7022 Chapel St #14 · Ferry Pass, FL 32504

$139,900

2 bd · 2.0 ba · 1,056 sqft · Townhouse public records · 68 Days on market

Built 1985 784 sqft lot Est $155k · 10% under

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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 +24.1/30.0
• ARV discount +11.9/15.0
• DSCR +7.8/10.0
• 1% rule +5.8/10.0
• 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

Townhome in great location, close to shopping, dining and more! Townhome has a great floorplan with a spacious living room that opens to the kitchen. A half bath for guests is conveniently located on the first floor. Two large bedrooms with bath are upstairs. There is also an open patio in the privacy fenced back yard. Would also make a great rental! Don't miss out on this great deal! THIS IS A FANNIE MAE HOMEPATH PROPERTY WHICH MEANS YOU MAY BUY IT FOR AS LITTLE AS 3% DOWN! IF YOU WANT TO UPGRADE THE HOME YOU ARE IN LUCK BECAUSE IT IS ALSO APPROVED FOR HOMEPATH RENOVATION MORTGAGE FINANCING!

Key facts

• Brand new roof
• New carpet
• No hoa fees

Tags

• NO HOA FEES
• MINUTES FROM COLLEGES
• INDOOR LAUNDRY
• BRAND NEW ROOF
• BRAND HVAC
• NEW CARPET

Property features AI

Finance

• Other: Interior lot
• HOA & community: No homeowners association

Exterior

• Parking: 2 spaces per unit
• Utilities: Public water; Public sewer; Electric with circuit breakers and copper wiring; County-maintained road access
• Home design: Attached property; Two levels; Resale condition
• Construction: Frame construction; Composition roof; Slab foundation; Insulation and insulated walls; Built in (year not provided)
• Exterior features: Privacy fenced backyard; Patio

Interior

• Kitchen: Built-in microwave; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: Master bedroom on the first floor (approx. 12' x 13'); Additional bedroom on the first floor (approx. 10' x 11')
• Flooring: Tile; Carpet
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Central air; Ceiling fan(s)
• Interior features: Ceiling fan(s); Double pane windows; Blinds
• Laundry & utility: Indoor laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 20 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 $967 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 68 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $22k; list at $140k implies a 540% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.08% ✓
• Cap rate: 8.67%
• Cash-on-cash: 8.48%
• DSCR: 1.38
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $155,232
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7022 Chapel St #14	0.00mi	2/1.5	1,056 (0%)	1mo	$139,900	$132	97
7022 Chapel St #13	0.00mi	2/1.5	1,056 (0%)	6mo	$139,900	$132	93
7101 Joy St Unit C8	0.26mi	2/2.0	1,183 (+12%)	3mo	$172,000	$145	66
7101 Joy St Unit A-8	0.26mi	2/2.0	1,183 (+12%)	6mo	$155,000	$131	63
7101 Joy St Unit E-1	0.26mi	3/2.0 (+1)	1,183 (+12%)	2mo	$183,000	$155	61
7101 Joy St Unit D4	0.26mi	2/2.0	1,183 (+12%)	14mo	$158,400	$134	57
7101 Joy St Unit G7	0.26mi	3/2.0 (+1)	1,187 (+12%)	8mo	$174,500	$147	56
7101 Joy St Unit C4	0.26mi	2/2.0	1,183 (+12%)	16mo	$194,000	$164	55
7101 Joy St Unit K7	0.26mi	3/2.0 (+1)	1,187 (+12%)	11mo	$150,000	$126	53
1801 San Dollar Cir	0.59mi	2/2.0	1,075 (+2%)	23mo	$175,000	$163	50
7101 Joy St Unit E4	0.26mi	2/2.0	1,183 (+12%)	23mo	$174,900	$148	49
1245 Pinnacle Cir Unit A	0.69mi	2/1.0	969 (-8%)	24mo	$150,000	$155	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -2.8%
• Equity multiple: 0.90×
• Total profit: $-4,083
• Equity at exit: $20,860

10-year hold

• IRR: 7.6%
• Equity multiple: 1.59×
• Total profit: $23,120
• Equity at exit: $12,096

Cash invested: $39,172 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,511 high
• Mortgage (P&I): −$734
• Tax from tax record: −$125 /mo · $1,495/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $277

