| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Good |
| Demographics | 32nd | Poor |
| Amenities | 54th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1600 Hunt Club St, Fort Walton Beach, FL, 32547, US |
| Region / Metro | Fort Walton Beach |
| Year of Construction | 2004 |
| Units | 24 |
| Transaction Date | 2021-11-19 |
| Transaction Price | $2,200,000 |
| Buyer | HALLMARK HEATHER GLENN LLC |
| Seller | SHELTERING PALMS HEATHER GLENN LLC |
1600 Hunt Club St, Fort Walton Beach 24-Unit Multifamily
Neighborhood fundamentals point to durable renter demand and high occupancy, with the area ranking in the top quartile among 86 metro neighborhoods for occupancy stability, according to WDSuite’s CRE market data.
Located in an inner-suburb pocket of Fort Walton Beach, the property benefits from daily-needs convenience and dining density, with neighborhood restaurant and grocery presence ranking above many local peers. This supports leasing velocity and retention for workforce-oriented units, while the limited park and childcare presence suggests fewer lifestyle amenities to market.
The submarket’s renter-occupied share is elevated at the neighborhood level, indicating a deeper tenant base and reinforcing multifamily demand. Occupancy across the neighborhood has been strong and positioned in the top quartile locally, a constructive signal for cash flow consistency relative to metro peers based on CRE market data from WDSuite.
Within a 3-mile radius, demographics show modest recent population growth with a larger increase in households, pointing to slightly smaller household sizes and a broader tenant pool. Forward-looking projections indicate additional population and household gains over the next five years, which can widen the renter base and help sustain occupancy.
The property’s 2004 construction is newer than the neighborhood’s typical 1980s vintage, which can aid competitive positioning versus older stock. Investors should still plan for mid-life systems maintenance and selective upgrades to sharpen curb appeal and operational efficiency.
Home values in the neighborhood are elevated relative to local incomes, placing the area in a higher national percentile for value-to-income. In practice, a high-cost ownership market often sustains reliance on rentals, supporting tenant retention and pricing power, while rent-to-income levels near 0.29 suggest monitoring affordability pressure in lease management.
Comparable neighborhood safety indicators for this specific area are not available in the current data release. Investors typically benchmark local trends against metro and national patterns to understand directional change and relative positioning; refreshing crime and safety reviews alongside property operations and tenant profile is recommended as part of due diligence.
Proximity to employment centers supports renter demand and commute convenience; however, verified nearby employer-distance records are not available for this address in the current dataset.
This 24-unit, 2004-vintage asset sits in a neighborhood with strong occupancy and an above-average renter concentration, reinforcing depth of tenant demand. Daily-needs retail and dining access are favorable drivers for leasing and retention, while ownership costs in the area help sustain reliance on rentals. According to CRE market data from WDSuite, neighborhood occupancy trends rank among the stronger cohorts locally, supporting a case for stable operations.
Demographic patterns within a 3-mile radius show recent population and household growth, with projections indicating further expansion that can broaden the renter pool. The asset’s newer vintage versus much of the surrounding stock can enhance competitive positioning, though investors should budget for mid-life systems and targeted upgrades. Affordability pressure and thinner lifestyle amenities in parts of the neighborhood should be monitored as potential constraints on pricing power.
- Strong neighborhood occupancy and elevated renter-occupied share support demand stability
- 2004 vintage offers competitive positioning versus older local stock, with manageable mid-life capex planning
- Household and population growth within 3 miles expand the tenant base and support leasing
- Daily-needs amenities and dining density aid retention and day-to-day convenience
- Risks: affordability pressure may temper pricing power; limited park/childcare amenities could constrain appeal