1973 Maymeadow Ln · Tallahassee, FL 32303

$245,000

3 bd · 3.0 ba · 1,832 sqft · Townhouse public records · 87 Days on market

Built 1998 3,484 sqft lot Est $288k · 15% 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 +14.2/15.0
• Cash flow +12.9/30.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• DSCR +3.9/10.0
• Rent growth +3.3/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great townhome with lots of space! This is a perfect home for students, young professionals, or as a rental investment. It has a large kitchen that overlooks a dining area and a living room with a cozy fireplace. A half bath is conveniently located on the main level for guests. There is a covered patio in the front and the fenced back yard has plenty of space to relax and entertain friends and family. The master bedroom is large and has its own double vanity bathroom. Updates include new dishwasher (July 2019), fridge (2019), stove (2018), garbage disposal (2018), dryer (2018), Nest thermostat (2018), and french doors (2019). Newer roof (2011) and HVAC (2008) too. Great location near I-10, shopping, and universities!

Key facts

• Large kitchen
• Covered patio
• Cozy fireplace

Tags

• LARGE KITCHEN
• COZY FIREPLACE
• COVERED PATIO

Property features AI

Finance

• Other: Offered for sale
• HOA & community: Curbs; Gutters

Exterior

• Parking: 1-car garage
• Utilities: Public water and sewer assumed; Electric service
• Home design: 2 stories; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Fully fenced yard; Publicly maintained road access

Interior

• Kitchen: Dishwasher; Disposal; Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (11x11); Bedroom 3 (11x15); Upper-level primary (dimensions not provided)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air; Ceiling fan(s); Electric cooling; Wood heating
• Interior features: Pantry; Upper-level primary bedroom; Walk-in closet(s); Fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $245k.

Deal economics

• At list price, monthly cash flow is $-18 ($-219/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (19.8% below list).
• Recommended offer: $197k (19.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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.
• Zoned schools: Astoria Park Elementary School (math 23% / reading 28%, grade F, #2,025 of 2,144 statewide, top 95%, 527 students, 80% FRL); Griffin Middle School (math 16% / reading 25%, grade F, #556 of 571 statewide, top 98%, 532 students, 77% FRL); Amos P. Godby High School (math 24% / reading 32%, grade F, #464 of 667 statewide, top 70%, 1,444 students, 63% FRL) — zoned schools average 74% FRL vs 45% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 25% at this address vs 50% district-wide (-26 pts) — the specific schools serving this property underperform the Leon average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+3.1%/yr); 238 active listings in the ZIP; 20 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 ($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 87 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 15y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $149k; list at $245k implies a 64% 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 $196,562 (19.8% 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. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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. 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?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.32%
• DSCR: 0.99
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $287,624
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2728 Summer Meadow Dr	0.56mi	3/2.5	1,841 (+0%)	12mo	$289,000	$157	61
1724 Summer Meadow Pl	0.62mi	3/2.5	1,930 (+5%)	11mo	$279,900	$145	51

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: -16.7%
• Equity multiple: 0.41×
• Total profit: $-40,671
• Equity at exit: $36,530

10-year hold

• IRR: -8.4%
• Equity multiple: 0.47×
• Total profit: $-36,120
• Equity at exit: $21,183

Cash invested: $68,600 (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: 10.4×

Monthly cashflow live

• Estimated rent: $1,966 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$184 /mo · $2,211/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $-18

Break-even live

Break-even rent $1,989

Max offer price $241,774

Occupancy floor 96%

Sensitivity live

Price	-10% $120	-5% $51	+0% $-18	+5% $-88	+10% $-157
Rent	-10% $-174	-5% $-96	+0% $-18	+5% $59	+10% $137
Rate	-1.0pp $105	-0.5pp $44	base $-18	+0.5pp $-82	+1.0pp $-146

