Residential Investment Property For
2713 Tess Circle Tallahassee, FL 32304
Investment property with open floor plan near FSU and TCC.
Type:Condo/Townhome
Property size:
1,183 SFLot size:
0.07 AcresPrice / SF:
$105/SF- Added:
- Apr 27, 2023
- Days on Market:
- 1170
- Last Refresh:
- Jul 5 at 3:20 am
Property Features for 2713 Tess Circle
General Information
- Standard status
- Active
- Size
- 1,183 SF
- Lot size
- 0.07 Acres
- Property subtype
- Condo/Townhome
Building Details
- Year Built
- 1999
Listing office Lighthouse Property Rental Svc (850) 888-8690
Listing date Apr 27, 2023
Source Exitrealty
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of Lighthouse Property Rental Svc
Investment Insights
Based on property information with market context.
This residential investment property features an open floor plan with three bedrooms and three bathrooms. The property is conveniently located near Florida State University (FSU), Tallahassee Community College (TCC), shopping centers, restaurants, and Interstate 10. The Homeowner's Association (HOA) covers lawn care and pool maintenance.
Key Highlights
- Great location convenient to FSU & TCC, shopping, restaurants, and I‑10.
- Affordable 3 Bed/3 Bath unit.
- Open Floor Plan.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $21.3k | $18.00 |
| − Vacancy | −$1.7k | −$1.44 |
| EGI | $19.6k | $16.56 |
| − OpEx | −$8.8k | −$7.45 |
| NOI | $10.8k | $9.11 |
1,183 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$153.9K
$134.7K – $179.6K
NOI $10,775 @ 7.0% cap · market cap 8.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$290.0K
$253.8K – $338.4K
NOI $20,301 @ 7.0% cap · market cap 16.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Residential income properties
Similar For Sale Nearby
FAQs
What type of property is this?
Residential income property - Investment property with open floor plan near FSU and TCC.
Where is this residential income property located?
The property is located at 2713 Tess Circle Tallahassee, FL.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Great location convenient to FSU & TCC, shopping, restaurants, and I‑10.; Affordable 3 Bed/3 Bath unit.; Open Floor Plan.
