447 W 6th Ave · Tallahassee, FL 32303

$242,900

3 bd · 1.0 ba · 1,312 sqft · SingleFamily public records · 85 Days on market

Built 1949 8,276 sqft lot Est $269k · 10% under

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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 +14.1/30.0
• ARV discount +11.9/15.0
• DSCR +4.3/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• 1% rule +3.6/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Midtown home located in the desirable Levy Park area of Tallahassee. Great opportunity for an owner occupant or investor. Situated on a large corner lot, comprised of two platted lots (Lots 1 & 2). The property offers great yard space for outdoor activities and entertaining. Hardwood flooring and natural lighting throughout. Large primary bedroom is currently being used as an art studio. Local shops, restaurants and bars within walking distance, and close to downtown amenities.

Key facts

• Kitchen remodeled
• New water heater
• Level corner lot

Tags

• LEVY PARK AREA
• KITCHEN REMODELED
• NEW ROOF
• NEW WATER HEATER
• NEW HVAC SYSTEM
• LEVEL CORNER LOT

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public sewer; Electric service
• Home design: Single-story; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Fully fenced yard; Paved road access

Interior

• Kitchen: Oven; Range; Dishwasher; Refrigerator
• Bedrooms: Bedroom 2 (13x10); Bedroom 3 (13x8)
• Flooring: Hardwood; Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Central air conditioning; Ceiling fan(s)
• Interior features: Hardwood and tile flooring; Ceiling fan(s)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $243k.

Deal economics

• At list price, monthly cash flow is $35 ($420/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 $210k (13.5% below list).
• Recommended offer: $210k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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.
• Zoned schools: Ruediger Elementary School (math 30% / reading 30%, grade F, #1,882 of 2,144 statewide, top 88%, 484 students, 72% FRL); Raa Middle School (math 42% / reading 51%, grade D+, #297 of 571 statewide, top 52%, 855 students, 49% FRL); Leon High School (math 52% / reading 60%, grade C, #131 of 667 statewide, top 20%, 1,935 students, 37% FRL).
• 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 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,765 units permitted in Leon County in 2024 (975 in 5+ unit buildings).
• This rent runs 40% of the median local income ($62k/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 $2k of loan paydown is wiped out by about $7k 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 85 days — a 6% lower offer ($228k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 13y 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

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,089 (13.5% below list)

Questions for the listing agent

1. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — 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. 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?
7. 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.
8. 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.
9. 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: 6.47%
• Cash-on-cash: 0.62%
• DSCR: 1.03
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $268,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1304 Gibbs Dr	0.27mi	3/2.0	1,277 (-3%)	5mo	$272,000	$213	75
1415 Jackson St	0.18mi	3/2.0	1,248 (-5%)	8mo	$305,000	$244	73
439 Shephard St	0.04mi	3/1.0	1,116 (-15%)	3mo	$225,000	$202	71
730 W 7th Ave	0.35mi	3/2.0	1,268 (-3%)	10mo	$260,000	$205	66
1423 N Duval St	0.34mi	2/1.0 (-1)	1,240 (-6%)	6mo	$232,500	$188	65
735 Westcott St	0.36mi	3/2.0	1,399 (+7%)	7mo	$285,500	$204	63
416 Beard St	0.71mi	3/2.0	1,307 (-0%)	2mo	$335,000	$256	60
1218 N Duval St	0.25mi	3/2.0	1,180 (-10%)	9mo	$400,000	$339	60
509 N Copeland St	0.63mi	3/3.0	1,271 (-3%)	1mo	$272,500	$214	56
1714 Monticello Dr	0.60mi	3/2.0	1,376 (+5%)	5mo	$190,000	$138	56
807 Goodbread Ln	0.35mi	2/1.0 (-1)	1,119 (-15%)	6mo	$68,000	$61	49
1115 N Woodward Ave	0.63mi	3/2.0	1,496 (+14%)	8mo	$235,000	$157	37

