317 Mabry Street St #611 · Tallahassee, FL 32304

$65,000

2 bd · 1.0 ba · 808 sqft · Condo public records · 58 Days on market

Built 1984 $275/mo HOA · 24% of rent

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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 +28.1/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Mystic Woods Condominium~ unit on the ground floor unit 611~ nice and clean~ 2 bed & 1 bath~ dryer & washer included ~gas oven/ range~ Open floor plan looking over the living room from the kitchen~ sliding door to the front porch for an entertainment family gather ~ screened front porch entrance~ Close distance to Colleges~ great unit for students, small family or investor~ Seller very motivated to sell!

Key facts

• Community pool
• Brand-new roof
• $275 HOA

Tags

• BRAND-NEW ROOF
• COMMUNITY POOL
• QUIET TREE-LINED COMMUNITY
• WELL-MAINTAINED SETTING

Property features AI

Finance

• HOA & community: Monthly association fee of $275; Has homeowners association; Not a senior community

Exterior

• Parking: Additional unassigned parking
• Utilities: Cable connected; Water connected; Sewer available
• Home design: Condominium; Single-story
• Exterior features: No private pool; Property is attached

Interior

• Kitchen: Dishwasher; Electric range; Gas range; Freezer; Ice maker
• Bedrooms: 2 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air
• Interior features: Furnished; 2 total rooms
• Laundry & utility: Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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.
• Market conditions: Rents rising fast (+4.7%/yr); 142 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 43% of the median local income ($32k/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 $449 of loan paydown is wiped out by about $2k 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 + 4.7% rent growth), your $18k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $65k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• 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 $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% 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. 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 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: 1.79% ✓
• Cap rate: 10.06%
• Cash-on-cash: 13.47%
• DSCR: 1.60
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.69% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.26×
• Total profit: $4,669
• Equity at exit: $9,692

10-year hold

• IRR: 17.9%
• Equity multiple: 2.65×
• Total profit: $30,097
• Equity at exit: $5,620

Cash invested: $18,200 (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 32304

• Home prices YoY: -21.2%
• Rents YoY: 4.7%
• Active inventory: 142
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,164 high
• Mortgage (P&I): −$341
• Tax from tax record: −$72 /mo · $864/yr
• Insurance: −$27
• HOA: −$275
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $204

Break-even live

Break-even rent $905

Max offer price $65,000

Occupancy floor 77%

Sensitivity live

Price	-10% $241	-5% $223	+0% $204	+5% $186	+10% $167
Rent	-10% $112	-5% $158	+0% $204	+5% $250	+10% $296
Rate	-1.0pp $237	-0.5pp $221	base $204	+0.5pp $187	+1.0pp $170

