1208 Cross Creek Way #1 · Tallahassee, FL 32301

$202,900

3 bd · 2.5 ba · 1,328 sqft · Townhouse public records · 49 Days on market

Built 1981 3,920 sqft lot Est $203k · at est.

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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 +11.3/30.0
• ARV discount +7.6/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.5/5.0
• 1% rule +3.4/10.0
• DSCR +3.3/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover this awesome 3 Bed/2.5 Bath end-unit townhouse with a garage on Tallahassee’s East side! This home features tile flooring throughout, a spacious U-shaped kitchen with great cabinet space, and a stunning stone fireplace that serves as the centerpiece of the living area. Enjoy stylish touches like a decorative backsplash and paint, plus a large laundry room for added convenience. The primary suite offers a walk-in closet and direct access to a newly redone balcony. Major updates include a 2020 roof, 2024 HVAC, and replaced siding around 2017 so it's totally move-in ready with peace of mind for big ticket items! Tucked away on a private street with a serene greenspace view, this

Key facts

• Walk-in closet
• Large laundry room
• End-unit townhouse

Tags

• END-UNIT TOWNHOUSE
• SPACIOUS U-SHAPED KITCHEN
• STONE FIREPLACE
• DECORATIVE BACKSPLASH
• LARGE LAUNDRY ROOM
• WALK-IN CLOSET

Property features AI

Finance

• Financial info: For sale

Exterior

• Parking: 1-car garage
• Home design: 2 stories; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Paved road access; Has view

Interior

• Kitchen: Dishwasher; Disposal; Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (8x10); Bedroom 3 (12x9); Upper-level primary bedroom
• Flooring: Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Wood heating; Central air conditioning; Ceiling fan(s)
• Interior features: End unit; Upper-level primary; Tile flooring; Has view
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $203k.

Deal economics

• At list price, monthly cash flow is $-74 ($-892/yr) — negative.
• To cash-flow at today's rent, offer at most $190k (6.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (16.5% below list).
• Recommended offer: $169k (16.5% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 40% 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 $1k of loan paydown is wiped out by about $6k 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 49 days — a 3% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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 $56k; list at $203k implies a 259% gain — meaningful room to come down on a strong offer.

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 $169,468 (16.5% 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. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
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: 0.84% ✗
• Cap rate: 5.85%
• Cash-on-cash: -1.57%
• DSCR: 0.93
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $203,184
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2924 Cross Creek Ct	0.16mi	3/2.0	1,270 (-4%)	3mo	$223,000	$176	81
2904 Cross Creek Ct	0.13mi	2/2.0 (-1)	1,288 (-3%)	1mo	$200,000	$155	81
2910 Cross Creek Ct	0.13mi	2/2.0 (-1)	1,288 (-3%)	9mo	$215,000	$167	74
3097 Camelliawood Cir	0.33mi	2/2.0 (-1)	1,316 (-1%)	4mo	$225,000	$171	73
1288 Cross Creek Cir	0.17mi	2/2.0 (-1)	1,382 (+4%)	10mo	$184,000	$133	70
2308 Tina Dr	0.45mi	3/2.0	1,242 (-6%)	2mo	$190,000	$153	65
2992 Woodrich Dr #2	0.26mi	3/2.0	1,203 (-9%)	10mo	$167,500	$139	62
1305 Cross Creek Cir	0.22mi	2/1.5 (-1)	1,408 (+6%)	11mo	$200,000	$142	62
671 Chicopee Ct	0.60mi	2/2.0 (-1)	1,290 (-3%)	1mo	$220,000	$171	59
1362 Castelnau Ct Unit 3-C	0.65mi	3/2.0	1,242 (-6%)	6mo	$185,000	$149	51
1363 Castelnau Ct Unit A	0.64mi	3/2.0	1,224 (-8%)	7mo	$148,000	$121	49
1483 Live Oak Dr	0.64mi	2/2.0 (-1)	1,144 (-14%)	9mo	$139,500	$122	32

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 · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.37×
• Total profit: $-35,579
• Equity at exit: $30,253

10-year hold

• IRR: -7.6%
• Equity multiple: 0.50×
• Total profit: $-28,540
• Equity at exit: $17,543

Cash invested: $56,812 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,695 high
• Mortgage (P&I): −$1,064
• Tax from tax record: −$265 /mo · $3,175/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $-74

