| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Good |
| Demographics | 54th | Good |
| Amenities | 29th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1601 Woodcrest Dr, Daytona Beach, FL, 32119, US |
| Region / Metro | Daytona Beach |
| Year of Construction | 1978 |
| Units | 24 |
| Transaction Date | 1977-11-15 |
| Transaction Price | $565,000 |
| Buyer | EMBRY RIDDLE AERONAUTICAL UNIV |
| Seller | --- |
1601 Woodcrest Dr Daytona Beach Multifamily Investment
Stabilizing renter demand and an above-median neighborhood occupancy trend suggest steady leasing conditions, according to WDSuite’s CRE market data. The submarket’s renter concentration supports a consistent tenant base for a 24-unit asset.
The property sits in an Inner Suburb of Daytona Beach within the Deltona–Daytona Beach–Ormond Beach metro. Neighborhood-level occupancy is above the metro median (rank 69 out of 159), pointing to resilient leasing and fewer prolonged vacancies versus weaker submarkets. Renter-occupied housing makes up a large share locally (rank 11 of 159, top quartile among metro neighborhoods), which typically supports a deeper tenant pool for multifamily operators.
Everyday needs are convenient: grocery access ranks 29 of 159 (top quartile metro; 81st percentile nationally). Childcare density also ranks strongly (7 of 159), which can aid retention for workforce households. However, cafe, restaurant, park, and pharmacy densities are limited in the immediate neighborhood (ranks near the bottom of 159), so residents may rely on nearby corridors for those amenities.
Within a 3-mile radius, demographics show population growth over the last five years and an increase in households, with average household size trending smaller. Looking ahead to 2028, forecasts indicate additional population and household growth within this 3-mile area, expanding the renter pool and supporting occupancy stability. Median contract rents in the neighborhood sit around the metro middle while national positioning is modestly above average, suggesting room for disciplined rent management without exceeding local affordability thresholds.
Home values are moderate by national standards but value-to-income ratios trend higher than many markets, which can reinforce renter reliance on multifamily housing and aid lease retention. The neighborhood’s overall rating is B with a neighborhood rank of 73 out of 159 (above the metro median), signaling competitive livability and demand fundamentals versus many peer areas in the region, based on CRE market data from WDSuite.
Comparable neighborhood-level crime rankings are not available in WDSuite for this location. Investors typically benchmark safety trends using metro and county resources alongside property-level history to assess leasing risk and insurance considerations over time.
Prudent underwriting often incorporates exterior lighting, access control, and coordination with local authorities as standard risk management measures, evaluated against regional norms rather than block-level assumptions.
Regional employers contribute to a diversified labor pool that can support renter demand, with commuting access to larger job centers noted below.
- Symantec — software (33.1 miles)
1601 Woodcrest Dr offers exposure to a renter-heavy neighborhood where occupancy trends sit above the metro median, supporting steady cash flow management. The 1978 vintage is older than the neighborhood average (1988), presenting a clear value-add path via targeted renovations and system upgrades that can improve competitive positioning against newer stock while planning for ongoing capital needs. According to commercial real estate analysis from WDSuite, local rents track near the metro middle and rent-to-income signals indicate manageable affordability pressure, which can aid retention with disciplined lease management.
From a demand perspective, the 3-mile radius shows recent population growth and an expanding household count, with forecasts calling for further renter pool expansion through 2028 as household sizes trend smaller. Strong grocery and childcare access offsets thinner dining and park options in the immediate area, indicating solid daily convenience with some amenity gaps to underwrite.
- Above-median neighborhood occupancy and high renter concentration support stable leasing
- 1978 vintage creates value-add and capex planning opportunities versus newer competition
- 3-mile population and household growth broaden the tenant base and support demand
- Daily-needs access (groceries, childcare) balances thinner local dining/park amenities
- Risks: amenity gaps, income sensitivity, and capital scope for aging systems