| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 30th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6525 Deeb St, Port Richey, FL, 34668, US |
| Region / Metro | Port Richey |
| Year of Construction | 1981 |
| Units | 28 |
| Transaction Date | 2017-06-01 |
| Transaction Price | $8,250,000 |
| Buyer | WINDTREE APARTMENTS OF PASCO |
| Seller | --- |
6525 Deeb St Port Richey 28-Unit Multifamily
Neighborhood renter demand is supported by everyday retail density and an above-median occupancy backdrop for the area, according to WDSuite’s CRE market data. Investors evaluating cash flow stability may find the submarket’s tenant base and necessities access conducive to steady leasing.
Located in Port Richey’s inner-suburban fabric of the Tampa–St. Petersburg–Clearwater metro, the neighborhood rates C+ (ranked 478 out of 710 metro neighborhoods), indicating competitive positioning versus many Tampa-area peers without commanding premium pricing. Neighborhood occupancy is 91.0% and sits above the metro median (rank 315 of 710), a constructive signal for investors assessing stability at the submarket level rather than at the property.
Daily-needs access is a relative strength: grocery options rank 50 of 710 (top decile locally; 95th percentile nationally), and pharmacy density ranks 6 of 710 (99th percentile nationally). Restaurant availability is also strong (rank 76 of 710). By contrast, cafes, childcare, and parks register at the bottom of metro rankings, so lifestyle amenities are more utilitarian than boutique—a consideration for positioning and tenant profile.
Tenure dynamics lean toward rentals at the neighborhood level, with a renter-occupied share of 51.8% (89th percentile nationally for renter concentration). For multifamily investors, this depth of renter households supports a consistent tenant pipeline and can aid renewal momentum, even if leasing velocity varies with seasonality.
Within a 3-mile radius, population and households have expanded (households up over the past five years with further gains projected), while average household size is edging lower. This points to a larger tenant base and more one- to two-person households entering the market—favorable for smaller unit mixes and sustained absorption. Median contract rents in the 3-mile area remain accessible relative to incomes, and the neighborhood’s rent-to-income ratio trends toward the lower end nationally, which can support retention and reduce turnover risk. Median home values in the neighborhood are lower than many U.S. areas, which can introduce some competition from entry-level ownership, but also underscores the appeal of well-managed rentals for residents prioritizing flexibility.
Comparable safety metrics at the neighborhood level are not available in WDSuite for this location. Investors typically benchmark conditions against broader metro trends and corroborate with property-level measures (lighting, access control, and local policing coordination) during diligence. Use multi-period trend reviews and local comps to assess directionality rather than relying on single-year snapshots.
Regional employment is anchored by financial services, healthcare, insurance, and technology distribution offices within commuting range, supporting renter demand and lease retention for workforce housing. Nearby employers include Raymond James, Wellcare Health Plans, Wellcare, MetLife Insurance Company, and Tech Data.
- Raymond James — financial services (17.9 miles)
- Wellcare Health Plans — healthcare management (19.6 miles) — HQ
- Wellcare — healthcare services (19.6 miles)
- MetLife Insurance Company — insurance (22.8 miles)
- Tech Data — IT distribution (25.1 miles) — HQ
The 28-unit property at 6525 Deeb St was built in 1981, making it modestly older than the neighborhood’s average vintage. For investors, this typically implies planning for building systems and interior upgrades, with potential value-add opportunities to enhance competitiveness against newer stock while maintaining an attainable rent position. According to commercial real estate analysis from WDSuite, the surrounding neighborhood exhibits above-median occupancy and a high share of renter-occupied housing, supporting durable tenant demand.
Local strengths skew toward necessities retail and regional employment access, which can underpin leasing and renewals. Demographic trends within a 3-mile radius point to population and household growth alongside smaller average household sizes—factors that expand the renter pool and can support occupancy stability. Balanced against these positives, relatively accessible ownership costs in the neighborhood may temper near-term pricing power, emphasizing the importance of renovation strategy and operational execution.
- Above-median neighborhood occupancy and strong renter-occupied share support demand consistency.
- Necessities retail density (grocers, pharmacies) and regional employers bolster retention and leasing.
- 3-mile population and household growth with smaller households expands the renter pool.
- 1981 vintage offers value-add potential through system upgrades and unit renovations.
- Risk: relatively accessible ownership options and limited lifestyle amenities could cap rent growth without targeted improvements.