3000 S Adams St #213 · Tallahassee, FL 32301

$98,900

2 bd · 2.0 ba · 1,037 sqft · Condo public records · 49 Days on market

Built 2005 $262/mo HOA · 18% of rent ↓ 19% since listing

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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 +24.9/30.0
• 1% rule +9.6/10.0
• DSCR +8.1/10.0
• ARV discount +7.5/15.0
• 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 MLS

Upgraded 2bed/2bath condo unit in popular condo community of The Point at Adams Place. Just a short drive to FAMU, downtown, FSU, Capital Circle and more. Ceramic tile flooring throughout living area. Stainless steel appliances. Good sized bedrooms and closets. The amenities in the community include a sparkling pool with a large pool deck great for cooling off in the warm Tallahassee weather. There is also a huge club house with pool tables, ping pong table, a lounge area with kitchen and big screen TV, as well as a business/study center that has computers and printer. Would make a great property to put your college student in or to purchase as a rental property.

Key facts

• $262 HOA
• Community pool
• Built 2005

Property features AI

Finance

• HOA & community: Monthly association fee (includes common areas, structure maintenance, pool(s), trash); Community features: gated access, pool, street lights, sidewalks

Exterior

• Parking: Parking space(s)
• Security: Gated community
• Utilities: Public sewer
• Home design: Brick construction; Located in a gated community
• Construction: Brick exterior
• Exterior features: Paved road access; In-ground community pool

Interior

• Kitchen: Refrigerator; Stove; Microwave; Dishwasher
• Bedrooms: Bedroom 2 (11 x 12)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Pantry; Walk-in closet(s)
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 fast (+4.2%/yr); 121 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 34% 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 $684 of loan paydown is wiped out by about $3k 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 + 4.2% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 21y 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 $41k; list at $99k implies a 141% 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; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,933 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
9. 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.
10. 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.
11. 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: 1.46% ✓
• Cap rate: 8.87%
• Cash-on-cash: 9.21%
• DSCR: 1.41
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.16% rent growth · sell at horizon

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-609
• Equity at exit: $14,746

10-year hold

• IRR: 10.7%
• Equity multiple: 1.89×
• Total profit: $24,774
• Equity at exit: $8,551

Cash invested: $27,692 (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: 5.7×

Monthly cashflow live

• Estimated rent: $1,446 high
• Mortgage (P&I): −$519
• Tax from tax record: −$108 /mo · $1,292/yr
• Insurance: −$41
• HOA: −$262
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $213

Break-even live

Break-even rent $1,177

Max offer price $98,900

Occupancy floor 80%

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3000 S Adams St Tallahassee, FL	1.0–3.0	1.0–3.0	884	$1,425	$1.61	21d	8	0.16mi
3005 S Meridian St Tallahassee, FL	3.0	1.0	998	$2,300	$2.30	21d	1	0.49mi
509 Famcee Ave Tallahassee, FL	3.0	2.0	1079	$1,700	$1.58	21d	1	0.62mi
401 Putnam Dr Tallahassee, FL	1.0–2.0	1.0–2.0	766	$1,250	$1.63	21d	1	0.73mi
301 Gaile Ave Tallahassee, FL	3.0	1.0	1009	$1,400	$1.39	13d	1	0.80mi
2205 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	750	$1,225	$1.63	21d	1	0.96mi
2205 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	750	$1,225	$1.63	13d	9	0.96mi
2218 Magnolia Cir Tallahassee, FL	1.0–2.0	1.0–2.0	700	$1,200	$1.71	21d	7	0.97mi
735 Putnam Dr #2 Tallahassee, FL	3.0	2.5	1396	$1,650	$1.18	13d	1	1.02mi
635 Palm Beach St Apt 125 Tallahassee, FL	2.0	2.0	900	$900	$1.00	21d	1	1.06mi
900 Taylor St Unit B Tallahassee, FL	1.0	1.0	864	$1,000	$1.16	21d	1	1.14mi
3178 N Ridge Rd Apt A Tallahassee, FL	2.0	2.0	995	$1,350	$1.36	13d	1	1.16mi
643 Kissimmee St Tallahassee, FL	2.0	1.0	800	$1,595	$1.99	21d	1	1.17mi
1737 S M L King Jr Blvd Tallahassee, FL	3.0	1.0	701	$1,450	$2.07	21d	1	1.19mi
2873 Jim Lee Rd Tallahassee, FL	2.0	2.0	1000	$925	$0.93	21d	1	1.31mi
1533 S Bronough St Tallahassee, FL	2.0	1.0	750	$1,150	$1.53	13d	1	1.41mi
1504 S Adams St #1 Tallahassee, FL	2.0	2.0	1088	$1,300	$1.19	13d	1	1.47mi

