7101 Joy St Unit A7 · Ferry Pass, FL 32504

$165,000

3 bd · 2.0 ba · 1,187 sqft · Condo public records · 165 Days on market

Built 2003 $139/sqft · at area comps Est $165k · at est. $288/mo HOA · 17% of rent

---

Why this score? — see what drove the D- 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 +10.7/30.0
• ARV discount +7.6/15.0
• 1% rule +5.2/10.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful Condo near EVERYTHING! Davis shopping area, UWF, Cordova Mall, Airports, MAJOR shopping - all within 5-10 minutes or even less! ~ The condo is clean and beautiful with New Luxury Vinyl Plank flooring throughout the entire unit ~ 3 nice-size Bedrooms and 2 Baths ~ High ceilings throughout gives it an open, more spacious feeling! ~ The Living Room is large and the Kitchen is well-featured and open ~ Laundry room ~ Balcony for relaxing ~ Parking is directly in front of the unit *** Community Pool ***

Key facts

• Community pool
• Uwf
• Laundry room

Tags

• DAVIS SHOPPING AREA
• UWF
• CORDOVA MALL
• AIRPORTS
• COMMUNITY POOL
• LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-77 ($-926/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (8.3% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.7% vs local median 4.4% in Ferry Pass — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 65/100 on livability (#664 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, schools D, amenities 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 (+3.6%/yr); 172 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,479 units permitted in Escambia County in 2024 (0 in 5+ unit buildings).

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 165 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y 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 $108k; list at $165k implies a 53% 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; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 165 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.02% ✓
• Cap rate: 5.73%
• Cash-on-cash: -2.00%
• DSCR: 0.91
• GRM: 8.1

CMA / ARV

• ARV (median comp): $165,496
• List price: $165,000
• Delta: -0.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.63% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.34×
• Total profit: $-30,383
• Equity at exit: $24,602

10-year hold

• IRR: -9.3%
• Equity multiple: 0.40×
• Total profit: $-27,527
• Equity at exit: $14,266

Cash invested: $46,200 (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 32504

• Home prices YoY: -30.9%
• Rents YoY: 3.6%
• Active inventory: 172
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,689 high
• Mortgage (P&I): −$865
• Tax from tax record: −$190 /mo · $2,278/yr
• Insurance: −$69
• HOA: −$288
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $-77

