| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 39th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1242 Stuckey Ave, Tallahassee, FL, 32310, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1974 |
| Units | 48 |
| Transaction Date | 2019-08-16 |
| Transaction Price | $2,868,600 |
| Buyer | PROVIDENCE UNITED LLC |
| Seller | BMG 48 LLC |
1242 Stuckey Ave, Tallahassee Multifamily Investment
Stable renter demand and value-add potential are supported by a high renter concentration in the surrounding area and improving neighborhood performance, according to WDSuite’s CRE market data.
The property sits in an Inner Suburb of Tallahassee with a renter-driven housing base. Within a 3-mile radius, statistics show a large share of housing units are renter-occupied, indicating depth in the tenant pool and supporting leasing stability for multifamily assets. Population and household counts within this radius have grown historically and are forecast to expand further, pointing to continued renter pool expansion that can underpin occupancy.
Neighborhood fundamentals are mixed. Occupancy in the neighborhood ranks below the metro median among 143 Tallahassee neighborhoods and tracks below national norms, yet five-year trends point to improvement. For investors, that suggests careful lease management remains important while the direction of change is constructive.
Livability signals are modest: local walkable amenities such as groceries, parks, cafes, and childcare are limited within the immediate neighborhood compared with other parts of the metro. Average school ratings are lower than many areas (below the national median), which can matter for family renters; positioning toward workforce and student-oriented demand may be more effective.
Home ownership costs in the neighborhood are elevated relative to local incomes (high value-to-income ratio, top quartile nationally), which tends to reinforce reliance on rental housing. For multifamily investors, that dynamic can support retention and pricing power when paired with prudent affordability strategies (e.g., unit mix and rent-to-income targets) to manage renewal risk.
Safety indicators place the neighborhood roughly in the middle of the pack within the Tallahassee metro (competitive among 143 neighborhoods), while benchmarking below the national median. Recent year-over-year data show declines in both violent and property offense rates, signaling an improving trend, based on WDSuite’s compiled public safety metrics.
Investors should evaluate property-level measures (lighting, access control) and review recent comps, as neighborhood-level averages can differ from specific block conditions. Continued monitoring of trend direction is advisable given the below-national standing.
Built in 1974, the asset offers classic-vintage positioning with potential for targeted renovations and operational upgrades to enhance competitiveness against newer stock. The surrounding 3-mile radius shows strong renter-occupied housing share and expanding households, which supports a larger tenant base and can help sustain occupancy. Ownership remains relatively high-cost versus local incomes, a combination that typically sustains demand for rental options. According to CRE market data from WDSuite, the neighborhood’s occupancy has trailed metro norms but has been improving, suggesting upside with disciplined leasing and asset management.
Livability signals are modest and average school ratings are lower, implying the property may perform best when oriented to value-seeking renters. Prudent capital planning for an older vintage, paired with affordability-aware rent setting, can balance retention and rent growth while mitigating exposure to lower neighborhood rankings.
- Deep local renter base within 3 miles supports tenant demand and occupancy stability
- 1974 vintage offers viable value-add and systems/finish upgrades to improve competitiveness
- High-cost ownership context reinforces reliance on rentals, aiding retention and leasing
- Neighborhood occupancy trending upward, creating operational upside with disciplined leasing
- Risk: below-median safety and limited nearby amenities require focused asset management and resident experience