| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 59th | Best |
| Demographics | 38th | Fair |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 630 W Virginia St, Tallahassee, FL, 32304, US |
| Region / Metro | Tallahassee |
| Year of Construction | 1972 |
| Units | 95 |
| Transaction Date | 2016-11-04 |
| Transaction Price | $6,250,000 |
| Buyer | Summit Capital Partners |
| Seller | Pyramid Estates |
630 W Virginia St Tallahassee Multifamily Investment
Renter concentration in the surrounding neighborhood supports a deeper tenant base and steady leasing potential, according to WDSuite’s CRE market data. Occupancy trends at the neighborhood level are softer, so underwriting should emphasize resident retention and lease management.
Positioned in an Inner Suburb of Tallahassee, the neighborhood rates A- and ranks 27th of 143 metro neighborhoods, placing it in the top quartile locally. Food-and-beverage density is a clear strength (restaurants score in the upper tier nationally), with parks and grocery access also above the metro median, which can aid day-to-day livability and leasing appeal.
The area’s housing stock skews slightly older than the metro average, and this 1972 asset may benefit from targeted capital improvements to remain competitive with newer product. Neighborhood average unit income performance is competitive among Tallahassee neighborhoods, which aligns with investor interest in stabilized operations; however, neighborhood occupancy sits below national norms, reinforcing the importance of renewal strategies and targeted marketing.
Within a 3-mile radius, the population and households have grown over the past five years, with WDSuite indicating further household expansion through the next forecast period. A high share of housing units are renter-occupied both in the neighborhood and across the 3-mile area, signaling depth in the renter pool and supporting multifamily demand. Rising median incomes in the 3-mile radius point to a gradually improving spending base, though lease management should account for affordability sensitivity as rents continue to trend upward under multifamily property research benchmarks.
Home values in the neighborhood are lower than many national peers, while the value-to-income ratio is elevated for the area. For investors, this mix suggests rental housing remains a primary option for many households, which can support tenant retention, while also requiring disciplined pricing to balance demand with affordability.
Safety indicators are mixed when viewed against regional and national benchmarks. The neighborhood’s crime ranking sits near the metro median among 143 Tallahassee neighborhoods, while national comparisons indicate comparatively higher property crime exposure. Recent year estimates from WDSuite show declines in both violent and property offense rates, which is a constructive trend, but investors should plan for standard security measures and active property management.
This 95-unit, 1972 vintage asset sits in a renter-heavy Tallahassee neighborhood with strong amenity access and competitive average income performance at the neighborhood level. Based on CRE market data from WDSuite, renter concentration is high locally, supporting depth of demand, while neighborhood occupancy trends are softer and call for an emphasis on renewals, marketing, and operational discipline. The 1972 vintage points to selective value-add and systems upgrades to strengthen positioning against newer stock.
Demographic data aggregated within a 3-mile radius show recent population and household growth with further expansion projected, supporting a larger tenant base over time. At the same time, rent-to-income metrics indicate affordability pressure for some renters, suggesting measured rent strategies and resident services may aid retention and stabilize cash flow.
- Renter-heavy neighborhood and growing 3-mile household base support leasing depth
- Strong amenity access (dining, parks, groceries) enhances livability and marketing
- 1972 vintage offers value-add potential through targeted renovations and system updates
- Neighborhood-level income performance is competitive among Tallahassee peers
- Risks: below-national occupancy and affordability pressure require active lease management