2612 Rippee Rd · Tallahassee, FL 32303

$219,900

3 bd · 1.5 ba · 1,534 sqft · SingleFamily public records · 104 Days on market

Built 1967 0.28 ac lot Est $275k · 20% 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 +13.2/30.0
• Schools +4.3/10.0
• Livability +4.3/5.0
• DSCR +4.0/10.0
• 1% rule +3.5/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Move-In Ready, Solid Concrete Block, 3 Bedroom/1.5 Bathroom Home with Updates! Nice and Bright, the floorplan offers a living room, generously sized family room, and formal dining room. The Kitchen has freshly painted cabinets and new pretty countertops and appliances. The master bedroom has an updated half bathroom and the home shares a renovated sleek and modern Full bathroom with a Large walk-in shower. There is also an interior laundry room to make the household chores easier and more comfortable. As you step out of the back door, there is a cozy screened porch looking out into the large backyard. A Storage shed with a new roof is in place and perfect for any additional storage needs. This home is one you do not want to miss! Roof 2015, New HVAC 2022, All New Windows 2022. Nothing to do here but move in!

Key facts

• Private half bath
• Screened back porch
• Fenced yard

Tags

• FENCED YARD
• MULTIPLE LIVING AREAS
• PRIVATE HALF BATH
• INSIDE LAUNDRY
• SCREENED BACK PORCH
• STORAGE SHED

Property features AI

Finance

• Financial info: For sale

Exterior

• Parking: Driveway
• Utilities: Public maintained paved road access
• Home design: Single-story; Block and concrete construction
• Construction: Block and concrete construction
• Exterior features: Fully fenced yard; Covered patio/porch; Patio; Porch; Screened porch

Interior

• Kitchen: Oven; Range; Microwave; Refrigerator
• Bedrooms: Bedroom 2 (12x11); Bedroom 3 (11x11)
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Window treatments; Screened porch
• Laundry & utility: Washer; Dryer; Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $220k.

Deal economics

• At list price, monthly cash flow is $-6 ($-66/yr) — negative.
• To cash-flow at today's rent, offer at most $219k (0.4% 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 6.3% 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; 6 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 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 104 days — a 9% lower offer ($200k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 6y 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 $190k; 16% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $186,693 (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. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 6.26%
• Cash-on-cash: -0.11%
• DSCR: 1.00
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $274,586
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2648 Onyx Trl	0.27mi	3/2.0	1,564 (+2%)	4mo	$249,900	$160	79
2610 Hastings Dr	0.07mi	3/2.0	1,372 (-11%)	3mo	$245,000	$179	75
2617 Onyx Trl	0.14mi	3/1.5	1,714 (+12%)	5mo	$236,000	$138	69
3839 Mcfarlane Dr	0.30mi	3/2.0	1,353 (-12%)	3mo	$280,000	$207	62
2756 Mcfarlane Ct	0.39mi	3/2.0	1,353 (-12%)	2mo	$263,000	$194	59
3925 Wiggington Rd	0.62mi	3/2.0	1,624 (+6%)	2mo	$232,500	$143	58
2702 Setter Pl	0.69mi	4/2.0 (+1)	1,583 (+3%)	3mo	$275,000	$174	53
2774 Westbury Dr	0.40mi	3/2.0	1,310 (-15%)	4mo	$250,000	$191	51
2105 Harriet Dr	0.53mi	3/2.0	1,371 (-11%)	6mo	$230,000	$168	50
4224 Carnwath Rd	0.65mi	3/2.0	1,712 (+12%)	5mo	$275,000	$161	44
2981 Teton Trl	0.74mi	3/2.0	1,352 (-12%)	1mo	$260,000	$192	42
4276 Carnwath Rd	0.63mi	3/2.0	1,330 (-13%)	5mo	$250,000	$188	42

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: -16.4%
• Equity multiple: 0.42×
• Total profit: $-35,756
• Equity at exit: $32,788

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-30,646
• Equity at exit: $19,013

Cash invested: $61,572 (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): −$1,153
• Tax from tax record: −$236 /mo · $2,827/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $-6

