5305 Kee Memorial Dr · Pensacola Station, FL 32507

$179,000

3 bd · 2.0 ba · 1,170 sqft · Manufactured public records · 324 Days on market

Built 2018 4,791 sqft lot $153/sqft · 10% above area Est $162k · 10% over

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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 +23.9/30.0
• DSCR +7.7/10.0
• 1% rule +5.8/10.0
• Schools +3.6/10.0
• ARV discount +2.9/15.0
• Rent growth +2.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home is presently used as an AIR B&B, generates about $35,000 a year. It is in excellent condition and kept that way. Modular home, 15' x 78', laminated floors, sheetrock walls, raised ceiling, appears in every way to be stick built. This is a quiet area, constantly being upgraded with new homes. The yard is in great shape, fully fenced, includes a 10 x 13 deck. Driveway is all concrete, can hold 4 to 5 cars with ease. Located across the street from Lagoon State Park, recreation facilities and boat launch area, Wynn Dixie, Publix and CVS just blocks away, Walmart just 4 miles out. Beaches less than 10 minutes away, within bicycle range!

Key facts

• Modular home
• Fully fenced
• Raised ceiling

Tags

• EXCELLENT CONDITION
• MODULAR HOME
• LAMINATED FLOORS
• SHEETROCK WALLS
• RAISED CEILING
• FULLY FENCED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $179k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.1% in Pensacola Station — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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 (+1.2%/yr); 702 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,479 units permitted in Escambia County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($74k/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 $5k 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.

Negotiation context

• It's been on market 324 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $179k implies a 714% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 324 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. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.34%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

• ARV (median comp): $162,290
• List price: $179,000
• Delta: 10.30%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5300 Cambria	0.17mi	3/1.5	1,280 (+9%)	20mo	$175,000	$137	58

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 · 1.22% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.80×
• Total profit: $-10,232
• Equity at exit: $26,689

10-year hold

• IRR: 1.9%
• Equity multiple: 1.12×
• Total profit: $6,150
• Equity at exit: $15,477

Cash invested: $50,120 (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 32507

• Home prices YoY: -4.6%
• Rents YoY: 1.2%
• Active inventory: 702
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,935 high
• Mortgage (P&I): −$939
• Tax from tax record: −$167 /mo · $2,007/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $348

Break-even live

Break-even rent $1,494

Max offer price $179,000

Occupancy floor 77%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5222 Medina Rd Unit D Pensacola, FL	2.0	2.0	998	$1,700	$1.70	23d	1	0.07mi
5292 Balfour Pl Pensacola, FL	2.0	2.5	1248	$1,700	$1.36	23d	1	1.08mi
4828 Huron Dr Pensacola, FL	2.0	2.0	1486	$1,300	$0.87	13d	1	1.09mi
5511 Custer Dr Pensacola, FL	2.0	2.0	1092	$2,200	$2.01	13d	1	1.22mi
13450 Perdido Key Dr Pensacola, FL	1.0–3.0	1.0–2.0	1076	$2,972	$2.76	13d	21	1.26mi
6131 Don Carlos Dr Unit 6137 Pensacola, FL	4.0	1.0	990	$1,395	$1.41	21d	1	1.39mi

Listing history 14 events

1. 2026-06-03
   days on market $179,000 Active 324 DOM
2. 2026-06-02
   days on market $179,000 Active 323 DOM
3. 2026-06-01
   days on market $179,000 Active 322 DOM
4. 2026-05-31
   days on market $179,000 Active 321 DOM
5. 2026-04-25
   status Active 655-char remark

   Show marketing remark (655 chars)

   Home is presently used as an AIR B&B, generates about $35,000 a year. It is in excellent condition and kept that way. Modular home, 15' x 78', laminated floors, sheetrock walls, raised ceiling, appears in every way to be stick built. This is a quiet area, constantly being upgraded with new homes. The yard is in great shape, fully fenced, includes a 10 x 13 deck. Driveway is all concrete, can hold 4 to 5 cars with ease. Located across the street from Lagoon State Park, recreation facilities and boat launch area, Wynn Dixie, Publix and CVS just blocks away, Walmart just 4 miles out. Beaches less than 10 minutes away, within bicycle range!

