7171 N 9th Ave Unit B12 · Pensacola, FL 32504

$134,900

2 bd · 2.0 ba · 1,014 sqft · Condo public records · 76 Days on market

Built 1984 $133/sqft · 14% below area Est $157k · 14% under $450/mo HOA · 30% 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 +13.8/15.0
• Cash flow +6.7/30.0
• 1% rule +6.2/10.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Sunrunner Place! A highly desirable Condo community with a sparkling new & improved community pool. This 2 br/ 2ba condo has vaulted ceilings throughout the home, living room with woodburning fireplace, nice kitchen with brand new refrigerator, a large Main Suite with oversized closet and double vanities. You'll enjoy sitting on the spacious back porch / balcony that also has a utility closet for storage. Conveniently located to everything! The airport, UWF, PSC, I10, hospitals, shopping, dining, beaches and more. The association takes care of groundskeeping, garbage, pest control, community pool and exterior maintenance on the roof / siding / stairs and walkways. Don't miss out on this opportunity. Call today to schedule a personal tour!

Key facts

• $450 HOA
• 2 parking spots
• Community pool

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $-215 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $97k (28.2% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $97k (28.2% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 3.6% in Pensacola — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $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 76 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 $96k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 30% 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 $96,859 (28.2% 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 76 days. Have you received any prior offers? Is the seller open to a 28% 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. 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?
8. 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.
9. 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.
10. 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: 4.38%
• Cash-on-cash: -6.84%
• DSCR: 0.70
• GRM: 7.5

CMA / ARV

• ARV (median comp): $156,764
• List price: $134,900
• Delta: -13.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -26.7%
• Equity multiple: 0.09×
• Total profit: $-34,301
• Equity at exit: $20,114

10-year hold

• IRR: -20.1%
• Equity multiple: -0.12×
• Total profit: $-42,266
• Equity at exit: $11,664

Cash invested: $37,772 (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: 7.5×

Monthly cashflow live

• Estimated rent: $1,506 high
• Mortgage (P&I): −$707
• Tax from tax record: −$191 /mo · $2,295/yr
• Insurance: −$56
• HOA: −$450
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $-215

Break-even live

Break-even rent $1,778

Max offer price $96,859

Occupancy floor —

Sensitivity live

Price	-10% $-139	-5% $-177	+0% $-215	+5% $-254	+10% $-292
Rent	-10% $-334	-5% $-275	+0% $-215	+5% $-156	+10% $-96
Rate	-1.0pp $-147	-0.5pp $-181	base $-215	+0.5pp $-250	+1.0pp $-286

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7171 N 9th Ave Unit D6 Pensacola, FL	2.0	2.0	1204	$1,450	$1.20	16d	1	0.03mi
7155 N 9th Ave Pensacola, FL	1.0–2.0	1.0	850	$1,575	$1.85	16d	4	0.06mi
7601 N 9th Ave Pensacola, FL	1.0–2.0	1.0–2.0	855	$1,467	$1.72	16d	7	0.33mi
4051 E Olive Rd Pensacola, FL	1.0–2.0	1.0–2.0	855	$1,425	$1.67	25d	37	0.66mi
8108 Ridgefield Rd Pensacola, FL	3.0	2.0	1485	$2,000	$1.35	16d	1	0.75mi
3730 Forest Glen Dr Pensacola, FL	3.0	2.0	1107	$1,660	$1.50	25d	1	0.76mi
2813 Langley Ave Pensacola, FL	2.0	2.0	1078	$1,450	$1.35	25d	1	0.91mi
6409 Concord Way Pensacola, FL	2.0	2.0	990	$2,100	$2.12	25d	1	0.93mi
3205 E Olive Rd Pensacola, FL	1.0–2.0	1.0–2.0	900	$1,540	$1.71	16d	8	0.96mi
1843 San Dollar Cir Unit 1843 Pensacola, FL	2.0	1.0	920	$1,400	$1.52	25d	1	1.04mi
7650 Kipling St Unit 3 Pensacola, FL	2.0	2.0	800	$1,000	$1.25	25d	1	1.13mi
7650 Kipling St Unit 1 Pensacola, FL	3.0	2.0	1200	$1,300	$1.08	25d	1	1.13mi
2106 Schwab Ct Unit B Pensacola, FL	2.0	1.5	960	$1,595	$1.66	16d	1	1.18mi
7322 Mangum Dr Unit 7322 Pensacola, FL	2.0	2.0	1100	$1,450	$1.32	25d	1	1.25mi
8487 Old Spanish Trail Rd Pensacola, FL	3.0	1.5	1364	$1,550	$1.14	25d	1	1.32mi
5820 Sanders Ave Apt E Pensacola, FL	2.0	1.0	728	$1,050	$1.44	16d	1	1.43mi

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Likely covers: trashlandscapingexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-21
   days on market $134,900 Active 76 DOM
2. 2026-06-18
   days on market $134,900 Active 73 DOM
3. 2026-06-17
   days on market $134,900 Active 72 DOM
4. 2026-06-16
   days on market $134,900 Active 71 DOM
5. 2026-06-15
   days on market $134,900 Active 70 DOM
6. 2026-06-14
   days on market $134,900 Active 68 DOM
7. 2026-06-10
   days on market $134,900 Active 65 DOM
8. 2026-06-09
   days on market $134,900 Active 64 DOM
9. 2026-06-08
   days on market $134,900 Active 63 DOM
10. 2026-06-07
    days on market $134,900 Active 62 DOM
11. 2026-06-03
    days on market $134,900 Active 58 DOM
12. 2026-06-02
    days on market $134,900 Active 57 DOM
13. 2026-06-01
    days on market $134,900 Active 56 DOM
14. 2026-05-31
    days on market $134,900 Active 55 DOM
15. 2026-05-31
    days on market $134,900 Active 54 DOM
16. 2026-04-06
    listed $134,900 Active 763-char remark

