| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 30th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6641 Deeb St, Port Richey, FL, 34668, US |
| Region / Metro | Port Richey |
| Year of Construction | 1983 |
| Units | 50 |
| Transaction Date | 2017-06-01 |
| Transaction Price | $8,250,000 |
| Buyer | WINDTREE APARTMENTS OF PASCO |
| Seller | --- |
6641 Deeb St Port Richey Multifamily Investment
Neighborhood data points to steady renter demand supported by a majority of renter-occupied housing and occupancy that trends around the metro median, according to WDSuite’s CRE market data. Investors screening workforce assets in Tampa Bay’s inner suburbs may find stable leasing dynamics and manageable affordability pressure.
The property sits in an Inner Suburb of the Tampa–St. Petersburg–Clearwater metro with a neighborhood rating of C+. Within the metro’s 710 neighborhoods, this area ranks 478th, which places it below the metro median overall. Even so, renter-occupied housing is prevalent (top quartile renter concentration among 710 neighborhoods), indicating a deep tenant base that can support leasing continuity for multifamily.
Everyday amenities are a relative strength. Grocery and pharmacy access are competitive among Tampa Bay neighborhoods (both in the top decile nationally), and restaurants are abundant compared with most U.S. neighborhoods. By contrast, cafes, parks, and childcare options are limited locally, which may temper lifestyle appeal for some residents but has not historically prevented renter demand in workforce-oriented submarkets.
Rent levels benchmark around the national middle while household incomes in the neighborhood track below national medians. That mix generally supports occupancy stability but can constrain premium pricing. At the neighborhood level, occupancy trends are above the metro median, and the rent-to-income ratio sits in a low national percentile, suggesting modest affordability pressure and potential for steady retention and collections.
Demographic statistics aggregated within a 3-mile radius show recent population and household growth, with projections pointing to additional household gains and smaller average household sizes over the next five years. This dynamic typically expands the renter pool and supports absorption for practical unit formats. For investors focused on multifamily property research, these trends align with sustained demand drivers, based on CRE market data from WDSuite.
Comparable safety metrics specific to this neighborhood were not available in the current WDSuite dataset. Investors typically benchmark local conditions against broader Tampa–St. Petersburg–Clearwater trends and monitor multi-year patterns rather than single-year changes. Standard underwriting practice includes reviewing police-reported data, property-level incident logs, and resident feedback to maintain a balanced, risk-aware view.
Proximity to major employers supports a sizable workforce renter base and commute convenience from Port Richey. The following nearby corporate offices anchor regional employment and can underpin leasing stability for workforce-oriented units.
- Raymond James — financial services (17.8 miles)
- Wellcare Health Plans — healthcare insurance (19.5 miles) — HQ
- MetLife Insurance Company — insurance (22.6 miles)
- Tech Data — technology distribution (25.1 miles) — HQ
This 50-unit asset is positioned in a renter-oriented neighborhood where occupancy trends sit above the metro median and the tenant base is supported by widespread renter-occupied housing. According to CRE market data from WDSuite, local rent benchmarks are around the national middle while the rent-to-income ratio is comparatively low, which can support retention and consistent collections even as pricing power remains measured.
Within a 3-mile radius, population and household counts have grown and are projected to rise further, with smaller household sizes indicating ongoing renter pool expansion. Nearby employment nodes in the Tampa Bay area add depth to workforce demand. The area’s relatively accessible ownership costs can introduce some competition for renters, so underwriting should emphasize unit positioning, renovation scope, and value relative to local alternatives.
- Renter-heavy neighborhood and above-median metro occupancy support stable leasing
- 3-mile radius shows population and household growth, expanding the tenant base
- Everyday amenities strong (grocery, pharmacy, restaurants), aiding resident convenience and retention
- Balanced rent levels and low rent-to-income ratio indicate manageable affordability pressure
- Risk: more accessible ownership options may compete with renting; emphasize value and targeted improvements