2020 Continental Ave #105 · Tallahassee, FL 32304

$84,000

2 bd · 1.0 ba · 990 sqft · Condo public records · 98 Days on market

Built 1967 $350/mo HOA · 28% of rent

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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).

• Cash flow +17.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• 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

Cute 2bed/1bath condo in good condition. Located in the quiet and conveniently located neighborhood of Chateau De Ville. Just a short drive to FSU, TCC, FAMU, shopping, entertainment and downtown Tallahassee. Features include tile floors in living area, bathroom and kitchen, a private patio perfect for grilling out, and large closets. Split floor plan with seperate living and dining rooms. There is also a very nice community pool with a large sundeck.

Key facts

• Pool and pool house
• Fresh paint
• New washer and dryer

Tags

• EASY ACCESS TO COLLEGES
• SHORT WALK TO GYM
• POOL AND POOL HOUSE
• UPDATED WITH BEAUTIFUL FLOORS
• FRESH PAINT
• NEW WASHER AND DRYER

Property features AI

Finance

• Financial info: Offered for sale
• HOA & community: Association fee assessed (amount listed separately); Community pool

Exterior

• Parking: Parking space(s)
• Home design: Condominium (end unit)
• Exterior features: Private pool; Community pool; Paved road; Has a view

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Bedroom 2: 12 x 11
• Bathrooms: 1 full bathroom
• Interior features: End unit; No additional interior features listed
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $84k.

Deal economics

• At list price, monthly cash flow is $66 ($794/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Recommended offer: $76k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 (+4.7%/yr); 142 active listings in the ZIP; 40 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 $1,267/mo this rent would consume 47% 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 $581 of loan paydown is wiped out by about $3k 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 98 days — a 9% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• 4 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 $30k; list at $84k implies a 180% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $76,440 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.51% ✓
• Cap rate: 7.24%
• Cash-on-cash: 3.38%
• DSCR: 1.15
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.69% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.70×
• Total profit: $-6,970
• Equity at exit: $12,525

10-year hold

• IRR: 4.9%
• Equity multiple: 1.41×
• Total profit: $9,620
• Equity at exit: $7,263

Cash invested: $23,520 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,267 high
• Mortgage (P&I): −$441
• Tax from tax record: −$109 /mo · $1,307/yr
• Insurance: −$35
• HOA: −$350
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $66

