Any areas of Tampa/Greater Tampa burbs to avoid?

Question

I'm looking to expand my purchases and rehabs/rentals into Tampa and suburbs and wondering if there are areas I should avoid or the really good areas to look at.  TIA!

Jorge Vazquez · Answer

After doing this for 20 years, I believe the three upcoming neighborhoods in Tampa are taking off. The best areas where you can still find deals. The first is University Square, high in diversity low in cost of living, and it is ideal for new families and young students that are just getting started. Also, the proximity to Busch gardens makes it very attractive for your next tenant. Number two is Tampa Heights, south of the university and slightly north of downtown; this old neighborhood of Tampa Heights is attracting more people than ever. So many developers have been welcomed by small businesses and residents that are now moving to the area, making it ideal for rental properties. Number three is Ybor City. Ybor has been up and coming for years, so much to do around great Cuban food, trolleys, new bars. The area continues to draw all kinds of people, including people willing to live there and be part of the cool part of Tampa.

Nick Kamrada · Answer

Even the not so great areas of Tampa are seeing increases in activity and value (mostly). My team has found buyers for properties in areas that I honestly didn't think we'd be able to (at least not now). There's just such low inventory right now. We are looking at a duplex in the South Nebraska area between downtown and Ybor City. Right now it's probably somewhere you probably wouldn't want to be after the sun goes down, but the way the city is going, it won't be that way for long and could be an absolute gem of an Airbnb in the future. Like @Zach Kolman said, if you're thinking long term, I personally don't think you can go wrong getting property anywhere in Tampa right now (as long as you buy it right obviously).

Trace J. · Answer

@Nick Kamrada that is good to know although I still like to avoid questionable areas where I could potentially have issues.  I appreciate the info and yes @Zach Kolman is right.

Khaled Morad · Answer

Yes. We’re holding it every 3rd Wednesday. Search Tampa Free RE Meetup or message me :)

Kristina Kuba · Answer

West, Midtown and south Tampa are areas I recommended.

From my experience, it matters much less of the overall neighborhood but more importantly how nice your flip or renovation is compared to neighbors homes directly on either side of you.  Did you flip the only nice house on the block and now have manicured lawns but both your neighbors have junk cars sitting outside and broken furniture in the front yard?  This is one of the most frequent concerns / feedback I have had on my listings is how the direct neighbors' homes feel and look.

I would also check flood insurance rates before buying your next renovation project.  FEMA just redid their flood maps and flood  insurance is skyrocketing.  You might really narrow your buyer pool with the costly flood insurance rates.

Jason Wray · Answer

I would stay away from Drew Park & Highland Pines there are also high crime rate areas in East Ybor and certain parts of Downtown Tampa.  The statistics are available online and easy to search the internet for high crime areas by neighborhood and blocks. North Tampa and University Square has some newer opportunities and its becoming a more popular area for business and residential.

Trace J. · Answer

@Khaled Morad I would love to join a Tampa meetup but I will be out of town on the 17th.  Is it held monthly by chance?

Khaled Morad · Answer

@Trace J. And everyone else, I hope you will join us at our free Tampa Meetup on Wednesday Nov 17th and share your expertise.  https://www.biggerpockets.com/... It's a great opportunity to connect with other investors, agents, and contractors

Trace J. · Answer

Fantastic information!  Thank you @Jorge Vazquez, @Marissa Miles, @Kristina Kuba and @Zach Kolman for the great advice.  I will definitely be scouting those areas looking for my next deal.  I appreciate the help!

Marissa Miles · Answer

Tampa and the surrounding areas can be a little tricky. It's pretty common to see extremely nice homes right next door to not-so-nice homes. Like Kristina said, you definitely want to be mindful of the neighbors houses and not just the one you're looking at. I'd also recommend having someone (or yourself) drive around the neighborhood during the day, and at night, just to get a feel for it. I think over time more of the small homes in south tampa will give way to much nicer homes, so it really depends on how long you plan to hold. School zones are also super important in South Tampa.

I've seen some crazy good returns in the Brandon/Valrico area over the past year, and I still feel it's undervalued; especially with more jobs becoming remote. The hour drive in rush hour isn't a problem when you work from home! Further south into Riverview and Apollo Beach areas have some very nice neighborhoods as well.

As far as places to avoid, I would stay away from Seminole Heights and Belmont Heights. Palm River-Clair Mel and Progress Village don't have much going on housing wise, but aren't the nicest areas. There's a lot of industrial and warehouse zoning around there, so the property values don't seem to be doing as well. I'd also be careful in the areas in and around Ybor. There's some potential in that area, but it's risky.

Any areas of Tampa/Greater Tampa burbs to avoid?

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