| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 36th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6627 Trichel Ln, New Port Richey, FL, 34653, US |
| Region / Metro | New Port Richey |
| Year of Construction | 1986 |
| Units | 95 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
6627 Trichel Ln, New Port Richey Multifamily Investment
Neighborhood data points to steady renter demand and occupancy resilience relative to the metro, according to CRE market data from WDSuite. The property’s inner-suburban setting supports durable leasing fundamentals for workforce-oriented housing.
Situated in an inner-suburban pocket of New Port Richey within the Tampa–St. Petersburg–Clearwater region, the area offers balanced livability with investor-relevant tailwinds. Restaurant density is a local strength and parks are plentiful, while grocery, pharmacy, and cafe coverage is thinner—suggesting residents rely on nearby corridors for daily needs, based on WDSuite’s CRE market data.
Renter concentration is elevated for the neighborhood, with a majority of housing units renter-occupied. For investors, that indicates a deeper tenant base and consistent multifamily demand. Neighborhood occupancy tracks above the metro median, supporting leasing stability through typical cycles without outsized concessions.
Within a 3-mile radius, population and household counts have expanded in recent years and are projected to continue growing, pointing to a larger tenant base over time. Forecasts suggest more households and smaller average household sizes, which typically support multifamily absorption and sustained occupancy.
Home values are comparatively modest for the region, but relative to local incomes they create a high-cost ownership market for many households. This context tends to reinforce reliance on rental housing, aiding retention and pricing power for well-managed assets. Median contract rents remain manageable versus incomes, which can help reduce turnover risk with disciplined lease management.
Vintage context: the neighborhood’s average construction year skews older, while this property was built in 1986. The comparatively newer vintage can be competitively positioned against older stock, though investors should plan for targeted modernization and systems updates as part of a long-term capital program.
Safety indicators are mixed relative to national benchmarks. Overall levels track around the metro middle; property offenses sit below the national median but show a meaningful year-over-year decline, a constructive trend for operations. Violent incident measures are also below the national median, though the most recent annual change moved higher, warranting ongoing monitoring and prudent on-site security practices.
Investors should weigh recent trendlines alongside property-level measures (lighting, access control, management presence) to sustain resident satisfaction and retention.
Access to regional employment centers supports renter demand, with commutes to healthcare, insurance, and technology employers that contribute to a stable workforce housing profile. The employers below reflect nearby demand drivers consistent with this dynamic.
- Raymond James — insurance & financial services offices (16.6 miles)
- Wellcare Health Plans — healthcare plans (18.0 miles) — HQ
- MetLife Insurance Company — insurance (22.1 miles)
- Tech Data — technology distribution (23.2 miles) — HQ
- Raymond James Financial — financial services (25.4 miles) — HQ
This 95-unit asset, built in 1986, is newer than much of the surrounding stock and can compete well against older properties while benefiting from a tenant base anchored by a high share of renter-occupied units in the neighborhood. Neighborhood occupancy trends sit above the metro median, supporting lease-up and renewal stability; meanwhile, within a 3-mile radius, population and households are expanding today with further gains forecast, pointing to a larger renter pool over the hold period. According to CRE market data from WDSuite, restaurant and park access are relative strengths, while thinner grocery and pharmacy coverage suggests residents rely on short drives for daily services—typical for an inner-suburban location.
Affordability dynamics are constructive: rents are manageable relative to local incomes, which can support retention, while ownership costs relative to incomes are high enough to sustain reliance on rental housing. Capital planning should include selective modernization typical of a late-1980s vintage to preserve competitiveness and support rent growth in line with submarket norms.
- Occupancy above metro median supports leasing stability and renewal capture
- Elevated renter-occupied share signals depth of tenant demand
- 1986 vintage offers a competitive edge versus older stock with targeted upgrades
- 3-mile population and household growth expand the renter pool over time
- Risks: mixed safety trendlines and thinner daily conveniences require proactive management