| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 47th | Fair |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3635 Caramel Ave, Port Orange, FL, 32129, US |
| Region / Metro | Port Orange |
| Year of Construction | 2000 |
| Units | 120 |
| Transaction Date | 2021-11-15 |
| Transaction Price | $21,210,000 |
| Buyer | SREIT CLUB AT SUGA MILL LLC |
| Seller | SUGAR MILL ASSOCIATES LTD |
3635 Caramel Ave, Port Orange FL Multifamily Investment
Positioned in a suburban pocket of Port Orange with steady renter demand drivers, the asset benefits from amenity access and a renter base that supports leasing durability, according to WDSuite’s CRE market data.
Neighborhood Overview
Port Orange’s A- rated neighborhood stands Competitive among Deltona-Daytona Beach-Ormond Beach neighborhoods (rank 35 of 159), indicating healthy location fundamentals for workforce-oriented multifamily. Amenity access is a relative strength, with pharmacies ranked in the top cohort locally (7 of 159) and cafes, restaurants, parks, and groceries all Competitive among metro neighborhoods. This mix can aid leasing velocity and day-to-day livability for residents.
Average construction vintage in the neighborhood skews older than the subject property (local average 1991), so a 2000 build should compete favorably against legacy stock while still warranting selective modernization to keep systems current and support retention. Median school ratings trend Above metro median (rank 16 of 159; national percentile 61), a factor that can broaden the tenant pool for larger floorplans.
Neighborhood occupancy trends are softer than the metro median (local rank 113 of 159), so underwriting should prioritize asset-specific leasing performance and management execution. Still, renter-occupied housing represents a meaningful share of neighborhood units (Competitive among metro peers by rank), signaling depth in the tenant base rather than reliance on marginal demand. In the 3-mile radius, population and households have grown and are projected to expand further, pointing to a larger tenant base and supporting occupancy stability. These dynamics align with investor takeaways often highlighted in multifamily property research.
Ownership costs locally are moderate relative to income benchmarks (value-to-income ratios near regional norms), which can create some competition from for-sale options. Even so, rent-to-income metrics indicate manageable affordability pressure, favoring lease retention where operations maintain value and service quality.
Safety Context
Comparable metro crime benchmarks are not available in WDSuite for this neighborhood. Investors should evaluate city and county trend reports and property-level incident history to triangulate risk. Where data is obtainable, place results in a comparative frame against Deltona-Daytona Beach-Ormond Beach neighborhoods (159 total) and national percentiles, focusing on directional trends rather than block-level conclusions.
Employers and Commute Access
Regional employment access includes larger corporate offices within commuting range, supporting leasing from residents whose jobs span the broader metro. The list below reflects notable proximity relevant to commuter demand.
- Symantec — software/security offices (33.4 miles)
Investment Thesis
Built in 2000, the 120-unit asset should compete well against an older neighborhood baseline while benefiting from amenity-rich surroundings that support leasing and resident satisfaction. Population and household growth within a 3-mile radius point to a larger tenant base ahead, which can bolster occupancy stability when paired with disciplined operations, based on CRE market data from WDSuite.
Neighborhood occupancy sits below the metro median, so performance will depend on property-level execution, targeted renovations, and prudent rent setting. Ownership costs are relatively accessible locally, which may introduce some competition from for-sale housing; however, rent-to-income indicators suggest manageable affordability pressure, supporting retention for well-run communities.
- 2000 vintage offers a competitive edge versus older local stock, with selective modernization to sustain appeal
- Amenity access (pharmacies, groceries, cafes, parks) supports leasing velocity and resident convenience
- 3-mile population and household growth expand the renter pool, aiding occupancy stability
- Risks: neighborhood occupancy below metro median and some competition from for-sale housing require disciplined operations