2618 Faversham Dr · Tallahassee, FL 32303

$220,000

4 bd · 2.0 ba · 1,420 sqft · SingleFamily public records · 24 Days on market

Built 1982 0.29 ac lot Est $287k · 23% under

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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 +11.5/30.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• 1% rule +3.5/10.0
• DSCR +3.4/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Classic & cozy four bedroom, two bathroom home in popular Huntington Woods! This fantastic home has it all - Fresh interior paint throughout, plenty of entertaining space inside and out with an additional living space, 2016 Roof & HVAC, 2019 whole house re-pipe and Water Heater and plenty of privacy in the spacious and fenced backyard with a storage shed! Don't miss out on this move-in ready home before it is gone!

Key facts

• Spacious backyard
• Flat backyard
• Family room

Tags

• SEPARATE LIVING ROOM
• FAMILY ROOM
• FULLY FENCED BACKYARD
• FLAT BACKYARD
• SPACIOUS BACKYARD

Property features AI

Finance

• Financial info: For sale

Exterior

• Parking: Driveway
• Security: Fenced
• Utilities: Public maintained road (paved)
• Home design: Wood siding construction; Slab foundation; Lot approximately 0.29 acres
• Construction: Wood siding; Slab foundation
• Exterior features: Fully fenced yard; Paved public road access

Interior

• Kitchen: Refrigerator; Range; Oven; Microwave; Dishwasher; Icemaker; Disposal; Pantry
• Bedrooms: Bedroom 2 — 10x9; Bedroom 3 — 10x9; Bedroom 4 — 8x9
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Stall shower; Pantry; Split-bedroom layout; Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-73 ($-879/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $187k (15.1% below list).
• Recommended offer: $187k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: Rents rising (+3.1%/yr); 238 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 36% of the median local income ($62k/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 $2k of loan paydown is wiped out by about $7k 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 24 days — a 2% lower offer ($217k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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.
• Current owner paid $186k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,692 (15.1% 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. 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. 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?
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: 0.85% ✗
• Cap rate: 5.89%
• Cash-on-cash: -1.43%
• DSCR: 0.94
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $286,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2271 Wabash Trl	0.45mi	3/2.0 (-1)	1,415 (-0%)	2mo	$300,000	$212	72
3130 Joree Ln	0.24mi	3/2.0 (-1)	1,484 (+4%)	6mo	$229,000	$154	71
2282 Hunters Moon Trl	0.46mi	3/2.0 (-1)	1,422 (+0%)	8mo	$300,000	$211	67
2315 Flint Run	0.54mi	3/2.0 (-1)	1,404 (-1%)	2mo	$317,900	$226	66
3114 Mccord Blvd	0.44mi	3/2.0 (-1)	1,366 (-4%)	3mo	$270,000	$198	65
2939 Byington Cir	0.50mi	3/2.0 (-1)	1,440 (+1%)	6mo	$180,000	$125	65
1655 Summer Meadow Pl	0.57mi	3/2.0 (-1)	1,414 (-0%)	8mo	$300,000	$212	61
3182 S Fulmer Cir	0.64mi	3/2.0 (-1)	1,386 (-2%)	6mo	$280,000	$202	57
3127 Huntington Woods Blvd	0.28mi	3/2.0 (-1)	1,232 (-13%)	7mo	$175,000	$142	54
2309 Trimble Rd	0.58mi	3/2.0 (-1)	1,542 (+9%)	2mo	$280,000	$182	52
2236 Wabash Trl	0.47mi	3/2.0 (-1)	1,612 (+14%)	4mo	$315,000	$195	48
2287 Hunters Moon Trl	0.48mi	3/2.0 (-1)	1,584 (+12%)	8mo	$325,000	$205	47

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 · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.35×
• Total profit: $-40,046
• Equity at exit: $32,803

10-year hold

• IRR: -10.6%
• Equity multiple: 0.35×
• Total profit: $-39,770
• Equity at exit: $19,022

Cash invested: $61,600 (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 32303

• Rents YoY: 3.1%
• Active inventory: 238
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,867 high
• Mortgage (P&I): −$1,154
• Tax from tax record: −$303 /mo · $3,633/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $-73

Break-even live

Break-even rent $1,960

Max offer price $207,054

Occupancy floor 99%

Sensitivity live

Price	-10% $51	-5% $-11	+0% $-73	+5% $-136	+10% $-198
Rent	-10% $-221	-5% $-147	+0% $-73	+5% $0	+10% $74
Rate	-1.0pp $38	-0.5pp $-17	base $-73	+0.5pp $-130	+1.0pp $-188

