| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 44th | Fair |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 274 Ross Rd, Tallahassee, FL, 32305, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1988 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
274 Ross Rd Tallahassee Multifamily Investment Opportunity
The surrounding neighborhood shows a high renter concentration (about 68% of housing units are renter-occupied), supporting a deeper tenant base and steadier leasing, according to WDSuite’s CRE market data.
Located in an Inner Suburb of Tallahassee, the property benefits from a renter-oriented housing mix and occupancy around the metro midpoint. Neighborhood occupancy trends are competitive among Tallahassee neighborhoods given a rank in the mid-pack (64 out of 143), while the renter-occupied share is notably high (rank 11 of 143), indicating strong multifamily demand depth relative to the metro.
Everyday amenities are accessible, with grocery and restaurant density tracking above metro median levels (amenities ranked 22 and 34 out of 143, respectively), while cafes and pharmacies are thinner locally. Park access sits above the metro median (rank 26 of 143). These dynamics suggest convenience for residents without the premium of core urban locations.
Median contract rents in the neighborhood benchmark in the upper half nationally (64th percentile) and are above metro median levels (rank 19 of 143), a constructive signal for revenue potential. Neighborhood NOI per unit trails national peers (30th percentile), pointing to operational efficiency and expense control as levers for improved performance versus broader CRE markets.
The average neighborhood construction year is 1983. With a 1988 vintage, this asset is somewhat newer than the local average, offering relative competitiveness versus older stock; investors should still plan for selective system updates and modernization to support rent positioning and leasing velocity.
Within a 3-mile radius, demographics indicate a stable population with modest growth over the last five years and a larger increase in household counts, implying smaller average household sizes and a gradually expanding renter pool. Forward-looking estimates point to continued household growth even if population softens, which typically supports occupancy stability and absorption for multifamily. Median household incomes have risen, and forecast rent levels are expected to trend higher, reinforcing the case for consistent renter demand.
Home values in the neighborhood sit below national medians (32nd percentile). In practice, a more accessible ownership market can create some competition with rentals, but it can also support retention for well-managed, value-oriented multifamily properties by catering to residents prioritizing flexibility and lower upfront costs relative to ownership.
Safety indicators in the neighborhood compare below national averages overall (crime measures near the 34th percentile nationwide), though recent trends show improvement in violent offense rates, which declined year over year (ranked in the stronger half for improvement across the metro’s 143 neighborhoods). Investors may want to reflect this in underwriting via thoughtful security, lighting, and resident-engagement policies rather than assuming outsized risk premiums.
In metro context, the neighborhood’s crime rank sits in the middle third (61 out of 143), suggesting conditions that are competitive among Tallahassee neighborhoods but not top-tier. Monitoring trend direction and property-level measures typically helps support tenant retention and leasing stability.
The area draws from a diverse Tallahassee employment base that supports workforce housing and commute convenience; specific nearby employer-distance records are not available in WDSuite for this address at this time.
This 40-unit, 1988-vintage property is positioned in an Inner Suburb with a high renter-occupied share and occupancy that sits around the metro midpoint—favorable ingredients for stable tenant demand. Neighborhood rents benchmark above the metro median and in the upper half nationally, while the asset’s slightly newer-than-average vintage offers competitive positioning versus older stock, with scope for targeted upgrades to enhance rentability. According to CRE market data from WDSuite, household counts within 3 miles have increased and are projected to continue rising even if population growth moderates, which generally supports occupancy stability and absorption.
Balanced amenity access (notably groceries, restaurants, and parks) and below-national-median home values point to a market where well-managed rentals can appeal to value-focused tenants, though competition with ownership should be considered in pricing and retention strategies. Safety compares below national averages but has shown improving violent-offense trends, suggesting that property-level management and lighting/security investments can mitigate risk.
- High renter concentration supports tenant demand and leasing stability
- Rents above metro median with room to enhance performance via targeted upgrades
- 1988 vintage offers competitive positioning versus older neighborhood stock
- Household growth within 3 miles supports occupancy and absorption over time
- Risks: below-national-average safety and ownership competition require prudent underwriting and active management