| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 44th | Fair |
| Demographics | 36th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 222 Morris Ct, Pensacola, FL, 32501, US |
| Region / Metro | Pensacola |
| Year of Construction | 2008 |
| Units | 50 |
| Transaction Date | 2008-01-02 |
| Transaction Price | $250,000 |
| Buyer | MORRIS COURT III LTD |
| Seller | AREA HOUSING COMMISSION |
222 Morris Ct Pensacola 50-Unit Multifamily Opportunity
High renter concentration in the surrounding neighborhood supports a deeper tenant base and steady leasing, according to WDSuite’s CRE market data.
Located in Pensacola’s inner-suburban fabric, the property benefits from a neighborhood with strong everyday conveniences. Grocery and pharmacy access rank first among 134 metro neighborhoods and sit in the mid-to-high 90s nationally, signaling reliable proximity to daily needs. By contrast, parks and café density are limited locally, which may reduce lifestyle-driven foot traffic but keeps the area oriented toward practical amenities over destination retail.
Multifamily fundamentals are supportive. The neighborhood’s occupancy rate is near the metro median (ranked 67 out of 134), and renter-occupied housing accounts for a high share of units, ranking 3 out of 134 in the metro. For investors, this indicates depth in the renter pool and potential for stable tenant demand, with leasing supported by workforce-oriented housing.
Vintage matters here: the asset’s 2008 construction is materially newer than the neighborhood’s older housing stock (average construction year 1971). That positioning can enhance competitiveness versus nearby Class B/C product, while still warranting routine system updates and selective common-area refreshes to sustain leasing momentum and limit future capital spikes.
Within a 3-mile radius, demographics show modest population growth over the past five years with a clearer uptick in households, alongside declining average household size. Together, these dynamics point to a gradually expanding renter base and a tilt toward smaller household compositions—factors that can support occupancy stability and ongoing demand for rental units. Elevated value-to-income levels in the neighborhood (top percentile range nationally) suggest a relatively high-cost ownership market locally, which tends to reinforce reliance on rental housing and can aid lease retention for well-positioned multifamily assets.
Neighborhood safety indicators track around the national middle, with metro positioning that sits in the mid-pack (crime rank 55 out of 134 metro neighborhoods). Property and violent offense rates are below national medians, but recent year-over-year declines—particularly strong in both categories—point to improving conditions relative to prior periods. For investors, this suggests monitoring remains prudent while recognizing a favorable directional trend rather than a static risk profile.
This 50-unit, 2008-vintage asset offers competitive positioning against older neighborhood supply, with practical amenity access (top-ranked grocery and pharmacy availability in the metro) and a renter-heavy housing base that supports leasing durability. Based on commercial real estate analysis from WDSuite, neighborhood occupancy trends sit near the metro median, while the high share of renter-occupied units indicates a deeper tenant pipeline for stabilized operations.
Within a 3-mile radius, recent household growth and smaller average household sizes expand the potential renter pool and can support occupancy stability. Ownership costs appear relatively elevated versus local incomes, which often sustains reliance on rental housing and can help underpin retention for well-maintained properties. Key watch items include safety metrics that sit near the national middle but have improved meaningfully year over year, as well as limited park and café density that may temper certain lifestyle drivers.
- 2008 vintage relative to older local stock supports competitive positioning with moderate modernization needs
- Renter-heavy neighborhood (ranked 3 of 134 in metro) indicates depth of tenant demand
- Daily-needs convenience with top-ranked grocery and pharmacy access enhances leasing appeal
- 3-mile household growth and smaller household sizes support a larger renter base and occupancy stability
- Risks: safety metrics around national mid-range (with improving trend) and limited park/café density to drive lifestyle traffic