| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 32nd | Poor |
| Amenities | 60th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5946 54th Ave N, Kenneth City, FL, 33709, US |
| Region / Metro | Kenneth City |
| Year of Construction | 1972 |
| Units | 84 |
| Transaction Date | 2006-05-22 |
| Transaction Price | $524,000 |
| Buyer | ARENA NG LLC |
| Seller | HALT LLC |
5946 54th Ave N, Kenneth City Multifamily Investment
Neighborhood occupancy has trended upward and rents are competitive for the submarket, according to WDSuite’s CRE market data. These dynamics suggest steady renter demand at the area level rather than at the property level.
Situated in Kenneth City within the Tampa–St. Petersburg–Clearwater metro, the neighborhood shows balanced fundamentals for workforce-oriented multifamily. Grocery, parks, and dining availability index well — grocery and restaurant density rank in the top decile nationally — supporting day-to-day convenience that underpins leasing and retention. Neighborhood standing is above the metro median (rank 376 of 710; B- rating), indicating competitive positioning among inner-suburban peers.
Renter-occupied housing accounts for a modest share of units locally (neighborhood renter concentration noted around the metro median), which points to a diversified housing base and a tenant pool that supports stability more than rapid turnover. Neighborhood occupancy has improved over the past five years; investors should read this as a neighborhood metric, not a property statistic.
Within a 3-mile radius, demographics indicate a larger and gradually expanding renter pool ahead, with population and households projected to grow over the next five years. A slight downshift in average household size accompanies that growth, typically supportive of demand for multifamily units and smaller floorplans. This context, paired with rising incomes in the trade area, supports sustained leasing velocity.
Ownership costs trend above the national median, and the neighborhood’s value-to-income ratio sits in the upper half nationally, which tends to reinforce reliance on rentals and supports pricing power. At the same time, rent-to-income levels remain manageable by national comparisons, a mix that can aid renewal rates and reduce turnover risk. These takeaways are based on commercial real estate analysis from WDSuite’s datasets.
Safety indicators are mixed relative to national and metro baselines. The neighborhood’s safety rank is below the metro median (rank 485 of 710), placing it in a weaker cohort locally; nationally, the area sits in lower safety percentiles. However, recent trends show improvement in violent incident rates year over year, signaling directional progress even as overall safety remains a watch item.
Investors should underwrite with realistic expectations: consider security, lighting, and property management practices appropriate for an inner-suburban location where safety metrics trail metro averages but show improving momentum.
Proximity to major employers supports commute convenience and renter retention, particularly for households tied to electronics manufacturing, financial services, IT distribution, and managed care. The following nearby employers anchor demand within typical daily drive times.
- Jabil Circuit — electronics manufacturing (4.8 miles)
- Raymond James Financial — financial services (5.5 miles) — HQ
- Tech Data — IT distribution (6.7 miles) — HQ
- Wellcare Health Plans — managed care (17.9 miles) — HQ
This 84-unit asset with average unit sizes near 815 sf benefits from neighborhood-level occupancy gains and strong daily-needs amenities (grocery, parks, and restaurants index well nationally). A moderate renter-occupied share suggests a stable tenant base, while ownership costs above national medians typically sustain reliance on rentals and support pricing power. According to CRE market data from WDSuite, local rents sit competitively for the metro, which can aid renewal rates when paired with prudent lease management.
Within a 3-mile radius, forecasts point to population growth and a notable increase in households over the next five years, implying a larger tenant base and support for occupancy. While school quality and safety metrics are softer than metro averages, recent improvement in violent incident rates and a diversified employer base nearby help balance the risk profile for long-term investors focused on operations and selective upgrades.
- Neighborhood occupancy improvement supports stability at the area level
- Strong daily-needs access (grocery, parks, dining) underpins retention
- Ownership costs above national medians reinforce rental demand and pricing power
- 3-mile radius shows population and household growth, expanding the tenant base
- Risk: safety and school metrics trail metro averages; plan for active management