| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 70th | Best |
| Demographics | 37th | Poor |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4742 Grove St, West Palm Bch, FL, 33415, US |
| Region / Metro | West Palm Bch |
| Year of Construction | 1978 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4742 Grove St, West Palm Beach Multifamily Investment
Neighborhood occupancy has been resilient and demand is supported by local incomes, according to WDSuite s CRE market data. This location offers steady renter depth relative to nearby ownership costs without relying on outsized rent growth.
Situated in an inner-suburb pocket of the West Palm Beach Boca Raton Boynton Beach metro, the neighborhood posts high occupancy and steady renter demand. With an occupancy rank of 16 out of 319 metro neighborhoods and a national standing in the top quartile, investors can underwrite with an expectation of comparatively stable lease-up and retention, based on CRE market data from WDSuite.
Daily needs are reasonably accessible: restaurants and grocery options index above many U.S. neighborhoods, while parks density ranks among the strongest nationally. Café, childcare, and pharmacy density are thinner locally, suggesting residents may rely on a slightly broader trade area for some services.
Within a 3-mile radius, population and household counts have increased and are projected to continue growing through the next five years, pointing to a larger tenant base over time. The renter-occupied share sits around half of housing units, which supports depth for multifamily leasing and renewals. A gradual reduction in average household size in the area implies continued demand for professionally managed rental housing.
Ownership costs in the neighborhood are elevated relative to national medians, and local rents benchmark above many U.S. neighborhoods while rent-to-income levels remain manageable. For investors, this combination supports pricing power while still allowing room to manage retention through renewals rather than turnover-driven strategies.
Safety indicators are mixed when viewed across geographies. At the metro level, the neighborhood s overall crime rank is 217 out of 319, placing it below the metro median and warranting continued monitoring. Nationally, the area sits around the middle of the pack overall, with violent and property offense measures comparing more favorably than many neighborhoods nationwide.
Recent data also show a year-over-year uptick in property-related incidents. Investors should incorporate prudent security and lighting standards and consider partnership with local community programs to support resident satisfaction and retention over the hold.
The employment base nearby blends finance, food distribution, energy, office retail, and healthcare, supporting workforce and professional renter demand with commute convenience to Siegel Financial Group Northwestern Mutual, Sysco Southeast Florida, NextEra Energy, Office Depot, and Tenet Healthcare Corporation, Florida Region.
- Siegel Financial Group Northwestern Mutual financial services (3.5 miles)
- Sysco Southeast Florida food distribution (5.6 miles)
- NextEra Energy energy & corporate offices (12.1 miles) HQ
- Office Depot office retail corporate (19.7 miles) HQ
- Tenet Healthcare Corporation, Florida Region healthcare administration (28.5 miles)
This 28-unit asset benefits from a neighborhood with strong occupancy performance competitive among West Palm Beach Boca Raton Boynton Beach neighborhoods and in the top quartile nationally and from an expanding 3-mile renter pool. Elevated ownership costs versus national norms, paired with manageable rent-to-income levels, reinforce rental demand and support lease retention. According to CRE market data from WDSuite, local restaurants, grocery access, and park coverage are relative strengths that enhance livability for residents.
Forward-looking demographics within 3 miles point to continued population and household growth and smaller average household sizes, which typically translate into wider renter demand and support for occupancy stability. Key risks to underwrite include mixed metro-relative safety rankings, thinner café/pharmacy density nearby, and the potential for a rising homeownership share that could introduce some competition with for-sale options.
- High neighborhood occupancy with competitive metro ranking and top-quartile national standing
- Expanding 3-mile renter base with projected population and household growth
- Elevated ownership costs and manageable rent-to-income support pricing power and renewals
- Proximity to diversified employers underpins workforce demand and retention
- Risks: mixed metro-relative safety metrics, thinner nearby amenities for certain services, and potential tilt toward ownership