| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 44th | Fair |
| Amenities | 78th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7334 Canterbury St, Spring Hill, FL, 34606, US |
| Region / Metro | Spring Hill |
| Year of Construction | 2004 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7334 Canterbury St, Spring Hill Multifamily Investment
Built in 2004, this 24-unit asset benefits from a suburban setting where household growth and a modest rent-to-income profile support renter demand, according to WDSuite’s CRE market data. The property’s newer vintage versus nearby stock positions it competitively for leasing and light value-add.
The property sits in a suburban neighborhood in Spring Hill that WDSuite rates A-. At rank 167 out of 710 metro neighborhoods, the area is top quartile among Tampa–St. Petersburg–Clearwater submarkets, indicating solid livability and demand fundamentals for workforce-oriented multifamily.
Amenities are a relative strength: neighborhood access to restaurants and cafes trends in the top quartile nationally, with groceries and pharmacies also above typical U.S. availability. This breadth of daily needs supports resident convenience and can aid leasing retention without requiring urban-core pricing.
Construction in the surrounding neighborhood skews older than the subject’s 2004 vintage (average year 1989). The newer profile can help the asset compete against legacy properties while investors may still plan for mid-life system updates and targeted renovations to maintain positioning.
Neighborhood occupancy is below national averages, suggesting some leasing competition. However, within a 3-mile radius, population and households have been expanding and are projected to continue growing, pointing to a larger tenant base over time. Renter-occupied share is modest, which implies a thinner but stable renter pool; lease-up strategy may need to emphasize value and convenience rather than concessions.
Home values trend elevated relative to local incomes (higher national percentile for value-to-income), which can reinforce reliance on multifamily rentals and support pricing power when managed alongside affordability. Current rent levels relative to income indicate manageable affordability pressure, which supports retention when paired with measured renewal increases.
Neighborhood-level crime metrics for this specific area are not available in WDSuite for the current period. Investors typically benchmark Spring Hill and Hernando County trends alongside property operations (lighting, access control, and resident screening) to contextualize risk. Consider comparing this location’s performance with nearby suburban peers rather than block-level assumptions.
Commuter access to major employers across the Tampa Bay region supports workforce housing demand and lease stability, particularly in finance, insurance, healthcare, and technology distribution roles.
- Raymond James — finance (25.6 miles)
- MetLife Insurance Company — insurance (26.2 miles)
- Wellcare Health Plans — managed care (29.2 miles) — HQ
- Tech Data — IT distribution (37.6 miles) — HQ
- Raymond James Financial — financial services (39.4 miles) — HQ
This 24-unit, 2004-vintage multifamily asset offers competitive positioning against older neighborhood stock and benefits from a suburban location that ranks in the top quartile among 710 Tampa Bay metro neighborhoods. Within a 3-mile radius, population and household growth indicate a larger renter pool ahead, which can support occupancy stability and steady renewal performance. Elevated ownership costs relative to incomes in the area further sustain rental demand, while current rent-to-income levels suggest room for disciplined revenue management.
According to CRE market data from WDSuite, neighborhood occupancy trails national benchmarks, implying the need for active leasing and targeted value-add to differentiate. Proximity to diversified regional employers underpins workforce demand, and measured capital planning can leverage the asset’s mid-2000s vintage for modernization and operational gains.
- Top-quartile suburban location in the Tampa Bay metro supports long-term renter demand
- 2004 construction competes well versus older stock; scope for targeted modernization
- Expanding 3-mile population and households point to a growing tenant base
- Elevated ownership costs relative to income reinforce reliance on multifamily rentals
- Risk: neighborhood occupancy below national averages requires proactive leasing and pricing discipline