3425 Laura St · Tallahassee, FL 32305

$124,900

2 bd · 1.0 ba · 1,934 sqft · SingleFamily public records · 89 Days on market

Built 1963 0.38 ac lot

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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 +28.4/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your new home or investment! This property offers spacious living with 2 bedrooms, 1 bathroom and an eat-in kitchen perfect for entertaining. It has a living room and a family room, plus an additional enclosed garage of 480sqft with a shower. Lots of natural light throughout. All of this with a fenced front and backyard. Situated just off North Monroe, off Tram. Don’t miss your chance to own this exceptional home. Schedule your private tour today and experience the perfect blend of comfort, style, and convenience!

Key facts

• Enclosed garage
• Natural light
• Eat-in kitchen

Tags

• EAT-IN KITCHEN
• ENCLOSED GARAGE
• FENCED FRONT AND BACKYARD
• NATURAL LIGHT

Property features AI

Exterior

• Parking: Driveway
• Home design: Single-story; Brick construction
• Construction: Brick construction
• Exterior features: Fully fenced yard; Paved road access

Interior

• Kitchen: Kitchen (20 x 20)
• Bedrooms: Bedroom 2 (12 x 10)
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Interior features: Tile flooring
• Laundry & utility: Utility room (15 x 12)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $403 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $117k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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: 105 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,765 units permitted in Leon County in 2024 (975 in 5+ unit buildings).
• This rent runs 37% of the median local income ($48k/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 $864 of loan paydown is wiped out by about $4k 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 + 3.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $66k; list at $125k implies a 88% 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 $117,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1963 — 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. 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: 1.19% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.82%
• DSCR: 1.61
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $293,968
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 Skylark Ave	0.46mi	3/2.0 (+1)	1,804 (-7%)	4mo	$66,000	$37	55
3200 Jim Lee Rd	0.49mi	3/2.0 (+1)	1,848 (-4%)	21mo	$280,000	$152	43

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.0%
• Equity multiple: 1.15×
• Total profit: $5,377
• Equity at exit: $18,623

10-year hold

• IRR: 13.5%
• Equity multiple: 2.07×
• Total profit: $37,572
• Equity at exit: $10,799

Cash invested: $34,972 (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 32305

• Home prices YoY: -22.5%
• Active inventory: 105
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,486 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$64 /mo · $772/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$312
• Net cashflow: $403

Break-even live

Break-even rent $976

Max offer price $124,900

Occupancy floor 68%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	$1,425	$1.61	21d	8	1.07mi
735 Putnam Dr #2 Tallahassee, FL	3.0	2.5	1396	$1,650	$1.18	13d	1	1.13mi

Listing history 13 events

1. 2026-06-10
   days on market $124,900 Active 89 DOM
2. 2026-06-09
   days on market $124,900 Active 88 DOM
3. 2026-06-08
   days on market $124,900 Active 87 DOM
4. 2026-06-07
   days on market $124,900 Active 86 DOM
5. 2026-06-05
   pricedays on market $124,900 Active 83 DOM
6. 2026-06-03
   days on market $139,000 Active 82 DOM
7. 2026-06-02
   days on market $139,000 Active 81 DOM
8. 2026-06-01
   days on market $139,000 Active 80 DOM
9. 2026-05-31
   days on market $139,000 Active 79 DOM
10. 2026-05-30
    days on market $139,000 Active 78 DOM
11. 2026-04-28
    price $139,000
12. 2026-03-13
    listed $149,900 Active
13. 2003-06-04
    soldstatus $66,500

ⓘ 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: $772 · $64/mo
• Projected year-2 tax: $1,037 · $86/mo
• Expected delta: +$264/yr (+$22/mo · 34.2%)

ⓘ 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 ≥109°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 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,835
• − Mortgage interest: −$6,996
• − Property taxes: −$772
• − Insurance: −$624
• − Repairs & maintenance: −$1,427
• − Management: −$1,427
• − Depreciation: −$3,633
• Taxable income: $2,955
• Est. tax owed @ 24.0%: −$709
• After-tax cash flow: $4,124/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): 19,384
• Household income: $48,045
• Rent vs Own: 40.7% rent · 59.3% own
• Severe rent burden: 654.0

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 0.57)
• Race & ethnicity: Black 57% White 33% Two or more races 5% Hispanic / Latino 5% Asian 1%
• Common ancestry: Serbian 1% Hispanic 1% Iranian 1%
• Foreign-born: 3% · Canada
• Languages at home: 94% English-only · Spanish 5% Other Indo-European 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: ▼ -63.40%
• Current HPI: 218.4834
• Rent YoY: —
• 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

+109.0% since first listed

3 events — show timeline

• 2026-04-28 Price Changed $139,000 CATRS
• 2026-03-13 Listed $149,900 CATRS
• 2003-06-04 Sold (Public Records) $66,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $772 · +4.6% YoY. Source: county tax records.