2851 Botany Pl · Tallahassee, FL 32301

$152,900

3 bd · 3.0 ba · 1,224 sqft · Townhouse public records · 767 Days on market

Built 1996 2,178 sqft lot Est $185k · 17% under

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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 +21.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.7/10.0
• 1% rule +5.1/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Solid interior townhome unit. Look at this price for a 3 bedroom, 3 full bath townhome. Inside utility room. Small foyer leads into larger galley kitchen with bar and living room. Has view of Rickards High School Track and Field. Clean and neat but will need some updating and renovations. Good for all buyers. Being being sold as is.

Key facts

• Built 1996
• Listed 767 days

Property features AI

Exterior

• Parking: Parking space(s)
• Utilities: Public sewer
• Home design: Two-story home
• Construction: Vinyl siding
• Exterior features: Private maintained road; Paved road

Interior

• Kitchen: Dishwasher; Disposal; Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (12 x 10); Bedroom 3 (10 x 10); Additional bedroom/room (8 x 7)
• Flooring: Carpet; Engineered hardwood
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning; Ceiling fans
• Interior features: Entrance foyer; Pantry; Split bedrooms; Upper-level primary
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $153k.

Deal economics

• At list price, monthly cash flow is $219 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $153k).
• Recommended offer: $135k (12.0% 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 (+4.2%/yr); 121 active listings in the ZIP; 25 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 36% 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 $5k 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 767 days — a 12% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $40k; list at $153k implies a 278% 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 $134,552 (12.0% below list)

Questions for the listing agent

1. It's been on market 767 days. Have you received any prior offers? Is the seller open to a 12% 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. 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.
6. 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.
7. 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: 1.01% ✓
• Cap rate: 8.01%
• Cash-on-cash: 6.15%
• DSCR: 1.27
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $184,824
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2858 Botany Pl	0.03mi	4/4.0 (+1)	1,280 (+5%)	6mo	$206,000	$161	77
1714 N Beechwood Cir	0.47mi	2/2.0 (-1)	1,172 (-4%)	1mo	$145,000	$124	61
1731 S Beechwood Cir	0.52mi	2/2.5 (-1)	1,168 (-5%)	7mo	$255,000	$218	56
1725 S Beechwood Cir	0.50mi	2/2.5 (-1)	1,192 (-3%)	11mo	$180,000	$151	56
1738 Beechwood Cir	0.51mi	2/2.0 (-1)	1,240 (+1%)	13mo	$135,000	$109	54
1766 N Beechwood Cir	0.55mi	2/2.5 (-1)	1,264 (+3%)	11mo	$175,000	$138	53
1721 S Beechwood Cir	0.50mi	2/2.5 (-1)	1,152 (-6%)	12mo	$175,000	$152	50
1570 Three Lantern Ln	0.66mi	2/2.5 (-1)	1,308 (+7%)	3mo	$187,500	$143	48
1685 Kay Ave	0.75mi	2/1.5 (-1)	1,122 (-8%)	15mo	$173,500	$155	28

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-9,002
• Equity at exit: $22,798

10-year hold

• IRR: 5.3%
• Equity multiple: 1.41×
• Total profit: $17,732
• Equity at exit: $13,220

Cash invested: $42,812 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,540 high
• Mortgage (P&I): −$802
• Tax from tax record: −$131 /mo · $1,577/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $219

