2885 Par Ln Unit A · Tallahassee, FL 32301

$119,000

2 bd · 2.0 ba · 1,094 sqft · Condo public records · 191 Days on market

Built 1981 $200/mo HOA · 14% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +19.3/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• DSCR +6.1/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

What a deal!! Overlook a golf course/pond in this ultra contemporary condo. Bottom corner unit in 4-unit condo has loads of windows to let in natural light. $2400/year covers exterior maintenance and more. Numerous flex spaces including a separate room adjacent to front bedroom. Walk-in closet in front bedroom, large closet and access to back deck in back bedroom. Kitchen has open upper walls to the dining room, and bar seating adjacent to the living room. Central living room has cozy wood burning fireplace. Each bedroom has private en suite bathroom. No carpet throughout. Back deck overlooks expansive section of Hilaman Golf Course, including a pond. Enjoy the convenience of being close to

Key facts

• Back deck overlooks
• Numerous flex spaces
• Walk in closet

Tags

• OVERLOOK A GOLF COURSE
• NUMEROUS FLEX SPACES
• WALK IN CLOSET
• PRIVATE EN SUITE BATHROOM
• BACK DECK OVERLOOKS

Property features AI

Finance

• Other: Located on a paved road; road responsibility listed as both private and public maintained
• HOA & community: Association fee of $2,400; Association covers common areas, insurance, structure maintenance, and road maintenance

Exterior

• Parking: Parking space(s)
• Utilities: Public sewer
• Home design: Wood siding construction; Slab foundation
• Construction: Wood siding
• Exterior features: Deck; Patio; Near golf course; Has view

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (12x11); Bonus Room; Office; Other rooms
• Flooring: Plank; Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Wood heating; Central air conditioning; Ceiling fans; Electric cooling
• Interior features: End unit with window treatments; Split bedrooms layout; Sunroom; Walk-in closets; Has fireplace
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $119k.

Deal economics

• At list price, monthly cash flow is $131 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 4.2% in Tallahassee — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 86/100 on livability (#19 in FL, #429 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment D.
• Leon (urban): math 48% / reading 53% proficiency, ranked #33 of 73 in FL (top 45%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+4.2%/yr); 121 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,765 units permitted in Leon County in 2024 (975 in 5+ unit buildings).
• This rent runs 34% of the median local income ($51k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Leon County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 191 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $41k (26%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 191 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.71%
• DSCR: 1.21
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-9,098
• Equity at exit: $17,743

10-year hold

• IRR: 4.1%
• Equity multiple: 1.32×
• Total profit: $10,589
• Equity at exit: $10,289

Cash invested: $33,320 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32301

• Rents YoY: 4.2%
• Active inventory: 121
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,454 high
• Mortgage (P&I): −$624
• Tax from tax record: −$144 /mo · $1,731/yr
• Insurance: −$50
• HOA: −$200
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $131

Break-even live

Break-even rent $1,288

Max offer price $119,000

Occupancy floor 86%

Sensitivity live

Price	-10% $198	-5% $164	+0% $131	+5% $97	+10% $63
Rent	-10% $16	-5% $73	+0% $131	+5% $188	+10% $246
Rate	-1.0pp $191	-0.5pp $161	base $131	+0.5pp $100	+1.0pp $69

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1412 Ramble Brk Unit C Tallahassee, FL	2.0	1.0	950	$1,050	$1.11	22d	1	0.21mi
1411 Lazy Brk Unit D Tallahassee, FL	2.0	1.0	950	$1,150	$1.21	22d	1	0.21mi
1730 Beechwood Cir N Tallahassee, FL	2.0	2.5	1216	$1,500	$1.23	22d	1	0.36mi
1942 Darryl Dr Unit 1 Tallahassee, FL	2.0	2.0	1200	$2,300	$1.92	22d	1	0.37mi
1872 Darryl Dr Tallahassee, FL	2.0	2.0	1062	$1,500	$1.41	22d	1	0.37mi
2221 Orange Ave E Tallahassee, FL	1.0–3.0	1.0–2.0	1007	$1,884	$1.87	14d	28	0.47mi
1539 Paul Russell Rd Tallahassee, FL	1.0	1.0	800	$950	$1.19	22d	1	0.57mi
1572 Keily Run Unit 1572 Tallahassee, FL	2.0	2.0	1200	$1,250	$1.04	22d	1	0.60mi
1515 Paul Russell Rd #85 Tallahassee, FL	3.0	2.5	1482	$1,400	$0.94	22d	1	0.64mi
2074 Midyette Rd Tallahassee, FL	2.0–3.0	2.0	1033	$899	$0.87	14d	1	0.65mi
2729 Blair stone Ln Unit 1 Tallahassee, FL	3.0	1.5	1280	$1,550	$1.21	22d	1	0.68mi
2400 Barcelona Ct Tallahassee, FL	3.0	2.0	1080	$1,600	$1.48	14d	1	0.76mi
3501 S Blair Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	1190	$1,680	$1.41	14d	10	0.76mi
2001 Old Saint Augustine Rd Tallahassee, FL	1.0–2.0	1.0–2.0	875	$1,436	$1.64	14d	11	0.77mi
3450 S Blair Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	943	$1,750	$1.86	14d	25	0.89mi
2250 Bluff Oak Way Tallahassee, FL	1.0–3.0	1.0–2.0	1538	$1,791	$1.16	14d	17	0.92mi
3550 Esplanade Way Tallahassee, FL	1.0–3.0	1.0–2.0	1031	$1,802	$1.75	14d	27	0.96mi
2873 Jim Lee Rd Tallahassee, FL	2.0	2.0	1000	$925	$0.93	22d	1	1.01mi
2750 Old Saint Augustine Rd Tallahassee, FL	1.0–3.0	1.0–2.0	1230	$1,589	$1.29	22d	2	1.06mi
1736 Augustine Pl Tallahassee, FL	3.0	2.0	1400	$2,000	$1.43	22d	1	1.12mi
2850 Apalachee Pkwy Tallahassee, FL	1.0	1.0	750	$1,395	$1.86	14d	46	1.22mi
3700 Capital Cir SE Tallahassee, FL	1.0–3.0	1.0–2.0	1113	$1,653	$1.48	14d	52	1.27mi
2902 Battle Mountain Rd Tallahassee, FL	2.0	2.0	1160	$1,324	$1.14	22d	4	1.41mi
735 Putnam Dr #2 Tallahassee, FL	3.0	2.5	1396	$1,650	$1.18	14d	1	1.48mi
501 S Blair Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	1080	$1,470	$1.36	22d	1	1.49mi

