| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 62nd | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1835 W Call St, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1993 |
| Units | 75 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1835 W Call St Tallahassee Multifamily Investment
High renter concentration and strong everyday amenities underpin steady renter demand in the surrounding neighborhood, according to WDSuite’s CRE market data. Neighborhood occupancy, renter demand, and amenity depth are measured for the area, not the property.
Located in an Inner Suburb of Tallahassee, the neighborhood posts an A rating and ranks 14 out of 143 metro neighborhoods, signaling competitive fundamentals among Tallahassee peers. Restaurant, cafe, grocery, and pharmacy density are standouts — restaurant and cafe counts track in the mid‑90s nationally by percentile — supporting daily convenience and leasing appeal. Limited park and childcare density, however, may modestly temper family‑oriented appeal.
The asset’s 1993 vintage is newer than the area’s average construction year (1985), which generally supports competitive positioning versus older stock while still leaving room to budget for system updates and value‑add finishes over a hold.
Renter-occupied housing is very prevalent at the neighborhood level (among the highest shares in the metro), indicating a deep tenant base for multifamily. Neighborhood occupancy trends sit below the national middle of the pack, so operators should prioritize leasing velocity and renewal management; even so, above‑median neighborhood NOI per unit versus metro peers suggests income performance remains serviceable for well‑managed assets.
Within a 3‑mile radius, population and households have expanded over the past five years, with forecasts pointing to further gains by 2028. This points to a larger tenant base and supports occupancy stability for workforce and student‑oriented product. Median household incomes in the 3‑mile radius are rising, yet rent‑to‑income metrics at the neighborhood level reflect some affordability pressure, implying the need for disciplined rent growth strategies and targeted amenity upgrades rather than premium repositioning.
Safety indicators for the neighborhood trend below national averages: national percentiles for crime are in the lower ranges (property crime around the bottom decile and violent crime in the mid‑teens), indicating higher incidence relative to U.S. neighborhoods. Within the Tallahassee metro, ranks around 80–82 out of 143 place the area below the metro median.
Investors typically underwrite with enhanced security measures, lighting, and access controls, along with partnership strategies for community policing. Trend monitoring is advisable given recent one‑year increases in offense rates; underwriting should reflect conservative assumptions on loss and operating expenses.
The neighborhood’s A rating, dense daily‑needs amenities, and very high renter concentration support consistent leasing fundamentals for a 75‑unit asset. The 1993 vintage is relatively newer than local stock, offering a balance of in‑place competitiveness and clear value‑add pathways through modernization. According to CRE market data from WDSuite, neighborhood occupancy sits below national midpoints, so the thesis centers on disciplined operations, amenity‑driven retention, and rent management calibrated to local affordability.
Within a 3‑mile radius, population and household growth — with additional gains forecast by 2028 — point to an expanding renter pool that can help support occupancy stability. Amenity strength and above‑median neighborhood NOI per unit versus metro peers reinforce income durability for well‑managed properties, while security and expense controls remain important given below‑average safety readings.
- High renter-occupied share in the neighborhood supports a deep tenant base and renewal potential.
- 1993 vintage offers competitive positioning versus older area stock with practical value‑add upside.
- Strong daily‑needs amenity density (restaurants, cafes, groceries, pharmacies) aids leasing and retention.
- Expanding 3‑mile population and household counts support demand for multifamily units through the forecast period.
- Risks: below‑median neighborhood occupancy and lower national safety percentiles call for conservative rent growth, security investments, and vigilant expense control.