| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Best |
| Demographics | 62nd | Good |
| Amenities | 91st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3605 Landings Way Dr, Tampa, FL, 33624, US |
| Region / Metro | Tampa |
| Year of Construction | 1996 |
| Units | 24 |
| Transaction Date | 1993-09-30 |
| Transaction Price | $238,000 |
| Buyer | CYPRESS MEADOWS ASSOC |
| Seller | CYPRESS MEADOWS HOMES INC |
3605 Landings Way Dr Tampa 24-Unit Multifamily Investment
Neighborhood occupancy remains high and supports stable leasing conditions, according to WDSuite’s CRE market data. The inner-suburb location positions the asset to capture steady renter demand from nearby employment centers.
This property sits in an inner-suburban pocket of Tampa that scores near the top of metro rankings (A+ neighborhood rating; 8th out of 710), indicating strong fundamentals relative to other Tampa-St. Petersburg-Clearwater neighborhoods. Neighborhood occupancy is 98.1% — a neighborhood-level metric, not the property’s — placing it in the top quartile nationally and signaling durable leasing conditions for multifamily.
Local livability supports tenant retention: restaurants, cafes, groceries, parks, and pharmacies are all dense for the area, with amenities measuring in the upper national percentiles. Average school ratings around 4.0/5 further bolster family appeal compared with many peer neighborhoods in the metro.
Tenure patterns indicate a deep renter base: the neighborhood’s renter-occupied share is elevated versus most U.S. areas (97th percentile), which typically supports absorption and renewals for workforce and market-rate units. Median home values are higher than many suburbs in the region and value-to-income metrics rank in the upper national percentiles, creating a high-cost ownership market that tends to sustain reliance on rentals — a dynamic corroborated by WDSuite’s multifamily property research.
Demographic statistics aggregated within a 3-mile radius show recent population growth and an increasing household count over the last five years, with additional gains projected through 2028. This expansion translates into a larger tenant base and supports occupancy stability, though rent-to-income dynamics suggest some affordability pressure that owners should manage through prudent lease strategy.
Safety indicators for the neighborhood track below national medians, with crime measures landing in lower national percentiles relative to neighborhoods nationwide. Within the Tampa-St. Petersburg-Clearwater metro, the neighborhood’s crime standing is in the lower half of the 710 neighborhoods, making safety a consideration rather than a differentiator.
Recent year-over-year trends indicate increases in violent offense at the neighborhood level. Investors commonly mitigate through lighting, access control, and resident engagement, and by underwriting to conservative retention assumptions. Compare neighborhood trends with property-level data and third-party reports when finalizing risk assessments.
Proximity to major corporate offices underpins renter demand and commute convenience, with a concentration in financial services and healthcare. Nearby employers include Raymond James, Wellcare/Wellcare Health Plans, MetLife, and Tech Data.
- Raymond James — corporate offices (1.26 miles)
- Wellcare — corporate offices (5.91 miles)
- Wellcare Health Plans — corporate offices (5.97 miles) — HQ
- MetLife Insurance Company — insurance (8.14 miles)
- Tech Data — technology distribution (18.14 miles) — HQ
The asset benefits from an inner-suburban Tampa location with neighborhood occupancy in the high-90s (neighborhood metric), dense amenities, and a renter-occupied concentration that supports a stable leasing base. Elevated home values and strong value-to-income positioning indicate a high-cost ownership market, which often sustains multifamily demand, according to WDSuite’s commercial real estate analysis.
Within a 3-mile radius, recent population and household growth — with further gains projected — point to a larger tenant base and healthy absorption potential. Operators should balance these strengths against affordability pressure (rent-to-income at the neighborhood level) and safety variability by emphasizing renewal management and conservative underwriting.
- High neighborhood occupancy supports leasing stability (neighborhood-level metric, not property)
- Deep renter-occupied share indicates demand depth for multifamily
- 3-mile population and household growth expand the tenant base, aiding absorption
- High-cost ownership market reinforces reliance on rentals and potential retention
- Risks: affordability pressure and below-median safety warrant conservative lease and expense planning