| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Good |
| Demographics | 45th | Fair |
| Amenities | 43rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 40 Lakeview St, Lake Placid, FL, 33852, US |
| Region / Metro | Lake Placid |
| Year of Construction | 1989 |
| Units | 20 |
| Transaction Date | 2005-04-27 |
| Transaction Price | $1,380,000 |
| Buyer | 9057LYONS LLC |
| Seller | M O D LLC |
40 Lakeview St, Lake Placid FL Multifamily Opportunity
Stabilized renter demand is supported by a higher neighborhood renter-occupied share and a value-oriented rent profile, according to WDSuite’s commercial real estate analysis. Location fundamentals in rural Highlands County point to steady workforce housing appeal with manageable competition from for-sale housing.
The property sits in an A-rated neighborhood within the Sebring–Avon Park metro, ranking 6 out of 39 metro neighborhoods—placing it in the top quartile locally for overall livability. Amenity access is moderate by national standards, with groceries and pharmacies relatively convenient for a rural area, while parks and cafés are limited. Schools trend around the national middle, which supports broad family appeal without being a primary demand driver.
With the neighborhood’s renter-occupied share above many U.S. areas, the tenant base is reasonably deep for a small Florida market. At the same time, neighborhood occupancy trends are around the metro median among 39 neighborhoods and below national norms, so prudent leasing management remains important for maintaining stability.
Construction patterns skew older across the neighborhood (average 1980). A 1989 vintage positions this asset somewhat newer than nearby stock, offering relative competitiveness versus older properties while still warranting capital planning for aging systems or modernization to boost rentability.
Within a 3-mile radius, recent years show a smaller average household size and a slight increase in households despite population contraction—pointing to a stable or expanding renter pool for appropriately sized units. Projections through 2028 indicate population growth and more households, supporting occupancy stability and incremental pricing power. Elevated value-to-income levels for ownership in the area reinforce ongoing reliance on multifamily rentals, while rent-to-income levels suggest manageable affordability pressure for tenants—factors that can aid retention and reduce turnover risk.
Safety indicators are mixed in context. The neighborhood’s metro crime rank sits at 25 out of 39, which signals comparatively higher crime versus many local peers. However, national comparisons place the area above average for overall safety, and recent data shows notable improvement in property-related incidents year over year. Investors should view security and lighting as routine operational priorities rather than structural impediments.
This 20-unit, 1989-vintage asset offers a durable workforce housing position in a rural Florida submarket with moderate amenities and an above-average renter concentration. According to CRE market data from WDSuite, neighborhood occupancy trends sit around the metro median, with national context and ownership costs supporting sustained renter reliance. The property’s slightly newer vintage versus the local average enhances competitive standing, while targeted updates can further strengthen leasing and retention.
Forward-looking 3-mile demographics point to population growth and a larger household base by 2028, which supports demand for smaller, efficiently sized units. Balanced homeownership costs relative to incomes suggest continued depth in the rental pool, though operators should plan for ongoing asset maintenance and thoughtful lease management given the area’s rural dynamics and mixed safety signals.
- Competitive positioning: 1989 vintage is somewhat newer than neighborhood stock, with value-add potential via modernization.
- Demand drivers: Above-average renter-occupied share and moderate amenities support a steady tenant base.
- Growth outlook: 3-mile projections show population and household expansion by 2028, reinforcing occupancy stability.
- Pricing power: Ownership costs and manageable rent-to-income dynamics support retention for appropriately sized units.
- Risks: Rural location, mixed safety relative to local peers, and below-national occupancy require diligent operations.