| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 37th | Poor |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 801 N Rome Ave, Tampa, FL, 33606, US |
| Region / Metro | Tampa |
| Year of Construction | 2008 |
| Units | 42 |
| Transaction Date | 2006-01-26 |
| Transaction Price | $7,800,000 |
| Buyer | UDR OF TENNESSEE LP |
| Seller | MDG ZAREMBA SAMMYTOWN LLC |
801 N Rome Ave Tampa Multifamily in Amenity-Rich Core
High renter concentration and dense dining/park access underpin demand for this Urban Core location, according to WDSuite’s CRE market data. Neighborhood occupancy has softened, so leasing strategy and amenities will matter for stability.
Located in Tampa’s Urban Core, the neighborhood rates a B and ranks 292 out of 710 metro neighborhoods, placing it above the metro median in overall standing. Amenity access is a clear strength: restaurants and cafes score in the 98th percentile nationally, and parks density is also in the 98th percentile. Grocery options are competitive versus national norms (around the upper quartile), while certain daily services like pharmacies and childcare are less concentrated nearby.
Housing stock skews older across the neighborhood (average vintage 1960), which makes a 2008 asset relatively modern and competitive against much of the local inventory. That positioning can reduce near-term capital needs while supporting rentability against older comparables; however, investors should still plan for mid-life systems and selective modernization.
Renter-occupied share is high at the neighborhood level (about three-quarters of units are renter-occupied), signaling a deep tenant base for multifamily. At the same time, neighborhood occupancy sits in the lower national percentiles and has trended down over five years, indicating more lease-up competition and the need for active management on renewals and pricing.
Within a 3-mile radius, demographics point to a growing and increasingly affluent renter pool: population and households expanded over the last five years and are projected to increase further by 2028, with median household incomes rising materially. This trajectory supports absorption and rentability, while the national top-quartile educational attainment reinforces demand for quality units close to employment and amenities.
Ownership context is mixed for investors: neighborhood home values and a value-to-income ratio near 4.0 suggest a high-cost ownership market relative to incomes in parts of the metro, which can sustain renter reliance on multifamily housing. Still, rent-to-income ratios are elevated locally, so affordability pressure should be considered in retention and renewal strategies.
Safety indicators are weaker than both the metro median and national benchmarks for this neighborhood. Based on WDSuite data, the area sits roughly in the 30th–35th percentile nationally for overall and violent offense measures, meaning crime is higher than the national average.
Within the Tampa–St. Petersburg–Clearwater metro, the neighborhood’s crime rank is 416 out of 710, which is below the metro median. Recent year-over-year readings show increases in both property and violent offense rates, so investors should underwrite security measures and tenant experience accordingly, while noting that safety performance can vary block to block and over time.
Proximity to regional corporate offices supports commuter convenience and a steady renter base, particularly for managed care, healthcare distribution, financial services, and electronics manufacturing roles noted below.
- Wellcare — managed care (7.2 miles)
- Wellcare Health Plans — managed care (7.2 miles) — HQ
- Cardinal Health — healthcare distribution (8.5 miles)
- Raymond James — financial services (9.9 miles)
- Jabil Circuit — electronics manufacturing services (11.9 miles) — HQ
The property’s 2008 vintage is newer than much of the neighborhood’s housing stock, which averages 1960. That relative youth can enhance competitive positioning against older assets, with lower near-term capital exposure and the option to target value through selective interior and common-area upgrades. Dense amenity access (top national percentiles for dining and parks) and high renter concentration support multifamily demand, while recent softness in neighborhood occupancy suggests underwriting should emphasize leasing execution and tenant retention.
Within a 3-mile radius, population and households have grown and are projected to expand further by 2028, alongside strong gains in household incomes—favorable signals for rentability and depth of the tenant base. At the same time, a higher rent-to-income ratio points to affordability pressure that can affect renewals, so measured rent growth and amenity-driven retention may be prudent. According to CRE market data from WDSuite, the neighborhood’s ownership landscape and income profile together suggest sustained renter reliance on quality multifamily near major employment nodes.
- 2008 construction positions the asset competitively versus older neighborhood stock
- Top-tier dining and park access supports leasing velocity and tenant retention
- Growing 3-mile population and rising incomes expand the renter pool
- High renter concentration indicates depth of demand for multifamily
- Risks: lower neighborhood occupancy and affordability pressure require disciplined leasing and renewal strategy