| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Best |
| Demographics | 42nd | Best |
| Amenities | 11th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 570 3rd Ave, Welaka, FL, 32193, US |
| Region / Metro | Welaka |
| Year of Construction | 1995 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
570 3rd Ave, Welaka FL Multifamily Investment
Neighborhood renter demand is selective in this rural pocket of Palatka, but steady rent levels and a predominantly owner-occupied area can support stable tenancy for well-managed assets, according to WDSuite’s CRE market data.
Welaka sits within the Palatka, FL metro and presents a small, rural renter pool with limited amenity density. Neighborhood metrics indicate the area is competitive among Palatka neighborhoods for overall livability (ranked 9th of 36), yet amenities are sparse by national standards, underscored by low cafe, park, and childcare presence. These figures describe the neighborhood, not the property, and signal that on-site conveniences and property-level services can be important differentiators for leasing.
The neighborhood’s renter-occupied share is modest, reflecting a primarily owner-occupied housing base. For investors, that means demand depth is thinner than in urban submarkets, but residents who rent may prioritize stability and proximity over variety of amenities—favoring properties that deliver reliable operations and responsive management. Median home values in the neighborhood sit in a high-cost ownership context relative to local incomes (high national percentile for value-to-income), which typically sustains reliance on multifamily rentals and can support retention, while the neighborhood rent-to-income ratio implies manageable affordability pressures that may temper near-term pricing power.
Occupancy at the neighborhood level trails both metro and national norms, indicating leasing can be competitive and property-level execution matters. This is a neighborhood-level signal rather than a property reading; well-positioned assets that emphasize maintenance, curb appeal, and resident experience can outperform local averages.
Demographics aggregated within a 3-mile radius show a smaller population base today but a projected increase in households and a shift toward smaller average household sizes over the next five years. For multifamily investors, this points to a gradual renter pool expansion driven by household formation patterns that can support occupancy stability for value-focused product.
From a vintage standpoint, the average neighborhood construction year trends older than this property. With a 1995 build, the asset should compare favorably to older stock in the area, though investors should still budget for system updates and modernization to strengthen competitiveness and reduce future capital surprises.
Neighborhood-level crime data is not available in this dataset for Welaka. Investors should benchmark site-specific observations and management history against county and metro trends to contextualize risk, and incorporate standard diligence steps such as daytime and evening site visits and discussions with local stakeholders.
570 3rd Ave offers a 1995-vintage, 30-unit footprint in a rural submarket where renters are fewer but can be sticky when properties deliver consistent operations. Neighborhood indicators point to limited amenity density and below-average occupancy at the neighborhood level, so asset-specific execution—maintenance, responsiveness, and practical conveniences—will drive outcomes. Home values are elevated relative to incomes locally, which tends to reinforce reliance on rentals, while rent burdens remain moderate, helping lease retention even if it moderates pricing power. Based on CRE market data from WDSuite, the property’s newer-than-average vintage versus nearby stock supports competitive positioning with thoughtful capital planning.
Demographics within a 3-mile radius suggest a smaller population base today with projected household growth and smaller household sizes, which can incrementally expand the renter pool. For investors seeking stable, value-oriented tenancy in a low-density setting, this asset’s scale and relative vintage can create consistent performance if managed with disciplined leasing and resident services.
- 1995 vintage compares favorably to older neighborhood stock; plan targeted updates for durability and appeal
- Elevated ownership costs locally reinforce multifamily reliance, supporting retention
- Moderate rent burdens support lease stability even if they temper aggressive pricing
- Projected household growth (3-mile radius) points to gradual renter pool expansion
- Risk: neighborhood-level occupancy is below norms; outcomes depend on strong property-level execution