| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 13th | Poor |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2303 16th Street Ct E, Bradenton, FL, 34208, US |
| Region / Metro | Bradenton |
| Year of Construction | 1982 |
| Units | 22 |
| Transaction Date | 2020-06-30 |
| Transaction Price | $1,676,900 |
| Buyer | FAITH PRESBYTERIAN VILLAGE INC |
| Seller | LAKE EAST II ASSOCIATES LTD |
2303 16th Street Ct E Bradenton Multifamily Investment
Neighborhood renter demand looks durable, supported by a high renter-occupied share and ownership costs that keep many households in the rental market, according to WDSuite’s CRE market data.
Located in Bradenton’s inner-suburb fabric, the neighborhood shows leasing fundamentals that are above the metro median for occupancy at the neighborhood level, with improvement over the past five years. Note that these occupancy metrics are measured for the neighborhood, not the property, and point to stable tenancy potential for workforce-oriented product.
Renter concentration sits in the top quartile among 218 metro neighborhoods, indicating depth in the tenant base for smaller multifamily assets. Median contract rents in the neighborhood track modest by metro standards but sit slightly above national norms, which can support retention while limiting downside if growth moderates.
Within a 3-mile radius, population has expanded recently with an additional increase in households, and forecasts call for further population growth alongside a notable rise in household counts. Smaller average household size is expected over time, which typically supports a larger renter pool and demand for apartment units. This local growth backdrop provides a steady funnel of prospects, a useful signal for multifamily property research.
Amenity access is mixed: overall amenity ranking is below the metro median (rank 174 out of 218), with limited cafés, groceries, parks, and restaurants nearby. Pharmacy access is a relative bright spot at a higher national percentile, helping cover daily needs. School quality measures trend lower versus the metro, which may tilt demand toward value-oriented units and weigh on family-driven leasing. Home values are elevated versus local incomes (high national percentile for value-to-income ratio), a high-cost ownership environment that tends to reinforce renter reliance on multifamily housing and can support pricing power when managed carefully.
Vintage context matters: the neighborhood’s average construction year trends newer, while the subject property was built in 1982. That older vintage can position the asset for targeted renovations and common-area upgrades to compete against newer stock, with capex planning focused on building systems and finishes most visible to renters.
Safety indicators are mixed and should be evaluated with care. The neighborhood ranks 201 out of 218 metro neighborhoods for overall crime, signaling safety levels below much of the metro. Nationally, violent offense measures sit below midrange percentiles, while property offense measures compare closer to national mid-to-better ranges. Recent year-over-year changes indicate some volatility. For investors, this argues for pragmatic security measures, lighting, and resident screening to support retention and leasing stability.
Proximity to regional employers supports workforce demand and commute convenience, notably Airgas, Jabil Circuit, Raymond James Financial, and Cardinal Health within roughly 30 miles. This employment base can help sustain leasing velocity for value-oriented units.
- Airgas Store — industrial gases distribution (4.2 miles)
- Jabil Circuit — electronics manufacturing services (27.2 miles)
- Jabil Circuit — electronics manufacturing services (27.5 miles) — HQ
- Raymond James Financial — financial services (29.1 miles) — HQ
- Cardinal Health — healthcare distribution (30.1 miles)
This 22-unit, 1982-vintage asset offers a value-add angle in a renter-heavy submarket where neighborhood occupancy has trended above the metro median. According to CRE market data from WDSuite, the neighborhood’s renter-occupied share ranks among the metro’s highest, and ownership costs relative to incomes skew elevated, both of which typically support a deeper tenant base and steadier renewal potential when operations are well-managed.
Within a 3-mile radius, recent population growth and a meaningful increase in household counts point to ongoing renter pool expansion, with forecasts indicating further gains and smaller average household sizes. The older vintage versus the neighborhood’s newer average stock suggests room to enhance unit finishes and building systems to improve competitive positioning and drive effective rent, while remaining mindful of affordability pressures (rent-to-income levels) and selective amenity limitations in the immediate area.
- Renter-heavy area supports depth of demand and renewal stability
- Value-add potential from 1982 vintage versus newer neighborhood stock
- 3-mile household growth and smaller sizes expand the renter pool
- Proximity to regional employment nodes underpins leasing
- Risks: below-metro safety rankings, limited nearby amenities, and affordability pressure require active management