2705 Lake Henrietta St · Tallahassee, FL 32310

$125,000

3 bd · 1.0 ba · 1,094 sqft · SingleFamily public records · 19 Days on market

Built 1970 5,227 sqft lot Est $150k · 17% under

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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 +24.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.1/10.0
• 1% rule +6.5/10.0
• Appreciation +4.7/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great Home and stop paying rent!! This home is a great home 2 bedroom 1 bath NEW WINDOWS! This could also be a great rental in the Hud Program! Definately a money maker for investor or homeowner investing in themselves. NO HOA! Easy access to FSU FAMU, Airport and I 10

Key facts

• Easy access to i 10
• No hoa
• New windows

Tags

• NEW WINDOWS
• NO HOA
• EASY ACCESS TO FSU FAMU
• EASY ACCESS TO AIRPORT
• EASY ACCESS TO I 10

Property features AI

Finance

• Financial info: Property is for sale

Exterior

• Parking: Driveway
• Utilities: Public sewer
• Home design: Single-story
• Exterior features: Fully fenced yard; Paved road access

Interior

• Kitchen: Kitchen — 9 x 4
• Bedrooms: Bedroom 2 — 10 x 8; Additional bedroom — 11 x 10
• Bathrooms: 1 full bathroom
• Interior features: Living room; Family room; Dining room; Kitchen

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $269 ($3k/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: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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: Pineview Elementary School (math 32% / reading 32%, grade F, #1,797 of 2,144 statewide, top 86%, 362 students, 83% FRL); R. Frank Nims Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 609 students, 82% FRL); James Rickards High School (math 23% / reading 37%, grade F, #441 of 667 statewide, top 67%, 1,581 students, 57% FRL) — zoned schools average 74% FRL vs 45% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-22 pts) — the specific schools serving this property underperform the Leon average; the district grade overstates school quality for this exact location.
• Market conditions: 94 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,765 units permitted in Leon County in 2024 (975 in 5+ unit buildings).
• At $1,443/mo this rent would consume 45% of the median local household income ($38k/yr) (locally 1272% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $188 of equity ($864 loan paydown + $-676 appreciation (-0.5% local appreciation)).
• Leon County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-0.5% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 4y 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 $123,125 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.15% ✓
• Cap rate: 8.88%
• Cash-on-cash: 9.23%
• DSCR: 1.41
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $149,878
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3182 Notre Dame St	0.44mi	3/1.0	1,081 (-1%)	23mo	$117,000	$108	58
804 Medical Commons Ct	0.68mi	3/2.0	1,119 (+2%)	11mo	$231,631	$207	51
2624 Saxon St	0.73mi	3/2.0	1,186 (+8%)	5mo	$163,000	$137	44
2046 Holmes St	0.67mi	2/1.0 (-1)	1,160 (+6%)	14mo	$105,000	$91	42
2228 Keith St	0.74mi	3/2.0	1,180 (+8%)	13mo	$185,000	$157	38
2065 Holmes St	0.63mi	3/1.0	975 (-11%)	23mo	$142,500	$146	33
3407 Springhill Rd	0.70mi	2/1.0 (-1)	1,232 (+13%)	14mo	$122,850	$100	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.54% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.30×
• Total profit: $10,362
• Equity at exit: $32,950

10-year hold

• IRR: 12.2%
• Equity multiple: 2.26×
• Total profit: $44,129
• Equity at exit: $37,027

Cash invested: $35,000 (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 32310

• Home prices YoY: -0.2%
• Active inventory: 94
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,443 high
• Mortgage (P&I): −$656
• Tax from tax record: −$164 /mo · $1,964/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $269

Break-even live

Break-even rent $1,103

Max offer price $125,000

Occupancy floor 76%

Sensitivity live

Price	-10% $340	-5% $304	+0% $269	+5% $234	+10% $198
Rent	-10% $155	-5% $212	+0% $269	+5% $326	+10% $383
Rate	-1.0pp $332	-0.5pp $301	base $269	+0.5pp $237	+1.0pp $204

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3178 N Ridge Rd Apt A Tallahassee, FL	2.0	2.0	995	$1,350	$1.36	15d	1	0.38mi
1240 Levy Ave Tallahassee, FL	3.0	1.0	1290	$1,350	$1.05	22d	1	0.84mi
1616 McCaskill Ave Tallahassee, FL	1.0–2.0	1.0	750	$969	$1.29	22d	43	0.96mi
509 Famcee Ave Tallahassee, FL	3.0	2.0	1079	$1,700	$1.58	22d	1	1.07mi
635 Palm Beach St Apt 125 Tallahassee, FL	2.0	2.0	900	$900	$1.00	22d	1	1.09mi
643 Kissimmee St Tallahassee, FL	2.0	1.0	800	$1,595	$1.99	22d	1	1.12mi
1426 Pepper Dr Tallahassee, FL	2.0	1.0	858	$1,250	$1.46	22d	1	1.22mi
1615 Sharkey St Tallahassee, FL	4.0	2.0	1278	$1,600	$1.25	22d	1	1.33mi
1643 Sharkey St Tallahassee, FL	3.0	1.0	912	$1,350	$1.48	22d	1	1.34mi
930 S Lipona Rd Unit D Tallahassee, FL	2.0	2.0	896	$1,295	$1.45	22d	1	1.41mi
3000 S Adams St Tallahassee, FL	1.0–3.0	1.0–3.0	884	$1,850	$2.09	22d	8	1.42mi
1606 Airport Dr Tallahassee, FL	3.0	2.0	1008	$1,395	$1.38	22d	1	1.44mi
1303 Airport Dr Unit A08 Tallahassee, FL	2.0	2.5	1083	$1,475	$1.36	22d	1	1.46mi

