4117 Wiggington Rd · Tallahassee, FL 32303

$187,000

3 bd · 1.0 ba · 1,300 sqft · SingleFamily public records · 205 Days on market

Built 1972 6,969 sqft lot Est $233k · 20% 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).

• Cash flow +20.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.6/10.0
• 1% rule +5.5/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

TENANT OCCUPIED! Ranch-style 3BR/1BA home featuring newer windows, tile bathroom, and French doors leading to the backyard. Roof replaced in 2015. HVAC 2009. Conveniently located near shopping and dining. Property is tenant-occupied; ideal for investors or first-time home buyers.

Key facts

• Hvac
• French doors
• Backyard

Tags

• NEWER WINDOWS
• TILE BATHROOM
• FRENCH DOORS
• BACKYARD
• ROOF REPLACED
• HVAC

Property features AI

Finance

• Financial info: For sale
• HOA & community: Curbs; Gutter(s); Street lights

Exterior

• Parking: Driveway; Garage
• Utilities: Public sewer; Public maintained paved road
• Home design: Single-story; Brick and wood siding construction
• Construction: Crawlspace foundation
• Exterior features: Fully fenced yard; Deck; Patio; Fenced

Interior

• Kitchen: Dishwasher; Icemaker; Microwave; Oven; Range; Refrigerator; Pantry
• Bedrooms: Bedroom 2 (12x11); Bedroom 3 (10x9)
• Flooring: Laminate; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Electric heating; Heat pump; Central air; Ceiling fan(s); Wall/window unit(s); Electric cooling
• Interior features: Stall shower; Window treatments; Pantry; Walk-in closet(s)
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $187k.

Deal economics

• At list price, monthly cash flow is $257 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $187k).
• Recommended offer: $165k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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; 4 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).
• This rent runs 38% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 20y ago; this cycle's ask has dropped $13k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $164,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.05% ✓
• Cap rate: 7.94%
• Cash-on-cash: 5.89%
• DSCR: 1.26
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $232,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2815 Nepal Dr	0.07mi	3/1.0	1,300 (0%)	8mo	$200,000	$154	90
2812 Nepal Dr	0.09mi	3/1.0	1,356 (+4%)	2mo	$154,000	$114	87
4008 Cornish Dr	0.13mi	3/2.0	1,238 (-5%)	6mo	$239,000	$193	77
3839 Wiggington Rd	0.32mi	3/1.5	1,244 (-4%)	9mo	$184,000	$148	69
2032 Harriet Dr	0.56mi	3/2.0	1,288 (-1%)	7mo	$236,000	$183	62
2105 Harriet Dr	0.62mi	3/2.0	1,371 (+6%)	6mo	$230,000	$168	53
2610 Hastings Dr	0.69mi	3/2.0	1,372 (+6%)	3mo	$245,000	$179	52
2034 Harriet Dr	0.57mi	3/2.0	1,192 (-8%)	7mo	$215,000	$180	50
1905 Faulk Dr	0.73mi	3/2.0	1,356 (+4%)	9mo	$256,000	$189	48
1844 Copper Axe	0.64mi	3/2.0	1,492 (+15%)	1mo	$245,000	$164	40
1914 Longview Dr	0.67mi	3/2.0	1,486 (+14%)	3mo	$283,000	$190	38
1933 Faulk Dr	0.66mi	2/1.5 (-1)	1,109 (-15%)	11mo	$181,500	$164	29

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: -7.1%
• Equity multiple: 0.74×
• Total profit: $-13,670
• Equity at exit: $27,882

10-year hold

• IRR: 2.7%
• Equity multiple: 1.20×
• Total profit: $10,279
• Equity at exit: $16,168

Cash invested: $52,360 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,969 medium
• Mortgage (P&I): −$981
• Tax from tax record: −$240 /mo · $2,879/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $257

