4912 Heathe Dr · Tallahassee, FL 32309

$5,000

3 bd · 2.0 ba · 1,467 sqft · SingleFamily public records · 9 Days on market

Built 1980

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.8/5.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This beautifully renovated 3 bed 2 bath home with bonus room that can be used as 4th bedroom, playroom, or work from home office is conveniently located to shopping, groceries, entertainment, and within a top rated school district. With all the necessities, this home boasts new flooring throughout, new bathrooms, fresh-paint, new granite countertops, and all new stainless steel kitchen appliances. Relax on your screened in back porch while gazing out at love ones play in the pool.

Key facts

• Garage
• Listed 9 days

Property features AI

Finance

• Other: Directions: North on Thomasville Rd, right on Foxcroft, left on Heathe

Exterior

• Parking: Detached or attached garage with 1 parking space
• Home design: Residential property; One story
• Exterior features: Lot zoned residential; Lot size approximately 0.41 acres

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Single-story layout

🏷️ Possibly a rental listed for sale. The $5,000 price doesn't fit this home's estimated sale value (~$325,674) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $5k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $5k).
• Cap rate 384.3% 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 (+9.1%/yr); 107 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $35 of loan paydown is wiped out by about $150 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 + 8.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 17y 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

• 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 $5,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 40.75% ✓
• Cap rate: 384.27%
• Cash-on-cash: 1349.93%
• DSCR: 61.06
• GRM: 0.2

CMA / ARV

• ARV (on-the-fly): $325,674
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5312 Saint Ives Ln	0.28mi	3/2.0	1,506 (+3%)	4mo	$312,350	$207	79
5148 Holly Fern Trce	0.50mi	3/2.0	1,510 (+3%)	7mo	$380,000	$252	66
2720 Parsons Rst	0.26mi	3/2.0	1,618 (+10%)	7mo	$310,000	$192	65
2632 Nantucket Ln	0.60mi	3/2.0	1,385 (-6%)	4mo	$307,500	$222	59
5356 Tewkesbury Trce	0.65mi	3/2.0	1,524 (+4%)	8mo	$310,000	$203	57
2961 Paddington Dr	0.75mi	3/2.0	1,542 (+5%)	3mo	$358,000	$232	54
2613 Nantucket Ln	0.64mi	3/2.0	1,314 (-10%)	5mo	$310,000	$236	48
2978 Stony Brook Ct	0.65mi	3/2.0	1,626 (+11%)	6mo	$375,000	$231	46
5373 Appledore Ln	0.73mi	3/2.0	1,632 (+11%)	6mo	$345,000	$211	42
2921 Tewkesbury Trce	0.59mi	3/2.5	1,685 (+15%)	8mo	$345,000	$205	39
4134 Forsythe Way	0.74mi	3/2.0	1,682 (+15%)	5mo	$385,000	$229	37
2822 Yarmouth Ct	0.73mi	2/2.0 (-1)	1,672 (+14%)	5mo	$310,000	$185	33

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 79.78×
• Total profit: $110,294
• Equity at exit: $746

10-year hold

• IRR: —
• Equity multiple: 196.95×
• Total profit: $274,332
• Equity at exit: $432

Cash invested: $1,400 (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 32309

• Rents YoY: 9.1%
• Active inventory: 107
• Price-to-rent: 0.2×

Monthly cashflow live

• Estimated rent: $2,037 high
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $1,575

Break-even live

Break-even rent $44

Max offer price $5,000

Occupancy floor 18%

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5326 Saint Ives Ln Tallahassee, FL	4.0	2.0	1750	$2,495	$1.43	13d	1	0.25mi
4843 Anhinga Ln Tallahassee, FL	3.0	2.0	1100	$2,000	$1.82	13d	1	0.75mi
4475 Bayshore Cir Tallahassee, FL	3.0	2.0	1394	$1,800	$1.29	21d	1	0.92mi
2948 Whirlaway Trl Tallahassee, FL	3.0	2.0	1394	$2,150	$1.54	21d	1	1.14mi
4102 Tam O Shanter Tallahassee, FL	3.0	2.0	1781	$2,300	$1.29	21d	1	1.20mi
3740 Donovan Dr Unit B Tallahassee, FL	2.0	2.5	1252	$1,550	$1.24	13d	1	1.35mi

