| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 33rd | Poor |
| Demographics | 13th | Poor |
| Amenities | 28th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4301 28th St N, Saint Petersburg, FL, 33714, US |
| Region / Metro | Saint Petersburg |
| Year of Construction | 2007 |
| Units | 33 |
| Transaction Date | 2004-08-31 |
| Transaction Price | $720,000 |
| Buyer | CONTEMPORARY HOUSING ALTERNATIVES OF FLO |
| Seller | HARPOON INVESTMENTS INC |
4301 28th St N, Saint Petersburg Investment Property
Built in 2007, the asset stands newer than much of the surrounding housing stock, suggesting relative competitiveness and manageable near-term capital needs, according to WDSuite’s CRE market data. Neighborhood renter-occupied share is above the national median, supporting a stable tenant base even as occupancy trends vary by submarket.
The property sits in an Inner Suburb of Saint Petersburg where daily-needs access is mixed. Grocery options are comparatively strong for the area while restaurants are reasonably concentrated, yet parks, pharmacies, childcare, and cafes are sparse nearby. For investors, this blend typically supports resident convenience without commanding premium lifestyle rents.
The average neighborhood construction year skews older (1950s). Against that backdrop, a 2007 vintage offers more contemporary layouts and building systems relative to nearby stock, which can help leasing and retention versus older assets; plan for routine modernization over the hold as systems age.
Tenure dynamics indicate a meaningful renter base: the neighborhood’s renter-occupied share sits above the national median, implying depth for workforce-oriented units. At the broader 3-mile radius, demographics show population growth in recent years and an increase in households alongside smaller average household sizes, pointing to a larger tenant base and demand for rental units.
At the metro level (Tampa–St. Petersburg–Clearwater), neighborhood occupancy ranks below the metro median among 710 neighborhoods, so underwriting should emphasize leasing strategy and unit positioning rather than outsized rent pushes. Still, household incomes within 3 miles have been rising, and rents have trended upward, which can support rent growth where value is clear and finishes are competitive.
Safety indicators for this neighborhood are mixed. Within the Tampa–St. Petersburg–Clearwater metro, the area sits around the middle of the pack (344th of 710 neighborhoods). Nationally, the neighborhood scores below the median on safety measures, but recent trends show a year-over-year decline in violent incidents, signaling some improvement. Investors should treat security, lighting, and resident communication as standard operating considerations.
Nearby corporate offices provide a diversified employment base that supports renter demand and commute convenience, including Jabil Circuit, Raymond James Financial, Tech Data, and Wellcare Health Plans.
- Jabil Circuit — corporate offices (3.6 miles)
- Jabil Circuit — corporate offices (4.1 miles) — HQ
- Raymond James Financial — corporate offices (5.2 miles) — HQ
- Tech Data — corporate offices (7.7 miles) — HQ
- Wellcare Health Plans — corporate offices (17.0 miles) — HQ
The 2007 construction positions this asset as newer than much of the surrounding 1950s-era housing, offering relative competitive advantage on systems and finishes with potential for selective upgrades to drive leasing. Within a 3-mile radius, population growth, rising median incomes, and more households—alongside smaller household sizes—point to renter pool expansion and support for occupancy stability as units are priced to value.
Amenity access is practical rather than premium, with strong proximity to groceries and dining but limited park and café density. Neighborhood-level occupancy trends are below the metro median among 710 neighborhoods, so business plans should emphasize value-forward positioning and operational execution. According to CRE market data from WDSuite, rents and incomes in the surrounding area have been trending upward, while ownership remains relatively accessible, which can introduce competition from for-sale options and argues for disciplined pricing and finish packages.
- 2007 vintage competes well versus older local stock with targeted upgrades
- 3-mile radius shows population growth and more households, supporting a larger tenant base
- Practical amenity access (strong groceries/dining) supports day-to-day livability
- Corporate employment nodes nearby aid leasing and retention
- Risks: below-metro-median neighborhood occupancy and accessible ownership options may temper pricing power