2414 Quazar Cir · Tallahassee, FL 32311

$212,000

3 bd · 2.0 ba · 1,173 sqft · Townhouse public records · 149 Days on market

Built 2006 Est $217k · at est.

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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).

• Cash flow +16.8/30.0
• ARV discount +8.5/15.0
• DSCR +5.2/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• 1% rule +4.2/10.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3 Bedroom 2 Bath townhouse is a great investment property or for the 1st time home buyer. It will go quickly so see it soon! It is currently rented until February. Please give the tenant a 48 hours notice for showing. Currently leased at $850 a month, tenant has been there 5 years and would prefer to stay, but can move with 30 day notice. This great townhouse has quick access to Tom Brown Park, Governor's Square mall along with many of Tallahassee's beautiful areas. Really great floor plan with large great room! Please use ShowingTime.

Key facts

• Split floor plan
• Centrally located
• Quiet backyard

Tags

• THREE AVAILABLE UNITS
• QUIET BACKYARD
• SPLIT FLOOR PLAN
• ESTABLISHED NEIGHBORHOOD
• CENTRALLY LOCATED

Property features AI

Finance

• Other: Mobile dimensions listed in feet
• HOA & community: Homeowners association present; Property has a land lease

Exterior

• Utilities: Public sewer
• Home design: Single-family residential zoning
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Patio (covered); Porch; Rain gutters; Located on a cul-de-sac; City street frontage; Publicly maintained road

Interior

• Kitchen: Electric range
• Bedrooms: Primary bedroom on the first floor
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Total of 3 rooms; All room measurements are approximate

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $212k.

Deal economics

• At list price, monthly cash flow is $137 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (7.8% below list).
• Recommended offer: $187k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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 (+5.5%/yr); 117 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 $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 149 days — a 12% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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 $122k; list at $212k implies a 74% 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→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 149 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.92% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.78%
• DSCR: 1.12
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $217,005
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1723 Quazar Rd	0.02mi	3/2.0	1,159 (-1%)	8mo	$208,000	$179	90
1494 Twin Lakes Cir	0.42mi	2/2.0 (-1)	1,152 (-2%)	5mo	$215,000	$187	68
1556 Twin Lakes Cir	0.56mi	2/1.5 (-1)	1,096 (-7%)	4mo	$145,000	$132	53
1560 Twin Lakes Cir	0.57mi	2/1.5 (-1)	1,096 (-7%)	4mo	$83,000	$76	52
1548 Twin Lakes Cir	0.56mi	2/1.5 (-1)	1,096 (-7%)	6mo	$174,000	$159	51
1218 Brafforton Dr	0.43mi	2/2.0 (-1)	1,008 (-14%)	3mo	$215,000	$213	49
3905 Paces Pl	0.56mi	2/2.0 (-1)	1,008 (-14%)	10mo	$195,000	$193	38
3927 Paces Pl	0.60mi	2/2.0 (-1)	1,008 (-14%)	8mo	$186,000	$185	37
1151 Brafforton Dr	0.60mi	2/2.0 (-1)	1,008 (-14%)	12mo	$177,000	$176	34
1116 Brafforton Dr	0.69mi	2/2.0 (-1)	1,008 (-14%)	11mo	$179,000	$178	30
1136 Brafforton Dr	0.69mi	2/2.0 (-1)	1,008 (-14%)	12mo	$190,000	$188	30
1108 Brafforton Dr	0.69mi	2/2.0 (-1)	1,008 (-14%)	16mo	$200,000	$198	27

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 · 5.55% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-20,462
• Equity at exit: $31,610

10-year hold

• IRR: 3.3%
• Equity multiple: 1.26×
• Total profit: $15,666
• Equity at exit: $18,330

Cash invested: $59,360 (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 32311

• Home prices YoY: -27.5%
• Rents YoY: 5.5%
• Active inventory: 117
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,955 medium
• Mortgage (P&I): −$1,112
• Tax from tax record: −$207 /mo · $2,480/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $137

Break-even live

Break-even rent $1,781

Max offer price $212,000

Occupancy floor 88%

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: $53,000
• Closing costs: $6,360
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3909 Reserve Dr Tallahassee, FL	1.0–3.0	1.0–2.0	1220	$1,825	$1.50	13d	1	0.78mi
1497 Wooster Dr Tallahassee, FL	2.0–3.0	2.0–3.0	1238	$2,165	$1.75	13d	6	0.82mi
3373 Apalachee Pkwy Tallahassee, FL	1.0–2.0	1.0–2.0	779	$1,258	$1.61	13d	1	1.18mi

