4344 Langley Ave Unit B202 · Pensacola, FL 32504

$124,000

2 bd · 2.0 ba · 1,036 sqft · Condo · 66 Days on market

Built 1979 Fair condition $120/sqft · 10% below area Est $138k · 10% under $410/mo HOA · 26% of rent

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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 +12.1/30.0
• ARV discount +11.9/15.0
• 1% rule +7.7/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• DSCR +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

UNIT B-202 IS A "BRONZE PACKAGE" WHICH IS PARTLY REFURBISHED WITH ALL NEW FLOORING AND COMPLETELY REPAINTED WITH THE ORANGE PEEL EFFECT. THIS PROPERTY IS IN A WELL MANICURED COMPLEX. WITH A LUXURY POOL AND COMMUNITY ROOM THAT WILL BE A FITNESS CENTER IN THE NEAR FUTURE. LOCATED IN A HIGHLY DESIRED AREA CLOSE TO SCHOOLS, HOSPITAL, AIRPORT, SHOPPING AND THE BEACHES. YOU NAME IT AND YOU ARE CLOSE BY. WITH THIS PROPERTY YOU HAVE MANY OPTIONS TO CHOOSE FROM. THERE ARE OTHER UNITS AVAILABLE; 1BED/1BATH OR 2BED/2BATH WITH YOUR PICK OF WHAT TYPE OF PACKAGE AN "AS IS" BRONZE, SILVER, GOLD, OR PLATINUM. PRICES VARY ON PACKAGE. BE SURE TO ASK ABOUT THE "HANDY-MAN SPECIALS" PLEASE VISIT AND SEE ALL THIS PROPERTY HAS TO OFFER. BUYER TO VERIFY ROOM SIZES AND SQ. FOOTAGE.

Key facts

• Newer appliances
• Private bathroom
• $410 HOA

Tags

• NEWER APPLIANCES
• PRIVATE BATHROOM
• HIGHLY DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $124k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-27 ($-324/yr) — negative.
• To cash-flow at today's rent, offer at most $120k (3.1% below list).
• Meets the 1% rule at list price ($2k rent vs $124k).
• Recommended offer: $117k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.0% vs local median 3.4% in Pensacola — 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 83/100 on livability (#53 in FL, #924 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• 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.
• Zoned schools: Scenic Heights Elementary School (math 66% / reading 63%, grade B, #525 of 2,144 statewide, top 26%, 809 students, 51% FRL); Ferry Pass Middle School (math 34% / reading 33%, grade F, #428 of 571 statewide, top 76%, 1,014 students, 64% FRL); Washington Senior High School (math 25% / reading 40%, grade F, #411 of 667 statewide, top 62%, 1,733 students, 51% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: Rents rising (+3.6%/yr); 305 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 41d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $857 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.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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 $106k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,560 (6.0% 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 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. 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: 1.27% ✓
• Cap rate: 6.03%
• Cash-on-cash: -0.93%
• DSCR: 0.96
• GRM: 6.6

CMA / ARV

• ARV (median comp): $137,538
• List price: $124,000
• Delta: -9.84%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3936 Elmcrest Dr	1.21mi	3/2.0 (+1)	1,040 (+0%)	2mo	$203,000	$195	58
2813 Langley Ave Unit I-117	1.26mi	2/2.0	1,078 (+4%)	1mo	$120,000	$111	57
2813 Langley Ave Unit D107	1.26mi	2/2.0	1,078 (+4%)	1mo	$110,000	$102	57
3709 Whispering Pines Dr	1.01mi	3/1.5 (+1)	1,150 (+11%)	0mo	$203,000	$177	39
106 Wildflower Ln	1.43mi	3/2.0 (+1)	1,184 (+14%)	0mo	$220,000	$186	36
2811 Langley Ave #216	1.30mi	2/1.0	806 (-22%)	1mo	$125,000	$155	35
6102 The Oaks Ln	1.46mi	3/2.0 (+1)	1,189 (+15%)	1mo	$225,000	$189	34
4045 Audubon Dr	1.41mi	3/2.0 (+1)	1,200 (+16%)	1mo	$161,800	$135	34
7154 Dogwood Ter Dr	1.06mi	3/1.5 (+1)	1,246 (+20%)	0mo	$160,000	$128	33
3820 Whispering Pines Dr	0.92mi	3/1.5 (+1)	1,215 (+17%)	0mo	$179,000	$147	33
6183 Alicia Dr	1.12mi	3/1.5 (+1)	1,246 (+20%)	1mo	$189,000	$152	32
2959 Meredith Dr	1.16mi	3/1.5 (+1)	1,246 (+20%)	1mo	$191,000	$153	32

