| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 61st | Best |
| Demographics | 23rd | Poor |
| Amenities | 44th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2202 Magnolia Cir, Tallahassee, FL, 32301, US |
| Region / Metro | Tallahassee |
| Year of Construction | 2001 |
| Units | 38 |
| Transaction Date | 2021-07-27 |
| Transaction Price | $4,170,000 |
| Buyer | SAR TALLAHASSEE LLC |
| Seller | DKS HOUSING SUB I LLC |
2202 Magnolia Cir Tallahassee Multifamily Investment
Renter demand is supported by a very high renter-occupied share in the neighborhood and steady 3-mile household growth, according to WDSuite s CRE market data. The property s 2001 vintage offers competitive positioning versus older local stock.
Located in an Inner Suburb of Tallahassee with an A- neighborhood rating, the area ranks 33rd among 143 metro neighborhoods, placing it in the competitive tier locally. Amenity access is a relative strength: cafes (ranked 4th of 143), restaurants (14th), and grocery options (10th) are accessible by metro standards, while parks and pharmacies are limited. These dynamics help with day-to-day convenience for residents, though the scarcity of parks and pharmacies suggests some services may require longer trips.
The neighborhood has a very high share of renter-occupied housing (ranked 6th out of 143), indicating deep renter concentration that can underpin multifamily demand and leasing velocity. By contrast, the latest neighborhood occupancy reading is below the metro median (ranked 99th of 143), signaling the need for disciplined leasing execution and asset management to maintain stability.
Within a 3-mile radius, demographics point to a larger tenant base over time: population and household counts have risen over the last five years, with additional growth forecast, and renters account for a substantial share of occupied housing. This renter pool expansion supports occupancy stability and absorption potential as units turn. Median contract rents in the 3-mile area have trended upward, which can aid revenue management while still requiring attention to affordability for retention.
The property s 2001 construction is materially newer than the neighborhood s average vintage of the 1970s. Newer construction generally supports competitive positioning against older inventory, while still warranting routine capital planning for systems and common areas as the asset moves deeper into its lifecycle. Elevated home values relative to local incomes (top tier nationally by value-to-income ratio) reinforce reliance on rental housing, which can support tenant retention and pricing power for well-managed multifamily assets.
Safety conditions are mixed relative to broader benchmarks. The neighborhood s crime ranking sits on the higher-crime side within Tallahassee (63rd of 143, where lower ranks indicate more crime) and compares below average nationally (around the lower third by percentile). For investors, this suggests focusing on on-site management practices and resident experience to support retention.
Trend signals are nuanced: recent estimates indicate property offenses have risen year over year, while violent offense rates declined at a meaningful pace. Taken together, these trends point to the importance of standard risk mitigation and partnership with local patrol resources rather than a thesis-changing concern. All figures reflect neighborhood-level patterns and not the property itself.
This 38-unit, 2001-vintage asset benefits from a renter-heavy neighborhood and a growing 3-mile tenant base, supporting ongoing leasing demand. Newer construction relative to the area s older stock provides a competitive edge for operations and unit finish positioning, while elevated ownership costs in the area sustain reliance on multifamily. According to CRE market data from WDSuite, neighborhood occupancy trends sit below the metro median, which makes active leasing strategy and renewal management key to performance.
Forward-looking 3-mile demographics indicate continued population and household growth, which can support absorption and occupancy stability. Amenity access is favorable for daily needs (restaurants, cafes, grocery), though limited parks and pharmacies and below-median neighborhood occupancy underscore the need for attentive asset management. Affordability pressure at the neighborhood level suggests careful rent-to-income monitoring to balance pricing power with retention.
- Renter-heavy neighborhood supports deep tenant demand and leasing velocity
- 2001 vintage competes well versus older local stock, with manageable capital planning
- Growing 3-mile population and households expand the renter pool and support occupancy
- Elevated ownership costs reinforce reliance on rental housing, aiding retention and pricing
- Risks: below-metro neighborhood occupancy, mixed safety metrics, and affordability pressure require disciplined operations