| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Good |
| Demographics | 63rd | Good |
| Amenities | 28th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2425 Mission Rd, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1980 |
| Units | 112 |
| Transaction Date | 2020-08-28 |
| Transaction Price | $4,520,000 |
| Buyer | MISSION HILLS PRESERVATION LP |
| Seller | MISSION HILLS APARTMENTS LTD |
2425 Mission Rd Tallahassee Multifamily Value-Add Play
Neighborhood data points to a deep renter pool and younger household mix that can support leasing durability, according to WDSuite s CRE market data, while older-vintage assets in this area often trade on renovation potential.
An Inner Suburb pocket of Tallahassee with an A- neighborhood rating, this area ranks 31 out of 143 metro neighborhoods placing it in the top quartile locally. Grocery access is a relative strength (high concentration by national comparison), and restaurants are competitive versus many U.S. neighborhoods, while parks, pharmacies, and cafes are limited within the neighborhood boundary. These mixed amenities suggest daily needs are convenient, with fewer discretionary lifestyle options nearby.
Construction trends skew newer locally (average 1990), while this property s 1980 vintage is older than the surrounding stock a setup that often supports value-add strategies such as interior upgrades and systems modernization to improve competitive positioning. Neighborhood per-unit NOI levels sit modestly above the national median, based on WDSuite s CRE market data for the area, indicating workable operating fundamentals but not outsized performance.
Tenure patterns favor rentals: at the neighborhood level, renter-occupied housing is the majority, and within a 3-mile radius the renter share of housing units is even higher. For investors, that depth of renter-occupied stock translates to a broad tenant base for smaller-format units and conventional floor plans alike.
Within a 3-mile radius, demographics skew young (a large share of 18 34) and household counts have been rising, with projections indicating further population growth and a notable increase in households. Smaller average household sizes are expected to persist, which typically supports demand for studios and one-bedrooms and can help stabilize occupancy across economic cycles.
Home values in the immediate neighborhood sit on the lower end nationally, yet the value-to-income ratio measures high versus U.S. norms. That mix lower absolute values but elevated relative costs to local incomes can keep renter reliance on multifamily housing steady. At the same time, neighborhood occupancy has trailed national benchmarks, so leasing strategies should emphasize retention and targeted upgrades to drive absorption.
Relative to neighborhoods nationwide, this area sits below the national median on safety indicators, with violent and property offense measures reflecting weaker standing versus U.S. peers. Within the Tallahassee metro, the neighborhood s crime rank is near the middle of 143 neighborhoods, indicating conditions that are closer to metro averages than to the best-performing sub-areas.
For investors, this suggests underwriting should account for security-minded property operations and lighting/access improvements. Monitoring trend direction is advisable, as comparative safety performance can influence leasing velocity and renewal behavior.
Built in 1980 with 112 units, the property offers a practical value-add runway in a neighborhood that ranks in the top quartile within the Tallahassee metro. A high concentration of renter-occupied housing and a large 18 34 cohort within a 3-mile radius point to a durable tenant base for smaller formats. According to CRE market data from WDSuite, neighborhood occupancy has lagged national norms, so renovations and focused leasing can be important levers to enhance absorption and rent realization.
Forward-looking demographics show population growth and a substantial increase in households within 3 miles, supporting a larger renter pool over time. While home values are relatively low in absolute terms, the area s value-to-income ratio trends high, reinforcing the role of rentals; however, rent-to-income metrics indicate affordability pressure that warrants careful rent management and amenity positioning.
- 1980 vintage positions the asset for value-add upgrades to improve competitiveness versus newer local stock
- Deep renter-occupied base locally and within 3 miles supports tenant demand and leasing durability
- Household and population growth in the 3-mile radius expand the future renter pool
- Amenity mix favors daily needs (groceries, restaurants) though parks/cafes are limited within the neighborhood
- Key risks: below-national neighborhood occupancy and rent-to-income pressure require disciplined leasing and retention strategies