Listing history 23 events

1. 2026-06-18
   days on market $212,000 Active 149 DOM
2. 2026-06-17
   days on market $212,000 Active 148 DOM
3. 2026-06-16
   days on market $212,000 Active 147 DOM
4. 2026-06-15
   days on market $212,000 Active 146 DOM
5. 2026-06-14
   days on market $212,000 Active 144 DOM
6. 2026-06-10
   days on market $212,000 Active 141 DOM
7. 2026-06-09
   days on market $212,000 Active 140 DOM
8. 2026-06-08
   days on market $212,000 Active 139 DOM
9. 2026-06-07
   days on market $212,000 Active 138 DOM
10. 2026-06-05
    days on market $212,000 Active 135 DOM
11. 2026-06-03
    days on market $212,000 Active 134 DOM
12. 2026-06-02
    days on market $212,000 Active 133 DOM
13. 2026-06-01
    days on market $212,000 Active 132 DOM
14. 2026-05-31
    days on market $212,000 Active 131 DOM
15. 2026-05-30
    days on market $212,000 Active 130 DOM
16. 2026-01-20
    listed $212,000 Active
17. 2025-12-11
    historical
18. 2025-01-28
    listed $219,900 Active
19. 2024-01-08
    historical $1,500
20. 2023-12-22
    listed $1,500
21. 2019-11-15
    soldstatus $122,000
22. 2019-11-12
    soldstatus $122,000 547-char remark

    Show marketing remark (547 chars)

    This 3 Bedroom 2 Bath townhouse is a great investment property or for the 1st time home buyer. It will go quickly so see it soon! It is currently rented until February. Please give the tenant a 48 hours notice for showing. Currently leased at $850 a month, tenant has been there 5 years and would prefer to stay, but can move with 30 day notice. This great townhouse has quick access to Tom Brown Park, Governor's Square mall along with many of Tallahassee's beautiful areas. Really great floor plan with large great room! Please use ShowingTime.

23. 2019-10-01
    listed $123,500 547-char remark

    Show marketing remark (547 chars)

    This 3 Bedroom 2 Bath townhouse is a great investment property or for the 1st time home buyer. It will go quickly so see it soon! It is currently rented until February. Please give the tenant a 48 hours notice for showing. Currently leased at $850 a month, tenant has been there 5 years and would prefer to stay, but can move with 30 day notice. This great townhouse has quick access to Tom Brown Park, Governor's Square mall along with many of Tallahassee's beautiful areas. Really great floor plan with large great room! Please use ShowingTime.

ⓘ 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: $2,480 · $207/mo
• Projected year-2 tax: $2,480 · $207/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 4/10 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,456
• − Mortgage interest: −$11,875
• − Property taxes: −$2,480
• − Insurance: −$1,060
• − Repairs & maintenance: −$1,876
• − Management: −$1,876
• − Depreciation: −$6,167
• Taxable loss: −$1,879
• Est. tax savings @ 24.0%: +$451
• After-tax cash flow: $2,101/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): 21,905
• Household income: $81,243
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 795.0

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 0.64)
• Race & ethnicity: White 52% Black 27% Two or more races 10% Hispanic / Latino 9% Asian 6%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 1%
• Common ancestry: Romanian 2% Serbian 2% Slovak 2%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 86% English-only · Spanish 6% Other Indo-European 3% Other Asian/Pacific 2%

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: ▼ -90.68%
• Current HPI: 238.8804
• Rent YoY: ▲ 5.55%
• 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

+71.7% since first listed

8 events — show timeline

• 2026-01-20 Listed $212,000 CPARMLS
• 2025-12-11 Listing Removed — CATRS
• 2025-01-28 Listed $219,900 CATRS
• 2024-01-08 Rental Removed $1,500 STELLARMLS
• 2023-12-22 Listed for Rent $1,500 STELLARMLS
• 2019-11-15 Sold (Public Records) $122,000 Public Records
• 2019-11-12 Sold (MLS) $122,000 CATRS
• 2019-10-01 Listed $123,500 CATRS

Property tax history

+8.5%/yr

Latest (2025): $2,480 · +23.9% YoY. Source: county tax records.