| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 65th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1901 Portland Ave, Tallahassee, FL, 32303, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1978 |
| Units | 32 |
| Transaction Date | 1996-12-18 |
| Transaction Price | $350,000 |
| Buyer | KOELEMIJ JOHANNES J |
| Seller | PORTLAND TERRACE LTD |
1901 Portland Ave Tallahassee Multifamily Opportunity
Renter concentration and steady 3‑mile household growth point to durable leasing fundamentals, according to WDSuite’s CRE market data.
Positioned in an Inner Suburb of Tallahassee, the neighborhood rates A and ranks 17 out of 143 metro neighborhoods, placing it in the top quartile locally. Amenities are adequate for daily needs with restaurants, cafes, parks, and grocery options comparing favorably to many areas in the metro, though pharmacy access is limited within the immediate area. These dynamics support day-to-day livability that helps retention, while leaving room for targeted service additions by nearby retailers.
The neighborhood’s housing stock skews newer than the property’s 1978 vintage (neighborhood average construction year 2004). For investors, the older vintage can translate into value-add and capital planning opportunities to sharpen competitive positioning against newer comparables, particularly given the property’s smaller average unit size that may appeal to efficiency-focused renters.
Renter-occupied housing is substantial in the neighborhood (near half of units are renter-occupied, competitive among Tallahassee neighborhoods and high in national terms), indicating depth in the tenant base. Neighborhood occupancy has been stable with modest improvement in recent years, supporting income consistency; however, it trails stronger national benchmarks, suggesting that hands-on leasing and renewals remain important for performance.
Within a 3-mile radius, demographics skew young (a large share of residents are 18–34), and households increased over the last five years with additional growth projected. Population growth and a rising household count point to a larger tenant base over time, which tends to support occupancy stability for well-managed assets. Home values are relatively modest in dollar terms but ownership looks costlier relative to local incomes (high national percentile for value-to-income), reinforcing reliance on rental housing and supporting demand. At the same time, elevated rent-to-income in the neighborhood signals affordability pressure that should be managed through thoughtful pricing and renewal strategies.
Safety indicators sit below national averages for comparable neighborhoods. Crime conditions are weaker than many U.S. areas (around the lower third nationally), and the neighborhood ranks 53 out of 143 within the Tallahassee metro, indicating it is below the metro median for safety. That said, recent trend data shows improvement, with both violent and property offense rates declining over the last year, according to CRE market data from WDSuite.
For investors, the takeaway is to underwrite with prudent security and operational measures in mind, while noting the improving trajectory. Comparative positioning within the metro and the downward trend can support leasing when paired with visible safety practices and resident engagement.
This 32-unit property built in 1978 offers a value-add angle in a top-quartile Tallahassee neighborhood where renter concentration is high and the 3-mile area shows population growth and a rising household count. The submarket’s livability, coupled with a younger renter profile, supports demand for compact, efficiency-oriented layouts. According to CRE market data from WDSuite, neighborhood occupancy has trended modestly higher, and ownership costs relative to incomes tend to sustain reliance on rentals, which can aid leasing durability.
Key considerations include managing affordability pressure (rent-to-income is elevated in neighborhood measures) and addressing competitive pressure from newer stock through targeted renovations and operational execution. Improving safety trends are a constructive signal, but investors should still plan for visible security protocols and resident communication to support retention.
- High renter concentration and young 3-mile demographics support a deep tenant base and steady leasing.
- 1978 vintage creates clear value-add and modernization potential versus newer neighborhood stock.
- Neighborhood ranks top quartile in the metro with solid amenity access that aids retention.
- Ownership costs relative to incomes reinforce renter reliance, supporting occupancy stability.
- Risks: below-average safety nationally and affordability pressure require prudent pricing, security, and renewal strategies.