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1819 Salmon Dr Tallahassee, FL	4.0	2.0	1668	$1,700	$1.02	23d	1	0.12mi
2513 Colleen Dr Tallahassee, FL	4.0	4.0	1700	$2,690	$1.58	23d	1	0.23mi
2052 Darnell Cir Unit B Tallahassee, FL	4.0	3.0	1300	$1,700	$1.31	23d	1	0.50mi
2400 Fred Smith Rd #201 Tallahassee, FL	3.0	3.0	1353	$1,650	$1.22	23d	1	0.52mi
2301 Old Bainbridge Rd Tallahassee, FL	2.0–3.0	1.0–2.0	1084	$1,600	$1.48	23d	1	0.55mi
2112 Great Oak Dr Tallahassee, FL	4.0	2.0	2098	$2,100	$1.00	23d	1	0.64mi
2677 Old Bainbridge Rd Tallahassee, FL	1.0–3.0	1.5–3.5	1395	$1,683	$1.21	15d	28	0.65mi
2400 W Tharpe St Tallahassee, FL	4.0–5.0	4.0	1800	$1,800	$1.00	23d	1	0.86mi
1560 San Luis Rd Tallahassee, FL	3.0	3.5	1500	$774	$0.52	23d	22	0.87mi
1325 W Tharpe St Tallahassee, FL	1.0–3.0	1.0–4.0	937	$1,676	$1.79	15d	21	1.08mi
3126 Okeeheepkee Rd Tallahassee, FL	3.0	2.0	1638	$2,900	$1.77	23d	1	1.08mi
1303 Ocala Rd Tallahassee, FL	1.0–4.0	1.0–2.0	1121	$1,445	$1.29	15d	48	1.12mi
2626 Faversham Dr Tallahassee, FL	3.0	2.0	1440	$1,850	$1.28	15d	1	1.12mi
1729 Ray Rd Tallahassee, FL	3.0	1.0	1611	$3,400	$2.11	23d	1	1.14mi
2022 Trimble Rd Apt 1 Tallahassee, FL	4.0	3.5	1841	$2,250	$1.22	23d	1	1.15mi
2022 Trimble Rd Apt 1 Tallahassee, FL	4.0	3.5	1841	$775	$0.42	15d	1	1.15mi
2060 Continental Ave Tallahassee, FL	1.0–3.0	1.0–2.5	1121	$1,185	$1.06	15d	26	1.22mi
2227 Willie Vause Rd Unit B Tallahassee, FL	3.0	2.0	1650	$2,300	$1.39	23d	1	1.34mi
832 Arkansas St Tallahassee, FL	3.0	1.0	1296	$1,400	$1.08	23d	1	1.44mi
2222 Del Carmel Way Tallahassee, FL	3.0	3.0	1280	$1,650	$1.29	15d	1	1.50mi

Listing history 38 events

1. 2026-06-22
   days on market $245,000 Active 87 DOM
2. 2026-06-18
   days on market $245,000 Active 84 DOM
3. 2026-06-17
   days on market $245,000 Active 83 DOM
4. 2026-06-16
   days on market $245,000 Active 82 DOM
5. 2026-06-15
   days on market $245,000 Active 81 DOM
6. 2026-06-14
   days on market $245,000 Active 79 DOM
7. 2026-06-10
   days on market $245,000 Active 76 DOM
8. 2026-06-09
   days on market $245,000 Active 75 DOM
9. 2026-06-08
   days on market $245,000 Active 74 DOM
10. 2026-06-07
    days on market $245,000 Active 73 DOM
11. 2026-06-05
    days on market $245,000 Active 70 DOM
12. 2026-06-03
    days on market $245,000 Active 69 DOM
13. 2026-06-02
    days on market $245,000 Active 68 DOM
14. 2026-06-01
    days on market $245,000 Active 67 DOM
15. 2026-05-31
    days on market $245,000 Active 66 DOM
16. 2026-05-30
    days on market $245,000 Active 65 DOM
17. 2026-05-22
    price $245,000
18. 2026-04-21
    price $260,000
19. 2026-03-26
    listed $265,000 Active
20. 2019-11-15
    soldstatus $149,000 726-char remark

    Show marketing remark (726 chars)

    Great townhome with lots of space! This is a perfect home for students, young professionals, or as a rental investment. It has a large kitchen that overlooks a dining area and a living room with a cozy fireplace. A half bath is conveniently located on the main level for guests. There is a covered patio in the front and the fenced back yard has plenty of space to relax and entertain friends and family. The master bedroom is large and has its own double vanity bathroom. Updates include new dishwasher (July 2019), fridge (2019), stove (2018), garbage disposal (2018), dryer (2018), Nest thermostat (2018), and french doors (2019). Newer roof (2011) and HVAC (2008) too. Great location near I-10, shopping, and universities!

