| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 51st | Fair |
| Demographics | 49th | Fair |
| Amenities | 44th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 825 Cypress St, Tarpon Springs, FL, 34689, US |
| Region / Metro | Tarpon Springs |
| Year of Construction | 1985 |
| Units | 20 |
| Transaction Date | 2004-01-20 |
| Transaction Price | $4,500,000 |
| Buyer | CYPRESS PLACE HOLDINGS LLC |
| Seller | EIGHTH STREET PARTNERS LLC |
825 Cypress St Tarpon Springs Multifamily Investment
Neighborhood renter demand is supported by strong park and dining access and a moderate renter-occupied housing base, according to WDSuite’s CRE market data.
This suburban Tarpon Springs location balances livability and steady renter appeal. Neighborhood amenities skew toward outdoor and lifestyle access, with parks density in the top tier nationally and restaurant availability well above national averages, while grocery options are also comparatively strong. These features help support day-to-day convenience and leasing appeal for workforce-oriented renters.
Relative to other neighborhoods across the Tampa–St. Petersburg–Clearwater metro (710 neighborhoods), overall neighborhood performance sits around the metro middle (rank 387 of 710; rating B-). The average school rating trends below national benchmarks, which may matter for family-oriented demand, but proximity to amenities can offset some of that for adult and senior renter cohorts.
Construction patterns in the immediate area skew older (average 1959 across nearby neighborhoods), making the subject’s 1985 vintage comparatively newer within the local competitive set. For investors, that typically implies a more favorable baseline for systems and exterior condition versus mid-century stock, while still leaving room for targeted renovations to enhance unit finishes and operating efficiency.
Tenure data indicates a moderate share of renter-occupied housing units in the neighborhood, supporting a stable tenant base without excessive turnover risk. Within a 3-mile radius, recent population growth has been modest and households have increased, broadening the local renter pool; forecasts point to further gains in population and households, which should help underpin occupancy and leasing velocity over a multiyear hold.
Home values in the area are elevated relative to local incomes by national standards (value-to-income ratio in a higher national percentile), which typically sustains reliance on rental options. With rent-to-income levels near common underwriting thresholds, pricing power exists but should be paired with thoughtful lease management to preserve retention.
Safety indicators for the neighborhood track below national benchmarks. Based on WDSuite’s data, the area sits in the lower end of national safety percentiles and below the metro average (crime rank 581 out of 710 Tampa–St. Petersburg–Clearwater neighborhoods), indicating comparatively higher reported incident rates than many peer neighborhoods.
Property-related offenses are particularly elevated versus neighborhoods nationwide (low national percentile), and recent year-over-year trends show increases. Investors should underwrite to enhanced security measures, lighting, and resident engagement, and compare historical incident patterns to nearby submarkets to calibrate marketing and operating strategies.
Proximity to regional employment hubs supports workforce housing demand and commute convenience, led by healthcare, financial services, technology distribution, and electronics manufacturing employers listed below.
- Wellcare Health Plans — healthcare insurance (14.3 miles) — HQ
- Raymond James — financial services (15.1 miles)
- Tech Data — technology distribution (16.1 miles) — HQ
- Raymond James Financial — financial services (18.7 miles) — HQ
- Jabil Circuit — electronics manufacturing (20.3 miles) — HQ
825 Cypress St is a 1985-vintage, small-scale multifamily asset in a suburban pocket of Tarpon Springs where outdoor amenities and dining access are stronger than national norms. The property competes against an older neighborhood base, offering a relative edge on building systems and a clear path for targeted value-add to interiors and curb appeal. Within a 3-mile radius, households have expanded and are forecast to grow further, signaling a larger tenant base that can support occupancy stability and leasing velocity over the medium term.
Ownership costs in the area trend high relative to incomes by national standards, which tends to reinforce renter reliance on multifamily housing. According to CRE market data from WDSuite, neighborhood occupancy has been steady near the metro middle with a moderate renter-occupied share; paired with improving household incomes and forecast population growth, this supports a durable demand thesis while leaving room for operational upside through selective renovations and disciplined lease management.
- 1985 vintage is newer than much of the local stock, enabling focused value-add rather than heavy system overhauls.
- Strong parks, restaurant, and grocery access elevate livability and help sustain renter demand.
- Expanding households within 3 miles point to a growing renter pool that can support occupancy and absorption.
- Higher ownership costs versus incomes favor rental retention and steady leasing.
- Risks: safety metrics trail metro and national benchmarks; school quality is weaker—underwrite security, marketing, and tenant profile accordingly.