| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Fair |
| Demographics | 45th | Fair |
| Amenities | 64th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3491 62nd Ave N, Pinellas Park, FL, 33781, US |
| Region / Metro | Pinellas Park |
| Year of Construction | 1983 |
| Units | 46 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3491 62nd Ave N Pinellas Park Multifamily Opportunity
Neighborhood fundamentals indicate steady renter demand and low-90s occupancy at the neighborhood level, according to WDSuite s CRE market data. Positioned in Pinellas County s inner suburbs, the asset benefits from proximity to jobs and daily amenities that support leasing stability.
This inner-suburb location in Pinellas Park carries a B+ neighborhood rating and is competitive among Tampa St. Petersburg Clearwater neighborhoods (ranked 234 of 710). For investors, that signals balanced demand drivers without paying core-urban pricing. The property s 1983 vintage is slightly older than the neighborhood s average construction year (1985), suggesting potential value-add or systems modernization to enhance competitive positioning against newer stock.
Daily-needs access is a strength: the neighborhood scores in the top quartile among 710 metro neighborhoods for overall amenities, with restaurant and grocery density at very high national percentiles. This mix typically supports retention and reduces friction in leasing, particularly for workforce households seeking convenience.
At the neighborhood level, renter-occupied housing represents roughly the upper-20s share of units, indicating a meaningful but not saturated renter base. Median rent-to-income trends are moderate, which can help sustain occupancy and reduce turnover sensitivity during pricing actions. Median home values are elevated relative to many Sun Belt suburbs yet remain below top-tier coastal markets, a context that tends to reinforce demand for multifamily over ownership in this submarket.
Demographics aggregated within a 3-mile radius show recent population growth alongside a larger increase in households and a modest decline in average household size. This pattern points to a gradually expanding tenant base and supports occupancy stability for well-located assets. Forward-looking household gains and income growth in the same radius further underpin near-term leasing while offering room for measured rent steps, based on multifamily property research from WDSuite.
Safety metrics for the neighborhood are mixed compared with nationwide benchmarks. Overall crime sits below the national median (36th percentile), indicating conditions that merit routine risk management rather than signaling a high-safety outlier. For investors, this typically calls for standard security measures and tenant-screening practices aligned with similar inner-suburb locations.
Trend signals diverge: property-related incidents show a notable year-over-year improvement, placing the neighborhood in a strong national percentile for declining property offenses. However, recent violent-offense trends moved the other direction and rank weaker versus national peers. Framing this responsibly, investors should underwrite standard security line items, consider lighting/camera upgrades during renovations, and monitor municipal trend updates as part of ongoing asset operations.
The location serves a diverse employment base with quick commutes to electronics manufacturing, financial services, IT distribution, and managed care headquarters, supporting renter demand and lease retention for workforce households. Notable nearby employers include Jabil Circuit, Raymond James Financial, Tech Data, and Wellcare Health Plans.
- Jabil Circuit — electronics manufacturing (2.8 miles)
- Jabil Circuit — electronics manufacturing (3.4 miles) — HQ
- Raymond James Financial — financial services (4.1 miles) — HQ
- Tech Data — IT distribution (6.3 miles) — HQ
- Wellcare Health Plans — managed care (16.3 miles) — HQ
The asset s submarket shows steady demand drivers and commuter access that support occupancy and leasing durability. Neighborhood occupancy trends are in the low-90s, renter-occupied share sits in the upper-20s, and 3-mile radius demographics indicate population growth with an even faster rise in households all supportive of a larger tenant base and ongoing absorption. The 1983 vintage presents a practical value-add angle through unit/interior refresh and selective systems upgrades to improve competitive standing against 2000s-era product. According to CRE market data from WDSuite, amenity density compares favorably at the neighborhood level versus national peers, reinforcing retention and day-to-day convenience.
Risk wise, the area s overall safety positioning trails national medians, and recent violent-offense trends warrant continued monitoring, even as property offenses improved year over year. The renter pool is meaningful but not dominant, which can temper velocity at premium price points; underwriting should assume disciplined leasing and targeted renovations that emphasize durability and operating efficiency.
- Inner-suburb location with strong amenity access supporting retention
- Low-90s neighborhood occupancy and expanding 3-mile household base
- 1983 vintage offers value-add through targeted interior and systems updates
- Diverse nearby employers underpin workforce housing demand and leasing stability
- Monitor below-median safety positioning and pace renovations/leasing accordingly