2811 Langley Ave #108 · Ferry Pass, FL 32504

$112,000

2 bd · 1.0 ba · 806 sqft · Condo public records · 126 Days on market

Built 1983 $139/sqft · 25% above area Est $89k · 25% over $250/mo HOA · 17% of rent

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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 +23.6/30.0
• 1% rule +8.4/10.0
• DSCR +7.6/10.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2-bedroom, 1-bathroom condominium is approximately 5 minutes from Pensacola International Airport. Recent updates include a new roof (2024), Hardie Plank exterior (2022), sliding glass door (2023), and water heater (2021). Interior improvements include luxury vinyl plank and tile flooring (2023). The kitchen was updated in 2023 with new countertops, a stainless steel smooth-top range/oven, and a dishwasher, with a stainless steel refrigerator and built-in microwave added in February 2026. The bathroom includes a shower/tub insert (2020) and a tall vanity installed in February 2026. The full interior was painted in January 2026. The layout provides an open connection between the living area and kitchen, maximizing usable space without excess square footage. Both bedrooms accommodate full-size furniture with functional spacing. A dedicated laundry area is integrated into the layout without reducing primary living space. Additional features include energy-efficient ceiling fans in every room and low-maintenance interior finishes. Exterior and system updates reduce near-term replacement risk. The location also provides access to downtown Pensacola (approximately 10 minutes) and Pensacola Beach (approximately 20 minutes). Overall, this is a move-in-ready space that feels modern, manageable, and well-aligned with today’s lifestyle. Make your plans to tour it today!

Key facts

• Shower tub insert
• Tall vanity
• Updated countertops

Tags

• UPDATED COUNTERTOPS
• STAINLESS REFRIGERATOR
• BUILT-IN MICROWAVE
• SHOWER TUB INSERT
• TALL VANITY
• DEDICATED LAUNDRY AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $112k.

Deal economics

• At list price, monthly cash flow is $212 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $99k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.4% in Ferry Pass — 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 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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $774 of loan paydown is wiped out by about $3k 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 126 days — a 12% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $13k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $112k implies a 104% 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 $98,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.34% ✓
• Cap rate: 8.56%
• Cash-on-cash: 8.11%
• DSCR: 1.36
• GRM: 6.2

CMA / ARV

• ARV (median comp): $89,368
• List price: $112,000
• Delta: 25.32%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-3,548
• Equity at exit: $16,700

10-year hold

• IRR: 7.7%
• Equity multiple: 1.60×
• Total profit: $18,868
• Equity at exit: $9,684

Cash invested: $31,360 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,503 high
• Mortgage (P&I): −$587
• Tax from tax record: −$92 /mo · $1,100/yr
• Insurance: −$47
• HOA: −$250
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $212

Break-even live

Break-even rent $1,235

Max offer price $112,000

Occupancy floor 81%

Sensitivity live

Price	-10% $275	-5% $244	+0% $212	+5% $180	+10% $148
Rent	-10% $93	-5% $153	+0% $212	+5% $271	+10% $331
Rate	-1.0pp $268	-0.5pp $240	base $212	+0.5pp $183	+1.0pp $153

