1334 Kings Dr · Tallahassee, FL 32301

$175,000

2 bd · 1.5 ba · 882 sqft · Townhouse public records · 126 Days on market

Built 1983 6,098 sqft lot Est $180k · at est.

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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 +8.7/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• DSCR +3.8/10.0
• Rent growth +3.5/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained townhouse featuring brand-new floors and fresh interior paint throughout. This move-in-ready home offers a bright and inviting atmosphere, perfect for a new or small family looking to settle into a comfortable space. Enjoy a functional layout with plenty of natural light, creating a warm and welcoming environment. Conveniently located near Governor’s Square Mall and Sam’s Club, you’ll have easy access to shopping, dining, and everyday essentials just minutes away. Whether you're a first-time homebuyer or looking to downsize, this charming townhouse is a wonderful place to call home!

Key facts

• New floors
• Natural light
• Functional layout

Tags

• NEW FLOORS
• FRESH INTERIOR PAINT
• FUNCTIONAL LAYOUT
• NATURAL LIGHT
• CONVENIENTLY LOCATED
• EASY ACCESS TO SHOPPING

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Driveway
• Utilities: Septic tank; Publicly maintained road
• Home design: Single-story home
• Construction: Brick and fiber cement exterior
• Exterior features: Deck; Fully fenced

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Bedroom (11x8); Additional bedroom/room (15x11)
• Flooring: Plank flooring; Tile flooring; Vinyl flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Heat pump; Ceiling fan(s)
• Interior features: Fireplace; Fully fenced yard

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $175k.

Deal economics

• At list price, monthly cash flow is $-23 ($-274/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (19.8% below list).
• Recommended offer: $140k (19.8% 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.
• Zoned schools: Apalachee Elementary School (math 31% / reading 36%, grade F, #1,758 of 2,144 statewide, top 83%, 544 students, 72% FRL); Fairview Middle School (math 44% / reading 46%, grade D, #310 of 571 statewide, top 56%, 747 students, 58% 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 63% FRL vs 45% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 36% at this address vs 50% district-wide (-14 pts) — the specific schools serving this property underperform the Leon average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.2%/yr); 121 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 33% of the median local income ($51k/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 $5k 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

• It's been on market 126 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $175k implies a 249% 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 $140,404 (19.8% 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. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.80% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.56%
• DSCR: 0.98
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $179,928
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1328 Kings Dr	0.02mi	2/2.0	882 (0%)	12mo	$180,000	$204	87

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 · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -16.0%
• Equity multiple: 0.42×
• Total profit: $-28,181
• Equity at exit: $26,093

10-year hold

• IRR: -5.9%
• Equity multiple: 0.60×
• Total profit: $-19,554
• Equity at exit: $15,131

Cash invested: $49,000 (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 32301

• Rents YoY: 4.2%
• Active inventory: 121
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,404 high
• Mortgage (P&I): −$918
• Tax from tax record: −$141 /mo · $1,697/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$295
• Net cashflow: $-23

Break-even live

Break-even rent $1,433

Max offer price $170,967

Occupancy floor 97%

Sensitivity live

Price	-10% $76	-5% $27	+0% $-23	+5% $-72	+10% $-122
Rent	-10% $-134	-5% $-78	+0% $-23	+5% $33	+10% $88
Rate	-1.0pp $65	-0.5pp $22	base $-23	+0.5pp $-68	+1.0pp $-114

