| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 9th | Poor |
| Amenities | 92nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 508 SW 14th St, Belle Glade, FL, 33430, US |
| Region / Metro | Belle Glade |
| Year of Construction | 2003 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
508 SW 14th St Belle Glade 24-Unit Multifamily
Neighborhood data points to durable renter demand supported by a high renter-occupied share and improving occupancy, according to WDSuite’s CRE market data. Investors should view this as a workforce housing play where tenant retention hinges on rent positioning and basic upgrades rather than amenities arms races.
Belle Glade’s neighborhood context favors renter demand over ownership. The renter-occupied share is among the highest in the West Palm Beach–Boca Raton–Boynton Beach metro (13 of 319 by rank), and the area sits in the top quartile nationally for renter concentration. Neighborhood occupancy has trended higher over the past five years but remains below the metro median, suggesting room for hands-on leasing and management to stabilize performance.
Daily needs are well served: neighborhood amenity access rates in the 90th-plus national percentiles for groceries, pharmacies, and restaurants signal convenient local services that support day-to-day livability. However, average school ratings for the neighborhood track well below national norms, so family-oriented leasing strategies may need to focus on value and unit functionality rather than school district positioning.
The property’s 2003 vintage is materially newer than the neighborhood’s typical housing stock from the late 1960s. That relative youth can be a competitive advantage versus older comparables, though investors should still plan for mid-life system updates and targeted renovations to meet rent and retention goals.
Within a 3-mile radius, recent trends show a modest decline in population alongside larger household sizes, with forecasts indicating more households even as population is projected to contract. For investors, that mix points to a potentially steady or expanding tenant base driven by smaller household sizes and continued reliance on rental housing. Median home values in the neighborhood are low relative to national benchmarks, which can introduce competition from entry-level ownership; pricing discipline and basic value-add finishes can help maintain leasing velocity. Rent-to-income levels read as relatively moderate nationally, supporting the case for occupancy stability with prudent lease management.
Safety indicators for the neighborhood trend below both metro and national medians. Crime ranks in the lower tier of the West Palm Beach–Boca Raton–Boynton Beach metro (279 out of 319 neighborhoods), and national percentiles suggest the area is below the national median for overall and violent offenses. Recent year-over-year movements point to an uptick in reported incidents, underscoring the importance of standard property-level measures such as lighting, access control, and community engagement to support tenant retention.
Regional employment access is oriented to Palm Beach County job centers, with commute-based demand tied to healthcare, distribution, professional services, and corporate headquarters. The following nearby employers illustrate the employment base that can support renter demand and lease retention:
- Tenet Healthcare Corporation, Florida Region — healthcare services (36.0 miles)
- Sysco Southeast Florida — food distribution (37.4 miles)
- Siegel Financial Group - Northwestern Mutual — financial services (38.3 miles)
- Office Depot — corporate offices (39.7 miles) — HQ
- NextEra Energy — energy & corporate offices (40.4 miles) — HQ
This 24-unit, 2003-built asset offers relative age advantage versus much of the neighborhood stock, with fundamentals oriented toward workforce renters. Based on commercial real estate analysis from WDSuite, the neighborhood shows a high renter-occupied share and improving occupancy over five years, while overall occupancy remains below the metro median—an opening for hands-on management to drive stabilization. Strong everyday amenities nearby support livability, and rent-to-income levels appear moderate nationally, which can aid retention if rents are kept in line with basic finish levels.
Forward-looking demographics within a 3-mile radius suggest households are expected to increase even if population contracts, pointing to smaller household sizes and a potentially larger renter pool. Low neighborhood home values can introduce ownership competition, and safety readings are below metro and national medians. Taken together, the thesis favors durable demand at accessible price points, with value-add focused on unit turns, curb appeal, and reliable operations rather than heavy capex—while underwriting for security enhancements and conservative lease-up timelines.
- 2003 vintage provides competitive positioning versus older local stock; plan for mid-life system updates and targeted renovations.
- High neighborhood renter concentration supports demand depth and occupancy stability with attentive leasing.
- Everyday amenities score strongly, reinforcing convenience and day-to-day livability for workforce tenants.
- Household growth within 3 miles, even amid population contraction, points to a broader renter pool over time.
- Risks: below-median safety metrics, potential competition from low-cost ownership, and commute-based exposure to regional job centers.