| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 68th | Best |
| Amenities | 37th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6110 Cypress Point Dr, Panama City, FL, 32408, US |
| Region / Metro | Panama City |
| Year of Construction | 2004 |
| Units | 36 |
| Transaction Date | 2012-12-17 |
| Transaction Price | $4,100,000 |
| Buyer | WNY HOLDINGS LLC |
| Seller | THE BANK OF NEW YORK MELLON TRUST COMPAN |
6110 Cypress Point Dr Panama City, FL Multifamily Investment
Positioned in an A- rated suburban neighborhood, the property benefits from solid renter demand supported by higher-than-metro median rents and a growing household base, according to WDSuite’s CRE market data. Investors should weigh leasing strategy against looser neighborhood occupancy while leveraging strong local incomes and ownership costs that tend to sustain multifamily demand.
The immediate neighborhood is competitive among Panama City’s 54 neighborhoods (ranked 9th of 54; A- rating), indicating generally favorable conditions for multifamily. Neighborhood-level rent positioning sits above the metro median (ranked 13th of 54 and top quartile nationally), a signal that local renters accept mid-to-upper market pricing where product quality and location fundamentals justify it. By contrast, neighborhood occupancy trends are below national norms, suggesting investors should underwrite lease-up time and renewal efforts conservatively.
Amenity access is mixed. Dining density is strong (restaurants near the top quartile nationally), and grocery access is above the metro median, but parks, pharmacies, and cafés are sparse within the neighborhood. For residents, this points to convenience for daily needs and nights out, with fewer passive-recreation options close by. These trade-offs are typical of suburban nodes that serve as workforce housing with quick access to retail corridors rather than destination green space.
Demographic statistics aggregated within a 3-mile radius show population growth over the past five years alongside a notable increase in households and smaller average household sizes. This combination typically expands the renter pool and supports occupancy stability by creating more one- and two-person renter households. The 3-mile median household income trends have risen meaningfully, which can support rent levels while still requiring attention to rent-to-income ratios for retention.
Education and housing cost context reinforce multifamily demand. The neighborhood’s share of residents with a bachelor’s degree ranks 1st of 54 in the metro and sits in the upper national percentiles, often correlating with stable earnings and deeper renter profiles. Home values and value-to-income ratios are above the metro median and in higher national percentiles, reflecting a relatively high-cost ownership market for the area. For investors, that dynamic can sustain reliance on rental housing and support pricing power, provided operations adjust for the neighborhood’s softer occupancy baseline.
Safety indicators for the neighborhood lag both metro and national norms. Compared with 54 Panama City neighborhoods, the area ranks in the lower tier for crime, and its national standing is below average (not top quartile nationally). This suggests investors should account for enhanced property management presence, lighting, and access controls to support resident experience.
Recent year-over-year trends indicate increases in both property and violent offense rates at the neighborhood level. While block-by-block conditions vary, underwriting should incorporate prudent security measures and insurance assumptions, and consider how visible improvements and tenant screening can mitigate risk over the hold period.
This 36-unit asset sits in a high-performing neighborhood by metro standards (A- rating; competitive rank), with rent levels above the metro median and strong household and income trends within a 3-mile radius. According to CRE market data from WDSuite, neighborhood occupancy runs looser than national norms, which argues for active leasing and renewal management but also creates room to capture demand with targeted unit and curb appeal upgrades. Elevated ownership costs relative to incomes in the area typically reinforce renter reliance on multifamily, supporting depth of demand.
Operational focus is key: amenity access favors restaurants and grocery over parks and pharmacies, aligning the asset with convenience-driven renters. Growing households and smaller average household sizes nearby point to a larger tenant base over time, supporting occupancy stability if pricing is managed with rent-to-income in mind. Balanced against this are safety metrics that trail metro and national benchmarks, warranting proactive property management and security planning.
- Above-metro rent positioning with a growing 3-mile household base supports revenue potential
- Elevated ownership costs locally reinforce renter demand and lease retention prospects
- Amenity convenience (dining and grocery) aligns with workforce and lifestyle renters
- Risk: Neighborhood occupancy is below national norms—plan for active leasing and renewal management
- Risk: Safety metrics trail metro and national benchmarks—budget for security and insurance