| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Best |
| Demographics | 32nd | Poor |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1901 Harbor Bay Ct, Kissimmee, FL, 34741, US |
| Region / Metro | Kissimmee |
| Year of Construction | 2002 |
| Units | 86 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1901 Harbor Bay Ct Kissimmee Multifamily Opportunity
Positioned in Kissimmee s inner suburb, the asset benefits from a sizable renter base and improving neighborhood fundamentals, according to WDSuite s CRE market data.
This Inner Suburb location balances everyday convenience with steady renter demand drivers. Dining and grocery access score well relative to national peers, with restaurants and cafes concentrated at levels typical of top-quartile neighborhoods nationally, while grocery options are similarly strong. By contrast, parks, pharmacies, and formal childcare options are thinner in the immediate area, so residents depend more on nearby commercial corridors for services.
The neighborhood s renter concentration is meaningful: within a 3-mile radius, a majority of housing units are renter-occupied, supporting depth in the tenant pool and day-to-day leasing traffic. Population and household counts within 3 miles have expanded over the past five years, indicating a larger tenant base and supporting occupancy stability going forward. Forecasts in WDSuite point to continued growth in households through the next cycle, which typically sustains demand for multifamily units.
From an income and cost perspective, elevated home values relative to local incomes create a high-cost ownership market. For multifamily investors, that tends to reinforce renter reliance on apartments and can support pricing power, provided rent-to-income levels are managed to limit affordability pressure and retention risk. Neighborhood median asking rents sit above many national peers, consistent with stronger amenity access and proximity to major employment centers.
Vintage also matters for competitive positioning. Built in 2002, the property is newer than the neighborhood s average construction year. That typically translates to relative appeal versus older stock, though investors should plan for selective modernization and system updates as the asset approaches mid-life to protect NOI and leasing velocity.
Safety trends are mixed. Neighborhood crime sits below the national median for safety, with WDSuite s metrics indicating the area performs weaker than many Orlando Kissimmee Sanford neighborhoods. However, recent data show property offense rates have eased year over year, an encouraging directional trend investors can monitor alongside local policing and community programs.
For underwriting, a prudent approach is to compare loss histories and security line items to submarket norms, emphasize lighting and access controls, and assess how current operations address after-hours activity. Monitoring multi-year trends rather than any single data point provides a clearer read on risk.
Proximity to regional employers supports workforce housing demand and commute convenience for residents. Nearby corporate offices span restaurant headquarters, logistics, industrial gases, and financial services the same employers listed below.
- Darden Restaurants restaurant group HQ (7.5 miles) HQ
- Ryder logistics (10.4 miles)
- Airgas Specialty Products industrial gases (11.5 miles)
- Prudential financial services (12.2 miles)
The investment case centers on durable renter demand, location convenience, and relative competitiveness for a 2002-vintage asset. Within a 3-mile radius, a majority of homes are renter-occupied and both population and household counts have grown, expanding the tenant base. Neighborhood rents and NOI per unit trend above many national peers, and elevated ownership costs in the area tend to sustain apartment demand, according to CRE market data from WDSuite. While neighborhood occupancy has been softer historically, recent directional improvement suggests stabilization potential with disciplined operations.
As a newer-than-average product for the area, the property should compare well versus older stock, though mid-life systems and common areas may benefit from targeted upgrades to preserve competitiveness. Underwriting should also factor local service-access gaps (parks/pharmacies) and safety monitoring consistent with metro norms.
- Deep renter pool within 3 miles supports leasing and retention
- 2002 vintage provides competitive positioning versus older stock; plan selective modernization
- Elevated ownership costs reinforce apartment demand and pricing discipline
- Directional improvement in neighborhood occupancy offers stabilization upside with active management
- Risks: weaker school ratings and safety relative to national averages; thinner parks/pharmacies access