1923 Sika Deer Dr · Tallahassee, FL 32304

$62,900

2 bd · 1.0 ba · 624 sqft · Land · 98 Days on market

Built 1979 6,098 sqft lot $210/mo HOA · 18% of rent

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1923 Sika Deer Drive, located in the desirable Deertree Hills community in Tallahassee. This 2-bedroom, 1-bath mobile home, built in 2003, offers a practical layout and a convenient location close to some of the area’s major colleges and amenities. The home features a comfortable living space with a functional floor plan, making it a great option for first-time buyers, investors, or student housing. The manageable lot provides low-maintenance outdoor space, perfect for those looking for easy upkeep. This property is minutes from Tallahassee State College, Florida State University, and Florida A & M University, with quick access to shopping, dining, and major roadways th

Key facts

• Maintained by an hoa
• 6,098 sq ft lot
• Built 1979

Tags

• DEERTREE HILLS COMMUNITY
• LOW-MAINTENANCE OUTDOOR SPACE
• QUICK ACCESS TO SHOPPING
• MAINTAINED BY AN HOA

Property features AI

Finance

• Financial info: Property is for sale
• HOA & community: Association fee of $2,520 (includes common areas, road maintenance, trash, water)

Exterior

• Parking: Parking space(s)
• Utilities: Public sewer
• Home design: Single-wide mobile home; Single-story
• Exterior features: Partial fencing; Paved public road access

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Bedroom (8x8); Additional bedroom (9x10)
• Flooring: Plank; Vinyl
• Bathrooms: 1 full bathroom
• Interior features: Has fireplace; Plank and vinyl flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath land listed at $63k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Recommended offer: $57k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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; 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 ($32k/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 $435 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $28k; list at $63k implies a 129% 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 $57,239 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.90% ✓
• Cap rate: 12.45%
• Cash-on-cash: 21.98%
• DSCR: 1.98
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.69% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 1.71×
• Total profit: $12,554
• Equity at exit: $9,379

10-year hold

• IRR: 27.2%
• Equity multiple: 3.65×
• Total profit: $46,698
• Equity at exit: $5,438

Cash invested: $17,612 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,194 medium
• Mortgage (P&I): −$330
• Tax from tax record: −$55 /mo · $654/yr
• Insurance: −$26
• HOA: −$210
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $323

Break-even live

Break-even rent $786

Max offer price $62,900

Occupancy floor 68%

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: $15,725
• Closing costs: $1,887
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $210 · $2,520/yr

Listing history 18 events

1. 2026-06-18
   days on market $62,900 Active 98 DOM
2. 2026-06-17
   days on market $62,900 Active 97 DOM
3. 2026-06-16
   days on market $62,900 Active 96 DOM
4. 2026-06-15
   days on market $62,900 Active 95 DOM
5. 2026-06-14
   days on market $62,900 Active 93 DOM
6. 2026-06-10
   days on market $62,900 Active 90 DOM
7. 2026-06-09
   days on market $62,900 Active 89 DOM
8. 2026-06-08
   days on market $62,900 Active 88 DOM
9. 2026-06-07
   days on market $62,900 Active 87 DOM
10. 2026-06-05
    days on market $62,900 Active 84 DOM
11. 2026-06-03
    days on market $62,900 Active 83 DOM
12. 2026-06-02
    days on market $62,900 Active 82 DOM
13. 2026-06-01
    days on market $62,900 Active 81 DOM
14. 2026-05-31
    days on market $62,900 Active 80 DOM
15. 2026-05-30
    days on market $62,900 Active 79 DOM
16. 2026-03-12
    listed $62,900 Active
17. 2003-05-22
    soldstatus $27,500
18. 2002-06-11
    soldstatus $29,000

ⓘ 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: $654 · $55/mo
• Projected year-2 tax: $654 · $55/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 5/10 Major 7 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,328
• − Mortgage interest: −$3,523
• − Property taxes: −$654
• − Insurance: −$314
• − Repairs & maintenance: −$1,146
• − Management: −$1,146
• − HOA: −$2,520
• − Depreciation: −$1,830
• Taxable income: $3,193
• Est. tax owed @ 24.0%: −$766
• After-tax cash flow: $3,105/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

+116.9% since first listed

3 events — show timeline

• 2026-03-12 Listed $62,900 CATRS
• 2003-05-22 Sold (Public Records) $27,500 Public Records
• 2002-06-11 Sold (Public Records) $29,000 Public Records

Property tax history

+26.1%/yr

Latest (2025): $654 · +195.4% YoY. Source: county tax records.