| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Good |
| Demographics | 65th | Good |
| Amenities | 56th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2660 Old Bainbridge Rd, Tallahassee, FL, 32303, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1995 |
| Units | 113 |
| Transaction Date | 2011-09-30 |
| Transaction Price | $3,210,000 |
| Buyer | PACFICA SPRINGWOOD LLC |
| Seller | SPRINGWOOD TWONHSIP LLC |
2660 Old Bainbridge Rd, Tallahassee Multifamily Investment
Neighborhood fundamentals point to a stable renter base and steady leasing potential, according to CRE market data from WDSuite, with occupancy trends holding and renter concentration supporting demand at the submarket level.
This Inner Suburb location in Tallahassee scores well for overall livability with an A neighborhood rating and ranks 17th among 143 metro neighborhoods, placing it in the top quartile locally. Amenity access is balanced: restaurants and cafes track above national midline, parks are accessible, and grocery options are present, though pharmacies are limited. For investors, this mix supports day-to-day convenience that can aid retention while highlighting potential for targeted services on-site.
Construction in the immediate area skews newer than this asset’s 1995 vintage (local average 2004). That age gap implies potential value-add through selective renovations and systems upgrades to stay competitive against younger stock. Average unit sizes around the property’s scale are typically well-placed for workforce and student-adjacent demand in Tallahassee’s North/Inner Suburb corridor.
Renter concentration in the neighborhood is elevated compared with national norms, indicating a deep tenant pool. Within a 3-mile radius, housing stock is predominantly renter-occupied at roughly two-thirds, which reinforces depth of demand and supports leasing velocity for mid-sized communities. Neighborhood occupancy has edged higher in recent years, which, together with a sizeable renter base, suggests resilience through normal cycles based on CRE market data from WDSuite.
Demographics within a 3-mile radius skew younger, with a large share of 18–34 year-olds and modest population growth historically. WDSuite’s projections point to population and household growth over the next five years, implying a larger tenant base and ongoing demand for rental units. Compared with national CRE trends, this neighborhood’s demographics and amenity mix are competitive among Tallahassee neighborhoods and above metro median on several lifestyle factors, a combination that typically supports occupancy stability.
On the ownership side, elevated value-to-income ratios relative to national benchmarks signal a high-cost ownership market in context of local incomes, which tends to sustain reliance on multifamily rentals. At the same time, rent-to-income ratios indicate some affordability pressure, suggesting careful lease management and amenity-driven retention strategies may be prudent.
Safety indicators in this neighborhood are mixed and warrant monitoring. Compared with neighborhoods nationwide, safety ranks below national averages. Within the Tallahassee metro, the area is 53rd of 143 neighborhoods, indicating comparatively higher crime than much of the region.
Recent trend data provides a constructive counterpoint: estimated violent and property offense rates have declined year over year, according to WDSuite’s CRE market data. For investors, the takeaways are practical—factor security and lighting upgrades into CapEx plans, leverage professional management practices, and track ongoing metro-wide trends rather than drawing conclusions from short windows of data.
Built in 1995, this 113-unit community sits in a top-quartile Tallahassee neighborhood where renter concentration and day-to-day amenities support a consistent tenant base. While the area’s housing stock trends newer, the asset’s earlier vintage points to actionable value-add through interior refreshes and modernization to improve competitive positioning. According to CRE market data from WDSuite, neighborhood occupancy has firmed in recent years, and the 3-mile radius shows a predominately renter-occupied housing mix with a younger demographic profile—factors that typically support leasing stability.
Forward-looking fundamentals are constructive: WDSuite’s 3-mile projections call for growth in population and households, expanding the renter pool. Ownership remains relatively costly in the local income context, reinforcing multifamily demand, though elevated rent-to-income ratios suggest prudent pricing and retention strategies are important. Net, the thesis favors steady demand with value-add upside and disciplined operations.
- Top-quartile neighborhood within Tallahassee (17th of 143) supports long-term renter demand
- 1995 vintage offers value-add potential versus newer local stock
- 3-mile radius skews renter-heavy and younger, aiding occupancy stability
- Macro context: elevated value-to-income ratios sustain rental reliance
- Risk: affordability pressure (rent-to-income) calls for careful pricing and retention management