Break-even live

Break-even rent $1,789

Max offer price $189,770

Occupancy floor 99%

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: $50,725
• Closing costs: $6,087
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2902 Battle Mountain Rd Tallahassee, FL	2.0	2.0	1160	$1,324	$1.14	21d	4	0.10mi
430 Grail Ct Tallahassee, FL	3.0	2.0	1252	$2,300	$1.84	21d	1	0.24mi
432 Merlin Way Tallahassee, FL	3.0	2.0	1453	$2,150	$1.48	21d	1	0.29mi
1320 Hendrix Rd #301 Tallahassee, FL	3.0	2.5	1554	$1,695	$1.09	21d	1	0.51mi
501 S Blair Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	1080	$1,605	$1.49	21d	1	0.55mi
599 Chicopee Ct Unit D Tallahassee, FL	2.0	1.0	900	$1,095	$1.22	21d	1	0.55mi
581 Holyoke Ct Apt C Tallahassee, FL	2.0	1.0	995	$1,125	$1.13	21d	1	0.57mi
410 Victory Garden Dr Tallahassee, FL	1.0–3.0	1.0–2.5	1183	$1,695	$1.43	21d	1	0.61mi
2750 Old Saint Augustine Rd Tallahassee, FL	1.0–3.0	1.0–2.0	1230	$1,739	$1.41	21d	2	0.75mi
3148 Dick Wilson Blvd Tallahassee, FL	1.0–3.0	1.0–2.0	1536	$1,940	$1.26	13d	14	0.79mi
2001 Old Saint Augustine Rd Tallahassee, FL	1.0–2.0	1.0–2.0	875	$1,436	$1.64	13d	11	0.80mi
2912 Capital Park Dr Tallahassee, FL	3.0	2.0	1236	$1,650	$1.33	13d	1	0.81mi
1736 Augustine Pl Tallahassee, FL	3.0	2.0	1400	$2,000	$1.43	21d	1	0.81mi
1515 Paul Russell Rd #85 Tallahassee, FL	3.0	2.5	1482	$1,400	$0.94	21d	1	0.83mi
1572 Keily Run Unit 1572 Tallahassee, FL	2.0	2.0	1200	$1,250	$1.04	21d	1	0.88mi
2729 Blair stone Ln Unit 1 Tallahassee, FL	3.0	1.5	1280	$1,550	$1.21	21d	1	0.96mi
1575 Paul Russell Rd Tallahassee, FL	3.0	2.5	1705	$1,700	$1.00	21d	1	1.07mi
2074 Midyette Rd Tallahassee, FL	2.0–3.0	2.0	1033	$1,346	$1.30	13d	1	1.10mi
1942 Darryl Dr Unit 1 Tallahassee, FL	2.0	2.0	1200	$2,300	$1.92	21d	1	1.10mi
1872 Darryl Dr Tallahassee, FL	2.0	2.0	1062	$1,500	$1.41	21d	1	1.11mi
2250 Bluff Oak Way Tallahassee, FL	1.0–3.0	1.0–2.0	1538	$1,978	$1.29	13d	17	1.15mi
3373 Apalachee Pkwy Tallahassee, FL	1.0–2.0	1.0–2.0	779	$1,258	$1.61	13d	1	1.21mi
2779 Blair Stone Ct Tallahassee, FL	3.0	2.5	1751	$2,200	$1.26	13d	1	1.23mi
900 Riggins Rd Tallahassee, FL	1.0–3.0	1.0–2.0	997	$2,060	$2.07	13d	39	1.45mi
1411 Lazy Brk Unit D Tallahassee, FL	2.0	1.0	950	$1,150	$1.21	21d	1	1.47mi
1412 Ramble Brk Unit C Tallahassee, FL	2.0	1.0	950	$1,050	$1.11	21d	1	1.48mi

Listing history 25 events

1. 2026-06-18
   days on market $202,900 Active 49 DOM
2. 2026-06-17
   days on market $202,900 Active 48 DOM
3. 2026-06-16
   days on market $202,900 Active 47 DOM
4. 2026-06-15
   days on market $202,900 Active 46 DOM
5. 2026-06-14
   days on market $202,900 Active 44 DOM
6. 2026-06-10
   days on market $202,900 Active 41 DOM
7. 2026-06-09
   days on market $202,900 Active 40 DOM
8. 2026-06-08
   days on market $202,900 Active 39 DOM
9. 2026-06-07
   days on market $202,900 Active 38 DOM
10. 2026-06-05
    days on market $202,900 Active 35 DOM
11. 2026-06-03
    days on market $202,900 Active 34 DOM
12. 2026-06-02
    days on market $202,900 Active 33 DOM
13. 2026-06-01
    days on market $202,900 Active 32 DOM
14. 2026-05-31
    days on market $202,900 Active 31 DOM
15. 2026-05-30
    days on market $202,900 Active 30 DOM
16. 2026-05-15
    status Active
17. 2026-05-14
    historical
18. 2026-04-29
    listed $202,900 Active
19. 2026-04-29
    historical
20. 2025-07-30
    listed $215,000 Active
21. 2023-09-05
    historical
22. 2023-07-14
    status Active
23. 2023-07-13
    listed $199,900 Active
24. 2023-07-13
    historical
25. 1981-10-01
    soldstatus $56,500

ⓘ 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: $3,175 · $265/mo
• Projected year-2 tax: $3,175 · $265/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 3/10 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: $20,336
• − Mortgage interest: −$11,366
• − Property taxes: −$3,175
• − Insurance: −$1,014
• − Repairs & maintenance: −$1,627
• − Management: −$1,627
• − Depreciation: −$5,903
• Taxable loss: −$4,375
• Est. tax savings @ 24.0%: +$1,050
• After-tax cash flow: $158/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

+259.1% since first listed

10 events — show timeline

• 2026-05-15 Relisted — CATRS
• 2026-05-14 Listing Removed — CATRS
• 2026-04-29 Listing Removed — CATRS
• 2026-04-29 Listed $202,900 CATRS
• 2025-07-30 Listed $215,000 CATRS
• 2023-09-05 Listing Removed — CATRS
• 2023-07-14 Relisted — CATRS
• 2023-07-13 Listing Removed — CATRS
• 2023-07-13 Listed $199,900 CATRS
• 1981-10-01 Sold (Public Records) $56,500 Public Records

Property tax history

+6.9%/yr

Latest (2025): $3,175 · +10.3% YoY. Source: county tax records.