| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 48th | Poor |
| Demographics | 54th | Good |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1167 Turner St, Clearwater, FL, 33756, US |
| Region / Metro | Clearwater |
| Year of Construction | 1991 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1167 Turner St Clearwater Multifamily Investment Opportunity
Neighborhood renter demand is supported by nearby employment and daily-needs access, according to WDSuite’s CRE market data, though broader area occupancy trends should be underwritten conservatively. This asset’s Clearwater location offers stable fundamentals for disciplined operators focused on resident retention.
Situated in an Inner Suburb of the Tampa–St. Petersburg–Clearwater metro, the area around 1167 Turner St benefits from strong daily-needs access. Grocery density ranks among the stronger pockets in the region (high national percentile), and restaurant options are comparatively plentiful, while parks, pharmacies, cafés, and childcare are thinner locally. For investors, this mix supports day-to-day livability even if lifestyle amenities are more dispersed.
Neighborhood-level occupancy runs on the lower end among 710 Tampa–St. Petersburg–Clearwater neighborhoods and sits in a low national percentile, signaling a need for conservative lease-up and renewal assumptions. Counterbalancing that, the neighborhood shows a high renter concentration (near the top quartile nationally for the share of housing units that are renter-occupied), which indicates depth in the tenant base for workforce-oriented product and can support leasing velocity with the right unit positioning and management.
Construction vintage skews slightly older locally, and this property was built in 1991. Being newer than the neighborhood average (1985) offers relative competitiveness versus older stock, though investors should still plan for system updates and selective modernization to meet current renter expectations.
Within a 3-mile radius, demographics point to a steady renter pool: population and households have grown and are projected to continue expanding over the next five years, with incomes trending higher and contract rents rising from recent baselines. This trajectory, based on CRE market data from WDSuite, supports occupancy stability and measured pricing power for pragmatic operators. At the same time, a moderate rent-to-income profile suggests watching affordability pressure to maintain retention.
Home values in the immediate neighborhood sit below major coastal market levels, implying a more accessible ownership landscape relative to high-cost metros. For multifamily owners, that can create some competition with entry-level ownership, but it also reinforces the role of well-managed rental housing that offers convenience to jobs and services as a compelling alternative for many households.
Safety indicators are mixed and warrant standard operating diligence. The neighborhood’s crime rank places it below the metro median (ranked 471 out of 710 metro neighborhoods), and national comparisons put overall safety in a lower percentile. Property-related incidents benchmark in a weaker national percentile, while violent offense rates sit below the national midpoint but remain a consideration for resident experience and insurance planning. Notably, violent offense rates have improved year over year, indicating a favorable directional trend.
Investors should evaluate property-level security measures, lighting, and visibility, and compare recent police blotter and insurer feedback against submarket peers. Framing safety relative to adjacent Clearwater areas and the broader Tampa–St. Petersburg–Clearwater region can help calibrate underwriting assumptions and operating plans without over-relying on block-level variation.
Proximity to established corporate employers supports renter demand through commute convenience and a diversified white-collar employment base. Nearby anchors include Tech Data, Raymond James Financial, Jabil, and Wellcare Health Plans.
- Tech Data — technology distribution (5.8 miles) — HQ
- Raymond James Financial — financial services (9.0 miles) — HQ
- Jabil Circuit — electronics manufacturing (10.8 miles) — HQ
- Wellcare Health Plans — managed care (15.6 miles) — HQ
The investment case centers on durable renter demand, proximity to major employment nodes, and relative competitiveness versus older neighborhood stock. Built in 1991, the property can benefit from targeted renovations and system updates to enhance leasing appeal against 1980s-vintage comparables. According to CRE market data from WDSuite, the surrounding neighborhood has a high share of renter-occupied housing units and strong grocery/restaurant access, which supports day-to-day livability and retention even as overall neighborhood occupancy sits below metro averages.
Within a 3-mile radius, population and household counts are growing and are projected to expand further, with incomes trending higher and contract rents moving upward over the medium term. This outlook suggests a larger tenant base and supports occupancy stability, particularly for smaller floorplans; the asset’s compact average unit sizes can position it competitively for efficiency-minded renters while maintaining price points aligned with local rent-to-income dynamics. Key risks include neighborhood-level occupancy softness, below-average school ratings, and safety metrics that warrant prudent operating plans.
- 1991 vintage offers relative edge over older stock with value-add and system modernization potential
- High renter concentration and nearby employers support leasing velocity and retention
- 3-mile demographics show growing households and rising incomes, bolstering the tenant base
- Compact average unit sizes align with efficiency demand and help manage rent-to-income
- Risks: submarket occupancy softness, lower school ratings, and safety metrics require conservative underwriting and active management