722 Dover St · Tallahassee, FL 32304

$115,000

3 bd · 1.0 ba · 972 sqft · SingleFamily public records · 62 Days on market

Built 1928 Fair condition 6,534 sqft lot Est $149k · 23% under

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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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.7/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Cute 3/1 with split plan, nice sized bedrooms, inside utility room with washer/dryer hook ups, and much more. There is a covered front porch and large mostly fenced yard. Convenient location to downtown, FSU, FAMU, TCC, state offices, restaurants, and shopping! Could rent for $775 in its current shape or up to $850 with a few upgrades. Could also be a great first home! Selling as-is. All dimensions are approximate.

Key facts

• Remodeled bathroom
• New roof
• New hvac system

Tags

• NEW ROOF
• NEW HVAC SYSTEM
• REMODELED BATHROOM
• INTERIOR UTILITY ROOM
• MINUTES FROM DOWNTOWN

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Single-story; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Covered porch; Paved road access

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (10x10); Bedroom 3 (10x10)
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fans; Electric cooling
• Interior features: Pantry
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: Rents rising fast (+4.7%/yr); 142 active listings in the ZIP; 32 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).
• At $1,493/mo this rent would consume 55% of the median local household income ($32k/yr) (locally 6995% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $58k; list at $115k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• 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 $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.30% ✓
• Cap rate: 10.52%
• Cash-on-cash: 15.09%
• DSCR: 1.67
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $148,716
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
808 Goodbread Ln	0.34mi	3/2.0	994 (+2%)	6mo	$117,000	$118	72
1310 N Bronough St	0.71mi	3/1.0	988 (+2%)	2mo	$220,000	$223	63
532 W 4th Ave	0.37mi	2/1.0 (-1)	920 (-5%)	8mo	$55,000	$60	62
1053 Delaware St	0.39mi	3/2.0	1,036 (+7%)	6mo	$159,000	$153	62
651 W 8th Ave	0.50mi	3/1.0	1,054 (+8%)	6mo	$264,000	$250	58
643 W 8th Ave	0.51mi	3/1.0	1,083 (+11%)	7mo	$75,000	$69	51
1530 Yancey St	0.60mi	3/2.0	1,022 (+5%)	10mo	$118,000	$115	51
1338 Branch St	0.52mi	2/1.0 (-1)	872 (-10%)	5mo	$193,200	$222	50
439 Shephard St	0.52mi	3/1.0	1,116 (+15%)	3mo	$225,000	$202	49
1517 Branch St	0.66mi	2/1.0 (-1)	918 (-6%)	9mo	$197,500	$215	47
1107 N M L King Jr Blvd	0.59mi	2/2.0 (-1)	1,074 (+10%)	4mo	$120,000	$112	43
1010 Calloway St	0.67mi	3/1.0	1,112 (+14%)	8mo	$98,000	$88	38

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 · 4.69% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.30×
• Total profit: $9,744
• Equity at exit: $17,147

10-year hold

• IRR: 18.3%
• Equity multiple: 2.64×
• Total profit: $52,697
• Equity at exit: $9,943

Cash invested: $32,200 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,493 high
• Mortgage (P&I): −$603
• Tax from tax record: −$124 /mo · $1,484/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $405

