205 Bridge City Dr · Myrtle Grove, FL 32506

$145,000

3 bd · 3.0 ba · 1,216 sqft · Manufactured public records · 242 Days on market

Built 2001 8,054 sqft lot Est $146k · at est.

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.8/30.0
• DSCR +8.6/10.0
• ARV discount +7.8/15.0
• 1% rule +6.1/10.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice sigle wide & very nice yard, house borders fishing lake,

Key facts

• Covered porch
• Fishing in backyard
• 8,054 sq ft lot

Tags

• WATERFRONT ON BASS LAKE
• COVERED PORCH
• EASY ACCESS TO SHOPPING
• 10 MINUTE DRIVE TO BEACH
• FISHING IN BACKYARD

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Detached 2-car carport (covered) — 2 total parking spaces
• Utilities: Public water; Public sewer; Circuit breakers with copper wiring; Cable available
• Home design: Mobile/manufactured home; Single-story; Resale condition
• Construction: Frame construction; Off-grade foundation; Shingle gable roof
• Exterior features: Covered deck; Back yard with chain link fencing; Lake/water view; Waterfront with natural shoreline and block/seawall; Yard building

Interior

• Kitchen: Kitchen island; Laminate countertops; Dishwasher; Microwave; Refrigerator; Eat-in kitchen
• Bedrooms: Primary bedroom on the first floor; Additional bedrooms on the first floor
• Flooring: Vinyl flooring; Carpet
• Bathrooms: Two full bathrooms (all on the first floor)
• Heating & cooling: Central heating; Central air conditioning; Fireplace(s)
• Interior features: Ceiling fans; High-speed internet; Double-pane windows; Some blinds and drapes
• Laundry & utility: Washer and dryer included; Washer/dryer hookups inside; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $353 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 5.1% in Myrtle Grove — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 64/100 on livability (#701 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: schools D-, amenities F, commute F.
• Escambia (suburban): math 40% / reading 45% proficiency, ranked #56 of 73 in FL (top 77%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.9%/yr); 270 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,479 units permitted in Escambia County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Escambia County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.9% rent growth), your $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 242 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 15y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $28k; list at $145k implies a 418% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 242 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 9.21%
• Cash-on-cash: 10.43%
• DSCR: 1.46
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $145,920
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
205 Bridge City Dr	0.00mi	3/2.0	1,216 (0%)	1mo	$145,000	$119	95
9723 San Jose	0.26mi	3/2.0	1,216 (0%)	2mo	$146,000	$120	82
150 Kathryn Dr	0.24mi	3/2.0	1,344 (+10%)	16mo	$162,400	$121	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.85% rent growth · sell at horizon

5-year hold

• IRR: 0.2%
• Equity multiple: 1.01×
• Total profit: $338
• Equity at exit: $21,620

10-year hold

• IRR: 10.7%
• Equity multiple: 1.86×
• Total profit: $34,910
• Equity at exit: $12,537

Cash invested: $40,600 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 32506

• Home prices YoY: -22.5%
• Rents YoY: 3.9%
• Active inventory: 270
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,608 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$96 /mo · $1,156/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$338
• Net cashflow: $353

Break-even live

Break-even rent $1,161

Max offer price $145,000

Occupancy floor 73%

Sensitivity live

Price	-10% $435	-5% $394	+0% $353	+5% $312	+10% $271
Rent	-10% $226	-5% $289	+0% $353	+5% $416	+10% $480
Rate	-1.0pp $426	-0.5pp $390	base $353	+0.5pp $315	+1.0pp $277

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 Wood Crest Way Pensacola, FL	3.0	2.0	1128	$1,425	$1.26	24d	1	0.97mi
10840 U.S. 98 Pensacola, FL	2.0	1.0	789	$1,050	$1.33	24d	1	1.30mi

Listing history 12 events

1. 2026-05-23
   status Pending
2. 2026-05-20
   historical
3. 2026-05-05
   historical Contingent
4. 2026-03-26
   status Active
5. 2026-03-16
   historical Contingent
6. 2025-10-26
   price $145,000
7. 2025-09-19
   listed $150,000 Active
8. 2012-04-24
   soldstatus $28,000 65-char remark

   Show marketing remark (65 chars)

   Nice sigle wide & very nice yard, house borders fishing lake,

9. 2011-10-17
   listed $29,900 65-char remark

   Show marketing remark (65 chars)

   Nice sigle wide & very nice yard, house borders fishing lake,

10. 2000-06-14
    soldstatus $8,500
11. 1992-04-01
    soldstatus $10,900
12. 1990-09-01
    soldstatus $9,700

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,156 · $96/mo
• Projected year-2 tax: $1,204 · $100/mo
• Expected delta: +$47/yr (+$4/mo · 4.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,292
• − Mortgage interest: −$8,122
• − Property taxes: −$1,156
• − Insurance: −$725
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$4,218
• Taxable income: $1,983
• Est. tax owed @ 24.0%: −$476
• After-tax cash flow: $3,759/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Escambia
• NCES district ID: 1200510
• Math proficiency: 40% ▼ -9.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $44,649
• Composite: 36.04/100
• National rank: #4773
• State rank: #56 of 73 in FL

Livability — Myrtle Grove

• Score: 64/100
• State rank: #701
• US rank: #14805

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment D- Housing A+ Health & safety B+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Escambia County · 301,722 people
• City population: 1,170
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 34,549
• Household income: $62,486
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 1359.0

Population outlook (Escambia County) Hauer SSP2

• Today (2025): 334,637 people
• By 2030: 345,779 · +3.3%
• By 2040: 364,828 · +9.0%
• By 2050: 378,514 · +13.1%
• By 2075: 403,220 · +20.5%
• By 2100: 386,125 · +15.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 60% Black 18% Two or more races 11% Hispanic / Latino 6% Asian 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 4% Slovak 2% Italian 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 4% Tagalog/Filipino 2% Other Indo-European 1%

Political lean MEDSL · Escambia

• 2024 margin: R (+19.5) · D 39.7% · R 59.2% · Other 1.1%
• 2008→2024 swing: -0.2pp no change · 2008: -19.3pp · 2024: -19.5pp
• All cycles: 2024: R+19.5 2020: R+15.1 2016: R+20.6 2012: R+20.6 2008: R+19.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -71.86%
• Current HPI: 247.6085
• Rent YoY: ▲ 3.85%
• Metro: Pensacola-Ferry Pass-Brent, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+1394.8% since first listed

12 events — show timeline

• 2026-05-23 Pending — PARMLS
• 2026-05-20 Listing Removed — PARMLS
• 2026-05-05 Contingent — PARMLS
• 2026-03-26 Relisted — PARMLS
• 2026-03-16 Contingent — PARMLS
• 2025-10-26 Price Changed $145,000 PARMLS
• 2025-09-19 Listed $150,000 PARMLS
• 2012-04-24 Sold (MLS) $28,000 PARMLS
• 2011-10-17 Listed $29,900 PARMLS
• 2000-06-14 Sold (Public Records) $8,500 Public Records
• 1992-04-01 Sold (Public Records) $10,900 Public Records
• 1990-09-01 Sold (Public Records) $9,700 Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,156 · +14.2% YoY. Source: county tax records.