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 · 3.63% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.41×
• Total profit: $-20,536
• Equity at exit: $18,489

10-year hold

• IRR: -6.3%
• Equity multiple: 0.57×
• Total profit: $-14,815
• Equity at exit: $10,721

Cash invested: $34,720 (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: 305
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,570 high
• Mortgage (P&I): −$650
• Tax est. 1.5%: −$155 /mo · $1,860/yr
• Insurance: −$52
• HOA: −$410
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $-27

Break-even live

Break-even rent $1,604

Max offer price $120,094

Occupancy floor 97%

Sensitivity live

Price	-10% $59	-5% $16	+0% $-27	+5% $-70	+10% $-113
Rent	-10% $-151	-5% $-89	+0% $-27	+5% $35	+10% $97
Rate	-1.0pp $35	-0.5pp $5	base $-27	+0.5pp $-59	+1.0pp $-92

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: $31,000
• Closing costs: $3,720
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4188 Aqua Vista Dr Pensacola, FL	3.0	2.0	1388	$2,300	$1.66	10d	1	0.70mi
3730 Forest Glen Dr Pensacola, FL	3.0	2.0	1107	$1,660	$1.50	164d	1	0.86mi
3600 Forest Glen Dr Pensacola, FL	3.0	2.0	1188	$1,075	$0.90	10d	1	1.05mi
7210 Dogwood Terrace Dr Unit B Pensacola, FL	3.0	1.5	1300	$1,595	$1.23	2d	1	1.05mi
3971 Elmcrest Dr Pensacola, FL	3.0	2.0	1290	$1,650	$1.28	10d	1	1.13mi
3510 Silvertree Ln Pensacola, FL	2.0	2.0	1100	$1,800	$1.64	0d	1	1.24mi
3510 Silvertree Ln Pensacola, FL	2.0	2.0	1100	$1,800	$1.64	40d	1	1.24mi
3525 Wellington Rd Pensacola, FL	3.0	2.0	1122	$1,700	$1.52	51d	1	1.24mi
2813 Langley Ave Pensacola, FL	2.0	2.0	1078	$1,450	$1.35	164d	1	1.26mi
3606A Chaffin St Pensacola, FL	2.0	1.0	812	$1,200	$1.48	107d	1	1.31mi
3606 Chaffin St Pensacola, FL	2.0	1.0	812	$1,200	$1.48	107d	1	1.31mi
169 Wildflower Ln Pensacola, FL	2.0	2.0	1469	$1,750	$1.19	51d	1	1.32mi
3220 Keating Rd Pensacola, FL	3.0	2.0	1392	$1,695	$1.22	10d	1	1.33mi
215 Wildflower Ln Pensacola, FL	3.0	2.0	1184	$975	$0.82	10d	1	1.34mi
3500 Creighton Rd Pensacola, FL	1.0–2.0	1.0	875	$1,570	$1.79	0d	5	1.35mi
208 Wildflower Ln Pensacola, FL	3.0	3.0	1250	$1,735	$1.39	107d	1	1.37mi
111 Wildflower Ln Pensacola, FL	3.0	2.0	1184	$1,595	$1.35	10d	1	1.38mi
3506 Parkwood Ave Pensacola, FL	2.0	2.5	1397	$1,575	$1.13	51d	1	1.45mi

