| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Fair |
| Demographics | 70th | Best |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 150 41st Ave N, Saint Petersburg, FL, 33703, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1974 |
| Units | 33 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
150 41st Ave N, St. Petersburg 33-Unit Multifamily
Neighborhood fundamentals point to steady renter demand and a high-cost ownership market that can support pricing power, according to WDSuite’s CRE market data. Metrics cited below reflect the surrounding neighborhood, not the property itself.
Located in an inner-suburban pocket of St. Petersburg, the neighborhood scores competitive among 710 Tampa–St. Petersburg–Clearwater neighborhoods, with a B+ rating and a mix of convenience and stability. Grocery and pharmacy access rank in the national top quartile, while restaurants are even stronger, supporting day-to-day livability for residents. Based on WDSuite s multifamily property research, these access advantages can help with leasing and retention relative to less amenitized areas in the metro.
Renter-occupied housing concentration in the neighborhood is above many U.S. areas, indicating a deeper tenant base for multifamily. Within a 3-mile radius, demographic data show population growth in recent years alongside a rising household count and smaller average household sizes, trends that typically expand the renter pool and support occupancy stability over time.
Ownership costs are elevated relative to incomes locally (home values and value-to-income ratios sit in higher national percentiles), which often keeps households relying on rental options and can underpin lease retention. At the same time, neighborhood occupancy has been softer than the national median, so underwriting should assume selective concessions or modest lease-up velocity depending on positioning.
Vintage in the immediate area skews early-1970s; the subject 1974 construction is similar and may benefit from targeted value-add and systems modernization to stay competitive against newer product. Limited nearby parks and few café/childcare options suggest lifestyle trade-offs that operators can offset with on-site amenities and service quality.
Neighborhood safety compares below national averages, with violent and property offense measures in lower national percentiles. However, year-over-year trend data show meaningful improvement, ranking in stronger percentiles for crime reduction versus neighborhoods nationwide. These metrics describe the neighborhood context among 710 metro neighborhoods, not the property, and investors typically account for this with security standards, lighting, and resident engagement.
The area draws from a diverse white-collar employment base that supports renter demand through commute convenience, led by electronics manufacturing, financial services, and healthcare insurers noted below.
- Jabil Circuit — electronics manufacturing (4.1 miles) — HQ
- Raymond James Financial — financial services (5.7 miles) — HQ
- Tech Data — technology distribution (8.7 miles) — HQ
- Wellcare Health Plans — healthcare insurance (16.3 miles) — HQ
- Cardinal Health — medical distribution (17.6 miles)
The investment case centers on a durable renter base, strong access to daily-needs retail, and an ownership market with elevated home values that reinforces reliance on rentals. According to CRE market data from WDSuite, the neighborhood’s renter concentration is above many U.S. neighborhoods and 3-mile demographics point to continued population growth and a larger household count, which can support tenant demand and lease retention over time.
Built in 1974, the property likely benefits from value-add potential through interior refreshes and selective systems upgrades to compete with newer stock. While neighborhood occupancy has trailed national medians and safety scores are mixed, recent crime trends are improving and amenity access is a relative strength, suggesting the right operating plan can capture steady demand.
- Renter pool expansion within 3 miles supports occupancy stability and leasing depth.
- Elevated ownership costs bolster rental reliance and potential pricing power.
- Daily-needs access (groceries, pharmacies, restaurants) is strong versus national peers.
- 1974 vintage offers value-add and modernization upside to enhance competitive positioning.
- Risks: softer neighborhood occupancy and below-average safety levels despite improving trends.