| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 40th | Fair |
| Amenities | 12th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8104 Spring Hill Dr, Spring Hill, FL, 34606, US |
| Region / Metro | Spring Hill |
| Year of Construction | 1987 |
| Units | 64 |
| Transaction Date | 2004-03-15 |
| Transaction Price | $3,000,000 |
| Buyer | LOUIS CARRIER PROPERTIES INC |
| Seller | STELLATO LAWRENCE A |
8104 Spring Hill Dr, Spring Hill FL Multifamily Investment
Neighborhood occupancy appears steady with a modest renter base, according to WDSuite’s CRE market data, positioning this suburban asset for durable tenant demand relative to nearby ownership options.
Located in suburban Spring Hill within the Tampa–St. Petersburg–Clearwater metro, the property offers 64 units averaging 862 sq. ft., supporting livability for longer stays and downsizing households. Neighborhood occupancy is 90.3% (for the neighborhood, not the property) and is above the metro median given its rank of 342 out of 710 metro neighborhoods, based on CRE market data from WDSuite.
Local amenity density ranks 618 out of 710 metro neighborhoods, indicating a more car-oriented setting with limited walkable retail, cafes, and parks nearby. That said, the broader metro’s job nodes are reachable by regional corridors, and renter decisions here tend to weigh space and value over immediate walkability.
Tenure patterns point to an owner-heavy area: the share of housing units that are renter-occupied is 18.9% in the neighborhood. For investors, this suggests a smaller but stable renter pool where targeted marketing and competitive finishes can support leasing, while the relatively low rent-to-income ratio (0.22) indicates manageable affordability pressure that can aid retention and collections.
Within a 3-mile radius, demographics show population growth over the past five years alongside a 6%+ increase in households, expanding the local tenant base. Forward-looking indicators point to additional household growth through the forecast period, which supports occupancy stability and measured rent growth for well-maintained product.
Home values in the neighborhood sit around the national middle and below many Tampa core submarkets, which can reinforce reliance on rental housing for households prioritizing flexibility. For investors, this context supports consistent demand for quality, professionally managed units rather than speculative, top-end pricing.
Comparable safety data for this specific neighborhood are not available in WDSuite’s current release. Investors should review local law enforcement summaries and recent trend reports to benchmark conditions against nearby Tampa–St. Petersburg–Clearwater neighborhoods and to inform onsite security, lighting, and property management practices.
Regional employment is anchored by finance, insurance, healthcare, and technology distributors within commuting distance, supporting workforce housing demand and resident retention for professionally managed communities.
- Raymond James — finance offices (25.2 miles)
- MetLife Insurance Company — insurance services (25.7 miles)
- Wellcare Health Plans — healthcare services (28.9 miles) — HQ
- Tech Data — IT distribution (37.6 miles) — HQ
- Raymond James Financial — financial services (39.3 miles) — HQ
This 1987-vintage, 64-unit asset in suburban Spring Hill competes on space and value relative to core Tampa locations, with neighborhood occupancy above the metro median and an owner-heavy housing stock that sustains a consistent, needs-based renter pool. The property’s slightly older vintage versus the neighborhood average (1989) points to potential value-add through interior updates and selective capital planning to enhance leasing velocity and rent positioning.
Within a 3-mile radius, recent population gains and a rising household count expand the local tenant base, and forecasts indicate further household growth that supports occupancy stability. According to CRE market data from WDSuite, neighborhood rents track near the middle of national distributions while rent-to-income looks manageable, suggesting room for steady operations when paired with disciplined expense control and resident retention. Key considerations include limited immediate amenity density and the need to underwrite capex typical for late-1980s construction.
- Above-metro-median neighborhood occupancy supports stable leasing for well-managed units
- 1987 vintage offers value-add potential through targeted interiors and systems upgrades
- 3-mile population and household growth expand the renter pool and support retention
- Rent and income context indicate manageable affordability pressure for sustained collections
- Risks: car-oriented amenity profile and capex needs typical of late-1980s construction