2765 Westbrook Ct · Tallahassee, FL 32303

$184,000

3 bd · 3.0 ba · 1,316 sqft · Townhouse public records · 3 Days on market

Built 2003 1,742 sqft lot Est $176k · at est. $58/mo HOA · 4% 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 +11.9/30.0
• ARV discount +5.5/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• 1% rule +3.8/10.0
• DSCR +3.5/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enter for comp purposes only

Key facts

• New rear deck
• New carpet
• Hvac four years old

Tags

• DUPLEX STYLE TOWNHOME
• NEW INTERIOR PAINT
• NEW CARPET
• NEW REAR DECK
• PRIVACY DIVIDER
• HVAC FOUR YEARS OLD

Property features AI

Finance

• HOA & community: Monthly association fee of $693 covering common areas; Street lights in community

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Brick and vinyl siding exterior; Slab foundation
• Construction: Brick; Vinyl siding; Slab foundation
• Exterior features: Deck; Paved road

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Refrigerator
• Bedrooms: Bedroom 2 (13x12); Bedroom 3 (12x11)
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric, heat pump); Central air; Ceiling fans
• Interior features: End unit; High ceilings; Primary bedroom on main level
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $184k.

Deal economics

• At list price, monthly cash flow is $-46 ($-553/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (11.5% below list).
• Recommended offer: $163k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• Zoned schools: Astoria Park Elementary School (math 23% / reading 28%, grade F, #2,025 of 2,144 statewide, top 95%, 527 students, 80% FRL); Griffin Middle School (math 16% / reading 25%, grade F, #556 of 571 statewide, top 98%, 532 students, 77% FRL); Amos P. Godby High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,444 students, 63% FRL) — zoned schools average 74% FRL vs 45% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 25% at this address vs 50% district-wide (-26 pts) — the specific schools serving this property underperform the Leon average; the district grade overstates school quality for this exact location.
• 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 23d 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 31% of the median local income ($62k/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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 19y 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 $140k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $162,785 (11.5% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.88% ✗
• Cap rate: 5.99%
• Cash-on-cash: -1.07%
• DSCR: 0.95
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $176,344
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2738 W Tharpe St #405	0.10mi	3/3.0	1,209 (-8%)	1mo	$137,000	$113	81
2738 W Tharpe St #304	0.10mi	3/3.0	1,209 (-8%)	2mo	$145,000	$120	80
2740 W Tharpe St #203	0.14mi	3/3.0	1,212 (-8%)	3mo	$155,000	$128	78
2738 Tharpe #2106 St #2106	0.10mi	2/2.0 (-1)	1,209 (-8%)	1mo	$138,000	$114	72
3380 Fort Collins Ln	0.52mi	3/3.0	1,240 (-6%)	2mo	$174,000	$140	64
1938 Ann Arbor Ave	0.60mi	3/3.0	1,240 (-6%)	1mo	$180,000	$145	61
1970 Greencastle Ln #704	0.65mi	3/3.0	1,232 (-6%)	1mo	$224,900	$183	58
2525 Hartsfield Road Unit 20 #20	0.65mi	3/3.0	1,238 (-6%)	2mo	$147,500	$119	58
1913 Bloomington Ave	0.65mi	3/3.0	1,177 (-11%)	2mo	$185,000	$157	51
1924 Corvallis Ave	0.67mi	3/3.0	1,177 (-11%)	1mo	$158,000	$134	50
1924 Honolulu Ln	0.71mi	3/3.0	1,177 (-11%)	1mo	$138,000	$117	48
1813 Gina Dr	0.75mi	3/2.0	1,222 (-7%)	2mo	$199,000	$163	48

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 · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -17.9%
• Equity multiple: 0.37×
• Total profit: $-32,493
• Equity at exit: $27,435

10-year hold

• IRR: -9.7%
• Equity multiple: 0.40×
• Total profit: $-31,014
• Equity at exit: $15,909

Cash invested: $51,520 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,628 high
• Mortgage (P&I): −$965
• Tax from tax record: −$233 /mo · $2,790/yr
• Insurance: −$77
• HOA: −$58
• Vacancy / Maint / Mgmt: −$342
• Net cashflow: $-46

Break-even live

Break-even rent $1,686

Max offer price $175,857

Occupancy floor 98%

Sensitivity live

Price	-10% $58	-5% $6	+0% $-46	+5% $-98	+10% $-150
Rent	-10% $-175	-5% $-110	+0% $-46	+5% $18	+10% $83
Rate	-1.0pp $47	-0.5pp $1	base $-46	+0.5pp $-94	+1.0pp $-142

