1427 Calloway St · Tallahassee, FL 32303

$5,000

3 bd · 2.0 ba · 1,325 sqft · SingleFamily public records · 8 Days on market

Built 2007 6,534 sqft lot

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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 +11.1/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.3/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This new construction home is complete and ready for new owners!! Perfect for first time homebuyers or students this home features, vaulted ceilings; ceramic tile in kitchen, hall and bathrooms; contemporary lighting and ceiling fan selections; as well as FULL black kitchen appliance package included. TO SEE IT IS TO LOVE IT!! Low interest rate & down payment and closing costs assistance available for qualified buyers.

Key facts

• 6,534 sq ft lot
• Garage
• Built 2007

Property features AI

Finance

• Other: Zoning: MR-1

Exterior

• Parking: Garage (1 car)
• Utilities: Other water source; Other sewer
• Home design: Single-family residence; Two levels; Residential property
• Construction: Construction materials: see remarks
• Exterior features: Front porch; Other roof

Interior

• Bedrooms: 1 total room
• Flooring: Other
• Bathrooms: 2 full bathrooms
• Heating & cooling: No heating; No cooling
• Interior features: Other flooring

🏗️ New construction. The $5,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $212,000.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $5k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $5k).
• Cap rate 5.8% 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 (+3.1%/yr); 238 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 34% 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: property tax is 63.6% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $5,000

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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 0.82% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.70%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $212,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1318 Clay St	0.25mi	3/2.0	1,355 (+2%)	2mo	$290,000	$214	83
1506 W Tharpe St	0.48mi	3/2.0	1,287 (-3%)	2mo	$213,000	$166	72
1426 Alabama St	0.15mi	3/2.0	1,167 (-12%)	3mo	$165,000	$141	71
1418 Calloway St	0.05mi	4/2.0 (+1)	1,456 (+10%)	7mo	$205,000	$141	70
1101 Colorado St	0.29mi	3/2.0	1,152 (-13%)	1mo	$170,000	$148	64
1015 Richmond St	0.37mi	3/2.0	1,186 (-10%)	7mo	$82,500	$70	59
817 Buena Vista Dr	0.61mi	4/3.0 (+1)	1,363 (+3%)	5mo	$240,395	$176	53
735 Westcott St	0.71mi	3/2.0	1,399 (+6%)	7mo	$285,500	$204	52
2107 Old Baindridge Rd	0.64mi	3/2.0	1,445 (+9%)	4mo	$231,000	$160	52
1115 N Woodward Ave	0.50mi	3/2.0	1,496 (+13%)	8mo	$235,000	$157	49
900 Mcguire Ct	0.70mi	3/2.0	1,436 (+8%)	7mo	$260,000	$181	47
733 California St	0.56mi	4/4.0 (+1)	1,392 (+5%)	8mo	$90,000	$65	46

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: -19.0%
• Equity multiple: 0.34×
• Total profit: $-39,469
• Equity at exit: $31,610

10-year hold

• IRR: -11.2%
• Equity multiple: 0.32×
• Total profit: $-40,286
• Equity at exit: $18,330

Cash invested: $59,360 (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: 0.2×

Monthly cashflow live

• Estimated rent: $1,748 high
• Mortgage (P&I): −$1,112
• Tax est. 1.5%: −$265 /mo · $3,180/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $-84

Break-even live

Break-even rent $1,855

Max offer price $199,837

Occupancy floor 100%

Sensitivity live

Price	-10% $62	-5% $-11	+0% $-84	+5% $-157	+10% $-231
Rent	-10% $-222	-5% $-153	+0% $-84	+5% $-15	+10% $54
Rate	-1.0pp $23	-0.5pp $-30	base $-84	+0.5pp $-139	+1.0pp $-195