Listing history 15 events

1. 2026-06-18
   days on market $125,000 Active 19 DOM
2. 2026-06-17
   days on market $125,000 Active 18 DOM
3. 2026-06-16
   days on market $125,000 Active 17 DOM
4. 2026-06-15
   days on market $125,000 Active 16 DOM
5. 2026-06-14
   days on market $125,000 Active 14 DOM
6. 2026-06-10
   days on market $125,000 Active 11 DOM
7. 2026-06-09
   days on market $125,000 Active 10 DOM
8. 2026-06-08
   days on market $125,000 Active 9 DOM
9. 2026-06-07
   days on market $125,000 Active 8 DOM
10. 2026-06-05
    days on market $125,000 Active 5 DOM
11. 2026-06-03
    days on market $125,000 Active 4 DOM
12. 2026-06-02
    days on market $125,000 Active 3 DOM
13. 2026-06-01
    days on market $125,000 Active 2 DOM
14. 2026-05-31
    remarks 275-char remark
15. 2026-05-31
    listed $125,000 Active 1 DOM

ⓘ 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: $1,964 · $164/mo
• Projected year-2 tax: $1,964 · $164/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 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 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,322
• − Mortgage interest: −$7,002
• − Property taxes: −$1,964
• − Insurance: −$625
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$3,636
• Taxable income: $1,323
• Est. tax owed @ 24.0%: −$317
• After-tax cash flow: $2,911/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): 14,888
• Household income: $38,288
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1272.0

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 50% White 36% Hispanic / Latino 9% Two or more races 5%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 92% English-only · Spanish 6% French/Haitian/Cajun 1% German/W. Germanic 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: ▼ -0.54%
• Current HPI: 270.5721
• 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

+14.7% since first listed

47 events — show timeline

• 2026-05-30 Listed $125,000 CATRS
• 2026-03-01 Listing Removed — CATRS
• 2025-11-07 Relisted — CATRS
• 2025-10-17 Contingent — CATRS
• 2025-08-13 Listed $118,900 CATRS
• 2025-06-13 Listing Removed — CATRS
• 2025-05-08 Price Changed $118,400 CATRS
• 2025-04-24 Price Changed $119,900 CATRS
• 2025-04-10 Listed $124,000 CATRS
• 2025-04-07 Listing Removed — CATRS
• 2025-03-11 Relisted — CATRS
• 2025-02-19 Contingent — CATRS
• 2024-12-10 Price Changed $125,900 CATRS
• 2024-11-24 Price Changed $127,000 CATRS
• 2024-11-14 Price Changed $128,000 CATRS
• 2024-10-08 Listing Removed — CATRS
• 2024-10-08 Listed $129,000 CATRS
• 2024-08-29 Listed $129,000 CATRS
• 2024-08-26 Listing Removed — CATRS
• 2024-07-19 Relisted — CATRS
• 2024-07-02 Contingent — CATRS
• 2024-06-10 Relisted — CATRS
• 2024-06-05 Listing Removed — CATRS
• 2024-06-02 Listed $129,900 CATRS
• 2024-06-02 Listing Removed — CATRS
• 2024-05-08 Listing Removed — CATRS
• 2024-05-08 Listed $134,900 CATRS
• 2024-03-27 Listed $139,900 CATRS
• 2024-03-23 Listing Removed — CATRS
• 2024-03-09 Relisted — CATRS
• 2024-03-08 Listing Removed — CATRS
• 2024-02-03 Listed $129,900 CATRS
• 2024-01-30 Listing Removed — CATRS
• 2024-01-29 Listed $139,900 CATRS
• 2024-01-26 Listing Removed — CATRS
• 2023-12-18 Listed $139,900 CATRS
• 2023-12-08 Listing Removed — CATRS
• 2023-12-06 Listed $129,900 CATRS
• 2023-08-15 Rental Removed — APPFOLIO
• 2022-06-21 Sold (Public Records) $110,000 Public Records
• 2022-06-17 Sold (MLS) $111,000 CATRS
• 2022-06-16 Sold (MLS) $110,000 Stellar MLS as Distributed by MLS Grid
• 2022-06-01 Listed $110,000 CATRS
• 2022-05-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-04-24 Relisted — Stellar MLS as Distributed by MLS Grid
• 2022-04-15 Pending — Stellar MLS as Distributed by MLS Grid
• 2022-04-12 Listed $109,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+16.1%/yr

Latest (2025): $1,964 · +5.9% YoY. Source: county tax records.