| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 30th | Poor |
| Amenities | 48th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8601 Wagon Trl, Port Richey, FL, 34668, US |
| Region / Metro | Port Richey |
| Year of Construction | 1985 |
| Units | 21 |
| Transaction Date | 2012-02-29 |
| Transaction Price | $220,000 |
| Buyer | WINDTREE TIC PARTICIPANT 1 LLC |
| Seller | WINDTREE APARTMENTS OF PASCO INC |
8601 Wagon Trl, Port Richey FL Multifamily Investment
Occupancy in the surrounding neighborhood has trended above the metro median, supporting stable renter demand, according to WDSuite’s CRE market data. Daily-needs retail density is strong nearby, which can aid retention and leasing consistency.
Port Richey’s inner-suburb location offers practical renter appeal: neighborhood occupancy is above the metro median among 710 Tampa–St. Petersburg–Clearwater neighborhoods, indicating steady leasing conditions at the neighborhood level rather than the property itself. Renter-occupied housing comprises a top-quartile share within the metro, pointing to a deep tenant base and durable multifamily demand.
Amenity access skews toward everyday convenience. Grocery stores and pharmacies score in the mid‑90s to high‑90s national percentiles, while restaurant density is also strong. Lifestyle amenities such as cafes and parks are comparatively limited, so the area reads more as workforce housing with reliable daily services than a destination for entertainment-driven renters.
Home values sit in the lower national percentiles, creating an ownership market that is relatively accessible. For investors, that can introduce competition from entry-level ownership but also supports value-oriented rental positioning and potential lease retention where rent-to-income ratios are comparatively modest at the neighborhood level.
Within a 3‑mile radius, population and households have grown over the past five years, and WDSuite’s data indicates further household expansion in the forecast period. This widening household base suggests a larger tenant pool and supports occupancy stability for well-managed assets.
Comparable neighborhood crime statistics are not available in WDSuite for this location. Investors typically benchmark local safety using city and county reporting and consider trends relative to the broader Tampa–St. Petersburg–Clearwater metro when underwriting.
Nearby corporate employers provide a diversified employment base and reasonable commute sheds that can support renter demand and retention, including Raymond James, Wellcare Health Plans, MetLife, Tech Data, and Jabil Circuit.
- Raymond James — corporate offices (17.8 miles)
- Wellcare Health Plans — corporate offices (19.5 miles) — HQ
- MetLife Insurance Company — insurance (22.6 miles)
- Tech Data — technology distribution (25.1 miles) — HQ
- Jabil Circuit — manufacturing (28.7 miles) — HQ
This 21‑unit Port Richey asset benefits from neighborhood fundamentals that favor stable multifamily operations: above‑median occupancy among Tampa–St. Petersburg–Clearwater neighborhoods, a top‑quartile renter concentration within the metro, and strong daily-needs retail coverage. Together, these factors point to dependable leasing and a broad tenant base rather than discretionary, amenity‑driven volatility. Based on commercial real estate analysis from WDSuite, rent levels align with comparatively modest rent-to-income ratios locally, which can support retention while allowing disciplined pricing moves as improvements are executed.
Demand tailwinds are reinforced by 3‑mile radius growth and a forecast for further household expansion, which implies more renters entering the market and supports occupancy stability. Counterbalancing these strengths, relatively accessible ownership costs may create competition with entry‑level buying, and the amenity mix leans toward essentials over lifestyle, which could temper premium positioning without targeted upgrades.
- Above‑median neighborhood occupancy supports stable leasing
- Top‑quartile renter concentration in the metro indicates a deep tenant base
- Strong grocery/pharmacy access and restaurant density aid day‑to‑day livability
- 3‑mile household growth and forecasts point to ongoing renter pool expansion
- Risk: relatively accessible ownership and limited lifestyle amenities may cap premium rent strategy without upgrades