| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Best |
| Demographics | 38th | Poor |
| Amenities | 80th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5455 MacDonald Ave, Key West, FL, 33040, US |
| Region / Metro | Key West |
| Year of Construction | 2013 |
| Units | 48 |
| Transaction Date | 2012-12-18 |
| Transaction Price | $1,000,000 |
| Buyer | BANYAN GROVE RESIDENCES LTD |
| Seller | BANYAN GROVE DEVELOPMENT CORPORATION |
5455 MacDonald Ave, Key West FL Multifamily Investment
According to WDSuite’s CRE market data, the surrounding neighborhood’s occupancy ranks in the top quartile among 27 Key West neighborhoods, indicating durable renter demand in a high-cost ownership market.
The property’s 2013 vintage positions it competitively against a neighborhood housing stock that is older on average (1976), offering newer systems and finishes that can support leasing velocity and reduce near-term capital exposure while allowing for selective modernization as needed.
Location fundamentals skew favorable for renters: grocery access and parks both rank 2nd–3rd out of 27 Key West neighborhoods, placing amenities in the top quartile locally and near the 97th–99th percentile nationally. Restaurant density is likewise strong (ranked 3 of 27; 99th percentile nationally), which supports livability and lease retention for workforce and service-oriented households.
Neighborhood-level multifamily indicators are constructive for stability. Occupancy is ranked 3rd among 27 neighborhoods (above the metro median), and the renter-occupied share is ranked 1st locally and in the 99th percentile nationally—signaling a deep tenant base and consistent demand for professionally managed apartments.
Demographics aggregated within a 3-mile radius show relatively steady population levels over the past five years, alongside growth in households and a trend toward smaller household sizes. WDSuite’s data indicates additional household growth is projected over the next five years, which typically expands the renter pool and supports occupancy and pricing resilience.
Ownership remains a high-cost option in this neighborhood (national 80th percentile for home values and a value-to-income ratio ranked 7th of 27, 98th percentile nationally). For investors, a high-cost ownership market tends to reinforce reliance on rental housing, deepening demand while requiring attentive lease management where rent-to-income ratios are elevated.
Comparable neighborhood-level crime metrics are not available in this dataset from WDSuite for this specific area. Investors typically benchmark property operations against city and county trend reports and assess on-site measures (lighting, access control, and management practices) to gauge resident experience and retention. Where data becomes available, compare the neighborhood rank against the 27 Key West neighborhoods and national percentiles to contextualize relative safety.
Nearby employment centers support renter demand and commute convenience for a workforce drawn to hospitality, services, and public-sector roles; specific employer names and distances are not available in this dataset.
Built in 2013, this 48-unit asset offers a newer construction profile than the neighborhood average, enhancing competitive positioning versus older stock while preserving value-add options through targeted upgrades. Neighborhood occupancy ranks in the top quartile locally, and the renter-occupied share is among the highest in the metro—favorable signals for demand depth and lease stability. According to CRE market data from WDSuite, the surrounding ownership market is high-cost relative to incomes, which generally sustains renter reliance on multifamily housing.
Within a 3-mile radius, households have been increasing and are projected to continue rising as average household size trends lower. This pattern typically broadens the renter pool and supports consistent absorption, while the amenity base—strong for groceries, parks, and dining—reinforces livability and retention. Key watch items include managing affordability pressure where rent-to-income is high and monitoring exposure to sectors sensitive to economic slowdowns.
- 2013 construction offers competitive positioning versus older neighborhood stock with selective value-add potential
- Top-quartile neighborhood occupancy and a high renter-occupied share support demand stability
- High-cost ownership context supports sustained renter reliance and pricing power with disciplined lease management
- 3-mile trends indicate increasing households and smaller household sizes, expanding the renter pool
- Risks: elevated rent-to-income ratios and sensitivity to cyclical employment may require careful renewal and concession strategy