| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Good |
| Demographics | 67th | Best |
| Amenities | 69th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4771 100th Way N, Saint Petersburg, FL, 33708, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1977 |
| Units | 20 |
| Transaction Date | 2014-02-25 |
| Transaction Price | $600,000 |
| Buyer | RAVEN AT BAY PINES APARTMENTS LLC |
| Seller | RJCW LLC |
4771 100th Way N, Saint Petersburg 20-Unit Multifamily
Positioned in a suburban pocket with strong amenity access and high neighborhood asking rents, the asset offers steady renter demand drivers, according to CRE market data from WDSuite. 1977 vintage suggests competitive positioning versus older local stock with potential to unlock value through targeted upgrades.
The property sits in an A-rated suburban neighborhood within the Tampa–St. Petersburg–Clearwater metro, ranked 58 out of 710 metro neighborhoods. Amenity access is a clear strength: restaurants and cafes rank in the upper tier (both above-median locally), and parks score in the top quartile nationally, supporting resident lifestyle and lease retention.
Construction trends favor competitiveness: the area’s average building vintage skews older than this 1977 asset, creating a relative edge versus aging stock while still calling for prudent capital planning for systems and finishes. This balance typically supports value-add repositioning without the cost profile of ground-up alternatives.
Tenure patterns indicate a moderate renter base: renter-occupied share is roughly one-third at the neighborhood level and about one-quarter within a 3-mile radius, pointing to demand depth while signaling that ownership options remain prevalent. For investors, that mix can support stable leasing while concentrating demand in well-managed, well-located properties.
Neighborhood occupancy has risen over the last five years, but current occupancy levels remain below many U.S. neighborhoods, underscoring the importance of hands-on leasing and renewal strategies. Home values sit in a higher-cost ownership context relative to national norms, which can sustain reliance on rentals and support pricing power for quality product.
Safety indicators are mixed compared with national benchmarks. The neighborhood sits below national averages for safety overall, with property crime elevated relative to many U.S. neighborhoods. However, violent offenses have been trending lower year over year, signaling some improvement in severe incidents.
Within the Tampa–St. Petersburg–Clearwater metro, results are competitive among local neighborhoods in some categories but not top-tier; the area’s crime rank sits around the metro median when measured against 710 neighborhoods. Investors should underwrite with prudent security and operations assumptions while noting the downward trend in violent offenses.
Nearby corporate anchors provide a diverse white-collar employment base that supports renter demand and commute convenience, including technology distribution, financial services, electronics manufacturing, managed healthcare, and medical products distribution.
- Tech Data — technology distribution (8.3 miles) — HQ
- Raymond James Financial — financial services (8.4 miles) — HQ
- Jabil Circuit — electronics manufacturing (8.8 miles) — HQ
- Wellcare Health Plans — managed healthcare (20.5 miles) — HQ
- Cardinal Health — medical products distribution (26.0 miles)
This 20-unit, 1977-vintage asset benefits from a high-amenity suburban setting with strong restaurant, cafe, and park access and neighborhood asking rents that benchmark high nationally. Based on CRE market data from WDSuite, local occupancy has improved over the past five years, and higher-cost ownership dynamics in the area help sustain reliance on rentals, favoring well-managed properties that execute on renewals and targeted upgrades.
Within a 3-mile radius, demographics indicate a modest renter pool today with projections for meaningful population and household growth, which can expand the tenant base over the medium term. The vintage is newer than much of the surrounding stock, supporting competitive positioning, though investors should plan for ongoing system modernization and carefully manage rent-to-income affordability to support retention.
- High neighborhood amenity access and strong asking-rent positioning support pricing power and lease retention.
- 1977 vintage is newer than local averages, offering value-add upside while remaining competitive versus older stock.
- Projected population and household growth within 3 miles can expand the tenant base over the medium term.
- Proximity to major corporate employers supports leasing velocity and retention for workforce and white-collar renters.
- Risks: below-average national safety benchmarks, current occupancy below many U.S. areas, and affordability pressure require active leasing and renewal management.