| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 27th | Poor |
| Demographics | 22nd | Poor |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 38906 North Ave, Zephyrhills, FL, 33542, US |
| Region / Metro | Zephyrhills |
| Year of Construction | 1976 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
38906 North Ave Zephyrhills Multifamily Investment
Household growth within a 3-mile radius and below-national rent levels point to steady renter demand and manageable affordability, according to WDSuite’s CRE market data. Investors should view this as a value-oriented play supported by local services and regional employment access.
Zephyrhills offers everyday convenience that supports leasing: grocery access ranks strong locally (ranked 127th out of 710 metro neighborhoods) and pharmacies are even more accessible (58th of 710), while restaurants are competitive among Tampa–St. Petersburg–Clearwater neighborhoods (151st of 710). Parks, cafes, and childcare are limited nearby, so amenities skew toward essentials rather than lifestyle offerings.
The neighborhood’s renter-occupied share is roughly one-third, indicating a defined tenant base without being heavily renter-concentrated. Median rents in the neighborhood sit below national norms, which can help pricing resilience and retain tenants during renewals, while the rent-to-income profile indicates moderate affordability that supports occupancy management.
Within a 3-mile radius, population and households have grown and are projected to continue increasing, expanding the prospective renter pool. Forecasts point to additional household gains over the next five years, suggesting more renters entering the market and supporting leasing stability even as homeownership remains prevalent.
School ratings trail national averages, which may limit family-driven demand relative to top-ranked suburban submarkets. The average construction vintage in the immediate area is older; this property’s 1976 delivery is newer than much of the surrounding stock, providing relative competitiveness versus older assets, though investors should still plan for system upgrades and selective modernization to meet today’s expectations.
Neighborhood safety indicators compare favorably at the national level. Overall crime positioning is above the national midpoint, and violent-offense readings are in the top decile nationwide, which supports resident retention and leasing. Property-crime indicators are also comparatively strong, though recent year-over-year readings show some volatility; investors should monitor trends over time rather than single-year swings.
These figures reflect neighborhood-level patterns rather than property-specific conditions and are benchmarked against other neighborhoods nationally and within the Tampa–St. Petersburg–Clearwater metro (710 neighborhoods in total). Trend direction and local management practices will remain key to in-place performance.
Regional employers within commuting range provide a diversified white-collar and services employment base that can support renter demand and retention, including insurance, grocery HQ operations, and healthcare. The list below reflects notable names by proximity.
- MetLife Insurance Company — insurance (14.6 miles)
- Publix Super Markets — corporate offices (19.3 miles) — HQ
- Raymond James — financial services (22.8 miles)
- Wellcare — healthcare services (27.1 miles)
- Wellcare Health Plans — healthcare plans (27.2 miles) — HQ
This 48-unit asset built in 1976 offers value-oriented positioning in a neighborhood with essential retail access and a defined renter base. Rents benchmark below national levels, aiding pricing power and renewal retention, while 3-mile demographics signal population and household growth that should expand the tenant pool. Based on CRE market data from WDSuite, the area’s service-oriented amenity mix and improving incomes point to steady demand, with operational upside from prudent renovations and targeted leasing.
Vintage implies planning for system modernization and selective unit updates, which can sharpen competitiveness versus older nearby stock. Key watch items include softer neighborhood occupancy relative to metro leaders, an ownership-tilted broader radius that may modestly lengthen lease-up in certain seasons, and limited lifestyle amenities. With disciplined asset management, the combination of below-national rents and a growing household base supports a durable, income-focused hold.
- Below-national rent positioning supports leasing and renewal retention
- 3-mile population and household growth expand the tenant base
- 1976 vintage offers value-add via systems upgrades and interior refresh
- Strong access to groceries, pharmacies, and restaurants aids livability
- Risks: softer neighborhood occupancy, owner-leaning submarket, and limited lifestyle amenities