| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Best |
| Demographics | 74th | Best |
| Amenities | 51st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2400 Crystal Cove Ln, Destin, FL, 32550, US |
| Region / Metro | Destin |
| Year of Construction | 1992 |
| Units | 115 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2400 Crystal Cove Ln, Destin FL Multifamily
High-income coastal neighborhood with elevated home values supports pricing power, while a smaller renter base calls for targeted leasing—according to WDSuite’s CRE market data.
Destin’s suburban setting combines daily conveniences with leisure amenities. Neighborhood amenity access is competitive among Crestview–Fort Walton Beach–Destin neighborhoods (ranked 25 out of 86), with restaurants and cafes present at levels that test well against national peers. Grocery options and parks are accessible, while childcare and pharmacies are sparser, suggesting residents rely on nearby submarkets for some services.
The area skews higher-income with elevated home values (both in the top decile nationally), which tends to support rent levels and renewal pricing discipline for multifamily operators. In this high-cost ownership market, renters often remain in professionally managed housing longer, which can aid lease retention and reduce turnover risk. Rent-to-income levels indicate manageable affordability pressure relative to many coastal markets, an operational positive for collections and renewal strategy.
Construction in the neighborhood is newer on average (2007 average vintage; rank 15 of 86, top quartile locally). With the subject property built in 1992, investors should underwrite selective modernization and systems planning to stay competitive versus the younger stock—creating potential value-add upside through unit and common-area updates tied to marketable features.
Renter-occupied housing concentration in the neighborhood is lower than the metro median, implying a thinner, but often higher-earning renter pool. Within a 3-mile radius, population and household counts have grown and are projected to continue rising over the next five years, expanding the local tenant base. This growth—paired with strong incomes—supports occupancy stability and rent performance, as evidenced by multifamily property research from WDSuite.
Safety metrics are mixed when viewed against national benchmarks. Overall crime rates sit slightly below the national median, while violent incidents align closer to national midrange. Within the Crestview–Fort Walton Beach–Destin metro, the neighborhood ranks 26 out of 86, making it competitive among local peers rather than a top outlier.
Recent trends indicate a year-over-year decrease in violent offense rates coupled with a notable uptick in property offenses. Investors should calibrate security, lighting, and access-control plans accordingly and monitor submarket trendlines as part of ongoing asset management.
The 115-unit property at 2400 Crystal Cove Ln offers exposure to a high-income Destin submarket where elevated home values and rising household counts within a 3-mile radius underpin a durable renter base. According to CRE market data from WDSuite, the neighborhood’s income profile and rent positioning support pricing power, while the smaller renter-occupied share suggests focusing on premium finishes, amenity activation, and retention-oriented operations.
Built in 1992, the asset is older than the area’s average 2007 vintage, pointing to a clear value-add path through targeted renovations and building systems planning to compete with younger stock. Investors should also account for seasonality and a lower overall occupied housing share at the neighborhood level by emphasizing leasing strategy, renewals, and marketing cadence that align with demand peaks.
- High-income, high-value ownership market reinforces multifamily pricing power and retention
- Growing 3-mile population and household counts expand the local renter pool
- 1992 vintage supports a targeted value-add strategy to compete with newer supply
- Operational focus: manage seasonality and a smaller renter-occupied share to sustain occupancy
- Monitor property offense trends and implement security measures as part of asset management