| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 65th | Good |
| Amenities | 70th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1021 Idlewild Dr, Tallahassee, FL, 32311, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1979 |
| Units | 72 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1021 Idlewild Dr, Tallahassee FL Multifamily Opportunity
Neighborhood data points to a deep renter base and steady occupancy in the immediate area, according to WDSuite’s CRE market data, supporting multifamily screening in this inner-suburban Tallahassee location. The occupancy figure cited is for the neighborhood, not the property, and helps frame demand stability and leasing potential.
Situated in an Inner Suburb of Tallahassee, the neighborhood carries an A rating and ranks 11 out of 143 within the metro, which is competitive among Tallahassee neighborhoods. Amenity access trends are favorable: cafes, restaurants, groceries, and pharmacies index above national norms, helping with daily convenience and supporting renter appeal.
Neighborhood rent and income dynamics suggest workable affordability for a broad tenant base. Median contract rents sit near the metro middle while the rent-to-income ratio trends on the lower side locally, which can aid retention and reduce lease friction for professionally managed assets. In a high-level ownership context, home values in this area are lower relative to many U.S. neighborhoods, which can introduce some competition from entry-level ownership; however, pricing also supports workforce-oriented renter demand and leasing resilience.
Tenure patterns indicate a high share of renter-occupied housing units in the neighborhood, signaling depth in the local tenant pool and supporting demand for smaller footprints and efficient layouts. Within a 3-mile radius, demographics show recent population and household growth, with forecasts indicating further increases in households and income levels. This expansion of the renter pool can support occupancy stability and steady absorption for well-managed communities.
The average neighborhood construction year skews to 1990; with a 1979 vintage, this asset may trail newer competitive stock on systems and finishes. For investors, that suggests value-add and capital planning opportunities to improve relative positioning, capture renovation-driven rent premiums where feasible, and address long-term maintenance needs while keeping an eye on cost controls.
Safety indicators are mixed relative to regional and national benchmarks. The neighborhood’s crime rank is 45 out of 143 Tallahassee neighborhoods, placing it below the metro median on this measure, while national percentiles indicate it is less safe than many areas nationwide. Recent trend data shows year-over-year declines in both property and violent offense estimates, which is a constructive directional signal. Investors typically incorporate these dynamics into underwriting through tighter tenant screening, security enhancements, and marketing strategies calibrated to neighborhood perception.
This 1979-vintage, 72-unit property sits in a competitive Tallahassee Inner Suburb with solid amenity access and a renter-leaning housing stock. Neighborhood occupancy is steady and the share of renter-occupied units is high, supporting depth of demand for smaller, efficiently planned units. Within a 3-mile radius, recent and projected growth in households and incomes points to a larger tenant base over the medium term, which can support occupancy stability and measured rent optimization. Based on CRE market data from WDSuite, local rents trend near metro norms while rent-to-income levels appear manageable, a mix that can aid renewal rates and pricing discipline.
Relative to the neighborhood’s average 1990 vintage, a 1979 build suggests value-add and capital planning opportunities to modernize finishes and address aging systems, improving competitive positioning against newer stock. While a more accessible ownership market may occasionally compete with rentals, the area’s renter concentration and convenience to daily amenities help sustain multifamily demand through cycles.
- Renter-oriented neighborhood supports a deep tenant base and occupancy stability.
- Amenity-rich Inner Suburb location strengthens leasing and retention potential.
- 1979 vintage offers value-add and systems modernization opportunities.
- Local rents near metro norms with manageable rent-to-income trends aid renewal strategies.
- Risks: neighborhood safety ranks below metro median and ownership alternatives can compete with rental demand; underwriting should reflect security and pricing discipline.