2299 Scenic Hwy Unit R10 · Pensacola, FL 32503

$170,000

2 bd · 2.0 ba · 1,014 sqft · Condo public records · 107 Days on market

Built 1983 $168/sqft · 68% below area $400/mo HOA · 24% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• 1% rule +4.7/10.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Tucked away in a clean, well-maintained community, this first-floor corner condo offers the perfect blend of privacy and convenience. Located toward the back of the complex, you’ll enjoy a quiet setting while still being just steps from the best of Pensacola. Walk across the street and take in beautiful views of Pensacola Bay, then head back home to relax in a low-maintenance lifestyle that’s ideal for full-time living or investing. You’re within walking distance to cafes, restaurants, and a local grocery store, making everyday errands and weekend plans effortless. Even better, you’re only 10 minutes from Downtown Pensacola and approximately 15 minutes from the beach, putting you close to everything without being in the middle of the hustle. Whether you’re looking for a place with no yard maintenance, a lock-and-leave lifestyle, or a smart investment opportunity, this condo checks all the boxes—plus, the community features a pool for those sunny Florida days.

Key facts

• Close to the beach
• Quiet setting
• $400 HOA

Tags

• FIRST-FLOOR CORNER CONDO
• QUIET SETTING
• WALKING DISTANCE TO CAFES
• CLOSE TO DOWNTOWN PENSACOLA
• CLOSE TO THE BEACH
• COMMUNITY FEATURES A POOL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $-275 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (28.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $165k (2.8% below list).
• Recommended offer: $122k (28.5% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 3.6% in Pensacola — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 83/100 on livability (#53 in FL, #924 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• 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 (+3.4%/yr); 240 active listings in the ZIP; 8 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).

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 107 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $47k; list at $170k implies a 259% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• 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 $121,505 (28.5% 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 107 days. Have you received any prior offers? Is the seller open to a 29% 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. 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?
8. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 4.36%
• Cash-on-cash: -6.92%
• DSCR: 0.69
• GRM: 8.6

CMA / ARV

• ARV (median comp): $536,673
• List price: $170,000
• Delta: -68.32%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.39% rent growth · sell at horizon

5-year hold

• IRR: -27.4%
• Equity multiple: 0.07×
• Total profit: $-44,106
• Equity at exit: $25,348

10-year hold

• IRR: -23.0%
• Equity multiple: -0.20×
• Total profit: $-57,114
• Equity at exit: $14,698

Cash invested: $47,600 (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 32503

• Rents YoY: 3.4%
• Active inventory: 240
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,653 high
• Mortgage (P&I): −$891
• Tax from tax record: −$218 /mo · $2,617/yr
• Insurance: −$71
• HOA: −$400
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $-275

Break-even live

Break-even rent $2,001

Max offer price $121,505

Occupancy floor —

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2299 Scenic Hwy Pensacola, FL	2.0	2.0	1109	$1,588	$1.43	21d	3	0.10mi
2299 Scenic Hwy Pensacola, FL	2.0	2.0	1109	$1,775	$1.60	13d	2	0.10mi
2201 Scenic Hwy Unit J7 Pensacola, FL	2.0	2.0	1000	$1,750	$1.75	23d	1	0.16mi
710 Scenic Hwy #215 Pensacola, FL	1.0	1.0	702	$1,150	$1.64	23d	1	0.84mi
600 Scenic Hwy Pensacola, FL	1.0–2.0	1.0–1.5	819	$1,750	$2.14	13d	5	0.92mi
300 Bayou Blvd Pensacola, FL	2.0–4.0	1.0–1.5	968	$1,500	$1.55	13d	2	1.12mi
1704 E Lee St Pensacola, FL	3.0	2.0	1226	$2,295	$1.87	23d	1	1.36mi
3150 Belle Meade Dr Unit B Pensacola, FL	2.0	1.5	1050	$1,350	$1.29	23d	1	1.47mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-05-31
   status $170,000 Pending 107 DOM
2. 2026-05-16
   historical Contingent 1009-char remark

   Show marketing remark (1009 chars)

   Tucked away in a clean, well-maintained community, this first-floor corner condo offers the perfect blend of privacy and convenience. Located toward the back of the complex, you’ll enjoy a quiet setting while still being just steps from the best of Pensacola. Walk across the street and take in beautiful views of Pensacola Bay, then head back home to relax in a low-maintenance lifestyle that’s ideal for full-time living or investing. You’re within walking distance to cafes, restaurants, and a local grocery store, making everyday errands and weekend plans effortless. Even better, you’re only 10 minutes from Downtown Pensacola and approximately 15 minutes from the beach, putting you close to everything without being in the middle of the hustle. Whether you’re looking for a place with no yard maintenance, a lock-and-leave lifestyle, or a smart investment opportunity, this condo checks all the boxes—plus, the community features a pool for those sunny Florida days.

