3273 Connie Dr · Tallahassee, FL 32311

$154,900

3 bd · 2.0 ba · 1,168 sqft · Manufactured public records · 324 Days on market

Built 1987 8,712 sqft lot Est $111k · 40% over

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Why this score? — see what drove the C 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 +27.7/30.0
• DSCR +9.7/10.0
• 1% rule +6.6/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.9/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home or investment opportunity with lots of updates. New roof, 4 year old AC, new LVP throughout the living spaces, newer vinyl siding, new countertops, sinks and tub/shower inserts in both bathrooms and a huge newer deck in the back overlooking the greenspace behind the house (no backyard neighbors!!). There's also a great storage room (13x8) attached to the back, a large deck on the front, a huge two car carport and wood burning fireplace for these chilly "winter" nights. And it's in a great location that's just one minute to Walmart and Sam's Club and a quick drive down Apalachee into downtown. Add a splash of paint and make it your own. Or if you're looking for an affordable investment with good returns, look no further!

Key facts

• Roof
• New washer & dryer
• New water heater

Tags

• NEW CABINETS
• NEW VINYL FLOORING
• NEW WATER HEATER
• NEW WASHER & DRYER
• RE PIPED PLUMBING
• ROOF

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Double wide mobile home; Crawlspace foundation
• Construction: Vinyl siding
• Exterior features: Deck; Publicly maintained road

Interior

• Kitchen: Refrigerator; Oven; Range; Pantry
• Bedrooms: Bedroom 2 (12x12); Bedroom 3 (12x12)
• Flooring: Plank flooring; Vinyl flooring
• Heating & cooling: Central heating; Electric heating; Wood heating; Central air conditioning; Ceiling fan(s); Electric cooling
• Interior features: Window treatments; Pantry; Split-bedroom layout; Walk-in closet(s); Fireplace
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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: J Michael Conley Elementary School At Southwood (math 44% / reading 52%, grade D, #1,171 of 2,144 statewide, top 55%, 657 students, 47% FRL); Fairview Middle School (math 44% / reading 46%, grade D, #310 of 571 statewide, top 56%, 747 students, 58% FRL); James Rickards High School (math 23% / reading 37%, grade F, #441 of 667 statewide, top 67%, 1,581 students, 57% FRL).
• Market conditions: Rents rising fast (+5.5%/yr); 118 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 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 $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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $43k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 324 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 $90k; list at $155k implies a 72% 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→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 324 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. 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.
6. 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.
7. 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: 1.16% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.89%
• DSCR: 1.57
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $110,960
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3297 Connie Dr	0.04mi	3/2.0	1,056 (-10%)	8mo	$100,000	$95	75

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: 5.4%
• Equity multiple: 1.21×
• Total profit: $9,274
• Equity at exit: $23,096

10-year hold

• IRR: 16.8%
• Equity multiple: 2.54×
• Total profit: $66,605
• Equity at exit: $13,393

Cash invested: $43,372 (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: 118
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,801 high
• Mortgage (P&I): −$812
• Tax from tax record: −$80 /mo · $957/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $466

Break-even live

Break-even rent $1,211

Max offer price $154,900

Occupancy floor 69%

Sensitivity live

Price	-10% $554	-5% $510	+0% $466	+5% $422	+10% $378
Rent	-10% $324	-5% $395	+0% $466	+5% $537	+10% $608
Rate	-1.0pp $544	-0.5pp $505	base $466	+0.5pp $426	+1.0pp $385

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3373 Apalachee Pkwy Tallahassee, FL	1.0–2.0	1.0–2.0	779	$1,258	$1.61	15d	1	0.29mi
1736 Augustine Pl Tallahassee, FL	3.0	2.0	1400	$2,000	$1.43	23d	1	0.54mi
3148 Dick Wilson Blvd Tallahassee, FL	1.0–3.0	1.0–2.0	1536	$1,940	$1.26	15d	14	0.59mi
2750 Old Saint Augustine Rd Tallahassee, FL	1.0–3.0	1.0–2.0	1230	$1,739	$1.41	23d	2	0.62mi
2250 Bluff Oak Way Tallahassee, FL	1.0–3.0	1.0–2.0	1538	$1,978	$1.29	15d	17	0.78mi
2902 Battle Mountain Rd Tallahassee, FL	2.0	2.0	1160	$1,324	$1.14	23d	4	0.95mi
2074 Midyette Rd Tallahassee, FL	2.0–3.0	2.0	1033	$1,346	$1.30	15d	1	1.00mi
3909 Reserve Dr Tallahassee, FL	1.0–3.0	1.0–2.0	1220	$1,825	$1.50	15d	1	1.04mi
430 Grail Ct Tallahassee, FL	3.0	2.0	1252	$2,300	$1.84	23d	1	1.13mi
1515 Paul Russell Rd #85 Tallahassee, FL	3.0	2.5	1482	$1,400	$0.94	23d	1	1.26mi
432 Merlin Way Tallahassee, FL	3.0	2.0	1453	$2,150	$1.48	23d	1	1.29mi
1572 Keily Run Unit 1572 Tallahassee, FL	2.0	2.0	1200	$1,250	$1.04	23d	1	1.33mi
2912 Capital Park Dr Tallahassee, FL	3.0	2.0	1236	$1,650	$1.33	15d	1	1.37mi
1942 Darryl Dr Unit 1 Tallahassee, FL	2.0	2.0	1200	$2,300	$1.92	23d	1	1.40mi
2001 Old Saint Augustine Rd Tallahassee, FL	1.0–2.0	1.0–2.0	875	$1,436	$1.64	15d	11	1.42mi
2400 Barcelona Ct Tallahassee, FL	3.0	2.0	1080	$1,600	$1.48	15d	1	1.44mi
1872 Darryl Dr Tallahassee, FL	2.0	2.0	1062	$1,500	$1.41	23d	1	1.45mi
3550 Esplanade Way Tallahassee, FL	1.0–3.0	1.0–2.0	1031	$2,028	$1.97	15d	27	1.45mi

