3000 S Adams St #711 · Tallahassee, FL 32301

$111,000

3 bd · 3.0 ba · 1,264 sqft · Condo public records · 118 Days on market

Built 2005 Est $200k · 44% under $302/mo HOA · 17% of rent ↓ 22% since listing

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Why this score? — see what drove the B+ 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 +27.4/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.6/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location, close to FAMU, this condo has fresh paint, new carpet, new fixtures, move in ready. Call today to view this 3BR/3BA property. Call LA to view NOT FHA/VA approved, No investors for the first 20 days

Key facts

• 1st floor
• En suite baths
• Clubhouse

Tags

• 1ST FLOOR
• EN SUITE BATHS
• WALK-IN CLOSETS
• FULLY EQUIPPED KITCHEN
• SWIMMING POOL
• CLUBHOUSE

Property features AI

Finance

• HOA & community: HOA fee covers common areas, structure maintenance, and pool(s); Association fee (listed)

Exterior

• Parking: Parking space(s)
• Security: Gated community
• Utilities: Public sewer
• Home design: Condominium (unit); Located in a gated community
• Construction: Brick construction
• Exterior features: Community pool; Street lights; Private maintained road

Interior

• Kitchen: Oven; Range; Dishwasher; Disposal; Refrigerator
• Bedrooms: Bedroom 2 (13x11); Bedroom 3 (13x11)
• Flooring: Plank flooring; Vinyl flooring
• Bathrooms: 3 full bathrooms
• Heating & cooling: Electric heating; Central electric cooling
• Interior features: Handicap access
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath condo listed at $111k.

Deal economics

• At list price, monthly cash flow is $325 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $111k).
• Recommended offer: $101k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 (+4.2%/yr); 121 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 41% of the median local income ($51k/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 $767 of loan paydown is wiped out by about $3k 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 + 4.2% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $65k; list at $111k implies a 71% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,010 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 1.57% ✓
• Cap rate: 9.80%
• Cash-on-cash: 12.53%
• DSCR: 1.56
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $199,712
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2304 S Calhoun St Unit A&B	0.70mi	4/2.0 (+1)	1,200 (-5%)	14mo	$190,000	$158	38

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 · 4.16% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.16×
• Total profit: $4,948
• Equity at exit: $16,550

10-year hold

• IRR: 15.0%
• Equity multiple: 2.30×
• Total profit: $40,402
• Equity at exit: $9,597

Cash invested: $31,080 (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 32301

• Rents YoY: 4.2%
• Active inventory: 121
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,744 high
• Mortgage (P&I): −$582
• Tax from tax record: −$123 /mo · $1,477/yr
• Insurance: −$46
• HOA: −$302
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $325

Break-even live

Break-even rent $1,333

Max offer price $111,000

Occupancy floor 76%

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: $27,750
• Closing costs: $3,330
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 S Adams St Tallahassee, FL	1.0–3.0	1.0–3.0	884	$1,850	$2.09	21d	8	0.06mi
509 Famcee Ave Tallahassee, FL	3.0	2.0	1079	$1,700	$1.58	21d	1	0.46mi
3005 S Meridian St Tallahassee, FL	3.0	1.0	998	$2,300	$2.30	21d	1	0.52mi
401 Putnam Dr Tallahassee, FL	1.0–2.0	1.0–2.0	766	$1,250	$1.63	21d	1	0.58mi
3111 Rackley Dr Tallahassee, FL	4.0	2.5	1802	$3,800	$2.11	21d	1	0.75mi
2205 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	750	$1,225	$1.63	13d	9	0.78mi
2205 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	750	$1,225	$1.63	21d	1	0.78mi
2218 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	700	$1,200	$1.71	21d	7	0.79mi
635 Palm Beach St Apt 125 Tallahassee, FL	2.0	2.0	900	$900	$1.00	21d	1	0.88mi
735 Putnam Dr #2 Tallahassee, FL	3.0	2.5	1396	$1,650	$1.18	13d	1	0.91mi
402 Perkins St Tallahassee, FL	4.0	2.0	1686	$1,850	$1.10	21d	1	0.96mi
418 Perkins St Tallahassee, FL	4.0	2.0	1497	$1,850	$1.24	21d	1	0.97mi
301 Gaile Ave Tallahassee, FL	3.0	1.0	1009	$1,400	$1.39	13d	1	0.97mi
3178 N Ridge Rd Apt A Tallahassee, FL	2.0	2.0	995	$1,350	$1.36	13d	1	1.17mi
1504 S Adams St #1 Tallahassee, FL	2.0	2.0	1088	$1,300	$1.19	13d	1	1.27mi
2873 Jim Lee Rd Tallahassee, FL	2.0	2.0	1000	$925	$0.93	21d	1	1.29mi
916 Saddle Creek Run Tallahassee, FL	4.0	2.0	1399	$1,750	$1.25	13d	1	1.48mi
1315 Pinellas St Tallahassee, FL	3.0	3.0	1197	$1,450	$1.21	21d	1	1.48mi
1240 Levy Ave Tallahassee, FL	3.0	1.0	1290	$1,350	$1.05	21d	1	1.48mi

