
Recent year-over-year estimates point to an uptick in reported offense rates. Investors should underwrite with pragmatic assumptions around security measures and operating protocols, monitor local trendlines, and evaluate insurance and loss-prevention strategies as part of the business plan.
This 29-unit asset sits in a competitive Panama City neighborhood with above-median metro occupancy and a renter base supported by rising incomes and smaller household sizes within a 3-mile radius. According to CRE market data from WDSuite, neighborhood occupancy outperforms much of the metro, while rent levels and a moderate rent-to-income profile support steady collections and retention. Elevated local home values relative to incomes reinforce multifamily demand, benefiting well-managed assets.
Built in 1985, the property is older than the neighborhood’s average stock, pointing to clear value-add pathways through unit renovations and system updates. Amenity density skews toward essential services rather than lifestyle retail, aligning demand with workforce and long-term renters, though operators should plan for thoughtful marketing and resident programming to offset lighter retail activation nearby.
- Strong neighborhood occupancy supports stable leasing and fewer prolonged vacancies
- Elevated ownership costs locally reinforce reliance on rentals and pricing power
- 1985 vintage offers actionable renovation and system-upgrade upside with planning
- Demand anchored by essential services; lighter dining/retail density requires targeted marketing
- Risk: safety trendlines show recent upticks—budget for security, insurance, and loss prevention