| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Good |
| Demographics | 70th | Best |
| Amenities | 57th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 775 Huey St, Wildwood, FL, 34785, US |
| Region / Metro | Wildwood |
| Year of Construction | 2004 |
| Units | 72 |
| Transaction Date | 2021-09-14 |
| Transaction Price | $7,700,000 |
| Buyer | THE VILLAGES OWNER LLC |
| Seller | URBAN CORE MULTI HOUSING LLC |
775 Huey St, Wildwood FL Multifamily Investment
Positioned in a high-cost ownership pocket of The Villages metro, this 2004-vintage, mid-size asset benefits from steady renter demand and competitive neighborhood occupancy, according to WDSuite’s CRE market data.
Located in the The Villages, FL metro, the neighborhood rates A+ and is competitive among 33 metro neighborhoods (ranked 2 of 33). Amenity access is a local strength: grocery, restaurants, parks, and pharmacies are available at levels that compare favorably within the metro, with parks and pharmacies near the top of peers. These qualities support convenience-driven retention for residents.
The average construction year in the neighborhood is 1981, while this property was built in 2004. Newer-than-neighborhood vintage can help the asset compete against older stock, though investors should still plan for mid-life system updates and selective modernization to sustain leasing velocity.
Within a 3-mile radius, demographic data shows a large retiree presence and smaller household sizes, with households and population trending upward and household incomes rising. Projections through 2028 indicate further population growth and an increase in total households, expanding the local renter pool and supporting occupancy stability.
Tenure patterns point to an owner-leaning area at the neighborhood level, but the 3-mile radius shows a renter-occupied share that is expected to increase meaningfully by 2028. For multifamily investors, a growing renter base combined with a high-cost ownership market and moderate neighborhood rents suggests depth for well-positioned product and supports pricing discipline without overreaching on concessions.
Neighborhood schools are lower-rated on average, which is typical of retiree-oriented markets and may have limited impact on senior-oriented demand but could be a consideration for family-targeted unit mixes. Median contract rents in the area are moderate and, per WDSuite’s commercial real estate analysis, are projected to rise alongside income gains, reinforcing long-term rent growth potential.
Crime indicators compare favorably in a national context: the neighborhood sits in a higher (safer) national percentile for both property and violent offenses, placing it in the top quartile nationally. Within the The Villages metro, safety levels are above average, which can aid resident retention and leasing.
Recent trends are mixed. Property offenses have improved year over year, while violent offenses show a recent uptick. Investors should underwrite with standard precautions (lighting, access control, engagement with local law enforcement) but can reasonably view the broader trend as comparatively strong versus many U.S. neighborhoods.
The area draws from a diversified employment base accessible by regional roadways, supporting workforce housing demand and commute convenience for residents. Notable nearby employers include Waste Management, Symantec, and Prudential.
- Waste Management — environmental services (8.3 miles)
- Symantec — software & cybersecurity (41.3 miles)
- Prudential — financial services (44.3 miles)
Built in 2004 with 72 units, the property offers a relatively newer profile versus the neighborhood’s older housing stock, supporting competitive positioning and reduced near-term functional obsolescence risk. The surrounding area combines high home values with moderate rents, reinforcing renter reliance on multifamily housing and aiding lease retention. According to CRE market data from WDSuite, the neighborhood’s occupancy is competitive among metro peers, and 3-mile demographics point to population growth, rising incomes, and an expanding renter pool through 2028 — all supportive of long-run cash flow durability.
Key considerations include an owner-tilted tenure pattern at the immediate neighborhood scale and lower-rated schools, which may influence unit mix strategy. Even so, amenity access, comparative safety, and household growth provide constructive fundamentals for a well-managed, value-preserving hold with targeted modernization as systems age.
- 2004 vintage competes well versus older neighborhood stock; plan for mid-life systems and selective upgrades
- High-cost ownership market and moderate rents support renter demand and pricing discipline
- Competitive neighborhood occupancy and growing 3-mile renter pool bolster leasing stability
- Amenity access and comparative safety enhance retention potential
- Risks: owner-leaning tenure nearby and lower-rated schools may narrow family-oriented demand