| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 33rd | Poor |
| Amenities | 11th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7328 Pursley Dr, New Port Richey, FL, 34653, US |
| Region / Metro | New Port Richey |
| Year of Construction | 1987 |
| Units | 74 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
7328 Pursley Dr New Port Richey Multifamily Investment
Neighborhood occupancy trends sit above the metro median, pointing to steady tenant demand, according to WDSuite’s CRE market data. For investors, the area’s stable renter base supports income durability while leaving room for targeted value-add.
Located in New Port Richey within the Tampa–St. Petersburg–Clearwater metro, the property sits in an Inner Suburb pocket with occupancy for the neighborhood tracking above the metro median. That backdrop supports leasing stability and reduces downtime risk relative to weaker-performing subareas.
Renter-occupied share is in the mid-30% range at the neighborhood level, indicating a meaningful renter concentration that underpins multifamily depth. Within a 3-mile radius, households and population have grown in recent years, with further increases projected, expanding the local renter pool and supporting future absorption.
Local amenities are modest, with limited cafes, groceries, parks, and childcare within the immediate neighborhood, while restaurant density is comparatively stronger versus many U.S. areas. School options rate below national norms; investors should underwrite marketing and retention strategies that emphasize convenience to employment corridors over school-driven demand.
The existing stock in this neighborhood averages newer construction than this asset. With a 1987 vintage against a local average skewing into the 1990s, investors should plan for selective capital improvements and common-area refreshes to stay competitive with nearby properties, positioning upgrades to support rent trade-outs while managing affordability.
Comparable safety data for this neighborhood are not available in WDSuite for a metro rank or national percentile comparison at this time. Investors should rely on regional trend context and on-site diligence to gauge resident perceptions and management practices that support retention.
Proximity to major financial services, healthcare insurance, and technology distribution employers supports a broad commuter tenant base and helps stabilize leasing through varied economic cycles. Nearby employers include Raymond James, Wellcare Health Plans, MetLife, Tech Data, and Raymond James Financial.
- Raymond James — financial services offices (16.7 miles)
- Wellcare Health Plans — healthcare insurance (18.5 miles) — HQ
- MetLife Insurance Company — insurance (21.7 miles)
- Tech Data — IT distribution (24.2 miles) — HQ
- Raymond James Financial — financial services (26.4 miles) — HQ
This 74-unit, 1987-vintage asset offers a defensive income profile in a neighborhood where occupancy trends run above the metro median, supporting day-one stability and measured rent growth. The area shows a credible renter base and expanding 3-mile household counts, which point to a larger tenant pipeline and ongoing leasing momentum, based on CRE market data from WDSuite.
Given older-than-peer vintage versus neighborhood norms, a focused value-add plan—targeting unit interiors, building systems, and curb appeal—can sharpen competitive positioning against 1990s-era stock. Ownership costs in the broader area are relatively accessible compared with high-cost metros, so pricing discipline and resident retention programs are important to manage affordability pressure and minimize turnover.
- Above-metro neighborhood occupancy supports income stability and lower downtime risk.
- Expanding 3-mile household counts indicate a growing renter pool and absorption support.
- 1987 vintage provides clear value-add pathways to compete with newer local stock.
- Diverse nearby employment corridors (financial, healthcare, tech distribution) bolster demand.
- Risk: modest immediate amenities and relatively accessible ownership options require pricing and retention discipline.