| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Fair |
| Demographics | 44th | Fair |
| Amenities | 39th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 5301 Columbus Way S, Saint Petersburg, FL, 33712, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 1987 |
| Units | 52 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
5301 Columbus Way S, Saint Petersburg FL Multifamily Investment
Positioned for renter demand with a 1987 vintage that competes against older neighborhood stock, this 52-unit asset benefits from strong parks access and favorable rent-to-income dynamics, according to WDSuite's CRE market data. The trade-off is thinner nearby retail options and neighborhood occupancy running below the metro median, which calls for disciplined leasing and asset management.
The property sits in a suburban pocket of Saint Petersburg within the Tampa-St. Petersburg-Clearwater metro. Neighborhood ratings from WDSuite point to a C+ area (ranked 439 of 710 metro neighborhoods), indicating a mixed but workable backdrop for workforce-oriented multifamily. Parks access is a relative strength (top quintile nationally), and pharmacies and childcare density are above average, while cafes, restaurants, and groceries are sparse nearby, a factor that tilts daily needs toward driving.
Rent levels in the neighborhood track in the top quartile among 710 metro neighborhoods, suggesting pricing power relative to other local areas. By contrast, neighborhood occupancy trends sit below the metro median, so investors should plan for proactive leasing and renewals to sustain stability. Within a 3-mile radius, roughly 34.7% of housing units are renter-occupied, supporting depth for multifamily demand without overreliance on any single tenant segment.
Home values in the area are elevated versus many U.S. neighborhoods, while rent-to-income ratios are comparatively favorable. For investors, this combination supports retention (ownership remains a higher-cost alternative for many households) while keeping rent burdens in a range that can help minimize turnover risk if managed carefully.
Demographic statistics are aggregated within a 3-mile radius: recent years show modest population softness, but WDSuite's outlook points to notable population and household growth by 2028 alongside slightly smaller average household sizes. That trajectory indicates a larger renter base over time and supports a thesis of steady demand for well-managed apartments.
Safety indicators for the neighborhood are below national medians, placing the area in lower national percentiles for both violent and property offenses. Within the Tampa-St. Petersburg-Clearwater metro, the neighborhood's crime rank is 393 out of 710, which is below the metro median for safety.
Recent trend data from WDSuite shows year-over-year declines in property offenses and a modest improvement in violent offense rates. While the overall safety profile still trails national benchmarks, the downward trend is a constructive signal to monitor when underwriting retention, marketing strategy, and security measures.
The area draws from a diversified employment base across corporate offices and financial services, which supports commuter convenience and renter retention for workforce housing. Nearby anchors include Jabil Circuit, Raymond James Financial, Tech Data, and Wellcare Health Plans.
- Jabil Circuit — corporate offices (9.7 miles)
- Jabil Circuit — corporate offices (10.2 miles) — HQ
- Raymond James Financial — financial services (11.5 miles) — HQ
- Tech Data — technology distribution (13.8 miles) — HQ
- Wellcare Health Plans — healthcare insurance (22.7 miles) — HQ
Built in 1987, the property is newer than the neighborhood's average vintage, offering competitive positioning versus older stock while still leaving room for targeted modernization and value-add. Within a 3-mile radius, a balanced renter base and projections for population and household growth suggest a larger tenant pool ahead—a constructive setup for leasing momentum if operations are managed actively. According to CRE market data from WDSuite, neighborhood rents rank well within the metro while rent-to-income metrics remain favorable, supporting pricing power with measured retention risk.
Key considerations include limited nearby food retail and the neighborhood's below-median safety standing, balanced by strong parks/pharmacy/childcare access and improving crime trends. With thoughtful capital planning and disciplined leasing, the asset can capture demand from commuters tied to nearby employment centers and households seeking more accessible rental options than ownership.
- 1987 vintage is competitive versus older local stock, with value-add potential through selective renovations and systems upgrades.
- Favorable rent-to-income dynamics support retention and measured pricing power relative to homeownership costs.
- 3-mile demographics point to population and household growth by 2028, expanding the renter pool and supporting occupancy stability.
- Risks: below-median safety and limited nearby retail require active management, security planning, and focused leasing to sustain performance.