| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 40th | Fair |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2030 Belle Vue Way, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1973 |
| Units | 44 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2030 Belle Vue Way, Tallahassee Multifamily Investment
High renter concentration in an inner-suburb setting supports a durable tenant base for stabilized operations, according to CRE market data from WDSuite. Neighborhood occupancy trends and amenity access suggest steady lease-up potential with disciplined management.
The property sits in a B+ rated Inner Suburb neighborhood that is competitive among Tallahassee neighborhoods (ranked 48 out of 143). According to WDSuite’s CRE market data, nearby retail and daily-needs access are a relative strength, while green space and cafe options are limited.
Amenity access skews toward essentials: the neighborhood ranks near the top of the metro for grocery availability (5 of 143) and is above the metro median for restaurants (24 of 143). By contrast, parks, pharmacies, and cafes are sparse within the neighborhood footprint, which may moderate lifestyle-driven premiums but still supports day-to-day convenience for residents.
For housing dynamics, neighborhood median contract rents are around the metro middle (rank 42 of 143), and the area has a notably high share of renter-occupied units (rank 7 of 143), indicating a deep tenant pool for multifamily. Overall neighborhood occupancy has been stable but sits below the stronger metro cohorts (rank 98 of 143), so performance typically hinges on hands-on leasing and renewals. Rent-to-income levels are elevated locally (low national percentile), which calls for careful pricing and renewal management to sustain retention.
Demographic indicators within a 3-mile radius point to ongoing renter demand: a large share of residents are ages 18–34, and both population and household counts have grown over the past five years, with projections indicating further household expansion. This pattern supports a larger tenant base over time and can underpin occupancy stability, particularly for well-managed workforce and student-oriented product.
Ownership costs in the neighborhood track on the lower end nationally, which can introduce competition from entry-level homebuying during favorable lending cycles. Even so, the strong renter concentration, daily-needs amenity access, and growing household base provide support for multifamily demand relative to the broader metro.
Safety metrics for the neighborhood trend weaker than both the metro median and national benchmarks, reflecting higher property and violent offense rates relative to many U.S. neighborhoods. However, recent year-over-year readings show declines in both violent and property offenses, suggesting gradual improvement. Investors typically underwrite with enhanced on-site management, lighting, and access controls in comparable locations to support leasing and retention.
Built in 1973, the asset is slightly older than the neighborhood’s average vintage, pointing to potential value-add through unit renovations and targeted capital projects to enhance competitiveness against newer stock. The surrounding neighborhood shows a high renter-occupied share and steady household growth within a 3-mile radius, reinforcing depth of tenant demand even as overall neighborhood occupancy trails stronger Tallahassee sub-areas. According to CRE market data from WDSuite, neighborhood-level income performance per unit is comparatively strong, which can support returns when paired with disciplined expense control and asset-specific improvements.
Day-to-day convenience via strong grocery access and solid restaurant density supports resident satisfaction, while the younger demographic mix expands the leasing funnel for studios and smaller floor plans. Counterbalancing factors include below-average safety readings and elevated rent-to-income levels, which argue for conservative rent growth assumptions and proactive renewal strategies.
- High renter concentration and growing 3-mile household base support sustained tenant demand
- 1973 vintage offers clear value-add and CapEx-driven upside versus newer competition
- Daily-needs convenience (strong grocery access) aids leasing and renewals
- Neighborhood NOI per unit compares favorably in the metro, per WDSuite data
- Risks: safety metrics below metro median and affordability pressure require active management