3844 Magellan CtTallahasseeFL32303
INVESTMENT ANALYSIS
Investment Verdict
Steady Equity BuilderFor first-time U.S. investors or those diversifying conservatively, 3844 Magellan Ct, Tallahassee, FL, 32303 in Tallahassee offers a clean, manageable entry. Rental yield 7.9%. DSCR 1.46 qualifies for Ziffy Mortgage's no-W2 mortgage for non-U.S. residents. Long-term: 5% annual appreciation projects $90,620 in additional property value over five years, with $3,021/yr in principal equity building ownership stake. Total projected cumulative return: $123,955.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 7.9% | 6.5% |
| Monthly Cash Flow | $(17) | $300 |
City averages based on Tallahassee market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,160 |
| Total Monthly Debt Service | $2,046 |
| DSCR Ratio | 1.06x |
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 1991
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32303, Tallahassee, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 23,147 (100%) |
| Owner Occupied HU | 11,585 (50.0%) |
| Renter Occupied HU | 9,782 (42.3%) |
| Vacant Housing Units | 1,780 ( 7.7%) |
| Median Home Value | $289,980 |
| Average Home Value | $349,236 |
Housing Distribution
Address Breakdown
Residential
22,352
Single Family
19,528
Multi-Family
2,824
Businesses
1,781
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 1991
9,583 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 32303, Tallahassee, FL area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 23,147 (100%) |
| Owner Occupied HU | 11,585 (50.0%) |
| Renter Occupied HU | 9,782 (42.3%) |
| Vacant Housing Units | 1,780 ( 7.7%) |
| Median Home Value | $289,980 |
| Average Home Value | $349,236 |
Housing Distribution
Address Breakdown
Residential
22,352
Single Family
19,528
Multi-Family
2,824
Businesses
1,781
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Brenda Moss • Keller Williams Town & Country
Mls Name: TBR
Mls ID: #391452