    Show marketing remark (763 chars)

    Welcome to Sunrunner Place! A highly desirable Condo community with a sparkling new & improved community pool. This 2 br/ 2ba condo has vaulted ceilings throughout the home, living room with woodburning fireplace, nice kitchen with brand new refrigerator, a large Main Suite with oversized closet and double vanities. You'll enjoy sitting on the spacious back porch / balcony that also has a utility closet for storage. Conveniently located to everything! The airport, UWF, PSC, I10, hospitals, shopping, dining, beaches and more. The association takes care of groundskeeping, garbage, pest control, community pool and exterior maintenance on the roof / siding / stairs and walkways. Don't miss out on this opportunity. Call today to schedule a personal tour!

17. 2019-02-27
    soldstatus $95,500
18. 2019-02-25
    soldstatus $95,500 865-char remark

    Show marketing remark (865 chars)

    This condo is move in ready. Partially furnished. Carpet is like new. Only a couple years old. Vaulted ceilings, Open concept, and dining area. Kitchen includes stove, dishwasher, microwave and refrigerator. Washer and dryer also included. Master bedroom has vaulted ceilings, nice walk in closet, double vanities with shower/tub combo. The back porch is spacious and includes a utility closet for storage. Brick fireplace located in living room for those colder nights in the winter. Close to everything! PSC and UWF college campuses. I-10, shopping, restaurants, Pensacola International Airport, downtown about 20 minutes away, white sandy beaches are not far away. Look no further. This one is under $100,000. Amenities! Home owner offering a ONE YEAR HOME WARRANTY. Home warranty will start the day of closing. Call today to see this one. It will not last long.

19. 2019-01-12
    listed $97,500 865-char remark

    Show marketing remark (865 chars)

    This condo is move in ready. Partially furnished. Carpet is like new. Only a couple years old. Vaulted ceilings, Open concept, and dining area. Kitchen includes stove, dishwasher, microwave and refrigerator. Washer and dryer also included. Master bedroom has vaulted ceilings, nice walk in closet, double vanities with shower/tub combo. The back porch is spacious and includes a utility closet for storage. Brick fireplace located in living room for those colder nights in the winter. Close to everything! PSC and UWF college campuses. I-10, shopping, restaurants, Pensacola International Airport, downtown about 20 minutes away, white sandy beaches are not far away. Look no further. This one is under $100,000. Amenities! Home owner offering a ONE YEAR HOME WARRANTY. Home warranty will start the day of closing. Call today to see this one. It will not last long.

20. 2017-06-20
    soldstatus $77,500
21. 2017-06-12
    soldstatus $77,500
22. 2017-03-31
    listed $83,900
23. 2016-08-09
    historical
24. 2016-04-13
    listed $79,900
25. 2014-02-27
    soldstatus $57,200
26. 2014-02-26
    soldstatus $57,200
27. 2013-09-25
    listed $67,000
28. 2005-04-04
    soldstatus $50,000
29. 2005-03-01
    historical
30. 2005-02-02
    listed $89,900
31. 1993-11-30
    soldstatus $48,000
32. 1992-04-01
    soldstatus $22,100

ⓘ 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: $2,295 · $191/mo
• Projected year-2 tax: $2,295 · $191/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $18,069
• − Mortgage interest: −$7,556
• − Property taxes: −$2,295
• − Insurance: −$674
• − Repairs & maintenance: −$1,446
• − Management: −$1,446
• − HOA: −$5,400
• − Depreciation: −$3,924
• Taxable loss: −$4,672
• Est. tax savings @ 24.0%: +$1,121
• After-tax cash flow: $-1,463/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

• 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

+510.4% since first listed

17 events — show timeline

• 2026-04-06 Listed $134,900 PARMLS
• 2019-02-27 Sold (Public Records) $95,500 Public Records
• 2019-02-25 Sold (MLS) $95,500 PARMLS
• 2019-01-12 Listed $97,500 PARMLS
• 2017-06-20 Sold (Public Records) $77,500 Public Records
• 2017-06-12 Sold (MLS) $77,500 PARMLS
• 2017-03-31 Listed $83,900 PARMLS
• 2016-08-09 Listing Removed — PARMLS
• 2016-04-13 Listed $79,900 PARMLS
• 2014-02-27 Sold (Public Records) $57,200 Public Records
• 2014-02-26 Sold (MLS) $57,200 PARMLS
• 2013-09-25 Listed $67,000 PARMLS
• 2005-04-04 Sold (Public Records) $50,000 Public Records
• 2005-03-01 Listing Removed — PARMLS
• 2005-02-02 Listed $89,900 PARMLS
• 1993-11-30 Sold (Public Records) $48,000 Public Records
• 1992-04-01 Sold (Public Records) $22,100 Public Records

Property tax history

+8.4%/yr

Latest (2025): $2,295 · +8.4% YoY. Source: county tax records.