| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 32nd | Fair |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 607 S Moody Rd, Palatka, FL, 32177, US |
| Region / Metro | Palatka |
| Year of Construction | 1986 |
| Units | 104 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
607 S Moody Rd Palatka 104-Unit Multifamily
Neighborhood occupancy has trended stable with solid renter demand and manageable rent-to-income levels, according to WDSuite’s CRE market data. The property’s scale positions it to capture steady leasing in a suburban node where renter concentration is competitive within the metro.
The surrounding neighborhood rates A+ and is competitive among Palatka neighborhoods (ranked 2 of 36), indicating durable location fundamentals for workforce housing. Neighborhood occupancy is 94.5% (top quartile among 36 metro neighborhoods) and has improved over the last five years, a backdrop that supports income stability and lease retention for multifamily assets.
Renter-occupied share is strong locally, with the neighborhood’s renter concentration ranked in the top quartile among 36 metro neighborhoods. Within a 3-mile radius, 43.2% of housing units are renter-occupied, creating a sizable tenant base for a 100+ unit asset and helping sustain absorption and renewal velocity.
Livability is mixed but serviceable for daily needs: grocery and pharmacy access rank near the top of the metro (both 2 of 36), while cafes and parks are limited. Average school ratings in the neighborhood trail national norms (national percentile 37), an element to consider for family-oriented leasing but not necessarily a constraint for workforce-oriented properties.
On pricing and affordability, median contract rents in the neighborhood sit above the metro median but below the national mid-point, while the rent-to-income ratio is moderate. In a high-cost ownership context this would typically reinforce rental demand; here, home values and a value-to-income ratio near national mid-range suggest some competition from ownership, so pricing power should be balanced with retention-focused lease management. Construction vintage in the area skews early-1980s; this asset’s 1986 delivery is slightly newer than the neighborhood average (1981), offering a relative competitive edge to older stock while still warranting planning for systems upgrades and selective renovations over the hold.
Demographic statistics aggregated within a 3-mile radius show recent population growth with a larger increase in households, signaling smaller household sizes and an expanding renter pool. Forward-looking projections point to continued population and household gains, which should broaden the tenant base and support occupancy stability through the next cycle, based on CRE market data from WDSuite.
Comparable neighborhood-level crime data are not available in WDSuite for this location. Investors typically benchmark city and county trends, review multi-year patterns, and align security measures with property operations to support resident retention and asset performance.
Regional employment access extends to logistics and industrial suppliers, which can support workforce housing demand through commutable jobs.
- Anixter — distribution and electrical supplies (35.2 miles)
This 1986, 104-unit asset aligns with a neighborhood that is competitive within the Palatka metro, where occupancy is top quartile and renter concentration is elevated. The building’s slightly newer vintage versus the local average positions it well against older stock, while also indicating potential value-add through targeted interior updates and systems modernization.
Neighborhood rents sit above the metro median but below national mid-point, and rent-to-income levels are moderate, supporting demand depth without overextending residents. Demographic trends within a 3-mile radius point to population growth and a faster rise in household counts, expanding the renter pool and supporting leasing continuity. According to CRE market data from WDSuite, these dynamics, coupled with serviceable access to daily-needs retail, suggest steady occupancy with prudent expense and capital planning.
- Top-quartile neighborhood occupancy within the metro supports income stability
- Renter-occupied share locally and a growing 3-mile household base deepen the tenant pool
- 1986 vintage offers competitive positioning vs. older stock with value-add potential
- Rents above metro but below national mid-point provide room for disciplined optimization
- Risks: below-average school ratings, limited nearby lifestyle amenities, and some competition from ownership options