| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 44th | Fair |
| Amenities | 42nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 4495 Shelfer Rd, Tallahassee, FL, 32305, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1974 |
| Units | 92 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
4495 Shelfer Rd Tallahassee Multifamily Investment
Neighborhood occupancy is holding near the low-90% range, pointing to steady renter demand in this inner-suburban pocket, according to WDSuite’s CRE market data. A high renter concentration and competitive standing within the Tallahassee metro underpin durable leasing fundamentals for investors.
Situated in an Inner Suburb of Tallahassee, the neighborhood ranks 37 out of 143 metro neighborhoods, making it competitive among Tallahassee neighborhoods. Neighborhood occupancy is approximately 91.1% (neighborhood measure, not the property), which supports baseline stability for multifamily assets seeking consistent leasing performance.
Renter-occupied housing accounts for about 68% of units in the neighborhood, indicating a deep tenant base that can support demand for a 92-unit asset. Within a 3-mile radius, households have expanded in recent years while average household size has edged lower, which typically broadens the renter pool and supports occupancy stability for well-managed properties.
Local amenities are mixed: grocery access and parks track above national midpoints, while cafes and pharmacies are limited. School ratings data in the immediate area are sparse, so investors should underwrite based on workforce accessibility and daily-needs retail rather than school-driven demand.
The property’s 1974 vintage is older than the neighborhood’s average construction year (1983). This points to potential value-add through exterior/interior modernization and systems upgrades; investors should budget for capital planning to maintain competitive positioning against newer product. Neighborhood rent-to-income metrics (around 0.27) suggest some affordability pressure, so value-add plans should emphasize cost-effective improvements that support retention and measured rent increases rather than aggressive premium repositioning.
Safety indicators trend below national medians for this neighborhood, with crime measures sitting in the lower national percentiles and roughly mid-pack within the Tallahassee metro (ranked against 143 neighborhoods). Recent trends are mixed: estimated violent offenses have decreased year over year, while property offense rates have increased. For underwriting, this suggests focusing on security-minded operations and tenant-screening practices, while noting that metro-relative positioning is not among the weakest cohorts.
4495 Shelfer Rd offers scale at 92 units in an Inner Suburb location where neighborhood occupancy hovers around the low-90% range and renter-occupied housing is high. Based on commercial real estate analysis from WDSuite, the submarket’s renter concentration and competitive metro ranking support durable baseline demand, while amenity access skews toward daily needs rather than lifestyle retail. Median home values remain comparatively modest in this area, which can introduce some competition from ownership but also helps sustain steady workforce rental demand.
Built in 1974, the asset is older than the neighborhood average and presents value-add potential through targeted renovations and systems modernization. Within a 3-mile radius, households have increased even as average household size declined, expanding the tenant base and supporting occupancy stability. Pricing power should be balanced against rent-to-income pressures; a measured upgrade strategy and disciplined expense control can preserve cash flow while maintaining resident retention.
- Competitive neighborhood standing in Tallahassee with stable, renter-driven demand
- High renter-occupied share supports depth of tenant base for a 92-unit asset
- 1974 vintage offers value-add and systems-upgrade upside to enhance NOI
- Daily-needs amenities nearby; underwrite security-forward operations given mixed safety trends
- Risk: rent-to-income pressure and ownership alternatives may temper aggressive rent lifts