Property features AI

Finance

• HOA & community: Association with annual fee (covers association, management, recreation facility, trash, water/sewer)Community amenities include a pool and picnic area

Exterior

• Parking: Parking lot with 2 spaces per unit
• Utilities: Public waterPublic sewerElectric with circuit breakersPublicly maintained road
• Home design: Condominium (Bay Oaks)One levelResale property
• Construction: Frame constructionSlab foundationShingle roof
• Exterior features: Covered porchIn-ground poolCentral access lot

Interior

• Kitchen: Updated kitchen (updated within 1–5 years)New appliances in 2021Built-in microwave, dishwasher, refrigerator, electric water heater
• Bedrooms: Master bedroom about 11.5 by 14 (approx. 161 area)Second bedroom on the second floor about 11 by 9.5 (approx. 104.5 area)
• Flooring: Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Tile flooringPets allowedLiving/dining combo
• Laundry & utility: Washer and dryer included

HOA detail $410/mo · $4,920/yr condo

• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-11-08
   days on market $124,000 Active 66 DOM
2. 2026-11-07
   days on market $124,000 Active 65 DOM
3. 2026-11-06
   days on market $124,000 Active 64 DOM
4. 2026-11-05
   days on market $124,000 Active 63 DOM
5. 2026-11-04
   days on market $124,000 Active 62 DOM
6. 2026-11-02
   days on market $124,000 Active 60 DOM
7. 2026-11-01
   days on market $124,000 Active 59 DOM
8. 2026-10-31
   days on market $124,000 Active 58 DOM
9. 2026-10-30
   days on market $124,000 Active 57 DOM
10. 2026-10-29
    days on market $124,000 Active 56 DOM
11. 2026-10-28
    days on market $124,000 Active 55 DOM
12. 2026-10-27
    days on market $124,000 Active 54 DOM
13. 2026-10-26
    days on market $124,000 Active 53 DOM
14. 2026-10-25
    days on market $124,000 Active 52 DOM
15. 2026-10-24
    days on market $124,000 Active 51 DOM
16. 2026-10-23
    days on market $124,000 Active 50 DOM
17. 2026-10-22
    days on market $124,000 Active 49 DOM
18. 2026-10-21
    days on market $124,000 Active 48 DOM
19. 2026-10-20
    days on market $124,000 Active 47 DOM
20. 2026-10-19
    days on market $124,000 Active 46 DOM
21. 2026-10-18
    days on market $124,000 Active 45 DOM
22. 2026-10-17
    days on market $124,000 Active 44 DOM
23. 2026-10-16
    days on market $124,000 Active 43 DOM
24. 2026-10-15
    days on market $124,000 Active 42 DOM
25. 2026-10-14
    days on market $124,000 Active 41 DOM
26. 2026-10-13
    days on market $124,000 Active 40 DOM
27. 2026-10-12
    days on market $124,000 Active 39 DOM
28. 2026-10-11
    days on market $124,000 Active 38 DOM
29. 2026-10-10
    days on market $124,000 Active 37 DOM
30. 2026-10-09
    days on market $124,000 Active 36 DOM
31. 2026-10-08
    days on market $124,000 Active 35 DOM
32. 2026-10-07
    days on market $124,000 Active 34 DOM
33. 2026-10-06
    days on market $124,000 Active 33 DOM
34. 2026-10-05
    days on market $124,000 Active 32 DOM
35. 2026-10-04
    days on market $124,000 Active 31 DOM
36. 2026-10-04
    days on market $124,000 Active 30 DOM
37. 2026-10-02
    days on market $124,000 Active 29 DOM
38. 2026-10-01
    days on market $124,000 Active 28 DOM
39. 2026-09-30
    days on market $124,000 Active 27 DOM
40. 2026-09-29
    days on market $124,000 Active 26 DOM
41. 2026-09-28
    days on market $124,000 Active 25 DOM
42. 2026-09-27
    days on market $124,000 Active 24 DOM
43. 2026-09-25
    days on market $124,000 Active 22 DOM
44. 2026-09-24
    days on market $124,000 Active 21 DOM
45. 2026-09-23
    days on market $124,000 Active 20 DOM
46. 2026-09-22
    days on market $124,000 Active 19 DOM
47. 2026-09-21
    days on market $124,000 Active 18 DOM
48. 2026-09-20
    days on market $124,000 Active 17 DOM
49. 2026-09-19
    days on market $124,000 Active 16 DOM
50. 2026-09-18
    days on market $124,000 Active 15 DOM

