| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 43rd | Fair |
| Amenities | 15th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 953 McFarlan Ave, Fort Walton Beach, FL, 32547, US |
| Region / Metro | Fort Walton Beach |
| Year of Construction | 1983 |
| Units | 24 |
| Transaction Date | 2007-12-20 |
| Transaction Price | $12,036,300 |
| Buyer | WNY-CQ PORTFOLIO LLC |
| Seller | ECH II-CAPTAINS QUARTERS LLC |
953 McFarlan Ave, Fort Walton Beach Multifamily Investment
Neighborhood occupancy has been resilient and renter demand is supported by a balanced owner–renter mix, according to WDSuite’s CRE market data. Investors should view this location as a steady, needs-based rental market with room for value-add execution.
Situated in an inner-suburb setting of Fort Walton Beach, the property benefits from a neighborhood profile that skews toward stable, needs-driven housing. Neighborhood occupancy is 96.5% and ranks 12th among 86 metro neighborhoods (top quartile locally) and around the 80th percentile nationally, signaling relatively durable leasing conditions for multifamily.
The renter-occupied share of housing units is 51.3%, ranking 7th of 86 in the metro. This above-median renter concentration indicates a deep tenant base and supports ongoing demand for smaller unit formats. Median contract rents in the neighborhood sit near the middle of the national distribution, while rent-to-income levels point to manageable affordability pressure that can help sustain retention.
Local amenity density is thin for restaurants, groceries, parks, and pharmacies, though childcare access is comparatively strong (high national percentile), which can help serve working households. For investors, the limited retail mix nearby places more emphasis on property-level features and management to drive resident satisfaction and renewals.
Home values are elevated for the area relative to incomes (high national value-to-income percentile), which tends to reinforce renter reliance on multifamily housing and can support pricing power when paired with solid operations. Demographic figures aggregated within a 3-mile radius show recent population and household growth with further gains projected, expanding the prospective renter pool and supporting occupancy stability.
Comparable crime benchmarks for this neighborhood were not available in the current dataset. Investors typically contextualize safety using multiple sources, including municipal reporting and property-level incident trends, to assess how the area compares to broader Crestview–Fort Walton Beach–Destin patterns over time.
The investment thesis centers on occupancy stability, a renter-leaning neighborhood, and ownership costs that keep many households in the rental market. Based on CRE market data from WDSuite, neighborhood occupancy ranks in the top quartile of the metro and near the top quintile nationally, indicating supportive fundamentals for lease-up and renewals relative to many competing sub-neighborhoods.
Built in 1983, the asset is older than the neighborhood’s average vintage, suggesting a clear value-add path through targeted renovations and systems updates. Demographic metrics within a 3-mile radius indicate population and household growth with further increases forecast, which expands the tenant base; at the same time, thin nearby retail and rising rents imply the need for attentive lease management to balance revenue growth with retention.
- Occupancy resilience: neighborhood ranks 12 of 86 locally and is strong nationally, supporting leasing stability.
- Renter demand depth: renter-occupied share above metro median, providing a consistent tenant pipeline.
- Value-add potential: 1983 vintage allows for targeted renovations and operational improvements.
- Demographic tailwinds: 3-mile population and household growth support long-run absorption and renewals.
- Risks: limited nearby amenities and rising rents may elevate affordability pressure; proactive resident engagement and expense planning are important.