Break-even live

Break-even rent $1,874

Max offer price $218,921

Occupancy floor 95%

Sensitivity live

Price	-10% $119	-5% $57	+0% $-6	+5% $-68	+10% $-130
Rent	-10% $-153	-5% $-79	+0% $-6	+5% $68	+10% $142
Rate	-1.0pp $105	-0.5pp $50	base $-6	+0.5pp $-63	+1.0pp $-120

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: $54,975
• Closing costs: $6,597
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3380 Fred George Rd Tallahassee, FL	1.0–3.0	1.0–2.0	895	$1,700	$1.90	15d	9	0.30mi
3400 Old Bainbridge Rd #203 Tallahassee, FL	3.0	3.0	1368	$1,650	$1.21	22d	1	0.64mi
4234 Augustus Oak Ct Unit 4234 Tallahassee, FL	3.0	3.5	1504	$1,600	$1.06	22d	1	1.22mi
1729 Ray Rd Tallahassee, FL	3.0	1.0	1611	$3,400	$2.11	22d	1	1.33mi
4910 N Monroe St Tallahassee, FL	1.0–3.0	1.0–2.0	1315	$1,709	$1.30	15d	5	1.34mi
3348 Sugar Berry Way #1 Tallahassee, FL	3.0	3.0	1338	$1,500	$1.12	22d	1	1.42mi

Listing history 34 events

1. 2026-06-18
   days on market $219,900 Active 104 DOM
2. 2026-06-17
   days on market $219,900 Active 103 DOM
3. 2026-06-16
   days on market $219,900 Active 102 DOM
4. 2026-06-15
   days on market $219,900 Active 101 DOM
5. 2026-06-14
   days on market $219,900 Active 99 DOM
6. 2026-06-10
   days on market $219,900 Active 96 DOM
7. 2026-06-09
   days on market $219,900 Active 95 DOM
8. 2026-06-08
   days on market $219,900 Active 94 DOM
9. 2026-06-07
   days on market $219,900 Active 93 DOM
10. 2026-06-05
    days on market $219,900 Active 90 DOM
11. 2026-06-03
    days on market $219,900 Active 89 DOM
12. 2026-06-02
    days on market $219,900 Active 88 DOM
13. 2026-06-01
    days on market $219,900 Active 87 DOM
14. 2026-05-31
    days on market $219,900 Active 86 DOM
15. 2026-05-30
    days on market $219,900 Active 85 DOM
16. 2026-04-10
    price $219,900
17. 2026-03-06
    listed $225,000 Active
18. 2026-03-06
    historical
19. 2026-03-05
    status Active
20. 2025-10-27
    historical
21. 2025-09-25
    price $224,900
22. 2025-09-08
    listed $230,000 Active
23. 2024-07-03
    historical $1,450
24. 2024-07-03
    listed $1,450
25. 2023-03-22
    soldstatus $189,900
26. 2023-03-17
    soldstatus $189,900 Closed 828-char remark

    Show marketing remark (828 chars)

    Charming Move-In Ready, Solid Concrete Block, 3 Bedroom/1.5 Bathroom Home with Updates! Nice and Bright, the floorplan offers a living room, generously sized family room, and formal dining room. The Kitchen has freshly painted cabinets and new pretty countertops and appliances. The master bedroom has an updated half bathroom and the home shares a renovated sleek and modern Full bathroom with a Large walk-in shower. There is also an interior laundry room to make the household chores easier and more comfortable. As you step out of the back door, there is a cozy screened porch looking out into the large backyard. A Storage shed with a new roof is in place and perfect for any additional storage needs. This home is one you do not want to miss! Roof 2015, New HVAC 2022, All New Windows 2022. Nothing to do here but move in!

