Cap rates, rent trends, and underwriting benchmarks for Tampa apartment investors.
Tampa Bay continues to attract residents and employers from the Northeast and Midwest. Water Street Tampa and the Channel District lead in new development. St. Petersburg's growth has compressed cap rates across the bay. Insurance remains the primary expense headwind.
Flood and windstorm insurance are critical underwriting items. 1.20-1.25x DSCR standard. Lenders increasingly requiring insurance escrows on Florida properties.
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