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: -15.2%
• Equity multiple: 0.46×
• Total profit: $-36,879
• Equity at exit: $36,217

10-year hold

• IRR: -6.4%
• Equity multiple: 0.59×
• Total profit: $-28,205
• Equity at exit: $21,002

Cash invested: $68,012 (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: 9.6×

Monthly cashflow live

• Estimated rent: $2,101 high
• Mortgage (P&I): −$1,274
• Tax from tax record: −$250 /mo · $2,996/yr
• Insurance: −$101
• HOA: −$0
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $35

Break-even live

Break-even rent $2,057

Max offer price $242,900

Occupancy floor 93%

Sensitivity live

Price	-10% $172	-5% $104	+0% $35	+5% $-34	+10% $-103
Rent	-10% $-131	-5% $-48	+0% $35	+5% $118	+10% $201
Rate	-1.0pp $157	-0.5pp $97	base $35	+0.5pp $-28	+1.0pp $-92

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: $60,725
• Closing costs: $7,287
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
828 N Duval St Tallahassee, FL	3.0	2.5	1498	$2,600	$1.74	23d	1	0.43mi
412 W Brevard St Unit 412 Tallahassee, FL	3.0	2.0	900	$800	$0.89	23d	1	0.49mi
1935 Dawsey St Unit 1935-2 Tallahassee, FL	2.0	1.0	875	$975	$1.11	15d	1	0.68mi
1916 Nannette Dr Unit 1916 Tallahassee, FL	2.0	1.0	1000	$1,100	$1.10	15d	1	0.69mi
1313 N Gadsden St Unit 2 Tallahassee, FL	3.0	1.0	1678	$3,500	$2.09	23d	1	0.70mi
1004 Volusia St Tallahassee, FL	4.0	2.0	1360	$1,800	$1.32	15d	1	0.70mi
440 N Monroe St Tallahassee, FL	3.0	1.0–3.0	1311	$3,850	$2.94	15d	15	0.76mi
859 W Brevard St Tallahassee, FL	4.0	4.0	1500	$1,900	$1.27	15d	1	0.77mi
847 W Georgia St Tallahassee, FL	4.0	4.0	1500	$1,900	$1.27	15d	1	0.82mi
415 N Gadsden St Tallahassee, FL	1.0–2.0	1.0–1.5	990	$1,575	$1.59	23d	6	0.89mi
406 Glenview Dr Unit 11 Tallahassee, FL	2.0	1.0	896	$1,100	$1.23	15d	1	0.95mi
1101 Washington Ct #1 Tallahassee, FL	2.0	1.0	950	$1,050	$1.11	15d	1	0.97mi
1643 Fernando Dr #2 Tallahassee, FL	2.0	2.0	1000	$1,650	$1.65	23d	1	0.98mi
1329 Nylic St #1 Tallahassee, FL	3.0	3.0	1275	$1,800	$1.41	23d	1	1.01mi
712 Shell St Tallahassee, FL	3.0	2.0	1601	$2,400	$1.50	23d	1	1.03mi
382 E Bradford Rd Tallahassee, FL	3.0	3.0	1302	$2,200	$1.69	23d	1	1.07mi
1107 Basin St Unit A Tallahassee, FL	3.0	2.0	1215	$2,400	$1.98	23d	1	1.09mi
2000 N Meridian Rd Tallahassee, FL	1.0–3.0	1.0–2.0	1174	$1,395	$1.19	15d	22	1.10mi
503 E Call St Tallahassee, FL	4.0	2.0	1875	$3,850	$2.05	23d	1	1.10mi
743 E 9th Ave Tallahassee, FL	2.0	1.0	900	$1,500	$1.67	15d	1	1.11mi
608 Talaflo St Tallahassee, FL	4.0	2.0	1830	$2,200	$1.20	15d	1	1.14mi
1325 W Tharpe St Tallahassee, FL	1.0–3.0	1.0–4.0	937	$1,676	$1.79	15d	21	1.16mi
1537 Payne St Unit 1 Tallahassee, FL	2.0	2.0	900	$1,990	$2.21	23d	1	1.17mi
1537 Payne St Tallahassee, FL	3.0	2.5	1850	$2,890	$1.56	23d	1	1.18mi
1531 Payne St #1 Tallahassee, FL	2.0	2.0	900	$2,049	$2.28	23d	1	1.20mi
1531 Payne St Tallahassee, FL	3.0	2.5	1850	$2,949	$1.59	23d	1	1.20mi
1531 Payne St #1 Tallahassee, FL	2.0	2.0	900	$1,990	$2.21	15d	1	1.20mi
1533 Payne St Unit 1 Tallahassee, FL	2.0	2.0	900	$1,990	$2.21	23d	1	1.21mi
1533 Payne St Unit 1 Tallahassee, FL	2.0	2.0	900	$1,990	$2.21	15d	1	1.21mi
1533 Payne St Tallahassee, FL	3.0	2.5	1850	$2,890	$1.56	23d	1	1.21mi
1533 Payne St Tallahassee, FL	3.0	2.5	1850	$2,890	$1.56	15d	1	1.21mi
1535 Payne St Unit 1 Tallahassee, FL	2.0	2.0	900	$1,990	$2.21	23d	1	1.21mi
1535 Payne St Tallahassee, FL	3.0	2.5	1850	$2,890	$1.56	23d	1	1.21mi
1545 Payne St Unit 4 Tallahassee, FL	2.0	2.0	900	$1,990	$2.21	23d	1	1.22mi
1545 Payne St Unit 2 Tallahassee, FL	3.0	2.5	1850	$2,890	$1.56	23d	1	1.22mi
1541 Payne St Unit 3 Tallahassee, FL	2.0	2.0	900	$1,990	$2.21	23d	1	1.22mi
1541 Payne St Unit 2 Tallahassee, FL	3.0	2.5	1850	$2,890	$1.56	23d	1	1.22mi
1549 Payne St Unit 2 Tallahassee, FL	3.0	2.5	1850	$2,890	$1.56	23d	1	1.22mi
1549 Payne St Unit 4 Tallahassee, FL	2.0	2.0	900	$1,990	$2.21	23d	1	1.22mi
1553 Payne St Unit 1 Tallahassee, FL	3.0	2.5	1850	$2,949	$1.59	23d	1	1.22mi

