805 Cochran Dr · Tallahassee, FL 32301

$149,900

3 bd · 1.5 ba · 1,282 sqft · SingleFamily public records · 171 Days on market

Built 1961 10,018 sqft lot Est $213k · 30% 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 +22.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +5.8/10.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

INVESTOR SPECIAL!!! NEW HVAC UNIT 12/2025, GREAT RENTAL INCOME, INSPECTIONS AND 4PT AVAILABLE. This 3/2 in Apalachee Ridge rents for $1475/month. Currently occupied and rented month to month. Metal roof was installed in 2018. Hot water heater is 2015. Home inspection report available upon request. Sold as-is. Cash or renovation loans only.

Key facts

• Metal roof
• Hot water heater
• New hvac unit

Tags

• NEW HVAC UNIT
• METAL ROOF
• HOT WATER HEATER

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Carport with 1 space
• Home design: Single-story; Brick, block and concrete construction
• Construction: Brick, block and concrete construction
• Exterior features: Fully fenced; Paved road access

Interior

• Kitchen: Oven; Range
• Bedrooms: Bedroom 2 (10x11); Bedroom 3 (10x11); Additional bedroom (11x12)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Fully fenced yard

🏷️ Possibly a rental listed for sale. The $149,900 price doesn't fit this home's estimated sale value (~$212,812) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 (+4.2%/yr); 121 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,765 units permitted in Leon County in 2024 (975 in 5+ unit buildings).
• This rent runs 38% of the median local income ($51k/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 $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.

Negotiation context

• It's been on market 171 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 171 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1961 — 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: 1.08% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.44%
• DSCR: 1.33
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $212,812
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3010 Prospect St	0.33mi	3/2.0	1,264 (-1%)	1mo	$210,000	$166	80
3101 Prospect St	0.33mi	4/2.0 (+1)	1,255 (-2%)	7mo	$235,000	$187	68
2452 King St	0.47mi	2/1.0 (-1)	1,250 (-2%)	2mo	$125,000	$100	66
925 Splendor Rd	0.34mi	3/2.0	1,200 (-6%)	10mo	$230,000	$192	64
3222 Beacon St	0.47mi	3/1.5	1,341 (+5%)	11mo	$237,000	$177	62
2438 King St	0.50mi	3/1.0	1,143 (-11%)	2mo	$75,000	$66	56
2404 Dozier Dr	0.42mi	4/2.0 (+1)	1,221 (-5%)	12mo	$215,000	$176	55
3410 Laura St	0.67mi	3/1.0	1,232 (-4%)	8mo	$140,000	$114	54
2222 Pontiac Dr	0.54mi	3/1.0	1,315 (+3%)	19mo	$215,000	$163	53
3404 Mizell St	0.63mi	3/2.0	1,233 (-4%)	19mo	$201,000	$163	46
2115 Old Fort Dr	0.74mi	3/2.0	1,400 (+9%)	9mo	$273,500	$195	40
3415 Cornelia St	0.69mi	3/2.0	1,183 (-8%)	19mo	$155,000	$131	37

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 · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.86×
• Total profit: $-5,792
• Equity at exit: $22,351

10-year hold

• IRR: 7.3%
• Equity multiple: 1.58×
• Total profit: $24,364
• Equity at exit: $12,961

Cash invested: $41,972 (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 32301

• Rents YoY: 4.2%
• Active inventory: 121
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,615 high
• Mortgage (P&I): −$786
• Tax from tax record: −$167 /mo · $2,005/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $260

Break-even live

Break-even rent $1,286

Max offer price $149,900

Occupancy floor 79%

Sensitivity live

Price	-10% $345	-5% $303	+0% $260	+5% $218	+10% $175
Rent	-10% $133	-5% $197	+0% $260	+5% $324	+10% $388
Rate	-1.0pp $336	-0.5pp $298	base $260	+0.5pp $221	+1.0pp $182

