1625 Stanley Ave

Tallahassee, FL 32310

$155,000D

2 bd · 1.0 ba · 792 sqft · Built 1953 · SingleFamily · Active · 20 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,136/mo
• Mortgage (P&I): −$813
• Tax + insurance: −$184
• HOA: −$0
• Vac / Maint / Mgmt: −$238
• Net cashflow: $-100/mo
• Annual: $-1,200/yr
• Cap rate: 5.52%
• Cash-on-cash: -2.77%
• DSCR: 0.88
• 1% rule: 0.73%
• Cash to close: $43,400

Investor read

• This is a 2-bed/1.0-bath single-family listed at $155k.
• At list price, monthly cash flow is $-100 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $114k (26.7% below list).
• It's been on market 20 days — a 2% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (26.7% below list) — sets the bar for 1% rule.
• In year one you build about $233 of equity ($1k loan paydown + $-839 appreciation (-0.5% local appreciation)).
• 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: Sabal Palm Elementary School (math 29% / reading 35%, grade F, #1,797 of 2,144 statewide, top 86%, 492 students, 80% FRL); R. Frank Nims Middle School (math 20% / reading 24%, grade F, #549 of 571 statewide, top 97%, 609 students, 82% FRL); James Rickards High School (math 23% / reading 37%, grade F, #441 of 667 statewide, top 67%, 1,581 students, 57% FRL) — zoned schools average 73% FRL vs 45% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-22 pts) — the specific schools serving this property underperform the Leon average; the district grade overstates school quality for this exact location.
• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 94 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,765 units permitted in Leon County in 2024 (975 in 5+ unit buildings).
• Leon County population projected at +23% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $15k; list at $155k implies a 933% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.5% 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.
• This rent runs 36% of the median local income ($38k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.