1206 Abraham St · Tallahassee, FL 32304

$190,000

4 bd · 2.0 ba · 1,394 sqft · SingleFamily public records · 27 Days on market

Built 1953 6,534 sqft lot Est $222k · 14% 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 +24.7/30.0
• ARV discount +13.9/15.0
• DSCR +8.0/10.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property has beautiful numbers even though it is in need of a TOTAL REHAB. There is room for design features that will make your money grow. This is a concrete block structure on a finished lot with utilities attached. It has a hole in the roof and floor in 2 bedrooms. This is not a typical DIY project. When repaired it will be a great investment opportunity. Why pay dorm rent for a child going to FSU or FAMU. Property located minutes from FSU, FAMU and downtown Tallahassee. A short drive to TCC, close to shopping, parks and entertainment. The price of rehab has been taken into consideration in setting the listing price.

Key facts

• New exterior doors
• Newer roof
• Fire pit

Tags

• NEWER ROOF
• NEW HVAC SYSTEM
• UPDATED ELECTRICAL WIRING
• NEW EXTERIOR DOORS
• FENCED BACKYARD
• FIRE PIT

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Carport with 1 space
• Utilities: Electric heating and cooling
• Home design: Single-story home; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Fully fenced yard; Publicly maintained road access

Interior

• Kitchen: Kitchen (9x11)
• Bedrooms: Bedroom 2 (12x14); Bedroom 3 (12x14); Bedroom 4 (9x12); Additional bedroom/room (13x15)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Living room; Family room; Dining room; Other room (7x8)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $399 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% 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 fast (+4.7%/yr); 142 active listings in the ZIP; 28 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 $1,952/mo this rent would consume 72% 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 $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.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $53k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $35k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $46k; list at $190k implies a 313% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $187,150 (1.5% below list)

Questions for the listing agent

1. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.03% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.99%
• DSCR: 1.40
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $221,646
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1318 Clay St	0.10mi	3/2.0 (-1)	1,355 (-3%)	2mo	$290,000	$214	84
1418 Calloway St	0.31mi	4/2.0	1,456 (+4%)	7mo	$205,000	$141	72
735 Westcott St	0.46mi	3/2.0 (-1)	1,399 (+0%)	7mo	$285,500	$204	68
1115 N Woodward Ave	0.19mi	3/2.0 (-1)	1,496 (+7%)	8mo	$235,000	$157	67
733 California St	0.58mi	4/4.0	1,392 (-0%)	8mo	$90,000	$65	58
1015 Richmond St	0.17mi	3/2.0 (-1)	1,186 (-15%)	7mo	$82,500	$70	56
1714 Monticello Dr	0.70mi	3/2.0 (-1)	1,376 (-1%)	5mo	$190,000	$138	56
817 Buena Vista Dr	0.70mi	4/3.0	1,363 (-2%)	5mo	$240,395	$176	55
1007 Preston Ct	0.35mi	3/2.0 (-1)	1,568 (+12%)	6mo	$250,000	$159	53
1304 Gibbs Dr	0.55mi	3/2.0 (-1)	1,277 (-8%)	5mo	$272,000	$213	51
732 Efferson St	0.53mi	3/1.0 (-1)	1,569 (+13%)	6mo	$145,000	$92	40
786 Arkansas	0.61mi	3/2.0 (-1)	1,564 (+12%)	8mo	$250,000	$160	39

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: -1.0%
• Equity multiple: 0.96×
• Total profit: $-2,095
• Equity at exit: $28,330

10-year hold

• IRR: 10.2%
• Equity multiple: 1.84×
• Total profit: $44,908
• Equity at exit: $16,428

Cash invested: $53,200 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,952 high
• Mortgage (P&I): −$996
• Tax from tax record: −$68 /mo · $818/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $399

