| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Poor |
| Demographics | 33rd | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1602 40th Avenue Cir E, Ellenton, FL, 34222, US |
| Region / Metro | Ellenton |
| Year of Construction | 1991 |
| Units | 42 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1602 40th Ave Cir E Ellenton Multifamily Investment
Stabilizing renter demand in suburban Ellenton supports steady operations, according to WDSuite’s CRE market data. Positioning near regional job centers offers durable leasing potential without relying on aggressive rent growth.
This suburban location in Ellenton balances everyday convenience with access to the North Port–Sarasota–Bradenton metro. Neighborhood amenities lean service-oriented: restaurant density trends above the national median, while parks access is also comparatively strong. Cafés and pharmacies are sparse locally, so residents typically draw from nearby corridors for those services, based on CRE market data from WDSuite.
The neighborhood’s occupancy is competitive among North Port–Sarasota–Bradenton neighborhoods (58 out of 218), a constructive signal for income stability. Renter-occupied housing comprises roughly one-fifth of units, indicating a modest but reliable tenant base rather than a transient renter cluster. Median school ratings for the neighborhood sit well below national norms, which can temper appeal for some family renters but may be less determinative for workforce-oriented demand.
Within a 3-mile radius, population and household counts have grown meaningfully over the past five years, and forecasts point to continued population growth with a sizable increase in households. A larger nearby renter pool typically supports occupancy stability and lease-up consistency for well-managed assets.
Home values in the neighborhood are near the national median, and rent-to-income levels sit in a manageable range. In practical terms, the area’s ownership costs reinforce reliance on multifamily housing in several segments, supporting tenant retention and reducing turnover risk for professionally operated properties.
Vintage context: the property’s 1991 construction is newer than the neighborhood average (1983). That positioning can be competitively favorable versus older stock, though investors should still plan for system updates and selective renovations to meet current renter expectations.
Safety trends are mixed. The neighborhood ranks in the bottom quartile for crime among 218 metro neighborhoods, and national comparisons place it below the median for safety. Recent year-over-year indicators point to an uptick in both property and violent offenses, so prudent underwriting for lighting, access control, and loss-prevention programs is advisable. Nearby submarkets may present stronger comparative safety profiles, which can influence tenant mix and retention strategies.
Proximity to regional employers underpins workforce housing demand and commute convenience for renters. Notable nearby employers include Airgas, Jabil Circuit, Raymond James Financial, Cardinal Health, and Tech Data.
- Airgas Store — industrial gases & distribution (7.4 miles)
- Jabil Circuit — electronics manufacturing services (24.6 miles) — HQ
- Raymond James Financial — financial services (26.2 miles) — HQ
- Cardinal Health — healthcare distribution (26.5 miles)
- Tech Data — IT distribution (29.1 miles) — HQ
This 42-unit, 1991-vintage asset in Ellenton is positioned for steady operations supported by a renter base that is present but not overconcentrated, and neighborhood occupancy that is competitive within the North Port–Sarasota–Bradenton metro. Within a 3-mile radius, population and household growth expand the near-term tenant pool, while ownership costs near national norms help sustain reliance on rental housing. According to CRE market data from WDSuite, local amenity access is strongest in parks and restaurants, which can aid day-to-day livability even as cafés and pharmacies remain limited.
The vintage is newer than the area’s average stock, offering relative competitiveness versus older assets; however, investors should anticipate targeted system updates and value-add finishes to sharpen positioning. Safety benchmarks trail both metro and national medians, so prudent operating plans—lighting, access control, and partnerships with local patrol—are advisable and should be reflected in underwriting.
- Competitive neighborhood occupancy supports income stability versus the metro set.
- 3-mile population and household growth expand the tenant base and support leasing.
- 1991 construction offers a relative edge over older stock with targeted upgrade potential.
- Risks: below-median safety and limited café/pharmacy access warrant operating diligence and conservative underwriting.