Listing history 16 events

1. 2026-05-31
   days on market $5,000 Active 9 DOM
2. 2026-05-30
   days on market $5,000 Active 8 DOM
3. 2026-05-22
   listed $5,000 Active
4. 2022-12-01
   soldstatus $393,000
5. 2022-11-21
   soldstatus $393,000 Closed 485-char remark

   Show marketing remark (485 chars)

   This beautifully renovated 3 bed 2 bath home with bonus room that can be used as 4th bedroom, playroom, or work from home office is conveniently located to shopping, groceries, entertainment, and within a top rated school district. With all the necessities, this home boasts new flooring throughout, new bathrooms, fresh-paint, new granite countertops, and all new stainless steel kitchen appliances. Relax on your screened in back porch while gazing out at love ones play in the pool.

6. 2022-10-07
   historical Active Under Contract 485-char remark

   Show marketing remark (485 chars)

   This beautifully renovated 3 bed 2 bath home with bonus room that can be used as 4th bedroom, playroom, or work from home office is conveniently located to shopping, groceries, entertainment, and within a top rated school district. With all the necessities, this home boasts new flooring throughout, new bathrooms, fresh-paint, new granite countertops, and all new stainless steel kitchen appliances. Relax on your screened in back porch while gazing out at love ones play in the pool.

7. 2022-09-22
   historical

   Show marketing remark (485 chars)

   This beautifully renovated 3 bed 2 bath home with bonus room that can be used as 4th bedroom, playroom, or work from home office is conveniently located to shopping, groceries, entertainment, and within a top rated school district. With all the necessities, this home boasts new flooring throughout, new bathrooms, fresh-paint, new granite countertops, and all new stainless steel kitchen appliances. Relax on your screened in back porch while gazing out at love ones play in the pool.

8. 2022-09-22
   listed $393,000 Active 485-char remark

   Show marketing remark (485 chars)

   This beautifully renovated 3 bed 2 bath home with bonus room that can be used as 4th bedroom, playroom, or work from home office is conveniently located to shopping, groceries, entertainment, and within a top rated school district. With all the necessities, this home boasts new flooring throughout, new bathrooms, fresh-paint, new granite countertops, and all new stainless steel kitchen appliances. Relax on your screened in back porch while gazing out at love ones play in the pool.

9. 2022-09-07
   price $398,000
10. 2022-08-09
    listed $400,000 Active
11. 2022-05-03
    soldstatus $255,000
12. 2022-04-06
    soldstatus $179,000
13. 2009-09-04
    soldstatus $206,000
14. 2009-09-04
    soldstatus $206,000
15. 2009-06-22
    listed $215,000
16. 1986-03-01
    soldstatus $75,000

ⓘ 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 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 · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,448
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$25
• − Repairs & maintenance: −$1,956
• − Management: −$1,956
• − Depreciation: −$145
• Taxable income: $20,010
• Est. tax owed @ 24.0%: −$4,803
• After-tax cash flow: $14,096/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): 33,544
• Household income: $113,412
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 789.0

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: Predominantly White (75%)
• Race & ethnicity: White 75% Black 9% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 2% Cuban 3%
• Common ancestry: Slovak 4% Lithuanian 3% Italian 3%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Russian/Polish/Slavic 1% Other Asian/Pacific 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: ▼ -212.85%
• Current HPI: 247.4336
• Rent YoY: ▲ 9.06%
• 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

-93.3% since first listed

14 events — show timeline

• 2026-05-22 Listed $5,000 NFMLS
• 2022-12-01 Sold (Public Records) $393,000 Public Records
• 2022-11-21 Sold (MLS) $393,000 CATRS
• 2022-10-07 Contingent — CATRS
• 2022-09-22 Listed $393,000 CATRS
• 2022-09-22 Listing Removed — CATRS
• 2022-09-07 Price Changed $398,000 CATRS
• 2022-08-09 Listed $400,000 CATRS
• 2022-05-03 Sold (Public Records) $255,000 Public Records
• 2022-04-06 Sold (Public Records) $179,000 Public Records
• 2009-09-04 Sold (Public Records) $206,000 Public Records
• 2009-09-04 Sold (MLS) $206,000 CATRS
• 2009-06-22 Listed $215,000 CATRS
• 1986-03-01 Sold (Public Records) $75,000 Public Records

Property tax history

+16.5%/yr

Latest (2022): $4,412 · +8.8% YoY. Source: county tax records.