| 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 | 94 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
630 W Virginia St, Tallahassee Multifamily Investment
Neighborhood fundamentals point to durable renter demand supported by a high renter concentration and competitive amenities, according to WDSuite’s CRE market data. Expect stable leasing interest relative to the metro, with room for value-add to strengthen positioning.
This Inner Suburb neighborhood ranks 27 out of 143 Tallahassee neighborhoods with an A- rating, placing it in the top quartile locally. Amenity access is a relative strength: restaurants score in the top national percentiles, while parks and groceries are also above average; childcare and pharmacies are less dense, which may modestly affect convenience for some residents.
Renter concentration is elevated at the neighborhood level, indicating a deep base of renter-occupied housing that supports multifamily demand and leasing velocity. Within a 3-mile radius, households and population have grown over the last five years, and projections show continued expansion in both population and household counts, pointing to an expanding tenant pool and support for occupancy stability.
Home values are relatively high versus local incomes (above most U.S. neighborhoods by value-to-income measures), creating a high-cost ownership market that tends to sustain reliance on rental housing. Median contract rents in the neighborhood remain comparatively accessible in the metro context, though rent-to-income ratios suggest some affordability pressure—an operational consideration for renewals and pricing strategy rather than a structural weakness.
The asset’s 1972 vintage is older than the neighborhood’s average build year, which points to potential value-add and capital planning opportunities. Thoughtful renovations can improve unit competitiveness against newer stock while leveraging strong neighborhood-level NOI per unit performance seen in WDSuite’s commercial real estate analysis.
Safety indicators are mixed relative to broader benchmarks. Compared with neighborhoods nationwide, this area sits below the median for safety, while within the Tallahassee metro it is roughly mid-pack among 143 neighborhoods. Recent trend data is directionally positive: estimated violent and property offenses have both declined year over year, suggesting gradual improvement.
Investors should underwrite to standard security and lighting upgrades and consider partnership with professional management on monitoring and resident communication. These measures can support retention and protect occupancy as the neighborhood’s improvement trend continues.
The 94-unit property at 630 W Virginia St is positioned in a top-quartile Tallahassee neighborhood with strong amenity access and a deep renter base. According to CRE market data from WDSuite, neighborhood-level income performance per unit is competitive, and a growing 3-mile population and household count signal expansion of the renter pool—supportive of occupancy stability and leasing momentum.
Built in 1972, the asset offers value-add potential through targeted renovations and systems modernization to enhance competitiveness against newer stock. While local rent-to-income ratios indicate affordability pressure that warrants careful renewal strategies, the high-cost ownership landscape reinforces reliance on rental housing, supporting long-term demand.
- Top-quartile neighborhood rank among 143 metro peers supports durable demand and leasing
- Deep renter-occupied housing base and 3-mile household growth expand the tenant pool
- 1972 vintage provides clear value-add and capital planning pathways to enhance NOI
- High-cost ownership context underpins ongoing reliance on multifamily rentals
- Risks: affordability pressure and mid-pack safety metrics require proactive leasing and asset management