| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 55th | Good |
| Demographics | 40th | Fair |
| Amenities | 50th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 475 Appleyard Dr, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 2001 |
| Units | 46 |
| Transaction Date | 2011-12-01 |
| Transaction Price | $5,890,000 |
| Buyer | Collier-Appleyard, LLC |
| Seller | ATL Holdings, LLC |
475 Appleyard Dr, Tallahassee FL Multifamily Investment
Renter concentration in the surrounding neighborhood supports a deep tenant base, while the asset s newer-vintage profile provides relative competitiveness versus older stock, according to WDSuite s CRE market data.
Located in an Inner Suburb of Tallahassee, the neighborhood carries a B+ rating and ranks 48th among 143 metro neighborhoods, signaling competitive positioning within the market rather than a top-tier location. Grocery access is a relative strength (top quartile nationally), and restaurant density is also strong, while cafes, parks, and pharmacies are limited. For investors, this mix points to everyday convenience with fewer lifestyle amenities that typically command premium rents.
The property s 2001 construction is newer than the neighborhood average vintage (1979). That age gap can help leasing and retention versus older local stock, though investors should still plan for ongoing system updates and modernization as part of capital planning.
Renter-occupied housing is a defining feature here: the neighborhood s renter concentration ranks 7th out of 143 Tallahassee neighborhoods and sits near the top of U.S. neighborhoods. This depth of renter demand supports leasing velocity and unit absorption for multifamily assets. By contrast, neighborhood occupancy trends sit below national norms, so underwriting should focus on property-level differentiation and management execution to sustain stabilization.
Within a 3-mile radius, demographics skew young with a large 18 34 segment, household counts have increased in recent years, and average household size is trending smaller. Looking ahead, forecasts point to continued population and household growth, which generally expands the local renter pool and supports occupancy stability over time, based on CRE market data from WDSuite.
Ownership costs in the neighborhood are comparatively lower than many U.S. areas, which can introduce some competition with entry-level ownership options. At the same time, rent levels remain accessible in the local context, though rent-to-income ratios indicate some affordability pressure. For investors, this mix underscores the importance of value-oriented unit finishes and disciplined lease management to balance pricing power with retention.
Safety trends should be evaluated with care. Relative to U.S. neighborhoods, this area performs below national percentiles for both property and violent offenses, indicating higher incident rates than many locations. At the metro level, its crime ranking places it in the lower half among 143 Tallahassee neighborhoods rather than among the most secure areas.
Recent year-over-year data shows declines in both violent and property offense rates, suggesting incremental improvement. Investors should incorporate standard security measures, lighting, and community engagement into operations and compare property-level incident data and costs against submarket peers.
Nearby anchor employer details with reliable distance measures are not available via WDSuite for this address at this time. Given the neighborhood s renter orientation, investors typically evaluate commute access to major job nodes during site diligence to gauge leasing durability and retention.
This 2001-vintage, 46-unit asset benefits from a renter-heavy neighborhood that provides a deep tenant base and supports absorption. The property s newer construction relative to nearby housing stock can aid competitive positioning, while everyday amenities like groceries and dining are accessible even as lifestyle amenities are thinner. According to CRE market data from WDSuite, neighborhood occupancy runs below national norms, so operational execution and value-forward unit presentation are key levers for stabilization and retention.
Demographic data aggregated within a 3-mile radius points to a sizable young-adult population, recent household growth, and projected expansion in both households and population, all of which reinforce multifamily demand over the medium term. While ownership is relatively more accessible here than in many U.S. markets, rent-to-income levels call for attentive lease management to sustain renewals.
- Newer 2001 vintage versus local average supports competitive positioning and lower near-term CapEx relative to older stock
- High renter concentration in the neighborhood underpins demand depth and leasing velocity
- 3-mile radius shows household growth and a large young-adult cohort, supporting a stable tenant pipeline
- Everyday amenities (groceries, dining) accessible; fewer lifestyle amenities may cap achievable premiums but align with value positioning
- Risks: below-national neighborhood occupancy, safety considerations, and affordability pressure require disciplined operations and renewal strategy