| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Best |
| Demographics | 73rd | Best |
| Amenities | 59th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2565 Coachman Rd, Clearwater, FL, 33765, US |
| Region / Metro | Clearwater |
| Year of Construction | 1985 |
| Units | 72 |
| Transaction Date | 2017-11-09 |
| Transaction Price | $8,200,000 |
| Buyer | ECLECTOS LLC |
| Seller | KRI COACHMAN LLC |
2565 Coachman Rd Clearwater Multifamily Investment
Neighborhood occupancy is strong and renter demand is deep, according to WDSuite’s CRE market data, positioning this 72-unit asset for steady leasing performance in Clearwater’s inner-suburban corridor.
The property sits in an Inner Suburb of the Tampa–St. Petersburg–Clearwater metro that rates A overall (ranked 36 among 710 metro neighborhoods). Amenity access is competitive, with parks and everyday retail density placing the area in the top quartile nationally for parks and well above average for restaurants and groceries. Cafés also score high relative to U.S. neighborhoods, supporting convenient, day-to-day livability for residents.
For investors, the neighborhood’s apartment occupancy is a key strength: the area posts a high occupancy rate and sits in the upper tier both metro-wide (ranked 82 of 710) and nationally (around the 79th percentile), indicating resilient leasing conditions. The share of housing units that are renter-occupied is also elevated (about half of units; ranked 84 of 710 and ~90th percentile nationally), signaling a deep tenant base that can support absorption and renewal velocity.
Home values in the neighborhood are elevated versus national norms (around the 86th percentile), and median contract rents trend above the U.S. midpoint. In practical terms, a higher-cost ownership market tends to reinforce reliance on rental housing and can support pricing power, while the neighborhood’s rent-to-income positioning (around the national mid-pack) suggests manageable affordability pressure for lease retention.
Demographic statistics aggregated within a 3-mile radius show recent population growth alongside rising household counts and incomes, with forecasts indicating further population and household expansion over the next five years. This points to a larger renter pool and supports occupancy stability, especially for smaller-format units seeking efficient price points.
Safety metrics for the neighborhood are mixed relative to the metro and nation. The overall crime rank places the area below the metro median (504 out of 710 neighborhoods), and national comparisons indicate safety levels below the U.S. midpoint. Property crime indicators track weaker than national averages, while violent offense measures sit closer to the middle of the national distribution.
For investors, the takeaway is to underwrite security measures and tenant screening with discipline, and benchmark operating assumptions to submarket comparables rather than block-level anecdotes. Monitoring recent trend movement is prudent given year-over-year variability in reported offense rates.
Proximity to major corporate employers supports workforce housing demand and commuting convenience, with concentrations in technology distribution, financial services, electronics manufacturing, and managed care appearing within a short drive of the property.
- Tech Data — technology distribution (4.5 miles) — HQ
- Raymond James Financial — financial services (7.5 miles) — HQ
- Jabil Circuit — electronics manufacturing (9.3 miles) — HQ
- Wellcare Health Plans — managed care (11.7 miles) — HQ
This 72-unit asset built in 1985 operates within a high-occupancy Clearwater neighborhood where renter concentration is strong and everyday amenities are accessible. The vintage is slightly older than the local average stock, which suggests planning for targeted capital expenditures and presents scope for value-add upgrades that can enhance competitiveness against newer comparables. Based on commercial real estate analysis from WDSuite, neighborhood occupancy trends remain above metro medians and in the upper national tier, reinforcing the case for steady leasing.
Within a 3-mile radius, recent population and household growth — with further gains forecast over the next five years — point to a larger tenant base and support for rent durability. Elevated home values in the neighborhood relative to national norms reinforce reliance on rental housing, while mid-range rent-to-income dynamics help manage retention risk. Investors should balance these strengths against underwriting for security measures and selective amenity gaps.
- High neighborhood occupancy with above-median metro standing supports leasing stability.
- Strong renter-occupied housing share indicates depth of tenant demand.
- 1985 vintage offers value-add potential alongside prudent capital planning needs.
- 3-mile population and household growth expand the renter pool and support rent durability.
- Risk: Safety metrics trail national averages; budget for security and tenant retention strategies.