21. 2019-11-15
    soldstatus $149,000

    Show marketing remark (726 chars)

    Great townhome with lots of space! This is a perfect home for students, young professionals, or as a rental investment. It has a large kitchen that overlooks a dining area and a living room with a cozy fireplace. A half bath is conveniently located on the main level for guests. There is a covered patio in the front and the fenced back yard has plenty of space to relax and entertain friends and family. The master bedroom is large and has its own double vanity bathroom. Updates include new dishwasher (July 2019), fridge (2019), stove (2018), garbage disposal (2018), dryer (2018), Nest thermostat (2018), and french doors (2019). Newer roof (2011) and HVAC (2008) too. Great location near I-10, shopping, and universities!

22. 2019-07-27
    listed $149,900 726-char remark

    Show marketing remark (726 chars)

    Great townhome with lots of space! This is a perfect home for students, young professionals, or as a rental investment. It has a large kitchen that overlooks a dining area and a living room with a cozy fireplace. A half bath is conveniently located on the main level for guests. There is a covered patio in the front and the fenced back yard has plenty of space to relax and entertain friends and family. The master bedroom is large and has its own double vanity bathroom. Updates include new dishwasher (July 2019), fridge (2019), stove (2018), garbage disposal (2018), dryer (2018), Nest thermostat (2018), and french doors (2019). Newer roof (2011) and HVAC (2008) too. Great location near I-10, shopping, and universities!

23. 2018-10-19
    historical
24. 2018-07-28
    listed $148,000
25. 2017-02-03
    soldstatus $132,000
26. 2017-02-03
    soldstatus $132,000
27. 2016-09-07
    listed $132,000
28. 2016-09-07
    historical
29. 2016-06-20
    listed $148,000
30. 2016-06-20
    historical
31. 2016-05-19
    listed $152,000
32. 2011-08-17
    soldstatus $114,000
33. 2011-08-16
    soldstatus $114,000
34. 2011-03-30
    listed $117,000
35. 2005-05-10
    soldstatus $158,000
36. 2003-03-17
    soldstatus $124,000
37. 2000-08-21
    soldstatus $115,500
38. 1998-05-04
    soldstatus $107,200

ⓘ 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: $2,211 · $184/mo
• Projected year-2 tax: $2,211 · $184/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 2/10 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 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,587
• − Mortgage interest: −$13,724
• − Property taxes: −$2,211
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,887
• − Management: −$1,887
• − Depreciation: −$7,127
• Taxable loss: −$4,473
• Est. tax savings @ 24.0%: +$1,074
• After-tax cash flow: $854/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

+128.5% since first listed

22 events — show timeline

• 2026-05-22 Price Changed $245,000 CATRS
• 2026-04-21 Price Changed $260,000 CATRS
• 2026-03-26 Listed $265,000 CATRS
• 2019-11-15 Sold (Public Records) $149,000 Public Records
• 2019-11-15 Sold (MLS) $149,000 CATRS
• 2019-07-27 Listed $149,900 CATRS
• 2018-10-19 Listing Removed — CATRS
• 2018-07-28 Listed $148,000 CATRS
• 2017-02-03 Sold (Public Records) $132,000 Public Records
• 2017-02-03 Sold (MLS) $132,000 CATRS
• 2016-09-07 Listing Removed — CATRS
• 2016-09-07 Listed $132,000 CATRS
• 2016-06-20 Listing Removed — CATRS
• 2016-06-20 Listed $148,000 CATRS
• 2016-05-19 Listed $152,000 CATRS
• 2011-08-17 Sold (Public Records) $114,000 Public Records
• 2011-08-16 Sold (MLS) $114,000 CATRS
• 2011-03-30 Listed $117,000 CATRS
• 2005-05-10 Sold (Public Records) $158,000 Public Records
• 2003-03-17 Sold (Public Records) $124,000 Public Records
• 2000-08-21 Sold (Public Records) $115,500 Public Records
• 1998-05-04 Sold (Public Records) $107,200 Public Records

Property tax history

+7.1%/yr

Latest (2025): $2,211 · +3.4% YoY. Source: county tax records.