| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 78th | Best |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 100 Calhoun Ave, Destin, FL, 32541, US |
| Region / Metro | Destin |
| Year of Construction | 2001 |
| Units | 22 |
| Transaction Date | 2004-06-04 |
| Transaction Price | $1,400,000 |
| Buyer | DESTIN APARTMENTS LLC |
| Seller | BC LAND CORPORATION |
100 Calhoun Ave, Destin FL Multifamily Investment
2001-vintage, 22-unit asset in a suburban Destin pocket with steady renter demand supported by a high-cost ownership market, according to WDSuite s CRE market data. The core investor takeaway is durable leasing potential driven by household growth in the 3-mile area and competitive positioning versus older nearby stock.
Destin s suburban setting offers daily convenience with strong restaurant density and plentiful parks nearby. Neighborhood park access ranks near the top among 86 metro neighborhoods and tests in the top quartile nationally, while restaurants are competitive within the metro. In contrast, grocery, pharmacy, and cafe options are limited within neighborhood boundaries, so residents commonly rely on nearby nodes for errands. These dynamics skew the area toward lifestyle- and recreation-driven living with regional retail access.
The building s 2001 construction is newer than the neighborhood s average vintage (1991), which generally supports leasing competitiveness against older stock; investors should still plan for normal mid-life systems and interiors updates when underwriting value-add scope and capital timelines.
Within a 3-mile radius, population grew over the last five years and households increased at a faster pace, indicating smaller household sizes and a broader tenant base for multifamily. Looking ahead, WDSuite s CRE market data shows households are projected to continue rising locally even as population trends level, which typically supports occupancy stability and lease retention.
Tenure patterns within 3 miles show roughly one-third of housing units are renter-occupied, signaling a meaningful, but not dominant, renter concentration. For investors, this points to a diversified pool of potential tenants without significant exposure to any single segment, aiding demand resilience through cycles.
Ownership costs in the neighborhood are elevated relative to income levels (above-median value-to-income metrics and a high national percentile for home values). For multifamily operators, a high-cost ownership landscape tends to sustain reliance on rentals and can support pricing power, while the neighborhood s rent-to-income position suggests moderate affordability pressure that can aid renewal capture and reduce turnover risk.
At the neighborhood level, occupancy performance trends below the metro median (ranked 64 out of 86), but the broader 3-mile growth in households and the property s relatively newer vintage can help mitigate that headwind through competitive positioning and targeted renovations.
Neighborhood-level crime metrics were not available in WDSuite for this area. Investors typically benchmark submarket and city trends against comparable Destin neighborhoods to evaluate operational practices such as lighting, access controls, and partnership with local patrols. Consider reviewing recent trend data at the metro and city levels and aligning property-level measures with common standards for similar suburban coastal locations.
This 22-unit property at 100 Calhoun Ave was built in 2001, offering newer-vintage positioning versus much of the surrounding neighborhood. Household growth within a 3-mile radius expands the renter pool even as population trends flatten, supporting occupancy stability and renewal capture. Elevated home values relative to incomes reinforce reliance on rentals, while a moderate rent-to-income backdrop supports lease management and reduces near-term retention risk. According to CRE market data from WDSuite, the immediate neighborhood s occupancy trends sit below the metro median, making asset quality, pricing, and light value-add execution important levers for outperformance.
Operationally, smaller average unit sizes can support attainable price points and consistent demand from singles and couples, while targeted upgrades to interiors and building systems can further differentiate against older stock. Proximity to recreation and dining nodes, alongside limited in-neighborhood grocery and pharmacy options, favors residents who value lifestyle access and are comfortable with short drives for errands.
- Newer 2001 vintage versus neighborhood average supports competitive positioning; plan normal mid-life capital for systems and interiors.
- 3-mile household growth expands the tenant base and supports occupancy stability and renewal potential.
- Elevated ownership costs sustain rental demand; moderate rent-to-income dynamics aid pricing power without acute retention risk.
- Smaller average unit sizes offer attainable rents for singles/couples, supporting steady leasing velocity.
- Risk: neighborhood occupancy trends below metro median; execution on pricing, renovations, and marketing will be key to outperform.