| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Fair |
| Demographics | 56th | Fair |
| Amenities | 22nd | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Hammocks Trl, Key Largo, FL, 33037, US |
| Region / Metro | Key Largo |
| Year of Construction | 2003 |
| Units | 66 |
| Transaction Date | 2019-05-30 |
| Transaction Price | $7,100,000 |
| Buyer | TRADEWINDS KEY LARGO LLC |
| Seller | TRADEWINDS HAMMOCKS LTD |
100 Hammocks Trl Key Largo Multifamily Investment Opportunity
Early-2000s vintage and a tight ownership market suggest durable renter demand in Key Largo, according to WDSuite’s CRE market data. The neighborhood shows stable household fundamentals, supporting leasing resilience for a professionally managed asset.
Located in suburban Key Largo within the Key West, FL metro, the property benefits from lifestyle-driven demand and coastal proximity that supports multifamily leasing. The building’s 2003 construction is newer than the neighborhood s typical 1981 stock, indicating relative competitiveness versus older inventory; investors should still plan for mid-life system upgrades common to assets of this vintage.
Neighborhood livability is mixed: restaurants per square mile track above national norms, and grocery access trends modestly positive, while cafes, parks, and pharmacies are comparatively limited. Overall amenity strength ranks near the bottom of the metro (ranked 23 among 27 neighborhoods), pointing to a car-oriented setting where on-site features and property operations play a larger role in retention.
For-rent dynamics are nuanced. The share of renter-occupied housing is above the metro median (ranked 12 of 27), signaling a meaningful tenant base, yet overall neighborhood occupancy trends below metro norms and low nationally, which places a premium on differentiated product and targeted leasing. Elevated home values relative to national benchmarks indicate a high-cost ownership market that can sustain reliance on rentals and support pricing power when units are well-positioned.
Demographic indicators aggregated within a 3-mile radius show population and households have grown over the past five years, with forecasts calling for continued expansion into 2028. Median household incomes have risen alongside rent levels, which helps offset affordability pressure from an estimated rent-to-income near 30% and supports occupancy stability when underwriting renewals and concessions.
Comparable safety benchmarking is not available for this neighborhood in the current WDSuite dataset. Investors typically supplement underwriting with local law enforcement reports and municipal dashboards to understand trend direction and how the area compares with other Key West metro neighborhoods.
The investment case centers on competitive vintage, demand depth, and ownership-cost tailwinds. Built in 2003, the asset stands newer than much of the surrounding housing stock, positioning it favorably against older properties while still warranting capital planning for systems typical at this age. A high-cost ownership environment in Key Largo supports renter reliance on multifamily housing, and 3-mile demographic trends point to a growing tenant base and rising incomes that underpin leasing. Based on commercial real estate analysis from WDSuite, neighborhood occupancy runs below metro norms, so execution will hinge on product differentiation, renewal management, and service quality.
Overall, this property aligns with investors seeking durable renter demand in a supply-constrained coastal corridor, with value created through operational focus and targeted upgrades rather than speculation on outsized market growth.
- 2003 construction offers relative competitiveness versus older local stock, with planned mid-life system updates
- High-cost ownership market reinforces renter demand and supports pricing power for well-positioned units
- 3-mile population and household growth expands the tenant base and supports occupancy stability
- Operational upside through renewal management and amenity/programming focus in a car-oriented submarket
- Risk: neighborhood occupancy trends below metro norms; performance depends on leasing execution and retention