| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 66th | Best |
| Amenities | 55th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 603 Fulton Rd, Tallahassee, FL, 32312, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1978 |
| Units | 88 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
603 Fulton Rd Tallahassee Multifamily Investment
Neighborhood fundamentals point to steady renter demand and generally stable occupancy, according to WDSuite s CRE market data. Investor focus here centers on a deep renter pool and everyday amenity access that support leasing consistency over time.
Located in an Inner Suburb of Tallahassee, the neighborhood ranks 16 out of 143 locally (A rating), placing it in the top quartile among metro neighborhoods. Amenity access is a relative strength: cafes, grocery options, and restaurants rank competitively (each within the top ten ranks out of 143), with pharmacies also above the metro median. For residents, this translates to convenient daily needs and supports retention dynamics for multifamily assets.
At the neighborhood level (not the property), renter-occupied housing is prevalent and occupancy sits above the metro median, indicating a broad tenant base and demand stability for professionally managed rentals. The local ownership landscape skews toward a high-cost ownership market by national comparison (value-to-income ratio in a higher national percentile), which tends to reinforce reliance on rental housing and supports pricing power when managed carefully.
Within a 3-mile radius, population and household counts have grown over the past five years, with forecasts indicating further population growth and a larger number of households ahead. Rising household incomes and a modest decrease in average household size suggest more renters entering the market and a larger tenant base, supporting occupancy stability for well-positioned properties. Forward-looking rent levels in the area are also projected to increase, which, if realized, would favor owners with active revenue management.
The asset s vintage is 1978, older than the neighborhood s average construction year. That generally implies periodic capital expenditure needs, but also potential value-add opportunities through targeted renovations and modernization to stay competitive against younger stock.
Safety indicators for this neighborhood track near the middle of the Tallahassee metro (ranked 80 out of 143), while national comparisons place it in lower safety percentiles. Recent estimates show year-over-year increases in both property and violent offenses. For investors, this suggests underwriting that incorporates enhanced property management, lighting, and security measures, and close monitoring of trend direction at the neighborhood level rather than block-by-block assumptions.
603 Fulton Rd is positioned in a Tallahassee neighborhood with top-quartile amenity access and a high concentration of renter-occupied housing at the neighborhood level, supporting leasing velocity and tenant retention. Based on CRE market data from WDSuite, neighborhood occupancy trends sit above the metro median, and the 3-mile radius shows past and projected population and household growth that expand the renter pool over time.
Built in 1978, the property is older than the neighborhood average, which points to potential value-add through unit upgrades and systems modernization alongside prudent capital planning. A high-cost ownership context by national comparison supports sustained rental demand, though lease management should account for affordability pressure and localized safety considerations.
- Renter-heavy neighborhood and above-metro-median occupancy support demand stability
- Top-quartile amenity access (cafes, groceries, restaurants) aids retention
- 3-mile population and household growth expand the tenant base
- 1978 vintage offers renovation and repositioning upside with targeted capex
- Risks: below-national safety percentiles and affordability management require active operations