Break-even live

Break-even rent $1,183

Max offer price $84,000

Occupancy floor 90%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 Continental Ave Tallahassee, FL	1.0–2.0	1.0–1.5	850	$1,300	$1.53	21d	3	0.02mi
1111 High Rd Tallahassee, FL	2.0–3.0	2.0	1000	$1,409	$1.41	13d	11	0.08mi
1108 Greentree Ct Tallahassee, FL	2.0	2.0	888	$1,275	$1.44	21d	1	0.13mi
2060 Continental Ave Tallahassee, FL	1.0–3.0	1.0–2.5	1121	$1,052	$0.94	13d	26	0.17mi
1303 Ocala Rd Tallahassee, FL	1.0–4.0	1.0–2.0	1121	$1,320	$1.18	13d	48	0.24mi
1360 Ocala Rd Tallahassee, FL	2.0	1.0	800	$1,000	$1.25	21d	1	0.34mi
1001 Ocala Rd Tallahassee, FL	4.0	1.0–2.0	899	$584	$0.65	21d	6	0.35mi
1380 Ocala Rd Tallahassee, FL	1.0	1.0	700	$975	$1.39	21d	1	0.43mi
1812 W Tharpe St Unit D Tallahassee, FL	1.0	1.0	650	$950	$1.46	21d	1	0.57mi
1410 Nylic St Unit B Tallahassee, FL	2.0	1.0	550	$900	$1.64	13d	1	0.58mi
810 Wadsworth St Tallahassee, FL	1.0	1.0	600	$1,123	$1.87	13d	2	0.61mi
1325 W Tharpe St Tallahassee, FL	1.0–3.0	1.0–4.0	937	$1,511	$1.61	13d	21	0.65mi
836 Richmond St Unit 10 Tallahassee, FL	1.0	1.0	540	$875	$1.62	13d	1	0.73mi
836 Richmond St Unit 10 Tallahassee, FL	1.0	1.0	540	$875	$1.62	21d	1	0.73mi
322 Conradi St Tallahassee, FL	3.0	2.0	1100	$1,950	$1.77	21d	4	0.80mi
2353 W Mission Rd Tallahassee, FL	2.0–3.0	2.0–2.5	1012	$1,250	$1.23	13d	11	0.82mi
2350 Horne Ave Unit 2 Tallahassee, FL	2.0	2.0	800	$995	$1.24	21d	1	0.84mi
2349 Horne Ave Unit C Tallahassee, FL	2.0	1.0	680	$1,100	$1.62	13d	1	0.86mi
916 N Woodward Ave #1 Tallahassee, FL	2.0	1.0	794	$1,000	$1.26	13d	1	0.96mi
2259 Parrot Ln Tallahassee, FL	2.0	2.0	992	$1,275	$1.29	21d	1	1.01mi
2327 Parrot Ln Tallahassee, FL	3.0	2.0	1088	$1,300	$1.19	21d	1	1.05mi
214 White Dr Unit F Tallahassee, FL	1.0	1.0	656	$1,200	$1.83	21d	1	1.10mi
205 White Dr Tallahassee, FL	1.0–4.0	1.0–4.0	1155	$637	$0.55	21d	1	1.11mi
218 White Dr Tallahassee, FL	1.0	1.0	660	$995	$1.51	21d	1	1.12mi
220 Atkinson Dr Unit D Tallahassee, FL	2.0	1.0	928	$1,100	$1.19	21d	1	1.17mi
2202 W Pensacola St Tallahassee, FL	1.0–3.0	1.0	950	$1,224	$1.29	21d	3	1.17mi
2301 Old Bainbridge Rd Tallahassee, FL	2.0–3.0	1.0–2.0	1084	$1,200	$1.11	21d	1	1.19mi
2616 Mission Rd Tallahassee, FL	1.0–2.0	1.0	750	$1,195	$1.59	13d	12	1.20mi
2614 W Tennessee St Tallahassee, FL	1.0–4.0	1.0–4.0	1270	$1,159	$0.91	21d	14	1.22mi
1854 Belle Vue Way Tallahassee, FL	2.0–4.0	1.0–2.0	1100	$1,235	$1.12	21d	1	1.23mi
2350 Wanda Way Tallahassee, FL	2.0–3.0	1.0	861	$1,200	$1.39	21d	1	1.24mi
2309 Old Bainbridge Rd Tallahassee, FL	1.0–2.0	1.0–2.0	798	$1,420	$1.78	13d	10	1.25mi
301 S Lipona Rd #24 Tallahassee, FL	2.0	1.5	896	$1,350	$1.51	21d	1	1.26mi
1818 Sylvan Ct Unit D Tallahassee, FL	2.0	1.0	850	$1,200	$1.41	13d	1	1.27mi
316 Ausley Rd Tallahassee, FL	1.0–4.0	1.0–2.0	750	$798	$1.06	13d	8	1.33mi
2401 Atlas Rd Unit B Tallahassee, FL	2.0	1.0	900	$1,100	$1.22	21d	1	1.33mi
1447 Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	890	$1,360	$1.53	21d	1	1.38mi
317 Mabry St Tallahassee, FL	2.0	1.0	808	$898	$1.11	21d	1	1.38mi
2412 Atlas Rd Tallahassee, FL	3.0	1.5	1081	$1,200	$1.11	21d	1	1.39mi
394 Prince St Unit 394-PRI Tallahassee, FL	1.0	1.0	600	$1,250	$2.08	21d	1	1.42mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $84,000 Active 98 DOM
2. 2026-06-17
   days on market $84,000 Active 97 DOM
3. 2026-06-16
   days on market $84,000 Active 96 DOM
4. 2026-06-15
   days on market $84,000 Active 95 DOM
5. 2026-06-14
   days on market $84,000 Active 93 DOM
6. 2026-06-10
   days on market $84,000 Active 90 DOM
7. 2026-06-09
   days on market $84,000 Active 89 DOM
8. 2026-06-08
   days on market $84,000 Active 88 DOM
9. 2026-06-07
   days on market $84,000 Active 87 DOM
10. 2026-06-05
    days on market $84,000 Active 84 DOM
11. 2026-06-03
    days on market $84,000 Active 83 DOM
12. 2026-06-02
    days on market $84,000 Active 82 DOM
13. 2026-06-01
    days on market $84,000 Active 81 DOM
14. 2026-05-31
    days on market $84,000 Active 80 DOM
15. 2026-05-30
    days on market $84,000 Active 79 DOM
16. 2026-03-12
    listed $84,900 Active
17. 2012-06-20
    soldstatus $30,000 455-char remark

    Show marketing remark (455 chars)

    Cute 2bed/1bath condo in good condition. Located in the quiet and conveniently located neighborhood of Chateau De Ville. Just a short drive to FSU, TCC, FAMU, shopping, entertainment and downtown Tallahassee. Features include tile floors in living area, bathroom and kitchen, a private patio perfect for grilling out, and large closets. Split floor plan with seperate living and dining rooms. There is also a very nice community pool with a large sundeck.

18. 2011-10-05
    listed $35,000 455-char remark

    Show marketing remark (455 chars)

    Cute 2bed/1bath condo in good condition. Located in the quiet and conveniently located neighborhood of Chateau De Ville. Just a short drive to FSU, TCC, FAMU, shopping, entertainment and downtown Tallahassee. Features include tile floors in living area, bathroom and kitchen, a private patio perfect for grilling out, and large closets. Split floor plan with seperate living and dining rooms. There is also a very nice community pool with a large sundeck.

19. 2010-07-29
    historical
20. 2010-01-28
    listed $89,900
21. 2006-11-08
    soldstatus $84,300
22. 2006-09-07
    listed $81,900

ⓘ 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: $1,307 · $109/mo
• Projected year-2 tax: $1,307 · $109/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 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: $15,198
• − Mortgage interest: −$4,705
• − Property taxes: −$1,307
• − Insurance: −$420
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − HOA: −$4,200
• − Depreciation: −$2,444
• Taxable loss: −$309
• Est. tax savings @ 24.0%: +$74
• After-tax cash flow: $868/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

+3.7% since first listed

7 events — show timeline

• 2026-03-12 Listed $84,900 CATRS
• 2012-06-20 Sold (MLS) $30,000 CATRS
• 2011-10-05 Listed $35,000 CATRS
• 2010-07-29 Listing Removed — CATRS
• 2010-01-28 Listed $89,900 CATRS
• 2006-11-08 Sold (MLS) $84,300 CATRS
• 2006-09-07 Listed $81,900 CATRS

Property tax history

+8.9%/yr

Latest (2025): $1,307 · +8.6% YoY. Source: county tax records.