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
317 Mabry St Tallahassee, FL	2.0	1.0	808	$898	$1.11	22d	1	0.07mi
2202 W Pensacola St Tallahassee, FL	1.0–3.0	1.0	950	$1,224	$1.29	22d	3	0.16mi
205 White Dr Tallahassee, FL	1.0–4.0	1.0–4.0	1155	$637	$0.55	22d	1	0.25mi
218 White Dr Tallahassee, FL	1.0	1.0	660	$995	$1.51	22d	1	0.28mi
214 White Dr Unit F Tallahassee, FL	1.0	1.0	656	$1,200	$1.83	22d	1	0.28mi
2416 Jackson Bluff Rd Tallahassee, FL	1.0	1.0	540	$800	$1.48	22d	1	0.34mi
316 Ausley Rd Tallahassee, FL	1.0–4.0	1.0–2.0	750	$798	$1.06	14d	8	0.41mi
103 Cactus St Tallahassee, FL	2.0–4.0	1.0–2.0	1000	$1,195	$1.20	14d	3	0.45mi
2131 Jackson Bluff Rd Tallahassee, FL	2.0	2.0	1043	$1,257	$1.21	14d	3	0.53mi
2125 Jackson Bluff Rd Tallahassee, FL	1.0–3.0	1.0–2.0	975	$1,172	$1.20	22d	4	0.55mi
2349 Horne Ave Unit C Tallahassee, FL	2.0	1.0	680	$1,100	$1.62	14d	1	0.63mi
2350 Horne Ave Unit 2 Tallahassee, FL	2.0	2.0	800	$995	$1.24	22d	1	0.66mi
301 S Lipona Rd #24 Tallahassee, FL	2.0	1.5	896	$1,350	$1.51	22d	1	0.72mi
1854 Belle Vue Way Tallahassee, FL	2.0–4.0	1.0–2.0	1100	$1,235	$1.12	22d	1	0.77mi
930 S Lipona Rd Unit D Tallahassee, FL	2.0	2.0	896	$1,295	$1.45	22d	1	0.86mi
220 Atkinson Dr Unit D Tallahassee, FL	2.0	1.0	928	$1,100	$1.19	22d	1	0.88mi
2353 W Mission Rd Tallahassee, FL	2.0–3.0	2.0–2.5	1012	$1,250	$1.23	14d	11	0.91mi
394 Prince St Unit 394-PRI Tallahassee, FL	1.0	1.0	600	$1,250	$2.08	22d	1	0.98mi
1001 Ocala Rd Tallahassee, FL	4.0	1.0–2.0	899	$584	$0.65	22d	6	1.00mi
322 Conradi St Tallahassee, FL	3.0	2.0	1100	$1,950	$1.77	22d	4	1.14mi
2614 W Tennessee St Tallahassee, FL	1.0–4.0	1.0–4.0	1270	$1,159	$0.91	22d	14	1.14mi
1643 Sharkey St Tallahassee, FL	3.0	1.0	912	$1,350	$1.48	22d	1	1.18mi
1606 Airport Dr Tallahassee, FL	3.0	2.0	1008	$1,395	$1.38	22d	1	1.21mi
2060 Continental Ave Tallahassee, FL	1.0–3.0	1.0–2.5	1121	$1,052	$0.94	14d	26	1.24mi
2616 Mission Rd Tallahassee, FL	1.0–2.0	1.0	750	$1,195	$1.59	14d	12	1.29mi
2020 Continental Ave Tallahassee, FL	1.0–2.0	1.0–1.5	850	$1,300	$1.53	22d	3	1.29mi
1313 Airport Dr Unit DRE6 Tallahassee, FL	1.0	1.5	1100	$1,300	$1.18	14d	1	1.31mi
1303 Ocala Rd Tallahassee, FL	1.0–4.0	1.0–2.0	1121	$1,320	$1.18	14d	48	1.33mi
1303 Airport Dr Unit A08 Tallahassee, FL	2.0	2.5	1083	$1,475	$1.36	22d	1	1.34mi
1426 Pepper Dr Tallahassee, FL	2.0	1.0	858	$1,250	$1.46	22d	1	1.38mi
1111 High Rd Tallahassee, FL	2.0–3.0	2.0	1000	$1,409	$1.41	14d	11	1.39mi
1360 Ocala Rd Tallahassee, FL	2.0	1.0	800	$1,000	$1.25	22d	1	1.39mi
1380 Ocala Rd Tallahassee, FL	1.0	1.0	700	$975	$1.39	22d	1	1.39mi
1108 Greentree Ct Tallahassee, FL	2.0	2.0	888	$1,275	$1.44	22d	1	1.41mi
810 Wadsworth St Tallahassee, FL	1.0	1.0	600	$1,123	$1.87	14d	2	1.41mi
1616 McCaskill Ave Tallahassee, FL	1.0–2.0	1.0	750	$969	$1.29	22d	43	1.42mi
1410 Nylic St Unit B Tallahassee, FL	2.0	1.0	550	$900	$1.64	14d	1	1.44mi
1632 Highland St Apt 9 Tallahassee, FL	1.0	1.0	600	$825	$1.38	14d	1	1.46mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-10
   days on market $65,000 Active 58 DOM
2. 2026-06-09
   days on market $65,000 Active 57 DOM
3. 2026-06-08
   days on market $65,000 Active 56 DOM
4. 2026-06-07
   days on market $65,000 Active 55 DOM
5. 2026-06-05
   days on market $65,000 Active 52 DOM
6. 2026-06-03
   days on market $65,000 Active 51 DOM
7. 2026-06-02
   days on market $65,000 Active 50 DOM
8. 2026-06-01
   days on market $65,000 Active 49 DOM
9. 2026-05-31
   days on market $65,000 Active 48 DOM
10. 2026-05-30
    days on market $65,000 Active 47 DOM
11. 2026-05-24
    price $65,000
12. 2026-05-12
    price $67,000
13. 2026-05-03
    price $69,000
14. 2026-04-24
    price $72,000
15. 2026-04-13
    listed $75,000 Active
16. 2026-03-30
    soldstatus $42,000
17. 2026-03-25
    soldstatus $42,000 Closed 419-char remark

    Show marketing remark (419 chars)

    Mystic Woods Condominium~ unit on the ground floor unit 611~ nice and clean~ 2 bed & 1 bath~ dryer & washer included ~gas oven/ range~ Open floor plan looking over the living room from the kitchen~ sliding door to the front porch for an entertainment family gather ~ screened front porch entrance~ Close distance to Colleges~ great unit for students, small family or investor~ Seller very motivated to sell!

