| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 50th | Good |
| Demographics | 39th | Fair |
| Amenities | 0th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1320 Lake Ave, Tallahassee, FL, 32310, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1974 |
| Units | 52 |
| Transaction Date | 2020-04-28 |
| Transaction Price | $1,400,000 |
| Buyer | TINLIN PROPERTIES LLC |
| Seller | KELLEY PAULA |
1320 Lake Ave, Tallahassee FL Multifamily Investment
Renter-occupied concentration and steady household growth within a 3-mile radius point to durable tenant demand, according to WDSuite’s CRE market data. Neighborhood occupancy trails metro norms, so returns will hinge on hands-on operations and pricing discipline.
This Inner Suburb location in Tallahassee shows a high share of renter-occupied housing at the neighborhood level, indicating a deep tenant pool for workforce-oriented units. Within a 3-mile radius, population and household counts have expanded and are projected to increase further, supporting leasing velocity and renewal potential even as local occupancy sits below the metro median.
Amenity density is limited in the immediate neighborhood (restaurants, cafes, grocery, parks rank near the bottom among 143 metro neighborhoods), which makes on-site features and convenient access routes more important to retention. Neighborhood schools rate below metro averages, so demand is likely driven more by access and value than by school considerations.
At the neighborhood level, median contract rents benchmark closer to the lower end nationally, while the rent-to-income ratio signals some affordability pressure. For investors, this combination can support occupancy stability with careful lease management and measured renewals. Home values in the neighborhood are elevated relative to local incomes, which tends to sustain reliance on rentals and can reduce move-outs to ownership, a dynamic often highlighted in multifamily property research.
Demographic statistics are aggregated within a 3-mile radius: a sizable 18–34 renter cohort underpins demand, household sizes have trended modestly, and forecasts show continued population and household growth. These trends support a larger tenant base over the medium term, offsetting the neighborhood’s lower amenity scores.
Safety indicators for this neighborhood are below the metro median among 143 Tallahassee neighborhoods and sit below national averages. However, recent trends point to improvement, with year-over-year declines in violent offenses, suggesting conditions have been moving in a more favorable direction.
Investors should underwrite prudent security and property management practices, recognizing that submarket-level crime dynamics can vary by block and over time. Monitoring trend direction and staying aligned with local best practices can help support resident retention and property performance.
Employer distance data suitable for bulleting was not available from WDSuite for this address at the time of publication.
The investment case centers on a deep local renter base and expanding households within a 3-mile radius, supporting tenant demand for a 52-unit community. Neighborhood occupancy is below the metro median, so performance will rely on disciplined operations, resident experience, and targeted pricing. According to CRE market data from WDSuite, neighborhood rents sit toward the lower end nationally relative to incomes, which can aid lease-up and retention with thoughtful renewal strategies.
Limited nearby amenities and below-average school ratings suggest value- and access-driven demand rather than school-driven premiums. Elevated ownership costs relative to local incomes reinforce reliance on rentals, supporting demand depth if management focuses on convenience, responsiveness, and cost-effective turns.
- Large renter-occupied share and growing 3-mile households support a resilient tenant base
- Neighborhood rents skew lower nationally, aiding absorption and renewal flexibility
- Elevated ownership costs versus incomes help sustain rental reliance and retention
- Operational upside: below-metro occupancy heightens the value of active management
- Risks: limited amenities, below-average school ratings, and safety metrics below metro median