| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 44th | Fair |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 290 Ross Rd, Tallahassee, FL, 32305, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1977 |
| Units | 60 |
| Transaction Date | --- |
| Transaction Price | $1,570,300 |
| Buyer | OAKRIDGE TOWNHOUSES INC |
| Seller | GULF SHELTER IND INC |
290 Ross Rd Tallahassee FL Multifamily Investment
Neighborhood data points to steady renter demand and mid-90s occupancy stability at the neighborhood level, according to WDSuite s CRE market data, with a high share of renter-occupied units supporting consistent leasing velocity. For investors, the area s renter concentration suggests a broad tenant base relative to nearby ownership options.
Located in an inner-suburb pocket of Tallahassee, the neighborhood posts an A- rating among 143 metro neighborhoods, signaling broadly favorable livability for workforce housing. Amenity access is competitive among Tallahassee neighborhoods (rank 24 of 143), with grocery and park access tracking in the upper half of national peers, while cafes and pharmacies are thinner locally. For investors, this mix supports day-to-day convenience for residents without paying for premium retail adjacency.
Renter-occupied housing is a defining feature: the neighborhood s renter share is high (rank 11 of 143; top percentile nationally), indicating deep multifamily demand and a larger tenant pool for lease-up and renewals. Neighborhood occupancy sits around the national midpoint, reinforcing the case for stable operations when marketing smaller-format units like the property s average size.
Home values in the neighborhood trend below national norms, which can introduce some competition from ownership in certain price bands. However, rent-to-income metrics suggest relatively manageable rent levels locally, which can support retention and reduce turnover friction, while still allowing for targeted revenue management tied to unit quality and finish.
Construction vintage trends indicate older housing stock than many Sun Belt metros. With a 1977 asset compared to an area average near the early 1980s, investors should underwrite ongoing capital planning and value-add potential to keep the property competitive against newer product while leveraging strong renter concentration for demand depth. Demographic statistics aggregated within a 3-mile radius show modest population growth in recent years alongside a larger increase in households and a projected continued rise in household counts with smaller household sizes both dynamics that support multifamily demand and occupancy stability over time.
Safety indicators for the neighborhood trail national averages, with crime measures sitting in lower national percentiles. Within the Tallahassee metro (143 neighborhoods), the area trends closer to the middle of the pack rather than top-tier safety. Investors should account for this in marketing and onsite management strategies.
That said, recent data shows a year-over-year decline in violent offense rates, an improving trend direction that can support perception over time. Positioning the asset with lighting, access control, and community engagement can help translate improving trends into resident retention and leasing stability.
This 60-unit, 1977-vintage property aligns with a neighborhood characterized by a high share of renter-occupied housing and occupancy levels around the national midpoint. The older vintage points to clear value-add and systems modernization levers, which, paired with a broad tenant base, can drive rent trade-outs on renovated units while sustaining absorption. According to CRE market data from WDSuite, amenity access is competitive locally, and neighborhood rent-to-income dynamics indicate manageable affordability pressures that can support renewal capture without overextending residents.
Demographic statistics aggregated within a 3-mile radius indicate steady recent population growth and a faster rise in households, with forecasts pointing to more households and smaller household sizes a setup that expands the renter pool and supports occupancy stability. Neighborhood home values sit below national norms, which may introduce some competition from ownership; however, the area s high renter concentration and workforce composition typically reinforce reliance on multifamily housing.
- High renter concentration supports a broad tenant base and steady leasing
- 1977 vintage offers clear value-add and capital planning upside
- Competitive neighborhood amenities and manageable rent-to-income aid retention
- 3-mile data shows rising household counts and smaller household sizes, supporting demand
- Risks: below-national safety metrics and some competition from ownership alternatives