| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 60th | Good |
| Amenities | 71st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 140 Lincoln Ave, Ormond Beach, FL, 32174, US |
| Region / Metro | Ormond Beach |
| Year of Construction | 1981 |
| Units | 30 |
| Transaction Date | 2001-04-17 |
| Transaction Price | $201,000 |
| Buyer | ORMOND SHORES PRESERVATION OWNER LIMITED PART |
| Seller | ORMOND SHORES APARTMENTS LLC |
140 Lincoln Ave Ormond Beach Multifamily Investment
Positioned in an ownership-leaning inner suburb with steady renter demand, this 30‑unit asset benefits from strong local amenities and school fundamentals, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of Ormond Beach that ranks 13th among 159 metro neighborhoods (A rating), placing it in the top quartile metro-wide. Neighborhood statistics reflect the area, not this property’s operations: amenity access is a relative strength with parks in the 96th percentile nationally and dining/cafes around the 90th percentile, supporting resident livability and leasing appeal.
School quality is a standout, with the neighborhood’s average school rating ranked 1st of 159 in the metro and in the top percentile nationally. For family renters, this can aid retention and stability, while also broadening the tenant profile beyond purely transient demand.
Ownership costs are elevated for the area relative to incomes (value-to-income is in the 96th percentile nationally), which tends to sustain reliance on multifamily rentals and support pricing power where product and management are competitive. At the same time, neighborhood rent-to-income is in a low national percentile, signaling affordability pressure that merits careful lease management and renewal strategies.
Renter concentration at the neighborhood level is below half of units, indicating an ownership-leaning area; however, within a 3‑mile radius, population and household counts have grown and are projected to continue rising through 2028, supporting a larger tenant base and occupancy stability for well-positioned assets. Neighborhood occupancy has trended upward over the past five years, though mid‑80s levels suggest room to tighten through targeted operations.
One practical consideration: pharmacy access ranks low within the metro, which may modestly affect convenience perceptions for some residents. Overall, the combination of high amenity access, top-tier schools, and expanding 3‑mile household counts underpins the location’s multifamily appeal.
Neighborhood-level crime metrics are not available in this dataset. For investors, the practical approach is to benchmark against broader Deltona–Daytona Beach–Ormond Beach trends where reported, assess property‑level security features, and underwrite to market‑appropriate insurance and operating allowances. Surrounding amenity activation and school strength can support neighborhood stability, but site‑specific diligence remains essential.
Built in 1981, the asset is newer than the area’s older housing stock, which can enhance competitive positioning versus vintage properties while still leaving room for modernization of systems and finishes. The average unit size of roughly 356 square feet suggests an efficiency‑oriented mix that can align with value‑seeking renters and help manage price points. Based on commercial real estate analysis from WDSuite, the neighborhood shows strong livability signals (amenities and top‑ranked schools) alongside an ownership‑leaning tenure profile that supports steady—if measured—multifamily demand.
Within a 3‑mile radius, population and households have increased and are projected to continue rising through 2028, reinforcing the tenant base and aiding occupancy stability for well‑managed properties. Elevated ownership costs relative to incomes favor rental housing, though rent‑to‑income readings indicate affordability pressure, making expense control, targeted upgrades, and disciplined renewals important to sustain retention and cash flow.
- Newer 1981 vintage versus area norms, with value‑add potential through selective modernization
- Efficiency‑oriented unit sizes can broaden the renter pool and support competitive pricing
- Amenities and top‑tier school ratings bolster leasing appeal and retention
- 3‑mile population and household growth supports a larger tenant base and occupancy stability
- Risk: affordability pressure requires careful rent setting and renewal strategies to manage retention