| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 32nd | Fair |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6710 Saint Johns Ave, Palatka, FL, 32177, US |
| Region / Metro | Palatka |
| Year of Construction | 2004 |
| Units | 120 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6710 Saint Johns Ave Palatka Multifamily Investment
2004-vintage, 120-unit asset positioned in a suburban A+–rated neighborhood with steady neighborhood occupancy and durable renter demand, according to WDSuite’s CRE market data. The newer construction relative to local stock supports competitive positioning while allowing for selective value-add planning.
Located in Palatka’s suburban fabric, the neighborhood ranks 2 out of 36 locally, placing it in the top quartile among metro neighborhoods. Grocery and pharmacy access test above the metro median, while parks and cafes are limited, pointing to everyday convenience with fewer lifestyle amenities. Average school ratings trail national medians, which may shape the resident mix toward workforce renters rather than school-driven movers.
Neighborhood occupancy is above the metro median and competitive nationally, supporting income stability at the property level (these metrics reflect the neighborhood, not the property). The area’s average construction year skews older than 2004, giving this asset a relative edge versus legacy stock; investors should still plan for mid-life system updates and common-area refresh opportunities typical for this vintage.
Within a 3-mile radius, demographic data show households up in recent years despite a modest population dip — a sign of shifting household composition that can sustain the tenant base. Forward-looking projections indicate population and household growth over the next five years, which would expand the renter pool and help support occupancy and leasing velocity if realized.
Home values sit in a more accessible range for the region, and rent-to-income levels trend manageable. For investors, that mix can aid resident retention, though it may temper long-term pricing power compared with high-cost ownership markets. Overall, the location’s day-to-day services and stable renter concentration provide a practical backdrop for multifamily operations.
Neighborhood-level crime reporting is not available in WDSuite for this location at this time. Without verified figures, investors typically benchmark against metro and county sources and monitor trend direction to understand relative safety positioning versus regional peers.
As with any submarket lacking recent standardized readings, prudent underwriting includes cross-checking public crime datasets, talking with local property managers, and evaluating on-the-ground conditions at multiple times of day to calibrate risk and retention assumptions.
The broader labor shed features regional distribution and industrial services that can support workforce renter demand; nearby representation includes the following employer.
- Anixter — distribution and electrical supplies (35.1 miles)
The property’s 2004 construction stands newer than much of the surrounding housing stock, supporting competitiveness against older assets while leaving room for targeted value-add and capital planning. Neighborhood occupancy trends are above the metro median, and forward projections within a 3-mile radius point to population and household expansion that would broaden the renter pool and reinforce leasing stability. According to commercial real estate analysis from WDSuite, local home values and rent-to-income levels suggest retention-friendly affordability, though that same ownership accessibility may moderate outsized rent growth expectations.
Operationally, convenient access to groceries and pharmacies underpins livability, while limited parks/cafes and below-median school ratings indicate a resident profile more aligned with workforce tenancy than lifestyle- or school-driven demand. With disciplined renovations and asset management typical for a mid-2000s vintage, the investment case centers on steady occupancy, pragmatic rent growth, and durable tenant depth rather than speculative upside.
- 2004 vintage offers competitive positioning versus older neighborhood stock with measured value-add potential
- Neighborhood occupancy above metro median supports income durability (neighborhood metric, not property)
- 3-mile outlook indicates renter pool expansion, aiding leasing stability and retention
- Everyday services (grocery/pharmacy) enhance livability for workforce renters
- Risk: accessible homeownership and below-median school ratings may temper pricing power and family-driven demand