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: $46,000
• Closing costs: $5,520
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2772 Westbrook Ct Tallahassee, FL	3.0	3.0	1325	$1,600	$1.21	15d	1	0.03mi
2749 Pecan Rd Tallahassee, FL	1.0–2.0	1.0–2.0	900	$1,300	$1.44	15d	1	0.04mi
2765 W Tharpe St Tallahassee, FL	1.0–2.0	1.0	739	$1,000	$1.35	15d	1	0.22mi
2222 Del Carmel Way Tallahassee, FL	3.0	3.0	1280	$1,650	$1.29	15d	1	0.29mi
2222 Del Carmel Way Unit 2226 Tallahassee, FL	3.0	3.0	1280	$1,650	$1.29	23d	1	0.29mi
2281 Del Carmel Way Tallahassee, FL	3.0	3.0	1280	$1,599	$1.25	23d	1	0.34mi
2227 Willie Vause Rd Unit B Tallahassee, FL	3.0	2.0	1650	$2,300	$1.39	23d	1	0.36mi
2295 Del Carmel Way Tallahassee, FL	4.0	3.0	1802	$1,750	$0.97	15d	1	0.37mi
2295 Del Carmel Way Tallahassee, FL	4.0	3.0	1802	$1,750	$0.97	23d	1	0.37mi
2022 Trimble Rd Apt 1 Tallahassee, FL	4.0	3.5	1841	$775	$0.42	15d	1	0.41mi
2022 Trimble Rd Apt 1 Tallahassee, FL	4.0	3.5	1841	$2,250	$1.22	23d	1	0.41mi
2022 Trimble Rd Apt 3 Tallahassee, FL	3.0	3.0	1192	$700	$0.59	23d	1	0.41mi
1955 Bloomington Ave Tallahassee, FL	3.0	3.0	1177	$1,475	$1.25	23d	1	0.60mi
1925 Durham Ave Tallahassee, FL	3.0	3.0	1177	$1,800	$1.53	23d	1	0.69mi
1870 Honolulu Ln Tallahassee, FL	3.0	3.0	1230	$1,450	$1.18	23d	1	0.69mi
2400 W Tharpe St Tallahassee, FL	4.0–5.0	4.0	1800	$1,800	$1.00	23d	1	0.82mi
2327 Parrot Ln Tallahassee, FL	3.0	2.0	1088	$1,300	$1.19	23d	1	0.89mi
2616 Mission Rd Tallahassee, FL	1.0–2.0	1.0	750	$1,195	$1.59	15d	12	0.91mi
2259 Parrot Ln Tallahassee, FL	2.0	2.0	992	$1,275	$1.29	23d	1	0.93mi
2403 Hartsfield Rd #602 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	15d	1	0.98mi
2403 Hartsfield Rd #602 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	23d	1	0.98mi
2406 Hartsfield Rd Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	23d	1	0.98mi
2614 W Tennessee St Tallahassee, FL	1.0–4.0	1.0–4.0	1270	$1,556	$1.22	23d	14	1.04mi
770 Appleyard Dr Tallahassee, FL	2.0	2.5	1150	$1,442	$1.25	15d	14	1.09mi
2626 Faversham Dr Tallahassee, FL	3.0	2.0	1440	$1,850	$1.28	15d	1	1.17mi
2350 Wanda Way Tallahassee, FL	2.0–3.0	1.0	861	$1,400	$1.63	23d	1	1.17mi
1560 San Luis Rd Tallahassee, FL	3.0	3.5	1500	$774	$0.52	23d	22	1.19mi
2419 Nugget Ln Tallahassee, FL	3.0	2.0	1212	$1,550	$1.28	15d	1	1.23mi
2052 Darnell Cir Unit B Tallahassee, FL	4.0	3.0	1300	$1,700	$1.31	23d	1	1.25mi
2498 Nugget Ln Tallahassee, FL	3.0	2.0	1200	$1,550	$1.29	23d	1	1.25mi
2412 Atlas Rd Tallahassee, FL	3.0	1.5	1081	$1,200	$1.11	23d	1	1.27mi
3875 Gaffney Loop Tallahassee, FL	2.0	2.0	984	$1,300	$1.32	23d	1	1.27mi
2401 Atlas Rd Unit B Tallahassee, FL	2.0	1.0	900	$1,100	$1.22	23d	1	1.28mi
850 Capital Walk Dr Tallahassee, FL	1.0–3.0	1.0–2.0	1152	$1,599	$1.39	15d	21	1.35mi
1553 Crescent Hill Dr Tallahassee, FL	3.0	2.5	1530	$1,800	$1.18	15d	1	1.36mi
2353 W Mission Rd Tallahassee, FL	2.0–3.0	2.0–2.5	1012	$1,450	$1.43	15d	11	1.38mi
3348 Sugar Berry Way #1 Tallahassee, FL	3.0	3.0	1338	$1,500	$1.12	23d	1	1.41mi

HOA detail

• Monthly dues: $58 · $696/yr

Listing history 3 events

1. 2026-06-22
   days on market $184,000 Active 3 DOM
2. 2026-06-18
   remarks 563-char remark
3. 2026-06-18
   listed $184,000 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: $2,790 · $233/mo
• Projected year-2 tax: $2,790 · $233/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 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,534
• − Mortgage interest: −$10,307
• − Property taxes: −$2,790
• − Insurance: −$920
• − Repairs & maintenance: −$1,563
• − Management: −$1,563
• − HOA: −$696
• − Depreciation: −$5,353
• Taxable loss: −$3,657
• Est. tax savings @ 24.0%: +$878
• After-tax cash flow: $325/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

+60.1% since first listed

9 events — show timeline

• 2026-06-15 Listed $184,000 CATRS
• 2026-04-30 Rental Removed $1,475 APPFOLIO
• 2026-04-16 Price Changed $1,475 APPFOLIO
• 2026-04-09 Price Changed $1,500 APPFOLIO
• 2026-04-06 Listed for Rent $1,650 APPFOLIO
• 2007-12-26 Sold (Public Records) $140,000 Public Records
• 2007-12-10 Sold (MLS) $140,000 CATRS
• 2007-11-01 Listed $149,900 CATRS
• 2003-12-18 Sold (Public Records) $114,900 Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,790 · +9.1% YoY. Source: county tax records.