1316 Burgess Dr · Tallahassee, FL 32304

$115,000

2 bd · 2.0 ba · 880 sqft · Townhouse public records · 119 Days on market

Built 1983 6,969 sqft lot Est $93k · 23% over

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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 +21.1/30.0
• DSCR +6.7/10.0
• 1% rule +5.7/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property had a contract before listting. Just for records.

Key facts

• Enormous living room
• Fireplace
• Built 1983

Tags

• ENORMOUS LIVING ROOM
• ATTACHED FULL BATHROOM
• FIREPLACE
• SEPARATE LAUNDRY ROOM

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Parking space(s)
• Utilities: Public sewer
• Home design: Single-story; Fronts/iented direction not specified
• Exterior features: Deck; Private maintained road

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator; Stove
• Bedrooms: Bedroom 2 — 12 x 10
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Electric heating; Wood heating; Central air conditioning; Electric cooling
• Interior features: Tray ceilings; Vaulted ceilings; Fireplace

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $115k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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 (+4.7%/yr); 142 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,765 units permitted in Leon County in 2024 (975 in 5+ unit buildings).
• At $1,230/mo this rent would consume 46% of the median local household income ($32k/yr) (locally 6995% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 119 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask is 10355% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $35k; list at $115k implies a 229% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.07% ✓
• Cap rate: 8.00%
• Cash-on-cash: 6.09%
• DSCR: 1.27
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $93,280
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1322 Burgess Dr	0.02mi	2/2.0	880 (0%)	11mo	$145,000	$165	90
3234 Nekoma Ln	0.71mi	2/1.5	896 (+2%)	1mo	$95,000	$106	61
3238 Nekoma Ln	0.72mi	2/1.5	896 (+2%)	7mo	$66,000	$74	55

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 · 4.69% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-6,074
• Equity at exit: $17,147

10-year hold

• IRR: 6.6%
• Equity multiple: 1.54×
• Total profit: $17,256
• Equity at exit: $9,943

Cash invested: $32,200 (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 32304

• Home prices YoY: -21.2%
• Rents YoY: 4.7%
• Active inventory: 142
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,230 high
• Mortgage (P&I): −$603
• Tax from tax record: −$158 /mo · $1,890/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $163

Break-even live

Break-even rent $1,023

Max offer price $115,000

Occupancy floor 82%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1557 Devoe St Unit 2 Tallahassee, FL	2.0	1.0	750	$1,350	$1.80	21d	1	0.75mi
2614 W Tennessee St Tallahassee, FL	1.0–4.0	1.0–4.0	1270	$1,159	$0.91	21d	14	0.84mi
2616 Mission Rd Tallahassee, FL	1.0–2.0	1.0	750	$1,195	$1.59	13d	12	0.91mi
2765 W Tharpe St Tallahassee, FL	1.0–2.0	1.0	739	$1,000	$1.35	13d	1	0.93mi
103 Cactus St Tallahassee, FL	2.0–4.0	1.0–2.0	1000	$1,195	$1.20	13d	3	1.12mi
2749 Pecan Rd Tallahassee, FL	1.0–2.0	1.0–2.0	900	$1,300	$1.44	13d	1	1.16mi
2353 W Mission Rd Tallahassee, FL	2.0–3.0	2.0–2.5	1012	$1,250	$1.23	13d	11	1.23mi
2350 Horne Ave Unit 2 Tallahassee, FL	2.0	2.0	800	$995	$1.24	21d	1	1.32mi
2349 Horne Ave Unit C Tallahassee, FL	2.0	1.0	680	$1,100	$1.62	13d	1	1.33mi
218 White Dr Tallahassee, FL	1.0	1.0	660	$995	$1.51	21d	1	1.39mi
214 White Dr Unit F Tallahassee, FL	1.0	1.0	656	$1,200	$1.83	21d	1	1.41mi
2327 Parrot Ln Tallahassee, FL	3.0	2.0	1088	$1,300	$1.19	21d	1	1.43mi
205 White Dr Tallahassee, FL	1.0–4.0	1.0–4.0	1155	$637	$0.55	21d	1	1.45mi
2259 Parrot Ln Tallahassee, FL	2.0	2.0	992	$1,275	$1.29	21d	1	1.46mi