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2813 Langley Ave Pensacola, FL	2.0	2.0	1078	$1,450	$1.35	24d	1	0.07mi
6409 Concord Way Pensacola, FL	2.0	2.0	990	$2,100	$2.12	24d	1	0.56mi
2106 Schwab Ct Unit B Pensacola, FL	2.0	1.5	960	$1,595	$1.66	14d	1	0.71mi
3730 Forest Glen Dr Pensacola, FL	3.0	2.0	1107	$1,660	$1.50	24d	1	0.73mi
7155 N 9th Ave Pensacola, FL	1.0–2.0	1.0	850	$1,575	$1.85	14d	4	0.85mi
1843 San Dollar Cir Unit 1843 Pensacola, FL	2.0	1.0	920	$1,400	$1.52	24d	1	0.98mi
711 Underwood Ave Pensacola, FL	3.0	1.0–2.5	950	$1,472	$1.55	14d	25	1.04mi
700 College Blvd Pensacola, FL	1.0–2.0	1.0–2.0	850	$1,381	$1.62	14d	9	1.11mi
5820 Sanders Ave Apt E Pensacola, FL	2.0	1.0	728	$1,050	$1.44	14d	1	1.20mi
7601 N 9th Ave Pensacola, FL	1.0–2.0	1.0–2.0	855	$1,467	$1.72	14d	7	1.22mi
7322 Mangum Dr Unit 7322 Pensacola, FL	2.0	2.0	1100	$1,450	$1.32	24d	1	1.47mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   status $112,000 Pending 126 DOM
2. 2026-06-17
   days on market $112,000 Contingent 126 DOM
3. 2026-06-16
   days on market $112,000 Contingent 125 DOM
4. 2026-06-15
   days on market $112,000 Contingent 124 DOM
5. 2026-06-14
   days on market $112,000 Contingent 122 DOM
6. 2026-06-10
   days on market $112,000 Contingent 119 DOM
7. 2026-06-09
   days on market $112,000 Contingent 118 DOM
8. 2026-06-08
   days on market $112,000 Contingent 117 DOM
9. 2026-06-07
   days on market $112,000 Contingent 116 DOM
10. 2026-06-03
    days on market $112,000 Contingent 112 DOM
11. 2026-06-02
    days on market $112,000 Contingent 111 DOM
12. 2026-06-01
    days on market $112,000 Contingent 110 DOM
13. 2026-05-31
    days on market $112,000 Contingent 109 DOM
14. 2026-05-31
    days on market $112,000 Contingent 108 DOM
15. 2026-05-08
    price $112,000 1392-char remark

    Show marketing remark (1392 chars)

    This 2-bedroom, 1-bathroom condominium is approximately 5 minutes from Pensacola International Airport. Recent updates include a new roof (2024), Hardie Plank exterior (2022), sliding glass door (2023), and water heater (2021). Interior improvements include luxury vinyl plank and tile flooring (2023). The kitchen was updated in 2023 with new countertops, a stainless steel smooth-top range/oven, and a dishwasher, with a stainless steel refrigerator and built-in microwave added in February 2026. The bathroom includes a shower/tub insert (2020) and a tall vanity installed in February 2026. The full interior was painted in January 2026. The layout provides an open connection between the living area and kitchen, maximizing usable space without excess square footage. Both bedrooms accommodate full-size furniture with functional spacing. A dedicated laundry area is integrated into the layout without reducing primary living space. Additional features include energy-efficient ceiling fans in every room and low-maintenance interior finishes. Exterior and system updates reduce near-term replacement risk. The location also provides access to downtown Pensacola (approximately 10 minutes) and Pensacola Beach (approximately 20 minutes). Overall, this is a move-in-ready space that feels modern, manageable, and well-aligned with today’s lifestyle. Make your plans to tour it today!

16. 2026-04-30
    price $124,000 1392-char remark

    Show marketing remark (1392 chars)

    This 2-bedroom, 1-bathroom condominium is approximately 5 minutes from Pensacola International Airport. Recent updates include a new roof (2024), Hardie Plank exterior (2022), sliding glass door (2023), and water heater (2021). Interior improvements include luxury vinyl plank and tile flooring (2023). The kitchen was updated in 2023 with new countertops, a stainless steel smooth-top range/oven, and a dishwasher, with a stainless steel refrigerator and built-in microwave added in February 2026. The bathroom includes a shower/tub insert (2020) and a tall vanity installed in February 2026. The full interior was painted in January 2026. The layout provides an open connection between the living area and kitchen, maximizing usable space without excess square footage. Both bedrooms accommodate full-size furniture with functional spacing. A dedicated laundry area is integrated into the layout without reducing primary living space. Additional features include energy-efficient ceiling fans in every room and low-maintenance interior finishes. Exterior and system updates reduce near-term replacement risk. The location also provides access to downtown Pensacola (approximately 10 minutes) and Pensacola Beach (approximately 20 minutes). Overall, this is a move-in-ready space that feels modern, manageable, and well-aligned with today’s lifestyle. Make your plans to tour it today!

