2811 Langley Ave #216 · Ferry Pass, FL 32504

$125,000

2 bd · 1.0 ba · 806 sqft · Condo public records · 21 Days on market

Built 1983 $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 +19.3/30.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• DSCR +6.1/10.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEEDS TLC. CARPETS FRESHLY CLEANED. ON BUS ROUTE. HANDY NORTHEAST LOCATION. AS IS.

Key facts

• Bathroom remodel
• New shower insert
• Kitchen remodel

Tags

• LUXURY VINYL PLANK FLOORING
• KITCHEN REMODEL
• NEW STAINLESS-STEEL APPLIANCES
• BATHROOM REMODEL
• NEW SHOWER INSERT
• DEDICATED LAUNDRY AREA

Property features AI

Finance

• Other: Insulation and insulated walls for energy efficiency; Publicly maintained road access
• HOA & community: Association fee $3,000 annually; HOA covers association management, grounds maintenance, and trash

Exterior

• Parking: 2 parking spaces per unit
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Circuit breaker electrical service; Cable available
• Home design: Condominium unit in College Heights Condo; One-story; Entry on first level
• Construction: Frame construction; Slab foundation; Shingle roof
• Exterior features: Deck; Interior lot

Interior

• Kitchen: Updated kitchen (May 2026) with new LVP flooring, new countertops, new sink, new fixtures, new cabinets; New appliances included: refrigerator, dishwasher, range, built-in microwave
• Bedrooms: Master bedroom on the first floor (approx. 13.17' x 14.5')
• Flooring: Luxury Vinyl Plank (recently installed in kitchen and bathroom)
• Bathrooms: One full bathroom on the first floor; Bathroom recently updated (May 2026) with new LVP flooring, shower insert, valve and trim, shower head, vanity, faucet, mirror, and light
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans for additional cooling
• Interior features: Ceiling fans
• Laundry & utility: Washer/Dryer hookups; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% 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 14d 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 $864 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 21 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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 $40k; list at $125k implies a 212% 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 $123,125 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.20% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 6.9

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: -8.0%
• Equity multiple: 0.70×
• Total profit: $-10,352
• Equity at exit: $18,638

10-year hold

• IRR: 2.6%
• Equity multiple: 1.20×
• Total profit: $6,868
• Equity at exit: $10,808

Cash invested: $35,000 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,503 high
• Mortgage (P&I): −$656
• Tax from tax record: −$92 /mo · $1,100/yr
• Insurance: −$52
• HOA: −$250
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $138

Break-even live

Break-even rent $1,328

Max offer price $125,000

Occupancy floor 86%

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: $31,250
• Closing costs: $3,750
• 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	23d	1	0.07mi
6409 Concord Way Pensacola, FL	2.0	2.0	990	$2,100	$2.12	23d	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	23d	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	23d	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	23d	1	1.47mi

HOA detail condo

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

Listing history 22 events

1. 2026-06-18
   days on market $125,000 Active 21 DOM
2. 2026-06-17
   days on market $125,000 Active 20 DOM
3. 2026-06-16
   days on market $125,000 Active 19 DOM
4. 2026-06-15
   days on market $125,000 Active 18 DOM
5. 2026-06-14
   days on market $125,000 Active 16 DOM
6. 2026-06-10
   days on market $125,000 Active 13 DOM
7. 2026-06-09
   days on market $125,000 Active 12 DOM
8. 2026-06-08
   days on market $125,000 Active 11 DOM
9. 2026-06-07
   days on market $125,000 Active 10 DOM
10. 2026-06-03
    days on market $125,000 Active 6 DOM
11. 2026-06-02
    days on market $125,000 Active 5 DOM
12. 2026-06-01
    days on market $125,000 Active 4 DOM
13. 2026-05-31
    days on market $125,000 Active 3 DOM
14. 2026-05-31
    days on market $125,000 Active 2 DOM
15. 2026-05-28
    listed $125,000 Active
16. 2004-11-30
    soldstatus $40,000
17. 2004-11-29
    soldstatus $40,000 82-char remark

    Show marketing remark (82 chars)

    NEEDS TLC. CARPETS FRESHLY CLEANED. ON BUS ROUTE. HANDY NORTHEAST LOCATION. AS IS.

18. 2004-10-11
    listed $39,900 82-char remark

    Show marketing remark (82 chars)

    NEEDS TLC. CARPETS FRESHLY CLEANED. ON BUS ROUTE. HANDY NORTHEAST LOCATION. AS IS.

19. 2004-05-27
    soldstatus $34,000 191-char remark

    Show marketing remark (191 chars)

    UPSTAIRS CONDO WITH OPEN DECK. FIREPLACE,CEILING FANS.NEW CARPET &VINYL INSTALLED 7/00. OWNER FINANCING AVAIL. WITH 10% DOWN & CONTRACT FOR DEED. BROKER/OWNER. SALE SUBJECT TO LEASE.

20. 2004-05-27
    soldstatus $34,000

    Show marketing remark (191 chars)

    UPSTAIRS CONDO WITH OPEN DECK. FIREPLACE,CEILING FANS.NEW CARPET &VINYL INSTALLED 7/00. OWNER FINANCING AVAIL. WITH 10% DOWN & CONTRACT FOR DEED. BROKER/OWNER. SALE SUBJECT TO LEASE.

21. 2000-08-08
    listed $38,900 191-char remark

    Show marketing remark (191 chars)

    UPSTAIRS CONDO WITH OPEN DECK. FIREPLACE,CEILING FANS.NEW CARPET &VINYL INSTALLED 7/00. OWNER FINANCING AVAIL. WITH 10% DOWN & CONTRACT FOR DEED. BROKER/OWNER. SALE SUBJECT TO LEASE.

22. 1986-02-01
    soldstatus $40,000

ⓘ 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: −$7,002
• − Property taxes: −$1,100
• − Insurance: −$625
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − HOA: −$3,000
• − Depreciation: −$3,636
• Taxable loss: −$211
• Est. tax savings @ 24.0%: +$51
• After-tax cash flow: $1,710/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

+212.5% since first listed

8 events — show timeline

• 2026-05-28 Listed $125,000 PARMLS
• 2004-11-30 Sold (Public Records) $40,000 Public Records
• 2004-11-29 Sold (MLS) $40,000 PARMLS
• 2004-10-11 Listed $39,900 PARMLS
• 2004-05-27 Sold (Public Records) $34,000 Public Records
• 2004-05-27 Sold (MLS) $34,000 PARMLS
• 2000-08-08 Listed $38,900 PARMLS
• 1986-02-01 Sold (Public Records) $40,000 Public Records

Property tax history

+7.3%/yr

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