Break-even live

Break-even rent $1,787

Max offer price $151,365

Occupancy floor 100%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7101 Joy St Unit I5 Pensacola, FL	3.0	2.0	1183	$1,950	$1.65	23d	1	0.03mi
6016 Sewell St Pensacola, FL	3.0	1.5	1377	$1,650	$1.20	23d	1	0.28mi
1857 Atwood Dr Pensacola, FL	1.0–2.0	1.0–1.5	892	$1,399	$1.57	23d	1	0.53mi
7322 Mangum Dr Unit 7322 Pensacola, FL	2.0	2.0	1100	$1,450	$1.32	23d	1	0.61mi
7150 Plantation Rd #122 Pensacola, FL	2.0	2.0	1092	$1,500	$1.37	23d	1	0.62mi
7840 Lilac Ln Pensacola, FL	1.0–3.0	1.0–2.0	1025	$1,904	$1.86	14d	16	0.64mi
601 E Burgess Rd Pensacola, FL	2.0	2.0	870	$1,425	$1.64	23d	1	0.74mi
7240 Hilburn Rd Unit 1D Pensacola, FL	2.0	1.0	800	$1,075	$1.34	23d	1	0.78mi
5820 Sanders Ave Apt E Pensacola, FL	2.0	1.0	728	$1,050	$1.44	14d	1	0.79mi
7650 Kipling St Unit 1 Pensacola, FL	3.0	2.0	1200	$1,300	$1.08	23d	1	0.83mi
7650 Kipling St Unit 3 Pensacola, FL	2.0	2.0	800	$1,000	$1.25	23d	1	0.83mi
6003 Born Dr Pensacola, FL	2.0	2.0	999	$1,450	$1.45	21d	1	0.93mi
1843 San Dollar Cir Unit 1843 Pensacola, FL	2.0	1.0	920	$1,400	$1.52	23d	1	0.94mi
6115 N Davis Hwy Pensacola, FL	1.0–3.0	1.0–2.0	1112	$1,825	$1.64	14d	10	0.97mi
3205 E Olive Rd Pensacola, FL	1.0–2.0	1.0–2.0	900	$1,540	$1.71	14d	8	1.23mi
47 Coleman Ln Pensacola, FL	2.0	2.0	1036	$1,650	$1.59	14d	1	1.25mi
700 College Blvd Pensacola, FL	1.0–2.0	1.0–2.0	850	$1,381	$1.62	14d	9	1.27mi
8390 Country Walk Dr Unit B Pensacola, FL	2.0	2.0	994	$1,250	$1.26	23d	1	1.29mi
2106 Schwab Ct Unit B Pensacola, FL	2.0	1.5	960	$1,595	$1.66	14d	1	1.29mi
1040 E Olive Rd Pensacola, FL	1.0–3.0	1.0–2.0	897	$1,644	$1.83	23d	7	1.32mi
711 Underwood Ave Pensacola, FL	3.0	1.0–2.5	950	$1,718	$1.81	14d	25	1.33mi
6409 Concord Way Pensacola, FL	2.0	2.0	990	$2,100	$2.12	23d	1	1.35mi
204 Tree Swallow Dr Pensacola, FL	3.0	2.0	1500	$2,000	$1.33	23d	1	1.45mi
1500 E Johnson Ave #128 Pensacola, FL	2.0	2.0	1078	$1,275	$1.18	23d	1	1.45mi

HOA detail condo

• Monthly dues: $288 · $3,456/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $165,000 Active 165 DOM
2. 2026-06-17
   days on market $165,000 Active 164 DOM
3. 2026-06-16
   days on market $165,000 Active 163 DOM
4. 2026-06-15
   days on market $165,000 Active 162 DOM
5. 2026-06-14
   days on market $165,000 Active 160 DOM
6. 2026-06-10
   days on market $165,000 Active 157 DOM
7. 2026-06-09
   days on market $165,000 Active 156 DOM
8. 2026-06-08
   days on market $165,000 Active 155 DOM
9. 2026-06-07
   days on market $165,000 Active 154 DOM
10. 2026-06-03
    days on market $165,000 Active 150 DOM
11. 2026-06-02
    days on market $165,000 Active 149 DOM
12. 2026-06-01
    days on market $165,000 Active 148 DOM
13. 2026-05-31
    days on market $165,000 Active 147 DOM
14. 2026-05-31
    days on market $165,000 Active 146 DOM
15. 2026-02-17
    price $165,000 512-char remark

    Show marketing remark (512 chars)

    Beautiful Condo near EVERYTHING! Davis shopping area, UWF, Cordova Mall, Airports, MAJOR shopping - all within 5-10 minutes or even less! ~ The condo is clean and beautiful with New Luxury Vinyl Plank flooring throughout the entire unit ~ 3 nice-size Bedrooms and 2 Baths ~ High ceilings throughout gives it an open, more spacious feeling! ~ The Living Room is large and the Kitchen is well-featured and open ~ Laundry room ~ Balcony for relaxing ~ Parking is directly in front of the unit *** Community Pool ***

16. 2026-01-04
    listed $169,000 Active 512-char remark

    Show marketing remark (512 chars)

    Beautiful Condo near EVERYTHING! Davis shopping area, UWF, Cordova Mall, Airports, MAJOR shopping - all within 5-10 minutes or even less! ~ The condo is clean and beautiful with New Luxury Vinyl Plank flooring throughout the entire unit ~ 3 nice-size Bedrooms and 2 Baths ~ High ceilings throughout gives it an open, more spacious feeling! ~ The Living Room is large and the Kitchen is well-featured and open ~ Laundry room ~ Balcony for relaxing ~ Parking is directly in front of the unit *** Community Pool ***