Listing history 27 events

1. 2026-06-18
   days on market $115,000 Active 119 DOM
2. 2026-06-17
   days on market $115,000 Active 118 DOM
3. 2026-06-16
   days on market $115,000 Active 117 DOM
4. 2026-06-15
   days on market $115,000 Active 116 DOM
5. 2026-06-14
   days on market $115,000 Active 114 DOM
6. 2026-06-10
   days on market $115,000 Active 111 DOM
7. 2026-06-09
   days on market $115,000 Active 110 DOM
8. 2026-06-08
   days on market $115,000 Active 109 DOM
9. 2026-06-07
   days on market $115,000 Active 108 DOM
10. 2026-06-05
    pricedays on market $115,000 Active 105 DOM
11. 2026-06-03
    days on market $119,000 Active 104 DOM
12. 2026-06-02
    days on market $119,000 Active 103 DOM
13. 2026-06-01
    days on market $119,000 Active 102 DOM
14. 2026-05-31
    days on market $119,000 Active 101 DOM
15. 2026-05-30
    days on market $119,000 Active 100 DOM
16. 2026-05-20
    historical $1,000
17. 2026-04-24
    price $1,000
18. 2026-03-25
    price $1,050
19. 2026-03-12
    price $119,000
20. 2026-03-03
    listed $1,100
21. 2026-02-19
    listed $124,000 Active
22. 2019-08-21
    soldstatus $35,000 58-char remark

    Show marketing remark (58 chars)

    Property had a contract before listting. Just for records.

23. 2019-07-26
    listed $35,000 58-char remark

    Show marketing remark (58 chars)

    Property had a contract before listting. Just for records.

24. 2006-06-02
    soldstatus $77,000
25. 2004-03-01
    soldstatus $55,000
26. 2000-08-03
    soldstatus $38,000
27. 1993-11-04
    soldstatus $33,000

ⓘ 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: $1,890 · $158/mo
• Projected year-2 tax: $1,890 · $158/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 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: $14,763
• − Mortgage interest: −$6,442
• − Property taxes: −$1,890
• − Insurance: −$575
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$3,345
• Taxable income: $149
• Est. tax owed @ 24.0%: −$36
• After-tax cash flow: $1,925/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

• County: Leon County · 294,472 people
• City population: 294,472
• Metro: Tallahassee, FL
• Population (ZIP): 51,673
• Household income: $32,348
• Rent vs Own: 86.5% rent · 13.5% own
• Severe rent burden: 6995.0

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 0.65)
• Race & ethnicity: White 45% Black 36% Hispanic / Latino 10% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 86% English-only · Spanish 7% Other Indo-European 2% 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: ▼ -72.04%
• Current HPI: 267.8426
• Rent YoY: ▲ 4.69%
• 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

-97.0% since first listed

12 events — show timeline

• 2026-05-20 Rental Removed $1,000 APPFOLIO
• 2026-04-24 Price Changed $1,000 APPFOLIO
• 2026-03-25 Price Changed $1,050 APPFOLIO
• 2026-03-12 Price Changed $119,000 CATRS
• 2026-03-03 Listed for Rent $1,100 APPFOLIO
• 2026-02-19 Listed $124,000 CATRS
• 2019-08-21 Sold (MLS) $35,000 CATRS
• 2019-07-26 Listed $35,000 CATRS
• 2006-06-02 Sold (Public Records) $77,000 Public Records
• 2004-03-01 Sold (Public Records) $55,000 Public Records
• 2000-08-03 Sold (Public Records) $38,000 Public Records
• 1993-11-04 Sold (Public Records) $33,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,890 · +25.1% YoY. Source: county tax records.