Break-even live

Break-even rent $1,448

Max offer price $190,000

Occupancy floor 75%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1004 Volusia St Tallahassee, FL	4.0	2.0	1360	$1,800	$1.32	13d	1	0.25mi
1107 Basin St Unit A Tallahassee, FL	3.0	2.0	1215	$2,400	$1.98	21d	1	0.32mi
1329 Nylic St #1 Tallahassee, FL	3.0	3.0	1275	$1,800	$1.41	21d	1	0.33mi
859 W Brevard St Tallahassee, FL	4.0	4.0	1500	$1,900	$1.27	13d	1	0.46mi
847 W Georgia St Tallahassee, FL	4.0	4.0	1500	$1,900	$1.27	13d	1	0.53mi
832 Arkansas St Tallahassee, FL	3.0	1.0	1296	$1,400	$1.08	21d	1	0.58mi
1325 W Tharpe St Tallahassee, FL	1.0–3.0	1.0–4.0	937	$1,676	$1.79	13d	21	0.59mi
747 Gold Nugget Trl Tallahassee, FL	3.0	2.0	1555	$1,700	$1.09	21d	1	0.67mi
1111 High Rd Tallahassee, FL	2.0–3.0	2.0	1000	$1,594	$1.59	13d	11	0.72mi
322 Conradi St Tallahassee, FL	3.0	2.0	1100	$1,950	$1.77	21d	4	0.77mi
1001 Ocala Rd Tallahassee, FL	4.0	1.0–2.0	899	$699	$0.78	21d	6	0.90mi
2060 Continental Ave Tallahassee, FL	1.0–3.0	1.0–2.5	1121	$1,185	$1.06	13d	26	0.95mi
412 W Brevard St Unit 412 Tallahassee, FL	3.0	2.0	900	$800	$0.89	21d	1	0.98mi
1303 Ocala Rd Tallahassee, FL	1.0–4.0	1.0–2.0	1121	$1,570	$1.40	13d	48	1.00mi
1350 Ocala Rd Unit C Tallahassee, FL	4.0	3.0	1142	$1,550	$1.36	21d	1	1.05mi
828 N Duval St Tallahassee, FL	3.0	2.5	1498	$2,600	$1.74	21d	1	1.09mi
1800 W Pensacola St Tallahassee, FL	2.0–5.0	2.0–5.0	1662	$4,216	$2.54	21d	1	1.15mi
1612 Overstreet St Tallahassee, FL	3.0	3.0	1500	$3,300	$2.20	21d	1	1.20mi
2301 Old Bainbridge Rd Tallahassee, FL	2.0–3.0	1.0–2.0	1084	$1,600	$1.48	21d	1	1.30mi
440 N Monroe St Tallahassee, FL	3.0	1.0–3.0	1311	$3,850	$2.94	13d	15	1.32mi
1854 Belle Vue Way Tallahassee, FL	2.0–4.0	1.0–2.0	1100	$2,300	$2.09	21d	1	1.37mi
2182 Timberwood Cir S Unit 1 Tallahassee, FL	3.0	2.5	1280	$1,599	$1.25	21d	1	1.40mi
1801 Lenora Dr Tallahassee, FL	3.0	1.0	1150	$1,800	$1.57	21d	1	1.43mi
1560 San Luis Rd Tallahassee, FL	3.0	3.5	1500	$774	$0.52	21d	22	1.47mi
1313 N Gadsden St Unit 2 Tallahassee, FL	3.0	1.0	1678	$3,500	$2.09	21d	1	1.48mi
414 Prince St Tallahassee, FL	4.0	2.0	1600	$1,600	$1.00	21d	1	1.48mi
1327 Jackson Bluff Rd Tallahassee, FL	2.0–4.0	2.0	1450	$895	$0.62	21d	1	1.48mi
1447 Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	890	$1,545	$1.74	21d	1	1.48mi

Listing history 21 events

1. 2026-06-18
   pricedays on market $190,000 Active 27 DOM
2. 2026-06-17
   days on market $225,000 Active 26 DOM
3. 2026-06-16
   days on market $225,000 Active 25 DOM
4. 2026-06-15
   days on market $225,000 Active 24 DOM
5. 2026-06-14
   days on market $225,000 Active 22 DOM
6. 2026-06-10
   days on market $225,000 Active 19 DOM
7. 2026-06-09
   days on market $225,000 Active 18 DOM
8. 2026-06-08
   days on market $225,000 Active 17 DOM
9. 2026-06-07
   days on market $225,000 Active 16 DOM
10. 2026-06-05
    days on market $225,000 Active 13 DOM
11. 2026-06-03
    days on market $225,000 Active 12 DOM
12. 2026-06-02
    days on market $225,000 Active 11 DOM
13. 2026-06-01
    days on market $225,000 Active 10 DOM
14. 2026-05-31
    days on market $225,000 Active 9 DOM
15. 2026-05-30
    days on market $225,000 Active 8 DOM
16. 2026-05-22
    listed $225,000 Active
17. 2021-08-27
    soldstatus $46,000 Closed 633-char remark