Break-even live

Break-even rent $1,262

Max offer price $152,900

Occupancy floor 81%

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: $38,225
• Closing costs: $4,587
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2873 Jim Lee Rd Tallahassee, FL	2.0	2.0	1000	$925	$0.93	21d	1	0.16mi
1730 Beechwood Cir N Tallahassee, FL	2.0	2.5	1216	$1,500	$1.23	21d	1	0.53mi
916 Saddle Creek Run Tallahassee, FL	4.0	2.0	1399	$1,750	$1.25	13d	1	0.74mi
1412 Ramble Brk Unit C Tallahassee, FL	2.0	1.0	950	$1,050	$1.11	21d	1	0.75mi
1411 Lazy Brk Unit D Tallahassee, FL	2.0	1.0	950	$1,150	$1.21	21d	1	0.75mi
735 Putnam Dr #2 Tallahassee, FL	3.0	2.5	1396	$1,650	$1.18	13d	1	0.77mi
3005 S Meridian St Tallahassee, FL	3.0	1.0	998	$2,300	$2.30	21d	1	0.96mi
4787 Cypress Brooke Way Tallahassee, FL	3.0	2.0	1220	$1,799	$1.47	21d	1	1.01mi
401 Putnam Dr Tallahassee, FL	1.0–2.0	1.0–2.0	766	$1,250	$1.63	21d	1	1.07mi
1872 Darryl Dr Tallahassee, FL	2.0	2.0	1062	$1,500	$1.41	21d	1	1.12mi
1942 Darryl Dr Unit 1 Tallahassee, FL	2.0	2.0	1200	$2,300	$1.92	21d	1	1.15mi
2221 Orange Ave E Tallahassee, FL	1.0–3.0	1.0–2.0	1007	$2,234	$2.22	13d	28	1.19mi
2729 Blair stone Ln Unit 1 Tallahassee, FL	3.0	1.5	1280	$1,550	$1.21	21d	1	1.22mi
2218 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	700	$1,200	$1.71	21d	7	1.23mi
2205 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	750	$1,225	$1.63	21d	1	1.24mi
2205 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	750	$1,225	$1.63	13d	9	1.24mi
301 Gaile Ave Tallahassee, FL	3.0	1.0	1009	$1,400	$1.39	13d	1	1.24mi
3501 S Blair Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	1190	$1,885	$1.58	13d	10	1.24mi
3450 S Blair Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	943	$1,997	$2.12	13d	25	1.24mi
418 Perkins St Tallahassee, FL	4.0	2.0	1497	$1,850	$1.24	21d	1	1.30mi
1572 Keily Run Unit 1572 Tallahassee, FL	2.0	2.0	1200	$1,250	$1.04	21d	1	1.31mi
1515 Paul Russell Rd #85 Tallahassee, FL	3.0	2.5	1482	$1,400	$0.94	21d	1	1.38mi
2001 Old Saint Augustine Rd Tallahassee, FL	1.0–2.0	1.0–2.0	875	$1,436	$1.64	13d	11	1.38mi
3000 S Adams St Tallahassee, FL	1.0–3.0	1.0–3.0	884	$1,850	$2.09	21d	8	1.40mi
2400 Barcelona Ct Tallahassee, FL	3.0	2.0	1080	$1,600	$1.48	13d	1	1.45mi

Listing history 21 events

1. 2026-06-18
   days on market $152,900 Active 767 DOM
2. 2026-06-17
   days on market $152,900 Active 766 DOM
3. 2026-06-16
   days on market $152,900 Active 765 DOM
4. 2026-06-15
   days on market $152,900 Active 764 DOM
5. 2026-06-14
   days on market $152,900 Active 762 DOM
6. 2026-06-10
   days on market $152,900 Active 759 DOM
7. 2026-06-09
   days on market $152,900 Active 758 DOM
8. 2026-06-08
   days on market $152,900 Active 757 DOM
9. 2026-06-07
   days on market $152,900 Active 756 DOM
10. 2026-06-05
    days on market $152,900 Active 753 DOM
11. 2026-06-03
    days on market $152,900 Active 752 DOM
12. 2026-06-02
    days on market $152,900 Active 751 DOM
13. 2026-06-01
    days on market $152,900 Active 750 DOM
14. 2026-05-31
    days on market $152,900 Active 749 DOM
15. 2026-05-30
    days on market $152,900 Active 748 DOM
16. 2025-09-11
    status Active
17. 2025-09-06
    historical
18. 2024-05-07
    listed $152,900 Active
19. 2016-12-06
    soldstatus $40,500 334-char remark

    Show marketing remark (334 chars)

    Solid interior townhome unit. Look at this price for a 3 bedroom, 3 full bath townhome. Inside utility room. Small foyer leads into larger galley kitchen with bar and living room. Has view of Rickards High School Track and Field. Clean and neat but will need some updating and renovations. Good for all buyers. Being being sold as is.

20. 2016-10-28
    listed $46,800 334-char remark

    Show marketing remark (334 chars)

    Solid interior townhome unit. Look at this price for a 3 bedroom, 3 full bath townhome. Inside utility room. Small foyer leads into larger galley kitchen with bar and living room. Has view of Rickards High School Track and Field. Clean and neat but will need some updating and renovations. Good for all buyers. Being being sold as is.

21. 2005-03-04
    soldstatus $101,000

ⓘ 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: $1,577 · $131/mo
• Projected year-2 tax: $1,577 · $131/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 4/10 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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,476
• − Mortgage interest: −$8,565
• − Property taxes: −$1,577
• − Insurance: −$764
• − Repairs & maintenance: −$1,478
• − Management: −$1,478
• − Depreciation: −$4,448
• Taxable income: $165
• Est. tax owed @ 24.0%: −$40
• After-tax cash flow: $2,593/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

+51.4% since first listed

6 events — show timeline

• 2025-09-11 Relisted — CATRS
• 2025-09-06 Listing Removed — CATRS
• 2024-05-07 Listed $152,900 CATRS
• 2016-12-06 Sold (MLS) $40,500 CATRS
• 2016-10-28 Listed $46,800 CATRS
• 2005-03-04 Sold (Public Records) $101,000 Public Records

Property tax history

+9.2%/yr

Latest (2025): $1,577 · +8.9% YoY. Source: county tax records.