HOA detail condo

• Monthly dues: $262 · $3,144/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $98,900 Active 49 DOM
2. 2026-06-17
   days on market $98,900 Active 48 DOM
3. 2026-06-16
   days on market $98,900 Active 47 DOM
4. 2026-06-15
   days on market $98,900 Active 46 DOM
5. 2026-06-14
   days on market $98,900 Active 44 DOM
6. 2026-06-10
   days on market $98,900 Active 41 DOM
7. 2026-06-09
   days on market $98,900 Active 40 DOM
8. 2026-06-08
   days on market $98,900 Active 39 DOM
9. 2026-06-07
   days on market $98,900 Active 38 DOM
10. 2026-06-05
    days on market $98,900 Active 35 DOM
11. 2026-06-03
    days on market $98,900 Active 34 DOM
12. 2026-06-02
    days on market $98,900 Active 33 DOM
13. 2026-06-01
    days on market $98,900 Active 32 DOM
14. 2026-05-31
    days on market $98,900 Active 31 DOM
15. 2026-05-30
    days on market $98,900 Active 30 DOM
16. 2026-04-30
    listed $98,900 Active
17. 2016-08-17
    soldstatus $41,000
18. 2016-08-16
    soldstatus $40,500 671-char remark

    Show marketing remark (671 chars)

    Upgraded 2bed/2bath condo unit in popular condo community of The Point at Adams Place. Just a short drive to FAMU, downtown, FSU, Capital Circle and more. Ceramic tile flooring throughout living area. Stainless steel appliances. Good sized bedrooms and closets. The amenities in the community include a sparkling pool with a large pool deck great for cooling off in the warm Tallahassee weather. There is also a huge club house with pool tables, ping pong table, a lounge area with kitchen and big screen TV, as well as a business/study center that has computers and printer. Would make a great property to put your college student in or to purchase as a rental property.

19. 2015-10-02
    listed $42,000 671-char remark

    Show marketing remark (671 chars)

    Upgraded 2bed/2bath condo unit in popular condo community of The Point at Adams Place. Just a short drive to FAMU, downtown, FSU, Capital Circle and more. Ceramic tile flooring throughout living area. Stainless steel appliances. Good sized bedrooms and closets. The amenities in the community include a sparkling pool with a large pool deck great for cooling off in the warm Tallahassee weather. There is also a huge club house with pool tables, ping pong table, a lounge area with kitchen and big screen TV, as well as a business/study center that has computers and printer. Would make a great property to put your college student in or to purchase as a rental property.

20. 2012-03-30
    soldstatus $48,300 329-char remark

    Show marketing remark (329 chars)

    2 bedroom, 2 bathroom tenant-occupied condo walking distance to downtown, FAMU, Post Office, Public Library & Winn Dixie Grocery Store. Bike to FSU. Amenities include Community Pool, Movie Theatre, Lounge, Game room, computer study room w/ printers and internet, fitness ctr & Conf Rm. Each room rents for $485/month.

21. 2012-02-17
    listed $48,300 329-char remark

    Show marketing remark (329 chars)

    2 bedroom, 2 bathroom tenant-occupied condo walking distance to downtown, FAMU, Post Office, Public Library & Winn Dixie Grocery Store. Bike to FSU. Amenities include Community Pool, Movie Theatre, Lounge, Game room, computer study room w/ printers and internet, fitness ctr & Conf Rm. Each room rents for $485/month.

22. 2007-07-02
    soldstatus $133,540
23. 2006-08-08
    listed $134,540
24. 2006-02-28
    historical
25. 2005-11-14
    listed $121,400

ⓘ 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: $1,292 · $108/mo
• Projected year-2 tax: $1,292 · $108/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 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 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: $17,348
• − Mortgage interest: −$5,540
• − Property taxes: −$1,292
• − Insurance: −$494
• − Repairs & maintenance: −$1,388
• − Management: −$1,388
• − HOA: −$3,144
• − Depreciation: −$2,877
• Taxable income: $1,225
• Est. tax owed @ 24.0%: −$294
• After-tax cash flow: $2,257/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

-18.5% since first listed

10 events — show timeline

• 2026-04-30 Listed $98,900 CATRS
• 2016-08-17 Sold (Public Records) $41,000 Public Records
• 2016-08-16 Sold (MLS) $40,500 CATRS
• 2015-10-02 Listed $42,000 CATRS
• 2012-03-30 Sold (MLS) $48,300 CATRS
• 2012-02-17 Listed $48,300 CATRS
• 2007-07-02 Sold (MLS) $133,540 CATRS
• 2006-08-08 Listed $134,540 CATRS
• 2006-02-28 Listing Removed — CATRS
• 2005-11-14 Listed $121,400 CATRS

Property tax history

+5.1%/yr

Latest (2025): $1,292 · +9.8% YoY. Source: county tax records.