| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 43rd | Fair |
| Amenities | 40th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6807 Porter Rd, New Port Richey, FL, 34653, US |
| Region / Metro | New Port Richey |
| Year of Construction | 1987 |
| Units | 32 |
| Transaction Date | 2017-03-01 |
| Transaction Price | $3,200,000 |
| Buyer | NPR PCPRE LLC |
| Seller | SCC SPE 1 LLC |
6807 Porter Rd, New Port Richey Multifamily Opportunity
Positioned in an inner-suburban pocket of the Tampa–St. Petersburg–Clearwater metro, this 32-unit asset benefits from a growing renter base and projected household gains in the surrounding 3-mile radius, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of the Tampa–St. Petersburg–Clearwater metro with neighborhood dynamics that skew toward workforce housing. Neighborhood-level rents trend slightly above national norms (62nd percentile) while the rent-to-income relationship sits on the tighter side nationally, suggesting prudent lease management can support retention.
Amenity access is mixed: restaurants score strong relative to national peers (81st percentile) and parks are similarly well-represented (82nd percentile), while cafes, groceries, and pharmacies are limited within the immediate neighborhood. For investors, this pattern often supports value for convenience-driven renters who prioritize quick-service dining and outdoor space, with some drive-time reliance for daily goods.
Tenure patterns indicate a modest renter concentration at the neighborhood level (roughly one-quarter of housing units are renter-occupied), pointing to a smaller but durable tenant base. Within a 3-mile radius, demographics show a broader renter pool (about two-fifths of housing units are renter-occupied) and household counts are projected to rise meaningfully by 2028, which supports future multifamily demand depth and leasing velocity.
Occupancy measured at the neighborhood level is below national norms, so asset-level operations and positioning will matter. However, population and household trends within 3 miles are projected to grow, and income levels are expected to advance over the next five years—factors that can underpin absorption and stabilize occupancy over a hold period when combined with disciplined operations and targeted unit improvements based on WDSuite’s commercial real estate analysis.
Safety indicators are mixed but improving on key measures. Overall crime performance sits near the national midpoint (48th percentile), and the neighborhood ranks 211 out of 710 within the Tampa–St. Petersburg–Clearwater metro—competitive among metro neighborhoods rather than a top-quartile outlier.
Violent offense metrics are comparatively favorable (64th percentile nationally), while estimated property offense rates have trended down over the past year, with a decline that places the neighborhood above the national midpoint for improvement. Investors can frame risk as moderate with recent momentum, while remaining mindful of block-to-block variation common to inner-suburban locations.
Regional employment is anchored by finance, healthcare, and technology firms within commutable distance, supporting renter demand tied to office and operations roles from Raymond James, Wellcare Health Plans, MetLife, Tech Data, and Raymond James Financial.
- Raymond James — finance (15.3 miles)
- Wellcare Health Plans — healthcare insurance (16.5 miles) — HQ
- MetLife Insurance Company — insurance (21.1 miles)
- Tech Data — technology distribution (21.6 miles) — HQ
- Raymond James Financial — finance (23.8 miles) — HQ
6807 Porter Rd comprises 32 units averaging roughly 855 square feet, a scale that can be manageable for local operators while offering room to execute interior and operational upgrades. Built in 1987, the vintage suggests potential value-add through modernization and selective capital planning to stay competitive against newer stock in the Tampa–St. Petersburg–Clearwater metro.
Within a 3-mile radius, population and households are projected to expand through 2028, pointing to a larger tenant base and support for occupancy stability over time. Neighborhood-level rents trend modestly above national norms, but affordability pressure is present, so collections and renewals benefit from pragmatic pricing and amenity-forward upgrades. According to CRE market data from WDSuite, nearby dining and park access compare favorably to national peers, while limited daily-goods retail underscores the importance of positioning on convenience and value.
- 32 units with ~855 SF average, suitable for targeted value-add and operational improvements
- 1987 vintage supports a clear modernization thesis and capex planning
- Household growth within 3 miles expands the renter pool, aiding lease-up and retention
- Strong relative access to dining and parks enhances livability positioning
- Risks: below-average neighborhood occupancy and tighter rent-to-income require disciplined pricing and expense control