2860 N Gulfwind Dr · Tallahassee, FL 32303

$175,000

2 bd · 2.0 ba · 1,002 sqft · Townhouse public records · 13 Days on market

Built 1995 2,613 sqft lot Est $174k · at est. $22/mo HOA · 1% of rent

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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 +11.5/30.0
• ARV discount +7.3/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• 1% rule +3.4/10.0
• DSCR +3.4/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is the one you’ve been waiting for. Welcome to a meticulously maintained 2-bedroom, 2-bath home with a smart split floor plan designed for both privacy and effortless living. From the moment you step inside, you’ll notice the luxury vinyl plank flooring throughout, offering a clean, modern look that’s as durable as it is stylish. The spacious primary suite is a true retreat, complete with a walk-in closet and private en-suite bath, while the second bedroom and bath provide flexibility for guests, a home office, or everyday living. The kitchen is both functional and inviting, featuring ample cabinet storage, stainless steel appliances, and updated countertops, perfect

Key facts

• $22 HOA
• Parking
• Built 1995

Property features AI

Finance

• HOA & community: Association fee $263 (includes common areas and street lights)

Exterior

• Parking: Driveway
• Security: Leased security system
• Home design: Single-story home
• Construction: Vinyl siding
• Exterior features: Paved road access; Lot dimensions approximately 27 x 97 x 27 x 97

Interior

• Kitchen: Dishwasher; Icemaker; Oven; Range; Refrigerator
• Bedrooms: Bedroom 2: 12 x 12
• Flooring: Plank flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Interior features: Split bedroom floorplan; Fireplace
• Laundry & utility: Utility room (13 x 12)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $175k.

Deal economics

• At list price, monthly cash flow is $-56 ($-675/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (16.2% below list).
• Recommended offer: $147k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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 (+3.1%/yr); 238 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 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.

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 $146,690 (16.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.84% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.38%
• DSCR: 0.94
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $174,348
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2884 W Gulfwind Dr	0.04mi	2/2.0	1,040 (+4%)	4mo	$190,200	$183	88
1956 Carp Ln	0.09mi	2/2.0	990 (-1%)	7mo	$144,000	$145	88
2843 Sunvalley Ct	0.07mi	2/2.0	1,040 (+4%)	4mo	$179,500	$173	87
2726 Via Milano Ave Unit A	0.36mi	2/2.0	1,008 (+1%)	4mo	$179,000	$178	79
4027 Catawba St Unit B	0.51mi	2/2.0	1,008 (+1%)	4mo	$145,000	$144	71
4013 Catawba St Unit B	0.52mi	2/2.0	1,008 (+1%)	5mo	$169,900	$169	71
2711 Via Milano Ave Unit A	0.45mi	2/2.0	960 (-4%)	2mo	$170,000	$177	70
2706 Via Milano Ave Unit A	0.50mi	2/2.0	1,008 (+1%)	8mo	$175,000	$174	69
2331 Via Sardinia St	0.55mi	2/2.0	1,008 (+1%)	6mo	$168,000	$167	69
2720 Via Milano Unit B	0.40mi	2/2.0	964 (-4%)	8mo	$171,000	$177	68
2018 Pecan Ct	0.68mi	2/2.0	988 (-1%)	2mo	$165,000	$167	64
3092 Huntington Woods Blvd	0.71mi	3/2.0 (+1)	1,061 (+6%)	10mo	$212,500	$200	44

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 · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -18.4%
• Equity multiple: 0.35×
• Total profit: $-31,738
• Equity at exit: $26,093

10-year hold

• IRR: -10.5%
• Equity multiple: 0.36×
• Total profit: $-31,417
• 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 32303

• Rents YoY: 3.1%
• Active inventory: 238
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,467 high
• Mortgage (P&I): −$918
• Tax from tax record: −$202 /mo · $2,430/yr
• Insurance: −$73
• HOA: −$22
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $-56

