| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 64th | Good |
| Demographics | 42nd | Fair |
| Amenities | 74th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3706 W Idlewild Ave, Tampa, FL, 33614, US |
| Region / Metro | Tampa |
| Year of Construction | 1985 |
| Units | 110 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3706 W Idlewild Ave Tampa Multifamily Investment
Inner-suburb Tampa shows an elevated renter base and steady neighborhood occupancy, supporting durable tenant demand near major employment hubs, according to WDSuite’s CRE market data.
Located in an inner-suburban pocket of Tampa, the neighborhood scores A- overall and sits at rank 147 among 710 metro neighborhoods, signaling competitive fundamentals for multifamily relative to the broader region. Amenity access is a local strength, with neighborhood amenities testing above national medians (74th percentile) and particularly strong grocery and park density, which supports daily convenience and resident retention.
Renter-occupied housing is prevalent at the neighborhood level (approximately two-thirds of units), indicating a deep tenant base for multifamily. Neighborhood occupancy runs around the metro midpoint, which typically points to balanced leasing conditions and room for asset-level differentiation via operations and renovations. Median contract rents in the neighborhood track above national midpoints while still below top-tier urban cores, helping sustain leasing velocity with value-focused renters.
Within a 3-mile radius, the population base is substantial and is projected to expand over the next five years alongside a notable increase in households, according to CRE market data from WDSuite. This translates into a larger renter pool over time, while a modest decline in average household size suggests continued demand for smaller formats and flexible lease options—both supportive of occupancy stability.
Ownership costs in the neighborhood trend elevated relative to local incomes (92nd percentile value-to-income nationally), which typically reinforces reliance on rental housing and supports pricing power for well-positioned assets. At the same time, rent-to-income ratios indicate some affordability pressure for renters, a consideration for lease management and renewal strategies rather than a deterrent to demand.
Neighborhood safety indicators sit near the national midpoint (48th percentile nationally), with the area ranking 219 out of 710 metro neighborhoods—roughly in line with broader Tampa conditions. Recent trends show incremental improvement: estimated property offenses declined year over year and violent offense estimates edged down slightly, suggesting conditions are stable to modestly improving versus the prior period.
For investors, this profile generally supports mainstream renter demand without requiring a premium risk adjustment, while still making proactive security measures and resident engagement worthwhile to sustain retention and community standards.
Proximity to regional employers supports weekday commute convenience and a broad white-collar renter base, anchored by Wellcare, Wellcare Health Plans, Raymond James, MetLife Insurance Company, and Cardinal Health.
- Wellcare — managed care offices (3.5 miles)
- Wellcare Health Plans — managed care HQ (3.6 miles) — HQ
- Raymond James — financial services offices (6.3 miles)
- MetLife Insurance Company — insurance (11.8 miles)
- Cardinal Health — healthcare distribution (11.9 miles)
This 110-unit asset benefits from a renter-heavy neighborhood, competitive amenity access, and steady neighborhood occupancy, positioning it for durable leasing and potential operational upside. Elevated ownership costs versus incomes in the area typically keep renters in the multifamily market, while national-percentile amenity strengths (groceries and parks) support daily convenience and retention. Within a 3-mile radius, households are projected to increase, expanding the tenant base and supporting occupancy stability over the medium term.
According to CRE market data from WDSuite, neighborhood rent levels sit above national midpoints without approaching top-tier urban pricing, offering room to compete via renovation scope, unit finishes, and service differentiation. Affordability pressure (via rent-to-income ratios) suggests disciplined renewal strategies and value-focused upgrades should underpin pricing and retention.
- Renter-occupied concentration supports a deep tenant base and stable multifamily demand.
- Amenity-rich inner-suburb location aids retention and leasing velocity.
- Projected household growth within 3 miles expands the renter pool and supports occupancy.
- Pricing positioned above national midpoints yet competitive versus urban cores, enabling value-add execution.
- Risk: Affordability pressure requires careful renewal management and targeted capex to sustain retention.