2424 Jolene Ln · Tallahassee, FL 32303

$175,000

3 bd · 2.0 ba · 1,125 sqft · SingleFamily public records · 212 Days on market

Built 1984 7,840 sqft lot Est $209k · 16% under $13/mo HOA · 1% of rent ↓ 12% since listing

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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).

• ARV discount +14.9/15.0
• Cash flow +11.8/30.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• 1% rule +3.6/10.0
• DSCR +3.5/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Quaint Home ready and waiting for a new Family: This home is offered at an affordable price. The corner lot provides extra yard space and has easy access to public transportation. New owners will enjoy a NEW ROOF over their head with architectural shingles AND the comfort and peace of mind only a NEW HVAC system delivers. POPULAR FLOOR PLAN - Split layout offers a primary sleeping quarters with en suite bathroom on the left side of the home and 2 guest / children’s rooms on the right side with the Living areas centered cozily between the bedrooms. The front door opens to the Living room, that feels expansive and flows to the dining room which connects to the galley kitchen in the rear

Key facts

• Mature canopies
• Kitchen sink window
• New roof

Tags

• NEW ROOF
• NEW HVAC SYSTEM
• SPLIT LAYOUT
• KITCHEN SINK WINDOW
• WALKABLE NEIGHBORHOOD
• MATURE CANOPIES

Property features AI

Finance

• Other: Property listed for sale
• HOA & community: Association fee $150

Exterior

• Parking: Driveway; Off-street parking spaces
• Utilities: Electric heating and cooling
• Home design: Single-story; Wood siding; Crawlspace foundation
• Construction: Wood siding construction
• Exterior features: Patio; Paved road access; Lot dimensions 72 x 54 x 120 x 50

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator; Kitchen (7 x 7)
• Bedrooms: Bedroom 2 (11 x 10); Bedroom 3 (11 x 8)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Split bedrooms
• Laundry & utility: Utility room (13 x 11)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $-49 ($-588/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (14.1% below list).
• Recommended offer: $150k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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

• It's been on market 212 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

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 $150,241 (14.1% 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. It's been on market 212 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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 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: 0.86% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.20%
• DSCR: 0.95
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $209,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2253 Nannas Loop	0.12mi	3/2.0	1,080 (-4%)	5mo	$210,000	$194	84
2113 Bullocks Run Rd	0.33mi	3/2.0	1,182 (+5%)	3mo	$245,000	$207	74
1949 Rob Way	0.29mi	3/2.0	1,232 (+10%)	3mo	$235,000	$191	68
2318 Cumberland Dr	0.63mi	3/2.0	1,200 (+7%)	1mo	$245,000	$204	59
2018 Fannie Dr	0.58mi	3/1.0	1,189 (+6%)	1mo	$205,000	$172	59
2613 Faversham Dr	0.66mi	3/2.0	1,183 (+5%)	5mo	$220,000	$186	57
2540 W Tharpe St	0.65mi	3/1.0	1,104 (-2%)	8mo	$130,000	$118	56
2893 Duffton Loop	0.73mi	3/2.0	1,200 (+7%)	3mo	$253,000	$211	52
1828 Mayfair Rd	0.64mi	3/2.0	1,230 (+9%)	4mo	$206,500	$168	51
2747 Faringdon Dr	0.62mi	2/2.0 (-1)	1,056 (-6%)	8mo	$180,000	$170	49
1914 Fannie Dr	0.65mi	3/1.0	1,200 (+7%)	8mo	$190,000	$158	48
2008 Sheridan Rd	0.70mi	3/2.0	1,288 (+14%)	3mo	$209,900	$163	41

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: -18.1%
• Equity multiple: 0.36×
• Total profit: $-31,256
• Equity at exit: $26,093

10-year hold

• IRR: -10.1%
• Equity multiple: 0.38×
• Total profit: $-30,329
• 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: 9.7×

Monthly cashflow live

• Estimated rent: $1,502 high
• Mortgage (P&I): −$918
• Tax from tax record: −$232 /mo · $2,787/yr
• Insurance: −$73
• HOA: −$13
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $-49

