| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 62nd | Good |
| Amenities | 34th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3913 Pisa Dr, Panama City, FL, 32405, US |
| Region / Metro | Panama City |
| Year of Construction | 1974 |
| Units | 80 |
| Transaction Date | 2025-08-22 |
| Transaction Price | $9,650,000 |
| Buyer | AZTEC VILLA RE LLC |
| Seller | AZTEC VILLA LLC |
3913 Pisa Dr Panama City Value-Add Multifamily
Neighborhood occupancy is strong and renter demand appears resilient, according to WDSuite’s CRE market data, positioning this asset for stable performance with potential to enhance income through targeted upgrades.
Rated A- and ranked 12 out of 54 Panama City neighborhoods, the area is above the metro median and competitive for investors seeking stable renter demand, based on WDSuite’s CRE market data. Neighborhood occupancy trends sit in the top quartile nationally, a signal that supports lease-up and retention for multifamily assets.
Livability is balanced for an inner suburb: parks and childcare access are relatively strong compared with national norms, while cafes, restaurants, and pharmacies are thinner locally. For residents, this translates to everyday convenience without the density of a core urban amenity mix.
For rent dynamics, neighborhood-level rents benchmark above many U.S. areas, yet the rent-to-income ratio sits on the lower side nationally. That combination can sustain pricing power while limiting affordability pressure from a leasing perspective, supporting collections and renewal strategies.
Renter-occupied housing accounts for roughly a third of units at the neighborhood level, indicating a meaningful tenant base without overwhelming concentration. Median home values are elevated in context of local incomes, which in high-cost ownership settings tends to reinforce reliance on multifamily rentals and can aid retention.
Within a 3-mile radius, recent data show modest population softening alongside generally stable household counts, and forward-looking projections point to more households with smaller average size. For investors, that shift typically supports renter pool expansion and occupancy stability over time, though property positioning and finish level will influence capture.
Safety metrics for the neighborhood trend below both metro and national medians. The area ranks 38 out of 54 Panama City neighborhoods for crime, and national percentiles indicate it is less safe than many U.S. neighborhoods. Recent year-over-year estimates show increases in both property and violent offense rates at the neighborhood level.
These figures are neighborhood-wide indicators rather than property-specific conditions. Investors typically underwrite with added attention to lighting, access control, and tenant screening, and may review local incident reports and police data trends to gauge whether recent changes reflect temporary volatility or a longer-term pattern.
This 80-unit property, built in 1974, is materially older than the neighborhood’s average vintage, creating clear value-add and capital planning angles. Neighborhood occupancy sits in the top quartile nationally and above the metro median, supporting a case for stable tenancy while upgrades seek to lift effective rents. A relatively low rent-to-income ratio at the neighborhood level suggests manageable affordability pressure, which can aid renewal rates and reduce turnover risk.
Home values in the area are elevated relative to incomes, reinforcing renter reliance on multifamily housing and supporting pricing power for well-positioned assets. Within a 3-mile radius, projections indicate an increase in household count and smaller household sizes, which generally expands the renter pool and supports occupancy; based on CRE market data from WDSuite, this neighborhood’s fundamentals are consistent with steady, workforce-oriented demand, albeit with attention to amenity positioning and security measures.
- Occupancy strength at the neighborhood level supports leasing stability and renewal potential.
- 1974 vintage provides value-add and systems modernization opportunities to drive NOI.
- Elevated ownership costs in the area reinforce renter demand and pricing power for competitive units.
- 3-mile projections show more households and smaller household sizes, pointing to a broader tenant base over time.
- Risks: neighborhood safety metrics trend below metro and national medians; amenity depth (food/retail) is limited, requiring targeted positioning and on-site improvements.