7101 Joy St Unit D6 · Ferry Pass, FL 32504

$169,900

3 bd · 2.0 ba · 1,187 sqft · Condo public records · 160 Days on market

Built 2005 $288/mo HOA · 17% 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 +10.9/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• DSCR +3.2/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Back on the market due to buyer financing and at no fault of the seller and priced below a recent appraisal. This updated 3-bedroom, 2-bath condo offers 1,187 square feet of living space in the Brigantine Place community. Features include luxury vinyl plank flooring throughout, fresh interior paint, stainless steel appliances, vaulted ceilings, and a private covered balcony. The open layout flows seamlessly from the living area to the balcony, creating a comfortable space for everyday living and entertaining. The primary suite includes a walk-in closet and private bath, while two additional bedrooms offer flexibility for guests, a home office, or other uses. Community amenities include a po

Key facts

• Private balcony
• Community amenities
• Modern finishes

Tags

• PRIVATE BALCONY
• MODERN FINISHES
• LUXURY VINYL PLANK FLOORING
• STAINLESS STEEL APPLIANCES
• PET FRIENDLY COMMUNITY
• COMMUNITY AMENITIES

Property features AI

Finance

• Other: Publicly maintained road access; Directions: From I-10, go south on Davis Hwy, turn left onto Bloodworth Ln, then right on Joy St.
• Financial info: Association fee paid annually
• HOA & community: Condo association with annual fee

Exterior

• Parking: Guest parking and community parking lot
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Circuit breaker electrical service
• Home design: Condo in Brigantine Place (Unit D-6); Two levels; Resale property; Insulated walls
• Construction: Frame construction; Shingle roof; Slab foundation
• Exterior features: Covered patio/porch; In-ground pool; Interior lot

Interior

• Kitchen: Updated kitchen (updated within last 1–5 years); Painted cabinets and new stainless steel appliances; Updated countertops; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: First-floor bedroom (12 x 10); First-floor bedroom (12 x 12)
• Flooring: Luxury vinyl plank (bathroom noted; kitchen likely updated)
• Bathrooms: 2 full bathrooms; Recently updated bathrooms with LVP flooring and fresh paint (updated within last 1–5 years)
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans for cooling assistance
• Interior features: Storage; Ceiling fans; Vaulted ceilings; Blinds
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $-74 ($-894/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (7.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (0.6% below list).
• Recommended offer: $150k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.8% 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; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $1k of loan paydown is wiped out by about $5k 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 160 days — a 12% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 10 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 $94k; list at $170k implies a 82% 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 $149,512 (12.0% 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 160 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.99% ✗
• Cap rate: 5.77%
• Cash-on-cash: -1.88%
• DSCR: 0.92
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.4%
• Equity multiple: 0.35×
• Total profit: $-31,026
• Equity at exit: $25,333

10-year hold

• IRR: -9.2%
• Equity multiple: 0.41×
• Total profit: $-27,955
• Equity at exit: $14,690

Cash invested: $47,572 (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: 8.4×

Monthly cashflow live

• Estimated rent: $1,689 high
• Mortgage (P&I): −$891
• Tax from tax record: −$159 /mo · $1,912/yr
• Insurance: −$71
• HOA: −$288
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $-74

Break-even live

Break-even rent $1,784

Max offer price $156,746

Occupancy floor 99%

Sensitivity live

Price	-10% $22	-5% $-26	+0% $-74	+5% $-123	+10% $-171
Rent	-10% $-208	-5% $-141	+0% $-74	+5% $-8	+10% $59
Rate	-1.0pp $11	-0.5pp $-31	base $-74	+0.5pp $-118	+1.0pp $-163

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7101 Joy St Unit I5 Pensacola, FL	3.0	2.0	1183	$1,950	$1.65	24d	1	0.03mi
6016 Sewell St Pensacola, FL	3.0	1.5	1377	$1,650	$1.20	24d	1	0.28mi
1857 Atwood Dr Pensacola, FL	1.0–2.0	1.0–1.5	892	$1,399	$1.57	24d	1	0.53mi
7322 Mangum Dr Unit 7322 Pensacola, FL	2.0	2.0	1100	$1,450	$1.32	24d	1	0.61mi
7150 Plantation Rd #122 Pensacola, FL	2.0	2.0	1092	$1,500	$1.37	24d	1	0.62mi
7840 Lilac Ln Pensacola, FL	1.0–3.0	1.0–2.0	1025	$1,904	$1.86	14d	16	0.64mi
601 E Burgess Rd Pensacola, FL	2.0	2.0	870	$1,425	$1.64	24d	1	0.74mi
7240 Hilburn Rd Unit 1D Pensacola, FL	2.0	1.0	800	$1,075	$1.34	24d	1	0.78mi
5820 Sanders Ave Apt E Pensacola, FL	2.0	1.0	728	$1,050	$1.44	14d	1	0.79mi
7650 Kipling St Unit 1 Pensacola, FL	3.0	2.0	1200	$1,300	$1.08	24d	1	0.83mi
7650 Kipling St Unit 3 Pensacola, FL	2.0	2.0	800	$1,000	$1.25	24d	1	0.83mi
6003 Born Dr Pensacola, FL	2.0	2.0	999	$1,450	$1.45	22d	1	0.93mi
1843 San Dollar Cir Unit 1843 Pensacola, FL	2.0	1.0	920	$1,400	$1.52	24d	1	0.94mi
6115 N Davis Hwy Pensacola, FL	1.0–3.0	1.0–2.0	1112	$1,825	$1.64	14d	10	0.97mi
3205 E Olive Rd Pensacola, FL	1.0–2.0	1.0–2.0	900	$1,540	$1.71	14d	8	1.23mi
47 Coleman Ln Pensacola, FL	2.0	2.0	1036	$1,650	$1.59	14d	1	1.25mi
700 College Blvd Pensacola, FL	1.0–2.0	1.0–2.0	850	$1,381	$1.62	14d	9	1.27mi
8390 Country Walk Dr Unit B Pensacola, FL	2.0	2.0	994	$1,250	$1.26	24d	1	1.29mi
2106 Schwab Ct Unit B Pensacola, FL	2.0	1.5	960	$1,595	$1.66	14d	1	1.29mi
1040 E Olive Rd Pensacola, FL	1.0–3.0	1.0–2.0	897	$1,644	$1.83	24d	7	1.32mi
711 Underwood Ave Pensacola, FL	3.0	1.0–2.5	950	$1,718	$1.81	14d	25	1.33mi
6409 Concord Way Pensacola, FL	2.0	2.0	990	$2,100	$2.12	24d	1	1.35mi
204 Tree Swallow Dr Pensacola, FL	3.0	2.0	1500	$2,000	$1.33	24d	1	1.45mi
1500 E Johnson Ave #128 Pensacola, FL	2.0	2.0	1078	$1,275	$1.18	24d	1	1.45mi

