| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 49th | Poor |
| Demographics | 51st | Fair |
| Amenities | 62nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3720 76th St N, Saint Petersburg, FL, 33710, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1974 |
| Units | 26 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
3720 76th St N Saint Petersburg Multifamily Investment
Neighborhood renter demand is supported by strong amenity density and proximity to major employers, with occupancy trends improving in recent years according to WDSuite’s CRE market data. The 1974 vintage points to potential value-add through targeted upgrades while maintaining competitive positioning in an inner-suburban location.
This inner-suburban pocket of Saint Petersburg offers day-to-day convenience that supports leasing: restaurants and cafes are dense locally (restaurants rank competitive among Tampa–St. Petersburg–Clearwater neighborhoods and cafes sit in the top quartile nationally), while grocery and pharmacy access also track above metro norms. By contrast, parks and childcare are sparse in the immediate area, which may matter for family-oriented renter segments. School options in the neighborhood rate below national averages, an underwriting consideration for properties targeting households with children.
Rents in the neighborhood are positioned around the upper half of national markets and have grown over the past five years, while the neighborhood occupancy rate has trended higher over the same period. The local rent-to-income ratio sits well below national pressure points, which can support retention and reduce turnover risk from an investor perspective. Elevated home values relative to local incomes indicate a high-cost ownership market for many households, which tends to sustain reliance on multifamily rentals and can reinforce pricing power during renewals.
The property’s 1974 construction is slightly newer than the neighborhood’s average vintage (1971). For investors, that typically implies near-term capital planning focused on systems, common areas, and in-unit finishes to unlock value-add upside and bolster competitiveness versus older stock.
Within a 3-mile radius, demographics show a small population dip in recent years alongside a modest increase in households and smaller average household sizes — dynamics that can favor rental demand. Forward-looking projections indicate growth in both population and households through 2028, suggesting a larger tenant base and support for occupancy stability. These trends are directional and, together with amenity access, create a balanced setup for mid-scale multifamily assets.
Safety indicators for this neighborhood track below national medians, and the area sits near the metro median among 710 Tampa–St. Petersburg–Clearwater neighborhoods. That said, recent data shows a sharp year-over-year decline in property offenses, placing that improvement in the top quartile nationally, which is a constructive trend investors can monitor for persistence.
Given these mixed signals, conservative underwriting assumptions around security measures, insurance, and operating reserves are prudent. If improvements continue, the directional trend could support leasing and retention over the hold period, but investors should compare block-by-block performance cautiously and rely on current, independent verification.
The employment base nearby includes financial services, electronics manufacturing, IT distribution, managed care, and medical distribution—providing a diversified set of commuting destinations that can underpin workforce housing demand and support lease retention.
- Jabil Circuit — electronics manufacturing services (7.3 miles) — HQ
- Raymond James Financial — financial services (7.3 miles) — HQ
- Tech Data — IT distribution (8.0 miles) — HQ
- Wellcare Health Plans — managed care (19.7 miles) — HQ
- Cardinal Health — medical distribution (24.1 miles)
This 26-unit asset with larger-than-typical average floor plans positions well for renter appeal in an amenity-rich inner suburb. Neighborhood rents and occupancy have shown positive momentum, and the local rent-to-income profile suggests manageable affordability pressure that can aid renewal capture. According to CRE market data from WDSuite, nearby amenities and a diversified employment base support demand depth relative to the metro.
The 1974 vintage presents clear value-add potential through modernization of interiors and building systems to enhance competitive standing versus older stock. Demographic trends within a 3-mile radius point to a growing household base and smaller household sizes, which can expand the renter pool and support occupancy stability. Key underwriting considerations include below-national safety metrics and school ratings for family renters.
- Larger average unit sizes support renter appeal and lease retention
- Amenity density and employer proximity bolster demand and pricing power
- 1974 vintage enables targeted value-add to drive NOI
- Household growth within 3 miles supports a larger tenant base over the medium term
- Risks: below-national safety metrics and lower-rated schools warrant conservative underwriting