The McClain Plan · Tallahassee, FL 32317

$369,900

3 bd · 2.5 ba · 2,027 sqft · Townhouse · 30 Days on market

Excellent condition Garage

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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 +18.4/30.0
• ARV discount +7.5/15.0
• DSCR +5.8/10.0
• Schools +5.2/10.0
• Condition / age +5.0/5.0
• 1% rule +4.9/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the McClain in Fallschase, an exciting community in Tallahassee. This new townhome plan features 3 bedrooms, 2.5 bathrooms within over 2,000 square feet. Be one of the first to learn about this new floorplan!

Key facts

• Garage
• Listed 29 days

🏗️ New construction. The $369,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $377,253.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $370k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $370k).
• Recommended offer: $364k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• Zoned schools: W T Moore Elementary School (math 49% / reading 59%, grade C, #936 of 2,144 statewide, top 44%, 579 students, 42% FRL); Swift Creek Middle School (math 56% / reading 60%, grade B, #151 of 571 statewide, top 27%, 772 students, 33% FRL); Lincoln High School (math 37% / reading 54%, grade D-, #223 of 667 statewide, top 34%, 1,861 students, 28% FRL).
• Market conditions: 138 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,765 units permitted in Leon County in 2024 (975 in 5+ unit buildings).
• This rent runs 35% of the median local income ($129k/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 $3k of loan paydown is wiped out by about $11k 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 30 days — a 2% lower offer ($364k) is reasonable based on typical stale-listing flexibility.

Recommended offer $364,351 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.99% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.01%
• DSCR: 1.18
• GRM: 8.4

CMA / ARV

• ARV (median comp): $377,253
• List price: $369,900
• Delta: -1.95%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
424 Kenyon Pl	0.08mi	3/2.5	1,895 (-6%)	0mo	$342,900	$181	85
517 Dartez Ct	0.11mi	3/2.5	1,670 (-18%)	0mo	$399,900	$239	70
505 Dartez Ct	0.11mi	3/2.5	1,670 (-18%)	3mo	$399,900	$239	68
457 Dartez Ct	0.11mi	3/2.5	1,670 (-18%)	3mo	$399,900	$239	68
425 Dartez Ct	0.12mi	3/2.5	1,670 (-18%)	3mo	$399,900	$239	67
405 Dartez Ct	0.10mi	3/2.5	1,670 (-18%)	7mo	$405,000	$243	65
409 Dartez Ct	0.12mi	3/2.5	1,670 (-18%)	7mo	$399,900	$239	64
1578 Harbor Club Dr	1.12mi	3/2.0	1,847 (-9%)	2mo	$345,000	$187	46
3300 Shadowmoss Dr	1.12mi	3/2.0	1,847 (-9%)	12mo	$325,000	$176	38
1575 Miccosukee Loop	1.10mi	3/2.0	1,628 (-20%)	2mo	$320,000	$197	37
1543 Miccosukee Loop	1.11mi	3/2.0	1,628 (-20%)	7mo	$315,000	$193	32
1535 Miccosukee Loop	1.10mi	3/2.0	1,628 (-20%)	13mo	$315,000	$193	27

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -10.0%
• Equity multiple: 0.63×
• Total profit: $-38,583
• Equity at exit: $56,250

10-year hold

• IRR: -0.6%
• Equity multiple: 0.96×
• Total profit: $-4,405
• Equity at exit: $32,618

Cash invested: $105,631 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 26 active · 12 under contract
• Months of supply: 31.2 mo (3%/mo absorbed)
• Median asking: $372,450 ($196/sqft)
• Median days on market: 41 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: -5.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32317

• Home prices YoY: -26.5%
• Active inventory: 138
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $3,747 medium
• Mortgage (P&I): −$1,978
• Tax est. 1.5%: −$472 /mo · $5,659/yr
• Insurance: −$157
• HOA: −$0
• Vacancy / Maint / Mgmt: −$787
• Net cashflow: $353

Break-even live

Break-even rent $3,300

Max offer price $377,253

Occupancy floor 86%

Sensitivity live

Price	-10% $614	-5% $483	+0% $353	+5% $223	+10% $92
Rent	-10% $57	-5% $205	+0% $353	+5% $501	+10% $649
Rate	-1.0pp $543	-0.5pp $449	base $353	+0.5pp $255	+1.0pp $156

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: $94,313
• Closing costs: $11,318
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
308 Dahlonega Dr Tallahassee, FL	4.0	3.0	1881	$3,600	$1.91	117d	1	0.83mi
1625 Osprey Pointe Dr Tallahassee, FL	4.0	2.0	1898	$4,800	$2.53	6d	1	1.10mi

Property features AI

Finance

• Financial info: List price $369,900

Exterior

• Parking: 1 covered garage space (1 total parking space)
• Home design: Single-family plan (The McClain)
• Exterior features: Living area approximately 2027

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Plan: The McClain (new construction plan)