17. 2026-04-13
    status Active 1392-char remark

    Show marketing remark (1392 chars)

    This 2-bedroom, 1-bathroom condominium is approximately 5 minutes from Pensacola International Airport. Recent updates include a new roof (2024), Hardie Plank exterior (2022), sliding glass door (2023), and water heater (2021). Interior improvements include luxury vinyl plank and tile flooring (2023). The kitchen was updated in 2023 with new countertops, a stainless steel smooth-top range/oven, and a dishwasher, with a stainless steel refrigerator and built-in microwave added in February 2026. The bathroom includes a shower/tub insert (2020) and a tall vanity installed in February 2026. The full interior was painted in January 2026. The layout provides an open connection between the living area and kitchen, maximizing usable space without excess square footage. Both bedrooms accommodate full-size furniture with functional spacing. A dedicated laundry area is integrated into the layout without reducing primary living space. Additional features include energy-efficient ceiling fans in every room and low-maintenance interior finishes. Exterior and system updates reduce near-term replacement risk. The location also provides access to downtown Pensacola (approximately 10 minutes) and Pensacola Beach (approximately 20 minutes). Overall, this is a move-in-ready space that feels modern, manageable, and well-aligned with today’s lifestyle. Make your plans to tour it today!

18. 2026-04-01
    historical Contingent 1392-char remark

    Show marketing remark (1392 chars)

    This 2-bedroom, 1-bathroom condominium is approximately 5 minutes from Pensacola International Airport. Recent updates include a new roof (2024), Hardie Plank exterior (2022), sliding glass door (2023), and water heater (2021). Interior improvements include luxury vinyl plank and tile flooring (2023). The kitchen was updated in 2023 with new countertops, a stainless steel smooth-top range/oven, and a dishwasher, with a stainless steel refrigerator and built-in microwave added in February 2026. The bathroom includes a shower/tub insert (2020) and a tall vanity installed in February 2026. The full interior was painted in January 2026. The layout provides an open connection between the living area and kitchen, maximizing usable space without excess square footage. Both bedrooms accommodate full-size furniture with functional spacing. A dedicated laundry area is integrated into the layout without reducing primary living space. Additional features include energy-efficient ceiling fans in every room and low-maintenance interior finishes. Exterior and system updates reduce near-term replacement risk. The location also provides access to downtown Pensacola (approximately 10 minutes) and Pensacola Beach (approximately 20 minutes). Overall, this is a move-in-ready space that feels modern, manageable, and well-aligned with today’s lifestyle. Make your plans to tour it today!

19. 2026-02-10
    listed $125,000 Active 1392-char remark

    Show marketing remark (1392 chars)

    This 2-bedroom, 1-bathroom condominium is approximately 5 minutes from Pensacola International Airport. Recent updates include a new roof (2024), Hardie Plank exterior (2022), sliding glass door (2023), and water heater (2021). Interior improvements include luxury vinyl plank and tile flooring (2023). The kitchen was updated in 2023 with new countertops, a stainless steel smooth-top range/oven, and a dishwasher, with a stainless steel refrigerator and built-in microwave added in February 2026. The bathroom includes a shower/tub insert (2020) and a tall vanity installed in February 2026. The full interior was painted in January 2026. The layout provides an open connection between the living area and kitchen, maximizing usable space without excess square footage. Both bedrooms accommodate full-size furniture with functional spacing. A dedicated laundry area is integrated into the layout without reducing primary living space. Additional features include energy-efficient ceiling fans in every room and low-maintenance interior finishes. Exterior and system updates reduce near-term replacement risk. The location also provides access to downtown Pensacola (approximately 10 minutes) and Pensacola Beach (approximately 20 minutes). Overall, this is a move-in-ready space that feels modern, manageable, and well-aligned with today’s lifestyle. Make your plans to tour it today!

20. 2007-04-17
    soldstatus $55,000
21. 1990-11-01
    soldstatus $21,000

ⓘ 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: $1,100 · $92/mo
• Projected year-2 tax: $1,100 · $92/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: $18,038
• − Mortgage interest: −$6,274
• − Property taxes: −$1,100
• − Insurance: −$560
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − HOA: −$3,000
• − Depreciation: −$3,258
• Taxable income: $961
• Est. tax owed @ 24.0%: −$231
• After-tax cash flow: $2,312/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

+433.3% since first listed

7 events — show timeline

• 2026-05-08 Price Changed $112,000 PARMLS
• 2026-04-30 Price Changed $124,000 PARMLS
• 2026-04-13 Relisted — PARMLS
• 2026-04-01 Contingent — PARMLS
• 2026-02-10 Listed $125,000 PARMLS
• 2007-04-17 Sold (Public Records) $55,000 Public Records
• 1990-11-01 Sold (Public Records) $21,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $1,100 · +19.6% YoY. Source: county tax records.