6420 Concord Way · Ferry Pass, FL 32504

$179,000

2 bd · 2.0 ba · 1,285 sqft · Townhouse public records · 30 Days on market

Built 1983 2,178 sqft lot Est $175k · at est.

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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 +19.3/30.0
• ARV discount +6.4/15.0
• DSCR +6.1/10.0
• 1% rule +4.5/10.0
• 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

The location truly couldn’t be more convenient—just minutes from Cordova Mall, Pensacola State College, Sacred Heart Hospital, beautiful beaches, popular restaurants, and the post office. Both bedrooms offer exceptional space, providing comfort and flexibility for any lifestyle. Owner has just completed a fresh paint job, installed new carpet and replaced the roof in 2026.

Key facts

• New carpet
• Fresh paint job
• 2 parking spots

Tags

• FRESH PAINT JOB
• NEW CARPET

Property features AI

Finance

• Other: Publicly maintained road
• HOA & community: No association

Exterior

• Parking: 2 spaces per unit
• Utilities: Public water; Public sewer; Electric with circuit breakers
• Home design: Attached property; Two levels
• Construction: Frame construction; Slab foundation; Composition roof; Resale property
• Exterior features: Privacy fencing in the back yard; Interior lot

Interior

• Kitchen: Built-in microwave; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: Master bedroom approx. 13 x 14; Second bedroom located on the second level, approx. 17.9 x 10.8
• Flooring: Tile; Vinyl; Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans
• Interior features: Blinds on windows; Updated kitchen (paint and appliances within last 1–5 years)
• Laundry & utility: Washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $179k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $170k (4.9% below list).
• Recommended offer: $170k (4.9% below list) — sets the bar for 1% rule.
• 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 30 days — a 2% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $32k; list at $179k implies a 459% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,155 (4.9% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $174,760
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2838 Villager Cir	0.55mi	2/2.0	1,290 (+0%)	5mo	$199,000	$154	69
1873 Loyola Ave	0.38mi	3/1.5 (+1)	1,288 (+0%)	11mo	$160,000	$124	66
6308 Long St	0.50mi	2/2.0	1,290 (+0%)	14mo	$170,000	$132	65
2827 Villager Cir	0.51mi	2/2.0	1,290 (+0%)	14mo	$210,000	$163	64
6303 Harvard Ct	0.41mi	3/1.5 (+1)	1,308 (+2%)	10mo	$148,000	$113	63
1951 Creighton Rd	0.44mi	3/1.5 (+1)	1,330 (+4%)	6mo	$166,000	$125	62
6301 Langley Place Rd	0.60mi	2/2.0	1,180 (-8%)	1mo	$176,500	$150	58
2813 Langley Ave Unit E209	0.60mi	3/2.0 (+1)	1,358 (+6%)	5mo	$135,000	$99	53
6152 Chablis Ln	0.70mi	2/2.0	1,214 (-6%)	10mo	$195,000	$161	49
6400 Long St #5	0.50mi	2/2.0	1,128 (-12%)	10mo	$125,000	$111	47
6255 Kirsten Dr	0.71mi	3/1.5 (+1)	1,246 (-3%)	18mo	$178,000	$143	40
6120 The Oaks Ln	0.57mi	3/2.5 (+1)	1,470 (+14%)	6mo	$200,000	$136	37

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: -8.3%
• Equity multiple: 0.69×
• Total profit: $-15,336
• Equity at exit: $26,689

10-year hold

• IRR: 2.0%
• Equity multiple: 1.15×
• Total profit: $7,278
• Equity at exit: $15,477

Cash invested: $50,120 (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: 8.8×

Monthly cashflow live

• Estimated rent: $1,702 high
• Mortgage (P&I): −$939
• Tax from tax record: −$133 /mo · $1,595/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $198

