| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 23rd | Poor |
| Demographics | 20th | Poor |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 424 Line St, Chattahoochee, FL, 32324, US |
| Region / Metro | Chattahoochee |
| Year of Construction | 1977 |
| Units | 88 |
| Transaction Date | 2004-04-02 |
| Transaction Price | $3,900,000 |
| Buyer | GREH FLINT GARDENS FL TC LLC |
| Seller | MATTINGLY MANSIONS LLC |
424 Line St, Chattahoochee FL Multifamily Opportunity
Steady workforce housing demand in a rural submarket supports durable occupancy, according to WDSuite s CRE market data, though leasing velocity may track local fundamentals. Positioned for pragmatic operations and selective upgrades rather than outsized rent growth.
Chattahoochee is a rural neighborhood within the Tallahassee, FL metro, rated D and ranked 142 out of 143 metro neighborhoods. This places it well below the metro median, with limited amenity density and a small local retail footprint. Investors should underwrite to modest absorption and prioritize property-level competitiveness over location-driven premium.
Neighborhood occupancy is measured for the area, not the property, and sits below typical metro levels (ranked 107 of 143). Renter concentration is roughly around the metro median by rank, indicating a workable tenant base but not a deep pool. Median contract rents and home values in the neighborhood are on the low end nationally, which can temper pricing power but may aid lease retention when positioned as reliable, well-managed housing.
The asset 9s 1977 vintage is newer than the neighborhood 19s average construction year of 1966. That relative age advantage can help the property compete against older stock, but investors should still plan for system modernization and interior refresh to enhance leasing and retention.
Demographic statistics aggregated within a 3-mile radius show population and household counts have contracted over the last five years, while average household size has edged higher. This points to a smaller renter pool with larger households, suggesting that unit mix, value-focused positioning, and resident service quality will be important to sustain occupancy.
Comparable, property-level safety data for this neighborhood are not available in WDSuite for the current period. Without consistent metro-ranking or national-percentile readings, investors should rely on standard diligence: verify recent trend data, review local law enforcement reports, and assess on-the-ground conditions during site visits.
Major employer proximity data with verified distances is not available in WDSuite for this specific location. Investors should validate commute patterns during diligence to understand workforce housing dynamics and retention potential.
424 Line St totals 88 units with an average unit size near 800 square feet, offering scale for professional management in a rural setting. The neighborhood 19s occupancy and renter concentration trends suggest stable but unspectacular demand; according to CRE market data from WDSuite, local metrics trail the metro median, so property-level execution and value positioning will drive outcomes more than submarket tailwinds.
The 1977 construction provides a relative age edge versus older area stock, creating a straightforward value-add path via system updates and interior improvements. With low neighborhood home values and measured rents nationally, underwrite to steady collections and careful expense control rather than aggressive rent growth, and factor in the thinner amenity base that can influence leasing velocity.
- Scale at 88 units supports professional operations and cost efficiencies.
- 1977 vintage offers value-add potential versus older local stock.
- Low-cost ownership market can favor retention for well-managed rentals.
- Underwrite to below-metro demand trends; focus on execution and service quality.
- Risks: thin amenity base, contracting 3-mile population/households, and limited pricing power.