| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 38th | Poor |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3552 D Avinci Way, Melbourne, FL, 32901, US |
| Region / Metro | Melbourne |
| Year of Construction | 2006 |
| Units | 88 |
| Transaction Date | 2015-10-28 |
| Transaction Price | $8,150,000 |
| Buyer | Bayshore Investment Partners LLC |
| Seller | Mussaffi Investment Inc |
3552 D Avinci Way Melbourne Multifamily Investment
Stabilized renter demand and solid neighborhood occupancy underpin income durability, according to WDSuite’s CRE market data. Positioning near major employment nodes supports steady leasing and retention.
This Inner Suburb location in Melbourne offers everyday convenience with above-average access to groceries and dining relative to the metro. Neighborhood café density ranks 12 out of 139 metro neighborhoods (competitive among Palm Bay–Melbourne–Titusville areas), while grocery access also scores well, helping with day-to-day livability for residents.
Neighborhood occupancy is measured at 92.5% and ranks 34 out of 139, placing it in the top quartile among metro neighborhoods and suggesting comparatively steady leasing conditions. Median contract rents trend in the upper half versus national benchmarks, and the neighborhood’s value-to-income ratio ranks 14 out of 139, indicating a high-cost ownership market locally that tends to reinforce reliance on multifamily rentals and support pricing power when managed carefully.
The property’s 2006 vintage is slightly newer than the neighborhood’s average construction year (2001). That positioning can be an advantage versus older stock, though investors should still plan for mid-life building systems and targeted modernization to sustain competitiveness.
Within the neighborhood, 34.1% of housing units are renter-occupied (ranked 22 of 139, top quartile among metro neighborhoods), pointing to a meaningful tenant base that supports demand stability. Demographic statistics aggregated within a 3-mile radius show recent population and household growth with further expansion expected, which can enlarge the renter pool and help sustain occupancy. Average school ratings in the neighborhood are on the low side, which may require tailored leasing strategies for family renters, but proximity to employment and daily amenities helps offset turnover risk.
Safety indicators are mixed. The neighborhood’s overall crime rank is 62 out of 139 metro neighborhoods, which is roughly around the metro middle, while violent offense metrics track near the national middle and property offense measures sit modestly below national averages. Recent year-over-year changes indicate an uptick in reported incidents; investors typically monitor trend direction and incorporate standard security and lighting measures as part of asset management.
Nearby employers anchor a diverse white-collar and logistics workforce, supporting renter demand through commute convenience. Notable employers include Harris, Space Coast Aflac Region, and a CVS Distribution Center.
- Harris — defense & aerospace (2.6 miles) — HQ
- Space Coast Aflac Region — insurance offices (20.5 miles)
- CVS Distribution Center — distribution & logistics (28.9 miles)
This 2006-vintage asset benefits from a renter base supported by strong neighborhood occupancy and proximity to established employers, with ownership costs in the area comparatively elevated versus incomes—factors that generally sustain reliance on rental housing. Based on commercial real estate analysis informed by WDSuite, neighborhood occupancy ranks in the top quartile among metro peers and local café and grocery access is competitive, reinforcing livability and lease retention.
Demographic trends aggregated within a 3-mile radius indicate recent population and household growth with further expansion expected, which can widen the tenant base over time. The vintage provides a relative edge versus older stock, though prudent capital planning for mid-life systems and targeted updates will help maintain competitive positioning. School quality scores are lower, and safety trends should be watched, but the employment base and day-to-day amenities support ongoing demand for well-managed units.
- Top-quartile neighborhood occupancy versus metro peers supports income stability
- Elevated ownership costs locally reinforce renter reliance and pricing power
- 2006 vintage offers a competitive edge; plan for mid-life system renewals
- Expanding population and households within 3 miles enlarge the renter pool
- Risks: lower school ratings and mixed safety trends warrant active management