Listing history 27 events

1. 2026-06-22
   days on market $242,900 Active 85 DOM
2. 2026-06-18
   days on market $242,900 Active 82 DOM
3. 2026-06-17
   days on market $242,900 Active 81 DOM
4. 2026-06-16
   days on market $242,900 Active 80 DOM
5. 2026-06-15
   days on market $242,900 Active 79 DOM
6. 2026-06-14
   days on market $242,900 Active 77 DOM
7. 2026-06-10
   days on market $242,900 Active 74 DOM
8. 2026-06-09
   days on market $242,900 Active 73 DOM
9. 2026-06-08
   days on market $242,900 Active 72 DOM
10. 2026-06-07
    pricedays on market $242,900 Active 71 DOM
11. 2026-06-05
    days on market $244,900 Active 68 DOM
12. 2026-06-03
    days on market $244,900 Active 67 DOM
13. 2026-06-02
    days on market $244,900 Active 66 DOM
14. 2026-06-01
    days on market $244,900 Active 65 DOM
15. 2026-05-31
    days on market $244,900 Active 64 DOM
16. 2026-05-30
    days on market $244,900 Active 63 DOM
17. 2026-04-20
    price $244,900
18. 2026-03-28
    listed $255,000 Active
19. 2023-08-10
    soldstatus $228,000 Closed 497-char remark

    Show marketing remark (497 chars)

    Charming Midtown home located in the desirable Levy Park area of Tallahassee. Great opportunity for an owner occupant or investor. Situated on a large corner lot, comprised of two platted lots (Lots 1 & 2). The property offers great yard space for outdoor activities and entertaining. Hardwood flooring and natural lighting throughout. Large primary bedroom is currently being used as an art studio. Local shops, restaurants and bars within walking distance, and close to downtown amenities.

