| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 26th | Poor |
| Demographics | 53rd | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 11336 Cockle Dr, Port Richey, FL, 34668, US |
| Region / Metro | Port Richey |
| Year of Construction | 1998 |
| Units | 28 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
11336 Cockle Dr Port Richey 28-Unit Multifamily
1998-vintage units offer a competitive edge versus older local stock, with renter demand supported by nearby regional employment, according to WDSuite’s CRE market data. Neighborhood occupancy and renter concentration are measured at the neighborhood level and suggest careful lease-up planning.
Positioned in a rural pocket of Port Richey within the Tampa–St. Petersburg–Clearwater metro, the property sits in a neighborhood that skews older in housing stock and sparse in daily conveniences. Amenity density ranks at the bottom among 710 metro neighborhoods and in low national percentiles, indicating limited walkable cafes, groceries, parks, and pharmacies. For investors, this tends to favor car-dependent tenants and underscores the importance of on-site offerings and parking in operations.
The neighborhood’s renter-occupied share is measured at the neighborhood level at 22.8%, pointing to a smaller local renter base compared with more urban submarkets; by contrast, demographics aggregated within a 3-mile radius indicate a broader pool with roughly one-third of housing units renter-occupied. This split suggests a property may draw from a wider catchment area for leasing, while day-to-day marketing should emphasize access and commute convenience over walkability.
Median contract rents in the neighborhood remain relatively accessible, while 3-mile data show rents trending higher over the last five years with a further increase forecast. Combined with a low neighborhood median home value and a low value-to-income ratio, ownership is comparatively more attainable here than in many metros, which can introduce competition for renters; operators should prioritize retention, service quality, and value positioning to sustain occupancy.
Within a 3-mile radius, households increased over the last five years and are projected to continue rising even as average household size declines, a pattern that can expand the tenant base and support occupancy stability. Rising median and mean household incomes in the same radius further reinforce the case for steady workforce demand and measured rent growth, based on commercial real estate analysis from WDSuite.
Comparable neighborhood-level safety metrics are not available in this dataset for Port Richey. Investors typically benchmark the area against Tampa–St. Petersburg–Clearwater metro averages and review multi-year trends when data are available. Standard diligence—reviewing recent police reports, touring at different times of day, and comparing insurance quotes—can help contextualize risk at the block and asset level.
Regional white-collar employers within commuting distance support a stable workforce renter base for value-oriented units. The following firms anchor nearby employment and commute patterns mentioned here are those most relevant to the asset’s likely tenant profile.
- Raymond James — financial services offices (19.8 miles)
- Wellcare Health Plans — healthcare services (21.9 miles) — HQ
- MetLife Insurance Company — insurance (24.0 miles)
- Tech Data — technology distribution (27.9 miles) — HQ
- Raymond James Financial — financial services (30.1 miles) — HQ
11336 Cockle Dr is a 28-unit, 1998-built asset that is newer than the area’s average vintage (1980), providing relative competitiveness versus older neighborhood stock while still leaving room for targeted modernization and value-add. The immediate neighborhood shows limited amenity density and a smaller renter-occupied share, but the broader 3-mile radius reflects an expanding household base, rising incomes, and continued rent growth—factors that can support leasing and renewal outcomes for well-managed, value-oriented units, according to CRE market data from WDSuite.
Investors should underwrite with conservative neighborhood occupancy assumptions and emphasize operational strategies that widen the demand funnel (regional commute access, online leasing, and resident services). Given more attainable ownership costs locally, positioning around service, convenience, and in-unit updates can help protect pricing power and retention.
- 1998 vintage vs. older area stock supports competitive positioning with targeted renovation upside
- 3-mile radius shows household growth and rising incomes, expanding the tenant base for workforce rentals
- Forecast rent growth in the surrounding area supports measured revenue gains with disciplined asset management
- Operational focus on access, parking, and resident services offsets sparse neighborhood amenities
- Risks: low neighborhood occupancy, car-dependent location, and competition from relatively attainable ownership