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2626 Faversham Dr Tallahassee, FL	3.0	2.0	1440	$1,850	$1.28	14d	1	0.04mi
2052 Darnell Cir Unit B Tallahassee, FL	4.0	3.0	1300	$1,700	$1.31	21d	1	0.59mi
2498 Nugget Ln Tallahassee, FL	3.0	2.0	1200	$1,550	$1.29	21d	1	0.70mi
2406 Hartsfield Rd Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	21d	1	0.71mi
2660 Old Bainbridge Rd Tallahassee, FL	3.0	2.5	1196	$1,550	$1.30	21d	2	0.72mi
2403 Hartsfield Rd #602 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	14d	1	0.76mi
2403 Hartsfield Rd #602 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	21d	1	0.76mi
2419 Nugget Ln Tallahassee, FL	3.0	2.0	1212	$1,550	$1.28	14d	1	0.81mi
2677 Old Bainbridge Rd Tallahassee, FL	1.0–3.0	1.5–3.5	1395	$1,683	$1.21	14d	28	0.83mi
2412 Atlas Rd Tallahassee, FL	3.0	1.5	1081	$1,200	$1.11	21d	1	0.83mi
2227 Willie Vause Rd Unit B Tallahassee, FL	3.0	2.0	1650	$2,300	$1.39	21d	1	0.84mi
1729 Ray Rd Tallahassee, FL	3.0	1.0	1611	$3,400	$2.11	21d	1	0.84mi
2295 Del Carmel Way Tallahassee, FL	4.0	3.0	1802	$1,750	$0.97	14d	1	0.91mi
2295 Del Carmel Way Tallahassee, FL	4.0	3.0	1802	$1,750	$0.97	21d	1	0.91mi
3400 Old Bainbridge Rd #203 Tallahassee, FL	3.0	3.0	1368	$1,650	$1.21	21d	1	0.91mi
2350 Wanda Way Tallahassee, FL	2.0–3.0	1.0	861	$1,400	$1.63	21d	1	0.94mi
2281 Del Carmel Way Tallahassee, FL	3.0	3.0	1280	$1,599	$1.25	21d	1	0.94mi
2222 Del Carmel Way Tallahassee, FL	3.0	3.0	1280	$1,650	$1.29	14d	1	0.95mi
2222 Del Carmel Way Unit 2226 Tallahassee, FL	3.0	3.0	1280	$1,650	$1.29	21d	1	0.96mi
2022 Trimble Rd Apt 3 Tallahassee, FL	3.0	3.0	1192	$700	$0.59	21d	1	0.99mi
2022 Trimble Rd Apt 1 Tallahassee, FL	4.0	3.5	1841	$775	$0.42	14d	1	0.99mi
2022 Trimble Rd Apt 1 Tallahassee, FL	4.0	3.5	1841	$2,250	$1.22	21d	1	0.99mi
3348 Sugar Berry Way #1 Tallahassee, FL	3.0	3.0	1338	$1,500	$1.12	21d	1	1.01mi
1819 Salmon Dr Tallahassee, FL	4.0	2.0	1668	$1,700	$1.02	21d	1	1.04mi
2513 Colleen Dr Tallahassee, FL	4.0	4.0	1700	$2,690	$1.58	21d	1	1.11mi
2400 W Tharpe St Tallahassee, FL	4.0–5.0	4.0	1800	$1,800	$1.00	21d	1	1.15mi
2772 Westbrook Ct Tallahassee, FL	3.0	3.0	1325	$1,600	$1.21	14d	1	1.19mi
2520 Graves Rd #103 Tallahassee, FL	3.0	3.0	1216	$1,350	$1.11	21d	1	1.20mi
3380 Fred George Rd Tallahassee, FL	1.0–3.0	1.0–2.0	895	$1,700	$1.90	14d	9	1.23mi
3126 Okeeheepkee Rd Tallahassee, FL	3.0	2.0	1638	$2,900	$1.77	21d	1	1.26mi
2327 Parrot Ln Tallahassee, FL	3.0	2.0	1088	$1,300	$1.19	21d	1	1.31mi
2400 Fred Smith Rd #201 Tallahassee, FL	3.0	3.0	1353	$1,650	$1.22	21d	1	1.47mi

Listing history 24 events

1. 2026-06-18
   days on market $220,000 Active 24 DOM
2. 2026-06-17
   days on market $220,000 Active 23 DOM
3. 2026-06-16
   days on market $220,000 Active 22 DOM
4. 2026-06-15
   days on market $220,000 Active 21 DOM
5. 2026-06-14
   days on market $220,000 Active 19 DOM
6. 2026-06-10
   days on market $220,000 Active 16 DOM
7. 2026-06-09
   days on market $220,000 Active 15 DOM
8. 2026-06-08
   days on market $220,000 Active 14 DOM
9. 2026-06-07
   days on market $220,000 Active 13 DOM
10. 2026-06-05
    days on market $220,000 Active 10 DOM
11. 2026-06-03
    days on market $220,000 Active 9 DOM
12. 2026-06-02
    days on market $220,000 Active 8 DOM
13. 2026-06-01
    days on market $220,000 Active 7 DOM
14. 2026-05-31
    days on market $220,000 Active 6 DOM
15. 2026-05-30
    days on market $220,000 Active 5 DOM
16. 2026-05-25
    listed $220,000 Active
17. 2022-04-13
    soldstatus $186,000 Closed 430-char remark

