2020 Continental Ave #135 · Tallahassee, FL 32304

$67,900

1 bd · 1.0 ba · 710 sqft · Condo public records · 60 Days on market

Built 1967 ↓ 1% since listing

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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 +22.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 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

FOR COMPS ONLY. SOLD RENOVATED.

Key facts

• Ample counter space
• Ground-floor
• Functional layout

Tags

• GROUND-FLOOR
• FUNCTIONAL LAYOUT
• DEDICATED DINING AREA
• AMPLE COUNTER SPACE
• FULL-SIZE WALK-IN CLOSET
• HIGHLY CONVENIENT LOCATION

Property features AI

Finance

• Other: Property is listed For Sale
• HOA & community: Association covers common areas, structure maintenance, pest control, and pool(s)

Exterior

• Parking: Parking space(s)
• Utilities: Public sewer
• Home design: Single-story; Brick construction; Slab foundation
• Construction: Brick exterior
• Exterior features: Community pool (in-ground); Sidewalks; Private maintained road (paved)

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator
• Bedrooms: Rooms include foyer, other, and pantry
• Flooring: Carpet; Plank; Tile; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Entrance foyer; Pantry; Walk-in closet(s)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $68k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $66k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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; 26 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).
• This rent runs 38% of the median local income ($32k/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 $469 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.7% rent growth), your $19k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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

• Watch-outs: HOA is 22% of rent.
• 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 $65,863 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% 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. 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 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: 1.53% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.49%
• DSCR: 1.33
• 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: -2.0%
• Equity multiple: 0.92×
• Total profit: $-1,490
• Equity at exit: $10,124

10-year hold

• IRR: 10.2%
• Equity multiple: 1.88×
• Total profit: $16,696
• Equity at exit: $5,871

Cash invested: $19,012 (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: $1,037 high
• Mortgage (P&I): −$356
• Tax from tax record: −$84 /mo · $1,009/yr
• Insurance: −$28
• HOA est. from 2 same-building comps: −$232
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $119

Break-even live

Break-even rent $887

Max offer price $67,900

Occupancy floor 84%

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: $16,975
• Closing costs: $2,037
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2020 Continental Ave Tallahassee, FL	1.0–2.0	1.0–1.5	850	$1,000	$1.18	21d	3	0.10mi
1303 Ocala Rd Tallahassee, FL	1.0–4.0	1.0–2.0	1121	$1,195	$1.07	13d	48	0.15mi
1109 Greentree Ct Tallahassee, FL	1.0	1.0	400	$485	$1.21	21d	1	0.28mi
1001 Ocala Rd Tallahassee, FL	4.0	1.0–2.0	899	$526	$0.59	21d	6	0.34mi
1380 Ocala Rd Tallahassee, FL	1.0	1.0	700	$975	$1.39	21d	1	0.34mi
1812 W Tharpe St Unit D Tallahassee, FL	1.0	1.0	650	$950	$1.46	21d	1	0.55mi
1410 Nylic St Unit B Tallahassee, FL	2.0	1.0	550	$900	$1.64	13d	1	0.68mi
810 Wadsworth St Tallahassee, FL	1.0	1.0	600	$1,123	$1.87	13d	2	0.71mi
1325 W Tharpe St Tallahassee, FL	1.0–3.0	1.0–4.0	937	$1,346	$1.44	13d	21	0.74mi
2349 Horne Ave Unit C Tallahassee, FL	2.0	1.0	680	$1,100	$1.62	13d	1	0.76mi
1329 Nylic ST , FL	1.0	1.0	516	$700	$1.36	21d	1	0.80mi
836 Richmond St Unit 10 Tallahassee, FL	1.0	1.0	540	$875	$1.62	13d	1	0.83mi
836 Richmond St Unit 10 Tallahassee, FL	1.0	1.0	540	$875	$1.62	21d	1	0.83mi
214 White Dr Unit F Tallahassee, FL	1.0	1.0	656	$1,200	$1.83	21d	1	1.03mi
205 White Dr Tallahassee, FL	1.0–4.0	1.0–4.0	1155	$479	$0.41	21d	1	1.04mi
218 White Dr Tallahassee, FL	1.0	1.0	660	$995	$1.51	21d	1	1.04mi
2616 Mission Rd Tallahassee, FL	1.0–2.0	1.0	750	$965	$1.29	13d	12	1.08mi
2614 W Tennessee St Tallahassee, FL	1.0–4.0	1.0–4.0	1270	$763	$0.60	21d	14	1.10mi
207 Lovelace Dr #5 Tallahassee, FL	1.0	1.0	480	$800	$1.67	21d	1	1.14mi
215 Lovelace Dr Unit 11 Tallahassee, FL	1.0	1.0	480	$800	$1.67	21d	1	1.17mi
2309 Old Bainbridge Rd Tallahassee, FL	1.0–2.0	1.0–2.0	798	$1,220	$1.53	13d	10	1.28mi
316 Ausley Rd Tallahassee, FL	1.0–4.0	1.0–2.0	750	$399	$0.53	13d	8	1.31mi
253 Hayden Rd Tallahassee, FL	1.0	1.0	495	$1,400	$2.83	13d	3	1.34mi
103 Cactus St Tallahassee, FL	2.0–4.0	1.0–2.0	1000	$1,195	$1.20	13d	3	1.41mi
1447 Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	890	$1,175	$1.32	21d	1	1.41mi
394 Prince St Unit 394-PRI Tallahassee, FL	1.0	1.0	600	$1,250	$2.08	21d	1	1.44mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-03-25
   historical
2. 2026-03-25
   listed $67,900 Active
3. 2026-01-14
   listed $69,900 Active
4. 2007-07-12
   soldstatus $68,900 31-char remark

   Show marketing remark (31 chars)

   FOR COMPS ONLY. SOLD RENOVATED.

5. 2007-04-13
   listed $68,900 31-char remark

   Show marketing remark (31 chars)

   FOR COMPS ONLY. SOLD RENOVATED.

6. 2007-04-13
   historical

   Show marketing remark (31 chars)

   FOR COMPS ONLY. SOLD RENOVATED.

7. 2007-04-12
   listed $68,900

ⓘ 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: $1,009 · $84/mo
• Projected year-2 tax: $1,009 · $84/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 · 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: $12,443
• − Mortgage interest: −$3,803
• − Property taxes: −$1,009
• − Insurance: −$340
• − Repairs & maintenance: −$995
• − Management: −$995
• − HOA: −$2,784
• − Depreciation: −$1,975
• Taxable income: $541
• Est. tax owed @ 24.0%: −$130
• After-tax cash flow: $1,295/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

-1.5% since first listed

7 events — show timeline

• 2026-03-25 Listed $67,900 CATRS
• 2026-03-25 Listing Removed — CATRS
• 2026-01-14 Listed $69,900 CATRS
• 2007-07-12 Sold (MLS) $68,900 CATRS
• 2007-04-13 Listing Removed — CATRS
• 2007-04-13 Listed $68,900 CATRS
• 2007-04-12 Listed $68,900 CATRS

Property tax history

+10.3%/yr

Latest (2025): $1,009 · +8.5% YoY. Source: county tax records.