| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 71st | Best |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 922 Courtington Ln, Fort Myers, FL, 33919, US |
| Region / Metro | Fort Myers |
| Year of Construction | 1973 |
| Units | 20 |
| Transaction Date | 2013-04-30 |
| Transaction Price | $775,000 |
| Buyer | BLUE HERON COVE LLC |
| Seller | 922 COURTINGTON LANE LLC |
922 Courtington Ln Fort Myers Multifamily Investment
Neighborhood data point to a stable renter base supported by elevated ownership costs and improving occupancy trends in the area, according to WDSuite’s CRE market data. For investors, the location offers durable demand drivers with room for targeted value-add execution.
Located in an inner-suburb pocket of Fort Myers (Lee County), the property is positioned near everyday services rather than destination entertainment. Neighborhood amenities skew toward essentials, with grocery access competitive among Cape Coral–Fort Myers neighborhoods (ranked 44 of 211) and strong national showings for restaurants and pharmacies (both in the 80th+ percentiles). Park and café density is limited within the immediate neighborhood, which places a premium on on-site features and quick arterial access for lifestyle needs.
Multifamily demand is supported by a renter-occupied share of housing that is competitive within the metro (ranked 44 of 211; above national median by percentile). Neighborhood occupancy has improved over the past five years, contributing to steadier revenue visibility even if absolute occupancy sits closer to the national middle of the pack. Median contract rents in the neighborhood trend above the national median by percentile while rent-to-income remains manageable, suggesting pricing power is more likely to hinge on asset quality than pure affordability constraints.
Within a 3-mile radius, the population is growing modestly today with projections calling for a larger increase in the next five years, and households are expected to rise faster than population as average household size trends smaller. For multifamily investors, this translates to a larger tenant base and demand for efficient units, which can support occupancy stability and steady lease-up for well-maintained assets.
For context on vintage, neighborhood housing stock skews newer than this 1973 asset (area average 1986). That age gap underscores the case for targeted renovations and capital planning to remain competitive versus nearby product, especially as new and recently updated stock captures demand in the submarket.
Home values in the surrounding neighborhood sit well above national norms by percentile, creating a high-cost ownership market that tends to sustain rental demand and support retention, particularly for households prioritizing flexibility. These dynamics, combined with improving neighborhood occupancy and solid amenity access for daily needs, underpin the location’s investment appeal.
Neighborhood safety indicators sit around the national middle, with violent incidents near the national median by percentile and property crime reading comparatively better (upper-third nationally). Year-over-year trends show an improvement in violent offenses alongside a modest uptick in property offenses. For investors, this pattern suggests conditions that are broadly consistent with many inner-suburban areas, where lighting, access control, and routine maintenance can support resident satisfaction and retention.
The local employment base includes regional corporate operations that support renter demand through steady white-collar and service roles. Nearby, a major corporate headquarters anchors commuting options within a reasonable drive.
- Hertz Global Holdings — corporate headquarters (11.6 miles) — HQ
This 1973, 20-unit asset offers a straightforward value-add story in a neighborhood where grocery, restaurant, and pharmacy access outperform much of the metro, while parks and café density are limited. Elevated home values in the area reinforce reliance on rental housing, and neighborhood occupancy has improved over five years, supporting revenue consistency. Based on CRE market data from WDSuite, rents and incomes benchmark above national medians by percentile, indicating that well-executed renovations can compete effectively on quality rather than pure price.
Relative to the neighborhood’s newer housing stock, targeted upgrades and systems modernization can sharpen positioning and support rent growth, especially as the 3-mile radius shows projections for household growth and smaller household sizes—conditions that expand the renter pool and help sustain occupancy. Risks include below-average park and café density and the need for ongoing security-minded property operations as crime metrics hover around national medians.
- 1973 vintage presents value-add and CapEx planning opportunities to compete with newer neighborhood stock.
- Improving neighborhood occupancy and elevated local home values support durable rental demand and retention.
- Household growth and smaller average household size within 3 miles expand the renter pool and support lease-up stability.
- Amenity mix favors daily needs (grocery/pharmacy/restaurant strength) though park and café access is limited, making on-site features more impactful.
- Risk: Safety metrics sit near national medians and property crime has ticked up year over year, warranting routine security and maintenance focus.