Break-even live

Break-even rent $1,564

Max offer price $166,348

Occupancy floor 98%

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2403 Hartsfield Rd #602 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	21d	1	0.08mi
2403 Hartsfield Rd #602 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	14d	1	0.08mi
2406 Hartsfield Rd Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	21d	1	0.08mi
2350 Wanda Way Tallahassee, FL	2.0–3.0	1.0	861	$1,400	$1.63	21d	1	0.32mi
2419 Nugget Ln Tallahassee, FL	3.0	2.0	1212	$1,550	$1.28	14d	1	0.33mi
2498 Nugget Ln Tallahassee, FL	3.0	2.0	1200	$1,550	$1.29	21d	1	0.36mi
2412 Atlas Rd Tallahassee, FL	3.0	1.5	1081	$1,200	$1.11	21d	1	0.36mi
2401 Atlas Rd Unit B Tallahassee, FL	2.0	1.0	900	$1,100	$1.22	21d	1	0.39mi
2052 Darnell Cir Unit B Tallahassee, FL	4.0	3.0	1300	$1,700	$1.31	21d	1	0.40mi
2022 Trimble Rd Apt 3 Tallahassee, FL	3.0	3.0	1192	$700	$0.59	21d	1	0.52mi
2327 Parrot Ln Tallahassee, FL	3.0	2.0	1088	$1,300	$1.19	21d	1	0.60mi
2259 Parrot Ln Tallahassee, FL	2.0	2.0	992	$1,275	$1.29	21d	1	0.61mi
2660 Old Bainbridge Rd Tallahassee, FL	3.0	2.5	1196	$1,550	$1.30	21d	2	0.73mi
2626 Faversham Dr Tallahassee, FL	3.0	2.0	1440	$1,850	$1.28	14d	1	0.74mi
1560 San Luis Rd Tallahassee, FL	3.0	3.5	1500	$774	$0.52	21d	22	0.78mi
2222 Del Carmel Way Tallahassee, FL	3.0	3.0	1280	$1,650	$1.29	14d	1	0.84mi
1818 Sylvan Ct Unit D Tallahassee, FL	2.0	1.0	850	$1,200	$1.41	14d	1	0.85mi
2222 Del Carmel Way Unit 2226 Tallahassee, FL	3.0	3.0	1280	$1,650	$1.29	21d	1	0.85mi
2749 Pecan Rd Tallahassee, FL	1.0–2.0	1.0–2.0	900	$1,300	$1.44	14d	1	0.86mi
2281 Del Carmel Way Tallahassee, FL	3.0	3.0	1280	$1,599	$1.25	21d	1	0.88mi
2772 Westbrook Ct Tallahassee, FL	3.0	3.0	1325	$1,600	$1.21	14d	1	0.92mi
2677 Old Bainbridge Rd Tallahassee, FL	1.0–3.0	1.5–3.5	1395	$1,683	$1.21	14d	28	0.93mi
1600 Pullen Rd Tallahassee, FL	1.0–2.0	1.0–2.0	875	$1,345	$1.54	14d	1	0.98mi
2765 W Tharpe St Tallahassee, FL	1.0–2.0	1.0	739	$1,000	$1.35	14d	1	1.00mi
2520 Graves Rd #103 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	21d	1	1.05mi
1571 Stone Rd Unit 5B Tallahassee, FL	2.0	2.5	1216	$1,795	$1.48	21d	1	1.09mi
2616 Mission Rd Tallahassee, FL	1.0–2.0	1.0	750	$1,195	$1.59	14d	12	1.12mi
2309 Old Bainbridge Rd Tallahassee, FL	1.0–2.0	1.0–2.0	798	$1,420	$1.78	14d	10	1.14mi
1360 Ocala Rd Tallahassee, FL	2.0	1.0	800	$1,000	$1.25	21d	1	1.15mi
2400 Fred Smith Rd #201 Tallahassee, FL	3.0	3.0	1353	$1,650	$1.22	21d	1	1.17mi
2301 Old Bainbridge Rd Tallahassee, FL	2.0–3.0	1.0–2.0	1084	$1,600	$1.48	21d	1	1.20mi
1557 Devoe St Unit 2 Tallahassee, FL	2.0	1.0	750	$1,350	$1.80	21d	1	1.21mi
1350 Ocala Rd Unit C Tallahassee, FL	4.0	3.0	1142	$1,550	$1.36	21d	1	1.22mi
1447 Stone Rd Tallahassee, FL	1.0–3.0	1.0–2.0	890	$1,545	$1.74	21d	1	1.23mi
1303 Ocala Rd Tallahassee, FL	1.0–4.0	1.0–2.0	1121	$1,445	$1.29	14d	48	1.25mi
2614 W Tennessee St Tallahassee, FL	1.0–4.0	1.0–4.0	1270	$1,556	$1.22	21d	14	1.28mi
3875 Gaffney Loop Tallahassee, FL	2.0	2.0	984	$1,300	$1.32	21d	1	1.29mi
2060 Continental Ave Tallahassee, FL	1.0–3.0	1.0–2.5	1121	$1,185	$1.06	14d	26	1.36mi
2353 W Mission Rd Tallahassee, FL	2.0–3.0	2.0–2.5	1012	$1,450	$1.43	14d	11	1.37mi
1955 Bloomington Ave Tallahassee, FL	3.0	3.0	1177	$1,475	$1.25	21d	1	1.46mi

HOA detail

• Monthly dues: $13 · $156/yr

Listing history 18 events

1. 2026-06-18
   days on market $175,000 Active 212 DOM
2. 2026-06-17
   days on market $175,000 Active 211 DOM
3. 2026-06-16
   days on market $175,000 Active 210 DOM
4. 2026-06-15
   days on market $175,000 Active 209 DOM
5. 2026-06-14
   days on market $175,000 Active 207 DOM
6. 2026-06-10
   days on market $175,000 Active 204 DOM
7. 2026-06-09
   days on market $175,000 Active 203 DOM
8. 2026-06-08
   days on market $175,000 Active 202 DOM
9. 2026-06-07
   days on market $175,000 Active 201 DOM
10. 2026-06-05
    days on market $175,000 Active 198 DOM
11. 2026-06-03
    days on market $175,000 Active 197 DOM
12. 2026-06-02
    days on market $175,000 Active 196 DOM
13. 2026-06-01
    days on market $175,000 Active 195 DOM
14. 2026-05-31
    days on market $175,000 Active 194 DOM
15. 2026-05-30
    days on market $175,000 Active 193 DOM
16. 2026-05-07
    price $175,000
17. 2026-03-27
    price $185,000
18. 2025-11-18
    listed $200,000 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: $2,787 · $232/mo
• Projected year-2 tax: $2,787 · $232/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: $18,029
• − Mortgage interest: −$9,803
• − Property taxes: −$2,787
• − Insurance: −$875
• − Repairs & maintenance: −$1,442
• − Management: −$1,442
• − HOA: −$156
• − Depreciation: −$5,091
• Taxable loss: −$3,567
• Est. tax savings @ 24.0%: +$856
• After-tax cash flow: $268/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

-12.5% since first listed

3 events — show timeline

• 2026-05-07 Price Changed $175,000 CATRS
• 2026-03-27 Price Changed $185,000 CATRS
• 2025-11-18 Listed $200,000 CATRS

Property tax history

+6.1%/yr

Latest (2025): $2,787 · +7.9% YoY. Source: county tax records.