27. 2023-01-28
    historical Active Under Contract 828-char remark

    Show marketing remark (828 chars)

    Charming Move-In Ready, Solid Concrete Block, 3 Bedroom/1.5 Bathroom Home with Updates! Nice and Bright, the floorplan offers a living room, generously sized family room, and formal dining room. The Kitchen has freshly painted cabinets and new pretty countertops and appliances. The master bedroom has an updated half bathroom and the home shares a renovated sleek and modern Full bathroom with a Large walk-in shower. There is also an interior laundry room to make the household chores easier and more comfortable. As you step out of the back door, there is a cozy screened porch looking out into the large backyard. A Storage shed with a new roof is in place and perfect for any additional storage needs. This home is one you do not want to miss! Roof 2015, New HVAC 2022, All New Windows 2022. Nothing to do here but move in!

28. 2023-01-17
    price $189,900 828-char remark

    Show marketing remark (828 chars)

    Charming Move-In Ready, Solid Concrete Block, 3 Bedroom/1.5 Bathroom Home with Updates! Nice and Bright, the floorplan offers a living room, generously sized family room, and formal dining room. The Kitchen has freshly painted cabinets and new pretty countertops and appliances. The master bedroom has an updated half bathroom and the home shares a renovated sleek and modern Full bathroom with a Large walk-in shower. There is also an interior laundry room to make the household chores easier and more comfortable. As you step out of the back door, there is a cozy screened porch looking out into the large backyard. A Storage shed with a new roof is in place and perfect for any additional storage needs. This home is one you do not want to miss! Roof 2015, New HVAC 2022, All New Windows 2022. Nothing to do here but move in!

29. 2023-01-07
    listed $197,000 Active 828-char remark

    Show marketing remark (828 chars)

    Charming Move-In Ready, Solid Concrete Block, 3 Bedroom/1.5 Bathroom Home with Updates! Nice and Bright, the floorplan offers a living room, generously sized family room, and formal dining room. The Kitchen has freshly painted cabinets and new pretty countertops and appliances. The master bedroom has an updated half bathroom and the home shares a renovated sleek and modern Full bathroom with a Large walk-in shower. There is also an interior laundry room to make the household chores easier and more comfortable. As you step out of the back door, there is a cozy screened porch looking out into the large backyard. A Storage shed with a new roof is in place and perfect for any additional storage needs. This home is one you do not want to miss! Roof 2015, New HVAC 2022, All New Windows 2022. Nothing to do here but move in!

30. 2021-01-04
    soldstatus $112,000
31. 2020-12-30
    soldstatus $112,000
32. 2020-07-20
    listed $117,500
33. 2004-08-25
    soldstatus $110,000
34. 1997-07-31
    soldstatus $74,900

ⓘ 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: $2,827 · $236/mo
• Projected year-2 tax: $2,827 · $236/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 · 21 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: −$12,318
• − Property taxes: −$2,827
• − Insurance: −$1,100
• − Repairs & maintenance: −$1,792
• − Management: −$1,792
• − Depreciation: −$6,397
• Taxable loss: −$3,823
• Est. tax savings @ 24.0%: +$918
• After-tax cash flow: $851/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

• 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

+193.6% since first listed

19 events — show timeline

• 2026-04-10 Price Changed $219,900 CATRS
• 2026-03-06 Listing Removed — CATRS
• 2026-03-06 Listed $225,000 CATRS
• 2026-03-05 Relisted — CATRS
• 2025-10-27 Listing Removed — CATRS
• 2025-09-25 Price Changed $224,900 CATRS
• 2025-09-08 Listed $230,000 CATRS
• 2024-07-03 Rental Removed $1,450 APPFOLIO
• 2024-07-03 Listed for Rent $1,450 APPFOLIO
• 2023-03-22 Sold (Public Records) $189,900 Public Records
• 2023-03-17 Sold (MLS) $189,900 CATRS
• 2023-01-28 Contingent — CATRS
• 2023-01-17 Price Changed $189,900 CATRS
• 2023-01-07 Listed $197,000 CATRS
• 2021-01-04 Sold (Public Records) $112,000 Public Records
• 2020-12-30 Sold (MLS) $112,000 CATRS
• 2020-07-20 Listed $117,500 CATRS
• 2004-08-25 Sold (Public Records) $110,000 Public Records
• 1997-07-31 Sold (Public Records) $74,900 Public Records

Property tax history

+5.4%/yr

Latest (2025): $2,827 · +9.2% YoY. Source: county tax records.