Break-even live

Break-even rent $1,451

Max offer price $179,000

Occupancy floor 83%

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6409 Concord Way Pensacola, FL	2.0	2.0	990	$2,100	$2.12	23d	1	0.04mi
2106 Schwab Ct Unit B Pensacola, FL	2.0	1.5	960	$1,595	$1.66	13d	1	0.28mi
1843 San Dollar Cir Unit 1843 Pensacola, FL	2.0	1.0	920	$1,400	$1.52	23d	1	0.47mi
2813 Langley Ave Pensacola, FL	2.0	2.0	1078	$1,450	$1.35	23d	1	0.59mi
7074 Javelin Ct Pensacola, FL	3.0	2.5	1543	$1,850	$1.20	13d	30	0.69mi
711 Underwood Ave Pensacola, FL	3.0	1.0–2.5	950	$1,472	$1.55	13d	25	0.71mi
700 College Blvd Pensacola, FL	1.0–2.0	1.0–2.0	850	$1,381	$1.62	13d	9	0.76mi
7155 N 9th Ave Pensacola, FL	1.0–2.0	1.0	850	$1,575	$1.85	13d	4	0.85mi
7104 Cedar Grove Way Ferry Pass, FL	3.0	2.5	1534	$1,850	$1.21	13d	37	0.88mi
7171 N 9th Ave Unit D6 Pensacola, FL	2.0	2.0	1204	$1,450	$1.20	13d	1	0.93mi
7322 Mangum Dr Unit 7322 Pensacola, FL	2.0	2.0	1100	$1,450	$1.32	23d	1	0.99mi
7650 Kipling St Unit 1 Pensacola, FL	3.0	2.0	1200	$1,300	$1.08	23d	1	1.09mi
3730 Forest Glen Dr Pensacola, FL	3.0	2.0	1107	$1,660	$1.50	23d	1	1.13mi
3795 Summer Dr Pensacola, FL	3.0	2.0	1650	$2,600	$1.58	23d	1	1.15mi
7601 N 9th Ave Pensacola, FL	1.0–2.0	1.0–2.0	855	$1,467	$1.72	13d	7	1.23mi
3205 E Olive Rd Pensacola, FL	1.0–2.0	1.0–2.0	900	$1,540	$1.71	13d	8	1.26mi
8053 Malibu Cir Pensacola, FL	3.0	2.0	1575	$1,810	$1.15	13d	1	1.32mi
7101 Joy St Unit I5 Pensacola, FL	3.0	2.0	1183	$1,950	$1.65	23d	1	1.39mi
5941 Leesway Blvd Pensacola, FL	3.0	2.0	1549	$1,975	$1.28	21d	1	1.43mi
6016 Sewell St Pensacola, FL	3.0	1.5	1377	$1,650	$1.20	23d	1	1.47mi
4140 April Rd Pensacola, FL	3.0	2.0	1506	$1,800	$1.20	21d	1	1.48mi
4051 E Olive Rd Pensacola, FL	1.0–2.0	1.0–2.0	855	$1,425	$1.67	23d	37	1.49mi
8108 Ridgefield Rd Pensacola, FL	3.0	2.0	1485	$2,000	$1.35	13d	1	1.50mi

Listing history 30 events

1. 2026-06-18
   days on market $179,000 Active 30 DOM
2. 2026-06-17
   days on market $179,000 Active 29 DOM
3. 2026-06-16
   days on market $179,000 Active 28 DOM
4. 2026-06-15
   days on market $179,000 Active 27 DOM
5. 2026-06-14
   days on market $179,000 Active 25 DOM
6. 2026-06-10
   days on market $179,000 Active 22 DOM
7. 2026-06-09
   days on market $179,000 Active 21 DOM
8. 2026-06-08
   days on market $179,000 Active 20 DOM
9. 2026-06-07
   days on market $179,000 Active 19 DOM
10. 2026-06-03
    days on market $179,000 Active 15 DOM
11. 2026-06-02
    days on market $179,000 Active 14 DOM
12. 2026-06-01
    days on market $179,000 Active 13 DOM
13. 2026-05-31
    days on market $179,000 Active 12 DOM
14. 2026-05-31
    days on market $179,000 Active 11 DOM
15. 2026-05-19
    listed $179,000 Active
16. 2025-03-21
    historical $1,250
17. 2025-03-04
    price $1,250
18. 2025-02-01
    price $1,300
19. 2024-12-12
    price $1,350
20. 2024-11-27
    price $1,400
21. 2024-11-14
    price $1,425
22. 2024-11-01
    listed $1,450
23. 2024-05-29
    historical $1,400
24. 2024-05-15
    price $1,400
25. 2024-04-30
    price $1,425
26. 2024-04-03
    price $1,450
27. 2024-03-21
    price $1,500
28. 2024-03-01
    listed $1,550
29. 1996-05-29
    soldstatus $32,000
30. 1985-10-01
    soldstatus $42,900

ⓘ 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: $1,595 · $133/mo
• Projected year-2 tax: $1,595 · $133/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 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 23 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: $20,419
• − Mortgage interest: −$10,027
• − Property taxes: −$1,595
• − Insurance: −$895
• − Repairs & maintenance: −$1,633
• − Management: −$1,633
• − Depreciation: −$5,207
• Taxable loss: −$572
• Est. tax savings @ 24.0%: +$137
• After-tax cash flow: $2,514/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

+317.2% since first listed

16 events — show timeline

• 2026-05-19 Listed $179,000 PARMLS
• 2025-03-21 Rental Removed $1,250 PARMLS
• 2025-03-04 Price Changed $1,250 PARMLS
• 2025-02-01 Price Changed $1,300 PARMLS
• 2024-12-12 Price Changed $1,350 PARMLS
• 2024-11-27 Price Changed $1,400 PARMLS
• 2024-11-14 Price Changed $1,425 PARMLS
• 2024-11-01 Listed for Rent $1,450 PARMLS
• 2024-05-29 Rental Removed $1,400 PARMLS
• 2024-05-15 Price Changed $1,400 PARMLS
• 2024-04-30 Price Changed $1,425 PARMLS
• 2024-04-03 Price Changed $1,450 PARMLS
• 2024-03-21 Price Changed $1,500 PARMLS
• 2024-03-01 Listed for Rent $1,550 PARMLS
• 1996-05-29 Sold (Public Records) $32,000 Public Records
• 1985-10-01 Sold (Public Records) $42,900 Public Records

Property tax history

+7.1%/yr

Latest (2025): $1,595 · +17.2% YoY. Source: county tax records.