| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 26th | Poor |
| Demographics | 25th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 6000 Village Walk, Zephyrhills, FL, 33542, US |
| Region / Metro | Zephyrhills |
| Year of Construction | 1989 |
| Units | 43 |
| Transaction Date | 2016-09-01 |
| Transaction Price | $1,815,900 |
| Buyer | HALLMARK VILLAGE WALK LLC |
| Seller | VILLAGE WALK OF ZEPHYRHILLS LTD |
6000 Village Walk Zephyrhills Multifamily Investment
Neighborhood occupancy has trended upward in recent years, according to WDSuite’s CRE market data, suggesting improving stability around the asset even as amenity density remains limited. These signals reflect the surrounding neighborhood, not the property, and point to steady renter demand supported by broader Tampa metro dynamics.
Positioned in Zephyrhills within the Tampa–St. Petersburg–Clearwater metro, the asset sits in an inner-suburban neighborhood with modest amenity density and a below-median neighborhood rating versus metro peers. While nearby cafes, groceries, and parks are sparse compared with many Tampa neighborhoods, day-to-day needs are accessible within the broader trade area, and most residents rely on short drives for services.
The property’s 1989 vintage is newer than the neighborhood’s average construction year (1981), which can support leasing competitiveness versus older stock. Investors should plan for modernization of systems and finishes typical of late-1980s assets, with potential value-add upside through targeted interior and common-area updates.
Renter-occupied housing share in the immediate neighborhood is relatively low, implying a thinner base of multifamily households. However, demographics aggregated within a 3-mile radius show population and household growth over the last five years, with forecasts through 2028 indicating further increases and rising median incomes. This broader catchment expansion supports a larger tenant base and can aid occupancy stability for well-positioned communities.
Home values in the area are lower than many national markets, which can create some competition from ownership options. At the same time, rent-to-income levels in the neighborhood sit in a manageable range, reinforcing lease retention for appropriately priced units and offering room for operational focus on renewals rather than aggressive turnover.
Comparable neighborhood crime metrics are limited in the current WDSuite dataset for this location, so investors should rely on trend-based, city and county sources for validation and conduct standard on-the-ground diligence (e.g., drive-bys at different times and discussions with local property managers). Use comparative framing against nearby Tampa metro neighborhoods to contextualize any findings, rather than block-level conclusions.
Area employment is diversified across insurance, supermarkets, financial services, and healthcare management, supporting workforce housing demand and commute convenience for residents. The following nearby employers help underpin the regional renter base:
- MetLife Insurance Company — insurance (14.9 miles)
- Publix Super Markets — corporate offices (19.2 miles) — HQ
- Raymond James — financial services (23.0 miles)
- Wellcare — managed care (27.3 miles)
- Wellcare Health Plans — managed care (27.4 miles) — HQ
The investment case centers on a late-1980s asset in an inner-suburban Zephyrhills location where the immediate neighborhood shows gradually improving occupancy trends and a low but steady renter base. According to CRE market data from WDSuite, the surrounding neighborhood has seen occupancy improve over the past five years, while the 3-mile area is experiencing population and household growth with rising incomes—factors that can broaden the tenant pool and support leasing stability.
Built in 1989, the property presents a practical value-add path through modernization to outperform nearby older stock. While local amenity density is limited and ownership options are comparatively accessible, disciplined pricing and resident retention strategies can capture demand from the expanding workforce tied to regional employers and continued metro-scale growth.
- Late-1980s vintage allows targeted renovations for competitive positioning against older supply
- 3-mile population and household growth expand the renter pool, supporting occupancy stability
- Rising household incomes enhance rentability for well-priced units and renewals
- Proximity to diversified regional employers supports consistent workforce housing demand
- Risks: limited neighborhood amenities and competition from ownership options require careful pricing and retention execution