| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 35th | Poor |
| Demographics | 13th | Poor |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 62 N Cleveland St, Quincy, FL, 32351, US |
| Region / Metro | Quincy |
| Year of Construction | 2006 |
| Units | 120 |
| Transaction Date | 2004-01-26 |
| Transaction Price | $200,000 |
| Buyer | ARBOR CREST HOUSING LP |
| Seller | ARBOR CREST LTD |
62 N Cleveland St Quincy FL 120-Unit Multifamily
2006-vintage asset positioned against an older local stock, with demand supported by a growing nearby renter base and a high-cost ownership context according to WDSuite’s CRE market data.
Quincy’s neighborhood surrounding 62 N Cleveland St skews Rural with a C+ rating among 143 Tallahassee metro neighborhoods, and local livability is shaped by a modest amenity mix. Restaurants are competitive locally (top quartile among 143 metro neighborhoods), while parks and pharmacies also rank in the top quartile, offering day-to-day convenience. By contrast, cafes and grocery options are limited, which may influence resident errand patterns and drive times.
For investors, the key housing dynamics are mixed. Neighborhood occupancy trends trail metro norms, pointing to an execution focus on leasing and renewals rather than assuming automatic stability. The renter-occupied share at the neighborhood level remains relatively modest, which can limit immediate depth of the tenant base; however, within a 3-mile radius demographics show population growth over the past five years and an increase in households, supporting a broader pool of prospective renters.
Tenure patterns matter: the 3-mile radius indicates a sizable and expanding renter-occupied share, which can underpin leasing velocity and renewal prospects as more households enter the rental market. At the same time, rent-to-income ratios signal affordability pressure, suggesting operators should emphasize retention strategies, thoughtful rent-step management, and value-centric amenity positioning to sustain occupancy.
Education and family-oriented amenities are a consideration. Average school ratings in this neighborhood are below both metro and national benchmarks, which can affect family renter appeal. Childcare availability ranks in the top quartile locally, partially offsetting school quality concerns for some households. Overall, the ownership landscape shows elevated home value-to-income ratios (top quartile nationally), which tends to reinforce renter reliance on multifamily housing and can support pricing power when balanced against income sensitivity.
Comparable safety data at the neighborhood level is not available in WDSuite’s current dataset for this area. Investors typically benchmark crime trends against Tallahassee metro patterns and national context to gauge relative risk and insurance implications.
Standard diligence steps include reviewing recent municipal or county reports, insurer loss data, and property-level incident history over multiple years to understand directionality rather than relying on a single snapshot.
This 120-unit, 2006-built property offers relative competitiveness versus an older neighborhood stock, positioning it well for workforce demand while still allowing room for modernization as systems reach mid-life. Based on commercial real estate analysis from WDSuite, the immediate neighborhood shows softer occupancy and a modest renter-occupied share, but the 3-mile radius indicates population growth and a rising renter concentration, which can broaden the tenant base and support lease-up and renewal efforts.
Elevated ownership costs relative to local incomes reinforce rental demand, yet rent-to-income signals call for disciplined revenue management. With average unit sizes near 890 square feet, the asset can appeal to a range of renter households; targeted value-add—focused on interiors and operational efficiencies—may enhance positioning against older comparables while maintaining affordability-sensitive retention.
- 2006 vintage offers competitive positioning versus older neighborhood stock, with mid-life upgrade potential.
- 3-mile radius shows population growth and expanding renter share, supporting a larger tenant base over time.
- Elevated ownership costs relative to income reinforce ongoing reliance on rental housing.
- Operational upside through leasing execution and value-centric amenity improvements.
- Risks: neighborhood occupancy lags metro norms; affordability pressure necessitates careful rent-step and retention strategy; limited nearby grocery/cafe options.