| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 47th | Fair |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1925 Merry Pl, West Palm Beach, FL, 33407, US |
| Region / Metro | West Palm Beach |
| Year of Construction | 2008 |
| Units | 32 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1925 Merry Pl, West Palm Beach Multifamily Investment
Amenity-dense inner suburb with a high share of renter-occupied units supports a stable tenant base; according to WDSuite’s CRE market data, neighborhood rents trend above national medians while income gains help underpin leasing resilience.
Located in West Palm Beach’s inner-suburb fabric, the property benefits from strong neighborhood amenities: cafes, parks, restaurants, and pharmacies all rank in high national percentiles, with overall amenity access ranked 19th out of 319 metro neighborhoods — competitive locally and top quartile nationally based on WDSuite’s CRE market data. This concentration of daily-needs and lifestyle options supports resident retention and leasing velocity.
The area skews renter-heavy, with a high share of renter-occupied units (top decile nationally), indicating depth in the tenant base and consistent multifamily demand. Neighborhood contract rents benchmark above national medians, and the rent-to-income profile suggests manageable affordability pressure that can aid renewals and reduce turnover risk.
Demographic statistics aggregated within a 3-mile radius show population growth and a faster increase in households, which points to smaller household sizes and a widening renter pool. This trend supports occupancy stability and near-term leasing, even as competitive supply across parts of the metro may create more options for residents.
The property’s 2008 construction is newer than the neighborhood’s average vintage (late 1980s), providing competitive positioning versus older stock. Investors should still plan for routine modernization and system updates to sustain rentability over the hold. School ratings in the broader area sit in lower national tiers, so marketing emphasis typically leans on convenience, employment access, and lifestyle amenities rather than K–12 performance.
Safety metrics for the neighborhood rank in the lower tier among the 319 metro neighborhoods and sit below national medians. That said, WDSuite’s data indicates year-over-year declines in estimated property and violent offense rates, suggesting incremental improvement. Investors should underwrite prudent security and site-management measures and monitor submarket trend lines rather than block-level assumptions.
Proximity to regional employers supports commuter convenience and renter retention, with a mix of financial services, foodservice distribution, utilities, office retail, and healthcare represented nearby.
- Siegel Financial Group - Northwestern Mutual — financial services (1.4 miles)
- Sysco Southeast Florida — foodservice distribution (3.2 miles)
- NextEra Energy — electric utility (8.9 miles) — HQ
- Office Depot — office supplies retail (22.9 miles) — HQ
- Tenet Healthcare Corporation, Florida Region — healthcare services (32.6 miles)
This 32-unit, 2008-vintage asset aligns with renter demand drivers in an amenity-rich inner-suburb location. The neighborhood’s high renter concentration, strong daily-needs access, and household growth within a 3-mile radius support a broad tenant base and leasing durability. According to CRE market data from WDSuite, neighborhood rents trend above national medians while rent-to-income signals are manageable, reinforcing renewal potential. Newer construction relative to local stock enhances competitiveness versus older properties, though investors should plan for selective modernization as systems age.
Key considerations include below-median safety metrics and softer neighborhood occupancy relative to national benchmarks, which argue for proactive property management and conservative lease-up assumptions. Offsetting strengths include proximity to diversified employers and high amenity density, which can sustain absorption and retention across market cycles.
- 2008 construction competes well against older neighborhood stock, with targeted upgrades extending rentability
- High renter concentration and amenity density support demand depth and renewal prospects
- 3-mile population and household growth point to a larger tenant base and leasing stability
- Employer access across finance, distribution, utilities, and healthcare underpins commuter convenience
- Risks: below-median safety outcomes and softer neighborhood occupancy warrant conservative underwriting and active management