| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 47th | Fair |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1000 S Nova Rd, Daytona Beach, FL, 32114, US |
| Region / Metro | Daytona Beach |
| Year of Construction | 1985 |
| Units | 41 |
| Transaction Date | 2020-12-03 |
| Transaction Price | $10,000,000 |
| Buyer | NOVA GLEN GARDENS LP |
| Seller | PC NOVA GLEN LLC |
1000 S Nova Rd Daytona Beach Multifamily Investment
Neighborhood fundamentals point to steady renter demand, with occupancy measured for the neighborhood trending above the national median and a high renter-occupied share supporting depth of the tenant base, according to CRE market data from WDSuite.
Situated in Daytona Beach an Inner Suburb neighborhood with a B+ rating 1 units at 1000 S Nova Rd benefit from local demand indicators that are above the national median for occupancy at the neighborhood level. The area s renter-occupied share is high, indicating a sizable tenant pool and potential support for leasing stability.
Amenity access is competitive among Deltona-Daytona Beach-Ormond Beach neighborhoods: the neighborhood s amenity rank sits in the top quartile among 159 metro neighborhoods, with restaurants and cafes per square mile also competitive. Parks and pharmacies score above national medians, which can aid retention and day-to-day convenience for residents. Average public school ratings in the neighborhood trend below national medians, which some family renters may weigh when comparing locations.
At the property level, the 1985 vintage is slightly older than the neighborhood s average construction year. For investors, that typically points to targeted capital planning and value-add potential to modernize systems and finishes relative to newer comparables.
Within a 3-mile radius, demographics show modest population growth with households increasing and smaller average household sizes over time. This dynamic generally broadens the renter pool and can support occupancy. Median contract rents in the neighborhood are near national midpoints, while rent-to-income readings indicate relatively lower affordability pressure compared with many U.S. locales factors that can help lease retention but may temper near-term pricing power. Home values are lower than national norms in this area; that can introduce some competition from entry-level ownership, yet the high renter concentration suggests sustained reliance on multifamily housing.
Safety signals are mixed when viewed across benchmarks. The neighborhood s overall crime rank indicates it is not among the safest within the Deltona-Daytona Beach-Ormond Beach metro (ranked closer to the higher-crime end among 159 neighborhoods), yet national comparisons place the area slightly above the U.S. median. Property offenses have trended lower year over year, while violent offense indicators improved versus national peers but show recent variability. Investors should underwrite with standard security and lighting measures and review current, property-specific incident reports as part of diligence.
Regional employment is diversified, with access to corporate offices that support commuting renters; the list below reflects a notable employer within practical driving range that can contribute to demand stability.
- Symantec cybersecurity software (34.4 miles)
This 41-unit, 1985-vintage asset aligns with a neighborhood that shows above-median occupancy and a deep renter base, supporting stable cash flow potential. According to CRE market data from WDSuite, the surrounding neighborhood s renter-occupied share is high and amenity access is competitive in the metro, while national affordability indicators suggest manageable rent burdens that can aid retention, even if they moderate near-term pricing power.
The slightly older vintage relative to nearby stock creates straightforward value-add angles unit modernization, common-area refresh, and systems upgrades to enhance competitiveness against newer properties. Demographic trends within a 3-mile radius point to population growth and an expanding household count, which typically supports a larger tenant base and helps sustain occupancy through cycles.
- High neighborhood renter-occupied share supports tenant depth and leasing stability
- Above-median neighborhood occupancy with competitive amenity access in the metro
- 1985 vintage offers clear value-add and targeted CapEx pathways to lift NOI
- 3-mile radius shows population and household growth, reinforcing demand over time
- Risks: below-average school ratings, mixed safety signals within the metro, and affordability dynamics that may limit near-term pricing power