| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Good |
| Demographics | 76th | Best |
| Amenities | 41st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 8384 Bayou Boardwalk, Seminole, FL, 33777, US |
| Region / Metro | Seminole |
| Year of Construction | 1992 |
| Units | 120 |
| Transaction Date | 2012-05-29 |
| Transaction Price | $2,537,700 |
| Buyer | CATHOLIC CHARITIES PINELLAS VILLAGE |
| Seller | WELLS FARGO BANK NA |
8384 Bayou Boardwalk Seminole Multifamily Investment
Owner-tilted inner suburb with top-rated schools and strong daily-needs access supports durable renter demand, according to WDSuite’s CRE market data. Expect steady leasing from workforce households, with pricing power tied to quality and management execution rather than quick momentum plays.
Seminole’s inner-suburban setting offers practical livability: grocery access ranks in a high national percentile while park acreage per square mile also tests strong, indicating day-to-day convenience and recreation options that help with resident retention. Cafés and pharmacies are thinner nearby, so on-site amenities and last‑mile services can differentiate.
Neighborhood school ratings are at the high end locally (ranked 1 out of 710 metro neighborhoods) and in the top percentile nationally, an advantage for family renters and long-term stability. Median home values sit on the higher side relative to local incomes (value-to-income near the upper national percentiles), which tends to sustain reliance on multifamily housing and supports lease retention when product is well-maintained.
Recent rent levels and growth trends indicate that households are paying a manageable share of income locally, which helps mitigate turnover risk. At the same time, neighborhood occupancy has been below national medians in recent years; effective leasing, renewals, and curated unit mixes will matter more than in tighter core submarkets.
Within a 3-mile radius, demographics show a large, established base with expectations for population and household growth over the next five years, pointing to a larger tenant pool and incremental demand for rental units. The renter-occupied share remains a minority both in the neighborhood and the 3‑mile area, which implies an owner-heavy context; for investors, that typically translates into steadier but more competitive capture of qualified renters versus dense, renter-dominant districts.
Safety indicators benchmark below the national median, with neighborhood crime measures landing in the lower national percentiles. That suggests higher incident rates than many U.S. neighborhoods, so investors should underwrite conservative security and preventive maintenance protocols.
Property crime has shown a recent uptick, while violent incident metrics sit closer to the national middle. The prudent approach is to emphasize lighting, access control, and resident engagement, and to monitor city and county trend lines over time rather than drawing conclusions from a single year.
Proximity to major employers in technology, financial services, electronics manufacturing, and managed care supports commuter convenience and a stable renter base. Notable nearby employers include Tech Data, Raymond James Financial, Jabil, and Wellcare Health Plans.
- Tech Data — technology distribution (6.3 miles) — HQ
- Raymond James Financial — financial services (6.4 miles) — HQ
- Jabil Circuit — electronics manufacturing (6.5 miles)
- Jabil Circuit — electronics manufacturing (7.0 miles) — HQ
- Wellcare Health Plans — managed care (18.5 miles) — HQ
This 120‑unit property built in 1992 is slightly newer than the neighborhood’s average vintage, offering a competitive footing versus older stock while leaving room for targeted modernization to drive rent premiums. Strong daily-needs access and top-tier school ratings underpin family-oriented renter demand, while a high-cost ownership landscape in the area helps support lease retention and steady absorption. Based on CRE market data from WDSuite, local rent-to-income readings indicate manageable affordability pressure, suggesting that well-executed renovations and service levels can translate into durable cash flows.
Counterbalancing strengths, the submarket is owner-heavy and the neighborhood’s occupancy has trailed tighter nodes, so performance depends on operational execution and product positioning. Near-term underwriting should also account for property-crime monitoring and appropriate security investments, with upside tied to household and income growth within the 3-mile radius that expands the renter pool over the medium term.
- 1992 vintage offers value-add pathways to modernize interiors and common areas
- Strong grocery and park access plus top-ranked schools support retention and leasing
- High-cost ownership context reinforces multifamily demand and renewal potential
- Growing 3-mile household and income base points to a larger tenant pool over time
- Risks: owner-heavy area, below-median neighborhood occupancy, and property-crime monitoring needs