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2750 Old Saint Augustine Rd Tallahassee, FL	1.0–3.0	1.0–2.0	1230	$1,589	$1.29	23d	2	0.22mi
2850 Apalachee Pkwy Tallahassee, FL	1.0	1.0	750	$1,395	$1.86	15d	46	0.42mi
2074 Midyette Rd Tallahassee, FL	2.0–3.0	2.0	1033	$899	$0.87	15d	1	0.66mi
3373 Apalachee Pkwy Tallahassee, FL	1.0–2.0	1.0–2.0	779	$1,258	$1.61	15d	1	0.69mi
1453 Fisher Ln Unit 1453 Tallahassee, FL	2.0	1.0	674	$1,600	$2.37	23d	1	0.70mi
1539 Paul Russell Rd Tallahassee, FL	1.0	1.0	800	$950	$1.19	23d	1	0.88mi
2001 Old Saint Augustine Rd Tallahassee, FL	1.0–2.0	1.0–2.0	875	$1,436	$1.64	15d	11	1.00mi
1872 Darryl Dr Tallahassee, FL	2.0	2.0	1062	$1,500	$1.41	23d	1	1.05mi
600 Victory Garden Dr Tallahassee, FL	1.0	1.0	923	$1,389	$1.50	23d	1	1.21mi
501 S Blair Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	1080	$1,470	$1.36	23d	1	1.23mi
2221 Orange Ave E Tallahassee, FL	1.0–3.0	1.0–2.0	1007	$1,884	$1.87	15d	28	1.23mi
2400 Barcelona Ct Tallahassee, FL	3.0	2.0	1080	$1,600	$1.48	15d	1	1.23mi
599 Chicopee Ct Unit D Tallahassee, FL	2.0	1.0	900	$1,095	$1.22	23d	1	1.28mi
3550 Esplanade Way Tallahassee, FL	1.0–3.0	1.0–2.0	1031	$1,802	$1.75	15d	27	1.30mi
581 Holyoke Ct Apt C Tallahassee, FL	2.0	1.0	995	$1,125	$1.13	23d	1	1.31mi
410 Victory Garden Dr Tallahassee, FL	1.0–3.0	1.0–2.5	1183	$1,485	$1.26	23d	1	1.36mi
1411 Lazy Brk Unit D Tallahassee, FL	2.0	1.0	950	$1,150	$1.21	23d	1	1.39mi
1412 Ramble Brk Unit C Tallahassee, FL	2.0	1.0	950	$1,050	$1.11	23d	1	1.40mi
3909 Reserve Dr Tallahassee, FL	1.0–3.0	1.0–2.0	1220	$1,588	$1.30	15d	1	1.41mi
2102 E Park Ave Tallahassee, FL	1.0–2.0	1.0–1.5	715	$1,545	$2.16	15d	8	1.43mi

Listing history 24 events

1. 2026-06-22
   days on market $175,000 Active 126 DOM
2. 2026-06-18
   days on market $175,000 Active 123 DOM
3. 2026-06-17
   days on market $175,000 Active 122 DOM
4. 2026-06-16
   days on market $175,000 Active 121 DOM
5. 2026-06-15
   days on market $175,000 Active 120 DOM
6. 2026-06-14
   days on market $175,000 Active 118 DOM
7. 2026-06-10
   days on market $175,000 Active 115 DOM
8. 2026-06-09
   days on market $175,000 Active 114 DOM
9. 2026-06-08
   days on market $175,000 Active 113 DOM
10. 2026-06-07
    days on market $175,000 Active 112 DOM
11. 2026-06-05
    days on market $175,000 Active 109 DOM
12. 2026-06-03
    days on market $175,000 Active 108 DOM
13. 2026-06-02
    days on market $175,000 Active 107 DOM
14. 2026-06-01
    days on market $175,000 Active 106 DOM
15. 2026-05-31
    days on market $175,000 Active 105 DOM
16. 2026-05-30
    days on market $175,000 Active 104 DOM
17. 2026-05-05
    price $177,000
18. 2026-04-12
    status Active
19. 2026-03-26
    historical Active Under Contract
20. 2026-03-09
    price $180,000
21. 2026-02-15
    listed $185,000 Active
22. 1997-05-02
    soldstatus $50,100
23. 1997-05-02
    soldstatus $50,100
24. 1994-09-07
    soldstatus $47,900

ⓘ 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: $1,697 · $141/mo
• Projected year-2 tax: $1,697 · $141/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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,848
• − Mortgage interest: −$9,803
• − Property taxes: −$1,697
• − Insurance: −$875
• − Repairs & maintenance: −$1,348
• − Management: −$1,348
• − Depreciation: −$5,091
• Taxable loss: −$3,313
• Est. tax savings @ 24.0%: +$795
• After-tax cash flow: $521/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): 32,017
• Household income: $50,942
• Rent vs Own: 68.8% rent · 31.2% own
• Severe rent burden: 2625.0

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 49% White 38% Hispanic / Latino 6% Two or more races 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 1% Cuban 1%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 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: ▼ -231.50%
• Current HPI: 231.103
• Rent YoY: ▲ 4.16%
• 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

+269.5% since first listed

8 events — show timeline

• 2026-05-05 Price Changed $177,000 CATRS
• 2026-04-12 Relisted — CATRS
• 2026-03-26 Contingent — CATRS
• 2026-03-09 Price Changed $180,000 CATRS
• 2026-02-15 Listed $185,000 CATRS
• 1997-05-02 Sold (Public Records) $50,100 Public Records
• 1997-05-02 Sold (Public Records) $50,100 Public Records
• 1994-09-07 Sold (Public Records) $47,900 Public Records

Property tax history

+5.8%/yr

Latest (2025): $1,697 · +8.5% YoY. Source: county tax records.