| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 53rd | Good |
| Demographics | 51st | Good |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3734 Transmitter Rd, Panama City, FL, 32404, US |
| Region / Metro | Panama City |
| Year of Construction | 1977 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3734 Transmitter Rd Panama City Multifamily Investment
Neighborhood data indicate solid income fundamentals and moderate rent-to-income levels that can support stable tenant retention, according to WDSuite’s CRE market data. Metrics referenced below reflect the surrounding neighborhood, not this specific property.
The property sits in a suburban pocket of Panama City where overall neighborhood quality is rated B and ranks 21 out of 54 metro neighborhoods — competitive among Panama City submarkets and above the metro median for several livability factors. Amenity access trends as moderate (amenity rank 22 of 54; 42nd percentile nationally), with grocery options comparatively accessible and parks coverage performing above national midrange. Average school ratings track below national norms, an element to monitor for family-oriented leasing.
Housing dynamics point to healthy renter pricing power relative to incomes. Neighborhood median contract rents benchmark in the upper tier locally (rank 8 of 54; 78th percentile nationally), while rent-to-income sits at a level that suggests manageable affordability pressure for many renters. Home values are elevated for the area with incomes to match, which can reinforce reliance on multifamily rentals and support lease retention.
Renter demand and tenure: The share of housing units that are renter-occupied in the neighborhood is on the lower side, indicating a thinner but durable renter base; investors should plan marketing to capture workforce households and move-up renters. Neighborhood occupancy trends currently trail the metro median (rank 35 of 54), so diligent leasing and renewal management are important to sustain property-level performance.
Demographics within a 3-mile radius: Household counts have edged higher despite a modest population dip, implying smaller household sizes and a gradual expansion of the renter pool. Income levels have risen meaningfully over the last five years, and forecasts call for further increases alongside growth in households — both supportive of multifamily demand and achievable rent levels. Forward-looking projections also indicate rent growth in the area, which, if realized, can provide a tailwind to NOI.
Vintage and positioning: Built in 1977 versus a neighborhood average construction year of 1990, the asset is older than nearby stock. This creates potential value-add and modernization angles to enhance competitiveness against newer comparables while budgeting for near- and medium-term capital needs.
Safety indicators for the neighborhood are mixed relative to broader benchmarks. Within the Panama City metro, the neighborhood’s crime rank sits in the lower half (39 out of 54), signaling it is below the metro average on this measure. Nationally, overall crime positions in the lower percentiles, while property-related incidents trend around the national midpoint and violent offense measures are weaker than national midrange.
Recent year-over-year changes show volatility in reported offense rates locally. For investors, the takeaway is to underwrite with conservative assumptions, monitor trendlines, and emphasize lighting, access control, and tenant screening to support retention and occupancy stability.
This 30-unit, 1977-vintage asset offers a straightforward value-add story in a neighborhood with strong income fundamentals and rent levels that remain supportable relative to earnings. Based on commercial real estate analysis from WDSuite, neighborhood rents benchmark in the upper tier locally while rent-to-income remains moderate, suggesting room for disciplined rent growth alongside focused renewal management. The older vintage versus nearby stock points to modernization potential that can sharpen competitive positioning.
Counterpoints include neighborhood occupancy running below the metro median and safety metrics that trail national midrange; both argue for conservative lease-up and expense assumptions. Demographic trends within a 3-mile radius indicate rising household counts and higher incomes over time, which can expand the tenant base and support stabilized occupancy as improvements are executed.
- 1977 vintage supports value-add and modernization to compete with newer stock
- Neighborhood rents in upper local tier with moderate rent-to-income, supporting pricing power
- Rising household counts and incomes within 3 miles broaden the renter pool
- Risk: Neighborhood occupancy below metro median requires proactive leasing and renewals
- Risk: Safety indicators trail national midrange; underwrite for security measures and monitoring