420 Kenyon Pl · Tallahassee, FL 32317

$342,900

3 bd · 2.5 ba · 1,895 sqft · Townhouse · 30 Days on market

Built 2026 Good condition 435 sqft lot Est $453k · 24% under $30/mo HOA · 1% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +12.4/30.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Condition / age +4.0/5.0
• 1% rule +3.7/10.0
• DSCR +3.7/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully designed 3 bedroom, 2.5 bath townhome offering the perfect blend of convenience and space. The thoughtfully crafted main level features a spacious primary suite, creating a private retreat with easy access and everyday comfort. The open-concept living area flows seamlessly, perfect for entertaining or relaxing at home. Upstairs, you’ll find two generously sized bedrooms along with a versatile flex space ideal for a home office, media room, playroom, or whatever fits your lifestyle. With its smart layout and multiple living zones, this home offers both functionality and flexibility, perfect for today’s modern living. Enjoy low-maintenance townhome livi

Key facts

• $30 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Property listed for sale
• HOA & community: Association fee applies ($363); Community pool

Exterior

• Parking: 1-car garage
• Utilities: Public sewer
• Home design: 2-story home; New construction; Home warranty included
• Construction: New construction
• Exterior features: Community pool; Paved road access; Curbs and gutters

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range
• Bedrooms: Bedroom 2 (15x12); Bedroom 3 (15x11); Additional room (10x11)
• Flooring: Carpet; Plank; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central electric air conditioning; Electric heating
• Interior features: High ceilings; Stall shower; Upper-level primary bedroom

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $343k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-56 ($-671/yr) — negative.
• To cash-flow at today's rent, offer at most $335k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $297k (13.5% below list).
• Recommended offer: $297k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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: W T Moore Elementary School (math 49% / reading 59%, grade C, #936 of 2,144 statewide, top 44%, 579 students, 42% FRL); Swift Creek Middle School (math 56% / reading 60%, grade B, #151 of 571 statewide, top 27%, 772 students, 33% FRL); Lincoln High School (math 37% / reading 54%, grade D-, #223 of 667 statewide, top 34%, 1,861 students, 28% FRL).
• Market conditions: 92 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 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 $2k of loan paydown is wiped out by about $10k 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 30 days — a 2% lower offer ($338k) is reasonable based on typical stale-listing flexibility.

Recommended offer $296,677 (13.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 0.87% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.70%
• DSCR: 0.97
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $452,905
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
409 Dartez Ct	0.12mi	3/2.5	1,670 (-12%)	4mo	$399,900	$239	72

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: -17.4%
• Equity multiple: 0.38×
• Total profit: $-59,065
• Equity at exit: $51,128

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-55,765
• Equity at exit: $29,648

Cash invested: $96,012 (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 32317

• Home prices YoY: -26.5%
• Active inventory: 92
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,967 medium
• Mortgage (P&I): −$1,798
• Tax est. 1.5%: −$429 /mo · $5,144/yr
• Insurance: −$143
• HOA: −$30
• Vacancy / Maint / Mgmt: −$623
• Net cashflow: $-56

Break-even live

Break-even rent $3,038

Max offer price $334,803

Occupancy floor 97%

Sensitivity live

Price	-10% $181	-5% $63	+0% $-56	+5% $-174	+10% $-293
Rent	-10% $-290	-5% $-173	+0% $-56	+5% $61	+10% $178
Rate	-1.0pp $117	-0.5pp $31	base $-56	+0.5pp $-145	+1.0pp $-235

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: $85,725
• Closing costs: $10,287
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3810 Buck Lake Rd Tallahassee, FL	2.0	2.0	1344	$1,889	$1.41	15d	1	0.38mi
308 Dahlonega Dr Tallahassee, FL	4.0	3.0	1881	$3,600	$1.91	23d	1	0.83mi

HOA detail

• Monthly dues: $30 · $360/yr

Listing history 17 events

1. 2026-06-22
   days on market $342,900 Active 30 DOM
2. 2026-06-18
   days on market $342,900 Active 27 DOM
3. 2026-06-17
   days on market $342,900 Active 26 DOM
4. 2026-06-16
   days on market $342,900 Active 25 DOM
5. 2026-06-15
   days on market $342,900 Active 24 DOM
6. 2026-06-14
   days on market $342,900 Active 22 DOM
7. 2026-06-10
   days on market $342,900 Active 19 DOM
8. 2026-06-09
   days on market $342,900 Active 18 DOM
9. 2026-06-08
   days on market $342,900 Active 17 DOM
10. 2026-06-07
    days on market $342,900 Active 16 DOM
11. 2026-06-05
    days on market $342,900 Active 13 DOM
12. 2026-06-03
    days on market $342,900 Active 12 DOM
13. 2026-06-02
    days on market $342,900 Active 11 DOM
14. 2026-06-01
    days on market $342,900 Active 10 DOM
15. 2026-05-31
    days on market $342,900 Active 9 DOM
16. 2026-05-30
    days on market $342,900 Active 8 DOM
17. 2026-05-22
    listed $342,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $35,601
• − Mortgage interest: −$19,208
• − Property taxes: −$5,144
• − Insurance: −$1,714
• − Repairs & maintenance: −$2,848
• − Management: −$2,848
• − HOA: −$360
• − Depreciation: −$9,975
• Taxable loss: −$6,496
• Est. tax savings @ 24.0%: +$1,559
• After-tax cash flow: $888/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.

Condition & rehab AI · 1 photo

Good 80/100 None rehab

This well-maintained townhome is move-in ready with a good condition score and minimal repairs needed. Upgrades to paint, landscaping, and flooring would significantly enhance its value.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Both Landscaping improvements — Enhances curb appeal and adds value
• Both New flooring in bathrooms and kitchen — Modern flooring improves aesthetics and is a high-ROI upgrade

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in bathrooms and kitchen — Modern flooring improves aesthetics and is a high-ROI upgrade ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• County: Leon County · 294,472 people
• City population: 294,472
• Metro: Tallahassee, FL
• Population (ZIP): 14,654
• Household income: $128,690
• Rent vs Own: 10.8% rent · 89.2% own
• Severe rent burden: 143.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Black 15% Hispanic / Latino 8% Two or more races 7% Asian 7%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3% Cuban 1%
• Common ancestry: Slovak 4% Lithuanian 2% Italian 2%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 89% English-only · Spanish 5% Other Asian/Pacific 3% Other Indo-European 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: ▼ -88.81%
• Current HPI: 246.3858
• 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

1 event — show timeline

• 2026-05-22 Listed $342,900 CATRS