Break-even live

Break-even rent $1,644

Max offer price $187,000

Occupancy floor 82%

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: $46,750
• Closing costs: $5,610
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3380 Fred George Rd Tallahassee, FL	1.0–3.0	1.0–2.0	895	$1,700	$1.90	13d	9	0.83mi
3400 Old Bainbridge Rd #203 Tallahassee, FL	3.0	3.0	1368	$1,650	$1.21	21d	1	1.02mi
1729 Ray Rd Tallahassee, FL	3.0	1.0	1611	$3,400	$2.11	21d	1	1.38mi
4234 Augustus Oak Ct Unit 4234 Tallahassee, FL	3.0	3.5	1504	$1,600	$1.06	21d	1	1.44mi

Listing history 28 events

1. 2026-05-31
   days on market $187,000 Active 205 DOM
2. 2026-05-30
   days on market $187,000 Active 204 DOM
3. 2026-04-28
   price $187,000
4. 2026-04-17
   price $190,000
5. 2026-02-26
   price $194,999
6. 2025-11-07
   listed $199,999 Active
7. 2025-10-31
   historical
8. 2025-09-03
   historical $2,000
9. 2025-08-31
   listed $2,000
10. 2025-08-25
    price $199,999
11. 2025-08-21
    price $204,000
12. 2025-08-16
    listed $214,987 Active
13. 2025-08-15
    historical
14. 2025-08-09
    historical $2,000
15. 2025-08-01
    listed $214,987
16. 2025-07-30
    historical
17. 2025-07-27
    price $2,000
18. 2025-07-25
    listed $224,987 Active
19. 2025-07-08
    listed $2,200
20. 2022-10-12
    soldstatus $171,428
21. 2015-04-14
    soldstatus $103,500
22. 2015-04-10
    soldstatus $103,500
23. 2014-10-08
    listed $99,000
24. 2008-09-07
    historical
25. 2008-06-07
    listed $124,900
26. 2007-02-06
    soldstatus $122,000
27. 2007-02-01
    soldstatus $122,000
28. 2006-12-04
    listed $125,900

ⓘ 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: $2,879 · $240/mo
• Projected year-2 tax: $2,879 · $240/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 6/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $23,626
• − Mortgage interest: −$10,475
• − Property taxes: −$2,879
• − Insurance: −$935
• − Repairs & maintenance: −$1,890
• − Management: −$1,890
• − Depreciation: −$5,440
• Taxable income: $117
• Est. tax owed @ 24.0%: −$28
• After-tax cash flow: $3,055/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

• 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

+48.5% since first listed

26 events — show timeline

• 2026-04-28 Price Changed $187,000 CATRS
• 2026-04-17 Price Changed $190,000 CATRS
• 2026-02-26 Price Changed $194,999 CATRS
• 2025-11-07 Listed $199,999 CATRS
• 2025-10-31 Listing Removed — CATRS
• 2025-09-03 Rental Removed $2,000 Avail
• 2025-08-31 Listed for Rent $2,000 Avail
• 2025-08-25 Price Changed $199,999 CATRS
• 2025-08-21 Price Changed $204,000 CATRS
• 2025-08-16 Listed $214,987 CATRS
• 2025-08-15 Listing Removed — CATRS
• 2025-08-09 Rental Removed $2,000 Avail
• 2025-08-01 Listed $214,987 CATRS
• 2025-07-30 Listing Removed — realMLS
• 2025-07-27 Price Changed $2,000 Avail
• 2025-07-25 Listed $224,987 realMLS
• 2025-07-08 Listed for Rent $2,200 Avail
• 2022-10-12 Sold (Public Records) $171,428 Public Records
• 2015-04-14 Sold (Public Records) $103,500 Public Records
• 2015-04-10 Sold (MLS) $103,500 CATRS
• 2014-10-08 Listed $99,000 CATRS
• 2008-09-07 Listing Removed — CATRS
• 2008-06-07 Listed $124,900 CATRS
• 2007-02-06 Sold (Public Records) $122,000 Public Records
• 2007-02-01 Sold (MLS) $122,000 CATRS
• 2006-12-04 Listed $125,900 CATRS

Property tax history

+15.1%/yr

Latest (2025): $2,879 · +12.1% YoY. Source: county tax records.