| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 57th | Good |
| Demographics | 46th | Fair |
| Amenities | 46th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1210 Conklin St, Tallahassee, FL, 32310, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1973 |
| Units | 32 |
| Transaction Date | 2019-11-20 |
| Transaction Price | $2,100,000 |
| Buyer | SUMMIT CAPITAL PARTNERS TALLAHASSEE V LP |
| Seller | HIGH LEVEL HOLDINGS LLC |
1210 Conklin St, Tallahassee FL Multifamily Investment
Renter concentration in the surrounding neighborhood and strong per‑unit income benchmarks point to durable leasing potential, according to WDSuite’s CRE market data. The asset’s older vintage may position it for targeted value‑add to compete against newer stock.
Located in an Inner Suburb of Tallahassee, the neighborhood scores A- overall and ranks 30 out of 143 metro neighborhoods, placing it competitive within the metro. Dining and recreation access are notable: restaurants rank 1st of 143 and parks rank 1st of 143, with both categories testing in the top percentiles nationally. Grocery options also compare favorably (7th of 143), while pharmacies, cafes, and childcare are thinner locally—an amenity mix that supports daily needs but may require short trips for certain services.
The area’s renter-occupied share is elevated relative to most neighborhoods (94th percentile nationally), signaling a deep tenant base for studios and smaller formats. Neighborhood occupancy has trended upward over the past five years, but levels remain below nationally competitive submarkets, suggesting careful lease management and asset-level differentiation will matter for stabilization.
Homeownership remains a high-cost proposition relative to local incomes (value-to-income near the 90th percentile nationally), which can sustain reliance on rental housing and support pricing power when operations are well executed. Median home values in the immediate neighborhood are comparatively low in absolute terms, but the ownership cost burden versus income reinforces multifamily demand rather than encouraging rapid move-out to ownership.
Within a 3-mile radius, population and household counts have grown and are projected to continue rising through the next five years, pointing to a larger tenant base and continued renter demand. Household sizes have edged down historically, which typically supports demand for smaller unit mixes like the subject’s average unit size, while forward forecasts indicate a modest uptick that still aligns with diversified multifamily formats.
Safety indicators are mixed. The neighborhood’s crime profile sits below national norms (around the 38th percentile nationwide), and within the Tallahassee metro it ranks 50 out of 143 neighborhoods—an area where investors often emphasize lighting, access controls, and community engagement to support retention. Recent trend data is constructive, with both violent and property offenses showing year-over-year declines, which is a positive directional signal to monitor.
Major employer proximity data with precise distances is not available in WDSuite for this address at this time. Investors should consider commuting access to Tallahassee’s state government, education, healthcare, and services corridors when assessing leasing depth and retention.
Built in 1973, the property is older than the neighborhood’s average vintage, creating a straightforward value‑add path through interior updates and selective system upgrades to improve competitive positioning. Neighborhood fundamentals are supportive: high renter-occupied share, strong per‑unit NOI benchmarks among Tallahassee neighborhoods, and robust food, park, and grocery access. At the same time, below‑trend occupancy at the neighborhood level underscores the need for hands‑on leasing strategy and amenity differentiation.
Within a 3‑mile radius, population and household growth—alongside forecasts for continued expansion—suggest a growing renter pool that can support occupancy stability. Pricing strategy should account for identified affordability pressure locally; however, according to CRE market data from WDSuite, reliance on rental housing remains elevated relative to ownership, which can support steady demand for well‑managed assets.
- Older 1973 vintage offers clear value‑add and modernization upside
- High renter-occupied share indicates deep tenant base and lease-up resiliency
- Strong neighborhood NOI per unit and top-tier access to restaurants/parks support competitiveness
- 3‑mile population and household growth expands the prospective renter pool
- Risk: neighborhood occupancy trails stronger submarkets; proactive leasing and asset upgrades are important