8608 Grimsley St · Ensley, FL 32534

$49,000

3 bd · 1.0 ba · 1,116 sqft · SingleFamily public records · 26 Days on market

Built 1957 0.31 ac lot $44/sqft · 80% below area

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property had a fire December 2019. Fire was in back corner of house and didn't seem to get into attic area. Owner has cleaned inside of property. New roof was installed April 2019 and New deck which didn't seem to get damaged from fire. Property has grapefruit and orange trees along with large oaks. Large shed stays with the property.

Key facts

• 0.31 acre lot
• Built 1957
• Listed 25 days

Property features AI

Finance

• Other: Building area approximately 1,116 square feet; Lot size approximately 0.31 acres; Property condition: Under construction; Directions provided by listing agent
• HOA & community: No homeowners association

Exterior

• Parking: Front entrance parking
• Utilities: Public water; Public sewer; Electric: Aluminum wiring; Road maintained by county
• Home design: Single-story home; Under construction (new construction); Not attached to another property; Frame construction
• Construction: Composition roof; Off-grade foundation; Built with frame construction
• Exterior features: Central access to the lot

Interior

• Kitchen: Eat-in kitchen; No water heater listed
• Bedrooms: Master bedroom on the first floor
• Flooring: Flooring details listed as 'See Remarks'
• Bathrooms: 1 full bathroom
• Interior features: Storage
• Laundry & utility: See remarks for flooring details

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $49k.

Deal economics

• At list price, monthly cash flow is $846 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $49k).
• Recommended offer: $48k (1.5% below list) — sets the bar for market timing.
• Cap rate 27.0% vs local median 4.7% in Ensley — 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 79/100 on livability (#133 in FL, #1,996 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, employment D, schools 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); 113 active listings in the ZIP; 12 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).
• This rent runs 30% of the median local income ($59k/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 $339 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.6% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 27y ago; this cycle's ask has dropped $6k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $49k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• 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 $48,265 (1.5% below list)

Questions for the listing agent

1. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 3.02% ✓
• Cap rate: 27.00%
• Cash-on-cash: 73.96%
• DSCR: 4.29
• GRM: 2.8

CMA / ARV

• ARV (median comp): $239,658
• List price: $49,000
• Delta: -79.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
236 Barker St	0.38mi	3/1.0	1,042 (-7%)	1mo	$150,000	$144	70
8570 Argo Dr	0.27mi	3/2.0	1,251 (+12%)	2mo	$245,900	$197	62
8422 Cherry Ave	0.61mi	3/2.0	1,145 (+3%)	3mo	$219,000	$191	61
8501 N Ryan Ave	0.66mi	3/1.0	1,056 (-5%)	4mo	$179,000	$170	57
8418 Cherry Ave	0.60mi	3/2.0	1,165 (+4%)	5mo	$219,000	$188	56
514 W Ensley St	0.64mi	3/2.0	1,179 (+6%)	1mo	$230,000	$195	56
8515 Rose Ave	0.75mi	3/2.0	1,145 (+3%)	2mo	$221,000	$193	55
151 Calvert Oaks Dr	0.40mi	3/2.0	1,248 (+12%)	4mo	$248,500	$199	54
8509 Walnut Ave	0.70mi	3/2.0	1,145 (+3%)	7mo	$225,000	$197	53
9350 Everson Ave	0.75mi	3/1.5	1,215 (+9%)	0mo	$199,999	$165	48
8620 Match St	0.71mi	4/2.5 (+1)	1,224 (+10%)	4mo	$101,000	$83	37
8506 Rose Ave	0.72mi	3/2.0	1,250 (+12%)	7mo	$197,500	$158	36

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: 74.5%
• Equity multiple: 4.42×
• Total profit: $46,872
• Equity at exit: $7,306

10-year hold

• IRR: 78.4%
• Equity multiple: 9.32×
• Total profit: $114,136
• Equity at exit: $4,237

Cash invested: $13,720 (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 32534

• Home prices YoY: -19.1%
• Rents YoY: 3.6%
• Active inventory: 113
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,479 high
• Mortgage (P&I): −$257
• Tax from tax record: −$45 /mo · $546/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $846

