4253 Third Ave · Pace, FL 32571

$135,000

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 22 Days on market

Built 1989 0.98 ac lot

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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 +26.3/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property has it all!!! Located on a 1 acre parcel in a quiet but central spot with beautiful mature Cyprus, Oaks and Magnolia trees, close to everything including Pensacola, UWF, Milton and 2 local boat launches with access to River and also Escambia Bay. The Home has been remodeled to include Beautiful Hardwood floors in the living area, 2nd bedroom as well as the Master bedroom which also includes a large walk in closet! Large tile throughout the kitchen and dining area as well as both en suite Master bathroom and second bathroom which also boasts tiled showers. The Spacious Kitchen has beautiful white Kitchen cabinetry and darker countertops an also includes a large pantry for ample storage. Outside on this huge lot is a large 18 x26 workshop/storage shed complete with water and power that could possibly converted in to an in-law suite/ rental unit! this wont last long, property could also be subdivided pending county approval. Call now and schedule an appointment!

Key facts

• Hardwood flooring
• One acre lot
• Spacious pantry

Tags

• ONE ACRE LOT
• HARDWOOD FLOORING
• SPACIOUS PANTRY
• TILED WALK-IN SHOWERS
• WALK-IN CLOSET
• OVERSIZED DETACHED WORKSHOP

Property features AI

Finance

• HOA & community: Subdivision: FLORIDATOWN HEIGHTS

Exterior

• Utilities: Electric service; Public water; Septic tank
• Home design: Manufactured home; Single-story
• Construction: Built in 1989; Aluminum siding; Metal roof
• Exterior features: Yard building; Workshop

Interior

• Bedrooms: 2 bedrooms; Primary bedroom located on the first floor
• Bathrooms: 2 bathrooms (2 full)
• Heating & cooling: Central heating; Central air
• Interior features: Vaulted ceilings; Washer/dryer hookup
• Laundry & utility: Washer/dryer hookup

What this means for you Summary

Snapshot

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

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 $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.5% in Pace — 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 69/100 on livability (#475 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety F.
• Santa Rosa (suburban): math 63% / reading 60% proficiency, ranked #8 of 73 in FL (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Pace High School (math 63% / reading 62%, grade B-, #93 of 667 statewide, top 14%, 2,240 students, 34% FRL) — zoned schools at 34% FRL track the district average.
• Market conditions: Rents rising (+2.7%/yr); 665 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,983 units permitted in Santa Rosa County in 2024 (128 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.
• Santa Rosa County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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 $85k; list at $135k implies a 59% 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 $132,975 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 1.12% ✓
• Cap rate: 9.39%
• Cash-on-cash: 11.05%
• DSCR: 1.49
• GRM: 7.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.72% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-167
• Equity at exit: $20,129

10-year hold

• IRR: 9.3%
• Equity multiple: 1.70×
• Total profit: $26,537
• 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 32571

• Home prices YoY: -17.7%
• Rents YoY: 2.7%
• Active inventory: 665
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,511 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$82 /mo · $980/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $348

Break-even live

Break-even rent $1,071

Max offer price $135,000

Occupancy floor 72%

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4716 Chumuckla Hwy Unit 3903 Pace, FL	3.0	1.0	840	$1,250	$1.49	23d	1	1.27mi

Listing history 24 events

1. 2026-06-18
   days on market $135,000 Active 22 DOM
2. 2026-06-17
   days on market $135,000 Active 21 DOM
3. 2026-06-16
   days on market $135,000 Active 20 DOM
4. 2026-06-15
   days on market $135,000 Active 19 DOM
5. 2026-06-14
   days on market $135,000 Active 17 DOM
6. 2026-06-10
   days on market $135,000 Active 14 DOM
7. 2026-06-09
   days on market $135,000 Active 13 DOM
8. 2026-06-08
   days on market $135,000 Active 12 DOM
9. 2026-06-07
   days on market $135,000 Active 11 DOM
10. 2026-06-05
    days on market $135,000 Active 8 DOM
11. 2026-06-03
    days on market $135,000 Active 7 DOM
12. 2026-06-02
    days on market $135,000 Active 6 DOM
13. 2026-06-01
    days on market $135,000 Active 5 DOM
14. 2026-05-31
    days on market $135,000 Active 4 DOM
15. 2026-05-31
    days on market $135,000 Active 3 DOM
16. 2026-05-27
    listed $135,000 Active
17. 2021-02-04
    soldstatus $85,000
18. 2021-02-02
    soldstatus $85,000 987-char remark

    Show marketing remark (991 chars)

    This property has it all!!! Located on a 1 acre parcel in a quiet but central spot with beautiful mature Cyprus, Oaks and Magnolia trees, close to everything including Pensacola, UWF, Milton and 2 local boat launches with access to River and also Escambia Bay. The Home has been remodeled to include Beautiful Hardwood floors in the living area, 2nd bedroom as well as the Master bedroom which also includes a large walk in closet! Large tile throughout the kitchen and dining area as well as both en suite Master bathroom and second bathroom which also boasts tiled showers. The Spacious Kitchen has beautiful white Kitchen cabinetry and darker countertops an also includes a large pantry for ample storage. Outside on this huge lot is a large 18 x26 workshop/storage shed complete with water and power that could possibly converted in to an in-law suite/ rental unit! this wont last long, property could also be subdivided pending county approval. Call now and schedule an appointment!

