9560 Sunnehanna Blvd Unit B203 · Ferry Pass, FL 32514

$119,900

4 bd · 2.0 ba · 1,026 sqft · Condo public records · 97 Days on market

Built 1984 $300/mo HOA · 16% of rent

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Why this score? — see what drove the B- 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 +26.7/30.0
• 1% rule +10.0/10.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare find! Updated and spacious upstairs condo conveniently located just off 9 Mile Road near Scenic Hills Country Club. This unit features fresh interior paint, new luxury laminate flooring throughout, and a new HVAC system with a 10-year warranty. Washer and dryer convey. The open floor plan offers a bright living area with an attractive fireplace. Adjacent to the dining area is a private balcony with an exterior storage closet. Down the hall, across from the guest bedroom, is a full bathroom and laundry area. The primary bedroom, located at the end of the hall, includes a private full bath and a large walk-in closet. Conveniently located just minutes from UWF, Scenic Hills Golf Course, s

Key facts

• Private balcony
• Upstairs condo
• New hvac system

Tags

• UPSTAIRS CONDO
• SCENIC HILLS COUNTRY CLUB
• NEW HVAC SYSTEM
• PRIVATE BALCONY
• EXTERIOR STORAGE CLOSET
• STRONG RENTAL POTENTIAL

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 flat; 221 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,479 units permitted in Escambia County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 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 97 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 25y 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 $53k; list at $120k implies a 126% 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 $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.52% ✓
• Cap rate: 9.52%
• Cash-on-cash: 11.53%
• DSCR: 1.51
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.76% rent growth · sell at horizon

5-year hold

• IRR: -2.2%
• Equity multiple: 0.92×
• Total profit: $-2,696
• Equity at exit: $17,877

10-year hold

• IRR: 4.3%
• Equity multiple: 1.27×
• Total profit: $9,167
• Equity at exit: $10,367

Cash invested: $33,572 (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 32514

• Home prices YoY: -31.2%
• Rents YoY: 0.8%
• Active inventory: 221
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,825 high
• Mortgage (P&I): −$629
• Tax from tax record: −$140 /mo · $1,684/yr
• Insurance: −$50
• HOA: −$300
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $323

Break-even live

Break-even rent $1,417

Max offer price $119,900

Occupancy floor 77%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1878 E Nine Mile Rd Pensacola, FL	1.0–3.0	1.0–2.0	887	$1,495	$1.68	23d	8	0.76mi
9100 Baldridge Rd Pensacola, FL	1.0–3.0	1.0–2.0	1086	$1,966	$1.81	13d	13	0.80mi
8733 Chisholm Rd Pensacola, FL	3.0	1.0	1030	$1,300	$1.26	23d	1	0.93mi
2025 Cambridge Cir Pensacola, FL	3.0	2.0	1374	$1,600	$1.16	23d	1	1.07mi
1600 Governors Dr Pensacola, FL	1.0–3.0	1.0–2.0	1010	$1,991	$1.97	13d	25	1.20mi
9095 Airway Dr Pensacola, FL	1.0–3.0	1.0–2.0	1542	$1,809	$1.17	13d	19	1.20mi
9307 Mabel St Pensacola, FL	3.0	1.0	915	$1,300	$1.42	23d	1	1.27mi
8440 Chisholm Rd Unit B Pensacola, FL	3.0	2.0	1112	$1,525	$1.37	23d	1	1.31mi
2220 Gloria Cir Pensacola, FL	2.0–3.0	2.0	1123	$1,825	$1.63	13d	1	1.41mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-05-18
   status Pending
2. 2026-04-09
   historical Contingent
3. 2026-02-10
   listed $119,900 Active
4. 2021-07-04
   historical
5. 2021-06-02
   price $125,000
6. 2021-05-07
   listed $135,000 Active
7. 2014-06-12
   soldstatus $53,000
8. 2014-01-01
   listed $55,400
9. 2002-03-22
   soldstatus $53,500
10. 2001-09-18
    listed $56,900
11. 2001-09-18
    soldstatus $107,900
12. 1984-05-01
    soldstatus $45,600

ⓘ 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: $1,684 · $140/mo
• Projected year-2 tax: $1,684 · $140/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 2/10 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: $21,900
• − Mortgage interest: −$6,716
• − Property taxes: −$1,684
• − Insurance: −$600
• − Repairs & maintenance: −$1,752
• − Management: −$1,752
• − HOA: −$3,600
• − Depreciation: −$3,488
• Taxable income: $2,308
• Est. tax owed @ 24.0%: −$554
• After-tax cash flow: $3,318/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): 42,447
• Household income: $66,644
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1962.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 63% Black 22% Two or more races 9% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1% Tagalog/Filipino 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: ▼ -120.99%
• Current HPI: 266.7408
• Rent YoY: ▲ 0.76%
• 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

+162.9% since first listed

12 events — show timeline

• 2026-05-18 Pending — PARMLS
• 2026-04-09 Contingent — PARMLS
• 2026-02-10 Listed $119,900 PARMLS
• 2021-07-04 Listing Removed — PARMLS
• 2021-06-02 Price Changed $125,000 PARMLS
• 2021-05-07 Listed $135,000 PARMLS
• 2014-06-12 Sold (Public Records) $53,000 Public Records
• 2014-01-01 Listed $55,400 PARMLS
• 2002-03-22 Sold (MLS) $53,500 PARMLS
• 2001-09-18 Sold (Public Records) $107,900 Public Records
• 2001-09-18 Listed $56,900 PARMLS
• 1984-05-01 Sold (Public Records) $45,600 Public Records

Property tax history

+25.8%/yr

Latest (2025): $1,684 · +10.0% YoY. Source: county tax records.