240 Lake Ella Dr, Tallahassee, FL, 32303
About This Home
Rare multifamily units at Lake Ella! 240 Lake Ella drive is offered in combination with adjacent property 236/238 Lake Ella Dr., creating a 4-unit investment package - 2 duplex buildings, totalling 4 rental units. Buildings are classic 1940's period construction. Each unit is a 2/1 vertical (townhome design) with hardwood floors, independent utilities, large fenced backyards, off-street parking spaces, and convenient access to all that Lake Ella and Midtown offer. FSU, FAMU, and the Capitol are within 2.5 miles. Units rent at $1250 per month, $60,000 yearly gross. Constant interest in long-term tenancy and location make this a great opportunity with a desirable location and steady cash-flow. Properties will be sold together. Ownership interest by licensed Florida realtor.
Getting Around
Very Walkable
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Year built: 1940
Type & Style
- Home type: MultiFamily
Interior
Bedrooms & Bathrooms
- Bedrooms: 8
- Bathrooms: 4
- Full bathrooms: 4
Interior Area
- Total interior livable area: 3,400 sqft
Property
Lot
- Lot size: 0.50 Acres
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Cold Wave
- Hurricane
- Tornado
How This Home’s Risks Compare
FEMA Declared Disasters in Leon County and Florida
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $3,008 | $36,096 |
| Home Insurance * | $528 | $6,336 |
| Property Taxes | $381 | $4,572 |
| Electricity | $342 | $4,106 |
| Total | $4,259 | $51,108 |
Income You'd Need if You Spent...
Florida FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-03-29 | Listed for sale | $625,000 |
| 2023-11-15 | Sold | $255,000 |
| 2023-09-29 | Contingent | $299,000 |
| 2023-09-27 | Listed for sale | $299,000 |
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