| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 36th | Poor |
| Demographics | 32nd | Poor |
| Amenities | 65th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 770 S Main St, Brooksville, FL, 34601, US |
| Region / Metro | Brooksville |
| Year of Construction | 1984 |
| Units | 37 |
| Transaction Date | 2025-07-18 |
| Transaction Price | $8,400,000 |
| Buyer | DH BROOKSVILLE LLC |
| Seller | MAINBROOK APARTMENTS OF HERNANDO LLC |
770 S Main St Brooksville Multifamily Investment
Neighborhood renter demand is supported by high renter concentration and expanding households within a 3-mile radius, according to WDSuite’s CRE market data. Positioning centers on stable workforce housing rather than premium rent growth.
The property sits in Brooksville’s inner-suburb context of the Tampa–St. Petersburg–Clearwater metro, where day-to-day convenience is reasonable: grocery and dining densities rank in the top quartile nationally, while cafes are also comparatively plentiful. Park access is limited, and average school ratings trend below national norms, which may temper appeal for some family renters but does not preclude workforce-oriented leasing.
For investors, the neighborhood’s renter-occupied share is 48.7% of housing units, indicating a deep tenant base and consistent leasing velocity. By contrast, neighborhood occupancy is below national levels, so underwriting should assume more competitive concessions and active management to sustain occupancy; these are neighborhood metrics, not property performance.
Housing costs remain relatively accessible versus many Florida metros. Median home values and a low value-to-income ratio suggest ownership is attainable locally, which can introduce competition with multifamily; on the flip side, rent-to-income sits near manageable levels, supporting retention when rents are positioned appropriately. Median asking rents in the neighborhood have risen meaningfully over the past five years, reflecting firm underlying demand even as affordability remains a consideration.
Construction in the immediate area skews older than this asset. Built in 1984, the property is newer than the neighborhood average vintage (1970), providing a competitive edge versus older stock; however, systems and interiors may still benefit from targeted modernization to support rent positioning and reduce near-term capex surprises.
Within a 3-mile radius, population has grown and households have increased notably, with forecasts pointing to additional gains by 2028. This broadens the local renter pool and supports occupancy stability for well-managed assets aligned to workforce price points.
Based on WDSuite’s neighborhood benchmarks, overall crime indicators are above the national median for safety, placing the area comparatively better than many neighborhoods nationwide. Property offenses show a strong recent improvement trend year over year, while violent-offense momentum has moved unfavorably in the latest period. Conditions can vary within short distances, so investors typically evaluate recent, property-level incident trends alongside neighborhood context when sizing risk.
Regional employment anchors within commuting reach support workforce housing demand, notably in insurance, financial services, environmental services, and healthcare plans. The following nearby employers help underpin tenant retention through diverse job bases:
- MetLife Insurance Company — insurance (28.8 miles)
- Raymond James — financial services (32.2 miles)
- Waste Management — waste & environmental services (35.8 miles)
- Wellcare — healthcare plans (36.8 miles)
- Wellcare Health Plans — healthcare plans (36.8 miles) — HQ
770 S Main St is a 37-unit 1984 multifamily asset positioned for workforce demand in Brooksville. The property’s vintage is newer than the neighborhood average, offering relative competitiveness versus older local stock; selective updates to building systems and interiors can enhance durability and rent positioning. Neighborhood metrics point to a deep renter base and improving household growth within a 3-mile radius, while occupancy at the neighborhood level trends soft, suggesting the need for hands-on leasing and concessions management. According to CRE market data from WDSuite, ownership remains comparatively accessible locally, which can create competition with rentals; aligning pricing to value and leveraging smaller-format units can help sustain absorption and retention.
Forward-looking demographics show continued population and household growth in the trade area by 2028, expanding the tenant pool. Amenity coverage is adequate for daily needs, with strong grocery and dining densities, though park access and school quality lag. Taken together, the thesis centers on durable workforce demand, operational execution to manage occupancy, and targeted value-add to sharpen competitive standing.
- Workforce renter base: high neighborhood renter-occupied share supports leasing depth.
- Value-add potential: 1984 vintage offers modernization upside versus older local stock.
- Demand drivers: 3-mile population and household growth expand the tenant pool through 2028.
- Operational focus: neighborhood occupancy is below national levels, requiring active leasing and concession strategy.
- Competitive landscape risk: relatively accessible homeownership can compete with rentals; pricing and finishes should emphasize value.