| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Poor |
| Demographics | 22nd | Poor |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 21 N Evergreen Ave, Clearwater, FL, 33755, US |
| Region / Metro | Clearwater |
| Year of Construction | 1972 |
| Units | 20 |
| Transaction Date | 2003-06-27 |
| Transaction Price | $920,000 |
| Buyer | BARANEK ELZBIETA |
| Seller | BARANEK ZENON |
21 N Evergreen Ave Clearwater Multifamily Opportunity
Renter concentration is high at the neighborhood level, supporting a deeper tenant base even as local occupancy trends require active leasing management, according to WDSuite’s CRE market data. Proximity to job centers across Tampa–St. Petersburg helps underpin steady renter demand.
Located in an Inner Suburb of Clearwater within the Tampa–St. Petersburg–Clearwater metro, the neighborhood scores a C and sits below the metro median overall (ranked 505 out of 710 neighborhoods). For investors, this points to a working-class area with demand driven by proximity to employment and services rather than premium positioning.
Daily-needs access is a relative strength: grocery and pharmacy density ranks among the top quartile nationally, with restaurants similarly abundant. In contrast, parks and cafes are sparse, so lifestyle appeal skews toward convenience over leisure amenities. This mix can support stable workforce housing demand but may limit top-of-market rent positioning.
Renter-occupied share in the neighborhood is high (ranked 30 of 710 in the metro; top percentile nationally), signaling a broad tenant pool and persistent multifamily demand. Neighborhood occupancy is below the metro median, so underwriting should assume thoughtful leasing and resident retention programs to sustain performance.
Within a 3-mile radius, demographics indicate modest recent population growth with a larger increase in households, implying smaller household sizes and steady demand for rental units. Forward-looking data suggests renter pool expansion by 2028 alongside rising incomes and higher asking rents, supporting long-term absorption potential based on CRE market data from WDSuite. Homeownership costs in surrounding submarkets remain elevated relative to local incomes, which can reinforce reliance on multifamily options and aid lease retention.
Safety metrics sit below metro and national averages. The neighborhood’s crime ranking is in the lower-performing cohort locally (ranked 525 out of 710 metro neighborhoods), and national safety percentiles are also on the lower side. Property offenses are more elevated than violent incidents, which remain comparatively lower but still below national norms. Investors often respond with pragmatic measures such as lighting, access control, and resident engagement to support retention and leasing stability over time.
Nearby headquarters and corporate campuses in technology and financial services diversify the employment base and support renter demand through commute convenience. Key nearby employers include Tech Data, Raymond James Financial, Jabil Circuit, and Wellcare Health Plans.
- Tech Data — technology distribution (5.6 miles) — HQ
- Raymond James Financial — financial services (8.9 miles) — HQ
- Jabil Circuit — electronics manufacturing (10.6 miles) — HQ
- Wellcare Health Plans — healthcare insurance (14.8 miles) — HQ
This 20-unit property, built in 1972, competes in a workforce-oriented submarket with strong renter concentration and convenient access to major employers. The vintage suggests potential value-add through targeted renovations and systems updates, while smaller average unit sizes can support competitive effective rents and wider affordability reach. Neighborhood occupancy sits below the metro median, so operational execution will matter, but the area’s renter depth and service-rich retail mix provide a durable demand foundation.
According to CRE market data from WDSuite, neighborhood-level NOI per unit trends run below national norms and safety metrics are weaker than average, underscoring the importance of disciplined expense control and security planning. At the same time, 3-mile demographics point to population growth, a notable increase in households by 2028, and rising incomes alongside higher projected asking rents—factors that can support leasing, rent progression, and long-term cash flow durability.
- Workforce-demand location with high renter concentration supporting a broad tenant base
- 1972 vintage offers value-add and modernization upside to enhance competitiveness
- Service-rich retail environment and proximity to major employers support retention and leasing
- 3-mile outlook shows population and household growth, reinforcing long-term multifamily demand
- Risk: below-metro neighborhood occupancy and weaker safety metrics require focused operations and security planning