| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 67th | Best |
| Demographics | 73rd | Best |
| Amenities | 77th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 211 S Prospect Ave, Clearwater, FL, 33756, US |
| Region / Metro | Clearwater |
| Year of Construction | 1985 |
| Units | 50 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
211 S Prospect Ave Clearwater Multifamily Investment
Neighborhood-level amenities and income profiles point to steady renter demand in Clearwater, according to WDSuite’s CRE market data, with home values that favor continued reliance on rentals rather than ownership.
Positioned in Clearwater within the Tampa–St. Petersburg–Clearwater metro, the property benefits from a neighborhood rated A+ and ranked 20 out of 710 metro neighborhoods, indicating competitive standing among local peers. Amenity access trends are favorable: restaurants and daily-needs retail test in the top quartile nationally, while parks and pharmacies are also strong, helping support day-to-day livability and leasing velocity. Cafés are relatively sparse, but grocery access is robust, which typically matters more for weekly convenience.
The surrounding housing stock skews suburban with construction patterns similar to the metro’s mid-1980s vintage. With a renter-occupied share around one-third at the neighborhood level, the tenant base is meaningful yet not saturated; this mix can help sustain demand for well-positioned apartments while limiting excessive new-lease churn. In a high-cost ownership context (home values testing in the 90th percentile nationally and a value-to-income ratio near the top decile), rental options often retain appeal and support pricing power for appropriately finished product.
Demographic statistics within a 3-mile radius show modest population growth historically and projections for further increases in both households and incomes through the next five years. Rising median incomes alongside forecast rent growth point to an expanding renter pool and the potential to support rent levels without overextending residents’ budgets. Neighborhood rent-to-income readings are comparatively favorable, reinforcing lease retention and occupancy stability based on commercial real estate analysis from WDSuite.
One caution for underwriters: overall housing occupancy at the neighborhood level reads below metro averages, suggesting some slack in the local housing market. For multifamily operators, that reinforces the importance of competitive finishes, targeted marketing, and amenity positioning to capture share from nearby alternatives.
Safety indicators for the neighborhood sit below both metro and national medians, with the area ranking in the lower tiers among the 710 metro neighborhoods and testing around the lower national percentiles. Recent year-over-year readings also show upticks in both property and violent offenses. While crime patterns can vary by block and over time, investors should plan for standard security practices and thoughtful site activation to support resident comfort.
Compared with higher-ranked parts of the Tampa–St. Petersburg–Clearwater region, the neighborhood’s safety profile is a relative weakness. Operators typically address this through lighting, access controls, and resident engagement, and by emphasizing the location’s convenience and amenity access in marketing to sustain leasing performance.
The employment base features several nearby corporate headquarters and major offices, supporting renter demand via short commutes and diversified white-collar payrolls. Notably, Tech Data, Raymond James Financial, Jabil, and Wellcare Health Plans are within a typical commuting shed.
- Tech Data — corporate offices (6.1 miles) — HQ
- Raymond James Financial — corporate offices (9.4 miles) — HQ
- Jabil Circuit — corporate offices (11.1 miles) — HQ
- Wellcare Health Plans — corporate offices (15.7 miles) — HQ
This 50-unit asset, built in 1985, aligns with the neighborhood’s mid-1980s vintage, offering a competitive baseline versus older stock while leaving room for targeted modernization to drive rents and retention. Amenity access is a core strength (restaurants, parks, grocery, and pharmacies test well against national peers), and the ownership market’s elevated home values tend to reinforce reliance on rentals. According to CRE market data from WDSuite, the neighborhood’s rent-to-income profile supports occupancy durability, even as operators should remain mindful of local competition.
Within a 3-mile radius, population and household counts are projected to rise alongside higher incomes, expanding the renter pool and supporting higher-quality renovations. The renter concentration at the neighborhood level is moderate, which can temper turnover while still providing depth for lease-up—though below-metro housing occupancy suggests execution matters, particularly on finishes and marketing. Security and property management practices remain important given the area’s safety readings.
- Mid-1980s construction offers value-add and modernization potential for rent and retention gains.
- Strong daily-needs and recreation access supports livability and leasing momentum.
- High-cost ownership landscape reinforces renter reliance and pricing power for competitive product.
- 3-mile population, household, and income growth expands the tenant base for stabilized operations.
- Risks: below-metro housing occupancy and weaker safety metrics require strong management and amenity positioning.