| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 35th | Poor |
| Amenities | 61st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4355 84th Ave N, Pinellas Park, FL, 33781, US |
| Region / Metro | Pinellas Park |
| Year of Construction | 1984 |
| Units | 82 |
| Transaction Date | 2006-01-18 |
| Transaction Price | $5,300,000 |
| Buyer | NIVORA FOUNTAINS LLC |
| Seller | PINELLAS 92 LLC |
4355 84th Ave N Pinellas Park Multifamily Investment
Neighborhood renter-occupied share is relatively high, supporting a deeper tenant base and steadier leasing compared with more ownership-heavy areas, according to WDSuite’s CRE market data.
Situated in an Inner Suburb of the Tampa–St. Petersburg–Clearwater metro, the surrounding neighborhood carries a B rating and ranks 290 out of 710 metro neighborhoods, placing it above the metro median for overall performance. Dining and daily needs are a strength: restaurant and grocery densities are competitive among metro peers and above national midpoints, while pharmacies are readily accessible. Park space and formal childcare options are limited locally, which may matter for certain renter cohorts.
Multifamily fundamentals are mixed but serviceable for workforce-oriented assets. Neighborhood occupancy is moderate, and the share of renter-occupied housing units is above the metro median, indicating depth of demand for rentals rather than ownership turnover. Median contract rents benchmark above the national midpoint, suggesting pricing room relative to comparable inner-suburban submarkets, while still competing with nearby alternatives.
Within a 3-mile radius, population has inched higher in recent years and households are projected to expand further through the mid-term, pointing to a larger tenant base and support for occupancy stability. Income trends show gains alongside rising asking rents, which can help sustain absorption, though lease management should account for varying affordability thresholds across household bands.
For investors, the combination of everyday amenities, commuter access across Pinellas County, and a renter-leaning housing mix supports ongoing demand. Elevated home values relative to incomes in the area reinforce reliance on multifamily housing, which can aid retention and reduce turnover compared with ownership entry points.
Safety indicators are mixed and should be evaluated alongside property-level controls. The neighborhood’s crime rank sits below the metro median (401 out of 710), indicating higher crime than many Tampa–St. Petersburg–Clearwater neighborhoods, and national comparisons place the area below the national midpoint for safety.
Trends diverge by offense type. Property-related incidents show a notable year-over-year improvement, ranking in the top quartile for decline among 710 metro neighborhoods, which is a constructive signal for asset operations. By contrast, recent violent-offense trends have worsened relative to peers. Investors may want to underwrite to enhanced lighting, access control, and partnership with local policing to support resident experience.
Nearby corporate anchors provide a diverse employment base that supports renter demand and commuting convenience, including financial services, electronics manufacturing, IT distribution, and healthcare plans.
- Raymond James Financial — financial services (3.0 miles) — HQ
- Jabil Circuit — electronics manufacturing (3.1 miles) — HQ
- Tech Data — IT distribution (4.8 miles) — HQ
- Wellcare Health Plans — healthcare plans (15.4 miles) — HQ
4355 84th Ave N offers exposure to an Inner Suburb location with everyday amenities, a renter-leaning housing mix, and proximity to major employers that collectively support leasing durability. Neighborhood occupancy is moderate, but the share of renter-occupied units is above the metro median, indicating a deeper tenant pool and potential for steadier absorption than ownership-heavy areas. According to CRE market data from WDSuite, rents benchmark above national midpoints in comparable neighborhoods, while elevated ownership costs in the area tend to sustain reliance on multifamily housing.
Built in 1984, the asset may benefit from targeted capital planning and value-add modernization to enhance competitive positioning against newer stock. Within a 3-mile radius, households are expected to increase over the next five years, pointing to renter pool expansion that can support occupancy and renewal performance, though underwriting should account for pockets of affordability pressure when setting rent and amenity strategies.
- Inner Suburb location with strong everyday amenities and commuter access supporting leasing
- Renter-occupied share above metro median indicates depth of tenant demand
- 1984 vintage offers value-add and modernization upside through targeted capex
- Household growth within 3 miles supports occupancy stability and renewal potential
- Risk: moderate neighborhood occupancy and affordability pressure warrant conservative rent assumptions and active lease management