4344 Langley Ave Unit B 202 · Pensacola, FL 32504

$135,000

2 bd · 2.0 ba · 1,036 sqft · Condo · 140 Days on market

Built 1979 Fair condition $130/sqft · 10% below area Est $150k · 10% under $410/mo HOA · 27% 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).

• ARV discount +12.1/15.0
• Cash flow +7.9/30.0
• 1% rule +6.2/10.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.2/5.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE IMPROVEMENT!!!! This 2nd story, well-maintained 2-bedroom, 2-bath condo offers 1,036 square feet of comfortable, functional living space in a highly convenient location. Situated close to the airport, shopping mall, and other desirable destinations, it provides easy access to everyday essentials, dining, and entertainment. The condo features newer appliances, a practical open layout, and generously sized bedrooms, including a primary suite with a private bath. The second bedroom and full bath offer flexibility for guests, a home office, or shared living. Ideal for those seeking convenience and comfort, this condo is available for long-term rental and is perfect for professionals, frequent travelers, or anyone looking to enjoy a central location with modern updates. No rental restrictions!

Key facts

• Long-term rental
• Private bath
• Newer appliances

Tags

• HIGHLY CONVENIENT LOCATION
• NEWER APPLIANCES
• PRACTICAL OPEN LAYOUT
• PRIVATE BATH
• FLEXIBILITY FOR GUESTS
• LONG-TERM RENTAL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-146 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (15.6% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $114k (15.6% below list) — sets the bar for cash-flow.
• Cap rate 5.0% vs local median 3.6% 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); 173 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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 140 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $106k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.
• Climate carrying-cost: major 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 $113,887 (15.6% 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 140 days. Have you received any prior offers? Is the seller open to a 16% 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: 1.12% ✓
• Cap rate: 5.00%
• Cash-on-cash: -4.63%
• DSCR: 0.79
• GRM: 7.4

CMA / ARV

• ARV (median comp): $150,281
• List price: $135,000
• Delta: -10.17%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -22.8%
• Equity multiple: 0.21×
• Total profit: $-29,927
• Equity at exit: $20,129

10-year hold

• IRR: -14.4%
• Equity multiple: 0.13×
• Total profit: $-32,893
• Equity at exit: $11,672

Cash invested: $37,800 (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: 173
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,515 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$410
• Vacancy / Maint / Mgmt: −$318
• Net cashflow: $-146

Break-even live

Break-even rent $1,700

Max offer price $113,887

Occupancy floor —

Sensitivity live

Price	-10% $-53	-5% $-99	+0% $-146	+5% $-193	+10% $-239
Rent	-10% $-266	-5% $-206	+0% $-146	+5% $-86	+10% $-26
Rate	-1.0pp $-78	-0.5pp $-112	base $-146	+0.5pp $-181	+1.0pp $-216

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3730 Forest Glen Dr Pensacola, FL	3.0	2.0	1107	$1,660	$1.50	25d	1	0.86mi
2813 Langley Ave Pensacola, FL	2.0	2.0	1078	$1,450	$1.35	25d	1	1.26mi

HOA detail condo

• Monthly dues: $410 · $4,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $135,000 Active 140 DOM
2. 2026-06-18
   days on market $135,000 Active 137 DOM
3. 2026-06-17
   days on market $135,000 Active 136 DOM
4. 2026-06-16
   days on market $135,000 Active 135 DOM
5. 2026-06-15
   days on market $135,000 Active 134 DOM
6. 2026-06-14
   pricedays on market $135,000 Active 132 DOM
7. 2026-06-10
   days on market $139,900 Active 129 DOM
8. 2026-06-09
   days on market $139,900 Active 128 DOM
9. 2026-06-08
   days on market $139,900 Active 127 DOM
10. 2026-06-07
    days on market $139,900 Active 126 DOM
11. 2026-06-03
    days on market $139,900 Active 122 DOM
12. 2026-06-02
    days on market $139,900 Active 121 DOM
13. 2026-06-01
    days on market $139,900 Active 120 DOM
14. 2026-05-31
    days on market $139,900 Active 119 DOM
15. 2026-05-31
    days on market $139,900 Active 118 DOM
16. 2026-04-02
    price $139,900 807-char remark

    Show marketing remark (807 chars)

    PRICE IMPROVEMENT!!!! This 2nd story, well-maintained 2-bedroom, 2-bath condo offers 1,036 square feet of comfortable, functional living space in a highly convenient location. Situated close to the airport, shopping mall, and other desirable destinations, it provides easy access to everyday essentials, dining, and entertainment. The condo features newer appliances, a practical open layout, and generously sized bedrooms, including a primary suite with a private bath. The second bedroom and full bath offer flexibility for guests, a home office, or shared living. Ideal for those seeking convenience and comfort, this condo is available for long-term rental and is perfect for professionals, frequent travelers, or anyone looking to enjoy a central location with modern updates. No rental restrictions!

17. 2026-02-16
    price $145,000 807-char remark

    Show marketing remark (807 chars)

    PRICE IMPROVEMENT!!!! This 2nd story, well-maintained 2-bedroom, 2-bath condo offers 1,036 square feet of comfortable, functional living space in a highly convenient location. Situated close to the airport, shopping mall, and other desirable destinations, it provides easy access to everyday essentials, dining, and entertainment. The condo features newer appliances, a practical open layout, and generously sized bedrooms, including a primary suite with a private bath. The second bedroom and full bath offer flexibility for guests, a home office, or shared living. Ideal for those seeking convenience and comfort, this condo is available for long-term rental and is perfect for professionals, frequent travelers, or anyone looking to enjoy a central location with modern updates. No rental restrictions!

18. 2026-02-01
    listed $150,000 Active 807-char remark

    Show marketing remark (807 chars)

    PRICE IMPROVEMENT!!!! This 2nd story, well-maintained 2-bedroom, 2-bath condo offers 1,036 square feet of comfortable, functional living space in a highly convenient location. Situated close to the airport, shopping mall, and other desirable destinations, it provides easy access to everyday essentials, dining, and entertainment. The condo features newer appliances, a practical open layout, and generously sized bedrooms, including a primary suite with a private bath. The second bedroom and full bath offer flexibility for guests, a home office, or shared living. Ideal for those seeking convenience and comfort, this condo is available for long-term rental and is perfect for professionals, frequent travelers, or anyone looking to enjoy a central location with modern updates. No rental restrictions!

19. 2007-07-10
    soldstatus $105,900 797-char remark

    Show marketing remark (797 chars)

    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.

20. 2007-01-15
    listed $105,900 797-char remark

    Show marketing remark (797 chars)

    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.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 75% 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: $18,183
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,455
• − Management: −$1,455
• − HOA: −$4,920
• − Depreciation: −$3,927
• Taxable loss: −$3,836
• Est. tax savings @ 24.0%: +$921
• After-tax cash flow: $-830/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

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

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint touch-ups · Some areas of paint show minor scuffing	Minor	$500–3,000
Sealant touch-ups · Tile flooring may need a fresh coat of sealant	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

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

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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 · 301,722 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: 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

+32.1% since first listed

5 events — show timeline

• 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