| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 26th | Poor |
| Demographics | 25th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 39045 North Ave, Zephyrhills, FL, 33542, US |
| Region / Metro | Zephyrhills |
| Year of Construction | 1989 |
| Units | 43 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
39045 North Ave Zephyrhills Multifamily Investment
Stabilization and value-add potential in an inner-suburban Pasco County location, supported by modest rent levels and a predominantly owner-occupied housing base in the surrounding neighborhood, according to WDSuite’s CRE market data.
Located in Zephyrhills within the Tampa–St. Petersburg–Clearwater metro, the neighborhood rates D and sits below the metro median on most CRE fundamentals. Local amenity density is limited inside the immediate neighborhood, so residents typically rely on nearby Zephyrhills corridors and regional retail for daily needs. For investors, this points to a renter profile valuing practical access and price point over walkable lifestyle amenities.
Neighborhood rents benchmark below national medians and the area s occupancy has improved over the last five years but remains softer than the metro. This suggests room for operational upside through leasing execution and targeted renovations rather than pure rent-driven growth. Use careful underwriting on lease-up timelines and seasonality.
The share of renter-occupied housing units in the neighborhood is on the lower side, indicating a predominantly owner-occupied area. For multifamily operators, that typically translates to a thinner but steadier tenant base with less direct apartment competition, and it can support retention when units are positioned as reliable, more accessible rental options.
Within a 3-mile radius, population and households have grown in recent years with further increases projected by 2028, signaling gradual renter pool expansion and support for occupancy stability. Income measures in the 3-mile radius are rising as well, which can aid collections and renewal rates. Home values in the neighborhood track below national norms, which can introduce some competition from entry-level ownership; positioning on convenience, product quality, and total cost-to-rent remains important for lease retention and pricing discipline. This analysis is based on WDSuite s multifamily property research for the neighborhood and surrounding trade area.
Comparable neighborhood-level crime metrics are not available in this dataset. Investors should evaluate city and county trend reports and property-level security measures to gauge relative risk and potential operating impacts. Use regional benchmarks and historical trend reviews rather than block-level assumptions.
Regional employment is anchored by insurance, grocery retail headquarters, financial services, healthcare plans, and advanced manufacturing within commuting range, supporting renter demand through a diversified wage base and reasonable drive-times.
- MetLife Insurance Company insurance (14.8 miles)
- Publix Super Markets grocery retail (19.3 miles) HQ
- Raymond James financial services (22.96 miles)
- Wellcare Health Plans healthcare plans (27.36 miles) HQ
- Jabil Circuit electronics manufacturing (39.03 miles) HQ
Built in 1989, the 43-unit asset is newer than the neighborhood s average vintage, offering competitive positioning versus older local stock while still leaving room for selective system updates and cosmetic upgrades. Neighborhood occupancy has trended upward but trails the metro, framing a clear operational thesis: focus on capturing steady demand from a largely owner-occupied area with value-forward units and disciplined leasing. According to CRE market data from WDSuite, rent levels in the neighborhood sit below national norms, which supports absorption at accessible price points but limits near-term pricing power.
Within a 3-mile radius, population and household growth, coupled with rising incomes, point to a gradually expanding tenant base and support for occupancy stability. Lower ownership costs in the broader area may nudge some households toward buying, so multifamily success will rely on creating a convenience and quality proposition that retains residents and sustains cash flow through cycles.
- 1989 construction offers competitive positioning versus older neighborhood stock with targeted value-add upside
- Gradual renter pool expansion within 3 miles supports leasing and occupancy stability over time
- Below-national rent levels aid absorption and renewal potential at accessible price points
- Diversified regional employers within commuting range underpin demand across cycles
- Risk: softer neighborhood occupancy and accessible homeownership require disciplined pricing and retention strategies