| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 62nd | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 101 Cactus St, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1994 |
| Units | 24 |
| Transaction Date | 2024-01-24 |
| Transaction Price | $1,780,000 |
| Buyer | OGC TH 1 LLC |
| Seller | MOCKINGBIRD GARDEN APARTMENTS LLC |
101 Cactus St Tallahassee Multifamily Investment Opportunity
Renter demand is supported by a high neighborhood renter concentration and strong amenity access, according to WDSuite’s CRE market data. Focus is on occupancy stability at the neighborhood level rather than property-specific performance.
The property sits in Tallahassee’s Inner Suburb with an A neighborhood rating, ranking 14 out of 143 neighborhoods in the metro—top quartile among 143 metro neighborhoods. Amenity density is a clear strength: cafes and grocery stores rank near the top of the metro (each competitive among Tallahassee neighborhoods) and both sit in the mid-90s national percentiles, supporting day-to-day convenience that helps leasing and retention.
Renter-occupied share in the neighborhood is high (82.9% of housing units, rank 2 of 143; 99th percentile nationally), indicating a deep tenant base for multifamily. Neighborhood occupancy is measured at 83.1% (rank 104 of 143; 24th percentile nationally), so investors should underwrite for leasing velocity and management execution rather than assume tight conditions. Median contract rent at the neighborhood level trends near the national midpoint, while rent-to-income metrics (0.35; low national percentile) suggest some affordability pressure—pointing to the need for measured rent growth strategies and resident retention focus.
Within a 3-mile radius, demographics skew toward ages 18–34 and show modest population growth over the past five years with a larger increase in total households. Forward-looking projections indicate additional population growth and a notable increase in households through the next five years, signaling a potential expansion of the renter pool that can support occupancy stability over time.
Local dynamics present a mixed but investable profile: strong food, grocery, and pharmacy access (each above metro median and top quartile nationally) contrasts with limited park and childcare presence. For a 1994 vintage asset, this setting favors workforce and student-oriented demand drivers, with the submarket’s amenity depth helping offset softer neighborhood occupancy.
Safety indicators for the neighborhood sit below national medians, with overall crime in lower national percentiles and recent year-over-year upticks in both property and violent offense estimates. Compared with neighborhoods nationwide, these readings point to elevated risk relative to safer areas, so investors often plan for enhanced on-site security, lighting, and resident screening to support retention and operating stability.
At the metro level (143 neighborhoods), the area does not rank among the safest cohorts, and national percentiles place it below average for safety. Framing this as an operating variable—rather than a property-specific issue—helps align underwriting with practical measures such as access control, partnerships with local public safety resources, and thoughtful amenity programming.
Built in 1994, this 24-unit asset is newer than the neighborhood’s average vintage and can compete well against older stock while still offering value-add potential through targeted updates and systems modernization. The immediate area features strong amenity access and a high share of renter-occupied housing units, which supports a steady tenant pipeline. According to CRE market data from WDSuite, neighborhood occupancy trends are softer, so execution on leasing and renewals is a key driver of performance.
Within a 3-mile radius, population growth and a faster rise in household counts point to a larger tenant base ahead, reinforcing long-run demand for rental units. Affordability pressure signals the need for calibrated rent strategies and service-forward operations to sustain retention and reduce turnover costs.
- 1994 vintage offers competitive positioning vs. older stock with practical value-add and modernization upside
- High neighborhood renter concentration supports demand depth and leasing continuity
- Amenity-rich location (food, grocery, pharmacy) aids tenant retention and day-to-day convenience
- 3-mile demographic trends indicate growing households and a larger renter pool over the next five years
- Risks: softer neighborhood occupancy, affordability pressure, and safety considerations require active management and prudent underwriting