| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 45th | Fair |
| Demographics | 60th | Good |
| Amenities | 94th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 411 W 5th Ave, Tallahassee, FL, 32303, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1973 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
411 W 5th Ave Tallahassee Multifamily Opportunity
Neighborhood renter concentration and steady tenant demand position this asset for durable cash flow, according to WDSuite’s CRE market data. All occupancy and demand references reflect the surrounding neighborhood, not the property.
The location sits in an Inner Suburb area with strong daily-life convenience. Amenities rank in the top quartile among 143 Tallahassee neighborhoods and in the high national percentiles, with dense access to restaurants, parks, cafes, groceries, and pharmacies supporting resident retention and leasing velocity. This convenience profile is competitive for workforce and student-adjacent renters seeking short commutes and walkable options.
Neighborhood occupancy has improved over the past five years, though it trails stronger submarkets in the metro. Importantly, the share of renter-occupied housing units is in the top quartile among 143 Tallahassee neighborhoods, indicating a deep tenant pool that tends to support leasing stability across cycles. Median asking rents in the neighborhood sit competitive among metro peers, suggesting price-sensitive appeal while leaving room for targeted upgrades to differentiate product.
Demographics aggregated within a 3-mile radius show population growth of roughly 8% over five years and a 10% increase in households, expanding the local renter base. The area skews toward ages 18–34, which typically underpins demand for smaller formats and well-amenitized communities. Looking ahead, forecasts point to additional population and household growth, which should enlarge the tenant pool and help support occupancy stability.
Home values sit below national midpoints, which can introduce some competition from entry-level ownership. For investors, that implies disciplined pricing and amenity positioning are important for retention, while the area’s convenience, renter concentration, and amenity density can sustain demand for well-maintained units. Average school ratings in the neighborhood are below metro standouts, which may temper appeal for family renters; however, proximity to services and employment still supports consistent absorption for adult and student-heavy cohorts.
The property’s 1973 vintage is newer than the neighborhood’s average construction year. That relative age positioning can offer a competitiveness edge versus older stock, while still leaving room for modernization of building systems and interiors to capture value-add upside.
Safety indicators for the neighborhood track below national averages, and conditions rank weaker than the metro median (52 out of 143 Tallahassee neighborhoods). Year over year, both violent and property offense rates have declined, signaling an improving trend. Investors should underwrite to current neighborhood conditions while noting the recent directional improvement and considering property-level measures that support resident comfort and lease retention.
This 24-unit, 1973-vintage community benefits from a high-amenity Inner Suburb location and a neighborhood renter-occupied share in the top quartile of Tallahassee, supporting depth of demand. While neighborhood occupancy trails the metro median, five-year improvement and growing 3-mile population and household counts point to a larger tenant base ahead. According to CRE market data from WDSuite, neighborhood rents are competitive among metro peers, creating a platform for targeted renovations to drive relative positioning without overextending affordability.
Relative to older nearby stock, the asset’s vintage offers competitive footing, with potential to modernize systems and interiors for value-add. Key underwriting considerations include below-average school ratings, safety metrics that lag national norms (albeit improving), and some competition from entry-level ownership—factors that argue for focused amenity, security, and leasing strategies.
- High neighborhood renter concentration supports tenant demand and leasing durability
- Amenity-rich Inner Suburb location aids retention and absorption
- 1973 vintage newer than area average, with clear modernization/value-add pathways
- Neighborhood rents competitive among metro peers, allowing strategic upgrades to differentiate
- Risks: occupancy below metro median, safety below national norms, and potential competition from entry-level ownership