Fully Renovated
For Sale
$549,999
302 Vantage Point Ln, Tallahassee, FL 32301
Three residences offer updated interiors, private outdoor areas, and attached laundry rooms with washer and dryer connections.
Property Size2,208 SF
Price / SF$249.09
Days on Market82
Property Features for 302 Vantage Point Ln
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Amenities
deck
patio
washer/dryer
Building Details
Year Built
1978
Buildings
1
Listing Agency:
Frog Real Estate Company, LLC
Listed By:
Devin Odom · License #3525166
(850) 212-2673
Source:
Hopegainesrealestate
Added: Jul 25
Changed: Oct 10
Last Checked: Oct 7 at 3:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Frog Real Estate Company, LLC
Investment Insights
Based on property information with market context.
This triplex at 302 Vantage Point Ln contains three renovated residences within a 2208-square-foot property built in 1978. Improvements include new kitchen appliances, cabinets, sinks, flooring, paint, lighting, and accordion-style sliding glass doors. Each unit also includes a deck, patio, and attached utility room with a washer and dryer.
Exterior updates include new windows, siding, and a metal roof. The property is located minutes from The Capital, a hospital, Cascades, and area colleges. Trees surround the neighborhood, and a walking trail is situated just behind it.
Exterior updates include new windows, siding, and a metal roof. The property is located minutes from The Capital, a hospital, Cascades, and area colleges. Trees surround the neighborhood, and a walking trail is situated just behind it.
Key Highlights
- 2208‑square‑foot triplex built in 1978
- All three units fully renovated with new flooring, paint, cabinets, lighting, sinks, and kitchen appliances
- Each residence includes a deck, patio, and attached utility room with washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,136
Cap Rate
4.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$462,720
$462.7K
Cap Rate 7%
$330,514
$330.5K
Cap Rate 9%
$257,067
$257.1K
Market Conditions
NOI Build-Up for 2,208 SF
Gross rent
$35.8K $16.20/SF
− Vacancy
−$2.7K −$1.23/SF
EGI
$33.1K $14.97/SF
− OpEx
−$9.9K −$4.49/SF
NOI
$23.1K $10.48/SF
Area
Tallahassee, FL
Vacancy
7.60%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$462,720
Cap Rate 7%
$330,514
Cap Rate 9%
$257,067
Alternative Uses
Best Use
Multifamily LT 5
$330.5K
$289.2K – $385.6K
NOI $23,136 @ 7.0% cap · market cap 4.21%
Second Best
Apartment 5plus
$287.3K
$251.4K – $335.2K
NOI $20,110 @ 7.0% cap · market cap 3.66%
Theoretical Best
Office A
$541.3K
$473.6K – $631.5K
NOI $37,891 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,586
Businesses Nearby
Explore this area
Business Placement
Demographics for 32301, FL
29,686
Population
17,029
Households
1.7
Avg Household Size
32
Median Age
45%
College-Educated
92%
High-School Grad
10.2 sq mi
ZIP Area
2,910
Density / Sq Mi
$50,412
Median Household Income
$34,271
Median Earnings
$1,200
Median Rent
$211,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residences offer updated interiors, private outdoor areas, and attached laundry rooms with washer and dryer connections.
Where is this triplex located?
The property is located at 302 Vantage Point Ln Tallahassee, FL.
What is the asking price?
The asking price for this property is $549,999.
What are key features of this property?
This property features: 2208‑square‑foot triplex built in 1978; All three units fully renovated with new flooring, paint, cabinets, lighting, sinks, and kitchen appliances; Each residence includes a deck, patio, and attached utility room with washer and dryer
