Renovated
For Sale
$549,999
302 Vantage Point Lane #4 5 & 6, Tallahassee, FL 32301
Each of the three residences has a deck, patio, and attached utility room with a washer and dryer.
Property Size2,208 SF
Price / SF$249.09
Days on Market113
Property Features for 302 Vantage Point Lane #4 5 & 6
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$4,781
Amenities
deck
patio
washer/dryer
Tray Ceiling(s)
Vaulted Ceiling(s)
Walk-In Closet(s)
Deck
Building Details
Building Size
2,208 SF
Year Built
1978
Stories
2
Units
3
Listing Agency:
Frog Real Estate Company, LLC
Listed By:
Devin Odom · License #3525166
(850) 222-3764
Source:
Bertpope
Added: Jul 16
Changed: Nov 4
Last Checked: Nov 5 at 4:52AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This three-unit property contains 2,208 square feet across residences renovated with new kitchens, flooring, paint, cabinets, sinks, showers, lighting, and appliances. Accordion-style sliding glass doors add another updated feature to each unit. The exterior improvements include replacement windows and siding, along with a new metal roof.
Each residence has its own deck and patio, plus an attached utility room with a washer and dryer. One unit is operating as a short-term or mid-term rental.
Each residence has its own deck and patio, plus an attached utility room with a washer and dryer. One unit is operating as a short-term or mid-term rental.
Key Highlights
- Three units with 2,208 square feet total
- Renovated interiors include new kitchen appliances, flooring, cabinets, sinks, showers, paint, and lighting
- Each unit has a deck, patio, and attached laundry 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.
How Realmo checks its estimates
Property Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
870
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Each of the three residences has a deck, patio, and attached utility room with a washer and dryer.
Where is this triplex located?
The property is located at 302 Vantage Point Lane #4 5 & 6 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: Three units with 2,208 square feet total; Renovated interiors include new kitchen appliances, flooring, cabinets, sinks, showers, paint, and lighting; Each unit has a deck, patio, and attached laundry room with washer and dryer
