| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 30th | Poor |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10490 Chalmer St, Spring Hill, FL, 34608, US |
| Region / Metro | Spring Hill |
| Year of Construction | 1996 |
| Units | 20 |
| Transaction Date | 2023-03-31 |
| Transaction Price | $3,000,000 |
| Buyer | FULIV PALM COURT LLC |
| Seller | BAMBAUER LISA |
10490 Chalmer St Spring Hill Multifamily Investment
Neighborhood renter demand is supported by above-median occupancy and a sizable renter-occupied housing base, according to WDSuite’s CRE market data, pointing to stable leasing fundamentals for smaller units.
Spring Hill’s Inner Suburb setting delivers balanced livability for workforce renters. Amenities score in the top quartile among 710 Tampa–St. Petersburg–Clearwater metro neighborhoods, with groceries and daily needs performing above national midrange and parks and pharmacies trending around the upper-third nationally. Childcare availability also ranks strong, supporting family-oriented tenancy even as cafe density is limited.
Occupancy at the neighborhood level is above the metro median, and renter-occupied housing accounts for a meaningful share of units, which together signal depth in the tenant base and support for lease retention. Median asking rents track near the national midpoint, while a rent-to-income profile around the lower national third suggests manageable affordability pressure—favorable for renewal strategies and measured rent growth.
Within a 3-mile radius, recent population and household growth have expanded the local renter pool, and forward-looking projections indicate additional household increases by 2028. For investors, this points to gradual demand expansion that can underpin occupancy stability and absorption of renovated units over time, based on commercial real estate analysis from WDSuite.
Ownership costs in the neighborhood sit comparatively high versus local incomes (value-to-income measures ranking in the upper national quartile), which tends to reinforce reliance on rental options and can support pricing power. One counterbalance: average school ratings are on the low end, which may temper demand from households prioritizing school quality and should be factored into positioning and marketing.
Comparable neighborhood crime metrics are not reported in WDSuite for this area, so investors should evaluate safety through multiple sources and trend views (municipal reporting, insurer data, and property-level history). Frame conclusions in a metro context rather than block-level assumptions, and underwrite with appropriate reserves and security measures where prudent.
Regional employment anchors within commuting range help diversify demand, with insurance, financial services, managed care, IT distribution, and electronics manufacturing represented—supporting retention for workforce housing tied to Tampa Bay’s corporate corridor.
- MetLife Insurance Company — insurance (26.6 miles)
- Raymond James — financial services (27.2 miles)
- Wellcare Health Plans — managed care (31.2 miles) — HQ
- Tech Data — IT distribution (40.4 miles) — HQ
- Jabil Circuit — electronics manufacturing (43.1 miles) — HQ
This 20-unit, small-format asset in Spring Hill benefits from a renter base supported by above-median neighborhood occupancy and a meaningful share of renter-occupied housing. Rents are near the national midpoint while rent-to-income sits in the lower national third, creating room for disciplined rent optimization without overextending affordability—conditions that, according to CRE market data from WDSuite, are consistent with stable retention in similar Inner Suburb locations.
Within a 3-mile radius, population and household growth—coupled with projections for further household expansion—point to a larger tenant base over the medium term. Elevated ownership costs relative to income at the neighborhood level further sustain multifamily demand; however, lower average school ratings and modest amenity depth in dining/cafes suggest positioning toward workforce and value-oriented renters. Capital plans focused on light interior upgrades and operational execution can translate into steady cash flow with measured upside.
- Above-median neighborhood occupancy supports leasing stability and renewal potential.
- Rent levels near national midrange with lower-third rent-to-income enhance pricing flexibility.
- Household and population growth within 3 miles expand the tenant pipeline over time.
- Ownership costs vs. income skew sustain reliance on rental housing, aiding demand depth.
- Risks: below-average school ratings and limited cafe density may narrow certain renter segments.