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: $53,000
• Closing costs: $6,360
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1107 Basin St Unit A Tallahassee, FL	3.0	2.0	1215	$2,400	$1.98	21d	1	0.22mi
1325 W Tharpe St Tallahassee, FL	1.0–3.0	1.0–4.0	937	$1,676	$1.79	14d	21	0.31mi
1004 Volusia St Tallahassee, FL	4.0	2.0	1360	$1,800	$1.32	14d	1	0.33mi
1108 Greentree Ct Tallahassee, FL	2.0	2.0	888	$1,275	$1.44	21d	1	0.43mi
832 Arkansas St Tallahassee, FL	3.0	1.0	1296	$1,400	$1.08	21d	1	0.43mi
1111 High Rd Tallahassee, FL	2.0–3.0	2.0	1000	$1,594	$1.59	14d	11	0.48mi
1329 Nylic St #1 Tallahassee, FL	3.0	3.0	1275	$1,800	$1.41	21d	1	0.49mi
2020 Continental Ave Tallahassee, FL	1.0–2.0	1.0–1.5	850	$1,300	$1.53	21d	3	0.58mi
747 Gold Nugget Trl Tallahassee, FL	3.0	2.0	1555	$1,700	$1.09	21d	1	0.61mi
1525 W Tennessee St #307 Tallahassee, FL	2.0	1.0	1200	$1,600	$1.33	21d	1	0.66mi
2060 Continental Ave Tallahassee, FL	1.0–3.0	1.0–2.5	1121	$1,185	$1.06	14d	26	0.72mi
1303 Ocala Rd Tallahassee, FL	1.0–4.0	1.0–2.0	1121	$1,445	$1.29	14d	48	0.74mi
859 W Brevard St Tallahassee, FL	4.0	4.0	1500	$1,900	$1.27	14d	1	0.76mi
1001 Ocala Rd Tallahassee, FL	4.0	1.0–2.0	899	$642	$0.71	21d	6	0.78mi
1350 Ocala Rd Unit C Tallahassee, FL	4.0	3.0	1142	$1,550	$1.36	21d	1	0.79mi
847 W Georgia St Tallahassee, FL	4.0	4.0	1500	$1,900	$1.27	14d	1	0.82mi
322 Conradi St Tallahassee, FL	3.0	2.0	1100	$1,950	$1.77	21d	4	0.88mi
1916 Nannette Dr Unit 1916 Tallahassee, FL	2.0	1.0	1000	$1,100	$1.10	14d	1	1.01mi
2301 Old Bainbridge Rd Tallahassee, FL	2.0–3.0	1.0–2.0	1084	$1,600	$1.48	21d	1	1.04mi
1935 Dawsey St Unit 1935-2 Tallahassee, FL	2.0	1.0	875	$975	$1.11	14d	1	1.10mi
2309 Old Bainbridge Rd Tallahassee, FL	1.0–2.0	1.0–2.0	798	$1,420	$1.78	14d	10	1.13mi
1560 San Luis Rd Tallahassee, FL	3.0	3.5	1500	$774	$0.52	21d	22	1.18mi
1571 Stone Rd Unit 5B Tallahassee, FL	2.0	2.5	1216	$1,795	$1.48	21d	1	1.22mi
1447 Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	890	$1,545	$1.74	21d	1	1.22mi
1800 W Pensacola St Tallahassee, FL	2.0–5.0	2.0–5.0	1662	$3,337	$2.01	21d	1	1.24mi
1210 Stone Rd Tallahassee, FL	2.0	2.0	1008	$1,200	$1.19	21d	1	1.27mi
2182 Timberwood Cir S Unit 1 Tallahassee, FL	3.0	2.5	1280	$1,599	$1.25	21d	1	1.28mi
412 W Brevard St Unit 412 Tallahassee, FL	3.0	2.0	900	$800	$0.89	21d	1	1.29mi
2400 Fred Smith Rd #201 Tallahassee, FL	3.0	3.0	1353	$1,650	$1.22	21d	1	1.29mi
1612 Overstreet St Tallahassee, FL	3.0	3.0	1500	$3,300	$2.20	21d	1	1.34mi
220 Atkinson Dr Unit D Tallahassee, FL	2.0	1.0	928	$1,100	$1.19	21d	1	1.35mi
2353 W Mission Rd Tallahassee, FL	2.0–3.0	2.0–2.5	1012	$1,450	$1.43	14d	11	1.37mi
828 N Duval St Tallahassee, FL	3.0	2.5	1498	$2,600	$1.74	21d	1	1.38mi
1819 Salmon Dr Tallahassee, FL	4.0	2.0	1668	$1,700	$1.02	21d	1	1.44mi
2259 Parrot Ln Tallahassee, FL	2.0	2.0	992	$1,275	$1.29	21d	1	1.44mi
2513 Colleen Dr Tallahassee, FL	4.0	4.0	1700	$2,690	$1.58	21d	1	1.45mi
1854 Belle Vue Way Tallahassee, FL	2.0–4.0	1.0–2.0	1100	$1,768	$1.61	21d	1	1.45mi
808 Saint Augustine St Tallahassee, FL	2.0	2.5	1500	$2,095	$1.40	21d	1	1.47mi
2327 Parrot Ln Tallahassee, FL	3.0	2.0	1088	$1,300	$1.19	21d	1	1.48mi
2350 Wanda Way Tallahassee, FL	2.0–3.0	1.0	861	$1,400	$1.63	21d	1	1.48mi

