2036 Hillsborough St · Tallahassee, FL 32310

$150,000

3 bd · 1.0 ba · 925 sqft · SingleFamily public records · 31 Days on market

Built 1956 8,276 sqft lot Est $153k · at est.

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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 +19.5/30.0
• ARV discount +8.3/15.0
• DSCR +6.2/10.0
• Appreciation +4.7/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• 1% rule +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Discover a cozy haven in this small cottage featuring new paint, modern LVP flooring, and new appliances. Close to all universities. Embrace the balance of comfort and convenience in this charming space, making it an ideal first time home buyer, students, or anyone seeking a vibrant lifestyle. Don't miss the chance to call this welcoming cottage your own!

Key facts

• 2024 hvac system
• Outdoor firepit area
• Vinyl privacy fence

Tags

• 2024 HVAC SYSTEM
• VINYL PRIVACY FENCE
• OUTDOOR FIREPIT AREA

Property features AI

Finance

• Other: Offered for sale
• HOA & community: Street lights in the community

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Single-story; Crawlspace foundation
• Construction: Block and concrete construction
• Exterior features: Privacy fencing; Private maintained road

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (10x10); Bedroom 3 (10x10)
• Flooring: Plank; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air conditioning; Ceiling fans; Electric cooling
• Interior features: Plank and vinyl flooring; Utility room; Living room; Family room; Dining room
• Laundry & utility: Utility room (10x14)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (7.5% below list).
• Recommended offer: $139k (7.5% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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: Pineview Elementary School (math 32% / reading 32%, grade F, #1,797 of 2,144 statewide, top 86%, 362 students, 83% FRL); R. Frank Nims Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 609 students, 82% FRL); James Rickards High School (math 23% / reading 37%, grade F, #441 of 667 statewide, top 67%, 1,581 students, 57% 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 28% at this address vs 50% district-wide (-22 pts) — the specific schools serving this property underperform the Leon average; the district grade overstates school quality for this exact location.
• Market conditions: 94 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).

Forward outlook

• In year one you build about $225 of equity ($1k loan paydown + $-812 appreciation (-0.5% local appreciation)).
• Leon County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-0.5% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $138,697 (7.5% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.92% ✗
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $152,625
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2034 Hillsborough St	0.01mi	3/1.0	888 (-4%)	4mo	$140,000	$158	90
2056 Warwick St	0.14mi	3/1.0	864 (-7%)	1mo	$90,000	$104	82
1410 Coleman St	0.16mi	2/1.0 (-1)	900 (-3%)	2mo	$193,750	$215	82
1222 Hutchinson St	0.15mi	3/1.0	864 (-7%)	9mo	$92,000	$106	75
1631 Mccaskill Ave	0.33mi	2/1.0 (-1)	946 (+2%)	6mo	$98,000	$104	71
1820 Keith St	0.56mi	3/1.0	975 (+5%)	1mo	$140,000	$144	64
1605 Mayhew St	0.59mi	3/1.0	912 (-1%)	8mo	$165,000	$181	64
1637 Stuckey Ave	0.39mi	3/1.0	850 (-8%)	9mo	$100,000	$118	61
1525 Mayhew St	0.61mi	3/1.0	912 (-1%)	11mo	$150,500	$165	60
1406 Glenda Dr	0.62mi	3/1.0	903 (-2%)	14mo	$169,900	$188	56
1658 Sharkey St	0.72mi	3/1.0	974 (+5%)	10mo	$187,000	$192	49
2014 Keith	0.52mi	2/1.0 (-1)	800 (-14%)	6mo	$137,500	$172	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.4%
• Equity multiple: 1.06×
• Total profit: $2,607
• Equity at exit: $39,540

10-year hold

• IRR: 7.4%
• Equity multiple: 1.75×
• Total profit: $31,525
• Equity at exit: $44,433

Cash invested: $42,000 (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 32310

• Home prices YoY: -0.2%
• Active inventory: 94
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,387 high
• Mortgage (P&I): −$787
• Tax from tax record: −$77 /mo · $921/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $170

Break-even live

Break-even rent $1,172

Max offer price $150,000

Occupancy floor 83%

Sensitivity live

Price	-10% $255	-5% $212	+0% $170	+5% $127	+10% $85
Rent	-10% $60	-5% $115	+0% $170	+5% $225	+10% $279
Rate	-1.0pp $245	-0.5pp $208	base $170	+0.5pp $131	+1.0pp $91