3. 2026-04-14
   price $170,000 1009-char remark

   Show marketing remark (1009 chars)

   Tucked away in a clean, well-maintained community, this first-floor corner condo offers the perfect blend of privacy and convenience. Located toward the back of the complex, you’ll enjoy a quiet setting while still being just steps from the best of Pensacola. Walk across the street and take in beautiful views of Pensacola Bay, then head back home to relax in a low-maintenance lifestyle that’s ideal for full-time living or investing. You’re within walking distance to cafes, restaurants, and a local grocery store, making everyday errands and weekend plans effortless. Even better, you’re only 10 minutes from Downtown Pensacola and approximately 15 minutes from the beach, putting you close to everything without being in the middle of the hustle. Whether you’re looking for a place with no yard maintenance, a lock-and-leave lifestyle, or a smart investment opportunity, this condo checks all the boxes—plus, the community features a pool for those sunny Florida days.

4. 2026-02-11
   listed $175,000 Active 1009-char remark

   Show marketing remark (1009 chars)

   Tucked away in a clean, well-maintained community, this first-floor corner condo offers the perfect blend of privacy and convenience. Located toward the back of the complex, you’ll enjoy a quiet setting while still being just steps from the best of Pensacola. Walk across the street and take in beautiful views of Pensacola Bay, then head back home to relax in a low-maintenance lifestyle that’s ideal for full-time living or investing. You’re within walking distance to cafes, restaurants, and a local grocery store, making everyday errands and weekend plans effortless. Even better, you’re only 10 minutes from Downtown Pensacola and approximately 15 minutes from the beach, putting you close to everything without being in the middle of the hustle. Whether you’re looking for a place with no yard maintenance, a lock-and-leave lifestyle, or a smart investment opportunity, this condo checks all the boxes—plus, the community features a pool for those sunny Florida days.

5. 2026-01-22
   historical
6. 2025-12-18
   price $185,000
7. 2025-07-29
   price $199,000
8. 2025-07-29
   price $190,000
9. 2025-07-21
   listed $210,000 Active
10. 1984-03-01
    soldstatus $47,400

ⓘ 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: $2,617 · $218/mo
• Projected year-2 tax: $2,617 · $218/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 ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,836
• − Mortgage interest: −$9,523
• − Property taxes: −$2,617
• − Insurance: −$850
• − Repairs & maintenance: −$1,587
• − Management: −$1,587
• − HOA: −$4,800
• − Depreciation: −$4,945
• Taxable loss: −$6,073
• Est. tax savings @ 24.0%: +$1,457
• After-tax cash flow: $-1,837/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 — Pensacola

• Score: 83/100
• State rank: #53
• US rank: #924

Category grades

Amenities A Commute A+ Cost of living A+ Crime B Employment C Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pensacola, FL
• County: Escambia County · 301,722 people
• City population: 237,636
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 33,559
• Household income: $71,411
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 948.0

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 (68%)
• Race & ethnicity: White 68% Black 20% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Common ancestry: Lithuanian 3% Italian 2% Romanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Arabic 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: ▼ -300.02%
• Current HPI: 294.4873
• Rent YoY: ▲ 3.39%
• 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

+258.6% since first listed

9 events — show timeline

• 2026-05-16 Contingent — PARMLS
• 2026-04-14 Price Changed $170,000 PARMLS
• 2026-02-11 Listed $175,000 PARMLS
• 2026-01-22 Listing Removed — PARMLS
• 2025-12-18 Price Changed $185,000 PARMLS
• 2025-07-29 Price Changed $199,000 PARMLS
• 2025-07-29 Price Changed $190,000 PARMLS
• 2025-07-21 Listed $210,000 PARMLS
• 1984-03-01 Sold (Public Records) $47,400 Public Records

Property tax history

+9.2%/yr

Latest (2025): $2,617 · +9.7% YoY. Source: county tax records.