Listing history 28 events

1. 2026-06-22
   days on market $154,900 Active 324 DOM
2. 2026-06-18
   days on market $154,900 Active 321 DOM
3. 2026-06-17
   days on market $154,900 Active 320 DOM
4. 2026-06-16
   days on market $154,900 Active 319 DOM
5. 2026-06-15
   days on market $154,900 Active 318 DOM
6. 2026-06-14
   days on market $154,900 Active 316 DOM
7. 2026-06-10
   days on market $154,900 Active 313 DOM
8. 2026-06-09
   days on market $154,900 Active 312 DOM
9. 2026-06-08
   days on market $154,900 Active 311 DOM
10. 2026-06-07
    days on market $154,900 Active 310 DOM
11. 2026-06-05
    days on market $154,900 Active 307 DOM
12. 2026-06-03
    days on market $154,900 Active 306 DOM
13. 2026-06-02
    days on market $154,900 Active 305 DOM
14. 2026-06-01
    days on market $154,900 Active 304 DOM
15. 2026-05-31
    days on market $154,900 Active 303 DOM
16. 2026-05-30
    days on market $154,900 Active 302 DOM
17. 2026-01-29
    status Active
18. 2026-01-29
    price $154,900
19. 2025-12-12
    historical
20. 2025-08-11
    price $159,000
21. 2025-06-13
    listed $160,000 Active
22. 2023-02-15
    soldstatus $90,000
23. 2023-02-14
    soldstatus $90,000 Closed 758-char remark

    Show marketing remark (758 chars)

    Great starter home or investment opportunity with lots of updates. New roof, 4 year old AC, new LVP throughout the living spaces, newer vinyl siding, new countertops, sinks and tub/shower inserts in both bathrooms and a huge newer deck in the back overlooking the greenspace behind the house (no backyard neighbors!!). There's also a great storage room (13x8) attached to the back, a large deck on the front, a huge two car carport and wood burning fireplace for these chilly "winter" nights. And it's in a great location that's just one minute to Walmart and Sam's Club and a quick drive down Apalachee into downtown. Add a splash of paint and make it your own. Or if you're looking for an affordable investment with good returns, look no further!

24. 2023-01-28
    historical Active Under Contract 758-char remark

    Show marketing remark (758 chars)

    Great starter home or investment opportunity with lots of updates. New roof, 4 year old AC, new LVP throughout the living spaces, newer vinyl siding, new countertops, sinks and tub/shower inserts in both bathrooms and a huge newer deck in the back overlooking the greenspace behind the house (no backyard neighbors!!). There's also a great storage room (13x8) attached to the back, a large deck on the front, a huge two car carport and wood burning fireplace for these chilly "winter" nights. And it's in a great location that's just one minute to Walmart and Sam's Club and a quick drive down Apalachee into downtown. Add a splash of paint and make it your own. Or if you're looking for an affordable investment with good returns, look no further!

25. 2023-01-26
    listed $85,000 Active 758-char remark

    Show marketing remark (758 chars)

    Great starter home or investment opportunity with lots of updates. New roof, 4 year old AC, new LVP throughout the living spaces, newer vinyl siding, new countertops, sinks and tub/shower inserts in both bathrooms and a huge newer deck in the back overlooking the greenspace behind the house (no backyard neighbors!!). There's also a great storage room (13x8) attached to the back, a large deck on the front, a huge two car carport and wood burning fireplace for these chilly "winter" nights. And it's in a great location that's just one minute to Walmart and Sam's Club and a quick drive down Apalachee into downtown. Add a splash of paint and make it your own. Or if you're looking for an affordable investment with good returns, look no further!

26. 2005-10-26
    soldstatus $53,600
27. 1993-09-03
    soldstatus $30,700
28. 1981-08-01
    soldstatus $15,000

ⓘ 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: $957 · $80/mo
• Projected year-2 tax: $1,286 · $107/mo
• Expected delta: +$329/yr (+$27/mo · 34.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 4/10 Moderate 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,609
• − Mortgage interest: −$8,677
• − Property taxes: −$957
• − Insurance: −$774
• − Repairs & maintenance: −$1,729
• − Management: −$1,729
• − Depreciation: −$4,506
• Taxable income: $3,237
• Est. tax owed @ 24.0%: −$777
• After-tax cash flow: $4,815/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): 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

+932.7% since first listed

12 events — show timeline

• 2026-01-29 Relisted — CATRS
• 2026-01-29 Price Changed $154,900 CATRS
• 2025-12-12 Listing Removed — CATRS
• 2025-08-11 Price Changed $159,000 CATRS
• 2025-06-13 Listed $160,000 CATRS
• 2023-02-15 Sold (Public Records) $90,000 Public Records
• 2023-02-14 Sold (MLS) $90,000 CATRS
• 2023-01-28 Contingent — CATRS
• 2023-01-26 Listed $85,000 CATRS
• 2005-10-26 Sold (Public Records) $53,600 Public Records
• 1993-09-03 Sold (Public Records) $30,700 Public Records
• 1981-08-01 Sold (Public Records) $15,000 Public Records

Property tax history

+3.1%/yr

Latest (2025): $957 · +3.1% YoY. Source: county tax records.