| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 66th | Best |
| Demographics | 44th | Fair |
| Amenities | 33rd | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 601 S Copeland St, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 2013 |
| Units | 81 |
| Transaction Date | 2012-06-05 |
| Transaction Price | $1,250,000 |
| Buyer | ACC OP COPELAND LLC |
| Seller | CITY OF TALLAHASSEE |
601 S Copeland St Tallahassee 2013 Multifamily Asset
Renter demand is supported by a high neighborhood share of renter-occupied units, while current occupancy trends suggest leasing remains competitive; based on CRE market data from WDSuite, investors should underwrite toward steady absorption rather than rapid lease-up.
This Inner Suburb pocket of Tallahassee ranks competitive among 143 metro neighborhoods (overall rank 34), with a neighborhood rating of A-. Restaurant density is a clear strength (near the top of the metro and high nationally), complemented by strong pharmacy access; by contrast, parks, groceries, cafes, and childcare options are limited, which may influence resident convenience expectations and retention strategies.
Neighborhood occupancy runs below the national median, so operators should plan for active marketing and renewal management. At the same time, renter-occupied housing is a defining feature of the area: the neighborhood’s renter concentration ranks 5th out of 143 in the metro, indicating a deep tenant base for multifamily product and potential resilience in day-to-day leasing.
Within a 3-mile radius, demographics skew young adult, and both population and household counts have grown in recent years with projections calling for additional, double-digit gains. That expansion points to a larger tenant base over time, which can support occupancy stability and measured rent growth for well-positioned assets.
Rents in the immediate area sit in a mid-market band, aligning with workforce and student-adjacent demand profiles. For investors, the combination of robust restaurant amenity density and a predominantly renter-occupied housing stock creates a practical backdrop for multifamily operations, provided leasing teams account for the more limited park and grocery presence when shaping resident experience.
Safety indicators are mixed when viewed across geographies. Within the Tallahassee metro, this neighborhood’s crime rank sits closer to the higher-crime cohort (rank 26 out of 143 metro neighborhoods). Nationally, however, its overall safety positioning is around the middle of the pack (approximately mid-50s percentile compared with neighborhoods nationwide).
Recent directionality is constructive: estimated violent and property offense rates both declined year over year, with improvements ranking in the better half of Tallahassee neighborhoods and trending favorably relative to national patterns. For underwriting, this suggests monitoring continued trend stability rather than assuming further rapid improvement.
Built in 2013, the property is newer than the neighborhood’s average vintage, positioning it competitively versus older housing stock and potentially reducing near-term capital needs while still warranting routine system updates. According to CRE market data from WDSuite, the surrounding neighborhood shows a very high share of renter-occupied units, supporting a deep tenant pool even as current occupancy levels trend below national medians. That mix points to steady demand for functional, well-managed units, with execution focused on leasing efficiency and renewals.
Within a 3-mile radius, recent population and household growth — with projections calling for additional, double-digit expansion — indicate a rising renter base that can bolster absorption and retention. Amenity patterns favor dining and daily conveniences like pharmacies, while limited park and grocery coverage suggests resident experience programs and partnerships can help offset gaps.
- 2013 vintage offers competitive positioning versus older stock, with manageable modernization planning.
- High neighborhood renter-occupied share (ranked 5th of 143) supports depth of demand and leasing velocity.
- 3-mile population and household growth point to a larger tenant base and support for occupancy stability.
- Operational focus: below-median occupancy requires disciplined marketing, renewals, and pricing strategy.
- Amenity gaps (parks/groceries) are manageable with resident experience initiatives and local partnerships.