2061 Warwick St · Tallahassee, FL 32310

$148,500

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 85 Days on market

Built 1958 0.27 ac lot Est $126k · 18% 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 +18.8/30.0
• DSCR +5.9/10.0
• Appreciation +4.7/10.0
• 1% rule +4.4/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

3BR/1BA currently rented. CALLING ALL INVESTORS!!! Located close to FSU and FAMU campus. SHORT SALE APPROVED !

Key facts

• 0.27 acre lot
• Parking
• Built 1958

Property features AI

Finance

• Other: For Sale

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Single-story home; Block and concrete construction
• Construction: Block and concrete construction
• Exterior features: Publicly maintained road

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Kitchen (15 x 7)
• Bedrooms: Bedroom 2 (11 x 9); Bedroom 3 (11 x 11)
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (5.8% below list).
• Recommended offer: $140k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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: 94 active listings in the ZIP; 24 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).
• This rent runs 44% of the median local income ($38k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $223 of equity ($1k loan paydown + $-804 appreciation (-0.5% local appreciation)).
• 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 85 days — a 6% lower offer ($140k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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 $20k; list at $148k implies a 624% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,590 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.94% ✗
• Cap rate: 7.49%
• Cash-on-cash: 4.28%
• DSCR: 1.19
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $126,144
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2056 Warwick St	0.03mi	3/1.0	864 (0%)	1mo	$90,000	$104	98
1222 Hutchinson St	0.04mi	3/1.0	864 (0%)	9mo	$92,000	$106	91
2034 Hillsborough St	0.18mi	3/1.0	888 (+3%)	4mo	$140,000	$158	84
1410 Coleman St	0.22mi	2/1.0 (-1)	900 (+4%)	2mo	$193,750	$215	76
2014 Keith	0.38mi	2/1.0 (-1)	800 (-7%)	6mo	$137,500	$172	60
2031 Holmes St	0.13mi	2/1.0 (-1)	737 (-15%)	8mo	$107,500	$146	58
1820 Keith St	0.45mi	3/1.0	975 (+13%)	1mo	$140,000	$144	56
1605 Mayhew St	0.70mi	3/1.0	912 (+6%)	8mo	$165,000	$181	52
1631 Mccaskill Ave	0.50mi	2/1.0 (-1)	946 (+10%)	5mo	$98,000	$104	52
1420 Elberta Dr	0.53mi	3/1.0	780 (-10%)	9mo	$84,000	$108	51
1233 Stuckey Ave	0.38mi	2/1.0 (-1)	754 (-13%)	8mo	$98,000	$130	50
1508 Pepper Dr	0.64mi	2/1.0 (-1)	764 (-12%)	9mo	$125,000	$164	38

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

Projected returns pro-forma

-0.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,336
• Equity at exit: $39,145

10-year hold

• IRR: 6.8%
• Equity multiple: 1.69×
• Total profit: $28,591
• Equity at exit: $43,988

Cash invested: $41,580 (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 32310

• Home prices YoY: -0.2%
• Active inventory: 94
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,399 high
• Mortgage (P&I): −$779
• Tax from tax record: −$116 /mo · $1,395/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $148

