| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 53rd | Good |
| Amenities | 66th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 640 Northern Rd, South Daytona, FL, 32119, US |
| Region / Metro | South Daytona |
| Year of Construction | 1972 |
| Units | 97 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
640 Northern Rd South Daytona Multifamily Investment
Neighborhood occupancy remains solid with recent improvement, according to WDSuite’s CRE market data, supporting income stability for a well-run property in South Daytona.
Situated in a suburban pocket of the Deltona–Daytona Beach–Ormond Beach metro, the neighborhood surrounding 640 Northern Rd posts a high and rising occupancy level at the neighborhood scale, reinforcing day‑to‑day leasing durability for multifamily. Rents track in a mid-range relative to the metro, and the rent-to-income profile suggests manageable affordability that can aid retention and reduce turn volatility.
Amenity access is a local strength: grocery, pharmacy, parks, and dining options are competitive among Deltona–Daytona Beach–Ormond Beach neighborhoods (e.g., grocery and cafe density rank within the stronger segment of 159 tracked neighborhoods), helping sustain renter appeal. While childcare options are thinner locally, everyday services are convenient within short drives.
The area’s housing stock skews newer than this asset’s vintage, with the neighborhood’s average construction year more recent than 1972. For investors, that gap points to potential value‑add through exterior, systems, and interior updates to sharpen competitive positioning against newer comparables while planning for near‑term capital items typical of older assets.
Within a 3‑mile radius, demographics indicate population growth in recent years with further expansion projected, alongside a notable increase in households and gradually smaller average household sizes. This points to a larger tenant base and steady demand for professionally managed rentals. Renter-occupied share is moderate in the immediate neighborhood but deeper at the 3‑mile level, suggesting demand capture from both local and nearby households.
Safety indicators present a mixed picture. Relative to the 159 neighborhoods in the metro, the area’s crime rank sits in a lower (i.e., less favorable) tranche, signaling that reported crime levels are higher than many metro peers. Nationally, overall positioning trends closer to mid‑pack rather than outlier risk.
Recent trends are nuanced: estimated property offenses have declined year over year, which is constructive for operating stability, while estimated violent offenses show an uptick over the same period. Investors commonly address this by emphasizing on‑site management presence, lighting, and resident screening. Always evaluate block‑level patterns and recent comparables during diligence rather than relying solely on broad averages.
Regional employers within commuting reach contribute to a diversified white‑collar tenant base, supporting leasing and renewals for workforce and mid‑market units. The list below reflects nearby corporate offices relevant to the area’s renter pool.
- Symantec — cybersecurity software (34.6 miles)
Built in 1972 and totaling 97 units, this South Daytona asset offers a straightforward value‑add story in a neighborhood with solid occupancy and convenient everyday amenities. The surrounding area’s rent levels and rent‑to‑income profile point to relatively stable retention dynamics, while 3‑mile demographic trends—population and household growth with smaller household sizes—expand the prospective renter pool and support ongoing leasing. Based on commercial real estate analysis from WDSuite, neighborhood occupancy has strengthened over the last five years, indicating durable demand at the sub‑market level.
Given its older vintage versus much of the nearby stock, targeted upgrades (exteriors, interiors, building systems) can enhance competitiveness against newer comparables and help sustain pricing power. Offsetting considerations include safety variability versus metro peers and the need to plan capital for aging systems. Overall, fundamentals suggest a pragmatic hold with operational upside via disciplined renovations and resident experience improvements.
- Neighborhood occupancy is strong and improving, supporting income durability at the area level.
- 1972 vintage offers value‑add potential through unit and system upgrades versus newer nearby stock.
- Amenity access (grocery, pharmacy, parks, dining) enhances renter appeal and leasing momentum.
- 3‑mile population and household growth with smaller household sizes broadens the tenant base.
- Risks: crime levels above many metro peers and capex needs for an older asset warrant active management.