| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 47th | Fair |
| Demographics | 44th | Fair |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1560 High Rd, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 2004 |
| Units | 34 |
| Transaction Date | 2010-04-06 |
| Transaction Price | $1,975,000 |
| Buyer | THE FLATS ON HIGH LLC |
| Seller | 1560 HIGH ROAD LLC |
1560 High Rd Tallahassee 34-Unit Multifamily Investment
Neighborhood occupancy has trended upward and renter concentration is very high, supporting a stable tenant base, according to WDSuite’s CRE market data. Built in 2004, the asset competes well against older nearby stock while benefiting from steady renter demand.
Located in an Inner Suburb of Tallahassee, the property sits in a neighborhood rated B with a renter-occupied share that is among the highest in the metro. This depth of renter demand supports leasing velocity and helps sustain occupancy through cycles, per WDSuite’s commercial real estate analysis.
Amenities are mixed: dining options are comparatively dense for the area (restaurant presence ranks competitive among Tallahassee neighborhoods and sits above the national average), and parks access is strong, landing in the top decile nationally. Daily-needs retail such as grocery, cafes, and pharmacies are limited within the immediate neighborhood, so residents typically rely on nearby corridors.
The 3-mile radius skews young-adult with a large 18–34 population share and has seen recent population and household growth, with households projected to expand further. This trend points to a larger tenant base and supports occupancy stability for well-positioned multifamily assets.
Median home values are relatively low for the region, which can introduce some competition from ownership alternatives. For operators, this environment favors product differentiation and service quality to drive retention, while rent-to-income levels suggest thoughtful lease management is important for minimizing turnover risk.
Vintage matters here: the average nearby construction year is 1973, while this property was built in 2004. The newer vintage provides a competitive edge versus older stock and may reduce near-term capital exposure, though targeted updates can still enhance positioning and support rent premiums.
Safety indicators are mixed compared with both the metro and national landscape. Within Tallahassee (143 neighborhoods), the area sits in the higher-crime half, while nationally it falls below the median safety percentile. Property offenses have improved recently with a year-over-year decline, signaling some stabilization.
Investors should calibrate underwriting to reflect these dynamics—strong on-site management, lighting, and access control can support resident retention and mitigate risk, especially when combined with the neighborhood’s deep renter base.
Built in 2004 with 34 units averaging 756 square feet, the property offers a newer-vintage profile in a neighborhood where the typical building stock is older. The submarket shows rising neighborhood occupancy and very high renter concentration, supporting demand durability and lease-up consistency—trends that, according to CRE market data from WDSuite, have persisted alongside growth in the local 3-mile population and household counts.
Parks access and dining options bolster livability, while the ownership market’s relatively low home values may introduce some competition for price-sensitive renters. Affordability considerations (elevated rent-to-income in the neighborhood) and a safety profile that trails national medians suggest disciplined rent setting and active management, but the asset’s vintage and location fundamentals position it competitively against older alternatives.
- Newer vintage (2004) versus older local stock supports competitive positioning and potential renovation upside.
- Very high renter-occupied share in the neighborhood deepens the tenant base and supports occupancy stability.
- 3-mile population and household expansion point to sustained multifamily demand and leasing resilience.
- Strong parks access and solid dining presence enhance livability and retention potential.
- Risks: below-median national safety metrics and affordability pressure call for disciplined underwriting and proactive operations.