1571 Stone Rd Unit 11 B · Tallahassee, FL 32303

$125,000

2 bd · 2.0 ba · 1,058 sqft · Condo public records · 1 Days on market

Built 1984 $350/mo HOA · 24% of rent

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Why this score? — see what drove the D 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 +10.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.3/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 2/2 condo in Wood Ridge Condominiums, end unit with fireplace and inside utility area with washer/dryer. Located in quiet area at rear of complex away from street noise. Price reduced for quick sale. Perfect for investors or first-time homebuyers! Community pool and tennis court. Very close to schools, N. Monroe, I-10 and downtown. This condo comples is approved for FHA financing! Unit is in good condition and currently rented with tenants on month to month lease. Could be purchased as investment with tenants already in place. * * Must schedule appt. the day before showing. * *

Key facts

• $350 HOA
• Community pool
• Built 1984

Property features AI

Finance

• HOA & community: Association fee $4,200; HOA covers common areas, grounds maintenance, structure maintenance, pool(s), and trash; Community pool

Exterior

• Parking: Parking spaces
• Utilities: Public sewer
• Home design: Single-story; Stucco and wood siding exterior; Slab foundation; Paved road access
• Construction: Stucco; Wood siding; Slab foundation
• Exterior features: Community pool

Interior

• Kitchen: Refrigerator; Range; Oven; Microwave; Dishwasher; Disposal
• Bedrooms: Bedroom 2 (12 x 11); Additional room (14 x 16)
• Flooring: Plank flooring; Tile flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Wood heating; Central air conditioning; Ceiling fans; Electric cooling
• Interior features: End unit; Tray ceilings; Vaulted ceilings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $-65 ($-785/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (9.2% below list).
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $113k (9.2% below list) — sets the bar for cash-flow.
• Cap rate 5.7% 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 (+3.1%/yr); 238 active listings in the ZIP; 37 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $70k; list at $125k implies a 80% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• 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 $113,442 (9.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.15% ✓
• Cap rate: 5.66%
• Cash-on-cash: -2.24%
• DSCR: 0.90
• GRM: 7.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -19.6%
• Equity multiple: 0.31×
• Total profit: $-24,022
• Equity at exit: $18,638

10-year hold

• IRR: -11.6%
• Equity multiple: 0.30×
• Total profit: $-24,648
• Equity at exit: $10,808

Cash invested: $35,000 (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 32303

• Rents YoY: 3.1%
• Active inventory: 238
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,434 high
• Mortgage (P&I): −$656
• Tax from tax record: −$141 /mo · $1,688/yr
• Insurance: −$52
• HOA: −$350
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $-65

Break-even live

Break-even rent $1,517

Max offer price $113,442

Occupancy floor 100%

Sensitivity live

Price	-10% $5	-5% $-30	+0% $-65	+5% $-101	+10% $-136
Rent	-10% $-179	-5% $-122	+0% $-65	+5% $-9	+10% $48
Rate	-1.0pp $-2	-0.5pp $-34	base $-65	+0.5pp $-98	+1.0pp $-131

