| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Good |
| Demographics | 52nd | Good |
| Amenities | 31st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1450 Coremo Dr, Crestview, FL, 32539, US |
| Region / Metro | Crestview |
| Year of Construction | 1980 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1450 Coremo Dr Crestview FL Multifamily Investment
Neighborhood occupancy trends and a moderate renter-occupied share point to a stable tenant base, according to WDSuite’s CRE market data, with room to enhance income through targeted upgrades.
Located in Crestview’s inner-suburban fabric of the Crestview–Fort Walton Beach–Destin metro, the property benefits from neighborhood fundamentals that support multifamily performance. Neighborhood occupancy is competitive among metro peers (ranked within the top quartile among 86 metro neighborhoods), suggesting steadier leasing and fewer prolonged vacancies versus weaker submarkets. Median asking rents in the immediate area track near regional norms, while a rent-to-income profile near 0.21 indicates manageable affordability pressure that can aid renewal retention.
Livability drivers are mixed but serviceable for workforce renters. Local schools average about the mid-3s out of five and are competitive among metro neighborhoods (top quartile out of 86), which can help family renter demand. Daily conveniences are present but not dense: cafes and childcare show stronger availability than many areas in the region (nationally above the 60th percentile), while grocery, park, and pharmacy access are limited within the neighborhood boundaries, implying residents likely rely on nearby commercial corridors for essentials.
Ownership dynamics and housing costs suggest sustained reliance on rentals. Neighborhood home values sit near the national midpoint, but relative to incomes they score above the 70th percentile nationally, signaling a higher-cost ownership market in context; for investors, this tends to sustain renter reliance on multifamily housing and supports pricing power when units are well-maintained. The renter-occupied share in the neighborhood is roughly one-third of housing units, providing a meaningful but not saturated tenant base and generally supporting demand stability for mid-size assets.
Demographic statistics aggregated within a 3-mile radius show broad demand tailwinds: population is up by double digits over the last five years, households have expanded materially, and forecasts indicate continued population growth and a sizable increase in households over the next five years. This points to a larger tenant base and supports occupancy stability, even as the area trends toward a higher owner share. For investors, the combination of household growth and moderate renter concentration typically favors consistent leasing and measured rent growth over the hold period.
Safety indicators are mixed in ways investors should monitor. Neighborhood-level measures compare favorably with many areas nationwide (national safety percentiles are above average), which can support leasing and renewal performance. However, recent year-over-year data show an uptick in violent offenses, indicating trend risk that merits attention to on-site security practices and coordination with local stakeholders. Interpretations are at the neighborhood level, not block-specific, and rankings are relative to the 86 neighborhoods in the Crestview–Fort Walton Beach–Destin metro.
Built in 1980, this 40-unit asset presents a straightforward value-add and capital planning opportunity: slightly older than the neighborhood’s average vintage, with scope to modernize interiors, address systems, and elevate curb appeal to compete with newer stock. Neighborhood occupancy is strong relative to metro peers, and median rents align with local earning power, supporting steady absorption and renewal potential. Demographic trends within a 3-mile radius point to ongoing population growth and a larger household base, which reinforces depth of the renter pool and supports occupancy stability.
Homeownership remains comparatively costly in context, which tends to sustain renter reliance on multifamily housing when properties are well-operated. According to CRE market data from WDSuite, the neighborhood’s school and amenity profile is serviceable for workforce renters, and forward-looking household growth should support demand, even as the area trends toward a higher owner share. Key risks include limited grocery/pharmacy access within the neighborhood footprint and recent volatility in safety trends; both are manageable with asset-level improvements and prudent operations.
- Strong neighborhood occupancy supports stable leasing versus weaker metro submarkets.
- 1980 vintage offers value-add upside via interior and systems modernization.
- 3-mile demographics show population and household growth, expanding the tenant base.
- Ownership costs relatively high versus incomes, reinforcing sustained rental demand.
- Risks: limited neighborhood groceries/pharmacies and recent safety trend volatility.