4121 Susan Ave · Tallahassee, FL 32305

$159,900

3 bd · 2.0 ba · 902 sqft · Land · 86 Days on market

Built 2025 0.36 ac lot

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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 +20.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• 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 MLS

* * BUILDER ALERT * * 1/3 acre lot in convenient Woodside Heights neighborhood. Start building today.

Key facts

• Spacious lot
• Ample cabinet space
• Outdoor space

Tags

• SPACIOUS LOT
• BRIGHT OPEN FLOOR PLAN
• FULLY EQUIPPED KITCHEN
• AMPLE CABINET SPACE
• OUTDOOR SPACE

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Driveway
• Home design: Single-story; Single wide mobile home
• Construction: Vinyl siding
• Exterior features: Deck; Partial fencing; Paved road access

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (8 x 13); Bedroom 3 (8 x 9)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Utility room; Living room; Family room; Dining room
• Laundry & utility: Utility room (11 x 13)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $160k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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.
• 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 42% 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 $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.

Negotiation context

• It's been on market 86 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $25k; list at $160k implies a 540% 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; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.04% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.60%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -7.6%
• Equity multiple: 0.72×
• Total profit: $-12,590
• Equity at exit: $23,842

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $6,259
• Equity at exit: $13,825

Cash invested: $44,772 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,663 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $209

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 82%

Sensitivity live

Price	-10% $319	-5% $264	+0% $209	+5% $154	+10% $98
Rent	-10% $77	-5% $143	+0% $209	+5% $274	+10% $340
Rate	-1.0pp $289	-0.5pp $249	base $209	+0.5pp $167	+1.0pp $125

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4768 Woodville Hwy Tallahassee, FL	1.0–3.0	1.0–2.0	1201	$1,600	$1.33	14d	1	0.74mi
301 Gaile Ave Tallahassee, FL	3.0	1.0	1009	$1,400	$1.39	14d	1	1.27mi

Listing history 21 events

1. 2026-06-18
   days on market $159,900 Active 86 DOM
2. 2026-06-17
   days on market $159,900 Active 85 DOM
3. 2026-06-16
   days on market $159,900 Active 84 DOM
4. 2026-06-15
   days on market $159,900 Active 83 DOM
5. 2026-06-14
   days on market $159,900 Active 81 DOM
6. 2026-06-10
   days on market $159,900 Active 78 DOM
7. 2026-06-09
   pricedays on market $159,900 Active 77 DOM
8. 2026-06-08
   days on market $164,900 Active 76 DOM
9. 2026-06-07
   days on market $164,900 Active 75 DOM
10. 2026-06-05
    days on market $164,900 Active 72 DOM
11. 2026-06-03
    days on market $164,900 Active 71 DOM
12. 2026-06-02
    days on market $164,900 Active 70 DOM
13. 2026-06-01
    days on market $164,900 Active 69 DOM
14. 2026-05-31
    days on market $164,900 Active 68 DOM
15. 2026-05-30
    days on market $164,900 Active 67 DOM
16. 2026-03-25
    listed $164,900 Active
17. 2025-09-19
    soldstatus $25,000 Closed 105-char remark

    Show marketing remark (105 chars)

    * * BUILDER ALERT * * 1/3 acre lot in convenient Woodside Heights neighborhood. Start building today.

18. 2025-09-17
    historical Contingent 105-char remark

    Show marketing remark (105 chars)

    * * BUILDER ALERT * * 1/3 acre lot in convenient Woodside Heights neighborhood. Start building today.

19. 2025-08-16
    status Active 105-char remark

    Show marketing remark (105 chars)

    * * BUILDER ALERT * * 1/3 acre lot in convenient Woodside Heights neighborhood. Start building today.

20. 2025-08-12
    historical Contingent 105-char remark

    Show marketing remark (105 chars)

    * * BUILDER ALERT * * 1/3 acre lot in convenient Woodside Heights neighborhood. Start building today.

21. 2025-06-13
    listed $30,000 Active 105-char remark

    Show marketing remark (105 chars)

    * * BUILDER ALERT * * 1/3 acre lot in convenient Woodside Heights neighborhood. Start building today.

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $19,956
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$1,596
• − Management: −$1,596
• − Depreciation: −$4,652
• Taxable loss: −$43
• Est. tax savings @ 24.0%: +$10
• After-tax cash flow: $2,515/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

• 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

+449.7% since first listed

6 events — show timeline

• 2026-03-25 Listed $164,900 CATRS
• 2025-09-19 Sold (MLS) $25,000 CATRS
• 2025-09-17 Contingent — CATRS
• 2025-08-16 Relisted — CATRS
• 2025-08-12 Contingent — CATRS
• 2025-06-13 Listed $30,000 CATRS