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Likely covers: exterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-18
   days on market $119,000 Active 191 DOM
2. 2026-06-17
   days on market $119,000 Active 190 DOM
3. 2026-06-16
   days on market $119,000 Active 189 DOM
4. 2026-06-15
   days on market $119,000 Active 188 DOM
5. 2026-06-14
   days on market $119,000 Active 186 DOM
6. 2026-06-10
   days on market $119,000 Active 183 DOM
7. 2026-06-09
   days on market $119,000 Active 182 DOM
8. 2026-06-08
   days on market $119,000 Active 181 DOM
9. 2026-06-07
   pricedays on market $119,000 Active 180 DOM
10. 2026-06-05
    days on market $129,000 Active 177 DOM
11. 2026-06-03
    days on market $129,000 Active 176 DOM
12. 2026-06-02
    days on market $129,000 Active 175 DOM
13. 2026-06-01
    days on market $129,000 Active 174 DOM
14. 2026-05-31
    days on market $129,000 Active 173 DOM
15. 2026-05-30
    days on market $129,000 Active 172 DOM
16. 2026-05-14
    price $129,000
17. 2026-04-03
    price $139,000
18. 2026-02-19
    price $149,000
19. 2025-12-09
    listed $160,000 Active
20. 2015-01-21
    historical
21. 2013-01-28
    listed $34,100
22. 2006-02-09
    soldstatus $109,000
23. 1981-10-01
    soldstatus $58,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,731 · $144/mo
• Projected year-2 tax: $1,731 · $144/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,447
• − Mortgage interest: −$6,666
• − Property taxes: −$1,731
• − Insurance: −$595
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − HOA: −$2,400
• − Depreciation: −$3,462
• Taxable loss: −$198
• Est. tax savings @ 24.0%: +$47
• After-tax cash flow: $1,616/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Leon
• NCES district ID: 1201110
• Math proficiency: 48% ▼ -13.00%
• Reading proficiency: 53% ▼ -5.00%
• Median HH income: $46,339
• Composite: 42.84/100
• National rank: #3131
• State rank: #33 of 73 in FL

Livability — Tallahassee

• Score: 86/100
• State rank: #19
• US rank: #429

Category grades

Amenities A+ Commute A+ Cost of living A Crime C+ Employment D Housing A- Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Tallahassee, FL
• County: Leon County · 294,472 people
• City population: 294,472
• Metro: Tallahassee, FL
• Population (ZIP): 32,017
• Household income: $50,942
• Rent vs Own: 68.8% rent · 31.2% own
• Severe rent burden: 2625.0

Population outlook (Leon County) Hauer SSP2

• Today (2025): 315,507 people
• By 2030: 330,677 · +4.8%
• By 2040: 358,465 · +13.6%
• By 2050: 386,804 · +22.6%
• By 2075: 465,480 · +47.5%
• By 2100: 519,959 · +64.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 49% White 38% Hispanic / Latino 6% Two or more races 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 1% Cuban 1%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Leon

• 2024 margin: Strong D (+21.8) · D 60.3% · R 38.5% · Other 1.2%
• 2008→2024 swing: -2.5pp toward R · 2008: 24.3pp · 2024: 21.8pp
• All cycles: 2024: D+21.8 2020: D+28.3 2016: D+25.1 2012: D+23.6 2008: D+24.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -231.50%
• Current HPI: 231.103
• Rent YoY: ▲ 4.16%
• Metro: Tallahassee, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+120.5% since first listed

8 events — show timeline

• 2026-05-14 Price Changed $129,000 CATRS
• 2026-04-03 Price Changed $139,000 CATRS
• 2026-02-19 Price Changed $149,000 CATRS
• 2025-12-09 Listed $160,000 CATRS
• 2015-01-21 Listing Removed — CATRS
• 2013-01-28 Listed $34,100 CATRS
• 2006-02-09 Sold (Public Records) $109,000 Public Records
• 1981-10-01 Sold (Public Records) $58,500 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,731 · +8.8% YoY. Source: county tax records.