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1616 McCaskill Ave Tallahassee, FL	1.0–2.0	1.0	750	$969	$1.29	23d	43	0.31mi
1426 Pepper Dr Tallahassee, FL	2.0	1.0	858	$1,250	$1.46	23d	1	0.53mi
2332 Keith St Tallahassee, FL	2.0	1.0	650	$1,050	$1.62	23d	1	0.63mi
1643 Sharkey St Tallahassee, FL	3.0	1.0	912	$1,350	$1.48	23d	1	0.67mi
643 Kissimmee St Tallahassee, FL	2.0	1.0	800	$1,595	$1.99	23d	1	0.74mi
1606 Airport Dr Tallahassee, FL	3.0	2.0	1008	$1,395	$1.38	23d	1	0.75mi
1303 Airport Dr Unit A08 Tallahassee, FL	2.0	2.5	1083	$1,475	$1.36	23d	1	0.76mi
635 Palm Beach St Apt 125 Tallahassee, FL	2.0	2.0	900	$900	$1.00	23d	1	0.79mi
930 S Lipona Rd Unit D Tallahassee, FL	2.0	2.0	896	$1,295	$1.45	23d	1	0.86mi
3178 N Ridge Rd Apt A Tallahassee, FL	2.0	2.0	995	$1,350	$1.36	16d	1	1.00mi
833 W Gaines St Tallahassee, FL	2.0	2.0	1080	$2,350	$2.18	16d	2	1.04mi
509 Famcee Ave Tallahassee, FL	3.0	2.0	1079	$1,700	$1.58	23d	1	1.06mi
2125 Jackson Bluff Rd Tallahassee, FL	1.0–3.0	1.0–2.0	975	$1,399	$1.43	23d	4	1.18mi
301 S Lipona Rd #24 Tallahassee, FL	2.0	1.5	896	$1,350	$1.51	23d	1	1.18mi
1854 Belle Vue Way Tallahassee, FL	2.0–4.0	1.0–2.0	1100	$1,768	$1.61	23d	1	1.19mi
2131 Jackson Bluff Rd Tallahassee, FL	2.0	2.0	1043	$1,257	$1.21	16d	3	1.22mi
220 Atkinson Dr Unit D Tallahassee, FL	2.0	1.0	928	$1,100	$1.19	23d	1	1.23mi
1737 S M L King Jr Blvd Tallahassee, FL	3.0	1.0	701	$1,450	$2.07	23d	1	1.29mi
316 Ausley Rd Tallahassee, FL	1.0–4.0	1.0–2.0	750	$1,197	$1.60	16d	8	1.34mi
1533 S Bronough St Tallahassee, FL	2.0	1.0	750	$1,150	$1.53	16d	1	1.36mi
318 W Harrison St Unit 324 Tallahassee, FL	2.0	1.0	525	$1,000	$1.90	23d	1	1.39mi
1402 Melvin St #1 Tallahassee, FL	2.0	1.0	550	$1,100	$2.00	23d	1	1.43mi
1504 S Adams St #1 Tallahassee, FL	2.0	2.0	1088	$1,300	$1.19	16d	1	1.48mi

Listing history 24 events

1. 2026-06-22
   days on market $150,000 Active 31 DOM
2. 2026-06-18
   days on market $150,000 Active 28 DOM
3. 2026-06-17
   days on market $150,000 Active 27 DOM
4. 2026-06-16
   days on market $150,000 Active 26 DOM
5. 2026-06-15
   days on market $150,000 Active 25 DOM
6. 2026-06-14
   days on market $150,000 Active 23 DOM
7. 2026-06-10
   days on market $150,000 Active 20 DOM
8. 2026-06-09
   days on market $150,000 Active 19 DOM
9. 2026-06-08
   days on market $150,000 Active 18 DOM
10. 2026-06-07
    days on market $150,000 Active 17 DOM
11. 2026-06-05
    days on market $150,000 Active 14 DOM
12. 2026-06-03
    days on market $150,000 Active 13 DOM
13. 2026-06-02
    days on market $150,000 Active 12 DOM
14. 2026-06-01
    days on market $150,000 Active 11 DOM
15. 2026-05-31
    days on market $150,000 Active 10 DOM
16. 2026-05-30
    days on market $150,000 Active 9 DOM
17. 2026-05-21
    listed $150,000 Active
18. 2024-01-19
    soldstatus $135,000 Closed 357-char remark

    Show marketing remark (357 chars)

    Discover a cozy haven in this small cottage featuring new paint, modern LVP flooring, and new appliances. Close to all universities. Embrace the balance of comfort and convenience in this charming space, making it an ideal first time home buyer, students, or anyone seeking a vibrant lifestyle. Don't miss the chance to call this welcoming cottage your own!

