1960 Bloomington Ave #1960 · Tallahassee, FL 32304

$175,000

3 bd · 3.0 ba · 1,177 sqft · Condo · 199 Days on market

Built 2011 $150/mo HOA · 9% of rent

---

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 +9.9/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• 1% rule +4.0/10.0
• Rent growth +3.7/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

For comp purposes only

Key facts

• Open living area
• Back patio
• Ample storage

Tags

• OPEN LIVING AREA
• WELL-APPOINTED KITCHEN
• PRIVATE BEDROOM SUITES
• BACK PATIO
• AMPLE STORAGE
• PRIVATE OUTDOOR SPACE

Property features AI

Finance

• HOA & community: Association fee: $1,800 (includes common areas, structure maintenance, and pool(s)); Community features include curbs, gated entry, gutters, street lights, and sidewalks

Exterior

• Parking: Driveway
• Security: Owned security system; Gated community
• Utilities: Electric heating and cooling
• Home design: Gated community
• Construction: Vinyl siding
• Exterior features: Community pool; Public maintained road; Curbs; Gutter(s); Street lights; Sidewalks

Interior

• Kitchen: Dishwasher; Disposal; Icemaker; Microwave; Oven; Refrigerator
• Bedrooms: Bedroom 2 (12 x 11); Bedroom 3 (13 x 11)
• Flooring: Carpet
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: High ceilings; Primary bedroom on the downstairs level; Walk-in closet(s)
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $158k (9.6% below list).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.5% 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; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• At $1,582/mo this rent would consume 59% of the median local household income ($32k/yr) (locally 6995% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 199 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y 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.
• Current owner paid $104k; list at $175k implies a 69% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,000 (12.0% 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 199 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.90% ✗
• Cap rate: 5.54%
• Cash-on-cash: -2.67%
• DSCR: 0.88
• GRM: 9.2

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: -18.5%
• Equity multiple: 0.34×
• Total profit: $-32,461
• Equity at exit: $26,093

10-year hold

• IRR: -7.5%
• Equity multiple: 0.49×
• Total profit: $-25,130
• 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 32304

• Home prices YoY: -21.2%
• Rents YoY: 4.7%
• Active inventory: 142
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,582 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$150
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $-109

Break-even live

Break-even rent $1,721

Max offer price $159,197

Occupancy floor —

Sensitivity live

Price	-10% $12	-5% $-49	+0% $-109	+5% $-170	+10% $-230
Rent	-10% $-234	-5% $-172	+0% $-109	+5% $-47	+10% $16
Rate	-1.0pp $-21	-0.5pp $-65	base $-109	+0.5pp $-155	+1.0pp $-201

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 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1955 Bloomington Ave Tallahassee, FL	3.0	3.0	1177	$1,475	$1.25	21d	1	0.04mi
1925 Durham Ave Tallahassee, FL	3.0	3.0	1177	$1,800	$1.53	21d	1	0.05mi
1870 Honolulu Ln Tallahassee, FL	3.0	3.0	1230	$1,450	$1.18	21d	1	0.09mi
1557 Devoe St Unit 2 Tallahassee, FL	2.0	1.0	750	$1,350	$1.80	21d	1	0.30mi
2765 W Tharpe St Tallahassee, FL	1.0–2.0	1.0	739	$1,000	$1.35	14d	1	0.50mi
2772 Westbrook Ct Tallahassee, FL	3.0	3.0	1325	$1,600	$1.21	14d	1	0.63mi
2749 Pecan Rd Tallahassee, FL	1.0–2.0	1.0–2.0	900	$1,300	$1.44	14d	1	0.67mi
770 Appleyard Dr Tallahassee, FL	2.0	2.5	1150	$1,442	$1.25	14d	14	0.79mi
2222 Del Carmel Way Unit 2226 Tallahassee, FL	3.0	3.0	1280	$1,650	$1.29	21d	1	0.87mi
2222 Del Carmel Way Tallahassee, FL	3.0	3.0	1280	$1,650	$1.29	14d	1	0.88mi
2281 Del Carmel Way Tallahassee, FL	3.0	3.0	1280	$1,599	$1.25	21d	1	0.91mi
2616 Mission Rd Tallahassee, FL	1.0–2.0	1.0	750	$1,195	$1.59	14d	12	0.98mi
2022 Trimble Rd Apt 3 Tallahassee, FL	3.0	3.0	1192	$700	$0.59	21d	1	0.98mi
2614 W Tennessee St Tallahassee, FL	1.0–4.0	1.0–4.0	1270	$1,556	$1.22	21d	14	1.02mi
850 Capital Walk Dr Tallahassee, FL	1.0–3.0	1.0–2.0	1152	$1,599	$1.39	14d	21	1.23mi
2327 Parrot Ln Tallahassee, FL	3.0	2.0	1088	$1,300	$1.19	21d	1	1.30mi
2259 Parrot Ln Tallahassee, FL	2.0	2.0	992	$1,275	$1.29	21d	1	1.33mi
2353 W Mission Rd Tallahassee, FL	2.0–3.0	2.0–2.5	1012	$1,450	$1.43	14d	11	1.45mi

HOA detail condo

• Monthly dues: $150 · $1,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $175,000 Active 199 DOM
2. 2026-06-17
   days on market $175,000 Active 198 DOM
3. 2026-06-16
   days on market $175,000 Active 197 DOM
4. 2026-06-15
   days on market $175,000 Active 196 DOM
5. 2026-06-14
   days on market $175,000 Active 194 DOM
6. 2026-06-10
   days on market $175,000 Active 191 DOM
7. 2026-06-09
   days on market $175,000 Active 190 DOM
8. 2026-06-08
   days on market $175,000 Active 189 DOM
9. 2026-06-07
   days on market $175,000 Active 188 DOM
10. 2026-06-05
    days on market $175,000 Active 185 DOM
11. 2026-06-03
    days on market $175,000 Active 184 DOM
12. 2026-06-02
    days on market $175,000 Active 183 DOM
13. 2026-06-01
    days on market $175,000 Active 182 DOM
14. 2026-05-31
    days on market $175,000 Active 181 DOM
15. 2026-05-30
    days on market $175,000 Active 180 DOM
16. 2025-12-01
    listed $175,000 Active
17. 2015-12-18
    soldstatus $103,600 22-char remark

    Show marketing remark (22 chars)

    For comp purposes only

18. 2015-12-01
    listed $109,900 22-char remark

    Show marketing remark (22 chars)

    For comp purposes only

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 22 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: $18,990
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,519
• − Management: −$1,519
• − HOA: −$1,800
• − Depreciation: −$5,091
• Taxable loss: −$4,242
• Est. tax savings @ 24.0%: +$1,018
• After-tax cash flow: $-292/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

+59.2% since first listed

3 events — show timeline

• 2025-12-01 Listed $175,000 CATRS
• 2015-12-18 Sold (MLS) $103,600 CATRS
• 2015-12-01 Listed $109,900 CATRS