| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 44th | Fair |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 434 W Jefferson St, Tallahassee, FL, 32301, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1974 |
| Units | 59 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
434 W Jefferson St, Tallahassee Multifamily Opportunity
Neighborhood renter-occupied housing is high and supports a deep tenant base, while median contract rents are moderate for the area, according to WDSuite’s CRE market data.
Located in Tallahassee’s inner-suburb fabric, the area around 434 W Jefferson St shows a strong renter backbone: the neighborhood’s renter-occupied share is elevated, indicating depth for small-format units and steady leasing prospects. Within a 3-mile radius, renters account for a substantial share of housing as well, widening the prospective pool for turnover and lease-up.
Amenities skew urban: restaurant density is exceptionally high (top tier nationally), providing daily convenience and lifestyle appeal, while pharmacies are plentiful. By contrast, cafes, grocery stores, and parks are comparatively sparse in the immediate neighborhood, so residents rely on nearby corridors for those needs. For investors, this mix points to demand driven by proximity and convenience rather than traditional neighborhood retail clusters.
The average construction year in the neighborhood is newer than this asset’s 1974 vintage. That older vintage suggests potential value-add via unit refreshes, systems upgrades, and common-area enhancements to maintain competitive positioning against 1990s-era stock. Median contract rents are mid-range nationally, which can support absorption for well-executed renovations without needing to chase top-of-market pricing.
Educational attainment is competitive among Tallahassee neighborhoods (ranked 34 of 143 by share of residents with bachelor’s degrees), aligning with a sizeable 18–34 population within a 3-mile radius. Recent population and household growth, with households projected to expand further over the next five years, points to a larger tenant base and supports occupancy stability over a medium-term hold, based on CRE market data from WDSuite.
Safety trends are mixed but improving. Compared with other Tallahassee neighborhoods, this area’s crime rank places it on the higher side locally; however, it sits around the middle of neighborhoods nationwide (near the 53rd percentile). Year over year, both violent and property offense rates have declined, with property offenses down and violent offenses seeing a more pronounced reduction, indicating momentum in the right direction.
Investors should underwrite routine security measures and lighting/visibility improvements typical for urban assets while recognizing the recent downward trend in incident rates. As always, block-level conditions can vary; evaluate on-the-ground operations and resident experience alongside these broader indicators.
This 59-unit, 1974-vintage property sits in a renter-heavy neighborhood with strong restaurant access and ample daily services, supporting lease-up and retention for small-format units. The asset’s older vintage creates a clear value-add path through interior updates and modernization, positioning it against newer 1990s peer stock. Within a 3-mile radius, recent population and household growth — with forecasts pointing to further increases — expands the tenant base and supports occupancy stability.
Neighborhood-level performance indicators are constructive: median rents are moderate, restaurants are dense, and pharmacies are abundant, while cafes and groceries are thinner locally — a planning consideration for resident convenience. Safety trends have improved year over year, and, according to CRE market data from WDSuite, the area’s renter concentration and projected household growth reinforce demand durability, though current neighborhood occupancy levels suggest execution around marketing and management remains important.
- Renter-heavy neighborhood and expanding 3-mile household base support demand and occupancy
- 1974 vintage offers value-add upside via unit and systems modernization
- High restaurant density and strong pharmacy access enhance daily livability
- Moderate median rents provide room for renovations without requiring top-of-market pricing
- Risk: neighborhood occupancy trails stronger submarkets — requires focused leasing and asset management