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 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: $18,835
• − Mortgage interest: −$6,946
• − Property taxes: −$1,860
• − Insurance: −$620
• − Repairs & maintenance: −$1,507
• − Management: −$1,507
• − HOA: −$4,920
• − Depreciation: −$3,607
• Taxable loss: −$2,132
• Est. tax savings @ 24.0%: +$512
• After-tax cash flow: $188/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.

Condition & rehab AI · 12 photos

Fair 45/100 Cosmetic rehab Est. rehab $5,180–$15,540 screening

This 2-bedroom, 2-bath condo is in fair condition with cosmetic repairs needed. Fresh paint and landscaping improvements would significantly enhance its value.

Repairs flagged

• Minor Paint touch-ups — Some areas of paint show minor scuffing
• Minor Sealant touch-ups — Tile flooring may need a fresh coat of sealant

Value-add opportunities

• Both Paint fresh coat — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping maintenance — Well-maintained landscaping improves curb appeal and property value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 44/100

Zoned Schools

Elementary Scenic Heights Elementary School B FL #525/2,144 Nat'l #5,189/41,679 Middle Ferry Pass Middle School F FL #428/571 Nat'l #7,937/14,009 High Washington Senior High School F FL #411/667 Nat'l #10,333/17,239

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

A Composite livability gradescore 83/100

Livability — Pensacola

• Score: 83/100
• State rank: #53
• US rank: #924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pensacola, FL
• County: Escambia County · 334,637 people
• City population: 237,636
• 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: 12% of renters

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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%

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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%
• Languages at home: 92% English-only · Spanish 2% Chinese 2% Other Indo-European 1%

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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

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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

Property features AI

Finance

• HOA & community: Association with annual fee (covers association, management, recreation facility, trash, water/sewer)Community amenities include a pool and picnic area

Exterior

• Parking: Parking lot with 2 spaces per unit
• Utilities: Public waterPublic sewerElectric with circuit breakersPublicly maintained road
• Home design: Condominium (Bay Oaks)One levelResale property
• Construction: Frame constructionSlab foundationShingle roof
• Exterior features: Covered porchIn-ground poolCentral access lot

Interior

• Kitchen: Updated kitchen (updated within 1–5 years)New appliances in 2021Built-in microwave, dishwasher, refrigerator, electric water heater
• Bedrooms: Master bedroom about 11.5 by 14 (approx. 161 area)Second bedroom on the second floor about 11 by 9.5 (approx. 104.5 area)
• Flooring: Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump for heating and cooling
• Interior features: Tile flooringPets allowedLiving/dining combo
• Laundry & utility: Washer and dryer included

Price history

+17.1% since first listed

8 events — show timeline

• 2026-09-03 Listed $124,000 PARMLS
• 2026-08-02 Listing Removed — PARMLS
• 2026-06-11 Price Changed $135,000 PARMLS
• 2026-04-02 Price Changed $139,900 PARMLS
• 2026-02-16 Price Changed $145,000 PARMLS
• 2026-02-01 Listed $150,000 PARMLS
• 2007-07-10 Sold (MLS) $105,900 PARMLS
• 2007-01-15 Listed $105,900 PARMLS