| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 55th | Good |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1910 S Palmetto Ave, South Daytona, FL, 32119, US |
| Region / Metro | South Daytona |
| Year of Construction | 1974 |
| Units | 44 |
| Transaction Date | 2010-05-11 |
| Transaction Price | $1,020,000 |
| Buyer | JRN PROPERTIES LLC |
| Seller | HOLLECO LLP |
1910 S Palmetto Ave South Daytona Multifamily Investment
Renter-occupied housing is concentrated in this neighborhood, supporting a deeper tenant base even as local occupancy trends run softer, according to WDSuite’s CRE market data. Strong daily-needs amenities nearby create convenience that can aid leasing and retention.
This Inner Suburb pocket of South Daytona carries an A+ neighborhood rating and is competitive among Deltona–Daytona Beach–Ormond Beach neighborhoods (ranked 6th out of 159), signaling solid location fundamentals for workforce-oriented rentals. The area’s renter-occupied share is high relative to the metro and sits in the top decile nationally, which points to a sizable renter pool and steady multifamily demand.
Daily-needs access is a clear strength. Grocery density ranks 1st among 159 metro neighborhoods and sits in the 99th percentile nationally, while restaurants and cafes are also strong (both in the 90th-plus national percentiles and competitive within the metro). Childcare access is similarly robust (high national percentile), and parks coverage trends in the top quartile nationwide, which together bolster neighborhood livability. A notable gap is pharmacies, which are limited locally; residents may rely on nearby submarkets for scripts and health items.
Construction in the surrounding housing stock averages 1986; this property was built in 1974. The older vintage suggests investors should plan for capital improvements or select renovations to enhance competitiveness versus newer nearby product, with potential value-add upside. Neighborhood-level occupancy trends run below the metro median and sit in the lower national quartiles, implying more leasing competition and the need for active management on pricing and concessions.
Demographic statistics aggregated within a 3-mile radius show population growth in recent years and an increase in households, with forecasts calling for further household expansion and smaller average household sizes over the next five years. That combination typically supports a larger tenant base and demand for smaller-format units, which can help stabilize occupancy and turnover for efficiently sized properties. Elevated home values for the area, relative to local incomes, indicate a high-cost ownership market that tends to reinforce reliance on multifamily rentals and support lease retention.
Comparable crime data for this specific neighborhood are not available in WDSuite’s current release, so investors should review city and county resources for additional context. As with any submarket assessment, consider property-level measures (access control, lighting, and visibility) and broader trends at the municipal level rather than block-by-block assumptions.
The broader employment base is diversified across regional corporate offices, supporting commuter demand that can translate into renter stability. The list below highlights a notable regional employer within driving range.
- Symantec — corporate offices (34.9 miles)
1910 S Palmetto Ave offers exposure to a renter-heavy neighborhood with exceptional daily-needs access, which can support leasing velocity and retention. While neighborhood occupancy trends are softer than the metro median, the location ranks competitively within the region and benefits from strong grocery, restaurant, and childcare availability. According to CRE market data from WDSuite, the surrounding 3-mile area shows recent population growth with a notable rise in households and a projected shift toward smaller household sizes — dynamics that generally expand the renter pool and favor efficient unit mixes.
Built in 1974, the asset is older than nearby housing stock on average, indicating potential value-add and capex opportunities to improve positioning versus newer product. Elevated ownership costs relative to local incomes further sustain rental demand, though investors should plan for active lease management given the competitive occupancy environment.
- Renter-heavy neighborhood supports a deeper tenant base and multifamily demand
- Exceptional daily-needs access (top-tier grocery, strong dining/childcare) aids retention
- 1974 vintage presents value-add and capex pathways to enhance competitiveness
- 3-mile demographics point to household growth and smaller sizes, expanding the renter pool
- Risk: softer neighborhood occupancy requires disciplined pricing, concessions, and operations