6. 2026-03-07
   historical Contingent 655-char remark

   Show marketing remark (655 chars)

   Home is presently used as an AIR B&B, generates about $35,000 a year. It is in excellent condition and kept that way. Modular home, 15' x 78', laminated floors, sheetrock walls, raised ceiling, appears in every way to be stick built. This is a quiet area, constantly being upgraded with new homes. The yard is in great shape, fully fenced, includes a 10 x 13 deck. Driveway is all concrete, can hold 4 to 5 cars with ease. Located across the street from Lagoon State Park, recreation facilities and boat launch area, Wynn Dixie, Publix and CVS just blocks away, Walmart just 4 miles out. Beaches less than 10 minutes away, within bicycle range!

7. 2025-08-11
   price $179,000 655-char remark

   Show marketing remark (655 chars)

   Home is presently used as an AIR B&B, generates about $35,000 a year. It is in excellent condition and kept that way. Modular home, 15' x 78', laminated floors, sheetrock walls, raised ceiling, appears in every way to be stick built. This is a quiet area, constantly being upgraded with new homes. The yard is in great shape, fully fenced, includes a 10 x 13 deck. Driveway is all concrete, can hold 4 to 5 cars with ease. Located across the street from Lagoon State Park, recreation facilities and boat launch area, Wynn Dixie, Publix and CVS just blocks away, Walmart just 4 miles out. Beaches less than 10 minutes away, within bicycle range!

8. 2025-07-14
   listed $199,000 Active 655-char remark

   Show marketing remark (655 chars)

   Home is presently used as an AIR B&B, generates about $35,000 a year. It is in excellent condition and kept that way. Modular home, 15' x 78', laminated floors, sheetrock walls, raised ceiling, appears in every way to be stick built. This is a quiet area, constantly being upgraded with new homes. The yard is in great shape, fully fenced, includes a 10 x 13 deck. Driveway is all concrete, can hold 4 to 5 cars with ease. Located across the street from Lagoon State Park, recreation facilities and boat launch area, Wynn Dixie, Publix and CVS just blocks away, Walmart just 4 miles out. Beaches less than 10 minutes away, within bicycle range!

9. 2017-12-13
   soldstatus $22,000
10. 2010-11-15
    historical
11. 2010-05-14
    listed $25,000
12. 2007-03-19
    soldstatus $19,000
13. 2005-12-29
    soldstatus $15,000
14. 1998-03-18
    soldstatus $10,000

ⓘ 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: $2,007 · $167/mo
• Projected year-2 tax: $2,007 · $167/mo
• Expected delta: $0/yr ($0/mo · -0.0%)

ⓘ 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 · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,223
• − Mortgage interest: −$10,027
• − Property taxes: −$2,007
• − Insurance: −$895
• − Repairs & maintenance: −$1,858
• − Management: −$1,858
• − Depreciation: −$5,207
• Taxable income: $1,371
• Est. tax owed @ 24.0%: −$329
• After-tax cash flow: $3,851/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 — Pensacola Station

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Escambia County · 301,722 people
• City population: 4,993
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 32,226
• Household income: $73,540
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1175.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Black 10% Two or more races 10% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -26.23%
• Current HPI: 548.03
• Rent YoY: ▲ 1.22%
• 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

+1690.0% since first listed

10 events — show timeline

• 2026-04-25 Relisted — PARMLS
• 2026-03-07 Contingent — PARMLS
• 2025-08-11 Price Changed $179,000 PARMLS
• 2025-07-14 Listed $199,000 PARMLS
• 2017-12-13 Sold (Public Records) $22,000 Public Records
• 2010-11-15 Listing Removed — PARMLS
• 2010-05-14 Listed $25,000 PARMLS
• 2007-03-19 Sold (Public Records) $19,000 Public Records
• 2005-12-29 Sold (Public Records) $15,000 Public Records
• 1998-03-18 Sold (Public Records) $10,000 Public Records

Property tax history

+29.4%/yr

Latest (2025): $2,007 · +17.1% YoY. Source: county tax records.