    Show marketing remark (633 chars)

    This property has beautiful numbers even though it is in need of a TOTAL REHAB. There is room for design features that will make your money grow. This is a concrete block structure on a finished lot with utilities attached. It has a hole in the roof and floor in 2 bedrooms. This is not a typical DIY project. When repaired it will be a great investment opportunity. Why pay dorm rent for a child going to FSU or FAMU. Property located minutes from FSU, FAMU and downtown Tallahassee. A short drive to TCC, close to shopping, parks and entertainment. The price of rehab has been taken into consideration in setting the listing price.

18. 2021-08-27
    soldstatus $46,000

    Show marketing remark (633 chars)

    This property has beautiful numbers even though it is in need of a TOTAL REHAB. There is room for design features that will make your money grow. This is a concrete block structure on a finished lot with utilities attached. It has a hole in the roof and floor in 2 bedrooms. This is not a typical DIY project. When repaired it will be a great investment opportunity. Why pay dorm rent for a child going to FSU or FAMU. Property located minutes from FSU, FAMU and downtown Tallahassee. A short drive to TCC, close to shopping, parks and entertainment. The price of rehab has been taken into consideration in setting the listing price.

19. 2021-08-16
    historical Active Under Contract 633-char remark

    Show marketing remark (633 chars)

    This property has beautiful numbers even though it is in need of a TOTAL REHAB. There is room for design features that will make your money grow. This is a concrete block structure on a finished lot with utilities attached. It has a hole in the roof and floor in 2 bedrooms. This is not a typical DIY project. When repaired it will be a great investment opportunity. Why pay dorm rent for a child going to FSU or FAMU. Property located minutes from FSU, FAMU and downtown Tallahassee. A short drive to TCC, close to shopping, parks and entertainment. The price of rehab has been taken into consideration in setting the listing price.

20. 2021-06-17
    listed $55,000 Active 633-char remark

    Show marketing remark (633 chars)

    This property has beautiful numbers even though it is in need of a TOTAL REHAB. There is room for design features that will make your money grow. This is a concrete block structure on a finished lot with utilities attached. It has a hole in the roof and floor in 2 bedrooms. This is not a typical DIY project. When repaired it will be a great investment opportunity. Why pay dorm rent for a child going to FSU or FAMU. Property located minutes from FSU, FAMU and downtown Tallahassee. A short drive to TCC, close to shopping, parks and entertainment. The price of rehab has been taken into consideration in setting the listing price.

21. 2021-03-13
    listed $43,000

ⓘ 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: $818 · $68/mo
• Projected year-2 tax: $1,577 · $131/mo
• Expected delta: +$759/yr (+$63/mo · 92.8%)

ⓘ 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: $23,429
• − Mortgage interest: −$10,643
• − Property taxes: −$818
• − Insurance: −$950
• − Repairs & maintenance: −$1,874
• − Management: −$1,874
• − Depreciation: −$5,527
• Taxable income: $1,742
• Est. tax owed @ 24.0%: −$418
• After-tax cash flow: $4,366/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): 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

+423.3% since first listed

6 events — show timeline

• 2026-05-22 Listed $225,000 CATRS
• 2021-08-27 Sold (Public Records) $46,000 Public Records
• 2021-08-27 Sold (MLS) $46,000 CATRS
• 2021-08-16 Contingent — CATRS
• 2021-06-17 Listed $55,000 CATRS
• 2021-03-13 Listed $43,000 CATRS

Property tax history

+5.8%/yr

Latest (2025): $818 · +11.4% YoY. Source: county tax records.