Break-even live

Break-even rent $1,538

Max offer price $165,062

Occupancy floor 99%

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 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2281 Del Carmel Way Tallahassee, FL	3.0	3.0	1280	$1,599	$1.25	21d	1	0.25mi
2222 Del Carmel Way Unit 2226 Tallahassee, FL	3.0	3.0	1280	$1,650	$1.29	21d	1	0.31mi
2222 Del Carmel Way Tallahassee, FL	3.0	3.0	1280	$1,650	$1.29	13d	1	0.32mi
2772 Westbrook Ct Tallahassee, FL	3.0	3.0	1325	$1,600	$1.21	13d	1	0.56mi
2749 Pecan Rd Tallahassee, FL	1.0–2.0	1.0–2.0	900	$1,300	$1.44	13d	1	0.58mi
3244 Sugar Berry Way Tallahassee, FL	1.0	1.0	1338	$725	$0.54	21d	1	0.71mi
3875 Gaffney Loop Tallahassee, FL	2.0	2.0	984	$1,300	$1.32	21d	1	0.72mi
3249 Sawtooth Dr Tallahassee, FL	1.0	1.0	1338	$725	$0.54	21d	1	0.75mi
3249 Sawtooth Dr Unit 3249 Tallahassee, FL	1.0	1.0	1338	$650	$0.49	21d	1	0.75mi
2022 Trimble Rd Apt 3 Tallahassee, FL	3.0	3.0	1192	$700	$0.59	21d	1	0.76mi
2765 W Tharpe St Tallahassee, FL	1.0–2.0	1.0	739	$1,000	$1.35	13d	1	0.79mi
3348 Sugar Berry Way #1 Tallahassee, FL	3.0	3.0	1338	$1,500	$1.12	21d	1	0.83mi
2626 Faversham Dr Tallahassee, FL	3.0	2.0	1440	$1,850	$1.28	13d	1	0.87mi
1557 Devoe St Unit 2 Tallahassee, FL	2.0	1.0	750	$1,350	$1.80	21d	1	0.93mi
1955 Bloomington Ave Tallahassee, FL	3.0	3.0	1177	$1,475	$1.25	21d	1	1.04mi
2406 Hartsfield Rd Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	21d	1	1.09mi
1925 Durham Ave Tallahassee, FL	3.0	3.0	1177	$1,800	$1.53	21d	1	1.11mi
2403 Hartsfield Rd #602 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	21d	1	1.11mi
2403 Hartsfield Rd #602 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	13d	1	1.11mi
850 Capital Walk Dr Tallahassee, FL	1.0–3.0	1.0–2.0	1152	$1,442	$1.25	13d	21	1.14mi
1870 Honolulu Ln Tallahassee, FL	3.0	3.0	1230	$1,450	$1.18	21d	1	1.14mi
2498 Nugget Ln Tallahassee, FL	3.0	2.0	1200	$1,550	$1.29	21d	1	1.30mi
2327 Parrot Ln Tallahassee, FL	3.0	2.0	1088	$1,300	$1.19	21d	1	1.31mi
2419 Nugget Ln Tallahassee, FL	3.0	2.0	1212	$1,550	$1.28	13d	1	1.33mi
2259 Parrot Ln Tallahassee, FL	2.0	2.0	992	$1,275	$1.29	21d	1	1.34mi
2350 Wanda Way Tallahassee, FL	2.0–3.0	1.0	861	$1,200	$1.39	21d	1	1.35mi
2412 Atlas Rd Tallahassee, FL	3.0	1.5	1081	$1,200	$1.11	21d	1	1.37mi
2401 Atlas Rd Unit B Tallahassee, FL	2.0	1.0	900	$1,100	$1.22	21d	1	1.40mi
2616 Mission Rd Tallahassee, FL	1.0–2.0	1.0	750	$1,195	$1.59	13d	12	1.47mi

HOA detail

• Monthly dues: $22 · $264/yr

Listing history 28 events

1. 2026-06-18
   pricedays on market $175,000 Active 13 DOM
2. 2026-06-17
   days on market $180,000 Active 12 DOM
3. 2026-06-16
   days on market $180,000 Active 11 DOM
4. 2026-06-15
   days on market $180,000 Active 10 DOM
5. 2026-06-14
   days on market $180,000 Active 8 DOM
6. 2026-06-10
   days on market $180,000 Active 5 DOM
7. 2026-06-09
   days on market $180,000 Active 4 DOM
8. 2026-06-08
   days on market $180,000 Active 3 DOM
9. 2026-06-07
   pricedays on marketlisting id $180,000 Active 2 DOM
10. 2026-06-01
    days on market $173,000 Active 72 DOM
11. 2026-05-31
    days on market $173,000 Active 71 DOM
12. 2026-05-30
    days on market $173,000 Active 70 DOM
13. 2026-03-21
    historical
14. 2026-03-21
    listed $173,000 Active
15. 2026-01-04
    listed $178,000 Active
16. 2026-01-04
    historical
17. 2025-10-06
    listed $178,000 Active
18. 2025-10-06
    historical
19. 2025-05-18
    listed $178,000 Active
20. 2024-09-03
    historical
21. 2024-07-13
    status Active
22. 2024-06-02
    historical Active Under Contract
23. 2024-05-22
    listed $175,000 Active
24. 2022-06-17
    soldstatus $155,000 Closed
25. 2022-05-08
    historical Active Under Contract
26. 2022-05-05
    listed $150,000 Active
27. 2008-08-05
    soldstatus $102,000
28. 2005-02-01
    soldstatus $95,500

ⓘ 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: $2,430 · $202/mo
• Projected year-2 tax: $2,430 · $202/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 · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,603
• − Mortgage interest: −$9,803
• − Property taxes: −$2,430
• − Insurance: −$875
• − Repairs & maintenance: −$1,408
• − Management: −$1,408
• − HOA: −$264
• − Depreciation: −$5,091
• Taxable loss: −$3,676
• Est. tax savings @ 24.0%: +$882
• After-tax cash flow: $207/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): 49,785
• Household income: $62,275
• Rent vs Own: 48.8% rent · 51.2% own
• Severe rent burden: 2919.0

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 0.63)
• Race & ethnicity: White 50% Black 34% Hispanic / Latino 8% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 2%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 89% English-only · Spanish 5% Arabic 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: ▼ -255.24%
• Current HPI: 241.3131
• Rent YoY: ▲ 3.12%
• 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

+81.2% since first listed

16 events — show timeline

• 2026-03-21 Listed $173,000 CATRS
• 2026-03-21 Listing Removed — CATRS
• 2026-01-04 Listing Removed — CATRS
• 2026-01-04 Listed $178,000 CATRS
• 2025-10-06 Listing Removed — CATRS
• 2025-10-06 Listed $178,000 CATRS
• 2025-05-18 Listed $178,000 CATRS
• 2024-09-03 Listing Removed — CATRS
• 2024-07-13 Relisted — CATRS
• 2024-06-02 Contingent — CATRS
• 2024-05-22 Listed $175,000 CATRS
• 2022-06-17 Sold (MLS) $155,000 CATRS
• 2022-05-08 Contingent — CATRS
• 2022-05-05 Listed $150,000 CATRS
• 2008-08-05 Sold (Public Records) $102,000 Public Records
• 2005-02-01 Sold (Public Records) $95,500 Public Records

Property tax history

+15.0%/yr

Latest (2025): $2,430 · +10.5% YoY. Source: county tax records.