20. 2023-07-10
    historical Active Under Contract 497-char remark

    Show marketing remark (497 chars)

    Charming Midtown home located in the desirable Levy Park area of Tallahassee. Great opportunity for an owner occupant or investor. Situated on a large corner lot, comprised of two platted lots (Lots 1 & 2). The property offers great yard space for outdoor activities and entertaining. Hardwood flooring and natural lighting throughout. Large primary bedroom is currently being used as an art studio. Local shops, restaurants and bars within walking distance, and close to downtown amenities.

21. 2023-07-01
    listed $230,000 Active 497-char remark

    Show marketing remark (497 chars)

    Charming Midtown home located in the desirable Levy Park area of Tallahassee. Great opportunity for an owner occupant or investor. Situated on a large corner lot, comprised of two platted lots (Lots 1 & 2). The property offers great yard space for outdoor activities and entertaining. Hardwood flooring and natural lighting throughout. Large primary bedroom is currently being used as an art studio. Local shops, restaurants and bars within walking distance, and close to downtown amenities.

22. 2017-01-03
    soldstatus $135,000
23. 2016-12-29
    soldstatus $135,000 498-char remark

    Show marketing remark (498 chars)

    Adorable 1949 cottage in popular in-town neighborhood. Newly refinished distressed antique heart pine floors create giving this precious home so much charm! Welcoming front porch, lovely exterior pallet with vintage touches add to the great curb appeal! Roof has been replaced recently as well as thermopane windows through out. This home sits on a DOUBLE lot- great for children, pets gardening and more! Property is completely fenced and waiting for a new family today! More picture coming soon!

24. 2016-11-14
    listed $145,000 498-char remark

    Show marketing remark (498 chars)

    Adorable 1949 cottage in popular in-town neighborhood. Newly refinished distressed antique heart pine floors create giving this precious home so much charm! Welcoming front porch, lovely exterior pallet with vintage touches add to the great curb appeal! Roof has been replaced recently as well as thermopane windows through out. This home sits on a DOUBLE lot- great for children, pets gardening and more! Property is completely fenced and waiting for a new family today! More picture coming soon!

25. 2015-03-04
    soldstatus $90,000
26. 2015-03-02
    soldstatus $90,000
27. 2013-10-01
    listed $90,000

ⓘ 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: $2,996 · $250/mo
• Projected year-2 tax: $2,996 · $250/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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 19 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: $25,211
• − Mortgage interest: −$13,606
• − Property taxes: −$2,996
• − Insurance: −$1,214
• − Repairs & maintenance: −$2,017
• − Management: −$2,017
• − Depreciation: −$7,066
• Taxable loss: −$3,706
• Est. tax savings @ 24.0%: +$890
• After-tax cash flow: $1,309/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

+172.1% since first listed

11 events — show timeline

• 2026-04-20 Price Changed $244,900 CATRS
• 2026-03-28 Listed $255,000 CATRS
• 2023-08-10 Sold (MLS) $228,000 CATRS
• 2023-07-10 Contingent — CATRS
• 2023-07-01 Listed $230,000 CATRS
• 2017-01-03 Sold (Public Records) $135,000 Public Records
• 2016-12-29 Sold (MLS) $135,000 CATRS
• 2016-11-14 Listed $145,000 CATRS
• 2015-03-04 Sold (Public Records) $90,000 Public Records
• 2015-03-02 Sold (MLS) $90,000 CATRS
• 2013-10-01 Listed $90,000 CATRS

Property tax history

+7.9%/yr

Latest (2025): $2,996 · -12.3% YoY. Source: county tax records.