| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 36th | Poor |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5918 N Rome Ave, Tampa, FL, 33604, US |
| Region / Metro | Tampa |
| Year of Construction | 1973 |
| Units | 30 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5918 N Rome Ave Tampa Multifamily Investment Opportunity
Neighborhood fundamentals point to durable renter demand and competitive occupancy, according to WDSuite’s CRE market data. This location offers everyday convenience with strong grocery access and renter depth that can support steady operations.
Located in Tampa’s inner suburbs, the property benefits from neighborhood occupancy that is competitive among Tampa-St. Petersburg-Clearwater neighborhoods (ranked 171 of 710). For investors, this suggests a supportive backdrop for leasing and retention versus weaker sub-areas in the metro.
Daily-needs access is a relative strength: grocery availability ranks in the upper tier nationally, while restaurants are also well represented compared with many neighborhoods. By contrast, parks, cafes, and pharmacies are limited inside the immediate neighborhood, which may reduce some lifestyle appeal but does not typically impede workforce-oriented renter demand.
Renter-occupied housing is a meaningful share of the neighborhood’s stock and sits above national medians, indicating a deeper tenant base and resilience for multifamily assets through cycles. Median contract rents trend in the mid-range nationally, which can aid lease-up and limit turnover sensitivity compared with higher-cost submarkets.
Within a 3-mile radius, households have edged higher in recent years and are projected to continue growing, pointing to a larger tenant base over the medium term. Median household incomes have also advanced, and elevated ownership costs relative to incomes in the neighborhood context tend to sustain reliance on rental housing rather than shift demand into ownership, supporting pricing power without overextending affordability.
Safety indicators for the neighborhood track below national averages, with the area ranking in the lower half among 710 Tampa-St. Petersburg-Clearwater neighborhoods. That said, recent data show a notable year-over-year improvement in estimated property offenses, signaling a positive trend investors can monitor alongside leasing performance.
In practical terms, risk management and on-site controls remain important. Framing performance against the broader region and continuing to track trendlines will be useful for underwriting assumptions rather than relying on block-level conclusions.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience for residents, including health plans, financial services, and technology firms listed below.
- Wellcare — health plans (4.9 miles)
- Wellcare Health Plans — health plans (5.0 miles) — HQ
- Raymond James — financial services offices (6.5 miles)
- Jabil Circuit — electronics manufacturing HQ & offices (13.9 miles) — HQ
- Tech Data — IT distribution (15.3 miles) — HQ
The asset sits in a renter-heavy neighborhood with competitive occupancy versus the Tampa metro, helping underpin leasing stability. Elevated ownership costs relative to incomes in the local context reinforce multifamily demand, while grocery and restaurant access provide day-to-day convenience. Based on commercial real estate analysis from WDSuite, local rents track mid-range nationally, supporting retention while allowing for measured rent growth where units are positioned correctly.
Within a 3-mile radius, households have been trending upward and are projected to expand further, indicating a growing renter pool that can support steady absorption. Investors should balance these positives against modest amenity gaps and below-average school ratings, which may require targeted positioning, tenant experience initiatives, and prudent expense planning.
- Competitive neighborhood occupancy supports leasing stability versus other Tampa sub-areas.
- Renter-occupied housing share and mid-range rents indicate depth of demand and manageable retention risk.
- Elevated ownership costs in the neighborhood context sustain reliance on multifamily, aiding pricing power.
- 3-mile household growth and forecasts point to a larger tenant base over the medium term.
- Risks: below-average safety percentiles and weak school ratings; limited parks/cafes may require targeted positioning.