| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Good |
| Demographics | 38th | Good |
| Amenities | 52nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2273 S Byron Butler Pkwy, Perry, FL, 32348, US |
| Region / Metro | Perry |
| Year of Construction | 1977 |
| Units | 40 |
| Transaction Date | 2018-08-03 |
| Transaction Price | $2,175,000 |
| Buyer | REGOCALA LP |
| Seller | PERRY APARTMENTS VILLAGE LLC |
2273 S Byron Butler Pkwy, Perry FL Multifamily Investment
Neighborhood occupancy sits at 92.2%, pointing to steady leasing fundamentals for a 40-unit asset in a small-market setting, according to WDSuite’s CRE market data. A moderate renter concentration supports demand without overreliance on transient tenants.
Perry’s A+–rated neighborhood around 2273 S Byron Butler Pkwy ranks first among 14 neighborhoods in Taylor County, signaling strong local fundamentals relative to nearby areas. Reported neighborhood occupancy of 92.2% indicates stable utilization of existing housing stock, which can support income consistency for multifamily operators.
The property’s 1977 vintage is older than the neighborhood’s average construction year (1982). For investors, that age gap typically suggests planning for selective capital improvements and value-add updates to remain competitive against slightly newer stock, while still benefiting from steady renter demand.
Everyday retail access is practical: grocery, pharmacy, cafes, and restaurants score around or above national midpoints, while park access is limited. This mix suits workforce renters seeking convenience, though limited green space is a consideration for lifestyle positioning.
Renter-occupied units account for 31.3% of neighborhood housing, indicating a defined but not saturated renter base that can help support leasing velocity and retention. Home values are comparatively accessible for owners in this market, which can introduce competition with ownership; however, measured rents and a rent-to-income ratio near 0.18 can help sustain tenant retention and pricing discipline. These dynamics align with an investor’s commercial real estate analysis of demand depth and lease stability.
Safety signals are mixed but generally favorable in a national context. Property offenses sit in a very high national safety percentile, indicating comparatively low property-crime exposure versus neighborhoods nationwide. Violent offense indicators also test in a high national percentile, suggesting relative safety compared with many U.S. neighborhoods.
Recent-year trends show improvement in property offense rates but an uptick in violent offense measures. For investors, this points to a need for standard operational diligence (lighting, access controls, resident screening) and ongoing monitoring of local trends rather than a structural red flag.
This 40-unit asset in Perry, Florida benefits from neighborhood occupancy at 92.2% and a measured renter concentration (31.3%), supporting a stable demand base. The 1977 construction year is slightly older than the neighborhood average, creating potential value-add and modernization opportunities that can help sustain competitiveness. According to CRE market data from WDSuite, the surrounding area’s everyday retail access is serviceable while parks are limited, which suggests positioning the asset toward convenience- and value-focused renters.
Ownership costs in the area are relatively accessible, which can create modest competition with buying; however, the neighborhood’s rent-to-income profile and steady occupancy support an underwriting case centered on retention and operational efficiency rather than outsized rent growth. Long-term performance will likely hinge on disciplined capital planning, continued monitoring of safety trends, and targeted unit/interior enhancements to capture demand.
- Stable neighborhood occupancy supports income consistency for multifamily operations.
- 1977 vintage provides value-add and modernization upside relative to nearby stock.
- Renter-occupied share (31.3%) indicates a defined tenant base without oversaturation.
- Everyday retail access is practical; limited park access suggests careful tenant-positioning.
- Risk: accessible ownership options and mixed safety trends require conservative leasing and capex planning.