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2873 Jim Lee Rd Tallahassee, FL	2.0	2.0	1000	$925	$0.93	22d	1	0.39mi
3005 S Meridian St Tallahassee, FL	3.0	1.0	998	$2,300	$2.30	22d	1	0.44mi
735 Putnam Dr #2 Tallahassee, FL	3.0	2.5	1396	$1,650	$1.18	15d	1	0.44mi
401 Putnam Dr Tallahassee, FL	1.0–2.0	1.0–2.0	766	$1,250	$1.63	22d	1	0.60mi
916 Saddle Creek Run Tallahassee, FL	4.0	2.0	1399	$1,750	$1.25	15d	1	0.83mi
2218 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	700	$1,200	$1.71	22d	7	0.84mi
2205 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	750	$1,225	$1.63	22d	1	0.84mi
2205 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	750	$1,225	$1.63	15d	9	0.84mi
3000 S Adams St Tallahassee, FL	1.0–3.0	1.0–3.0	884	$1,850	$2.09	22d	8	0.86mi
301 Gaile Ave Tallahassee, FL	3.0	1.0	1009	$1,400	$1.39	15d	1	0.91mi
418 Perkins St Tallahassee, FL	4.0	2.0	1497	$1,850	$1.24	22d	1	0.97mi
402 Perkins St Tallahassee, FL	4.0	2.0	1686	$1,850	$1.10	22d	1	0.99mi
1730 Beechwood Cir N Tallahassee, FL	2.0	2.5	1216	$1,500	$1.23	22d	1	1.04mi
4787 Cypress Brooke Way Tallahassee, FL	3.0	2.0	1220	$1,799	$1.47	22d	1	1.13mi
1412 Ramble Brk Unit C Tallahassee, FL	2.0	1.0	950	$1,050	$1.11	22d	1	1.24mi
1411 Lazy Brk Unit D Tallahassee, FL	2.0	1.0	950	$1,150	$1.21	22d	1	1.25mi
509 Famcee Ave Tallahassee, FL	3.0	2.0	1079	$1,700	$1.58	22d	1	1.26mi
2779 Blair Stone Ct Tallahassee, FL	3.0	2.5	1751	$2,200	$1.26	15d	1	1.36mi
1504 S Adams St #1 Tallahassee, FL	2.0	2.0	1088	$1,300	$1.19	15d	1	1.46mi

Listing history 18 events

1. 2026-06-18
   days on market $149,900 Active 171 DOM
2. 2026-06-17
   days on market $149,900 Active 170 DOM
3. 2026-06-16
   days on market $149,900 Active 169 DOM
4. 2026-06-15
   days on market $149,900 Active 168 DOM
5. 2026-06-14
   days on market $149,900 Active 166 DOM
6. 2026-06-10
   days on market $149,900 Active 163 DOM
7. 2026-06-09
   days on market $149,900 Active 162 DOM
8. 2026-06-08
   days on market $149,900 Active 161 DOM
9. 2026-06-07
   days on market $149,900 Active 160 DOM
10. 2026-06-05
    days on market $149,900 Active 157 DOM
11. 2026-06-03
    days on market $149,900 Active 156 DOM
12. 2026-06-02
    days on market $149,900 Active 155 DOM
13. 2026-06-01
    days on market $149,900 Active 154 DOM
14. 2026-05-31
    days on market $149,900 Active 153 DOM
15. 2026-05-30
    days on market $149,900 Active 152 DOM
16. 2025-12-29
    listed $149,900 Active
17. 2025-12-15
    historical
18. 2025-10-20
    listed $135,000 Active

ⓘ 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: $2,005 · $167/mo
• Projected year-2 tax: $2,005 · $167/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 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 4/10 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: $19,382
• − Mortgage interest: −$8,397
• − Property taxes: −$2,005
• − Insurance: −$750
• − Repairs & maintenance: −$1,551
• − Management: −$1,551
• − Depreciation: −$4,361
• Taxable income: $768
• Est. tax owed @ 24.0%: −$184
• After-tax cash flow: $2,939/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): 32,017
• Household income: $50,942
• Rent vs Own: 68.8% rent · 31.2% own
• Severe rent burden: 2625.0

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 49% White 38% Hispanic / Latino 6% Two or more races 6% Asian 3%
• Hispanic origin (detail): Puerto Rican 1% Cuban 1%
• Common ancestry: Slovak 2% Romanian 1% Lithuanian 1%
• Foreign-born: 7% · Canada, China, Vietnam
• Languages at home: 91% English-only · Spanish 4% Other Indo-European 1% 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: ▼ -231.50%
• Current HPI: 231.103
• Rent YoY: ▲ 4.16%
• 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

+11.0% since first listed

3 events — show timeline

• 2025-12-29 Listed $149,900 CATRS
• 2025-12-15 Listing Removed — CATRS
• 2025-10-20 Listed $135,000 CATRS

Property tax history

+8.7%/yr

Latest (2025): $2,005 · +11.0% YoY. Source: county tax records.