| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 34th | Poor |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1701 Hamilton Ave, Panama City, FL, 32405, US |
| Region / Metro | Panama City |
| Year of Construction | 1980 |
| Units | 24 |
| Transaction Date | 2012-10-26 |
| Transaction Price | $5,032,700 |
| Buyer | FOXWOOD ACQUISITION PARTNERS LP |
| Seller | SP FOXWOOD LP |
1701 Hamilton Ave Panama City Multifamily Opportunity
The surrounding neighborhood shows a high share of renter-occupied housing units that supports a deeper tenant base, according to WDSuite’s CRE market data. While occupancy has been variable at the neighborhood level, demand fundamentals are supported by service amenities and proximity to daily needs.
Located in an inner-suburb pocket of Panama City, the neighborhood carries a B rating and ranks above the metro median (26 of 54 neighborhoods), signaling competitive livability for workforce renters. The property’s 1980 vintage is newer than the area’s average construction year (1963), which can offer a competitive edge versus older stock, though investors should plan for modernization of aging systems typical of assets from this era.
Daily-life convenience is a relative strength: restaurants and cafes are plentiful for the metro and land in the top quartile nationally, and childcare availability also ranks in the top quartile nationally. Grocery access is serviceable at the neighborhood level. Park space and pharmacies are limited nearby, which may reduce recreational and on-foot errand options compared with top-tier suburban nodes.
At the neighborhood scale (not the property), renter-occupied housing units account for a large share of stock and sit near the top of national comparisons, indicating depth in the tenant pool and potential leasing velocity for multifamily operators. However, neighborhood occupancy has trended softer than national benchmarks recently, so active leasing and retention programs may be required to sustain stability.
Within a 3-mile radius, demographic statistics show population has contracted while households are expected to increase over the next five years, implying smaller household sizes and a potential renter pool expansion. Median household incomes have risen materially and rents have also climbed, suggesting investors should emphasize unit quality and lease management to balance pricing power with retention. Average school ratings track below national norms, which may tilt demand toward smaller households and adult renters rather than school-driven moves.
Safety indicators are mixed when compared nationally. Overall crime levels benchmark around the lower third nationally, indicating the area is less safe than the median U.S. neighborhood, while property offenses compare relatively better (above the national median). Violent offense measures sit below national medians (i.e., less favorable), warranting routine security and lighting best practices for multifamily operations.
Year-over-year estimates indicate volatility in reported offense rates at the neighborhood level, so investors should evaluate recent trends and property-level mitigation (access control, cameras, and on-site presence) and compare against other Panama City submarkets for context.
WDSuite does not list distance-qualified anchor employers with reliable proximity data for this address; investors should verify local employment nodes to gauge commuter demand.
This 24-unit, 1980-vintage asset sits in an inner-suburban neighborhood that ranks above the metro median, combining serviceable convenience with a renter-heavy housing base. The property’s newer-than-area-average vintage can be positioned competitively against older stock with targeted renovations and system updates. At the neighborhood level, occupancy has been softer than national norms, but the high share of renter-occupied units indicates depth in the tenant base and potential leasing velocity. According to CRE market data from WDSuite, local amenities and renter concentration support long-run demand, though affordability pressure requires attentive lease management.
Within a 3-mile radius, population has edged down while households are projected to rise, pointing to smaller household sizes and a broader renter pool over the forecast period. Rising incomes and rent levels suggest room for value-add execution focused on durability and resident experience, while below-average school ratings and mixed safety indicators call for prudent operations and resident services to support retention.
- Renter-heavy neighborhood supports depth of tenant base and potential leasing velocity.
- 1980 vintage is newer than local average, offering value-add and modernization upside against older competitors.
- Amenities (food, cafes, childcare) are competitive for the metro and top quartile nationally, reinforcing daily-life convenience.
- Forecast rise in households within 3 miles suggests a broader renter pool despite modest population decline.
- Risks: softer neighborhood occupancy, mixed safety metrics, and affordability pressure require proactive leasing and resident retention.