| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 40th | Poor |
| Demographics | 52nd | Fair |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2044 Sunset Dr, Bradenton, FL, 34207, US |
| Region / Metro | Bradenton |
| Year of Construction | 1972 |
| Units | 21 |
| Transaction Date | 2011-08-05 |
| Transaction Price | $1,471,000 |
| Buyer | MORTON BAYSHORE I LLC |
| Seller | GOLDMAN NEWCO IB LLC |
2044 Sunset Dr Bradenton 21-Unit Multifamily Opportunity
According to WDSuite’s CRE market data, neighborhood renter-occupied housing is modest while household growth is projected to expand, suggesting steady tenant formation even as overall occupancy varies by subarea. Amenity access and ownership costs relative to local incomes point to durable rental demand in this inner-suburban location based on commercial real estate analysis.
Amenity depth is a relative strength. The neighborhood ranks 8 out of 218 metro neighborhoods for cafes per square mile and 7 out of 218 for grocery stores, placing it competitive among North Port-Sarasota-Bradenton neighborhoods and around the 95th percentile nationally for both categories. Park and pharmacy access are limited locally, which may influence tenant preferences toward properties that offer on-site conveniences.
Renter concentration is measured at 29.8% of housing units for the neighborhood, above the metro median (rank 44 of 218), indicating a defined but not dominant renter base that can support leasing velocity for smaller multifamily assets. Median neighborhood contract rents sit in the mid-range of national markets, while a rent-to-income ratio near 0.28 suggests some affordability pressure to monitor when planning renewals and rent steps.
Within a 3-mile radius, household counts increased in recent years even as population edged lower, pointing to smaller household sizes and a broader base of households participating in the rental market. Forward-looking data from WDSuite indicates further household expansion through the forecast period, which supports occupancy stability for well-managed assets.
Home values in the neighborhood are lower in absolute terms than many national markets, but the value-to-income relationship trends above the national median, implying a high-cost ownership market relative to local earnings. For investors, this dynamic can sustain renter reliance on multifamily housing and aid retention, particularly for well-located, professionally managed properties.
Safety indicators trend weaker than many parts of the metro. The neighborhood ranks 217 out of 218 metro neighborhoods on crime, and its national positioning is in the lower percentiles, indicating more reported incidents than typical areas nationally. Property and violent offense estimates also sit below national percentiles for safety, so investors often plan for appropriate security features, lighting, and on-site management to support tenant experience.
As with any asset, evaluate recent trendlines and property-level history alongside neighborhood context; block-to-block conditions can vary, and professional operations can mitigate some risks. Framing safety comparatively helps underwrite realistic expenses and leasing assumptions.
Nearby employment spans industrial distribution, electronics manufacturing, financial services, and IT distribution, supporting a diverse renter base and commute convenience for workforce tenants. The list below reflects proximate employers likely to contribute to day-to-day leasing fundamentals in this part of the metro.
- Airgas Store — industrial gases distribution (3.9 miles)
- Jabil Circuit — electronics manufacturing (29.6 miles)
- Raymond James Financial — financial services (31.5 miles) — HQ
- Cardinal Health — healthcare distribution (33.8 miles)
- Tech Data — IT distribution (34.1 miles) — HQ
Built in 1972, this 21‑unit property offers classic value-add potential: interior upgrades and system modernization can enhance competitiveness versus older local stock while targeting durable renter demand. Based on CRE market data from WDSuite, the surrounding neighborhood shows strong day-to-day amenities (notably cafes and grocery access), a defined renter base, and household growth projections that point to a larger tenant pool over the next few years.
Neighborhood ownership costs trend high relative to incomes, which can reinforce multifamily retention even as absolute home values are below many national markets. Key underwriting considerations include a below-average neighborhood occupancy level and comparatively weaker safety metrics; disciplined operations, security investments, and focused leasing should be reflected in business plans and expense assumptions.
- 1972 vintage supports value-add through interior updates and building systems planning.
- Amenity-rich corridor (strong cafe and grocery density) supports leasing and retention.
- Household growth within 3 miles indicates a larger tenant base and potential occupancy stability.
- Ownership costs relative to income bolster renter reliance on multifamily housing.
- Risks: weaker neighborhood safety readings and below-metro occupancy warrant prudent security and expense underwriting.