18. 2026-03-22
    historical Active Under Contract 419-char remark

    Show marketing remark (419 chars)

    Mystic Woods Condominium~ unit on the ground floor unit 611~ nice and clean~ 2 bed & 1 bath~ dryer & washer included ~gas oven/ range~ Open floor plan looking over the living room from the kitchen~ sliding door to the front porch for an entertainment family gather ~ screened front porch entrance~ Close distance to Colleges~ great unit for students, small family or investor~ Seller very motivated to sell!

19. 2026-02-19
    price $63,000

    Show marketing remark (419 chars)

    Mystic Woods Condominium~ unit on the ground floor unit 611~ nice and clean~ 2 bed & 1 bath~ dryer & washer included ~gas oven/ range~ Open floor plan looking over the living room from the kitchen~ sliding door to the front porch for an entertainment family gather ~ screened front porch entrance~ Close distance to Colleges~ great unit for students, small family or investor~ Seller very motivated to sell!

20. 2026-02-19
    historical

    Show marketing remark (419 chars)

    Mystic Woods Condominium~ unit on the ground floor unit 611~ nice and clean~ 2 bed & 1 bath~ dryer & washer included ~gas oven/ range~ Open floor plan looking over the living room from the kitchen~ sliding door to the front porch for an entertainment family gather ~ screened front porch entrance~ Close distance to Colleges~ great unit for students, small family or investor~ Seller very motivated to sell!

21. 2026-02-19
    listed $63,000 Active 419-char remark

    Show marketing remark (419 chars)

    Mystic Woods Condominium~ unit on the ground floor unit 611~ nice and clean~ 2 bed & 1 bath~ dryer & washer included ~gas oven/ range~ Open floor plan looking over the living room from the kitchen~ sliding door to the front porch for an entertainment family gather ~ screened front porch entrance~ Close distance to Colleges~ great unit for students, small family or investor~ Seller very motivated to sell!

22. 2025-11-20
    price $68,000
23. 2025-11-14
    status Active
24. 2025-11-04
    historical Contingent
25. 2025-10-19
    listed $75,000 Active
26. 2015-05-22
    soldstatus $42,000
27. 2015-04-20
    soldstatus $42,000
28. 2015-03-03
    listed $43,500

ⓘ 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: $864 · $72/mo
• Projected year-2 tax: $864 · $72/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 1/10 Low
• 🌡 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: $13,963
• − Mortgage interest: −$3,641
• − Property taxes: −$864
• − Insurance: −$325
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − HOA: −$3,300
• − Depreciation: −$1,891
• Taxable income: $1,708
• Est. tax owed @ 24.0%: −$410
• After-tax cash flow: $2,041/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): 51,673
• Household income: $32,348
• Rent vs Own: 86.5% rent · 13.5% own
• Severe rent burden: 6995.0

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 0.65)
• Race & ethnicity: White 45% Black 36% Hispanic / Latino 10% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 2%
• Common ancestry: Romanian 2% Lithuanian 1% Italian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 86% English-only · Spanish 7% Other Indo-European 2% 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: ▼ -72.04%
• Current HPI: 267.8426
• Rent YoY: ▲ 4.69%
• 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

+49.4% since first listed

18 events — show timeline

• 2026-05-24 Price Changed $65,000 realMLS
• 2026-05-12 Price Changed $67,000 realMLS
• 2026-05-03 Price Changed $69,000 realMLS
• 2026-04-24 Price Changed $72,000 realMLS
• 2026-04-13 Listed $75,000 realMLS
• 2026-03-30 Sold (Public Records) $42,000 Public Records
• 2026-03-25 Sold (MLS) $42,000 CATRS
• 2026-03-22 Contingent — CATRS
• 2026-02-19 Price Changed $63,000 CATRS
• 2026-02-19 Listed $63,000 CATRS
• 2026-02-19 Listing Removed — CATRS
• 2025-11-20 Price Changed $68,000 CATRS
• 2025-11-14 Relisted — CATRS
• 2025-11-04 Contingent — CATRS
• 2025-10-19 Listed $75,000 CATRS
• 2015-05-22 Sold (Public Records) $42,000 Public Records
• 2015-04-20 Sold (MLS) $42,000 CATRS
• 2015-03-03 Listed $43,500 CATRS

Property tax history

+3.6%/yr

Latest (2025): $864 · +4.4% YoY. Source: county tax records.