| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Fair |
| Demographics | 49th | Fair |
| Amenities | 85th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 121 W Marion Ave, Edgewater, FL, 32132, US |
| Region / Metro | Edgewater |
| Year of Construction | 1985 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
121 W Marion Ave, Edgewater FL Multifamily Investment
Neighborhood fundamentals point to steady renter demand and manageable affordability, according to WDSuite’s CRE market data, with local occupancy conditions measured at the neighborhood level rather than the property.
The property sits in a suburban pocket of Edgewater that ranks 14 out of 159 metro neighborhoods, making it competitive among Deltona–Daytona Beach–Ormond Beach neighborhoods based on overall neighborhood rating. Amenity access is a relative strength: neighborhood amenities test in the top quartile nationally, with parks and everyday retail (grocery, pharmacies, cafes) well represented. Average school ratings trend modestly above national midline, which can support family-oriented renter demand.
Neighborhood occupancy is reported at 89.5%, indicating broadly stable unit absorption at the neighborhood level rather than the property. Median contract rents in the neighborhood are around the mid-market range, and the neighborhood rent-to-income ratio near 0.16 suggests room for disciplined pricing without outsized retention risk. Median home values in the area are comparatively moderate for Florida, which can introduce some competition from ownership alternatives; investors should manage renewal strategies accordingly.
Within a 3-mile radius, household counts increased over the last five years and are projected to expand further even as population growth trends remain subdued. Forecasts point to additional household gains alongside smaller average household sizes, which typically enlarges the tenant base and supports occupancy stability for well-positioned multifamily. Income measures in the 3-mile area have trended higher, which can underpin rent collections and selective rent growth where unit quality and location warrant it.
The neighborhood’s housing stock skews older on average, and a 1985 asset can compete effectively against 1970s-vintage properties while still benefiting from targeted modernization of building systems and finishes. Renter-occupied share in the neighborhood is lower than many urban submarkets, implying a more selective but durable renter pool; properties that deliver convenience and value relative to ownership typically capture steady demand.
Neighborhood-level safety data was not available in WDSuite for this specific area, so investors should benchmark conditions against city and metro averages and rely on property-level diligence. When comparable neighborhoods within the metro skew toward mid-range safety profiles, lease-up and retention generally hinge more on product quality, management, and visibility than on crime variability at the block level.
Regional employment access is supported by a diversified Central Florida base; the nearest identified corporate presence listed here offers white-collar demand within commuting range that can aid leasing stability.
- Symantec — cybersecurity software offices (30.9 miles)
121 W Marion Ave is a 28-unit, 1985-vintage multifamily with average unit sizes around 714 sq. ft., positioned in a neighborhood that ranks competitively within the Deltona–Daytona Beach–Ormond Beach metro. Neighborhood occupancy reads as stable and local rent-to-income levels indicate balanced affordability, supporting retention and measured pricing power where upgrades justify it. Based on CRE market data from WDSuite, the location benefits from strong everyday amenities and steady household formation in the surrounding 3-mile radius, a combination that tends to support consistent renter demand.
Relative to older nearby stock, a mid-1980s asset offers competitive positioning with potential to unlock value through focused capital plans on systems, interiors, and curb appeal. While ownership costs in the area are comparatively accessible—which can create some competition for renters—household growth and amenity access provide offsetting demand drivers for well-managed properties.
- Competitive neighborhood standing within the metro supports durable demand
- Mid-1980s vintage offers value-add pathway versus older 1970s stock
- Balanced affordability and stable neighborhood occupancy favor retention
- 3-mile household growth and amenity access underpin leasing fundamentals
- Risk: comparatively accessible ownership options can compete with rentals; focus on unit quality and management to maintain pricing power