| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 30th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6610 Date Palm Blvd, Port Richey, FL, 34668, US |
| Region / Metro | Port Richey |
| Year of Construction | 1979 |
| Units | 34 |
| Transaction Date | 2017-06-16 |
| Transaction Price | $8,250,000 |
| Buyer | PALM GARDENS OF NEW PORT RICHEY INC |
| Seller | WINDTREE APARTMENTS INC |
6610 Date Palm Blvd Port Richey Multifamily Investment
Renter demand in the neighborhood appears durable, with a majority of housing units renter-occupied and occupancy holding near recent norms, according to WDSuite’s CRE market data. Investors screening the Tampa–St. Petersburg–Clearwater metro may view this Inner Suburb location as a steady, workforce-oriented play.
Located in Port Richey within the Tampa–St. Petersburg–Clearwater metro, the neighborhood posts a C+ rating and is competitive among 710 metro neighborhoods on several daily-needs metrics. Grocery and pharmacy access stands out (both ranking near the top among 710 neighborhoods and in the top decile nationally), while restaurants are plentiful. By contrast, cafés, parks, and childcare options are sparse, which may shape resident expectations around on-site amenities.
Neighborhood occupancy is about 91% with a slight five‑year uptick, suggesting reasonably stable leasing conditions. Importantly for multifamily depth, 51.8% of housing units are renter-occupied (among the higher shares metro-wide), indicating a broad tenant base that can support absorption and renewal activity through cycles.
Within a 3‑mile radius, population and household counts have grown and are projected to continue expanding, pointing to a larger tenant pool over the medium term. Forecasts indicate further household growth alongside smaller average household sizes, which typically supports sustained demand for rental units and occupancy stability.
Home values in the neighborhood sit below national norms, and the rent‑to‑income profile indicates moderate affordability pressure relative to many U.S. submarkets. For investors, that context can aid retention and measured pricing power, though ownership alternatives may create some competitive tension at certain rent bands. These dynamics, based on CRE market data from WDSuite, frame a practical, workforce-oriented leasing environment rather than a luxury-driven one.
Neighborhood‑level safety metrics are not published in WDSuite for this location. Investors typically benchmark conditions against city and county trend sources and evaluate asset‑level measures (lighting, access control, and visibility) alongside local comparables to understand how safety perceptions may influence leasing and retention.
Regional employment anchors within commuting distance help support renter demand and retention, with concentrations in financial services, healthcare, and technology. Nearby employers include Raymond James, Wellcare Health Plans, MetLife Insurance, Tech Data, and Raymond James Financial.
- Raymond James — financial services offices (17.9 miles)
- Wellcare Health Plans — healthcare insurance (19.6 miles) — HQ
- MetLife Insurance Company — insurance (22.7 miles)
- Tech Data — technology distribution (25.1 miles) — HQ
- Raymond James Financial — financial services (27.3 miles) — HQ
Built in 1979, this 34‑unit asset is slightly older than the neighborhood’s average vintage, presenting clear value‑add and capital planning opportunities to improve competitive positioning against newer stock. Neighborhood occupancy has trended steady around the low‑90s, and the renter‑occupied share above half of units indicates a sizable tenant base for leasing continuity. According to CRE market data from WDSuite, daily‑needs access is a relative strength (notably grocery, pharmacy, and restaurants), supporting resident convenience.
Within a 3‑mile radius, population and households have increased and are forecast to keep rising, pointing to ongoing renter pool expansion that can support occupancy stability. At the same time, lower home values compared with national norms suggest some competition from ownership at certain price points, warranting disciplined rent setting and amenity upgrades to reinforce value.
- Stable neighborhood occupancy and a high renter-occupied share support leasing durability.
- 1979 vintage offers value‑add potential through selective renovations and system upgrades.
- Strong daily‑needs access (grocery, pharmacy, restaurants) enhances resident convenience and retention.
- 3‑mile population and household growth underpin a larger tenant base over the next several years.
- Risk: more accessible ownership options in the area could cap rent growth without amenity and service differentiation.