19. 2024-01-19
    soldstatus $135,000

    Show marketing remark (357 chars)

    Discover a cozy haven in this small cottage featuring new paint, modern LVP flooring, and new appliances. Close to all universities. Embrace the balance of comfort and convenience in this charming space, making it an ideal first time home buyer, students, or anyone seeking a vibrant lifestyle. Don't miss the chance to call this welcoming cottage your own!

20. 2023-12-19
    historical Active Under Contract 357-char remark

    Show marketing remark (357 chars)

    Discover a cozy haven in this small cottage featuring new paint, modern LVP flooring, and new appliances. Close to all universities. Embrace the balance of comfort and convenience in this charming space, making it an ideal first time home buyer, students, or anyone seeking a vibrant lifestyle. Don't miss the chance to call this welcoming cottage your own!

21. 2023-12-14
    listed $135,000 Active 357-char remark

    Show marketing remark (357 chars)

    Discover a cozy haven in this small cottage featuring new paint, modern LVP flooring, and new appliances. Close to all universities. Embrace the balance of comfort and convenience in this charming space, making it an ideal first time home buyer, students, or anyone seeking a vibrant lifestyle. Don't miss the chance to call this welcoming cottage your own!

22. 2023-06-15
    soldstatus $50,000 Closed 467-char remark

    Show marketing remark (467 chars)

    Located inside Capital Circle and near universities and the airport, this 3 bedroom home uses the space with wonderful functional spaces. The livingroom feels open and airy with many windows and loads of natural light. The back yard is VERY spacious and partially fenced. Easy communte with both parking on property and parking on the street. This would be a fabulous investment property for an owner building generational wealth or an investor adding to a portfolio.

23. 2023-04-09
    historical Active Under Contract 467-char remark

    Show marketing remark (467 chars)

    Located inside Capital Circle and near universities and the airport, this 3 bedroom home uses the space with wonderful functional spaces. The livingroom feels open and airy with many windows and loads of natural light. The back yard is VERY spacious and partially fenced. Easy communte with both parking on property and parking on the street. This would be a fabulous investment property for an owner building generational wealth or an investor adding to a portfolio.

24. 2023-04-06
    listed $80,000 Active 467-char remark

    Show marketing remark (467 chars)

    Located inside Capital Circle and near universities and the airport, this 3 bedroom home uses the space with wonderful functional spaces. The livingroom feels open and airy with many windows and loads of natural light. The back yard is VERY spacious and partially fenced. Easy communte with both parking on property and parking on the street. This would be a fabulous investment property for an owner building generational wealth or an investor adding to a portfolio.

ⓘ 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: $921 · $77/mo
• Projected year-2 tax: $1,245 · $104/mo
• Expected delta: +$324/yr (+$27/mo · 35.2%)

ⓘ 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 2/10 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,644
• − Mortgage interest: −$8,402
• − Property taxes: −$921
• − Insurance: −$750
• − Repairs & maintenance: −$1,331
• − Management: −$1,331
• − Depreciation: −$4,364
• Taxable loss: −$456
• Est. tax savings @ 24.0%: +$110
• After-tax cash flow: $2,148/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): 14,888
• Household income: $38,288
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1272.0

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 50% White 36% Hispanic / Latino 9% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1% German/W. Germanic 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: ▼ -0.54%
• Current HPI: 270.5721
• Rent YoY: —
• 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

+87.5% since first listed

8 events — show timeline

• 2026-05-21 Listed $150,000 CATRS
• 2024-01-19 Sold (Public Records) $135,000 Public Records
• 2024-01-19 Sold (MLS) $135,000 CATRS
• 2023-12-19 Contingent — CATRS
• 2023-12-14 Listed $135,000 CATRS
• 2023-06-15 Sold (MLS) $50,000 CATRS
• 2023-04-09 Contingent — CATRS
• 2023-04-06 Listed $80,000 CATRS

Property tax history

+1.8%/yr

Latest (2025): $921 · -37.9% YoY. Source: county tax records.