HOA detail condo

• Monthly dues: $302 · $3,624/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $111,000 Active 118 DOM
2. 2026-06-17
   days on market $111,000 Active 117 DOM
3. 2026-06-16
   days on market $111,000 Active 116 DOM
4. 2026-06-15
   days on market $111,000 Active 115 DOM
5. 2026-06-14
   days on market $111,000 Active 113 DOM
6. 2026-06-10
   days on market $111,000 Active 110 DOM
7. 2026-06-09
   days on market $111,000 Active 109 DOM
8. 2026-06-08
   days on market $111,000 Active 108 DOM
9. 2026-06-07
   days on market $111,000 Active 107 DOM
10. 2026-06-05
    days on market $111,000 Active 104 DOM
11. 2026-06-03
    days on market $111,000 Active 103 DOM
12. 2026-06-02
    days on market $111,000 Active 102 DOM
13. 2026-06-01
    days on market $111,000 Active 101 DOM
14. 2026-05-31
    days on market $111,000 Active 100 DOM
15. 2026-05-30
    days on market $111,000 Active 99 DOM
16. 2026-04-29
    price $111,000
17. 2026-02-20
    listed $115,000 Active
18. 2025-07-27
    historical $1,500
19. 2025-07-24
    listed $1,500
20. 2023-08-20
    historical $1,275
21. 2023-08-19
    listed $1,275
22. 2018-06-12
    soldstatus $64,900
23. 2018-06-11
    soldstatus $64,900 213-char remark

    Show marketing remark (213 chars)

    Great location, close to FAMU, this condo has fresh paint, new carpet, new fixtures, move in ready. Call today to view this 3BR/3BA property. Call LA to view NOT FHA/VA approved, No investors for the first 20 days

24. 2018-04-27
    listed $64,900 213-char remark

    Show marketing remark (213 chars)

    Great location, close to FAMU, this condo has fresh paint, new carpet, new fixtures, move in ready. Call today to view this 3BR/3BA property. Call LA to view NOT FHA/VA approved, No investors for the first 20 days

25. 2013-07-30
    historical
26. 2009-05-01
    listed $65,000
27. 2006-03-14
    historical
28. 2006-01-04
    listed $141,750

ⓘ 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: $1,477 · $123/mo
• Projected year-2 tax: $1,477 · $123/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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,931
• − Mortgage interest: −$6,218
• − Property taxes: −$1,477
• − Insurance: −$555
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − HOA: −$3,624
• − Depreciation: −$3,229
• Taxable income: $2,480
• Est. tax owed @ 24.0%: −$595
• After-tax cash flow: $3,300/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): 32,017
• Household income: $50,942
• Rent vs Own: 68.8% rent · 31.2% own
• Severe rent burden: 2625.0

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 0.61)
• Race & ethnicity: Black 49% White 38% Hispanic / Latino 6% Two or more races 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 1% Cuban 1%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 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: ▼ -231.50%
• Current HPI: 231.103
• Rent YoY: ▲ 4.16%
• 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

-21.7% since first listed

13 events — show timeline

• 2026-04-29 Price Changed $111,000 CATRS
• 2026-02-20 Listed $115,000 CATRS
• 2025-07-27 Rental Removed $1,500 APPFOLIO
• 2025-07-24 Listed for Rent $1,500 APPFOLIO
• 2023-08-20 Rental Removed $1,275 APPFOLIO
• 2023-08-19 Listed for Rent $1,275 APPFOLIO
• 2018-06-12 Sold (Public Records) $64,900 Public Records
• 2018-06-11 Sold (MLS) $64,900 CATRS
• 2018-04-27 Listed $64,900 CATRS
• 2013-07-30 Listing Removed — CATRS
• 2009-05-01 Listed $65,000 CATRS
• 2006-03-14 Listing Removed — CATRS
• 2006-01-04 Listed $141,750 CATRS

Property tax history

+4.5%/yr

Latest (2025): $1,477 · +11.6% YoY. Source: county tax records.