17. 2025-12-10
    historical $1,525
18. 2025-08-27
    price $1,525
19. 2025-08-13
    price $1,550
20. 2025-07-30
    price $1,600
21. 2025-07-01
    listed $1,650
22. 2019-11-12
    soldstatus $108,000
23. 2019-10-31
    soldstatus $108,000 516-char remark

    Show marketing remark (516 chars)

    Cute 3 bedroom and 2 bath condo on second floor conveniently located in northeast Pensacola. This complex is conveniently located within minutes to UWF, West Florida Hospital, Shopping, Interstate, restaurants and so much more. Open floor plan with large foyer to nice sized kitchen and living area with split bedrooms. Washer/ dryer hookups inside and extra storage closet on Balcony in back. The association fees include an inground pool, lawn maintenance, water/sewer and trash services. Call today for your tour.

24. 2019-08-15
    listed $109,900 516-char remark

    Show marketing remark (516 chars)

    Cute 3 bedroom and 2 bath condo on second floor conveniently located in northeast Pensacola. This complex is conveniently located within minutes to UWF, West Florida Hospital, Shopping, Interstate, restaurants and so much more. Open floor plan with large foyer to nice sized kitchen and living area with split bedrooms. Washer/ dryer hookups inside and extra storage closet on Balcony in back. The association fees include an inground pool, lawn maintenance, water/sewer and trash services. Call today for your tour.

25. 2004-12-15
    soldstatus $93,500
26. 2003-06-05
    listed $89,500

ⓘ 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: $2,278 · $190/mo
• Projected year-2 tax: $2,278 · $190/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 22 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: $20,273
• − Mortgage interest: −$9,243
• − Property taxes: −$2,278
• − Insurance: −$825
• − Repairs & maintenance: −$1,622
• − Management: −$1,622
• − HOA: −$3,456
• − Depreciation: −$4,800
• Taxable loss: −$3,572
• Est. tax savings @ 24.0%: +$857
• After-tax cash flow: $-69/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 — Ferry Pass

• Score: 65/100
• State rank: #664
• US rank: #13543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ferry Pass, FL
• County: Escambia County · 301,722 people
• City population: 43,072
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 22,153
• Household income: $72,672
• Rent vs Own: 37.4% rent · 62.6% own
• Severe rent burden: 533.0

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 (69%)
• Race & ethnicity: White 69% Black 13% Two or more races 10% Hispanic / Latino 6% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 3% Italian 2% Slovak 2%
• Foreign-born: 7% · Canada, China, Jamaica
• Languages at home: 92% English-only · Spanish 2% Chinese 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: ▼ -119.75%
• Current HPI: 268.2214
• Rent YoY: ▲ 3.63%
• 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

+84.4% since first listed

12 events — show timeline

• 2026-02-17 Price Changed $165,000 PARMLS
• 2026-01-04 Listed $169,000 PARMLS
• 2025-12-10 Rental Removed $1,525 PARMLS
• 2025-08-27 Price Changed $1,525 PARMLS
• 2025-08-13 Price Changed $1,550 PARMLS
• 2025-07-30 Price Changed $1,600 PARMLS
• 2025-07-01 Listed for Rent $1,650 PARMLS
• 2019-11-12 Sold (Public Records) $108,000 Public Records
• 2019-10-31 Sold (MLS) $108,000 PARMLS
• 2019-08-15 Listed $109,900 PARMLS
• 2004-12-15 Sold (MLS) $93,500 PARMLS
• 2003-06-05 Listed $89,500 PARMLS

Property tax history

+10.5%/yr

Latest (2025): $2,278 · +14.4% YoY. Source: county tax records.