| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 62nd | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 205 White Dr, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1974 |
| Units | 32 |
| Transaction Date | 1998-04-30 |
| Transaction Price | $691,400 |
| Buyer | VILLA SAN CARLO L L C |
| Seller | ART WHITE PINES ASSOC LTD |
205 White Dr Tallahassee Multifamily Investment
Renter demand is supported by a dense amenity mix and a high neighborhood renter concentration, according to WDSuite’s CRE market data. Investors should underwrite for steady leasing interest while planning for an older 1970s vintage.
Location and daily needs: The neighborhood shows strong access to food and convenience retail, with restaurant and grocery density ranking competitive among Tallahassee’s 143 neighborhoods, and amenity strength that trends above national averages. Limited park and childcare options suggest fewer family-oriented amenities immediately nearby, which can skew demand toward students and young professionals.
Rents, occupancy, and tenure: Neighborhood occupancy has been relatively stable with a modest recent uptick, but it sits below national norms, signaling the need for active leasing and renewals. At the same time, renter-occupied housing is very prevalent both in the neighborhood and within the 3-mile area, indicating a deep tenant base that supports multifamily absorption and ongoing demand for smaller, budget-conscious units.
Demographics within 3 miles: A large 18–34 cohort and growth in household counts point to a larger tenant pool over the next several years, which can support occupancy stability and leasing velocity. Forecasts indicate further increases in households by 2028, suggesting more renters entering the market and a broader base for renewals and new lease-up.
Vintage context: The property’s 1974 construction is older than the neighborhood’s average stock (1985), which raises capital planning needs but also creates value-add potential via renovations that can improve competitive positioning against newer inventory.
Relative standing in the metro: Overall neighborhood quality ranks competitive among Tallahassee neighborhoods (14th out of 143), while amenity access such as cafes, groceries, and pharmacies sits near the top of the metro. This mix points to solid day-to-day livability that tends to reinforce renter interest, even as investors should manage for below-median metro occupancy performance.
Safety indicators trend below national averages, with neighborhood crime measures positioned below the metro median (82 out of 143). National percentiles point to weaker relative safety compared with many U.S. neighborhoods, so prudent security measures and on-site management practices can be important for tenant retention and leasing.
Investors should review recent, property-level incident trends and collaborate with local stakeholders on improvements, focusing on actions that support resident confidence without relying on block-level claims.
This 32-unit, 1974-vintage asset sits in a renter-heavy Tallahassee neighborhood with strong proximity to daily needs. According to CRE market data from WDSuite, amenity access is competitive within the metro, while neighborhood occupancy has been stable but below national norms—making disciplined leasing, renewals, and targeted upgrades essential to sustain performance.
Within a 3-mile radius, a large 18–34 population and projected household growth point to renter pool expansion that can support absorption and retention. The older vintage relative to neighborhood averages underscores value-add and capital planning opportunities to modernize interiors and common areas, improving competitive standing versus newer stock and supporting pricing power where affordability allows.
- Renter-heavy area with strong amenity access supporting steady leasing interest
- 1974 vintage offers clear value-add and renovation upside versus newer neighborhood stock
- 3-mile household growth and a large 18–34 cohort expand the tenant base and support occupancy stability
- Active management recommended: neighborhood occupancy below national norms and safety indicators below metro median
- Lease management considerations around rent-to-income suggest careful renewal strategies to balance retention and pricing