| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Best |
| Demographics | 32nd | Fair |
| Amenities | 39th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 700 Forest Glen Dr, Palatka, FL, 32177, US |
| Region / Metro | Palatka |
| Year of Construction | 1983 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
700 Forest Glen Dr Palatka Multifamily Investment
Neighborhood occupancy is competitive among Palatka submarkets and remains above the metro median, supporting stable leasing conditions according to WDSuite’s CRE market data.
Situated in a suburban pocket of Palatka, the neighborhood posts a strong overall profile (A+ rating) with occupancy that ranks 4th among 36 metro neighborhoods—above the metro median and indicative of steady renter demand. Renter-occupied housing accounts for a meaningful share of units (ranked 5th of 36 locally and higher than many neighborhoods nationwide), which expands the tenant base for a 30-unit asset.
Livability signals are mixed but workable for workforce renters. Grocery and pharmacy access are competitive locally (both ranked 2nd of 36), while cafes and parks are limited in the immediate area. Average school ratings in the neighborhood track below national norms (around the 37th percentile), which investors should factor into family-oriented leasing strategies.
Within a 3-mile radius, household counts have increased in recent years and are projected to expand further by 2028, pointing to a larger tenant base and potential support for occupancy stability. Population trends have been near flat historically but are forecast to grow, while median incomes have risen—conditions that can underpin demand for rental units even as household sizes edge lower.
Pricing context suggests a high-cost ownership market is not the primary barrier here; home values sit below many national peers, which can create some competition from entry-level ownership. For multifamily owners, this typically favors retention through value and service, with rent-to-income levels that suggest manageable affordability pressure and measured pricing power rather than outsized gains.
Comparable neighborhood-level safety metrics are not available in WDSuite for this location, so investors typically benchmark against city and county trends when property-specific data is limited. A prudent approach is to assess multi-year, area-wide patterns and pair them with on-the-ground management insights to inform capital planning and tenant retention strategies.
- Anixter — distribution and network infrastructure (35.4 miles)
This 1983 vintage, 30-unit property benefits from a neighborhood with above-median occupancy and a solid renter base relative to the metro, supporting day-one leasing stability. Within a 3-mile radius, household growth and rising incomes point to gradual renter pool expansion, while homeownership remains comparatively accessible—implying steady, but measured, pricing power. Based on commercial real estate analysis sourced from WDSuite, local amenities skew toward essential services (groceries, pharmacies) rather than lifestyle, aligning with workforce housing demand.
The 1983 construction year suggests potential value-add through unit modernization and systems upgrades to enhance competitiveness versus older stock nearby. Key watch items include average school quality and limited lifestyle amenities, which may influence family-oriented demand and marketing. Overall, fundamentals favor stable occupancy with upside via targeted renovations and disciplined lease management.
- Above-median neighborhood occupancy supports leasing stability.
- Renter concentration and growing households within 3 miles expand the tenant base.
- 1983 vintage provides value-add potential through renovations and system updates.
- Essential-service amenities nearby fit workforce demand; pricing power likely measured.
- Risks: below-average school ratings, limited lifestyle amenities, and some competition from entry-level ownership.