| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 20th | Poor |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 500 S Barack Obama Blvd, Quincy, FL, 32351, US |
| Region / Metro | Quincy |
| Year of Construction | 1979 |
| Units | 60 |
| Transaction Date | 2023-01-26 |
| Transaction Price | $2,814,000 |
| Buyer | PARKVIEW COMMUNITIES LLC |
| Seller | PARKVIEW GARDEN APARTMENTS |
500 S Barack Obama Blvd Quincy FL 60-Unit Multifamily
Neighborhood renter-occupied share sits on the higher side for the metro, supporting a stable tenant base, while the rent-to-income ratio around the area is relatively low, aiding retention according to WDSuite’s CRE market data.
Quincy’s rural neighborhood setting offers steady workforce housing dynamics rather than amenity-driven demand. Neighborhood occupancy trends are above the Tallahassee metro median, indicating reasonably durable leasing conditions for a well-managed multifamily asset. Renter-occupied housing is competitive among Tallahassee neighborhoods and higher than many areas nationally, which supports depth of demand for rentals over the long run.
Amenity density is thin locally (few cafes, parks, and pharmacies), though basic grocery access is present. For investors, this favors value positioning and resident convenience features on-site over reliance on neighborhood retail. Median rents in the immediate area remain modest relative to incomes, and the neighborhood’s rent-to-income positioning suggests manageable affordability pressure that can support lease retention.
Within a 3-mile radius, demographics show modest population growth over the past five years alongside a decline in household counts and larger average household size. Looking ahead, forecasts indicate increasing households and slightly smaller household sizes, pointing to a potential expansion of the renter pool and support for occupancy stability. Educational attainment is lower relative to national averages, reinforcing a workforce-oriented renter base; operators should align unit finishes and amenities to durable value demand.
The neighborhood’s average construction year trends newer than this property, underscoring that the 1979 vintage may trail newer stock on systems and finishes. That gap can translate to value-add potential through targeted renovations and capital planning to remain competitive with metro peers, informed by commercial real estate analysis and comparable assets in the Tallahassee region.
Comparable safety benchmarking for this neighborhood is not available in the current dataset. Investors typically triangulate neighborhood-level trends with city, county, and police-reported data to assess patterns over time and proximity to public services. Consider evaluating multi-year trends and comparing against Tallahassee metro peers for a like-for-like read on relative safety conditions.
This 60-unit asset built in 1979 presents a straightforward value-add and cashflow-oriented thesis in a rural Quincy location. Neighborhood occupancy is above the Tallahassee metro median, and renter-occupied share is comparatively elevated, supporting tenant depth. The area’s low rent-to-income positioning supports retention and measured pricing power, while limited surrounding amenities favor on-site convenience and operational execution. According to CRE market data from WDSuite, the neighborhood skews newer than the property, reinforcing the case for targeted renovations to improve competitive standing.
Forward demographic indicators within a 3-mile radius point to growth in households and a slight easing in household size, which can translate to a larger renter base over time. Execution risk centers on rural amenity limitations and ensuring capex addresses 1979-vintage systems; disciplined asset management and resident services can mitigate these risks while capturing steady demand from the local workforce.
- Neighborhood occupancy above metro median supports leasing stability
- Elevated renter-occupied share indicates depth of tenant demand
- 1979 vintage offers value-add potential through targeted renovations
- Rural setting and modest rents favor on-site convenience and retention strategies
- Risks: thin neighborhood amenities and capex needs for older systems