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$549,900

Est. payment - /mo

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8 Beds

4 Baths

3,584 SqFt

New

1595 WILLOW BEND Way #- Tallahassee, FL 32301

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Additional details

Michael Phillips

michael.phillips@engelvoelkers.com +1(850) 566-9352

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 3,584 sqft

Price per Sqft $153

Subdivision Willow Bend Unrec

MLS Listing ID 399237

Bedrooms 8

Full Baths 4

Construction Status Frame,Siding - Vinyl

HOA Fees $2,480/ann

Year Built 1981

Lot Dimensions 80X100X80X100

Property Sub-Type Multi-Family

Property Description

Prime Tallahassee Quadplex- Live for Free Opportunity- Located in a highly desirable Tallahassee corridor, this well-maintained quadplex offers an exceptional opportunity for both investors and owner-occupants. Just minutes from Florida State University, Florida A&M University, downtown, shopping, and major roadways, this property benefits from consistent rental demand. Each of the four units features 2 bedrooms, 1 bathroom, and a private balcony, creating strong appeal for tenants and future appreciation. The current owners have taken pride in maintaining and updating the property with a simple philosophy: “We maintain each unit as if we had to live in it ourselves.” This mindset has resulted in long-term tenants and stable occupancy. Income + House Hack Scenario (Live for Nearly Free) Current Rents (3 Units): $1,040 $1,200 $1,025 Total Current Rental Income: $3,265/month Purchase Scenario: Purchase Price: $550,000 Down Payment (5%): $27,500 Loan Amount: $522,500 Interest Rate: 6.5% (30-year fixed) Estimated Monthly Mortgage (P&I): ˜ $3,300/month Real-World Breakdown Rental income from 3 units: $3,265/month Estimated mortgage: ~$3,300/month Net out-of-pocket housing cost: ˜ $35/month That means you can live in one unit for essentially free while your tenants cover nearly the entire mortgage. Even More Upside- Current rents are below market, leaving room to increase income over time. One unit is vacant, allowing immediate owner occupancy. Eligible for primary residence financing (much better terms than investment loans).

Location

State FL

County Leon

Area Leon

Rooms

Other Rooms Pantry, Utility Room - Inside, Walk in Closet

Interior

Heating Central, Electric, Heat Pump

Cooling Central, Electric

Flooring Ceramic/Clay, Slab, Vinyl

Equipment Dead Bolt, Dishwasher, Microwave, Range, Refrigerator

Exterior

Parking Features Area - Unassigned

Private Pool No

Building

Lot Description Family Room, Kitchen - Galley, Separate Dining Room

Story Story - Two plus

Level or Stories Story - Two plus

Construction Status Frame,Siding - Vinyl

Schools

Elementary Schools Apalachee

Middle Schools Fairview

High Schools Rickards

Others

Ownership DESLIN RENTAL PROPERTIES

SqFt Source Tax

Miscellaneous Deck

Acceptable Financing Cash, Conventional, FHA, VA, Other

Listing Terms Cash, Conventional, FHA, VA, Other

Listed by Rady Realty, LLC