| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 32nd | Poor |
| Amenities | 26th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1503 E 142nd Ave, Tampa, FL, 33613, US |
| Region / Metro | Tampa |
| Year of Construction | 1974 |
| Units | 61 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1503 E 142nd Ave Tampa Multifamily Investment
Neighborhood occupancy has remained resilient and renter demand is deep, according to WDSuite 0s CRE market data, supporting stable cash flow potential for well-managed assets. Figures cited for occupancy and renter concentration reflect neighborhood-level conditions rather than the property itself.
Located in an inner-suburb pocket of Tampa, this area balances everyday convenience with workforce housing dynamics. Grocery access is a relative strength (high presence by metro standards and in the upper national percentiles), while parks, cafes, childcare, and pharmacies are limited locally , directing residents to nearby corridors for broader amenities.
At the neighborhood level, occupancy stands at 94.7% and has trended higher over the last five years, ranking in the top quartile among 710 Tampa metro neighborhoods. The area is also renter-oriented: 56.4% of housing units are renter-occupied, placing it in the top quartile locally. For investors, that combination points to a sizable tenant base and support for leasing velocity and retention with disciplined management.
The neighborhood s overall rating is C- (ranked 638 of 710), which is below the metro median, but fundamentals such as occupancy and renter concentration remain comparatively strong. Median home values are on the lower end for the region, which tends to reinforce reliance on multifamily rentals and can support steady demand. Rent-to-income levels indicate manageable affordability pressure, helping limit turnover risk while still requiring prudent lease management.
Within a 3-mile radius, demographics show population and household growth over recent years, with forecasts calling for additional gains alongside a gradual decline in average household size. This trajectory suggests a larger tenant base and more renters entering the market over the medium term, reinforcing occupancy stability for well-positioned assets.
Safety indicators are mixed. Compared with the Tampa-St. Petersburg-Clearwater metro, the neighborhood trends below the metro median for safety (crime rank in the less favorable third among 710 neighborhoods), while nationally it sits around the middle of the pack. For investors, that means underwriting should assume standard security and operational protocols rather than premium safety assumptions.
Recent movement is constructive: estimated property crime has declined meaningfully year over year (improvement stronger than many neighborhoods nationally), and violent crime shows modest improvement. Monitoring trend continuity and property-level measures remains prudent for risk management.
Nearby employment nodes include financial services and healthcare operators such as Raymond James, MetLife Insurance Company, Wellcare, Wellcare Health Plans, and Cardinal Health, supporting workforce housing demand and commute convenience for residents.
- Raymond James financial services (4.0 miles)
- MetLife Insurance Company insurance (5.5 miles)
- Wellcare healthcare services (7.1 miles)
- Wellcare Health Plans healthcare services (7.2 miles) HQ
- Cardinal Health healthcare distribution (14.1 miles)
This 61-unit asset, built in 1974, is older than the neighborhood s average vintage and lends itself to targeted value-add and systems upgrades that can improve competitive positioning. At the neighborhood level, occupancy is strong and trending upward, and a top-quartile renter-occupied share signals depth in the tenant pool. Based on CRE market data from WDSuite, these factors align with steady leasing and the potential for disciplined rent optimization where affordability allows.
Within a 3-mile radius, population and households have grown and are projected to continue expanding, implying a larger renter pool and support for sustained occupancy. Lower local ownership costs relative to income tend to sustain rental reliance in this submarket, though prudent pricing and retention strategies remain important to balance affordability pressure and revenue goals.
- 1974 vintage offers value-add and capex planning opportunities to enhance competitiveness
- Neighborhood occupancy is high with five-year improvement, supporting cash flow stability
- Top-quartile renter-occupied share indicates a deep tenant base for multifamily demand
- 3-mile population and household growth expands the prospective renter pool and leasing momentum
- Risk: safety ranks below the metro median; continue security, screening, and monitoring to manage downside