1312 Alabama St · Tallahassee, FL 32304

$59,900

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 139 Days on market

Built 1956 0.25 ac lot ↓ 7% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Great opportunity for a first-time buyer or investor on a generous lot in a convenient in-town location. Directly across the street, a new community grocery store is planned as part of the ongoing Griffin Heights neighborhood investment, adding long-term value and everyday convenience. Close to universities, restaurants, schools, and parks. A rare find in today’s market with strong potential. Cash only. Sold as-is with right to inspect.

Key facts

• Close to parks
• Close to restaurants
• Close to schools

Tags

• GENEROUS LOT
• GRIFFIN HEIGHTS NEIGHBORHOOD
• CLOSE TO UNIVERSITIES
• CLOSE TO RESTAURANTS
• CLOSE TO SCHOOLS
• CLOSE TO PARKS

Property features AI

Finance

• Financial info: Property is listed for sale

Exterior

• Parking: Driveway
• Home design: Single-story home
• Exterior features: Paved public road access

Interior

• Kitchen: Kitchen — 7 x 8
• Bedrooms: Bedroom 2 — 11 x 10
• Flooring: Carpet
• Bathrooms: 1 full bathroom
• Interior features: Carpet flooring; Additional unspecified interior feature

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $577 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.9% 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 fast (+4.7%/yr); 142 active listings in the ZIP; 34 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 45% 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 $414 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 $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 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 1956 — 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: 2.02% ✓
• Cap rate: 17.85%
• Cash-on-cash: 41.28%
• DSCR: 2.84
• GRM: 4.1

CMA / ARV

• ARV (on-the-fly): $125,184
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1124 Abraham St	0.20mi	2/1.0	758 (-1%)	23mo	$141,000	$186	70
1326 Volusia St	0.13mi	3/2.0 (+1)	836 (+9%)	17mo	$136,250	$163	56
1233 Volusia St	0.12mi	3/2.0 (+1)	868 (+13%)	15mo	$125,000	$144	51
658 W 5th Ave	0.69mi	2/1.0	825 (+7%)	21mo	$90,000	$109	38
812 W Georgia St	0.71mi	3/3.0 (+1)	788 (+3%)	18mo	$150,000	$190	34

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 · 4.69% rent growth · sell at horizon

5-year hold

• IRR: 39.7%
• Equity multiple: 2.74×
• Total profit: $29,132
• Equity at exit: $8,931

10-year hold

• IRR: 46.8%
• Equity multiple: 5.86×
• Total profit: $81,571
• Equity at exit: $5,179

Cash invested: $16,772 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,212 high
• Mortgage (P&I): −$314
• Tax from tax record: −$41 /mo · $493/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $577

