| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 62nd | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 217 White Dr, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1972 |
| Units | 69 |
| Transaction Date | 2002-08-30 |
| Transaction Price | $1,785,000 |
| Buyer | VILLA SAN CARLO II L L C |
| Seller | I G C H STONEGATE ASSOC LTD |
217 White Dr Tallahassee Multifamily Investment Opportunity
High renter concentration at the neighborhood level supports demand, according to WDSuite’s CRE market data, while occupancy trends in the neighborhood point to steady but competitive leasing conditions.
Located in an Inner Suburb of Tallahassee, the neighborhood ranks 14 out of 143 metro neighborhoods with an overall A rating, signaling it is competitive among Tallahassee neighborhoods for multifamily performance. Amenity density is a clear strength: neighborhood-level data show cafes, grocery, restaurants, and pharmacies concentrated at levels that outpace most of the metro and compare favorably nationwide. Childcare and parks are relatively limited, which may modestly temper appeal for family-oriented renters.
Renter-occupied share in the neighborhood is among the highest in the metro, indicating a deep tenant base and reinforcing demand for multifamily product. By contrast, neighborhood occupancy is below national norms, suggesting investors should plan for proactive leasing and management to maintain stability rather than assume automatic tightness.
Within a 3-mile radius, demographics show a large 18–34 population share and recent growth in households, with WDSuite’s dataset indicating further increases in households over the next five years. This points to a larger tenant base and continued renter pool expansion that can support occupancy and leasing velocity, particularly for well-located, efficiently sized units.
The property’s 1972 vintage is older than the neighborhood’s average construction year. That age profile highlights classic value-add and capital planning potential—modernizing interiors, systems, and common areas can enhance competitiveness versus newer stock while targeting durable renter demand. Neighborhood NOI per unit trends are competitive among Tallahassee neighborhoods, reinforcing the case for disciplined operations.
Neighborhood-level safety indicators suggest conditions are weaker than the national average, with national safety percentiles in the lower ranges for both property and violent offenses. Within the Tallahassee metro, the neighborhood sits around the middle of the pack when compared to 143 neighborhoods. Investors should underwrite with prudent security, lighting, and property management practices, and monitor trend direction over time rather than relying on a single-year snapshot.
This 69-unit asset combines a highly renter-oriented neighborhood with strong amenity access and a location that benefits from an expanding 3‑mile tenant base. According to CRE market data from WDSuite, the neighborhood’s renter-occupied share is among the metro’s highest, supporting demand depth, while amenity density (grocery, cafes, restaurants, pharmacies) enhances day-to-day convenience that can aid retention and leasing. Neighborhood occupancy trends are softer relative to national norms, so outcomes hinge on hands-on management and competitive positioning.
Built in 1972, the property is older than the neighborhood average, which underscores value-add potential and the need for targeted capital improvements to remain competitive. Household growth within 3 miles and projected increases over the next five years point to renter pool expansion, while rising incomes in the area support the case for measured rent positioning. At the same time, neighborhood rent-to-income levels and safety indicators call for thoughtful lease management and expense planning.
- Deep neighborhood renter base supporting multifamily demand
- Amenity-rich location that can aid leasing and retention
- 1972 vintage offers clear value-add and capex pathways
- 3-mile household growth points to renter pool expansion
- Risks: softer neighborhood occupancy, affordability pressure, and safety metrics require proactive management