| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 40th | Fair |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 322 Ausley Rd, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1996 |
| Units | 20 |
| Transaction Date | 2018-12-20 |
| Transaction Price | $4,200,000 |
| Buyer | AUSLEY ROAD LLC |
| Seller | MSCI 2006 HQ9 316 326 AUSLEY ROAD LLC |
322 Ausley Rd Tallahassee Multifamily Investment
Renter demand is reinforced by a high renter-occupied share in the surrounding neighborhood, while occupancy trends are more variable, according to WDSuite’s CRE market data. Investors should weigh stable tenant depth against lease-up and retention management needs.
Location & neighborhood context: The property sits in a B+ rated Inner Suburb neighborhood of Tallahassee that is competitive among 143 metro neighborhoods (ranked 48 of 143). Grocery access is a relative strength (top quartile locally and strong nationally), with restaurants also above average. By contrast, parks, pharmacies, and cafes are sparse in the immediate area, which can affect lifestyle appeal for some renter cohorts.
Rents, occupancy, and income efficiency: Neighborhood rents track near the national middle, but occupancy in this area sits below national norms, suggesting the need for disciplined leasing strategy. Notably, income efficiency indicators are favorable at the neighborhood level, with NOI per unit ranking near the top among Tallahassee neighborhoods and strong versus national peers, based on CRE market data from WDSuite.
Tenure and renter depth: The neighborhood shows a high concentration of renter-occupied housing units (near the top of the metro distribution), supporting a deeper tenant base and helping sustain demand for multifamily product.
Demographics within 3 miles: The 3-mile area has expanded in population and households over the past five years, with forecasts pointing to further population growth and a sizable increase in households over the next five years. A large share of residents fall in the 18–34 age band, which typically aligns with rental housing demand and supports occupancy stability.
Schools and affordability considerations: Average school ratings in the neighborhood are on the lower side, which may matter for family-oriented leasing. While local home values are relatively accessible in context, the rent-to-income ratio indicates some affordability pressure for renters, implying careful lease management and renewal strategies to balance pricing power with retention.
Safety conditions in the neighborhood are below national averages, with the area ranking in the lower half among 143 Tallahassee neighborhoods and sitting in a lower national percentile for both property and violent offenses. Recent trends show modest improvement year over year, which signals some stabilization but not a full reversal.
In practical terms for investors, this profile may require enhanced on-site management practices and security considerations, especially for parking and common areas, to support retention and leasing. Framing performance against peers: safety is below metro average today, while the recent decline in estimated offense rates suggests incremental progress rather than a persistent deterioration.
Built in 1996, the asset is newer than much of the surrounding housing stock, offering relative competitiveness versus older inventory while still warranting attention to aging systems and potential modernization to drive rent premiums. The 20-unit scale can benefit from operational focus, and larger average floor plans support appeal to renters seeking additional space. According to CRE market data from WDSuite, neighborhood occupancy lags national norms, but a deep renter base and solid income efficiency help underpin demand and revenue potential.
Within a 3-mile radius, population and household counts have grown and are projected to rise further, signaling a larger tenant base ahead and supporting lease-up prospects. Amenity access is mixed—strong for groceries and restaurants, limited for parks and pharmacies—so positioning and on-site amenities can play an outsized role. Affordability pressure (via rent-to-income dynamics) and below-average safety are the key risks to underwrite against disciplined operations and targeted upgrades.
- 1996 construction offers competitive positioning versus older neighborhood stock, with targeted modernization upside
- High renter-occupied share supports a deeper tenant base and demand resilience
- Growing 3-mile population and households indicate a larger renter pool and support for occupancy
- Strong grocery and restaurant access offsets limited parks/pharmacy options; on-site amenities can differentiate
- Risks: below-average safety, softer neighborhood occupancy, and renter affordability pressure require active management