| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 27th | Poor |
| Amenities | 27th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2203 Beck Ave, Panama City, FL, 32405, US |
| Region / Metro | Panama City |
| Year of Construction | 1979 |
| Units | 24 |
| Transaction Date | 2009-08-12 |
| Transaction Price | $2,750,000 |
| Buyer | OAK RIDGE PARTNERS LLC |
| Seller | BRIARWOOD APARTMENTS INC |
2203 Beck Ave, Panama City Multifamily Investment
Steady renter demand in this inner-suburban pocket supports income durability, according to WDSuite’s CRE market data. Neighborhood occupancy trends are competitive within the Panama City metro, with pricing set by workforce fundamentals rather than luxury cycles.
Livability here leans toward everyday convenience, with strong grocery access and a solid cluster of restaurants nearby. Within the Panama City metro, grocery availability ranks competitive among 54 neighborhoods, while cafes, parks, and childcare are thinner in the immediate area, which tilts demand toward practical, drive-to amenities.
For investors, the neighborhood skews toward renter-occupied housing units, indicating a deeper tenant base and support for leasing velocity. This higher renter concentration is a positive signal for multifamily absorption and renewal prospects, especially for well-managed, needs-based product.
Neighborhood occupancy performance is competitive among 54 metro neighborhoods, and rents sit above national midpoints per WDSuite, suggesting stable workforce pricing rather than premium positioning. Median home values locally are lower than many national hubs, which can add some competition from ownership options; however, that same ownership landscape often keeps a reliable pool of renters in professionally managed communities, supporting lease retention.
Public school ratings in the neighborhood track below national peers, which can influence tenant mix toward singles and couples rather than school-driven demand. Demographic statistics aggregated within a 3-mile radius show recent population softness but forecast growth in households and incomes, pointing to a larger tenant base and improved rent coverage over time, based on WDSuite’s commercial real estate analysis.
Safety signals are mixed. Within the Panama City, FL metro, the neighborhood ranks in the lower tier for crime (rank 6 out of 54 neighborhoods), indicating relatively higher incident rates locally. At the national level, though, the neighborhood compares above the midpoint, with violent and property offense measures landing in higher national percentiles—suggesting it is comparatively safer than many neighborhoods nationwide, according to WDSuite’s CRE market data.
Recent year-over-year readings indicate an uptick in both violent and property offenses. Investors should weigh on-the-ground management practices, lighting and access control, and resident screening to maintain leasing stability and retention in line with neighborhood norms.
Built in 1979, the property offers value-add potential through interior modernization and targeted capital planning for aging systems, which can enhance competitiveness against older nearby stock. Neighborhood renter concentration supports a deeper tenant base, and occupancy has been competitive within the metro, according to CRE market data from WDSuite. With local home values generally more accessible than high-cost metros, professionally managed rentals can maintain steady demand and renewal potential.
Within a 3-mile radius, WDSuite data indicate recent softness in population but a forward outlook calling for household and income growth—factors that can expand the renter pool and support rent levels over time. Rent-to-income readings point to some affordability pressure, so asset strategy should balance rent growth with retention and renewal management to sustain occupancy.
- 1979 vintage with clear value-add and systems upgrades potential
- Renter-occupied concentration supports depth of tenant demand
- Neighborhood occupancy performance competitive within the Panama City metro
- Household and income growth forecast within 3 miles expands the renter pool
- Risk: affordability pressure and mixed amenity mix require disciplined rent and renewal strategy