| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 54th | Good |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1321 Herbert St, Port Orange, FL, 32129, US |
| Region / Metro | Port Orange |
| Year of Construction | 2000 |
| Units | 43 |
| Transaction Date | 2015-04-22 |
| Transaction Price | $7,240,000 |
| Buyer | NIC Acquistions, LLC |
| Seller | Mainstay Pinpoint Port |
1321 Herbert St Port Orange Multifamily Investment
Suburban amenities and steady renter demand in Port Orange support durable leasing fundamentals, according to WDSuite’s CRE market data. Neighborhood occupancy trends trail some metro peers, but stable household growth suggests a consistent tenant base.
The property sits in a suburban neighborhood that ranks above the metro median for overall livability (Rank 15 of 159, A rating), reflecting a balanced mix of daily needs and access. Grocery and park access are strong relative to both the metro and nation, which helps underpin renter convenience and retention. Cafes and restaurants are present at competitive levels among Deltona–Daytona Beach–Ormond Beach neighborhoods, adding to local lifestyle appeal for tenants.
Neighborhood-level rents and incomes indicate manageable affordability pressure for renters. Median contract rent sits above the metro median but remains coupled with incomes such that the rent-to-income ratio is below national midpoints, which can support lease stability. Home values are elevated for the area but not extreme in a national context, a backdrop that tends to reinforce reliance on rental housing without overly constraining mobility.
Renter-occupied housing comprises roughly a quarter to a third of units locally (neighborhood renter concentration measures 26.3%, and the broader 3-mile area is near 31%). For investors, that points to a meaningful tenant pool while still operating within a predominantly owner-occupied environment—often supportive of demand for well-managed multifamily product.
Within a 3-mile radius, demographics show modest population growth alongside a larger increase in households and families, signaling shrinking household size and a gradual renter pool expansion. Forward-looking projections call for additional household gains over the next five years, which should support occupancy stability and leasing velocity for professionally operated assets.
School ratings in the neighborhood trend below national medians, which may be a consideration for family-oriented leasing strategies. Amenity access, however, lands in the top quartile nationally for several daily-needs categories (notably grocery and parks), a combination that can still attract renters prioritizing convenience and commute times.
Comparable neighborhood crime metrics are not available in WDSuite’s current dataset for this location. Investors typically benchmark safety by comparing neighborhood trends with city and metro averages, reviewing multi-year patterns rather than short-term fluctuations, and aligning onsite measures (lighting, access control, and visibility) with resident expectations.
Regional employment access is diversified at the metro scale; nearby corporate presence is limited immediately around the asset. The following employer reflects broader commuting options that can still contribute to renter demand.
- Symantec — technology offices (32.0 miles)
This 43-unit, 2000-vintage asset benefits from suburban convenience, a renter base supported by household growth within 3 miles, and neighborhood amenities that rank competitively within the Deltona–Daytona Beach–Ormond Beach metro. According to CRE market data from WDSuite, neighborhood occupancy trends are softer than some metro peers, but manageable rent-to-income dynamics and growing households point to steady absorption potential for well-positioned units.
The 2000 construction offers a contemporary baseline relative to older stock nearby, with potential to drive returns through targeted value-add—kitchens, baths, energy systems, and curb appeal—rather than full-system replacement. Below-median school ratings and limited nearby corporate anchors warrant conservative underwriting on family-heavy unit mixes and commute-driven leasing, but the combination of daily-needs access and an expanding household count should support ongoing demand and retention.
- Suburban location with top-quartile daily-needs access that supports renter retention
- 3-mile household growth and smaller household sizes expand the tenant base
- 2000 vintage enables focused value-add rather than full repositioning
- Rent-to-income dynamics suggest balanced affordability, aiding lease stability
- Risks: neighborhood occupancy below metro median and school ratings below national midpoints