| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 65th | Best |
| Demographics | 56th | Good |
| Amenities | 10th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2454 Ranchside Ter, New Port Richey, FL, 34655, US |
| Region / Metro | New Port Richey |
| Year of Construction | 1985 |
| Units | 79 |
| Transaction Date | 2025-09-16 |
| Transaction Price | $5,600,000 |
| Buyer | RANCHSIDE APARTMENTS FL OWNER LLC |
| Seller | RANCHSIDE APARTMENTS LTD |
2454 Ranchside Ter New Port Richey Multifamily Investment
Neighborhood-level occupancy trends sit above the metro median while renter-occupied share is elevated, pointing to a durable tenant base, according to WDSuite’s CRE market data. Elevated ownership costs relative to incomes further support sustained rental demand in this inner-suburban Pasco County location.
Located in an inner-suburban area of New Port Richey within the Tampa–St. Petersburg–Clearwater metro, the neighborhood holds a C+ rating (ranked 492 out of 710 metro neighborhoods), below the metro median yet showing fundamentals relevant to workforce housing. According to WDSuite’s commercial real estate analysis, neighborhood occupancy is above the metro median and has improved over the past five years, a supportive backdrop for stabilizing rent rolls.
Renter-occupied share stands at 44.3% for the neighborhood (top quartile among 710 metro neighborhoods), indicating a comparatively deep renter base and demand depth for multifamily units. Median contract rents place the neighborhood in the upper half nationally, while rent-to-income conditions are comparatively manageable, which can aid retention while allowing measured revenue management.
Daily-needs access is mixed: grocery availability is slightly above national norms, but on-block cafes, restaurants, parks, and pharmacies are limited, so residents typically drive for amenities. For investors, this pattern is common in suburban workforce submarkets that compete on value, parking, and commute convenience rather than walkable retail.
Within a 3-mile radius, demographics show a broad age mix and steady recent gains in population and households, with projections pointing to further growth over the next five years. Rising incomes in the same 3-mile catchment support a larger tenant base and can help sustain occupancy and collections as the area densifies.
WDSuite does not provide a scored neighborhood crime ranking for this location at this time. Investors typically compare local trendlines with metro and national context and incorporate property-level practices—such as lighting, controlled access, and active on-site management—to support resident experience and retention.
Nearby white-collar and advanced manufacturing employers—spanning finance, managed care, insurance, IT distribution, and electronics—provide a diversified employment base that supports workforce renter demand and leasing stability.
- Raymond James — financial services (13.9 miles)
- Wellcare Health Plans — managed care (14.5 miles) — HQ
- Tech Data — IT distribution (19.2 miles) — HQ
- MetLife Insurance Company — insurance (20.4 miles)
- Jabil Circuit — electronics manufacturing (22.8 miles) — HQ
With 79 units in a suburban Pasco County setting, the asset benefits from neighborhood occupancy that is above the metro median and an elevated renter-occupied share, indicating a deeper tenant pool for multifamily. According to CRE market data from WDSuite, rents sit in the upper half nationally while rent-to-income levels are comparatively manageable, helping operators balance pricing with retention.
Within a 3-mile radius, forecasts point to growth in population, households, and incomes—supporting renter pool expansion and absorption potential. The area’s high-cost ownership landscape relative to incomes further reinforces reliance on rental housing, which can underpin cash flow durability, while limited on-block amenities present a known trade-off that can be mitigated by parking and commute accessibility.
- Above-metro-median neighborhood occupancy supports leasing stability
- Elevated renter-occupied share indicates strong multifamily demand depth
- 3-mile growth in population and incomes expands the tenant base
- Ownership costs vs. incomes reinforce rental reliance and retention
- Risk: limited walkable amenities; operators may compete on value, parking, and access