Break-even live

Break-even rent $1,160

Max offer price $139,900

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 20 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	23d	1	0.27mi
6016 Sewell St Pensacola, FL	3.0	1.5	1377	$1,650	$1.20	23d	1	0.41mi
7322 Mangum Dr Unit 7322 Pensacola, FL	2.0	2.0	1100	$1,450	$1.32	23d	1	0.44mi
5820 Sanders Ave Apt E Pensacola, FL	2.0	1.0	728	$1,050	$1.44	13d	1	0.52mi
1843 San Dollar Cir Unit 1843 Pensacola, FL	2.0	1.0	920	$1,400	$1.52	23d	1	0.67mi
7650 Kipling St Unit 3 Pensacola, FL	2.0	2.0	800	$1,000	$1.25	23d	1	0.71mi
7650 Kipling St Unit 1 Pensacola, FL	3.0	2.0	1200	$1,300	$1.08	23d	1	0.71mi
1857 Atwood Dr Pensacola, FL	1.0–2.0	1.0–1.5	892	$1,399	$1.57	23d	1	0.79mi
7150 Plantation Rd #122 Pensacola, FL	2.0	2.0	1092	$1,500	$1.37	23d	1	0.87mi
601 E Burgess Rd Pensacola, FL	2.0	2.0	870	$1,425	$1.64	23d	1	0.89mi
7840 Lilac Ln Pensacola, FL	1.0–3.0	1.0–2.0	1025	$1,690	$1.65	13d	16	0.90mi
6115 N Davis Hwy Pensacola, FL	1.0–3.0	1.0–2.0	1112	$1,625	$1.46	13d	10	1.00mi
2106 Schwab Ct Unit B Pensacola, FL	2.0	1.5	960	$1,595	$1.66	13d	1	1.01mi
7240 Hilburn Rd Unit 1D Pensacola, FL	2.0	1.0	800	$1,075	$1.34	23d	1	1.04mi
700 College Blvd Pensacola, FL	1.0–2.0	1.0–2.0	850	$1,381	$1.62	13d	9	1.04mi
6003 Born Dr Pensacola, FL	2.0	2.0	999	$1,450	$1.45	21d	1	1.08mi
6409 Concord Way Pensacola, FL	2.0	2.0	990	$2,100	$2.12	23d	1	1.08mi
711 Underwood Ave Pensacola, FL	3.0	1.0–2.5	950	$1,472	$1.55	13d	25	1.09mi
3205 E Olive Rd Pensacola, FL	1.0–2.0	1.0–2.0	900	$1,540	$1.71	13d	8	1.12mi
47 Coleman Ln Pensacola, FL	2.0	2.0	1036	$1,650	$1.59	13d	1	1.32mi

Listing history 11 events

1. 2026-04-29
   historical Contingent
2. 2026-04-23
   status Active
3. 2026-04-10
   historical Contingent
4. 2026-03-19
   listed $139,900 Active
5. 2013-08-16
   soldstatus $21,875 600-char remark

   Show marketing remark (600 chars)

   Townhome in great location, close to shopping, dining and more! Townhome has a great floorplan with a spacious living room that opens to the kitchen. A half bath for guests is conveniently located on the first floor. Two large bedrooms with bath are upstairs. There is also an open patio in the privacy fenced back yard. Would also make a great rental! Don't miss out on this great deal! THIS IS A FANNIE MAE HOMEPATH PROPERTY WHICH MEANS YOU MAY BUY IT FOR AS LITTLE AS 3% DOWN! IF YOU WANT TO UPGRADE THE HOME YOU ARE IN LUCK BECAUSE IT IS ALSO APPROVED FOR HOMEPATH RENOVATION MORTGAGE FINANCING!

6. 2013-02-22
   listed $24,900 600-char remark

   Show marketing remark (600 chars)

   Townhome in great location, close to shopping, dining and more! Townhome has a great floorplan with a spacious living room that opens to the kitchen. A half bath for guests is conveniently located on the first floor. Two large bedrooms with bath are upstairs. There is also an open patio in the privacy fenced back yard. Would also make a great rental! Don't miss out on this great deal! THIS IS A FANNIE MAE HOMEPATH PROPERTY WHICH MEANS YOU MAY BUY IT FOR AS LITTLE AS 3% DOWN! IF YOU WANT TO UPGRADE THE HOME YOU ARE IN LUCK BECAUSE IT IS ALSO APPROVED FOR HOMEPATH RENOVATION MORTGAGE FINANCING!

7. 2009-12-31
   historical
8. 2009-04-09
   listed $57,500
9. 2008-09-08
   historical
10. 2008-08-26
    listed $68,500
11. 1993-12-01
    soldstatus $120,000

ⓘ 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: $1,495 · $125/mo
• Projected year-2 tax: $1,495 · $125/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 · 21 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: $18,127
• − Mortgage interest: −$7,837
• − Property taxes: −$1,495
• − Insurance: −$700
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$4,070
• Taxable income: $1,126
• Est. tax owed @ 24.0%: −$270
• After-tax cash flow: $3,052/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

+16.6% since first listed

11 events — show timeline

• 2026-04-29 Contingent — PARMLS
• 2026-04-23 Relisted — PARMLS
• 2026-04-10 Contingent — PARMLS
• 2026-03-19 Listed $139,900 PARMLS
• 2013-08-16 Sold (MLS) $21,875 PARMLS
• 2013-02-22 Listed $24,900 PARMLS
• 2009-12-31 Listing Removed — PARMLS
• 2009-04-09 Listed $57,500 PARMLS
• 2008-09-08 Listing Removed — PARMLS
• 2008-08-26 Listed $68,500 PARMLS
• 1993-12-01 Sold (Public Records) $120,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $1,495 · +18.3% YoY. Source: county tax records.