    Show marketing remark (430 chars)

    Classic & cozy four bedroom, two bathroom home in popular Huntington Woods! This fantastic home has it all - Fresh interior paint throughout, plenty of entertaining space inside and out with an additional living space, 2016 Roof & HVAC, 2019 whole house re-pipe and Water Heater and plenty of privacy in the spacious and fenced backyard with a storage shed! Don't miss out on this move-in ready home before it is gone!

18. 2022-03-09
    listed Active Under Contract 430-char remark

    Show marketing remark (430 chars)

    Classic & cozy four bedroom, two bathroom home in popular Huntington Woods! This fantastic home has it all - Fresh interior paint throughout, plenty of entertaining space inside and out with an additional living space, 2016 Roof & HVAC, 2019 whole house re-pipe and Water Heater and plenty of privacy in the spacious and fenced backyard with a storage shed! Don't miss out on this move-in ready home before it is gone!

19. 2022-03-09
    listed $175,000 430-char remark

    Show marketing remark (430 chars)

    Classic & cozy four bedroom, two bathroom home in popular Huntington Woods! This fantastic home has it all - Fresh interior paint throughout, plenty of entertaining space inside and out with an additional living space, 2016 Roof & HVAC, 2019 whole house re-pipe and Water Heater and plenty of privacy in the spacious and fenced backyard with a storage shed! Don't miss out on this move-in ready home before it is gone!

20. 2017-05-19
    soldstatus $119,000 392-char remark

    Show marketing remark (392 chars)

    Newly renovated 4/2 in Huntington Woods! Brand new A/C, roof and water heater!!! New wood siding, fresh paint, new hand-scraped wood flooring, carpet and tile throughout, new stainless steel appliances! Home features an open living room, large master suite with walk-in closet, 20X11 enclosed garage, patio and large fenced-in back yard with storage shed. New granite countertops coming soon.

21. 2016-08-16
    listed $119,900 392-char remark

    Show marketing remark (392 chars)

    Newly renovated 4/2 in Huntington Woods! Brand new A/C, roof and water heater!!! New wood siding, fresh paint, new hand-scraped wood flooring, carpet and tile throughout, new stainless steel appliances! Home features an open living room, large master suite with walk-in closet, 20X11 enclosed garage, patio and large fenced-in back yard with storage shed. New granite countertops coming soon.

22. 2016-05-13
    soldstatus $58,800
23. 2016-03-01
    listed $58,800
24. 2006-09-29
    soldstatus $156,000

ⓘ 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: $3,633 · $303/mo
• Projected year-2 tax: $3,633 · $303/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 · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,403
• − Mortgage interest: −$12,323
• − Property taxes: −$3,633
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,792
• − Management: −$1,792
• − Depreciation: −$6,400
• Taxable loss: −$4,638
• Est. tax savings @ 24.0%: +$1,113
• After-tax cash flow: $234/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): 49,785
• Household income: $62,275
• Rent vs Own: 48.8% rent · 51.2% own
• Severe rent burden: 2919.0

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 0.63)
• Race & ethnicity: White 50% Black 34% Hispanic / Latino 8% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 2%
• Common ancestry: Slovak 2% Italian 1% Lithuanian 1%
• Foreign-born: 8% · Canada, Vietnam, China
• Languages at home: 89% English-only · Spanish 5% Arabic 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: ▼ -255.24%
• Current HPI: 241.3131
• Rent YoY: ▲ 3.12%
• 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

+41.0% since first listed

9 events — show timeline

• 2026-05-25 Listed $220,000 CATRS
• 2022-04-13 Sold (MLS) $186,000 CATRS
• 2022-03-09 Listed — CATRS
• 2022-03-09 Listed $175,000 CATRS
• 2017-05-19 Sold (MLS) $119,000 CATRS
• 2016-08-16 Listed $119,900 CATRS
• 2016-05-13 Sold (MLS) $58,800 CATRS
• 2016-03-01 Listed $58,800 CATRS
• 2006-09-29 Sold (Public Records) $156,000 Public Records

Property tax history

+16.7%/yr

Latest (2025): $3,633 · +2.6% YoY. Source: county tax records.