Break-even live

Break-even rent $981

Max offer price $115,000

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
916 N Woodward Ave #1 Tallahassee, FL	2.0	1.0	794	$1,000	$1.26	13d	1	0.20mi
412 W Brevard St Unit 412 Tallahassee, FL	3.0	2.0	900	$800	$0.89	21d	1	0.57mi
718 N Bronough St Tallahassee, FL	2.0	1.0	798	$1,100	$1.38	21d	1	0.64mi
1410 Nylic St Unit B Tallahassee, FL	2.0	1.0	550	$900	$1.64	13d	1	0.65mi
322 Conradi St Tallahassee, FL	3.0	2.0	1100	$1,950	$1.77	21d	4	0.89mi
440 N Monroe St Tallahassee, FL	3.0	1.0–3.0	1311	$3,850	$2.94	13d	15	0.91mi
1325 W Tharpe St Tallahassee, FL	1.0–3.0	1.0–4.0	937	$1,676	$1.79	13d	21	0.97mi
1916 Nannette Dr Unit 1916 Tallahassee, FL	2.0	1.0	1000	$1,100	$1.10	13d	1	0.98mi
1935 Dawsey St Unit 1935-2 Tallahassee, FL	2.0	1.0	875	$975	$1.11	13d	1	1.02mi
215 W College Ave Unit 706B Tallahassee, FL	2.0	1.0	823	$2,600	$3.16	21d	1	1.02mi
1108 Greentree Ct Tallahassee, FL	2.0	2.0	888	$1,275	$1.44	21d	1	1.06mi
415 N Gadsden St Tallahassee, FL	1.0–2.0	1.0–1.5	990	$1,575	$1.59	21d	6	1.09mi
1111 High Rd Tallahassee, FL	2.0–3.0	2.0	1000	$1,594	$1.59	13d	11	1.11mi
833 W Gaines St Tallahassee, FL	2.0	2.0	1080	$2,350	$2.18	13d	2	1.16mi
2020 Continental Ave Tallahassee, FL	1.0–2.0	1.0–1.5	850	$1,300	$1.53	21d	3	1.19mi
1001 Ocala Rd Tallahassee, FL	4.0	1.0–2.0	899	$642	$0.71	21d	6	1.21mi
424 E 7th Ave Unit 15 Tallahassee, FL	2.0	1.0	859	$1,550	$1.80	13d	1	1.22mi
420 E Park Ave Unit 50 Tallahassee, FL	2.0	1.0	770	$1,050	$1.36	13d	1	1.23mi
1332 Cherry St Tallahassee, FL	2.0	1.0	859	$1,550	$1.80	21d	1	1.24mi
1330 Cherry St Tallahassee, FL	2.0	1.0	859	$1,600	$1.86	13d	5	1.24mi
1338 Cherry St Unit 5 Tallahassee, FL	2.0	1.0	859	$1,550	$1.80	13d	1	1.25mi
1340 Cherry St Unit 6 Tallahassee, FL	2.0	1.0	859	$1,649	$1.92	21d	1	1.25mi
717 Edgewood St Tallahassee, FL	2.0	1.0	717	$1,325	$1.85	21d	1	1.26mi
220 Atkinson Dr Unit D Tallahassee, FL	2.0	1.0	928	$1,100	$1.19	21d	1	1.32mi
2060 Continental Ave Tallahassee, FL	1.0–3.0	1.0–2.5	1121	$1,185	$1.06	13d	26	1.34mi
1101 Washington Ct #1 Tallahassee, FL	2.0	1.0	950	$1,050	$1.11	13d	1	1.37mi
1303 Ocala Rd Tallahassee, FL	1.0–4.0	1.0–2.0	1121	$1,445	$1.29	13d	48	1.40mi
406 Glenview Dr Unit 11 Tallahassee, FL	2.0	1.0	896	$1,100	$1.23	13d	1	1.44mi
1303 Airport Dr Unit A08 Tallahassee, FL	2.0	2.5	1083	$1,475	$1.36	21d	1	1.44mi
1854 Belle Vue Way Tallahassee, FL	2.0–4.0	1.0–2.0	1100	$1,768	$1.61	21d	1	1.45mi
1360 Ocala Rd Tallahassee, FL	2.0	1.0	800	$1,000	$1.25	21d	1	1.48mi
1643 Fernando Dr #2 Tallahassee, FL	2.0	2.0	1000	$1,650	$1.65	21d	1	1.48mi

