1056 Longstreet Dr · Tallahassee, FL 32311

$220,000

3 bd · 2.0 ba · 1,876 sqft · SingleFamily public records · 45 Days on market

Built 1978 9,147 sqft lot Est $413k · 47% under

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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).

• ARV discount +15.0/15.0
• Cash flow +12.8/30.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• 1% rule +4.1/10.0
• Rent growth +3.9/5.0
• DSCR +3.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

* * Reduced $10,000!! * * AND. .. This home is eligible for a Conventional Loan that requires 0% down (and No PMI). * * * That's right 0% Down AND No PMI!!! * * * . This 3 bedroom, 2 bathroom home offers an open-concept floor plan, 1,150 square feet, PLUS a bonus room of nearly 300 square feet that is not included in the home’s heated and cooled square footage—giving you even more usable space for a home office, playroom, second living area, or hobby room. Inside, you’ll find a very practical layout, NEW Oven, NEW Dishwasher, a walk-in closet in the primary bedroom, and a 2-car garage with and additional refrigerator and added cabinetry for added storage and conve

Key facts

• Bonus room
• Walk in closet
• 9,147 sq ft lot

Tags

• OPEN CONCEPT FLOOR PLAN
• BONUS ROOM
• WALK IN CLOSET
• LARGE SHADED BACKYARD
• LESS THAN 5 MINUTES TO WALMART

Property features AI

Finance

• HOA & community: Street lights in the community

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public sewer
• Home design: Single-story; Lot dimensions approximately 134 x 70 x 134 x 70
• Exterior features: Fully fenced yard; Public maintained paved road access

Interior

• Kitchen: Dishwasher; Icemaker; Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (10 x 9); Bedroom 3 (10 x 11)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (Electric and Wood); Central air conditioning (Electric)
• Interior features: High ceilings; Tile flooring; Fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-19 ($-227/yr) — negative.
• To cash-flow at today's rent, offer at most $217k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (9.5% below list).
• Recommended offer: $199k (9.5% below list) — sets the bar for 1% rule.
• 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.
• Market conditions: Rents rising fast (+5.5%/yr); 117 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 45 days — a 3% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y 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 $46k; list at $220k implies a 379% 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 $199,165 (9.5% 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 45 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.91% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.37%
• DSCR: 0.98
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $412,720
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4075 Old Plantation Loop	0.52mi	3/2.0	1,706 (-9%)	6mo	$399,000	$234	56
4017 Old Plantation Loop	0.58mi	3/2.0	1,706 (-9%)	4mo	$362,000	$212	55
3611 Hood Ct	0.09mi	4/2.0 (+1)	1,664 (-11%)	23mo	$247,500	$149	53
1029 Carrin Dr	0.29mi	3/2.0	2,064 (+10%)	22mo	$215,000	$104	52
4024 Old Plantation Loop	0.59mi	3/2.0	1,706 (-9%)	11mo	$375,000	$220	48
4021 Old Plantation Loop	0.57mi	3/2.0	1,706 (-9%)	12mo	$360,000	$211	48
4071 Old Plantation Loop	0.52mi	3/2.0	1,706 (-9%)	17mo	$392,000	$230	46
4092 Old Plantation Loop	0.48mi	3/2.0	1,638 (-13%)	13mo	$375,000	$229	46
1417 Southwood Plantation Rd	0.62mi	3/2.0	1,604 (-14%)	4mo	$412,500	$257	43

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 · 5.55% rent growth · sell at horizon

5-year hold

• IRR: -13.9%
• Equity multiple: 0.49×
• Total profit: $-31,541
• Equity at exit: $32,803

10-year hold

• IRR: -1.3%
• Equity multiple: 0.90×
• Total profit: $-6,060
• Equity at exit: $19,022

Cash invested: $61,600 (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 32311

• Home prices YoY: -27.5%
• Rents YoY: 5.5%
• Active inventory: 117
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,992 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$347 /mo · $4,164/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $-19