Break-even live

Break-even rent $1,211

Max offer price $148,500

Occupancy floor 84%

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: $37,125
• Closing costs: $4,455
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1616 McCaskill Ave Tallahassee, FL	1.0–2.0	1.0	750	$969	$1.29	21d	43	0.44mi
2332 Keith St Tallahassee, FL	2.0	1.0	650	$1,050	$1.62	21d	1	0.49mi
1426 Pepper Dr Tallahassee, FL	2.0	1.0	858	$1,250	$1.46	21d	1	0.61mi
643 Kissimmee St Tallahassee, FL	2.0	1.0	800	$1,595	$1.99	21d	1	0.63mi
635 Palm Beach St Apt 125 Tallahassee, FL	2.0	2.0	900	$900	$1.00	21d	1	0.67mi
1643 Sharkey St Tallahassee, FL	3.0	1.0	912	$1,350	$1.48	21d	1	0.77mi
1303 Airport Dr Unit A08 Tallahassee, FL	2.0	2.5	1083	$1,475	$1.36	21d	1	0.83mi
1606 Airport Dr Tallahassee, FL	3.0	2.0	1008	$1,395	$1.38	21d	1	0.84mi
509 Famcee Ave Tallahassee, FL	3.0	2.0	1079	$1,700	$1.58	21d	1	0.92mi
3178 N Ridge Rd Apt A Tallahassee, FL	2.0	2.0	995	$1,350	$1.36	13d	1	0.93mi
930 S Lipona Rd Unit D Tallahassee, FL	2.0	2.0	896	$1,295	$1.45	21d	1	0.99mi
833 W Gaines St Tallahassee, FL	2.0	2.0	1080	$2,350	$2.18	13d	2	1.06mi
1737 S M L King Jr Blvd Tallahassee, FL	3.0	1.0	701	$1,450	$2.07	21d	1	1.18mi
1533 S Bronough St Tallahassee, FL	2.0	1.0	750	$1,150	$1.53	13d	1	1.26mi
301 S Lipona Rd #24 Tallahassee, FL	2.0	1.5	896	$1,350	$1.51	21d	1	1.30mi
1854 Belle Vue Way Tallahassee, FL	2.0–4.0	1.0–2.0	1100	$1,768	$1.61	21d	1	1.30mi
318 W Harrison St Unit 324 Tallahassee, FL	2.0	1.0	525	$1,000	$1.90	21d	1	1.32mi
2125 Jackson Bluff Rd Tallahassee, FL	1.0–3.0	1.0–2.0	975	$1,399	$1.43	21d	4	1.32mi
220 Atkinson Dr Unit D Tallahassee, FL	2.0	1.0	928	$1,100	$1.19	21d	1	1.33mi
1402 Melvin St #1 Tallahassee, FL	2.0	1.0	550	$1,100	$2.00	21d	1	1.35mi
2131 Jackson Bluff Rd Tallahassee, FL	2.0	2.0	1043	$1,257	$1.21	13d	3	1.35mi
1504 S Adams St #1 Tallahassee, FL	2.0	2.0	1088	$1,300	$1.19	13d	1	1.39mi
3000 S Adams St Tallahassee, FL	1.0–3.0	1.0–3.0	884	$1,850	$2.09	21d	8	1.42mi
316 Ausley Rd Tallahassee, FL	1.0–4.0	1.0–2.0	750	$1,197	$1.60	13d	8	1.47mi

Listing history 22 events

1. 2026-06-18
   days on market $148,500 Active 85 DOM
2. 2026-06-17
   days on market $148,500 Active 84 DOM
3. 2026-06-16
   days on market $148,500 Active 83 DOM
4. 2026-06-15
   days on market $148,500 Active 82 DOM
5. 2026-06-14
   days on market $148,500 Active 80 DOM
6. 2026-06-10
   days on market $148,500 Active 77 DOM
7. 2026-06-09
   days on market $148,500 Active 76 DOM
8. 2026-06-08
   days on market $148,500 Active 75 DOM
9. 2026-06-07
   days on market $148,500 Active 74 DOM
10. 2026-06-05
    days on market $148,500 Active 71 DOM
11. 2026-06-03
    days on market $148,500 Active 70 DOM
12. 2026-06-02
    days on market $148,500 Active 69 DOM
13. 2026-06-01
    days on market $148,500 Active 68 DOM
14. 2026-05-31
    days on market $148,500 Active 67 DOM
15. 2026-05-30
    days on market $148,500 Active 66 DOM
16. 2026-03-16
    listed $148,500 Active
17. 2011-02-14
    soldstatus $20,500 111-char remark

    Show marketing remark (111 chars)

    3BR/1BA currently rented. CALLING ALL INVESTORS!!! Located close to FSU and FAMU campus. SHORT SALE APPROVED !

18. 2009-09-02
    listed $30,500 111-char remark

    Show marketing remark (111 chars)

    3BR/1BA currently rented. CALLING ALL INVESTORS!!! Located close to FSU and FAMU campus. SHORT SALE APPROVED !

19. 2009-08-28
    historical
20. 2009-04-13
    listed $67,000
21. 1999-10-14
    soldstatus $287,900
22. 1999-06-29
    soldstatus $32,500

ⓘ 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: $1,395 · $116/mo
• Projected year-2 tax: $1,395 · $116/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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,786
• − Mortgage interest: −$8,318
• − Property taxes: −$1,395
• − Insurance: −$742
• − Repairs & maintenance: −$1,343
• − Management: −$1,343
• − Depreciation: −$4,320
• Taxable loss: −$676
• Est. tax savings @ 24.0%: +$162
• After-tax cash flow: $1,940/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): 14,888
• Household income: $38,288
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1272.0

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 50% White 36% Hispanic / Latino 9% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1% German/W. Germanic 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: ▼ -0.54%
• Current HPI: 270.5721
• Rent YoY: —
• 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

+356.9% since first listed

7 events — show timeline

• 2026-03-16 Listed $148,500 CATRS
• 2011-02-14 Sold (MLS) $20,500 CATRS
• 2009-09-02 Listed $30,500 CATRS
• 2009-08-28 Listing Removed — CATRS
• 2009-04-13 Listed $67,000 CATRS
• 1999-10-14 Sold (Public Records) $287,900 Public Records
• 1999-06-29 Sold (Public Records) $32,500 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,395 · +9.4% YoY. Source: county tax records.