Listing history 21 events

1. 2026-06-18
   statusdays on market $115,000 Active 62 DOM
2. 2026-06-17
   days on market $115,000 Active Under Contract 61 DOM
3. 2026-06-16
   days on market $115,000 Active Under Contract 60 DOM
4. 2026-06-15
   days on market $115,000 Active Under Contract 59 DOM
5. 2026-06-14
   days on market $115,000 Active Under Contract 57 DOM
6. 2026-06-10
   days on market $115,000 Active Under Contract 54 DOM
7. 2026-06-09
   days on market $115,000 Active Under Contract 53 DOM
8. 2026-06-08
   days on market $115,000 Active Under Contract 52 DOM
9. 2026-06-07
   days on market $115,000 Active Under Contract 51 DOM
10. 2026-06-05
    days on market $115,000 Active Under Contract 48 DOM
11. 2026-06-03
    days on market $115,000 Active Under Contract 47 DOM
12. 2026-06-02
    days on market $115,000 Active Under Contract 46 DOM
13. 2026-06-01
    days on market $115,000 Active Under Contract 45 DOM
14. 2026-05-31
    days on market $115,000 Active Under Contract 44 DOM
15. 2026-05-30
    days on market $115,000 Active Under Contract 43 DOM
16. 2026-05-14
    historical Active Under Contract
17. 2026-05-03
    price $115,000
18. 2026-04-17
    listed $125,000 Active
19. 2021-04-12
    soldstatus $57,800 Closed 418-char remark

    Show marketing remark (418 chars)

    Cute 3/1 with split plan, nice sized bedrooms, inside utility room with washer/dryer hook ups, and much more. There is a covered front porch and large mostly fenced yard. Convenient location to downtown, FSU, FAMU, TCC, state offices, restaurants, and shopping! Could rent for $775 in its current shape or up to $850 with a few upgrades. Could also be a great first home! Selling as-is. All dimensions are approximate.

20. 2021-04-01
    listed Active Under Contract 418-char remark

    Show marketing remark (418 chars)

    Cute 3/1 with split plan, nice sized bedrooms, inside utility room with washer/dryer hook ups, and much more. There is a covered front porch and large mostly fenced yard. Convenient location to downtown, FSU, FAMU, TCC, state offices, restaurants, and shopping! Could rent for $775 in its current shape or up to $850 with a few upgrades. Could also be a great first home! Selling as-is. All dimensions are approximate.

21. 2021-02-10
    listed $61,900 418-char remark

    Show marketing remark (418 chars)

    Cute 3/1 with split plan, nice sized bedrooms, inside utility room with washer/dryer hook ups, and much more. There is a covered front porch and large mostly fenced yard. Convenient location to downtown, FSU, FAMU, TCC, state offices, restaurants, and shopping! Could rent for $775 in its current shape or up to $850 with a few upgrades. Could also be a great first home! Selling as-is. All dimensions are approximate.

ⓘ 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: $1,484 · $124/mo
• Projected year-2 tax: $1,484 · $124/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 1/10 Low
• 🌡 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: $17,917
• − Mortgage interest: −$6,442
• − Property taxes: −$1,484
• − Insurance: −$575
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$3,345
• Taxable income: $3,204
• Est. tax owed @ 24.0%: −$769
• After-tax cash flow: $4,090/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This home requires moderate repairs to its exterior and front yard, but has a good roof and interior systems. Painting and updating the front porch can significantly increase its value.

Repairs flagged

• Major Exterior siding — Significant wear and tear
• Major Exterior wood — Exposed and deteriorating
• Major Debris removal — Large debris pile in front yard

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Rental Replace front porch railings — Improves safety and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Significant wear and tear	Major	$15,000–50,000
Exterior wood · Exposed and deteriorating	Major	$15,000–50,000
Debris removal · Large debris pile in front yard	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Rental Replace front porch railings — Improves safety and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 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

+85.8% since first listed

6 events — show timeline

• 2026-05-14 Contingent — CATRS
• 2026-05-03 Price Changed $115,000 CATRS
• 2026-04-17 Listed $125,000 CATRS
• 2021-04-12 Sold (MLS) $57,800 CATRS
• 2021-04-01 Listed — CATRS
• 2021-02-10 Listed $61,900 CATRS

Property tax history

+11.8%/yr

Latest (2025): $1,484 · +10.0% YoY. Source: county tax records.