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1571 Stone Rd Unit 5B Tallahassee, FL	2.0	2.5	1216	$1,795	$1.48	22d	1	0.06mi
2309 Old Bainbridge Rd Tallahassee, FL	1.0–2.0	1.0–2.0	798	$1,420	$1.78	14d	10	0.08mi
1447 Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	890	$1,360	$1.53	22d	1	0.09mi
2400 Fred Smith Rd #201 Tallahassee, FL	3.0	3.0	1353	$1,650	$1.22	22d	1	0.09mi
2301 Old Bainbridge Rd Tallahassee, FL	2.0–3.0	1.0–2.0	1084	$1,200	$1.11	22d	1	0.17mi
1818 Sylvan Ct Unit D Tallahassee, FL	2.0	1.0	850	$1,200	$1.41	14d	1	0.30mi
1600 Pullen Rd Tallahassee, FL	1.0–2.0	1.0–2.0	875	$1,345	$1.54	14d	1	0.36mi
2520 Graves Rd #103 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	22d	1	0.37mi
1210 Stone Rd Tallahassee, FL	2.0	2.0	1008	$1,200	$1.19	22d	1	0.40mi
2401 Atlas Rd Unit B Tallahassee, FL	2.0	1.0	900	$1,100	$1.22	22d	1	0.76mi
2660 Old Bainbridge Rd Tallahassee, FL	3.0	2.5	1196	$1,550	$1.30	22d	2	0.78mi
2412 Atlas Rd Tallahassee, FL	3.0	1.5	1081	$1,200	$1.11	22d	1	0.78mi
2677 Old Bainbridge Rd Tallahassee, FL	1.0–3.0	1.5–3.5	1395	$1,586	$1.14	14d	28	0.80mi
2419 Nugget Ln Tallahassee, FL	3.0	2.0	1212	$1,550	$1.28	14d	1	0.82mi
2350 Wanda Way Tallahassee, FL	2.0–3.0	1.0	861	$1,200	$1.39	22d	1	0.86mi
2498 Nugget Ln Tallahassee, FL	3.0	2.0	1200	$1,550	$1.29	22d	1	0.86mi
1325 W Tharpe St Tallahassee, FL	1.0–3.0	1.0–4.0	937	$1,511	$1.61	14d	21	0.90mi
2403 Hartsfield Rd #602 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	22d	1	1.06mi
2403 Hartsfield Rd #602 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	14d	1	1.06mi
2711 Allen Rd Tallahassee, FL	1.0–2.0	1.0–2.0	825	$1,125	$1.36	14d	4	1.07mi
2406 Hartsfield Rd Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	22d	1	1.07mi
1560 San Luis Rd Tallahassee, FL	3.0	3.5	1500	$774	$0.52	22d	22	1.20mi
1360 Ocala Rd Tallahassee, FL	2.0	1.0	800	$1,000	$1.25	22d	1	1.20mi
2915 Sharer Rd Tallahassee, FL	2.0–4.0	2.0–4.0	1086	$1,335	$1.23	14d	30	1.21mi
1380 Ocala Rd Tallahassee, FL	1.0	1.0	700	$975	$1.39	22d	1	1.22mi
1303 Ocala Rd Tallahassee, FL	1.0–4.0	1.0–2.0	1121	$1,320	$1.18	14d	48	1.26mi
1111 High Rd Tallahassee, FL	2.0–3.0	2.0	1000	$1,409	$1.41	14d	11	1.28mi
1108 Greentree Ct Tallahassee, FL	2.0	2.0	888	$1,275	$1.44	22d	1	1.28mi
1012 Sharer Ct Tallahassee, FL	2.0	2.0	1024	$1,450	$1.42	14d	1	1.30mi
2259 Parrot Ln Tallahassee, FL	2.0	2.0	992	$1,275	$1.29	22d	1	1.31mi
1916 Nannette Dr Unit 1916 Tallahassee, FL	2.0	1.0	1000	$1,100	$1.10	14d	1	1.32mi
2327 Parrot Ln Tallahassee, FL	3.0	2.0	1088	$1,300	$1.19	22d	1	1.33mi
2020 Continental Ave Tallahassee, FL	1.0–2.0	1.0–1.5	850	$1,300	$1.53	22d	3	1.34mi
2060 Continental Ave Tallahassee, FL	1.0–3.0	1.0–2.5	1121	$1,052	$0.94	14d	26	1.36mi
1107 Basin St Unit A Tallahassee, FL	3.0	2.0	1215	$2,400	$1.98	22d	1	1.39mi
1935 Dawsey St Unit 1935-2 Tallahassee, FL	2.0	1.0	875	$975	$1.11	14d	1	1.41mi
832 Arkansas St Tallahassee, FL	3.0	1.0	1296	$1,400	$1.08	22d	1	1.44mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $125,000 Active 1 DOM

ⓘ 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: $1,688 · $141/mo
• Projected year-2 tax: $1,688 · $141/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 1/10 Low
• 🌡 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 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,208
• − Mortgage interest: −$7,002
• − Property taxes: −$1,688
• − Insurance: −$625
• − Repairs & maintenance: −$1,377
• − Management: −$1,377
• − HOA: −$4,200
• − Depreciation: −$3,636
• Taxable loss: −$2,697
• Est. tax savings @ 24.0%: +$647
• After-tax cash flow: $-138/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): 49,785
• Household income: $62,275
• Rent vs Own: 48.8% rent · 51.2% own
• Severe rent burden: 2919.0

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 0.63)
• Race & ethnicity: White 50% Black 34% Hispanic / Latino 8% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 2%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 89% English-only · Spanish 5% Arabic 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: ▼ -255.24%
• Current HPI: 241.3131
• Rent YoY: ▲ 3.12%
• 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

+119.3% since first listed

25 events — show timeline

• 2026-06-18 Relisted — CATRS
• 2026-06-11 Listing Removed — CATRS
• 2026-05-28 Listed $125,000 CATRS
• 2010-06-24 Sold (Public Records) $69,500 Public Records
• 2010-06-22 Sold (MLS) $69,500 CATRS
• 2010-01-16 Listed $69,900 CATRS
• 2002-09-24 Sold (Public Records) $68,000 Public Records
• 1996-09-18 Sold (Public Records) $50,000 Public Records
• 1996-09-18 Sold (Public Records) $50,000 Public Records
• 1996-09-18 Sold (Public Records) $50,000 Public Records
• 1996-09-18 Sold (Public Records) $50,000 Public Records
• 1996-09-18 Sold (Public Records) $50,000 Public Records
• 1996-09-18 Sold (Public Records) $50,000 Public Records
• 1996-09-18 Sold (Public Records) $50,000 Public Records
• 1996-09-18 Sold (Public Records) $50,000 Public Records
• 1996-08-27 Sold (Public Records) $50,000 Public Records
• 1996-08-27 Sold (Public Records) $50,000 Public Records
• 1996-08-26 Sold (Public Records) $50,000 Public Records
• 1996-08-26 Sold (Public Records) $50,000 Public Records
• 1996-08-26 Sold (Public Records) $50,000 Public Records
• 1996-08-26 Sold (Public Records) $50,000 Public Records
• 1996-08-26 Sold (Public Records) $50,000 Public Records
• 1996-08-26 Sold (Public Records) $50,000 Public Records
• 1996-06-10 Sold (Public Records) $62,000 Public Records
• 1996-01-30 Sold (Public Records) $57,000 Public Records

Property tax history

+15.2%/yr

Latest (2025): $1,688 · +9.1% YoY. Source: county tax records.