19. 2021-02-02
    soldstatus $85,000 991-char remark

    Show marketing remark (991 chars)

    This property has it all!!! Located on a 1 acre parcel in a quiet but central spot with beautiful mature Cyprus, Oaks and Magnolia trees, close to everything including Pensacola, UWF, Milton and 2 local boat launches with access to River and also Escambia Bay. The Home has been remodeled to include Beautiful Hardwood floors in the living area, 2nd bedroom as well as the Master bedroom which also includes a large walk in closet! Large tile throughout the kitchen and dining area as well as both en suite Master bathroom and second bathroom which also boasts tiled showers. The Spacious Kitchen has beautiful white Kitchen cabinetry and darker countertops an also includes a large pantry for ample storage. Outside on this huge lot is a large 18 x26 workshop/storage shed complete with water and power that could possibly converted in to an in-law suite/ rental unit! this wont last long, property could also be subdivided pending county approval. Call now and schedule an appointment!

20. 2020-12-18
    listed $90,000 987-char remark

    Show marketing remark (991 chars)

    This property has it all!!! Located on a 1 acre parcel in a quiet but central spot with beautiful mature Cyprus, Oaks and Magnolia trees, close to everything including Pensacola, UWF, Milton and 2 local boat launches with access to River and also Escambia Bay. The Home has been remodeled to include Beautiful Hardwood floors in the living area, 2nd bedroom as well as the Master bedroom which also includes a large walk in closet! Large tile throughout the kitchen and dining area as well as both en suite Master bathroom and second bathroom which also boasts tiled showers. The Spacious Kitchen has beautiful white Kitchen cabinetry and darker countertops an also includes a large pantry for ample storage. Outside on this huge lot is a large 18 x26 workshop/storage shed complete with water and power that could possibly converted in to an in-law suite/ rental unit! this wont last long, property could also be subdivided pending county approval. Call now and schedule an appointment!

21. 2020-12-18
    listed $90,000 991-char remark

    Show marketing remark (991 chars)

    This property has it all!!! Located on a 1 acre parcel in a quiet but central spot with beautiful mature Cyprus, Oaks and Magnolia trees, close to everything including Pensacola, UWF, Milton and 2 local boat launches with access to River and also Escambia Bay. The Home has been remodeled to include Beautiful Hardwood floors in the living area, 2nd bedroom as well as the Master bedroom which also includes a large walk in closet! Large tile throughout the kitchen and dining area as well as both en suite Master bathroom and second bathroom which also boasts tiled showers. The Spacious Kitchen has beautiful white Kitchen cabinetry and darker countertops an also includes a large pantry for ample storage. Outside on this huge lot is a large 18 x26 workshop/storage shed complete with water and power that could possibly converted in to an in-law suite/ rental unit! this wont last long, property could also be subdivided pending county approval. Call now and schedule an appointment!

22. 2005-01-31
    historical
23. 2004-10-26
    listed $40,000
24. 1976-05-01
    soldstatus $13,000

ⓘ 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: $980 · $82/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$141/yr (+$12/mo · 14.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $18,134
• − Mortgage interest: −$7,562
• − Property taxes: −$980
• − Insurance: −$675
• − Repairs & maintenance: −$1,451
• − Management: −$1,451
• − Depreciation: −$3,927
• Taxable income: $2,089
• Est. tax owed @ 24.0%: −$501
• After-tax cash flow: $3,675/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: Santa Rosa
• NCES district ID: 1201650
• Math proficiency: 63% ▼ -6.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $58,161
• Composite: 53.12/100
• National rank: #1511
• State rank: #8 of 73 in FL

Livability — Pace

• Score: 69/100
• State rank: #475
• US rank: #8593

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pace, FL
• County: Santa Rosa County · 194,764 people
• City population: 42,171
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 42,171
• Household income: $87,617
• Rent vs Own: 16.1% rent · 83.9% own
• Severe rent burden: 301.0

Population outlook (Santa Rosa County) Hauer SSP2

• Today (2025): 195,978 people
• By 2030: 209,782 · +7.0%
• By 2040: 235,293 · +20.1%
• By 2050: 256,408 · +30.8%
• By 2075: 298,074 · +52.1%
• By 2100: 303,216 · +54.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 9% Hispanic / Latino 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 4% Italian 3% Slovak 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Santa Rosa

• 2024 margin: Solid R (+51.0) · D 24.1% · R 75.0%
• 2008→2024 swing: -3.0pp toward R · 2008: -47.9pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+46.5 2016: R+53.5 2012: R+52.6 2008: R+47.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.39%
• Current HPI: 290.2953
• Rent YoY: ▲ 2.72%
• 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

+938.5% since first listed

9 events — show timeline

• 2026-05-27 Listed $135,000 ECAR
• 2021-02-04 Sold (Public Records) $85,000 Public Records
• 2021-02-02 Sold (MLS) $85,000 PARMLS
• 2021-02-02 Sold (MLS) $85,000 NAMLS
• 2020-12-18 Listed $90,000 PARMLS
• 2020-12-18 Listed $90,000 NAMLS
• 2005-01-31 Listing Removed — PARMLS
• 2004-10-26 Listed $40,000 PARMLS
• 1976-05-01 Sold (Public Records) $13,000 Public Records

Property tax history

+14.3%/yr

Latest (2025): $980 · +1.3% YoY. Source: county tax records.