| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 63rd | Good |
| Demographics | 25th | Poor |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5290 70th Ave N, Pinellas Park, FL, 33781, US |
| Region / Metro | Pinellas Park |
| Year of Construction | 1974 |
| Units | 72 |
| Transaction Date | 1995-09-14 |
| Transaction Price | $1,080,000 |
| Buyer | FAMTRUS INC |
| Seller | K C RENTALS LTD |
5290 70th Ave N, Pinellas Park FL Multifamily Investment
Neighborhood fundamentals point to steady renter demand and solid occupancy, according to WDSuite’s CRE market data. Positioning within the Tampa–St. Petersburg–Clearwater metro offers diversified employment access and room for value creation.
This Inner Suburb neighborhood earns a B rating and ranks above the metro median (294 out of 710 Tampa–St. Petersburg–Clearwater neighborhoods), indicating balanced livability with investor-relevant stability. Neighborhood occupancy is in the top quartile locally with a national standing above average, a constructive signal for maintaining leased units over time based on CRE market data from WDSuite.
Day-to-day amenities are a relative strength: grocery and pharmacy access are strong compared with national peers, and dining density is competitive. Park access is limited, which may modestly temper outdoor-recreation appeal, but the overall amenity mix still supports resident convenience.
The neighborhood skews more owner-occupied with an estimated 30.6% of housing units renter-occupied. For multifamily investors, this indicates a defined but not saturated renter pool—often supportive of demand stability without excessive competitive supply from nearby rentals.
Within a 3-mile radius, demographics show recent population and household counts trending slightly upward, with projections calling for additional household growth through 2028. A growing household base and a gradual shift toward higher-income brackets suggest a larger tenant base over time, which can support occupancy stability and measured rent performance.
Home values sit in a higher-cost ownership context relative to local incomes (nationally elevated value-to-income positioning). That backdrop can reinforce renter reliance on multifamily housing and aid lease retention, while a moderate rent-to-income profile helps manage affordability pressure and supports ongoing leasing.
The local construction year average trends around 1980. This property’s 1974 vintage is older than the neighborhood norm, which points to potential capital planning needs but also value-add or renovation upside to compete against newer stock.
Safety trends are comparatively favorable for investors evaluating tenant retention risk. The neighborhood is competitive within the Tampa–St. Petersburg–Clearwater metro, landing in the top quartile among 710 neighborhoods, and it sits modestly above the national median for safety.
Recent momentum is constructive: both property and violent offense rates have declined year over year, with improvement metrics ranking well against national peers. While conditions can vary by block and over time, the directional trend supports a stable operating outlook relative to many urban and inner-suburban areas.
Proximity to established employers underpins workforce housing demand and commute convenience, led by electronics manufacturing, financial services, IT distribution, and managed care.
- Jabil Circuit — electronics manufacturing (3.7 miles)
- Jabil Circuit — electronics manufacturing (4.2 miles) — HQ
- Raymond James Financial — financial services (4.3 miles) — HQ
- Tech Data — IT distribution (5.7 miles) — HQ
- Wellcare Health Plans — managed care (16.7 miles) — HQ
5290 70th Ave N offers investors a 72-unit footprint in Pinellas Park with neighborhood occupancy positioned in the top quartile locally and above national averages, supporting an income-focused thesis. The surrounding area’s amenity access is strong for daily needs, while a higher-cost ownership market tends to sustain rental demand and aid lease retention. According to CRE market data from WDSuite, the renter base is defined rather than saturated, which can limit competitive pressures while preserving depth of demand.
Built in 1974, the asset is older than the area’s average vintage, creating potential for targeted capital improvements and value-add programming to enhance competitiveness. Within a 3-mile radius, population and households are projected to expand through 2028, pointing to a larger tenant base that can support occupancy stability and measured rent growth over the hold.
- Occupancy strength: neighborhood sits in the metro’s top quartile, aligning with steady leasing conditions.
- Demand drivers: proximity to diversified employers supports workforce housing and retention.
- Affordability and pricing power: elevated ownership costs reinforce renter reliance, while moderate rent-to-income aids renewals.
- Value-add angle: 1974 vintage suggests renovation and system upgrades can improve positioning versus newer stock.
- Key watch items: older systems imply capex planning; limited park access and a smaller renter concentration warrant targeted marketing and amenity strategy.