| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 34th | Poor |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 901 W 19th St, Panama City, FL, 32405, US |
| Region / Metro | Panama City |
| Year of Construction | 2003 |
| Units | 42 |
| Transaction Date | 2002-12-11 |
| Transaction Price | $233,400 |
| Buyer | PACIFICA SIENA GARDENS LLC |
| Seller | SIENA GARDENS LIMITED PARTNERSHIP |
901 W 19th St Panama City Multifamily Investment
Newer 2003-vintage asset in an inner-suburb location where renter-occupied housing is prevalent, supporting a durable tenant base according to WDSuite’s CRE market data.
Positioned in Panama City’s inner suburb, the property benefits from everyday conveniences and steady renter demand. Neighborhood venues skew toward food and beverage, with restaurants and cafes ranking in the top quartile nationally, while grocery access is moderate. Green space and pharmacies are limited within the neighborhood, a livability consideration that can be offset by nearby retail corridors.
The surrounding housing stock skews older (average vintage 1963), giving a 2003 construction year relative advantages in curb appeal and systems versus much of the competitive set. For investors, this points to fewer near-term capital surprises compared with older assets, though mid-life updates and selective modernization may still be prudent.
Renter-occupied housing represents roughly two-thirds of neighborhood units, indicating a deep tenant pool and a leasing environment oriented toward rentals. Neighborhood occupancy has eased over five years and sits below many metro peers, so thoughtful leasing strategy and competitive finishes may be important to sustain absorption and retention.
Within a 3-mile radius, demographics show smaller household sizes and a shift toward more households even as population edges down, which can expand the renter pool and support occupancy stability. Forecasts indicate higher median incomes and rising asking rents over the next five years, reinforcing pricing power for well-positioned properties; based on commercial real estate analysis from WDSuite, investors should weigh this against local affordability pressure when setting renewal strategies.
Home values are lower than many U.S. neighborhoods, yet ownership remains relatively expensive versus local incomes. This high-cost ownership context tends to sustain reliance on rental housing, supporting lease retention for competitively priced units, while also requiring careful rent-to-income management to limit turnover.
Safety indicators are mixed in this neighborhood. Compared with nationwide patterns, overall crime sits below average on safety percentiles, while property crime trends appear more favorable than violent crime. At the metro level, the neighborhood ranks in the back half among 54 metro neighborhoods (lower rank values indicate higher crime), suggesting conditions that are not among the metro’s strongest but competitive with several peers.
Recent year-over-year data show volatility, with a notable uptick in reported violent incidents. Investors should underwrite with conservative assumptions, monitor trendlines over multiple years, and prioritize standard security and lighting enhancements typical for inner-suburban assets.
This 42-unit, 2003-built property stands newer than much of the surrounding housing stock, offering relative competitiveness in an inner-suburban neighborhood where renter-occupied housing is prevalent. According to CRE market data from WDSuite, neighborhood occupancy trends have softened versus several metro peers, but a large renter base and projected household growth within 3 miles point to durable demand for well-managed units.
Forward-looking income gains and rising rents in the 3-mile catchment support a value proposition for targeted upgrades and active lease management. Ownership remains comparatively costly relative to local incomes, which reinforces renter reliance on multifamily housing and can aid retention, though affordability pressure warrants measured rent setting and amenity-driven renewal strategies.
- 2003 vintage offers competitive positioning versus older neighborhood stock, with manageable mid-life capex planning.
- Deep renter base in the neighborhood supports leasing velocity and occupancy stability.
- 3-mile area shows rising incomes and rents, enabling targeted value-add and renewal strategies.
- High-cost ownership context sustains rental demand but requires careful rent-to-income management.
- Risks: below-median neighborhood occupancy, recent safety volatility, and limited nearby parks/pharmacies call for conservative underwriting and amenity focus.