| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 20th | Poor |
| Amenities | 8th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 620 Barack Obama Blvd, Quincy, FL, 32351, US |
| Region / Metro | Quincy |
| Year of Construction | 1982 |
| Units | 36 |
| Transaction Date | 2023-01-26 |
| Transaction Price | $1,386,000 |
| Buyer | PARKVIEW COMMUNITIES LLC |
| Seller | PARKVIEW MANOR LTD |
620 Barack Obama Blvd, Quincy FL Multifamily Investment
Neighborhood occupancy is around 91% with a renter-occupied base competitive within the Tallahassee metro, pointing to steady leasing fundamentals for workforce housing, according to WDSuite’s CRE market data.
Located in Quincy within the Tallahassee, FL metro, the neighborhood rates C- and is classified as Rural, which generally means quieter streets and fewer destination amenities. Amenity access is limited (amenities rank 89 among 143 metro neighborhoods; 8th percentile nationally), so residents rely on a small set of local options and nearby trips for services.
Essential retail access is reasonable by local standards: grocery density ranks 45 of 143, which is above the metro median and roughly average nationally. Dining, cafes, parks, and pharmacies are sparse within the neighborhood, which can modestly influence lifestyle appeal but also tends to align with workforce renter profiles seeking value and convenience to basics.
Multifamily dynamics are stable: neighborhood occupancy is about 91% (above metro median), and the renter-occupied share of housing units is 36.1%, which is competitive among Tallahassee neighborhoods. Median contract rents are low relative to national markets (16th percentile), helping sustain demand and lease retention, though it can temper near-term pricing power. The rent-to-income ratio sits near 0.11 (78th percentile nationally for affordability), suggesting manageable rent burdens that support renewal probability and reduce turnover risk.
Demographic statistics within a 3-mile radius indicate modest population growth over the last five years, even as household counts declined — a sign of larger household sizes (household size increased). Looking ahead, forecasts show household counts rising while population stays roughly flat and household size normalizes lower, which would expand the addressable renter pool and support occupancy stability, based on CRE market data from WDSuite.
Vintage context: the property was built in 1982, slightly older than the neighborhood’s average 1986 construction year. For investors, this typically means capital planning around building systems and interiors could unlock value-add potential and improve competitive positioning against newer stock in the submarket.
Comparable neighborhood safety metrics are not available in WDSuite for this location, so metro-relative rankings and national percentiles cannot be cited. Investors commonly benchmark safety by reviewing city and county trend data and touring at different times of day to understand on-the-ground conditions and how they compare with nearby Tallahassee-area neighborhoods.
This 36-unit, 1982-vintage asset in Quincy offers exposure to a workforce renter base with neighborhood occupancy near 91% and a renter-occupied share that is competitive within the Tallahassee metro. Low median contract rents and a favorable rent-to-income ratio point to retention advantages and a deeper tenant pool, while limited amenity density reflects a practical, value-oriented renter profile.
According to CRE market data from WDSuite, neighborhood fundamentals are above the metro median on occupancy, and 3-mile demographic trends point to a gradually expanding renter pool as household sizes normalize and household counts are projected to increase. Given the 1982 vintage, a focused value-add program targeting interiors and building systems may enhance rentability and help the property compete with newer stock, while acknowledging that rural amenity access and income sensitivity can constrain rent growth.
- Occupancy above metro median supports leasing stability
- Competitive renter-occupied share indicates depth in tenant demand
- Low rents and favorable rent-to-income ratio aid renewal and retention
- 1982 vintage offers value-add upside through targeted renovations
- Risks: rural amenity limitations and income sensitivity may cap near-term pricing