| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 58th | Best |
| Demographics | 62nd | Good |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 306 Stadium Dr, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1972 |
| Units | 36 |
| Transaction Date | 2010-02-08 |
| Transaction Price | $1,126,600 |
| Buyer | RGR MANAGEMENT LLC |
| Seller | REVELL REVELL BRONWYN S BRONWYN S |
306 Stadium Dr Tallahassee Multifamily Investment
Renter demand is deep in the surrounding neighborhood, with a high share of renter-occupied units and strong amenity access, according to WDSuite’s CRE market data. These metrics reflect neighborhood conditions rather than the property itself and point to steady leasing fundamentals near Florida State University and downtown Tallahassee.
Located in Tallahassee’s inner suburb fabric, the neighborhood ranks 14 out of 143 metro neighborhoods with an overall A rating, indicating competitive fundamentals among local peers. Amenity access is a standout: grocery and cafe density rank 2 out of 143 locally and sit in the 90th-plus national percentiles, with restaurants similarly high. This concentration supports daily convenience and helps sustain renter interest.
Housing stock in the area skews renter-oriented, with a high share of housing units that are renter-occupied (ranked 2 of 143 and 99th percentile nationally). For multifamily owners, this signals depth in the tenant base and ongoing leasing velocity, though it also means properties compete head-to-head on finishes, management quality, and concessions during softer periods.
The property’s vintage is 1972, older than the neighborhood’s average construction year of 1985. That creates clear value-add angles for renovations and system upgrades while positioning against older Class C stock; investors should plan for capital projects to maintain competitive positioning and reduce ongoing repair risk.
Within a 3-mile radius, demographics are anchored by a large 18–34 cohort today, with population and household counts projected to grow further over the next five years. This expansion supports a larger tenant base and helps occupancy stability, particularly for smaller-unit and student-adjacent product types. Median contract rents at the neighborhood level remain accessible relative to many Florida metros, but a higher rent-to-income ratio indicates some affordability pressure, suggesting careful lease management and renewal strategy.
Safety trends should be evaluated as part of underwriting. The neighborhood’s crime rank is 82 out of 143 metro neighborhoods, placing it below the metro median for safety, and national comparisons indicate weaker percentiles. Recent one-year estimates show increases in both property and violent offense rates, so operators may want to budget for lighting, access controls, and resident engagement to support retention. These figures reflect neighborhood-level patterns, not the property specifically, and should be validated against current local reporting.
306 Stadium Dr offers exposure to a renter-heavy Tallahassee neighborhood with strong daily amenities and a large young-adult population within 3 miles. The 1972 vintage presents actionable value-add potential to modernize interiors and building systems, which can sharpen competitive standing against older stock. While neighborhood occupancy levels are not at the top of the metro and safety metrics warrant prudent operating measures, the depth of the tenant base and steady amenity-driven demand create a balanced setup for durable leasing.
According to CRE market data from WDSuite, the area ranks competitively within the metro on overall fundamentals, features nationally high renter-occupied share, and shows continued population and household growth in the 3-mile catchment. Pairing targeted capital investment with hands-on management can position the asset to capture demand while managing affordability and retention risk.
- Renter-heavy neighborhood supports deep tenant base and leasing velocity.
- Strong amenity access (grocery, cafes, restaurants) reinforces location fundamentals.
- 1972 vintage enables value-add and systems modernization to drive NOI.
- 3-mile population and household growth underpin future demand.
- Risks: below-metro safety ranks and affordability pressure require proactive operations.