| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 52nd | Fair |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1311 Naples Cir, Rockledge, FL, 32955, US |
| Region / Metro | Rockledge |
| Year of Construction | 2011 |
| Units | 34 |
| Transaction Date | 2001-07-26 |
| Transaction Price | $396,500 |
| Buyer | ATLANTIC & PACIFIC SENIOR CARE FACILITY |
| Seller | MERRITT ISLAND PRESBYTERIAN CHURCH INC |
1311 Naples Cir Rockledge Multifamily Investment, 2011 Vintage
Neighborhood indicators point to steady renter demand and competitive amenities, according to WDSuite’s CRE market data, with metrics referring to the surrounding neighborhood rather than the property itself.
Positioned in Rockledge within the Palm Bay–Melbourne–Titusville metro, the neighborhood rates competitively among 139 metro neighborhoods (overall rank 31 of 139, A-), signaling balanced fundamentals for workforce and middle-income renters. Amenity access trends favor the area (amenities rank 15 of 139), with service retail and daily-needs options comparing well against the metro and sitting in the upper half of neighborhoods nationally.
Multifamily demand is supported by a renter-occupied share near one-third of housing units at the neighborhood level (28.3%), which indicates a meaningful tenant base while still leaving room for absorption as new households form. Area rents benchmark above many U.S. neighborhoods (neighborhood rent level in the upper quartile nationally), yet the rent-to-income ratio remains moderate locally, which can aid retention and reduce turnover risk from affordability pressure.
Occupancy at the neighborhood level trends below many U.S. areas (86.9% with a lower national standing), so leasing execution and unit readiness matter for maintaining stability. That said, 3-mile demographics show population growth over the last five years and an expected increase through the next cycle, alongside a forecast rise in household counts and a smaller average household size—factors that typically expand the renter pool for smaller and mid-sized units. These statistics are aggregated within a 3-mile radius.
Vintage positioning is favorable: the property’s 2011 construction is newer than the neighborhood’s average 1987 vintage, suggesting relatively competitive finishes and systems versus older stock. Investors can plan for targeted modernization over time while benefiting from lower near-term capital expenditure risk compared with 1980s-era comparables.
Safety signals are mixed when comparing metro versus national context. Within the Palm Bay–Melbourne–Titusville metro, the neighborhood’s crime rank is 2 out of 139, indicating comparatively higher crime relative to nearby areas. Nationally, however, safety indicators compare favorably, trending in the top quartile of neighborhoods across the country (e.g., property and violent offense measures benchmark well on a national basis). Recent year-over-year estimates indicate declines in both violent and property offenses, which is constructive from a trend perspective. As always, investors should evaluate security, lighting, and tenant screening practices during diligence.
The local employment base blends insurance services, defense/aerospace, logistics, and corporate restaurant operations, supporting commute convenience and diversified renter demand for the neighborhood.
- Space Coast Aflac Region — insurance (1.1 miles)
- Harris — defense & aerospace offices (18.3 miles) — HQ
- Ryder — logistics (41.3 miles)
- Darden Restaurants — corporate restaurant group (41.7 miles) — HQ
- Prudential — financial services (43.5 miles)
1311 Naples Cir offers a newer 2011 multifamily asset in a neighborhood that ranks competitively among 139 metro peers, with amenity access and a sizable renter-occupied base supporting demand. While neighborhood occupancy benchmarks below many U.S. areas, 3-mile demographics point to population growth, a forecast rise in household counts, and smaller average household sizes—dynamics that typically enlarge the renter pool and support occupancy stability over time. According to commercial real estate analysis from WDSuite, local rent levels sit above many U.S. neighborhoods while rent-to-income remains moderate, a combination that can underpin leasing and retention if managed carefully.
Relative to the neighborhood’s older 1980s-vintage housing stock, the property’s 2011 construction enhances competitive positioning and may reduce near-term capex compared with older comps, while still leaving scope for targeted upgrades to drive rent premiums. Investors should underwrite to local leasing conditions and maintain prudent security and asset management practices given mixed metro-versus-national safety signals.
- 2011 vintage outcompetes older neighborhood stock, lowering near-term capital needs
- Competitive neighborhood rank (31 of 139) with strong amenity access supporting renter appeal
- 3-mile population and household growth expand the tenant base and support occupancy stability
- Above-average rent positioning with moderate rent-to-income can aid retention and pricing power
- Risk: neighborhood occupancy is below many U.S. areas; active leasing management is essential