| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 26th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 727 W New York Ave, Deland, FL, 32720, US |
| Region / Metro | Deland |
| Year of Construction | 1974 |
| Units | 28 |
| Transaction Date | 2011-08-26 |
| Transaction Price | $682,400 |
| Buyer | AMPM APARTMENTS LLC |
| Seller | NEW HORIZONS PROPERTY HOLDINGS LLC |
727 W New York Ave, Deland Multifamily Investment
Investor focus centers on deep renter demand in an amenity-rich inner suburb and a 1974 vintage that can be competitively positioned with selective updates, according to WDSuite s CRE market data.
Located in Deland s inner-suburban fabric, the property sits amid dense daily-needs retail and services grocers, pharmacies, restaurants, and childcare are concentrated at levels that compare favorably both across the Deltona Daytona Beach Ormond Beach metro and nationally. This concentration supports convenience-driven living and helps sustain leasing velocity for workforce-oriented units.
Neighborhood-level housing stock trends older on average than the subject s 1974 vintage (metro-ranked against 159 neighborhoods), giving this asset relative competitive positioning versus much older buildings in the immediate area. For investors, that implies scope to differentiate through modernization while keeping capital planning focused on systems that approach mid-life.
Renter-occupied housing is a large share of neighborhood units (above most metro peers), indicating a deep tenant base for multifamily. At the same time, neighborhood occupancy has trended below the metro median in recent years, suggesting active leasing and management will be important for stabilizing performance.
Within a 3-mile radius, demographics point to a growing demand pool: population and households have expanded in recent years and are projected to continue rising through 2028, with income profiles drifting higher. This supports absorption and rent growth potential and helps mitigate retention risk as pricing adjusts. Median contract rents in the 3-mile area have been firm and are forecast to trend upward, which, paired with a moderate rent-to-income posture at the neighborhood level, suggests room for disciplined revenue management rather than aggressive pushes.
Ownership costs nearby are relatively accessible compared with many Florida metros, which can introduce some competition from entry-level for-sale options. Even so, the neighborhood s sizable renter concentration and amenity access tend to reinforce reliance on multifamily housing, supporting tenant retention and lease-up consistency.
Safety signals are mixed when viewed across geographies. Within the Deltona Daytona Beach Ormond Beach metro (159 neighborhoods), the neighborhood ranks below the metro average on crime, indicating more incidents than many local peers. Nationally, however, broader measures place the area above average compared with neighborhoods across the U.S., and recent estimates show year-over-year declines in both violent and property offenses. For investors, the takeaway is to underwrite standard security and lighting upgrades and emphasize on-site management practices, while noting the improving trend and comparatively stronger national standing.
Regional employment access includes a mix of corporate offices that help support renter demand and retention through diverse white-collar and services roles: Symantec, Waste Management, Prudential, Ryder, and Darden Restaurants.
- Symantec software & security (17.5 miles)
- Waste Management environmental services (37.6 miles)
- Prudential financial services (38.2 miles)
- Ryder logistics (39.6 miles)
- Darden Restaurants restaurant HQ & corporate (42.5 miles) HQ
This 28-unit, 1974-vintage property aligns with a renter-heavy neighborhood supported by strong amenity density. Compared with older housing nearby, the asset can compete with targeted upgrades to interiors and building systems, while daily-needs proximity bolsters leasing velocity. Neighborhood occupancy has operated below the metro median, so disciplined management and value-add positioning are central to the thesis.
Within a 3-mile radius, population and households are growing and are projected to continue increasing through 2028, pointing to a larger tenant base and supportive rent trends. Based on CRE market data from WDSuite, the area s renter pool and moderate rent-to-income posture suggest potential for steady occupancy with measured pricing power, balanced against some competition from accessible ownership options.
- Strong daily-needs retail and services concentration supports leasing and tenant retention.
- 1974 vintage offers value-add and modernization potential versus older neighborhood stock.
- Expanding 3-mile population and household counts indicate a growing renter pool and demand support.
- Balanced affordability profile supports disciplined revenue management rather than over-aggressive pushes.
- Risks: neighborhood occupancy below metro median and mixed safety signals warrant proactive leasing, security, and competitive renovations.