Break-even live

Break-even rent $409

Max offer price $49,000

Occupancy floor 38%

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: $12,250
• Closing costs: $1,470
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
50 E Ensley St Unit A Pensacola, FL	3.0	2.0	840	$1,150	$1.37	14d	1	0.07mi
8660 Figland Ave Pensacola, FL	3.0	2.0	1106	$1,550	$1.40	14d	1	0.75mi
9095 Airway Dr Pensacola, FL	1.0–3.0	1.0–2.0	1542	$1,809	$1.17	14d	19	0.75mi
130 E 9 Mile Rd #5 Pensacola, FL	2.0	1.0	925	$1,095	$1.18	23d	1	0.84mi
8651 Airway Dr Pensacola, FL	2.0	2.0	1170	$1,682	$1.44	21d	15	0.86mi
288 E Olive Rd Pensacola, FL	1.0–2.0	1.0	750	$1,045	$1.39	23d	2	1.08mi
7812 Oak Forest Dr Pensacola, FL	3.0	1.5	1166	$1,750	$1.50	23d	1	1.22mi
8733 Chisholm Rd Pensacola, FL	3.0	1.0	1030	$1,300	$1.26	23d	1	1.35mi
1015 Sable Dr Unit B Pensacola, FL	2.0	2.0	962	$1,300	$1.35	14d	1	1.43mi
8440 Chisholm Rd Unit B Pensacola, FL	3.0	2.0	1112	$1,525	$1.37	23d	1	1.44mi
1040 Sable Dr Unit c Pensacola, FL	2.0	1.5	1005	$1,200	$1.19	14d	1	1.49mi
1540 Wilimar Pl Pensacola, FL	3.0	2.0	1008	$1,550	$1.54	14d	1	1.49mi

Listing history 17 events

1. 2026-06-03
   days on market $49,000 Active 26 DOM
2. 2026-06-02
   days on market $49,000 Active 25 DOM
3. 2026-06-01
   days on market $49,000 Active 24 DOM
4. 2026-05-31
   days on market $49,000 Active 23 DOM
5. 2026-05-31
   days on market $49,000 Active 22 DOM
6. 2026-05-14
   price $49,000 538-char remark
7. 2026-05-08
   listed $55,000 Active 538-char remark
8. 2022-07-17
   status Pending
9. 2022-07-16
   historical
10. 2022-07-14
    listed $60,000 Active
11. 2020-02-06
    soldstatus $18,500

    Show marketing remark (342 chars)

    Property had a fire December 2019. Fire was in back corner of house and didn't seem to get into attic area. Owner has cleaned inside of property. New roof was installed April 2019 and New deck which didn't seem to get damaged from fire. Property has grapefruit and orange trees along with large oaks. Large shed stays with the property.

12. 2020-01-22
    listed $17,500

    Show marketing remark (342 chars)

    Property had a fire December 2019. Fire was in back corner of house and didn't seem to get into attic area. Owner has cleaned inside of property. New roof was installed April 2019 and New deck which didn't seem to get damaged from fire. Property has grapefruit and orange trees along with large oaks. Large shed stays with the property.

13. 2019-03-19
    soldstatus $22,000
14. 2019-02-07
    listed $14,840
15. 2000-07-07
    soldstatus $43,500
16. 2000-06-30
    soldstatus $43,500
17. 1999-12-08
    listed $46,921

ⓘ 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: $546 · $45/mo
• Projected year-2 tax: $546 · $45/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: $17,748
• − Mortgage interest: −$2,745
• − Property taxes: −$546
• − Insurance: −$245
• − Repairs & maintenance: −$1,420
• − Management: −$1,420
• − Depreciation: −$1,425
• Taxable income: $9,948
• Est. tax owed @ 24.0%: −$2,387
• After-tax cash flow: $7,760/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 — Ensley

• Score: 79/100
• State rank: #133
• US rank: #1996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ensley, FL
• County: Escambia County · 301,722 people
• City population: 15,879
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 17,104
• Household income: $58,992
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 540.0

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 0.65)
• Race & ethnicity: White 51% Black 30% Two or more races 9% Hispanic / Latino 8% Asian 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Serbian 3% Italian 2% Portuguese 1%
• Foreign-born: 8% · Canada, Vietnam, Jamaica
• Languages at home: 89% English-only · Spanish 6% Vietnamese 2% 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: ▼ -60.23%
• Current HPI: 255.7617
• 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

+4.4% since first listed

13 events — show timeline

• 2026-06-05 Listing Removed — PARMLS
• 2026-05-14 Price Changed $49,000 PARMLS
• 2026-05-08 Listed $55,000 PARMLS
• 2022-07-17 Pending — PARMLS
• 2022-07-16 Listing Removed — PARMLS
• 2022-07-14 Listed $60,000 PARMLS
• 2020-02-06 Sold (MLS) $18,500 PARMLS
• 2020-01-22 Listed $17,500 PARMLS
• 2019-03-19 Sold (MLS) $22,000 PARMLS
• 2019-02-07 Listed $14,840 PARMLS
• 2000-07-07 Sold (Public Records) $43,500 Public Records
• 2000-06-30 Sold (MLS) $43,500 PARMLS
• 1999-12-08 Listed $46,921 PARMLS

Property tax history

+5.0%/yr

Latest (2025): $546 · +31.3% YoY. Source: county tax records.