| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Poor |
| Demographics | 40th | Fair |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1024 Howell Ave, Brooksville, FL, 34601, US |
| Region / Metro | Brooksville |
| Year of Construction | 1985 |
| Units | 24 |
| Transaction Date | 2000-12-31 |
| Transaction Price | $636,500 |
| Buyer | RAGLAND JERRY J |
| Seller | HOWELL OAKS INV CORP |
1024 Howell Ave Brooksville Multifamily Investment Opportunity
Renter concentration and neighborhood safety trends indicate durable leasing potential compared with many Tampa–St. Petersburg–Clearwater areas, according to WDSuite’s CRE market data.
This Brooksville location sits within a rural neighborhood of the Tampa–St. Petersburg–Clearwater metro, where renter-occupied units account for a meaningful share of housing. With a renter concentration ranked 197 out of 710 metro neighborhoods, the area is above the metro median and competitive among Tampa–St. Petersburg–Clearwater neighborhoods, signaling a solid tenant base for multifamily. Neighborhood occupancy is softer (nationally in the lower third), so leasing strategies and asset positioning remain important for stability.
Within a 3-mile radius, households have expanded faster than population, indicating smaller household sizes and a broader pool of potential renters. Households grew notably over the past five years and are projected to rise further through 2028, supporting renter pool expansion and occupancy resilience for well-managed assets. Median contract rents in the vicinity have increased over the last five years and are forecast to continue growing, while the rent-to-income profile suggests manageable affordability pressure that can support retention rather than churn.
Local amenity access is mixed: grocery and restaurants benchmark above the national midpoint, while parks and childcare score in the upper-middle range. Cafés and pharmacies are sparse, which may modestly affect lifestyle convenience. Average school ratings track below national norms, which investors should factor into resident mix expectations and marketing toward workforce and adult households.
Home values are comparatively low versus national benchmarks, creating a more accessible ownership market. For multifamily, this can introduce some competition from entry-level ownership but also supports steady renter demand at workforce price points. The neighborhood’s NOI per unit sits in the top quartile nationally, based on CRE market data from WDSuite, underscoring income durability when operations are aligned with local demand.
The property’s 1985 vintage is newer than the neighborhood’s older housing stock (average construction year skews mid-century). That positioning can offer a competitive edge versus older inventory, while still warranting planning for system upgrades or value-add renovations to meet current renter expectations.
Safety indicators compare favorably. The neighborhood ranks 7 out of 710 metro neighborhoods for overall crime, placing it among the safest in the Tampa–St. Petersburg–Clearwater region and in a high national percentile. Property-related offenses benchmark in the top tier nationally, and recent year-over-year data show a pronounced decline, according to WDSuite’s CRE market data. Violent-offense measures also sit in a strong national percentile. While conditions can vary by block and over time, the comparative trend supports tenant retention and leasing stability narratives.
Regional employers within commuting range broaden the renter base, particularly in insurance, financial services, healthcare, and environmental services. The following anchors illustrate diversified white-collar demand drivers relevant to workforce renters: MetLife Insurance Company, Raymond James, Waste Management, Wellcare, and Wellcare Health Plans.
- MetLife Insurance Company — insurance (30.2 miles)
- Raymond James — financial services (33.6 miles)
- Waste Management — environmental services (34.7 miles)
- Wellcare — managed care (38.2 miles)
- Wellcare Health Plans — managed care (38.2 miles) — HQ
1024 Howell Ave offers a 24-unit footprint in a neighborhood with an above-median renter concentration and favorable safety profile, supporting stable leasing. Within a 3-mile radius, population and households have grown and are projected to expand further, pointing to a larger tenant base. Neighborhood occupancy trends are softer than the metro median, so performance should hinge on competitive pricing and operational execution; however, rent levels and rent-to-income dynamics suggest manageable affordability pressure for sustained retention. According to CRE market data from WDSuite, the area’s NOI per unit benchmarks in the top quartile nationally, reinforcing the case for income durability when operations align with local demand.
Built in 1985, the asset is newer than much of the surrounding housing stock, which skews mid-century. That vintage can be a competitive advantage versus older inventory while still offering value-add potential through targeted interior updates and system modernization to meet today’s renter expectations.
- Above-median renter concentration in the metro supports depth of demand and leasing durability.
- Safety metrics rank among the strongest in the metro, aiding tenant retention and marketing.
- 3-mile household growth and forecast expansion indicate a larger renter pool over the next cycle.
- 1985 vintage offers relative competitiveness vs. older local stock with value-add upgrade potential.
- Risks: neighborhood occupancy is below metro median; school quality and limited café/pharmacy options may influence resident mix and retention.