Break-even live

Break-even rent $481

Max offer price $59,900

Occupancy floor 47%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1410 Nylic St Unit B Tallahassee, FL	2.0	1.0	550	$900	$1.64	13d	1	0.32mi
836 Richmond St Unit 10 Tallahassee, FL	1.0	1.0	540	$875	$1.62	21d	1	0.34mi
836 Richmond St Unit 10 Tallahassee, FL	1.0	1.0	540	$875	$1.62	13d	1	0.34mi
810 Wadsworth St Tallahassee, FL	1.0	1.0	600	$1,123	$1.87	13d	2	0.38mi
916 N Woodward Ave #1 Tallahassee, FL	2.0	1.0	794	$1,000	$1.26	13d	1	0.41mi
1325 W Tharpe St Tallahassee, FL	1.0–3.0	1.0–4.0	937	$1,511	$1.61	13d	21	0.45mi
1108 Greentree Ct Tallahassee, FL	2.0	2.0	888	$1,275	$1.44	21d	1	0.48mi
1111 High Rd Tallahassee, FL	2.0–3.0	2.0	1000	$1,409	$1.41	13d	11	0.53mi
2020 Continental Ave Tallahassee, FL	1.0–2.0	1.0–1.5	850	$1,300	$1.53	21d	3	0.62mi
1001 Ocala Rd Tallahassee, FL	4.0	1.0–2.0	899	$584	$0.65	21d	6	0.75mi
322 Conradi St Tallahassee, FL	3.0	2.0	1100	$1,950	$1.77	21d	4	0.76mi
2060 Continental Ave Tallahassee, FL	1.0–3.0	1.0–2.5	1121	$1,052	$0.94	13d	26	0.77mi
1303 Ocala Rd Tallahassee, FL	1.0–4.0	1.0–2.0	1121	$1,320	$1.18	13d	48	0.81mi
1360 Ocala Rd Tallahassee, FL	2.0	1.0	800	$1,000	$1.25	21d	1	0.89mi
1812 W Tharpe St Unit D Tallahassee, FL	1.0	1.0	650	$950	$1.46	21d	1	0.94mi
1380 Ocala Rd Tallahassee, FL	1.0	1.0	700	$975	$1.39	21d	1	0.99mi
1916 Nannette Dr Unit 1916 Tallahassee, FL	2.0	1.0	1000	$1,100	$1.10	13d	1	1.04mi
1935 Dawsey St Unit 1935-2 Tallahassee, FL	2.0	1.0	875	$975	$1.11	13d	1	1.12mi
412 W Brevard St Unit 412 Tallahassee, FL	3.0	2.0	900	$800	$0.89	21d	1	1.18mi
2301 Old Bainbridge Rd Tallahassee, FL	2.0–3.0	1.0–2.0	1084	$1,200	$1.11	21d	1	1.18mi
718 N Bronough St Tallahassee, FL	2.0	1.0	798	$1,100	$1.38	21d	1	1.24mi
220 Atkinson Dr Unit D Tallahassee, FL	2.0	1.0	928	$1,100	$1.19	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	1.28mi
120 W 4th Ave Unit 1/2 Tallahassee, FL	1.0	1.0	672	$1,300	$1.93	21d	1	1.28mi
1854 Belle Vue Way Tallahassee, FL	2.0–4.0	1.0–2.0	1100	$1,235	$1.12	21d	1	1.35mi
1447 Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	890	$1,360	$1.53	21d	1	1.37mi
2350 Horne Ave Unit 2 Tallahassee, FL	2.0	2.0	800	$995	$1.24	21d	1	1.39mi
2349 Horne Ave Unit C Tallahassee, FL	2.0	1.0	680	$1,100	$1.62	13d	1	1.40mi
301 S Lipona Rd #24 Tallahassee, FL	2.0	1.5	896	$1,350	$1.51	21d	1	1.40mi
2353 W Mission Rd Tallahassee, FL	2.0–3.0	2.0–2.5	1012	$1,250	$1.23	13d	11	1.41mi
1210 Stone Rd Tallahassee, FL	2.0	2.0	1008	$1,200	$1.19	21d	1	1.41mi
1818 Sylvan Ct Unit D Tallahassee, FL	2.0	1.0	850	$1,200	$1.41	13d	1	1.43mi
394 Prince St Unit 394-PRI Tallahassee, FL	1.0	1.0	600	$1,250	$2.08	21d	1	1.45mi
833 W Gaines St Tallahassee, FL	2.0	2.0	1080	$2,350	$2.18	13d	2	1.47mi

Listing history 17 events

1. 2026-06-18
   pricedays on market $59,900 Active 139 DOM
2. 2026-06-17
   days on market $65,000 Active 138 DOM
3. 2026-06-16
   days on market $65,000 Active 137 DOM
4. 2026-06-15
   days on market $65,000 Active 136 DOM
5. 2026-06-14
   days on market $65,000 Active 134 DOM
6. 2026-06-10
   days on market $65,000 Active 131 DOM
7. 2026-06-09
   days on market $65,000 Active 130 DOM
8. 2026-06-08
   days on market $65,000 Active 129 DOM
9. 2026-06-07
   days on market $65,000 Active 128 DOM
10. 2026-06-05
    days on market $65,000 Active 125 DOM
11. 2026-06-03
    days on market $65,000 Active 124 DOM
12. 2026-06-02
    days on market $65,000 Active 123 DOM
13. 2026-06-01
    days on market $65,000 Active 122 DOM
14. 2026-05-31
    days on market $65,000 Active 121 DOM
15. 2026-05-30
    days on market $65,000 Active 120 DOM
16. 2026-05-03
    price $65,000
17. 2026-01-30
    listed $69,900 Active

ⓘ 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: $493 · $41/mo
• Projected year-2 tax: $497 · $41/mo
• Expected delta: +$4/yr ($0/mo · 0.8%)

ⓘ 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: $14,538
• − Mortgage interest: −$3,355
• − Property taxes: −$493
• − Insurance: −$300
• − Repairs & maintenance: −$1,163
• − Management: −$1,163
• − Depreciation: −$1,743
• Taxable income: $6,322
• Est. tax owed @ 24.0%: −$1,517
• After-tax cash flow: $5,406/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

-7.0% since first listed

2 events — show timeline

• 2026-05-03 Price Changed $65,000 CATRS
• 2026-01-30 Listed $69,900 CATRS

Property tax history

+33.8%/yr

Latest (2025): $493 · +1.5% YoY. Source: county tax records.