| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 29th | Poor |
| Amenities | 47th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 37202 Majestic Oak Ct, Dade City, FL, 33525, US |
| Region / Metro | Dade City |
| Year of Construction | 1981 |
| Units | 21 |
| Transaction Date | 2015-12-18 |
| Transaction Price | $829,000 |
| Buyer | LUXURY ELITE VENTURE LLC |
| Seller | VELMASS INVESTMENTS LLC |
37202 Majestic Oak Ct Dade City Multifamily Investment
Neighborhood occupancy is near 90% and has trended higher, suggesting stable renter demand supported by steady household growth, according to WDSuite’s CRE market data. With a modest renter concentration, leasing is more about tapping a growing pool than rapid turnover.
Positioned in Dade City’s inner-suburban fabric of the Tampa–St. Petersburg–Clearwater metro, the area combines everyday convenience with measured growth. Pharmacy access ranks in the upper tier nationally (about the 85th percentile), and grocery availability is solid (mid‑60s percentile), while restaurants are serviceable (low‑60s). Cafés and formal parks are limited, so the amenity mix leans toward practical daily needs over lifestyle venues. Average school ratings are low, which may temper appeal for some family renters and warrants positioning toward workforce and value-driven households.
Renter-occupied share in the immediate neighborhood is roughly one‑third (about 35%), indicating a smaller but durable renter base that can support consistent occupancy rather than rapid churn. Neighborhood occupancy is around 89% and has improved meaningfully over the last five years, a constructive backdrop for maintaining collections and lease stability through routine turns.
Within a 3‑mile radius, demographics point to a larger tenant base: population has expanded in recent years and is projected to rise further by 2028, with households expected to grow at a faster clip. This widening household count supports a deeper leasing funnel and reduces lease-up risk for well‑managed properties. Median incomes in the 3‑mile area have risen, reinforcing demand for professionally operated rentals as more households enter middle‑income brackets, informed by multifamily property research from WDSuite.
Ownership costs in the neighborhood are elevated relative to local incomes (value‑to‑income sits in a higher national percentile), which tends to sustain reliance on rentals and can support pricing power when paired with good maintenance and service. Neighborhood median contract rents are on the lower side versus national norms, creating room to compete on value while watching rent‑to‑income levels (about 24%) to manage renewal risk and retention strategy. Construction vintage in the area skews early‑to‑mid 1980s on average; with this asset built in 1981, investors should anticipate selective modernization to stay competitive, a typical pathway for value‑add execution in comparable Florida suburbs.
Safety indicators compare favorably at the national level for severe incidents: the neighborhood is in the top decile nationwide for lower violent‑offense rates and in the upper quartile for lower property‑offense rates. This positions the area as comparatively resilient versus many U.S. neighborhoods, which can support resident retention and reduce operational disruptions.
Recent year‑over‑year trends are mixed: violent‑offense indicators have eased slightly, while property‑offense measures ticked higher. For investors, this argues for standard best practices—lighting, access control, and vendor coordination—rather than extraordinary measures, and continued monitoring as part of routine risk management.
Regional employment is anchored by insurance, financial services, grocery retail headquarters, and healthcare plan administrators, supporting a broad workforce renter base with commute‑feasible access from Dade City. The list below reflects nearby corporate offices that can underpin leasing stability and renewal depth.
- MetLife Insurance Company — insurance (18.9 miles)
- Raymond James — financial services (26.0 miles)
- Publix Super Markets — grocery retail HQ (27.0 miles) — HQ
- Wellcare — healthcare plans (30.7 miles)
- Wellcare Health Plans — healthcare plans (30.8 miles) — HQ
This 21‑unit, 1981‑vintage asset offers a practical value‑add profile in a neighborhood where occupancy approaches 90% and has improved over five years. The renter base is smaller (about one‑third of housing units are renter‑occupied) but stable, and the 3‑mile radius shows rising population with households projected to expand further—supporting a deeper leasing funnel and steady absorption.
Given elevated ownership costs relative to incomes and below‑national market rents, well‑executed renovations and operational upgrades can enhance competitiveness without overreaching affordability thresholds. According to commercial real estate analysis from WDSuite, these fundamentals—paired with growing 3‑mile incomes and a diversified regional employer base—support an income‑focused hold with targeted modernization.
- Occupancy tailwinds and a stable renter base support collections and renewal potential.
- 1981 vintage offers clear value‑add angles via unit and systems upgrades to outperform older comps.
- 3‑mile population and household growth expand the tenant pool, reducing lease‑up risk.
- Lower relative rents enable competitive positioning while monitoring rent‑to‑income for retention.
- Risks: limited parks/cafés and lower school ratings; recent uptick in property‑offense indicators warrants routine security best practices.