Listing history 12 events

1. 2026-06-05
   days on market $5,000 Active 8 DOM
2. 2026-06-03
   days on market $5,000 Active 7 DOM
3. 2026-06-02
   days on market $5,000 Active 6 DOM
4. 2026-06-01
   days on market $5,000 Active 5 DOM
5. 2026-05-31
   days on market $5,000 Active 4 DOM
6. 2026-05-30
   days on market $5,000 Active 3 DOM
7. 2026-05-27
   listed $5,000 Active
8. 2008-02-07
   soldstatus $137,000 430-char remark

   Show marketing remark (430 chars)

   This new construction home is complete and ready for new owners!! Perfect for first time homebuyers or students this home features, vaulted ceilings; ceramic tile in kitchen, hall and bathrooms; contemporary lighting and ceiling fan selections; as well as FULL black kitchen appliance package included. TO SEE IT IS TO LOVE IT!! Low interest rate & down payment and closing costs assistance available for qualified buyers.

9. 2007-09-17
   listed $144,900 430-char remark

   Show marketing remark (430 chars)

   This new construction home is complete and ready for new owners!! Perfect for first time homebuyers or students this home features, vaulted ceilings; ceramic tile in kitchen, hall and bathrooms; contemporary lighting and ceiling fan selections; as well as FULL black kitchen appliance package included. TO SEE IT IS TO LOVE IT!! Low interest rate & down payment and closing costs assistance available for qualified buyers.

10. 2007-09-10
    historical
11. 2006-09-28
    listed $144,000
12. 2006-01-23
    soldstatus $27,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 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: $20,978
• − Mortgage interest: −$11,875
• − Property taxes: −$3,180
• − Insurance: −$1,060
• − Repairs & maintenance: −$1,678
• − Management: −$1,678
• − Depreciation: −$6,167
• Taxable loss: −$4,661
• Est. tax savings @ 24.0%: +$1,119
• After-tax cash flow: $110/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

-81.8% since first listed

6 events — show timeline

• 2026-05-27 Listed $5,000 HAOR as distributed by MLS GRID
• 2008-02-07 Sold (MLS) $137,000 CATRS
• 2007-09-17 Listed $144,900 CATRS
• 2007-09-10 Listing Removed — CATRS
• 2006-09-28 Listed $144,000 CATRS
• 2006-01-23 Sold (Public Records) $27,500 Public Records

Property tax history

+2.9%/yr

Latest (2025): $969 · +4.2% YoY. Source: county tax records.