| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 72nd | Best |
| Demographics | 74th | Best |
| Amenities | 37th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 10938 Avana Way, New Port Richey, FL, 34655, US |
| Region / Metro | New Port Richey |
| Year of Construction | 2011 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
10938 Avana Way New Port Richey Multifamily Opportunity
Suburban New Port Richey shows steady renter demand and midpack occupancy at the neighborhood level, according to WDSuite’s CRE market data, with higher local incomes supporting retention and pricing power over time.
The property sits in a suburban pocket of New Port Richey within the Tampa–St. Petersburg–Clearwater metro. The neighborhood is competitive among Tampa metro neighborhoods (ranked 130 out of 710), reflecting balanced fundamentals and a resident base with above-median income levels relative to national benchmarks. Neighborhood occupancy trends are roughly in line with the national middle, suggesting stability rather than volatility.
Within a 3-mile radius, population and household counts have expanded meaningfully over the past five years, with projections indicating further population growth and a larger tenant base ahead. The area’s renter concentration remains modest — roughly one-fifth of housing units are renter-occupied — which can limit depth but also supports quieter turnover dynamics for multifamily assets.
Local quality-of-life indicators are favorable for family-oriented renters. Average school ratings track in the top quartile nationally, and childcare access rates above national norms add convenience for working households. Daily needs are well served with grocery and restaurant density above national medians, though cafes, parks, and pharmacies are comparatively limited in the immediate neighborhood.
From an affordability standpoint, neighborhood home values are elevated relative to national benchmarks, which tends to sustain reliance on rental housing and supports lease retention. Median contract rents are also above national norms, but rent-to-income levels sit near investor-friendly ranges, helping manage renewal risk. These conditions, based on commercial real estate analysis from WDSuite, point to durable renter demand rather than outsized volatility.
Safety indicators are generally favorable in a national context, with the neighborhood scoring above the national median for overall safety and trending toward the safer side among peer areas. Year over year, property-related offenses show improvement, while violent-offense metrics have recently moved the other way — a mixed pattern that warrants routine monitoring rather than alarmist conclusions.
For investors, the takeaway is comparative, not absolute: the area reads as safer than many neighborhoods nationwide, but short-term shifts in categories can occur. Evaluating trends alongside on-the-ground management and lighting, access control, and coordination with local authorities can help sustain leasing stability.
A diversified employment base in finance, healthcare, and technology sits within typical commuting range, supporting workforce housing demand and lease retention for nearby multifamily communities. Employers listed below reflect the most proximate concentration driving daily commuting patterns.
- Raymond James — finance (10.3 miles)
- Wellcare Health Plans — health insurance (11.9 miles) — HQ
- MetLife Insurance Company — insurance (16.4 miles)
- Tech Data — IT distribution (19.2 miles) — HQ
- Jabil Circuit — electronics manufacturing (22.1 miles) — HQ
This 2011-vintage asset benefits from a suburban location with stable neighborhood occupancy and an expanding 3-mile renter pool. Elevated home values in the area tend to reinforce reliance on rentals, while above-average household incomes support retention and measured rent growth. Based on CRE market data from WDSuite, local schools and childcare access rank well nationally, and everyday retail access is solid even as certain amenities are thinner.
For investors, the thesis centers on steady demand drivers with moderate value preservation: a newer-vintage competitive position versus older stock, supportive income profiles, and a growing regional employment base. Key watch items include the owner-heavy housing mix that can limit depth of the renter base, selective amenity gaps (parks, pharmacies, cafes), and mixed short-term crime trends that merit ongoing monitoring.
- 2011 construction offers competitive positioning versus older stock, with mid-life refresh opportunities
- Expanding 3-mile population and household counts point to a larger tenant base and occupancy stability
- Elevated ownership costs locally support renter reliance and lease retention for multifamily
- Proximity to diverse employers (finance, healthcare, tech) underpins workforce housing demand
- Risks: thinner renter concentration, limited nearby parks/pharmacies/cafes, and mixed recent safety trends