| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Best |
| Demographics | 18th | Poor |
| Amenities | 26th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 840 Oakwood St, Crescent City, FL, 32112, US |
| Region / Metro | Crescent City |
| Year of Construction | 1984 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
840 Oakwood St Crescent City Multifamily Investment
Neighborhood occupancy has trended higher over the past five years, supporting stable leasing fundamentals for a 30-unit asset, according to WDSuite’s CRE market data. Renter demand is reinforced by a higher renter-occupied share locally and a high value-to-income ownership landscape.
Crescent City sits within the Palatka, FL metro and this neighborhood carries a B rating with a suburban profile. Amenity access is modest but serviceable: grocery options rank 7 out of 36 metro neighborhoods, indicating competitive access within the metro even as cafes, parks, and pharmacies are sparse by national standards. Average school ratings in the neighborhood cluster are below national norms, which investors should consider when positioning for family renters.
Rents remain relatively attainable in this submarket while showing multi‑year growth. Neighborhood occupancy is mid‑pack within the metro (ranked 21 of 36) yet has improved over five years, a directional positive for cash flow stability. The share of housing units that are renter‑occupied is comparatively high (ranked 4 of 36), signaling a deeper tenant base than many Palatka neighborhoods and supporting demand for multifamily product.
Within a 3‑mile radius, recent years show slight population and household contraction, but projections point to renewed population growth and a larger household count by 2028. Forecasts also indicate a rising renter pool share over the same radius, which can support occupancy stability and future leasing velocity if supply remains measured.
Home values in this neighborhood sit in a high‑cost ownership context relative to local incomes (81st percentile nationally for value‑to‑income), which tends to sustain renter reliance on multifamily housing. With a rent‑to‑income ratio around the low‑to‑mid 20s, pricing power must be managed, but the ownership cost backdrop can aid retention for well‑positioned units. The property’s 1984 vintage is newer than the area’s older housing stock (average year 1958), helping competitiveness versus legacy properties while still warranting selective system upgrades or modernization to enhance appeal.
Comparable neighborhood‑level safety data are limited in the current release, so investors should benchmark against county and metro trends and review multiple sources over time. A prudent approach is to evaluate multi‑year patterns, police reports, and property‑level incident history rather than relying on a single snapshot.
From an underwriting perspective, align security measures and insurance assumptions with market norms for smaller Florida metros, and reassess during lease‑up or turnover to monitor any trend changes.
This 30‑unit asset at 840 Oakwood St offers exposure to a renter‑leaning pocket of the Palatka metro. The neighborhood’s renter‑occupied share ranks near the top locally and occupancy has improved over five years, supporting demand depth and potential lease stability. According to CRE market data from WDSuite, ownership costs relative to incomes are elevated for the area, which can reinforce reliance on rentals. Built in 1984, the property is newer than much of the surrounding housing stock, suggesting competitive positioning with targeted upgrades.
Forward‑looking demographics within a 3‑mile radius point to household growth and a larger renter pool by 2028, a tailwind for absorption if new supply remains measured. Balanced against this are modest amenity density and below‑average neighborhood school ratings, which call for careful unit finishes, service quality, and pricing strategy to maintain retention.
- Renter‑occupied share ranks among the strongest in the Palatka metro, supporting tenant base depth.
- Neighborhood occupancy has trended higher over five years, aiding cash flow stability.
- Elevated ownership costs versus incomes bolster reliance on rentals and can support retention.
- 1984 vintage is newer than local stock, with value‑add potential via modernization and systems upgrades.
- Risks: modest amenity density, below‑average school ratings, and a small‑market setting requiring disciplined pricing and leasing.