| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 32nd | Fair |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 200 College Rd, Palatka, FL, 32177, US |
| Region / Metro | Palatka |
| Year of Construction | 1980 |
| Units | 23 |
| Transaction Date | 2007-08-30 |
| Transaction Price | $2,060,000 |
| Buyer | SM PALATKA LLC |
| Seller | PALATKA OAKS APARTMENTS LLC |
200 College Rd Palatka FL Multifamily Investment
Neighborhood occupancy has remained resilient, supporting stable renter demand according to WDSuite’s CRE market data. For investors, this points to consistent leasing fundamentals with room to optimize operations.
Located in suburban Palatka, the neighborhood rates A+ and ranks 2 out of 36 within the metro, indicating competitive positioning among Palatka neighborhoods. According to WDSuite’s commercial real estate analysis, neighborhood occupancy is 94.5% and has trended higher over the past five years, a favorable backdrop for maintaining cash flow at stabilized assets.
Daily needs are serviceable rather than destination-driven: grocery and pharmacy access rank 2 of 36, while restaurants rank 4 of 36 in the metro, signaling practical convenience. By contrast, cafes and parks rank 36 of 36, suggesting limited lifestyle amenities within the immediate area. Average school ratings trend below national norms, which can influence renter profiles and marketing strategy, but does not preclude workforce demand.
Tenure dynamics support a measurable renter base: renter-occupied housing comprises 37.6% of neighborhood units, providing depth for multifamily leasing without overreliance on transient demand. Within a 3-mile radius, households have grown in recent years and are projected to expand further, pointing to a larger tenant pool and support for occupancy stability. Income trends have strengthened versus prior periods, which can aid rent collections and retention, while still requiring attention to price-to-income alignment.
Home values in the neighborhood are lower than many coastal Florida markets, which can mean more accessible homeownership options relative to high-cost metros. For multifamily owners, this typically translates to steady but more price-sensitive rental demand, reinforcing the importance of value-focused positioning and lease management.
Comparable neighborhood crime metrics are not available from WDSuite for this area. Investors typically benchmark neighborhood safety against metro averages and multi-year trends using public sources and insurer data to understand trajectory rather than a single-year snapshot. Given limited published data here, incorporate local reports and property-level history into due diligence to contextualize resident retention and operating practices.
The broader labor shed includes regional corporate offices that contribute to commuter demand. Notable nearby employment reachable by highway access includes the following.
- Anixter — corporate offices (35.1 miles)
This 23-unit asset benefits from a neighborhood that ranks near the top of the Palatka metro and has demonstrated stable occupancy, supporting income consistency and manageable turnover risk. Household expansion within a 3-mile radius points to a growing renter pool over the next several years, which can underpin sustained leasing and prudent rent steps. According to CRE market data from WDSuite, neighborhood occupancy trends and renter concentration provide a solid foundation for workforce housing strategies.
Operationally, practical access to groceries and pharmacies helps meet day-to-day needs, while limited lifestyle amenities and below-average school ratings suggest positioning focused on value, convenience, and retention. Ownership costs in the area are comparatively accessible, so pricing discipline and service quality are key to defending occupancy and renewals.
- Neighborhood ranks near the top of the metro with historically steady occupancy supporting cash flow stability
- Growing 3-mile household base expands the tenant pool and supports leasing durability
- Practical amenity access (grocery, pharmacy) aligns with workforce housing positioning and retention
- Risk: limited lifestyle amenities and lower school ratings require value-forward marketing and service to maintain renewals
- Risk: accessible homeownership options in the area heighten the need for competitive rent-setting and resident experience