2310 Tallahassee Dr · Tallahassee, FL 32309

$219,000

4 bd · 1.5 ba · 1,560 sqft · SingleFamily public records · 243 Days on market

Built 1967 0.42 ac lot Est $318k · 31% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• Rent growth +4.8/5.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• 1% rule +4.0/10.0
• DSCR +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Awesome Opportunity to own a single family home in a great NE location at an attractive price. Home needs new owner to put their finishing touches to bring it back to its full potential. 4 bedrooms, 1.5 bath home with large bedrooms, living spaces and open kitchen. Large corner lot with big front yard, large backyard with a big storage shed.

Key facts

• Storage shed
• Fenced backyard
• Corner lot

Tags

• CORNER LOT
• FENCED BACKYARD
• STORAGE SHED

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Driveway
• Utilities: Has cooling (wall/window units)
• Home design: 2-story home
• Construction: Brick construction; Slab foundation
• Exterior features: Paved road access

Interior

• Kitchen: Kitchen (12x14)
• Bedrooms: Bedroom 2 (10x11); Bedroom 3 (12x11); Bedroom 4 (11x11); Primary bedroom located on the upper level
• Flooring: Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Wall/window cooling units
• Interior features: Carpet flooring; Upper-level primary bedroom

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $219k.

Deal economics

• At list price, monthly cash flow is $-19 ($-232/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (10.4% below list).
• Recommended offer: $193k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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: Gilchrist Elementary School (math 79% / reading 83%, grade A+, #95 of 2,144 statewide, top 5%, 864 students, 20% FRL); William J Montford Iii Middle School (math 72% / reading 69%, grade A, #63 of 571 statewide, top 11%, 921 students, 22% FRL); Lincoln High School (math 37% / reading 54%, grade D-, #223 of 667 statewide, top 34%, 1,861 students, 28% FRL) — zoned schools average 23% FRL vs 45% district-wide (21 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 66% at this address vs 50% district-wide (+15 pts) — the actual schools serving this property are materially stronger than the Leon average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+9.1%/yr); 108 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 1,765 units permitted in Leon County in 2024 (975 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 243 days — a 12% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 4y 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.
• Current owner paid $187k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $192,720 (12.0% 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 243 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — 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: 0.90% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.38%
• DSCR: 0.98
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $318,240
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3620 Barbary Dr	0.20mi	3/2.0 (-1)	1,539 (-1%)	9mo	$300,000	$195	74
2377 Tallahassee Dr	0.04mi	4/2.0	1,448 (-7%)	14mo	$306,000	$211	73
4012 Yardley Cir	0.59mi	3/2.0 (-1)	1,561 (+0%)	3mo	$345,000	$221	63
3640 Barbary Dr	0.26mi	3/2.0 (-1)	1,744 (+12%)	3mo	$330,000	$189	59
2323 Meath Dr	0.35mi	4/2.0	1,653 (+6%)	23mo	$329,000	$199	52
3762 Suffolk Dr	0.51mi	3/2.0 (-1)	1,541 (-1%)	19mo	$350,000	$227	52
3716 Suffolk Dr	0.40mi	3/2.0 (-1)	1,783 (+14%)	1mo	$422,300	$237	50
2305 Carrick Ct	0.51mi	3/2.0 (-1)	1,662 (+6%)	10mo	$290,000	$174	50
3517 E Kilkenny Dr	0.32mi	3/2.0 (-1)	1,742 (+12%)	21mo	$350,000	$201	41
2508 Debden Ct	0.73mi	3/2.0 (-1)	1,502 (-4%)	16mo	$365,000	$243	40
2271 Hampshire Way	0.51mi	3/2.0 (-1)	1,740 (+12%)	24mo	$355,000	$204	30

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.57×
• Total profit: $-26,282
• Equity at exit: $32,654

10-year hold

• IRR: 4.2%
• Equity multiple: 1.38×
• Total profit: $23,000
• Equity at exit: $18,935

Cash invested: $61,320 (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 32309

• Rents YoY: 9.1%
• Active inventory: 108
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,963 medium
• Mortgage (P&I): −$1,148
• Tax from tax record: −$330 /mo · $3,962/yr
• Insurance: −$91
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-19

Break-even live

Break-even rent $1,987

Max offer price $215,585

Occupancy floor 96%

Sensitivity live

Price	-10% $105	-5% $43	+0% $-19	+5% $-81	+10% $-143
Rent	-10% $-174	-5% $-97	+0% $-19	+5% $58	+10% $136
Rate	-1.0pp $91	-0.5pp $36	base $-19	+0.5pp $-76	+1.0pp $-134

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: $54,750
• Closing costs: $6,570
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3251 Varnell Dr Tallahassee, FL	3.0	2.0	1120	$2,150	$1.92	23d	1	1.05mi
1655 Eagles Landing Blvd Tallahassee, FL	1.0–3.0	1.0–2.0	1205	$1,679	$1.39	23d	1	1.41mi
4843 Anhinga Ln Tallahassee, FL	3.0	2.0	1100	$2,000	$1.82	15d	1	1.49mi

