| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 70th | Best |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 550 Wilmette Ave, Ormond Beach, FL, 32174, US |
| Region / Metro | Ormond Beach |
| Year of Construction | 1997 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
550 Wilmette Ave, Ormond Beach Multifamily Investment
Stabilized renter demand and metro-leading neighborhood fundamentals support durable income potential, according to WDSuite’s CRE market data.
Situated in Ormond Beach’s inner-suburban fabric, the neighborhood is among the metro’s highest-rated areas (ranked 1 of 159) and posts occupancy measured at the neighborhood level that has trended upward over the last five years. For investors, that combination historically supports leasing stability and fewer concessions through cycles.
Livability indicators are constructive: restaurant and cafe density lands in the top quartile nationally, while groceries, parks, and pharmacies are above typical U.S. availability. These amenity dynamics, based on commercial real estate analysis from WDSuite, help widen the prospective tenant base and can aid renewal rates.
Tenure patterns show a renter-occupied share of housing units at the neighborhood level that is below a majority-renter profile, which can temper near-term leasing velocity but often correlates with steadier resident profiles. Within a 3-mile radius, households have grown and are projected to continue increasing alongside smaller average household sizes, pointing to a gradually expanding renter pool and support for occupancy at nearby multifamily assets.
Ownership costs in the area sit on the higher side relative to local incomes (nationally high value-to-income readings), which typically reinforces reliance on rental options. At the same time, neighborhood-level rent-to-income is comparatively manageable, a mix that can support retention while preserving some pricing power.
Asset vintage also matters: the property’s 1997 construction is newer than the neighborhood’s average vintage. That age profile can be competitively positioned versus older stock, while still leaving room for targeted systems updates or common-area refreshes to capture value-add upside.
Comparable crime statistics for this specific neighborhood are not available in the dataset. Investors commonly benchmark neighborhood trends against city and county patterns to gauge relative safety over time and consider on-site measures (lighting, access control) in underwriting.
Given the absence of ranked or percentile-based safety data for this neighborhood, a prudent approach is to pair local law enforcement trend reviews with property-level incident history during diligence rather than relying on block-level assumptions.
Regional employers contribute to diversified demand with commutable access that can aid leasing and retention. The list below reflects notable corporate presence within driving range.
- Symantec — cybersecurity (38.9 miles)
This 60-unit, 1997-vintage asset benefits from a high-performing Ormond Beach neighborhood that sits at the top of the Deltona–Daytona Beach–Ormond Beach metro peer set, with neighborhood-level occupancy trending higher over the past five years. The area’s elevated ownership costs relative to incomes tend to sustain rental demand, while neighborhood rent-to-income levels remain manageable—factors that support retention and steady cash flow, according to CRE market data from WDSuite.
Within a 3-mile radius, population and household growth—alongside smaller average household sizes—point to a larger tenant base over the medium term. Being newer than the local average vintage, the property can compete well against older inventory; targeted modernization and common-area updates may unlock further value-add potential without full repositioning. Key risks include a lower renter concentration at the neighborhood level and the need to monitor future rent affordability as incomes and asking rents evolve.
- Metro-leading neighborhood standing supports occupancy stability and leasing resilience
- Elevated ownership costs locally help sustain multifamily demand and pricing power
- 1997 vintage offers competitive positioning versus older stock with selective value-add upside
- 3-mile population and household growth expand the prospective renter pool over time
- Risk: modest renter-occupied share at the neighborhood level may temper lease-up pace; monitor rent-to-income trends