| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 32nd | Fair |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6501 Saint Johns Ave, Palatka, FL, 32177, US |
| Region / Metro | Palatka |
| Year of Construction | 1989 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6501 Saint Johns Ave Palatka Multifamily Investment
Neighborhood occupancy is in the top quartile among 36 metro neighborhoods, supporting stable renter demand for this 48-unit asset, according to WDSuite’s CRE market data. The location’s fundamentals lean toward steady operations rather than outsized rent growth swings.
Rated A+ at the neighborhood level and competitive among Palatka submarkets, the area shows solid livability drivers that matter to multifamily investors. Grocery and pharmacy access rank near the top locally (2nd of 36 neighborhoods), while broader amenity density is moderate by national standards. School ratings trend below national averages, which can influence family-oriented demand but is often less decisive for workforce housing.
Rents in the neighborhood sit below national medians, and the rent-to-income ratio around 0.18 indicates manageable affordability pressure — a potential positive for retention and occupancy. Median home values are lower than many coastal Florida markets, which can introduce some competition from ownership; however, the ownership landscape often sustains renter reliance on multifamily housing where down-payment readiness varies.
Tenure patterns signal a meaningful renter-occupied share within the 3-mile radius, providing depth to the tenant base. Demographic statistics are aggregated within a 3-mile radius and show a small population dip recently alongside a rise in households, implying smaller household sizes and a renter pool that remains active. Forward-looking data point to population growth and a sizable increase in households over the next five years, which supports occupancy stability and leasing velocity for well-positioned assets.
The property’s 1989 vintage is newer than the neighborhood’s average construction year (1981), offering a relative edge versus older local stock. Investors should still plan for aging-system upgrades and targeted modernization to sustain competitiveness against refreshed inventory.
Neighborhood-level crime metrics are not available in this dataset for precise comparison. Investors typically benchmark safety by reviewing multi-year trends for the broader region and property-level incident history rather than relying on block-level snapshots. Pairing local police reports with insurer and lender diligence can help contextualize risk and its potential impact on retention and insurance costs.
This 48-unit asset benefits from a neighborhood that ranks in the top quartile for occupancy among 36 metro neighborhoods, with rents that remain relatively accessible — conditions that can support steady lease-up and retention. Based on CRE market data from WDSuite, the area’s household counts are increasing within a 3-mile radius even as recent population trends were mixed, which points to a stable or expanding tenant base over the medium term.
The 1989 vintage is slightly newer than the local average, suggesting competitive positioning versus older stock, while still warranting capital planning for building systems and selective upgrades. Amenity access is strongest for daily needs (grocery and pharmacies), which aligns with workforce housing demand, though limited park and cafe density and below-average school ratings are considerations when targeting family-heavy renter segments.
- Occupancy performance in the top quartile locally supports stable cash flow potential.
- Household growth within 3 miles indicates a larger tenant base and leasing durability.
- 1989 vintage offers relative competitiveness versus older neighborhood stock with manageable modernization needs.
- Daily-needs amenities (grocery, pharmacy) nearby align with workforce renter preferences.
- Risks: thinner lifestyle amenity density and lower school ratings may limit appeal to some cohorts; plan capex for systems as the asset ages.