| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 37th | Poor |
| Demographics | 21st | Poor |
| Amenities | 36th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 901 S Water St, Starke, FL, 32091, US |
| Region / Metro | Starke |
| Year of Construction | 2005 |
| Units | 24 |
| Transaction Date | 2021-09-15 |
| Transaction Price | $6,800,000 |
| Buyer | 900 SOUTH WATER STREET LLC |
| Seller | WHISPERING OAKS HOUSING PARTNERS II LTD |
901 S Water St Starke FL 24-Unit Multifamily
Built in 2005, the asset competes well against older neighborhood stock, while a comparatively high share of renter-occupied housing in the area supports tenant depth, according to WDSuite’s CRE market data.
Neighborhood fundamentals are mixed but investable. Local amenity access is competitive among Bradford County neighborhoods (ranked 2nd of 15), with restaurants, cafes, and pharmacies measuring near the top locally, though amenities track closer to the middle of the pack nationally. Grocery, park, and childcare options are thinner in the immediate area, which can influence convenience expectations and leasing strategy.
The neighborhood occupancy rate is below the metro median (12th of 15) and trends below the national middle as well, signaling the need for active leasing and retention management. By contrast, the share of housing units that are renter-occupied is elevated (4th of 15; top-quintile nationally), indicating a deeper renter pool that can support multifamily demand and reduce exposure to ownership alternatives.
Vintage positioning is favorable: with the average neighborhood construction year around the mid-1960s, a 2005 asset offers more contemporary layouts and building systems than much of the local stock. That advantage can support occupancy and rent attainment, while investors should still plan for mid-life system updates typical for properties of this age.
Demographic statistics in WDSuite are aggregated within a 3-mile radius. Recent local trends point to population growth and slightly larger household sizes, which generally expand the renter base and can support occupancy stability over time if supply additions remain modest.
Safety indicators are mixed when viewed through local versus national lenses. The neighborhood ranks in the lower tier within the metro (12th of 15), suggesting crime levels above the metro average. Nationally, overall crime metrics sit modestly above the median, indicating a comparative position that is neither a standout risk nor a differentiator.
Property-related offenses have shown a notable year-over-year improvement locally, while violent offense measures are closer to the national middle. Investors should underwrite to current trends and monitor trajectory rather than relying on block-level assumptions.
Regional employment is anchored by financial services, rail transportation, and distribution hubs within commuting range, supporting workforce housing demand and lease retention for residents commuting to these employers.
- Fidelity National Financial — title insurance (37.0 miles) — HQ
- Fidelity National Information Services — payments/fintech (37.0 miles) — HQ
- Anixter — electrical distribution (37.6 miles)
- CSX — rail transportation (37.7 miles) — HQ
This 24-unit property’s 2005 construction positions it ahead of much of the neighborhood’s older stock, providing a relative edge in functionality and curb appeal. Neighborhood occupancy sits below the metro median, but a high concentration of renter-occupied units suggests demand depth that can support leasing velocity with the right management and pricing. According to commercial real estate analysis from WDSuite, amenity access ranks competitively within the county even if it is more middle-of-the-road nationally, indicating local convenience with selective gaps to plan around.
Forward-looking considerations center on steady renter demand, mid-life capital planning, and careful lease management. Recent improvements in property-related safety metrics and measured population growth point to stabilizing factors, while thinner grocery and park access and below-metro occupancy underscore the need for hands-on operations.
- 2005 vintage provides competitive positioning versus older neighborhood stock with manageable mid-life capex planning.
- Elevated renter-occupied share indicates a deeper tenant base supporting demand and retention.
- Locally strong restaurant, cafe, and pharmacy access, with targeted strategies to offset thinner grocery and park options.
- Below-metro occupancy necessitates active leasing and revenue management — key operational focus for underwriting.
- Improving property offense trends support stability, but safety remains a monitoring item relative to metro peers.