| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 42nd | Poor |
| Demographics | 38th | Poor |
| Amenities | 43rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1751 S Clyde Morris Blvd, Daytona Beach, FL, 32119, US |
| Region / Metro | Daytona Beach |
| Year of Construction | 1986 |
| Units | 96 |
| Transaction Date | 2019-02-28 |
| Transaction Price | $10,000,000 |
| Buyer | Sun Pointe Lake Apartments owner LLC |
| Seller | --- |
1751 S Clyde Morris Blvd Daytona Beach 96-Unit Multifamily
Service-oriented amenities nearby support workforce renter demand while neighborhood occupancy trends run softer than metro norms; steady 3-mile growth underpins leasing durability, according to WDSuite’s CRE market data.
The property sits in an inner-suburban pocket of Daytona Beach with practical access to daily needs. Cafe density ranks 3 out of 159 metro neighborhoods—competitive among Deltona-Daytona Beach-Ormond Beach neighborhoods—and is top quartile nationally, with grocery options similarly strong. By contrast, formal parks and pharmacies are limited within the immediate neighborhood, which may shift resident activity toward private and community amenities.
Neighborhood-level occupancy is measured at the neighborhood scale rather than the property and currently tracks below most metro peers (ranked 136 of 159; lower end nationally), suggesting leasing may require active management. Renter-occupied share is moderate for the area (around the metro middle), indicating a workable but not deep renter concentration; investors should size marketing to the workforce segment that values convenience to services.
Within a 3-mile radius, population and household counts have been growing, with forecasts pointing to further renter pool expansion and smaller average household sizes. This combination typically supports demand for 1–2 bedroom product and can aid occupancy stability, particularly for units positioned to capture move-ins tied to regional service and medical employment. Median contract rents in the neighborhood are mid-range locally, and income growth in the 3-mile area has been outpacing earlier periods—factors that support rent collections while still requiring careful affordability monitoring.
Home values in the neighborhood sit near regional midpoints, and value-to-income metrics are comparatively accessible versus many coastal Florida submarkets. That dynamic can introduce some competition from entry-level ownership, but it also supports retention when well-managed rental pricing, unit finishes, and convenience differentiate the offering—an insight reinforced by multifamily property research from WDSuite.
Comparable safety data at the neighborhood level is limited in the current release, so investors typically benchmark against city and metro trends and review recent local reporting for context. When underwriting, emphasize on-site lighting, access controls, and resident engagement measures that are standard for inner-suburban Florida assets.
Regional corporate offices provide commuter-oriented employment that can support leasing depth for workforce housing. The list below highlights nearby employer presence relevant to renter demand.
- Symantec — cybersecurity software (33.0 miles)
This 96-unit asset with typical 1–2 bedroom layouts (average unit size around 850 sq. ft.) aligns with workforce renter demand supported by strong daily-needs amenities. Neighborhood occupancy trends are softer than the metro’s, but 3-mile population and household growth point to a larger tenant base ahead, helping stabilize leasing for well-managed product. According to commercial real estate analysis from WDSuite, nearby cafe and grocery density compares favorably in the metro and ranks high nationally, supporting resident convenience and retention.
Investors should underwrite to moderate pricing power: neighborhood median rents are mid-range and rent-to-income metrics indicate pockets of affordability pressure. Ownership costs are comparatively accessible locally, introducing potential competition from entry-level buyers, but thoughtful unit upgrades and service-forward operations can differentiate rentals and support occupancy stability.
- Strong daily-needs coverage (cafes/groceries) supports retention and leasing velocity.
- 3-mile population and household growth expand the renter pool over the forecast period.
- Mid-range neighborhood rents suggest balanced positioning for workforce demand.
- Risk: neighborhood occupancy lags metro levels—requires active leasing and renewal management.
- Risk: comparatively accessible ownership options may compete with entry-level renters; emphasize convenience and finishes.