| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 30th | Poor |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4224 Portillo Rd, Spring Hill, FL, 34608, US |
| Region / Metro | Spring Hill |
| Year of Construction | 2005 |
| Units | 20 |
| Transaction Date | 2014-12-29 |
| Transaction Price | $950,000 |
| Buyer | MIA C PROPERTIES INC |
| Seller | SAND DOLLAR LAND DEVELOPMENT INC |
4224 Portillo Rd Spring Hill 20-Unit Multifamily
Neighborhood renter concentration supports a stable tenant base and occupancy sits above the metro median, according to WDSuite’s CRE market data. Directionally, this suggests steady leasing fundamentals in an inner-suburban location with balanced affordability.
Spring Hill’s inner-suburban setting offers practical livability for workforce renters. Amenities skew service-oriented rather than lifestyle-focused: grocery and restaurants track around the national middle, while parks and pharmacies rank in the upper ranges nationwide. Childcare access is a relative strength (top quartile nationally), but cafes are limited. Among Tampa–St. Petersburg–Clearwater’s 710 neighborhoods, overall amenities place competitively (rank 144 of 710, Top quartile among metro neighborhoods), signalling everyday convenience over destination retail.
For investors, neighborhood occupancy is near the national middle but above the metro median, a positive indicator for stability. Median contract rent sits around the national midpoint, and the rent-to-income ratio near 0.20 points to manageable affordability pressure that can aid retention and reduce turnover risk. These metrics are measured for the neighborhood and not the property.
Ownership costs run comparatively elevated versus local incomes (value-to-income ratio in a higher national percentile), which can sustain reliance on rental options and support pricing durability. At the same time, average school ratings are low for the neighborhood, which can modestly narrow appeal among family renters—an underwriting consideration for lease-up mix and renewal strategy.
The property’s 2005 vintage is newer than the neighborhood’s typical stock (1997). That positioning generally improves competitiveness against older assets, while prudent capital planning should still account for mid-2000s systems, common areas, and light modernization to maintain leasing velocity.
Demographic statistics aggregated within a 3-mile radius indicate population growth over the last five years with continued expansion projected, alongside a larger household base by 2028. This points to a gradually expanding renter pool and supports occupancy stability; however, projections also tilt toward stronger ownership share, which may increase competition from for-sale housing in some segments.
Comparable neighborhood-level safety data are limited in this dataset, so investors should benchmark trends against Hernando County and the Tampa–St. Petersburg–Clearwater metro as part of standard diligence. Use multi-year patterns and police-reported statistics rather than single-period snapshots to understand directional risk and mitigation needs around lighting, access control, and resident services.
Regional employment anchors within commuting range include insurance, financial services, healthcare plans, and electronics manufacturing—sectors that broaden the renter base and can support retention through commute convenience. The list below reflects notable nearby employers relevant to workforce demand.
- MetLife Insurance Company — insurance (27.2 miles)
- Raymond James — financial services (27.7 miles)
- Wellcare Health Plans — healthcare plans (31.6 miles) — HQ
- Tech Data — technology distribution (40.8 miles) — HQ
- Jabil Circuit — electronics manufacturing (43.5 miles) — HQ
4224 Portillo Rd offers a 2005-vintage, small-scale multifamily asset positioned in an inner-suburban neighborhood where occupancy trends run above the metro median and around the national middle. Neighborhood renter-occupied share is comparatively high within the metro, signaling depth in the tenant base, while median rents and a moderate rent-to-income profile support retention and operational stability. Based on commercial real estate analysis from WDSuite, nearby amenities are practical (strong parks, pharmacies, and childcare access) with balanced day-to-day convenience.
Investor considerations include value preservation via targeted modernization appropriate for a mid-2000s asset, a school-quality headwind that may temper demand from some family households, and anticipated growth in households within 3 miles that points to a larger tenant pool over the medium term. Monitoring the ownership tilt in projections will be important for pricing power and renewal strategy.
- 2005 vintage positions competitively versus older neighborhood stock, with light modernization potential
- Neighborhood occupancy above the metro median supports steady leasing and revenue stability
- Moderate rent-to-income dynamics and mid-market rents aid retention and lower turnover risk
- 3-mile population and household growth expands the tenant base and supports long-run demand
- Risks: low average school ratings and potential for stronger ownership competition in projections