| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 71st | Best |
| Amenities | 27th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1100 Pippin Dr, Mary Esther, FL, 32569, US |
| Region / Metro | Mary Esther |
| Year of Construction | 1993 |
| Units | 84 |
| Transaction Date | 2015-01-12 |
| Transaction Price | $6,800,000 |
| Buyer | SOUNDVIEW PARTNERS LLC |
| Seller | SOUNDVIEW APARTMENTS LLC, Corporation, SOUNDVIEW APARTMENTS LLC, PriceCash Equivalent Price/sf |
1100 Pippin Dr Mary Esther Multifamily Investment
Stabilized suburban fundamentals and a growing 3-mile renter pool indicate steady demand, according to WDSuite’s CRE market data. 1993 vintage with scale offers clear value-add planning potential relative to newer nearby stock.
This suburban neighborhood in the Crestview–Fort Walton Beach–Destin metro carries a B+ rating and is competitive among 86 metro neighborhoods (rank 29 of 86). Restaurants and daily needs are convenient, with restaurant density in the top quartile locally (rank 12 of 86) and grocery access also in the top quartile (rank 14 of 86). Cafés, parks, and pharmacies are thinner in immediate proximity, which may modestly limit walk-to amenities.
Schools benchmark well: the average school rating is in the top quartile among 86 metro neighborhoods (rank 5 of 86) and in the top quartile nationally (84th percentile). For investors, stronger school performance can support family-oriented demand and lease retention for larger floor plans.
Neighborhood occupancy is competitive among metro peers (rank 33 of 86) and near the national midpoint (48th percentile). The share of renter-occupied housing is above the metro median (rank 26 of 86), signaling a reasonably deep tenant base for multifamily. Median home values sit above the national midpoint (63rd percentile), which tends to sustain reliance on rentals and can help support pricing power.
Demographic statistics aggregated within a 3-mile radius point to a larger tenant base over time: population and households expanded over the last five years, with forecasts showing further household growth and a gradual shift toward smaller household sizes. Rising household incomes and contract rents in the area suggest capacity for rent levels that support modernized assets, a takeaway reinforced by commercial real estate analysis from WDSuite.
Relative to the neighborhood’s newer average construction year (2001), the property’s 1993 vintage is older. That gap can translate into targeted capital expenditure needs and potential renovation upside to compete effectively with later-vintage stock.
Neighborhood-level crime metrics were not available in WDSuite for this address, so we avoid block-by-block conclusions. Investors should benchmark safety perceptions against broader city and metro trends and incorporate on-the-ground diligence (property-level incident logs, lighting, access controls) when assessing leasing risk and retention.
The local employment base across the Fort Walton Beach–Destin area supports commuter convenience and renter demand; however, WDSuite does not provide distance-verified nearby anchor employers for this specific address. Investors typically evaluate proximity to regional healthcare, defense, and tourism employers when underwriting.
The 84-unit, 1993-vintage asset offers scale in a suburban submarket where occupancy trends are competitive among metro peers and the 3-mile area shows ongoing population growth and a forecast increase in households—favorable signals for multifamily demand depth and occupancy stability. Relative to a local average construction year of 2001, the vintage positions the property for value-add upgrades that can improve competitive standing versus newer product.
Home values above the national midpoint help sustain rental reliance, while rent-to-income levels near the national midpoint suggest manageable affordability pressure and support for disciplined rent strategies. According to CRE market data from WDSuite, strong school ratings and top-quartile neighborhood amenities in restaurants and groceries further underpin leasing fundamentals, though thinner café/park access is a modest amenity gap to consider.
- Competitive neighborhood occupancy with expanding 3-mile renter pool supports demand and retention.
- 1993 vintage relative to 2001 neighborhood average suggests clear value-add and capex planning opportunities.
- Above-median home values reinforce reliance on rentals, aiding pricing power and lease stability.
- Strong nearby school ratings and top-quartile restaurant/grocery access bolster family and lifestyle appeal.
- Risks: thinner café/park access and older vintage require targeted upgrades and amenity positioning.