Listing history 31 events

1. 2026-06-22
   days on market $219,000 Active 243 DOM
2. 2026-06-08
   days on market $219,000 Active 240 DOM
3. 2026-06-07
   days on market $219,000 Active 239 DOM
4. 2026-06-05
   days on market $219,000 Active 236 DOM
5. 2026-06-03
   days on market $219,000 Active 235 DOM
6. 2026-06-02
   days on market $219,000 Active 234 DOM
7. 2026-06-01
   days on market $219,000 Active 233 DOM
8. 2026-05-31
   days on market $219,000 Active 232 DOM
9. 2026-05-30
   days on market $219,000 Active 231 DOM
10. 2026-02-10
    status Active
11. 2026-02-08
    historical
12. 2025-10-10
    listed $219,000 Active
13. 2024-05-30
    soldstatus $187,000
14. 2024-04-04
    soldstatus $187,000 Closed 343-char remark

    Show marketing remark (343 chars)

    Awesome Opportunity to own a single family home in a great NE location at an attractive price. Home needs new owner to put their finishing touches to bring it back to its full potential. 4 bedrooms, 1.5 bath home with large bedrooms, living spaces and open kitchen. Large corner lot with big front yard, large backyard with a big storage shed.

15. 2024-03-10
    historical Active Under Contract 343-char remark

    Show marketing remark (343 chars)

    Awesome Opportunity to own a single family home in a great NE location at an attractive price. Home needs new owner to put their finishing touches to bring it back to its full potential. 4 bedrooms, 1.5 bath home with large bedrooms, living spaces and open kitchen. Large corner lot with big front yard, large backyard with a big storage shed.

16. 2024-02-21
    historical

    Show marketing remark (343 chars)

    Awesome Opportunity to own a single family home in a great NE location at an attractive price. Home needs new owner to put their finishing touches to bring it back to its full potential. 4 bedrooms, 1.5 bath home with large bedrooms, living spaces and open kitchen. Large corner lot with big front yard, large backyard with a big storage shed.

17. 2024-02-21
    listed $210,000 Active 343-char remark

    Show marketing remark (343 chars)

    Awesome Opportunity to own a single family home in a great NE location at an attractive price. Home needs new owner to put their finishing touches to bring it back to its full potential. 4 bedrooms, 1.5 bath home with large bedrooms, living spaces and open kitchen. Large corner lot with big front yard, large backyard with a big storage shed.

18. 2024-02-14
    status Active
19. 2024-02-06
    historical Active Under Contract
20. 2023-11-27
    historical
21. 2023-11-27
    listed $230,000 Active
22. 2023-11-17
    price $230,000
23. 2023-10-26
    price $249,000
24. 2023-10-04
    status Active
25. 2023-09-19
    historical Active Under Contract
26. 2023-09-18
    listed $259,000 Active
27. 2023-03-27
    soldstatus $160,000
28. 2023-03-22
    soldstatus $160,000 Closed
29. 2023-03-13
    listed $155,000 Active
30. 2022-10-25
    historical
31. 2022-09-24
    listed $200,000

ⓘ 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: $3,962 · $330/mo
• Projected year-2 tax: $3,962 · $330/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 2/10 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 · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,553
• − Mortgage interest: −$12,267
• − Property taxes: −$3,962
• − Insurance: −$1,095
• − Repairs & maintenance: −$1,884
• − Management: −$1,884
• − Depreciation: −$6,371
• Taxable loss: −$3,911
• Est. tax savings @ 24.0%: +$939
• After-tax cash flow: $707/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): 33,544
• Household income: $113,412
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 789.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Black 9% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 3%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -212.85%
• Current HPI: 247.4336
• Rent YoY: ▲ 9.06%
• 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

+9.5% since first listed

22 events — show timeline

• 2026-02-10 Relisted — CATRS
• 2026-02-08 Listing Removed — CATRS
• 2025-10-10 Listed $219,000 CATRS
• 2024-05-30 Sold (Public Records) $187,000 Public Records
• 2024-04-04 Sold (MLS) $187,000 CATRS
• 2024-03-10 Contingent — CATRS
• 2024-02-21 Listed $210,000 CATRS
• 2024-02-21 Listing Removed — CATRS
• 2024-02-14 Relisted — CATRS
• 2024-02-06 Contingent — CATRS
• 2023-11-27 Listed $230,000 CATRS
• 2023-11-27 Listing Removed — CATRS
• 2023-11-17 Price Changed $230,000 CATRS
• 2023-10-26 Price Changed $249,000 CATRS
• 2023-10-04 Relisted — CATRS
• 2023-09-19 Contingent — CATRS
• 2023-09-18 Listed $259,000 CATRS
• 2023-03-27 Sold (Public Records) $160,000 Public Records
• 2023-03-22 Sold (MLS) $160,000 CATRS
• 2023-03-13 Listed $155,000 CATRS
• 2022-10-25 Listing Removed — CATRS
• 2022-09-24 Listed $200,000 CATRS

Property tax history

+17.1%/yr

Latest (2025): $3,962 · +3.8% YoY. Source: county tax records.