| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 32nd | Fair |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 206 Zeagler Dr, Palatka, FL, 32177, US |
| Region / Metro | Palatka |
| Year of Construction | 1993 |
| Units | 36 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
206 Zeagler Dr, Palatka, FL Multifamily Investment
Neighborhood occupancy has trended stable and sits above the metro median, according to WDSuite s CRE market data, supporting consistent cash flow potential at this address. The submarket s renter base and accessible rents point to steady demand rather than peak-cycle volatility.
The property sits in a suburban neighborhood rated A+ and ranked 2 out of 36 within the Palatka metro, indicating competitive positioning among local peers. Neighborhood occupancy is strong (ranked 4 of 36), a signal of demand depth that can help support leasing stability even as broader cycles shift.
Daily-needs access is a relative strength: grocery and pharmacy presence both rank 2 of 36 in the metro, while parks and cafes are sparse (both ranked 36 of 36). For investors, this mix supports routine convenience but suggests limited lifestyle amenities on the doorstep. Average school ratings in the neighborhood are below national norms (2.0 average; 37th percentile nationwide), a factor to consider for tenant profiles and leasing narratives.
Tenure patterns show a moderate renter concentration: 37.6% of housing units are renter-occupied. That level provides a meaningful tenant base for multifamily while avoiding oversaturation risk. Median contract rents in the neighborhood remain accessible within the region and have grown in recent years, and the rent-to-income ratio around 0.18 suggests manageable affordability from an investor standpoint, which can aid retention and reduce turnover sensitivity.
Within a 3-mile radius, demographics indicate a nuanced demand story: population modestly contracted over the last five years while household counts increased, pointing to smaller household sizes and a stable to growing pool of households seeking housing. Forecasts through 2028 call for population growth and a notable increase in households, implying a larger tenant base that can support occupancy and leasing velocity. Median home values in the neighborhood are lower than many U.S. markets, which can introduce some competition from ownership options; however, this also supports demand for well-managed rentals positioned on value and convenience.
The average construction vintage in the neighborhood is 1981, while this asset was built in 1993, making it newer than much of the surrounding stock. That relative age can be a competitive advantage versus older properties, though investors should still plan for typical mid-life systems updates or targeted renovations to enhance positioning and capture value-add upside.
Comparable crime rankings and percentiles for this neighborhood are not available in WDSuite s dataset for the Palatka metro. Investors typically benchmark neighborhood safety by reviewing metro-level comparisons, recent trend direction, and local law enforcement or municipal reports during diligence.
As with any market, prudent underwriting includes reviewing time-series trends, confirming any recent changes in policing or community programs, and aligning insurance assumptions and security measures with observed conditions.
Regional employment nodes within commuting range contribute to renter demand, with representation from corporate offices that can support stable workforce housing needs.
- Anixter corporate offices (35.2 miles)
Built in 1993 and positioned in one of the Palatka metro s highest-ranked neighborhoods, this 36-unit asset benefits from strong neighborhood occupancy and a moderate renter-occupied share that supports a stable tenant base. According to CRE market data from WDSuite, the area s rent levels and rent-to-income dynamics point to manageable affordability, which can aid retention and reduce lease friction. The property s relatively newer vintage versus the neighborhood average also suggests competitive positioning, with targeted renovations offering potential to further differentiate against older stock.
Within a 3-mile radius, recent household growth alongside modest population decline indicates smaller household sizes and steady housing demand; forward-looking projections call for growth in both population and households by 2028, reinforcing the outlook for renter pool expansion. While local lifestyle amenities are limited and school ratings trail national averages, daily-needs access is strong, and the metro context suggests income gains and rent growth potential can be captured through disciplined operations rather than speculative expectations.
- Top-tier neighborhood rank (2 of 36) supports leasing stability within the metro
- 1993 vintage offers competitive edge versus older local stock, with value-add potential via selective updates
- Manageable rent-to-income dynamics support tenant retention and pricing discipline
- 3-mile household growth and projected expansion by 2028 point to a larger renter base
- Risks: limited nearby lifestyle amenities and below-average school ratings may temper premium positioning; underwriting should emphasize operations and unit-level upgrades