| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 15th | Poor |
| Amenities | 53rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4200 Kenneth Ct, Tampa, FL, 33610, US |
| Region / Metro | Tampa |
| Year of Construction | 1973 |
| Units | 23 |
| Transaction Date | 2010-07-02 |
| Transaction Price | $8,800,000 |
| Buyer | SP JOHNSON KENNETH COURT LP |
| Seller | JOHNSON COURT APARTMENTS L L C |
4200 Kenneth Ct Tampa Multifamily Investment
Steady renter demand in an inner-suburb location supports occupancy resilience, according to CRE market data from WDSuite, with pricing set by neighborhood fundamentals rather than luxury new supply.
Located in Tampa s inner suburbs, the area around 4200 Kenneth Ct offers practical livability for workforce renters. Grocery access and parks test well against national comparisons, while cafes and pharmacies are limited. Rents have trended upward over the last five years and sit above many neighborhoods nationwide, based on WDSuite s CRE market data.
The neighborhood ranks 574 among 710 metro neighborhoods (C rating), indicating performance below the metro median but broadly competitive for value-oriented housing. Occupancy in the neighborhood is near long-run norms, supporting day-to-day leasing stability without the volatility seen in downtowns or newly built corridors.
Within a 3-mile radius, population and household counts have grown in recent years, with forecasts calling for continued increases in households and a smaller average household size. This points to a larger tenant base and more renters entering the market, which can support occupancy and lease-up velocity for well-managed assets.
Home values in the neighborhood are lower than many U.S. areas, which can introduce some competition from ownership options. At the same time, rent-to-income levels indicate some affordability pressure that owners should monitor for retention and renewal strategies. The local renter-occupied share in the immediate neighborhood is below half, but the 3-mile area shows a deeper renter pool, suggesting demand depth for workforce-oriented multifamily.
Vintage context matters: the average construction year nearby is 1970. This property s 1973 vintage is slightly newer than that benchmark, which can be competitively positioned versus older stock; however, systems modernization and targeted renovations may still be required for durability and rent positioning.
Safety indicators are mixed. The neighborhood s crime rank sits below the metro median (ranked 499 among 710 Tampa-St. Petersburg-Clearwater neighborhoods), placing it below average compared with peers. Nationally, the area rates below the midpoint for safety, so investors should underwrite sensible security and lighting measures and emphasize on-site management presence.
Recent trends are nuanced: estimates show property offenses edging down year over year, while violent offense estimates increased. For underwriting, this supports prudent operating assumptions rather than aggressive expense cuts, with attention to resident experience and retention.
Proximity to corporate offices underpins a stable commuter renter base and supports weekday occupancy, with concentrations in healthcare and financial services reflected below.
- Cardinal Health corporate offices (8.5 miles)
- Raymond James corporate offices (8.7 miles)
- Wellcare corporate offices (8.7 miles)
- Wellcare Health Plans corporate offices (8.8 miles) HQ
- MetLife Insurance Company corporate offices (9.4 miles)
With 23 units and a 1973 vintage, this asset sits slightly newer than the neighborhood s average construction year. That positioning can be advantageous versus older stock, while still leaving room for targeted value-add work on building systems and interiors. Neighborhood rents have climbed and remain above many national peers, and occupancy trends are steady, according to CRE market data from WDSuite, reinforcing day-to-day cash flow stability for well-managed properties.
Demand drivers are supported by 3-mile demographics showing growth in households and a shift toward smaller household sizes both supportive of a broader tenant base and ongoing renter pool expansion. Balanced against this, lower local home values may create ownership alternatives, and rent-to-income levels suggest prudent attention to renewal strategies and pricing power.
- Slightly newer 1973 vintage versus nearby average, with value-add potential in systems and interiors
- Occupancy stability supported by inner-suburb fundamentals and upward rent trends
- 3-mile growth in households and smaller household sizes expand the renter pool
- Access to nearby corporate offices bolsters weekday demand and retention potential
- Risk: ownership alternatives and rent-to-income pressures require careful renewal and pricing management