Listing history 50 events

1. 2026-09-24
   days on market $369,900 Active 30 DOM
2. 2026-09-23
   days on market $369,900 Active 29 DOM
3. 2026-09-22
   days on market $369,900 Active 28 DOM
4. 2026-09-21
   days on market $369,900 Active 27 DOM
5. 2026-09-20
   days on market $369,900 Active 26 DOM
6. 2026-09-18
   days on market $369,900 Active 24 DOM
7. 2026-09-17
   days on market $369,900 Active 23 DOM
8. 2026-09-16
   days on market $369,900 Active 22 DOM
9. 2026-09-15
   days on market $369,900 Active 21 DOM
10. 2026-09-14
    days on market $369,900 Active 20 DOM
11. 2026-09-13
    days on market $369,900 Active 19 DOM
12. 2026-09-12
    days on market $369,900 Active 18 DOM
13. 2026-09-11
    days on market $369,900 Active 17 DOM
14. 2026-09-05
    days on market $369,900 Active 11 DOM
15. 2026-09-04
    days on market $369,900 Active 10 DOM
16. 2026-09-03
    days on market $369,900 Active 9 DOM
17. 2026-08-31
    days on market $369,900 Active 6 DOM
18. 2026-08-30
    days on market $369,900 Active 5 DOM
19. 2026-08-29
    days on market $369,900 Active 4 DOM
20. 2026-08-28
    days on market $369,900 Active 3 DOM
21. 2026-08-27
    days on market $369,900 Active 2 DOM
22. 2026-08-25
    days on marketlisting id $369,900 Active 1 DOM
23. 2026-08-25
    days on market $369,900 Active 124 DOM
24. 2026-08-24
    days on market $369,900 Active 123 DOM
25. 2026-08-23
    days on market $369,900 Active 122 DOM
26. 2026-08-22
    days on market $369,900 Active 121 DOM
27. 2026-08-21
    days on market $369,900 Active 120 DOM
28. 2026-08-20
    days on market $369,900 Active 119 DOM
29. 2026-08-19
    days on market $369,900 Active 118 DOM
30. 2026-08-18
    days on market $369,900 Active 117 DOM
31. 2026-08-17
    days on market $369,900 Active 116 DOM
32. 2026-08-16
    days on market $369,900 Active 115 DOM
33. 2026-08-15
    days on market $369,900 Active 114 DOM
34. 2026-08-13
    days on market $369,900 Active 112 DOM
35. 2026-08-12
    days on market $369,900 Active 111 DOM
36. 2026-08-11
    days on market $369,900 Active 110 DOM
37. 2026-08-10
    days on market $369,900 Active 109 DOM
38. 2026-08-09
    days on market $369,900 Active 108 DOM
39. 2026-08-08
    days on market $369,900 Active 107 DOM
40. 2026-08-07
    days on market $369,900 Active 106 DOM
41. 2026-08-06
    days on market $369,900 Active 105 DOM
42. 2026-08-05
    days on market $369,900 Active 104 DOM
43. 2026-08-04
    days on market $369,900 Active 103 DOM
44. 2026-08-03
    days on market $369,900 Active 102 DOM
45. 2026-07-31
    days on market $369,900 Active 99 DOM
46. 2026-07-29
    days on market $369,900 Active 97 DOM
47. 2026-07-27
    days on market $369,900 Active 95 DOM
48. 2026-07-25
    days on market $369,900 Active 93 DOM
49. 2026-07-24
    days on market $369,900 Active 92 DOM
50. 2026-07-23
    days on market $369,900 Active 91 DOM

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

Taxation est. · year 1

• Rental income: $44,966
• − Mortgage interest: −$21,132
• − Property taxes: −$5,659
• − Insurance: −$1,886
• − Repairs & maintenance: −$3,597
• − Management: −$3,597
• − Depreciation: −$10,975
• Taxable loss: −$1,880
• Est. tax savings @ 24.0%: +$451
• After-tax cash flow: $4,689/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.

Condition & rehab AI · 2 photos

Excellent 100/100 None rehab

This newly constructed townhome in Fallschase, Tallahassee, is in excellent condition with no visible repairs or maintenance needed. It offers a great opportunity for investors looking to maximize both resale and rental value through minor updates.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in bathrooms and kitchen — Improves functionality and aesthetics ↑
• Both New lighting fixtures throughout — Enhances interior aesthetics and energy efficiency ↑

D Composite school gradezoned avg 52/100

Zoned Schools

Elementary W T Moore Elementary School C FL #936/2,144 Nat'l #10,700/41,679 Middle Swift Creek Middle School B FL #151/571 Nat'l #2,084/14,009 High Lincoln High School D- FL #223/667 Nat'l #6,744/17,239

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

A Composite livability gradescore 86/100

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

• County: Leon County · 315,507 people
• City population: 294,472
• Metro: Tallahassee, FL
• Population (ZIP): 14,654
• Household income: $128,690
• Rent vs Own: 10.8% rent · 89.2% own

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Black 15% Hispanic / Latino 8% Two or more races 7% Asian 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Slovak 4% Lithuanian 2% Italian 2%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 89% English-only · Spanish 5% Other Asian/Pacific 3% Other Indo-European 2%

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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: ▼ -88.81%
• Current HPI: 246.3858
• Rent YoY: —
• Metro: Tallahassee, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Financial info: List price $369,900

Exterior

• Parking: 1 covered garage space (1 total parking space)
• Home design: Single-family plan (The McClain)
• Exterior features: Living area approximately 2027

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms and 1 half bathroom (2.5 total)
• Interior features: Plan: The McClain (new construction plan)