4008 Wiggington Rd · Tallahassee, FL 32303

$199,900

3 bd · 1.0 ba · 988 sqft · SingleFamily public records · 14 Days on market

Built 1972 6,534 sqft lot Est $189k · 6% over

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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 +12.6/30.0
• ARV discount +4.8/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• DSCR +3.8/10.0
• 1% rule +3.4/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This affordably priced 3 Bedroom home is conveniently located off Crowder Rd in the Lake Jackson area. Recent updates include brand new vinyl plank flooring, a 2026 roof, newer HVAC system, fresh interior paint and stainless steel appliances. Additional features include a one-car garage and fenced backyard, providing convenience and privacy. Situated near Lake Jackson with a short drive to I-10, this home offers excellent opportunity for homeowners and investors. All measurements are approximate - Buyer Responsible for verifying, if important.

Key facts

• Fresh interior paint
• Vinyl plank flooring
• Newer hvac

Tags

• VINYL PLANK FLOORING
• NEWER HVAC
• STAINLESS STEEL APPLIANCES
• FRESH INTERIOR PAINT

Property features AI

Finance

• Financial info: For sale

Exterior

• Parking: One-car detached garage
• Utilities: Electric heating and cooling
• Home design: Single-story; Brick construction; Crawlspace foundation
• Construction: Brick exterior
• Exterior features: Partial fencing; Paved, publicly maintained road access

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (10 x 12); Bedroom 3 (10 x 11)
• Flooring: Plank; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Plank and vinyl flooring; Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-26 ($-312/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (16.3% below list).
• Recommended offer: $167k (16.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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; 1 comparable units currently listed for rent nearby; 1,765 units permitted in Leon County in 2024 (975 in 5+ unit buildings).
• This rent runs 32% 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $70k; list at $200k implies a 186% 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 $167,360 (16.3% 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. Built in 1972 — 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. 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: 0.84% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.56%
• DSCR: 0.98
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $188,708
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2917 Stokley Ln	0.07mi	3/1.5	988 (0%)	12mo	$162,000	$164	85
3838 Bell Rd	0.23mi	3/1.0	960 (-3%)	6mo	$115,000	$120	80
3834 Bell Rd	0.24mi	3/1.0	976 (-1%)	11mo	$182,500	$187	77
3823 Bell Rd	0.30mi	3/1.0	1,040 (+5%)	9mo	$205,000	$197	70
2610 Rippee Rd	0.60mi	3/1.5	1,056 (+7%)	20mo	$217,500	$206	42
2112 Harriet Dr	0.70mi	3/2.0	1,112 (+13%)	19mo	$212,000	$191	26

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: -17.1%
• Equity multiple: 0.40×
• Total profit: $-33,840
• Equity at exit: $29,806

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-30,747
• Equity at exit: $17,284

Cash invested: $55,972 (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: 10.0×

Monthly cashflow live

• Estimated rent: $1,674 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$217 /mo · $2,598/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-26

Break-even live

Break-even rent $1,706

Max offer price $195,310

Occupancy floor 97%

Sensitivity live

Price	-10% $87	-5% $31	+0% $-26	+5% $-83	+10% $-139
Rent	-10% $-158	-5% $-92	+0% $-26	+5% $40	+10% $106
Rate	-1.0pp $75	-0.5pp $25	base $-26	+0.5pp $-78	+1.0pp $-130

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3380 Fred George Rd Tallahassee, FL	1.0–3.0	1.0–2.0	895	$1,700	$1.90	14d	9	0.73mi

Listing history 12 events

1. 2026-06-18
   days on market $199,900 Active 14 DOM
2. 2026-06-17
   days on market $199,900 Active 13 DOM
3. 2026-06-16
   days on market $199,900 Active 12 DOM
4. 2026-06-15
   days on market $199,900 Active 11 DOM
5. 2026-06-14
   days on market $199,900 Active 9 DOM
6. 2026-06-10
   days on market $199,900 Active 6 DOM
7. 2026-06-09
   days on market $199,900 Active 5 DOM
8. 2026-06-08
   days on market $199,900 Active 4 DOM
9. 2026-06-07
   remarks 549-char remark
10. 2026-06-07
    days on market $199,900 Active 3 DOM
11. 2026-06-05
    remarks 390-char remark
12. 2026-06-05
    listed $199,900 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: $2,598 · $217/mo
• Projected year-2 tax: $2,598 · $217/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: $20,083
• − Mortgage interest: −$11,198
• − Property taxes: −$2,598
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,607
• − Management: −$1,607
• − Depreciation: −$5,815
• Taxable loss: −$3,741
• Est. tax savings @ 24.0%: +$898
• After-tax cash flow: $586/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): 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

+303.8% since first listed

3 events — show timeline

• 2026-06-01 Listed $199,900 CATRS
• 2010-04-26 Sold (Public Records) $70,000 Public Records
• 1992-03-01 Sold (Public Records) $49,500 Public Records

Property tax history

+14.0%/yr

Latest (2025): $2,598 · +18.2% YoY. Source: county tax records.