| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 45th | Fair |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 306 E Phoenix St, Lake Placid, FL, 33852, US |
| Region / Metro | Lake Placid |
| Year of Construction | 1983 |
| Units | 24 |
| Transaction Date | 2019-11-15 |
| Transaction Price | $2,300,000 |
| Buyer | MORE REALTY LLC |
| Seller | RICHARDS DOUGLAS L |
306 E Phoenix St Lake Placid Multifamily Investment
Neighborhood metrics point to steady renter demand supported by accessible rents and a moderate renter base, according to WDSuite’s CRE market data.
Lake Placid sits in a rural pocket of the Sebring–Avon Park metro with an A neighborhood rating and a rank of 6 out of 39 metro neighborhoods, placing it in the top quartile locally. For multifamily investors, this translates into solid community fundamentals without big-city volatility.
Renter-occupied housing makes up roughly a third of neighborhood units, indicating a meaningful but not dominant renter concentration that can support leasing depth for a 24‑unit property. Neighborhood rent levels track on the accessible side relative to incomes, which can aid retention and reduce turnover risk versus pricier Florida markets.
Within a 3‑mile radius, households have edged higher even as population decreased modestly, reflecting smaller average household sizes. Forward-looking projections indicate growth in households and incomes through 2028, which would enlarge the tenant base for smaller apartments and support occupancy stability if realized.
Local conveniences are present but measured for a rural setting: grocery and pharmacy access score above many peers in the metro (national percentiles in the low-to-mid 60s), while cafes and parks are limited. Average school ratings land around the national middle, which aligns with workforce housing appeal rather than being a primary demand driver. Overall, neighborhood metrics are competitive among Sebring–Avon Park areas without relying on urban amenity density.
Safety indicators are mixed but generally compare favorably to national benchmarks. The neighborhood’s crime profile sits around the 59th percentile nationally (safer than many U.S. neighborhoods), and property offense risk is comparatively low, landing in a stronger 72nd percentile nationally.
At the metro level, the area ranks 25 out of 39 Sebring–Avon Park neighborhoods, indicating mid-pack conditions versus local peers rather than an outlier. Recent trends show a notable decline in estimated property offenses year over year, while estimated violent offense rates increased over the same period. Investors should underwrite with standard loss-prevention and lighting/security improvements in mind, recognizing the favorable long-run property crime trend alongside the recent volatility in violent incidents.
This 24‑unit asset in Lake Placid benefits from a stable, rural workforce location with a meaningful renter base and rent levels that remain accessible relative to area incomes. According to commercial real estate analysis from WDSuite, neighborhood fundamentals rank in the top quartile within the Sebring–Avon Park metro, suggesting steady demand drivers without reliance on urban amenity density.
Household counts within 3 miles have held up despite a smaller population, pointing to smaller households and an expanding pool of renters for modestly sized units. Looking ahead, projections indicate increases in households and incomes through 2028, which can support occupancy stability and measured rent growth, while homeownership costs in the area continue to reinforce reliance on rental options.
- Top-quartile neighborhood rank in the Sebring–Avon Park metro supports steady demand
- Moderate renter concentration provides a dependable leasing base for a 24‑unit property
- 3‑mile household growth outlook and rising incomes bolster occupancy and pricing power
- Accessible rent-to-income dynamics favor tenant retention and reduce turnover risk
- Risks: limited urban amenities and mixed safety trends warrant prudent capital planning and operations