| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 19th | Poor |
| Amenities | 40th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1050 Palm Beach Rd, South Bay, FL, 33493, US |
| Region / Metro | South Bay |
| Year of Construction | 1976 |
| Units | 40 |
| Transaction Date | 2017-07-17 |
| Transaction Price | $1,040,000 |
| Buyer | SOUTH BAY 1050 LLC |
| Seller | O Y G B CORP A FLORIDA COPR |
1050 Palm Beach Rd, South Bay — 40-Unit Multifamily Positioning
Neighborhood occupancy has trended upward and renter demand appears steady for workforce housing, according to WDSuite’s CRE market data. Location fundamentals are rural but stable, suggesting an income-focused hold with targeted upgrades rather than a lease-up play.
This rural pocket of Palm Beach County offers a quieter setting with basic conveniences; amenities score above the metro median (ranked 152 of 319), with childcare and park access outperforming national medians. Schools trend below regional norms, which can influence tenant mix toward value-oriented renters rather than families seeking top-rated districts.
For investors, the neighborhood s occupancy level is measured at the neighborhood scale, not the property; it sits in the lower half of regional rankings but has improved over five years, a constructive sign for rent roll durability. Contract rents are lower than broader metro averages, and the rent-to-income profile indicates manageable affordability pressure that can aid renewal rates and pricing discipline. In this context, commercial real estate analysis points to steady, needs-based renter demand rather than amenity-driven leasing.
Tenure patterns show a moderate renter concentration in the immediate neighborhood, while demographics aggregated within a 3-mile radius indicate a higher share of renter-occupied units and modest household growth despite a slight population decline a sign of smaller household sizes and a potentially expanding renter pool. Median home values in the neighborhood are comparatively low for the metro, which can introduce some competition from ownership options; however, accessible ownership costs often coexist with durable demand for well-managed multifamily where convenience and predictable monthly costs matter.
Vintage context matters: the property s 1976 construction is slightly newer than the local average building year, positioning it competitively versus older stock while still warranting planning for system modernization and selective value-add (exteriors, common areas, energy efficiency) to protect occupancy and rent growth.
Relative to other neighborhoods nationwide, local safety indicators are solid, with property and violent offense rates sitting in higher national percentiles (safer than average). Within the West Palm Beach Boca Raton Boynton Beach metro, the neighborhood s crime rank is competitive among peers (ranked 110 out of 319 neighborhoods). Year over year, both property and violent offense estimates have declined, which supports renter retention and reduces operational volatility, though investors should continue monitoring trends at the submarket level.
Regional employment anchors within commuting distance support a workforce renter base, with healthcare, food distribution, financial services, and corporate headquarters exposure that can aid leasing stability.
- Tenet Healthcare Corporation, Florida Region healthcare services (37.0 miles)
- Sysco Southeast Florida food distribution (40.0 miles)
- Siegel Financial Group Northwestern Mutual financial services (40.9 miles)
- Office Depot corporate offices (41.4 miles) HQ
- NextEra Energy energy & corporate (43.1 miles) HQ
This 40-unit asset provides a straightforward income strategy in a rural submarket where neighborhood-level occupancy has improved and rents remain comparatively accessible, supporting renewal potential. According to CRE market data from WDSuite, the location s safety profile is competitive within the metro and above average nationally, while the property s 1976 vintage is slightly newer than the area s typical stock a position that allows selective value-add to enhance competitiveness without a full repositioning.
Demographics aggregated within a 3-mile radius indicate stable household counts amid smaller household sizes, pointing to a steady tenant base for well-managed, needs-driven apartments. Investors should underwrite with a practical view of a limited amenity base and below-metro school ratings, balancing these with the property s affordability positioning and proximity to diversified regional employers that can support occupancy stability.
- Neighborhood occupancy trend improving, aiding income stability
- 1976 vintage offers value-add through targeted system and common-area updates
- Rents positioned for retention; manageable affordability pressure supports renewals
- Regional employers within commuting distance underpin workforce renter demand
- Risks: limited amenity base, below-metro school ratings, and distance to major job centers