| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 55th | Good |
| Amenities | 40th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1447 Stone Rd, Tallahassee, FL, 32303, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1990 |
| Units | 104 |
| Transaction Date | 2021-06-22 |
| Transaction Price | $9,437,500 |
| Buyer | 1447 STONE ROAD LLC |
| Seller | PLANTERS CROSSING LLC |
1447 Stone Rd, Tallahassee FL Multifamily Investment
Renter-occupied housing is prevalent in the surrounding neighborhood, supporting a deep tenant base and consistent leasing, according to WDSuite’s CRE market data. Neighborhood occupancy trends are steady, with demand supported by nearby services and a growing household base.
This Inner Suburb location in Tallahassee scores competitively among the metro’s 143 neighborhoods (A- neighborhood rating; rank 29 of 143), indicating balanced fundamentals for workforce-oriented multifamily. Restaurant density ranks near the top of the metro (rank 10 of 143; top quartile nationally by percentile), while grocery access is above the metro median. By contrast, parks, cafes, and pharmacies are limited within the immediate neighborhood, suggesting on-site amenities and resident programming can play a larger role in retention.
Neighborhood rent levels sit near the middle of the national distribution and are competitive among Tallahassee neighborhoods, which helps sustain absorption without over-reliance on concessions. The neighborhood occupancy rate tracks slightly below the metro median but has edged higher over the past five years, pointing to stable demand rather than overheating.
Renter concentration is high at the neighborhood level, with a majority of housing units renter-occupied, which deepens the leasing pool for multifamily assets and supports ongoing demand. Within a 3-mile radius, demographic trends show population growth and an increase in households, resulting in a larger tenant base and supporting occupancy stability for smaller-unit product types.
Home values in the neighborhood are moderate relative to national benchmarks. This ownership landscape can introduce some competition from entry-level buying, but rent-to-income levels in the area suggest manageable affordability pressure for renters, supporting lease retention and pricing discipline for well-managed assets.
Safety indicators are mixed when compared with Tallahassee and national benchmarks. The neighborhood’s crime profile ranks below average versus other Tallahassee neighborhoods (rank 77 of 143), and national percentiles place the area below the middle of U.S. neighborhoods for safety. Recent trends show a year-over-year decrease in violent offenses, while property offenses increased over the same period, indicating improvement in one category offset by softness in another.
For investors, the takeaway is to underwrite sensible security measures and resident engagement, recognizing that safety performance is improving in violent categories but remains an operational focus area for property management.
Built in 1990, the property is slightly newer than the neighborhood’s average vintage, offering competitive positioning versus older stock while still presenting selective modernization opportunities that can elevate rent capture. The immediate neighborhood supports a sizable renter pool and shows steady occupancy, and according to CRE market data from WDSuite, local rent levels and rent-to-income dynamics point to manageable affordability pressure that can support retention and disciplined rent growth.
Within a 3-mile radius, population and household counts have increased and are projected to continue rising, expanding the tenant base for smaller-format units. Amenity access is strongest in dining and everyday groceries, with fewer parks, cafes, and pharmacies nearby—an operating context where on-site offerings and resident services can differentiate the asset.
- 1990 vintage: competitive versus older stock with targeted renovation and systems upgrades to enhance positioning
- High neighborhood renter-occupied share supports a deep leasing pool and demand resilience
- 3-mile demographic growth expands the renter base, supporting occupancy stability
- Rent levels and rent-to-income dynamics support retention and measured pricing power
- Risks: safety metrics trail national medians and limited nearby parks/cafes/pharmacies—plan for security and on-site amenity strategies