| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 62nd | Best |
| Demographics | 43rd | Fair |
| Amenities | 9th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2749 Pecan Rd, Tallahassee, FL, 32303, US |
| Region / Metro | Tallahassee |
| Year of Construction | 2008 |
| Units | 50 |
| Transaction Date | 2006-01-25 |
| Transaction Price | $725,000 |
| Buyer | DARDEN COMMERCIAL LLC |
| Seller | BRANCH BANKING & TRUST COMPANY |
2749 Pecan Rd, Tallahassee FL Multifamily Opportunity
Renter demand is supported by a high neighborhood renter-occupied share and a high-cost ownership landscape relative to incomes, according to WDSuite’s CRE market data. Positioning in an inner-suburb pocket offers steady workforce tenancy with scope to manage pricing and retention through operations.
The property sits in an Inner Suburb of Tallahassee with a neighborhood rating of B- and a mid-pack placement (74 of 143 metro neighborhoods). Restaurants are present locally, while daily-needs amenities such as grocers, pharmacies, and parks are limited within the immediate neighborhood, which places more emphasis on on-site services and convenient access routes for residents.
Neighborhood occupancy trends are below the metro median (ranked 103 of 143), but unit tenure skews renter-occupied at 53% and places the area in the top decile nationally for renter concentration. For investors, that mix indicates a deep tenant base that can support leasing activity even as occupancy cycles.
Within a 3-mile radius, households have grown over the past five years while population edged down, signaling smaller average household sizes and a broader renter pool. Forward-looking projections point to increases in population and households by the mid-2020s, which supports occupancy stability and a larger tenant base for multifamily property research use cases.
Home values in the neighborhood have risen over the last cycle and, relative to local incomes, place the area in a high-cost ownership market. That backdrop typically sustains reliance on rental housing and can aid lease retention, while rent-to-income levels suggest manageable affordability pressure compared to national norms—useful for pricing discipline and renewal strategy.
Safety indicators are mixed. The neighborhood’s crime position ranks 43 out of 143 Tallahassee neighborhoods, which is below the metro median for safety and roughly below average nationally. However, recent year-over-year trends show declines in both property and violent offense rates, indicating directional improvement. Comparatively, this area is not among the top quartile nationally for safety, so underwriting should incorporate prudent security measures and tenant-experience planning.
Built in 2008, the asset is newer than the area’s average vintage and should remain competitive versus older stock, while selective modernization can enhance positioning. The neighborhood features strong renter reliance and a high-cost ownership environment relative to incomes—conditions that typically sustain multifamily demand and support retention. Based on CRE market data from WDSuite, neighborhood occupancy sits below the metro median today, but forward projections within 3 miles point to population and household growth that can expand the renter pool and help stabilize leasing over the hold.
Operationally, investors can lean into workforce demand and measured pricing strategies given rent-to-income levels that are comparatively manageable by national standards. Amenity scarcity nearby raises the value of on-site features and access to employment corridors, while the property’s mid-size scale supports professional management and expense control.
- 2008 vintage offers competitive positioning versus older stock, with targeted upgrades to drive rentability
- High renter-occupied share supports a deep tenant base and ongoing leasing activity
- High-cost ownership market reinforces reliance on rentals, aiding retention and pricing management
- Forecast population and household gains within 3 miles point to renter pool expansion over the mid-term
- Risks: neighborhood occupancy below metro median; amenity scarcity; safety metrics below national averages—plan for active management and resident services