1420 Elberta DrTallahasseeFL32304
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeThe 9.56% yield at 1420 Elberta Dr, Tallahassee, FL, 32304 in Tallahassee is solid, but the $618/mo payment compresses net cash flow to $149/mo at $137,500. This is a tight-spread property, income covers debt, with little cushion. For investors who can optimise occupancy, the upside is real: 5% annual appreciation adds $37,989 by year five, and $1,266/yr in loan paydown builds equity. Ziffy Mortgage qualifies this via DSCR (1.77) without U.S. income documentation. Total projected return: $62,155.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.6% | 6.5% |
| Monthly Cash Flow | $149 | $300 |
City averages based on Tallahassee market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $1,095 |
| Total Monthly Debt Service | $892 |
| DSCR Ratio | 1.23x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1949
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32304, Tallahassee, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 24,529 (100%) |
| Owner Occupied HU | 2,683 (10.9%) |
| Renter Occupied HU | 18,172 (74.1%) |
| Vacant Housing Units | 3,674 (15.0%) |
| Median Home Value | $178,435 |
| Average Home Value | $231,156 |
Housing Distribution
Address Breakdown
Residential
12,996
Single Family
10,156
Multi-Family
2,840
Businesses
904
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Single Family
Built in 1949
6,098 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32304, Tallahassee, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 24,529 (100%) |
| Owner Occupied HU | 2,683 (10.9%) |
| Renter Occupied HU | 18,172 (74.1%) |
| Vacant Housing Units | 3,674 (15.0%) |
| Median Home Value | $178,435 |
| Average Home Value | $231,156 |
Housing Distribution
Address Breakdown
Residential
12,996
Single Family
10,156
Multi-Family
2,840
Businesses
904
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Mary Heather Webb • Frog Real Estate Company, LLC
Mls Name: TBR
Mls Provider:
Mls ID: #383119
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.