HOA detail condo

• Monthly dues: $288 · $3,456/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-18
   days on market $169,900 Active 160 DOM
2. 2026-06-17
   days on market $169,900 Active 159 DOM
3. 2026-06-16
   days on market $169,900 Active 158 DOM
4. 2026-06-15
   days on market $169,900 Active 157 DOM
5. 2026-06-14
   days on market $169,900 Active 155 DOM
6. 2026-06-10
   days on market $169,900 Active 152 DOM
7. 2026-06-09
   days on market $169,900 Active 151 DOM
8. 2026-06-08
   days on market $169,900 Active 150 DOM
9. 2026-06-07
   days on market $169,900 Active 149 DOM
10. 2026-06-03
    days on market $169,900 Active 145 DOM
11. 2026-06-02
    days on market $169,900 Active 144 DOM
12. 2026-06-01
    days on market $169,900 Active 143 DOM
13. 2026-05-31
    days on market $169,900 Active 142 DOM
14. 2026-05-31
    remarks 699-char remark
15. 2026-05-31
    days on market $169,900 Active 141 DOM
16. 2026-04-30
    status Pending
17. 2026-04-15
    historical
18. 2026-02-01
    price $169,900
19. 2025-11-28
    listed $175,000 Active
20. 2025-11-28
    listed $175,000 Active
21. 2025-10-25
    historical
22. 2025-08-30
    price $185,000
23. 2025-08-30
    price $185,000
24. 2025-06-10
    price $195,000
25. 2025-06-10
    price $195,000
26. 2025-05-07
    listed $205,000 Active
27. 2025-05-07
    listed $205,000 Active
28. 2020-12-11
    historical
29. 2020-08-20
    listed $144,900
30. 2020-02-05
    soldstatus $93,500
31. 2020-01-31
    soldstatus $93,500
32. 2019-08-10
    listed $98,000
33. 2011-12-16
    soldstatus $67,500
34. 2011-10-15
    listed $74,900
35. 2010-06-13
    historical
36. 2008-08-26
    listed $124,900
37. 2005-08-31
    soldstatus $135,000
38. 2005-07-29
    soldstatus $135,000
39. 2005-07-01
    historical
40. 2005-06-24
    listed $140,000
41. 2004-04-01
    listed $101,500

ⓘ 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: $1,912 · $159/mo
• Projected year-2 tax: $1,912 · $159/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: $20,273
• − Mortgage interest: −$9,517
• − Property taxes: −$1,912
• − Insurance: −$850
• − Repairs & maintenance: −$1,622
• − Management: −$1,622
• − HOA: −$3,456
• − Depreciation: −$4,943
• Taxable loss: −$3,648
• Est. tax savings @ 24.0%: +$875
• After-tax cash flow: $-18/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

+67.4% since first listed

26 events — show timeline

• 2026-04-30 Pending — PARMLS
• 2026-04-15 Listing Removed — PARMLS
• 2026-02-01 Price Changed $169,900 PARMLS
• 2025-11-28 Listed $175,000 ECAR
• 2025-11-28 Listed $175,000 PARMLS
• 2025-10-25 Listing Removed — PARMLS
• 2025-08-30 Price Changed $185,000 PARMLS
• 2025-08-30 Price Changed $185,000 ECAR
• 2025-06-10 Price Changed $195,000 ECAR
• 2025-06-10 Price Changed $195,000 PARMLS
• 2025-05-07 Listed $205,000 ECAR
• 2025-05-07 Listed $205,000 PARMLS
• 2020-12-11 Listing Removed — PARMLS
• 2020-08-20 Listed $144,900 PARMLS
• 2020-02-05 Sold (Public Records) $93,500 Public Records
• 2020-01-31 Sold (MLS) $93,500 PARMLS
• 2019-08-10 Listed $98,000 PARMLS
• 2011-12-16 Sold (MLS) $67,500 PARMLS
• 2011-10-15 Listed $74,900 PARMLS
• 2010-06-13 Listing Removed — PARMLS
• 2008-08-26 Listed $124,900 PARMLS
• 2005-08-31 Sold (Public Records) $135,000 Public Records
• 2005-07-29 Sold (MLS) $135,000 PARMLS
• 2005-07-01 Listing Removed — PARMLS
• 2005-06-24 Listed $140,000 PARMLS
• 2004-04-01 Listed $101,500 PARMLS

Property tax history

+8.6%/yr

Latest (2025): $1,912 · -4.0% YoY. Source: county tax records.