Break-even live

Break-even rent $2,016

Max offer price $216,655

Occupancy floor 96%

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3909 Reserve Dr Tallahassee, FL	1.0–3.0	1.0–2.0	1220	$1,825	$1.50	13d	1	0.41mi
3148 Dick Wilson Blvd Tallahassee, FL	1.0–3.0	1.0–2.0	1536	$1,940	$1.26	13d	14	0.52mi
2912 Capital Park Dr Tallahassee, FL	3.0	2.0	1236	$1,650	$1.33	13d	1	1.17mi
1736 Augustine Pl Tallahassee, FL	3.0	2.0	1400	$2,000	$1.43	21d	1	1.21mi
430 Grail Ct Tallahassee, FL	3.0	2.0	1252	$2,300	$1.84	21d	1	1.26mi
2750 Old Saint Augustine Rd Tallahassee, FL	1.0–3.0	1.0–2.0	1230	$1,739	$1.41	21d	2	1.27mi
432 Merlin Way Tallahassee, FL	3.0	2.0	1453	$2,150	$1.48	21d	1	1.44mi
1320 Hendrix Rd #301 Tallahassee, FL	3.0	2.5	1554	$1,695	$1.09	21d	1	1.48mi

Listing history 25 events

1. 2026-06-18
   days on market $220,000 Active 45 DOM
2. 2026-06-17
   days on market $220,000 Active 44 DOM
3. 2026-06-16
   days on market $220,000 Active 43 DOM
4. 2026-06-15
   days on market $220,000 Active 42 DOM
5. 2026-06-14
   days on market $220,000 Active 40 DOM
6. 2026-06-10
   days on market $220,000 Active 37 DOM
7. 2026-06-09
   days on market $220,000 Active 36 DOM
8. 2026-06-08
   days on market $220,000 Active 35 DOM
9. 2026-06-07
   days on market $220,000 Active 34 DOM
10. 2026-06-05
    pricedays on market $220,000 Active 31 DOM
11. 2026-06-03
    days on market $230,000 Active 30 DOM
12. 2026-06-02
    days on market $230,000 Active 29 DOM
13. 2026-06-01
    days on market $230,000 Active 28 DOM
14. 2026-05-31
    days on market $230,000 Active 27 DOM
15. 2026-05-30
    days on market $230,000 Active 26 DOM
16. 2026-05-11
    status Active
17. 2026-03-27
    historical Active Under Contract
18. 2026-03-27
    historical
19. 2026-03-27
    price $230,000
20. 2026-03-20
    listed $225,000 Active
21. 2014-05-29
    soldstatus $45,900
22. 2007-04-05
    historical
23. 2006-10-05
    listed $175,000
24. 2004-12-15
    soldstatus $125,000
25. 1981-04-01
    soldstatus $58,500

ⓘ 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: $4,164 · $347/mo
• Projected year-2 tax: $4,164 · $347/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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,900
• − Mortgage interest: −$12,323
• − Property taxes: −$4,164
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,912
• − Management: −$1,912
• − Depreciation: −$6,400
• Taxable loss: −$3,911
• Est. tax savings @ 24.0%: +$939
• After-tax cash flow: $711/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): 21,905
• Household income: $81,243
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 795.0

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 0.64)
• Race & ethnicity: White 52% Black 27% Two or more races 10% Hispanic / Latino 9% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 1%
• Common ancestry: Romanian 2% Serbian 2% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -90.68%
• Current HPI: 238.8804
• Rent YoY: ▲ 5.55%
• 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

+293.2% since first listed

10 events — show timeline

• 2026-05-11 Relisted — CATRS
• 2026-03-27 Contingent — CATRS
• 2026-03-27 Price Changed $230,000 CATRS
• 2026-03-27 Listing Removed — CATRS
• 2026-03-20 Listed $225,000 CATRS
• 2014-05-29 Sold (Public Records) $45,900 Public Records
• 2007-04-05 Listing Removed — CATRS
• 2006-10-05 Listed $175,000 CATRS
• 2004-12-15 Sold (Public Records) $125,000 Public Records
• 1981-04-01 Sold (Public Records) $58,500 Public Records

Property tax history

+7.9%/yr

Latest (2025): $4,164 · +6.4% YoY. Source: county tax records.