| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 54th | Fair |
| Demographics | 34th | Poor |
| Amenities | 39th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4201 49th St N, Saint Petersburg, FL, 33709, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1983 |
| Units | 90 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4201 49th St N St. Petersburg Multifamily Investment
Neighborhood occupancy trends and a sizable renter base point to durable leasing fundamentals, according to WDSuite's CRE market data. Proximity to major corporate offices supports demand depth and retention for a 90-unit asset.
This Inner Suburb location in Saint Petersburg offers balanced livability for workforce renters: parks and recreation access score in the top quartile nationally, and grocery options track above U.S. norms, while on-site dining and pharmacies are comparatively limited. These dynamics suggest everyday convenience for residents, with some reliance on short drives for restaurants and services.
For investors evaluating leasing stability, the neighborhood's occupancy sits in the upper-80s and has edged up over the past five years, based on CRE market data from WDSuite. Median contract rents are mid-market for the metro, which can aid lease-up and renewal strategies without overextending pricing power.
Tenure patterns indicate roughly two-fifths of local housing units are renter-occupied, signaling an established base of multifamily demand. Within a 3-mile radius, population has risen modestly and households are projected to increase further as average household size trends lower, which typically expands the renter pool and supports occupancy consistency.
Vintage matters: with a 1983 construction date in a submarket where much of the housing stock is older, the asset should compete well against legacy inventory while still warranting targeted modernization for aging systems or value-add repositioning over the hold period.
Safety indicators for the neighborhood are below national averages, and the area ranks below the metro median (493 out of 710 Tampa–St. Petersburg–Clearwater neighborhoods). Nationally, the neighborhood falls in lower percentiles for overall safety, so underwriting should reflect prudent security and operational planning. Recent trends show violent incidents have declined year over year, while property-related incidents have moved higher; monitoring trajectory and deploying standard risk-mitigation measures is advisable.
Nearby corporate offices create a strong commuter base that supports renter demand and lease retention. Key employers include Jabil Circuit, Raymond James Financial, Tech Data, Wellcare Health Plans, and Cardinal Health.
- Jabil Circuit — corporate offices (5.1 miles) — HQ
- Raymond James Financial — corporate offices (5.6 miles) — HQ
- Tech Data — corporate offices (7.4 miles) — HQ
- Wellcare Health Plans — corporate offices (17.9 miles) — HQ
- Cardinal Health — corporate offices (21.4 miles)
The property's 1983 vintage positions it newer than much of the surrounding housing stock, supporting competitive appeal versus older assets while leaving room for targeted upgrades to drive rent premiums and operating efficiency over time. Neighborhood occupancy remains in the upper-80s and has improved modestly, indicating a stable leasing backdrop relative to similar inner-suburban locations.
Within a 3-mile radius, steady population growth and a projected increase in households point to a larger tenant base and support for retention and lease-up. Homeownership costs in the area are relatively elevated compared with local incomes, which tends to sustain renter reliance on multifamily housing. According to CRE market data from WDSuite, local rents sit in a mid-range band for the metro, which can balance absorption with pricing discipline.
- 1983 construction offers competitive positioning versus older neighborhood stock, with value-add potential through modernization.
- Neighborhood occupancy in the upper-80s supports leasing stability and renewal performance.
- Expanding household counts within 3 miles suggest a growing renter pool and broader demand base.
- Mid-market rent levels can support absorption while preserving pricing power over time.
- Risks: below-average safety metrics and limited nearby dining/pharmacy options warrant prudent operations and amenity planning.