| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 52nd | Fair |
| Demographics | 73rd | Best |
| Amenities | 68th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3190 75th St N, Saint Petersburg, FL, 33710, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1979 |
| Units | 48 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3190 75th St N, Saint Petersburg, FL Multifamily
Neighborhood fundamentals point to durable renter demand in a high-cost ownership area, according to WDSuite’s CRE market data, supporting stable multifamily operations near major employment hubs. This concise commercial real estate analysis emphasizes location strength and value‑add potential rather than short-term volatility.
Situated in a suburban pocket of Saint Petersburg, the neighborhood is rated A and ranks 91 out of 710 metro neighborhoods—top quartile in the Tampa–St. Petersburg–Clearwater area. That positioning reflects a blend of convenience and livability that tends to support leasing stability for workforce and professional renters.
Everyday amenities are accessible, with grocery and pharmacy access performing above many areas nationally, and parks density in the 91st percentile nationwide. Average school ratings near 4.0 out of 5 (84th percentile nationally) provide an additional family-friendly signal that can aid tenant retention relative to other submarkets.
Ownership costs are elevated for the area (home values rank in the 77th national percentile and the value‑to‑income ratio sits in the 96th percentile), which generally sustains reliance on rental housing and supports pricing power when operations are well managed. Within a 3‑mile radius, approximately 24% of housing units are renter‑occupied, indicating an owner‑leaning landscape but with a meaningful tenant base for multifamily assets.
The property’s 1979 construction is newer than the neighborhood’s older housing stock (average vintage 1968), offering competitive positioning versus mid‑century product while still warranting capital planning for aging systems and targeted renovations for rent lift. Neighborhood occupancy is reported around 88% and has improved over the last five years, a directional positive for stabilization, based on CRE market data from WDSuite.
Safety indicators sit below the national median, with the neighborhood’s crime standing not among the strongest in the metro (ranked 304 out of 710). However, recent year-over-year data show notable declines in both violent and property offense rates, indicating improving trends relative to prior periods and suggesting risk management may benefit from continued positive momentum.
For investors, this context supports underwriting that emphasizes strong on-site operations, lighting and access control, and partnership with local community resources to maintain the improving trajectory rather than assuming best‑case conditions.
Nearby corporate anchors provide a diverse employment base that supports renter demand and commute convenience, led by advanced manufacturing, financial services, IT distribution, and managed care.
- Jabil Circuit — electronics manufacturing/services (6.9 miles)
- Jabil Circuit — electronics manufacturing/services (7.5 miles) — HQ
- Raymond James Financial — financial services (7.5 miles) — HQ
- Tech Data — IT distribution (8.3 miles) — HQ
- Wellcare Health Plans — managed care (19.9 miles) — HQ
This 48‑unit 1979 asset benefits from a top‑quartile neighborhood within the Tampa–St. Petersburg–Clearwater metro and proximity to major employers. Elevated ownership costs in the area reinforce steady renter demand, while neighborhood occupancy has trended upward, supporting income durability. The vintage presents clear value‑add and system‑refresh opportunities to enhance competitive positioning against older stock.
Demographic indicators within a 3‑mile radius point to continued household growth and a widening upper‑income cohort, expanding the potential renter pool and supporting retention strategies. According to CRE market data from WDSuite, schools and amenities benchmark above national norms, further underpinning long‑term leasing fundamentals.
- Top‑quartile neighborhood in the metro with strong schools and amenities supporting retention
- Elevated home values and high value‑to‑income dynamics sustain reliance on multifamily housing
- Proximity to major employers (manufacturing, finance, healthcare, IT) supports demand depth
- 1979 vintage enables targeted renovations and system upgrades for rent and NOI lift
- Risks: safety metrics below national median and an owner‑leaning area; underwrite for operations, security, and leasing execution