| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Poor |
| Demographics | 25th | Poor |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 119 Thomasson Ave, Daytona Beach, FL, 32117, US |
| Region / Metro | Daytona Beach |
| Year of Construction | 1984 |
| Units | 20 |
| Transaction Date | 2022-10-11 |
| Transaction Price | $2,250,000 |
| Buyer | QCI HOLDING 3 LLC |
| Seller | THOMASSON AVENUE LLC |
119 Thomasson Ave, Daytona Beach Multifamily Investment
Neighborhood renter concentration and improving occupancy suggest steady multifamily demand, according to CRE market data from WDSuite, with positioning supported by access to everyday amenities across Daytona Beach’s inner-suburban corridor.
Located in an Inner Suburb of the Deltona–Daytona Beach–Ormond Beach metro, the area offers day-to-day convenience that supports leasing. Amenity access is a relative strength, with cafes performing competitively among the metro’s neighborhoods and groceries, parks, and pharmacies also comparing favorably. These amenity concentrations can aid retention and reduce resident friction in a value-oriented asset.
Neighborhood occupancy is moderate but has trended upward over the past five years, pointing to improving stability. The share of housing units that are renter-occupied is substantial, indicating depth in the tenant base for smaller multifamily properties and potential resilience through typical turnover cycles. Median contract rents in the neighborhood sit near the metro middle, aligning with workforce demand rather than luxury positioning.
Within a 3-mile radius, recent growth in population and households, with additional increases projected through 2028, expands the local renter pool and supports occupancy durability. Household sizes are gradually shrinking, which can favor smaller floorplans and studios by broadening the match between unit mix and demand.
Ownership remains a higher-cost path relative to local incomes in this neighborhood context, which can sustain reliance on multifamily rentals and support pricing power at approachable rent levels. At the same time, a relatively high rent-to-income burden in the neighborhood warrants attentive lease management and renewal strategies to mitigate retention risk.
Comparable safety data at the neighborhood level is limited in the current dataset. Without ranked or percentile indicators, investors should rely on local due diligence—police blotters, recent trend reports, and property-level incident logs—to contextualize risk and inform security planning.
Given the absence of metro rank and national percentile readings, frame underwriting with conservative assumptions and evaluate lighting, access control, and visibility to primary corridors as part of property operations planning.
Verified major corporate employers with reliable distance data are limited in the immediate area. Leasing is more likely driven by local services, tourism-adjacent employment, and small businesses rather than a single large anchor.
This 20-unit asset, built in 1984, is newer than the neighborhood’s older housing stock, offering a relative competitive edge versus 1960s-vintage properties while still warranting attention to aging systems and targeted modernization. Smaller average unit sizes can align with price-sensitive demand, particularly as the local renter pool expands within a 3-mile radius. According to CRE market data from WDSuite, neighborhood occupancy has improved over five years, while a meaningful share of units are renter-occupied—factors that can underpin leasing stability for a well-managed, value-oriented property.
Amenity access (cafes, groceries, parks, pharmacies) supports resident convenience and retention, and elevated ownership costs relative to incomes can reinforce reliance on rentals at attainable price points. Counterbalancing these strengths, the neighborhood’s rent-to-income burden suggests disciplined renewal strategies and expense controls are important to sustain performance through cycles.
- 1984 vintage offers competitive positioning versus older area stock, with selective capex for systems and updates
- Smaller floorplans align with shrinking household sizes and a growing renter pool within 3 miles
- Uptrending neighborhood occupancy and meaningful renter-occupied share support demand stability
- Amenity-rich surroundings aid retention and everyday livability at workforce price points
- Risk: higher rent-to-income burden elevates renewal and collections sensitivity—prioritize prudent lease management