| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 79th | Best |
| Demographics | 87th | Best |
| Amenities | 42nd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3101 N Rocky Point Dr, Tampa, FL, 33607, US |
| Region / Metro | Tampa |
| Year of Construction | 1995 |
| Units | 32 |
| Transaction Date | 1994-02-04 |
| Transaction Price | $4,550,000 |
| Buyer | POST APT HOMES L P |
| Seller | PERDIGON SYLVIA |
3101 N Rocky Point Dr Tampa Multifamily Investment
Positioned in an inner-suburban pocket of Tampa with above-median neighborhood occupancy, the asset benefits from a large renter base and high-cost ownership dynamics. According to WDSuite’s CRE market data, renter demand in this area has remained resilient, supporting stable leasing conditions.
The property sits in an Inner Suburb neighborhood rated A and ranked 30 out of 710 metro neighborhoods, indicating competitive positioning within Tampa-St. Petersburg-Clearwater. Neighborhood occupancy is 93.3% with a positive five-year trend, suggesting durable leasing fundamentals relative to the metro. Median home values are elevated compared with most neighborhoods nationally, which tends to sustain reliance on multifamily rentals and supports pricing power where product quality is competitive.
Renter-occupied housing is substantial at roughly 70% of units (ranked 24 of 710; top tier metro-wide), signaling a deep tenant pool and consistent multifamily demand. Within a 3-mile radius, recent population growth has been modest while household counts have increased, pointing to smaller household sizes and a larger renting cohort over time; this dynamic commonly supports occupancy stability and absorption of renovated units.
Amenity access is mixed: restaurant density is strong (nationally high), parks are comparatively plentiful, while grocery, pharmacy, and café counts are sparse locally—residents likely rely on nearby corridors for daily services. School rating data is unavailable for this neighborhood; investors should underwrite without assuming a school-quality premium.
Vintage matters here: built in 1995 versus a neighborhood average around 1989, the property is somewhat newer than nearby stock. That positioning can be an advantage against older comparables, though investors should still plan for aging systems and targeted modernization to compete for higher-paying renters.
Neighborhood safety indicators are mixed but improving in key areas. The neighborhood sits around the middle of U.S. neighborhoods overall (crime national percentile near the low-50s), indicating slightly better-than-average safety nationally. Violent offense rates have declined meaningfully year over year (top-quartile improvement nationally), while property offense trends also show recent easing.
Within the metro context, this area is competitive among Tampa neighborhoods rather than a top-quartile standout. Investors should assume standard safety-related operating practices (lighting, access control, and visibility) to support retention and leasing, while recognizing recent trend improvements that may aid long-term perception.
The location is proximate to several major corporate headquarters and offices that underpin a diverse white-collar employment base and support renter demand through commute convenience. Key nearby employers include Wellcare Health Plans, Raymond James Financial, Jabil, and Tech Data.
- Wellcare Health Plans — healthcare insurance HQ (4.3 miles) — HQ
- Raymond James Financial — financial services (8.7 miles) — HQ
- Jabil Circuit — electronics manufacturing services (8.9 miles) — HQ
- Tech Data — IT distribution (9.6 miles) — HQ
This 32-unit 1995-vintage asset is positioned in a top-performing Tampa inner-suburban neighborhood where occupancy has trended upward and renter concentration is high, supporting depth of demand and lease stability. Elevated home values in the surrounding area reinforce reliance on rentals, while restaurant and park access enhance livability even as residents may travel for groceries and pharmacies. Based on CRE market data from WDSuite, the neighborhood sits above the metro median on several housing and demographic metrics that matter for multifamily performance.
Investors can target operational stability with selective upgrades: a slightly newer vintage than the neighborhood average supports competitive positioning, and a growing household base within 3 miles suggests a larger tenant pool even as population growth moderates. Underwriting should account for affordability management and standard safety measures, but fundamentals point to sustained renter demand and value-capture opportunities via modernization.
- High renter-occupied share indicates a deep tenant base and supports occupancy stability
- 1995 vintage offers competitive edge vs. older stock with targeted value-add potential
- Elevated ownership costs in the area reinforce rental demand and pricing power for quality product
- Proximity to major headquarters underpins white-collar demand and lease retention
- Risks: uneven amenity mix and mid-tier safety metrics require thoughtful operations and affordability management