1905 N S St · West Pensacola, FL 32505

$123,000

3 bd · 2.0 ba · 1,247 sqft · SingleFamily public records · 68 Days on market

Built 1971 9,583 sqft lot Est $203k · 39% under

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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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LARGE KITCHEN W/BREAKFAST BAR AND UTILITY ROOM W/EXTRA MUD OR STORAGE ROOM. WALKING DISTANCE TO T AND W., FENCED YARD W/DOUBLE GATES. DUCT WORK IN PLACE FOR CENTRAL H/A.

Key facts

• Brand new roof
• New flooring
• Major updates

Tags

• BRAND NEW ROOF
• NEW FLOORING
• QUICK ACCESS TO DOWNTOWN
• MAJOR UPDATES

Property features AI

Finance

• Other: Lot size approximately 0.22 acres; Building area reported as 1,247 square feet; Directions: corner of S and Avery Street
• HOA & community: No homeowners association

Exterior

• Parking: Carport and driveway; Total of 1 covered parking space and 1 carport space (open parking available)
• Utilities: Copper wiring; Septic tank (sewer); Sewer available
• Home design: Single-story home; Resale property; Not attached to another property; Construction combines brick and frame
• Construction: Slab foundation; Brick and frame construction
• Exterior features: Metal roof; Paved road access; County-maintained road

Interior

• Kitchen: Electric water heater
• Bedrooms: Primary bedroom on the first floor (approx. 10' x 10'); Bedroom on the first floor (approx. 10' x 13'); Second additional bedroom on the first floor (approx. 11' x 11')
• Flooring: Vinyl; Carpet
• Bathrooms: One full bathroom; One half bathroom; Bathroom features not updated
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Vinyl and carpet flooring
• Laundry & utility: Sewer available

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $123k).
• Recommended offer: $116k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 7.7% in West Pensacola — 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 66/100 on livability (#629 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime D, schools F, 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 fast (+4.9%/yr); 198 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,479 units permitted in Escambia County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($45k/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 $850 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.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $34k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $27k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $123k implies a 252% 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 $115,620 (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. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.30% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.13%
• DSCR: 1.67
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $203,261
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1905 N S St	0.00mi	3/1.5	1,247 (0%)	1mo	$95,000	$76	97
78 Hunter Ave	0.37mi	3/2.0	1,188 (-5%)	1mo	$135,000	$114	74
2406 W Jordan St	0.20mi	3/1.0	1,126 (-10%)	4mo	$150,000	$133	67
1716 N S St	0.11mi	3/1.0	1,080 (-13%)	4mo	$130,000	$120	66
2312 W Lakeview Ave	0.13mi	3/2.0	1,425 (+14%)	7mo	$239,000	$168	64
2419 N L St	0.63mi	3/2.0	1,285 (+3%)	2mo	$247,000	$192	63
2705 W Brainerd St	0.52mi	3/2.0	1,384 (+11%)	1mo	$225,000	$163	56
1120 N L St	0.69mi	3/1.0	1,212 (-3%)	6mo	$75,000	$62	54
1100 Hayden Ct	0.57mi	3/2.0	1,113 (-11%)	3mo	$245,000	$220	53
2920 W Gonzalez St	0.61mi	3/1.0	1,144 (-8%)	2mo	$214,000	$187	52
2116 W De Soto St	0.65mi	3/2.0	1,344 (+8%)	7mo	$260,000	$193	51
2002 W Gonzalez St	0.63mi	3/1.0	1,112 (-11%)	6mo	$145,000	$130	43

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 · 4.92% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.32×
• Total profit: $10,874
• Equity at exit: $18,340

10-year hold

• IRR: 18.7%
• Equity multiple: 2.70×
• Total profit: $58,532
• Equity at exit: $10,635

Cash invested: $34,440 (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 32505

• Home prices YoY: -26.5%
• Rents YoY: 4.9%
• Active inventory: 198
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,597 high
• Mortgage (P&I): −$645
• Tax from tax record: −$131 /mo · $1,572/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $434

Break-even live

Break-even rent $1,047

Max offer price $123,000

Occupancy floor 68%

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2303 W Brainerd St Pensacola, FL	2.0	1.0	955	$1,100	$1.15	23d	1	0.52mi
3206 W Lee St Unit A Pensacola, FL	2.0	1.0	800	$1,550	$1.94	13d	1	0.62mi
1918 W Strong St Unit B Pensacola, FL	2.0	1.0	870	$950	$1.09	13d	1	0.77mi
3417 W Fisher St Unit C Pensacola, FL	3.0	2.0	1106	$1,350	$1.22	23d	1	0.86mi
1218 N Kirk St Pensacola, FL	2.0	1.0	850	$1,150	$1.35	23d	1	0.91mi
1717 W Cervantes St Pensacola, FL	2.0	2.0	974	$1,169	$1.20	13d	3	0.94mi
406 N S St Pensacola, FL	2.0	1.0	806	$1,295	$1.61	23d	1	0.99mi
721 W Jordan St Pensacola, FL	3.0	2.0	1030	$1,895	$1.84	23d	1	1.05mi
852 Garnet St Pensacola, FL	3.0	1.5	1150	$1,150	$1.00	13d	1	1.10mi
315 N Pace Blvd Unit b Pensacola, FL	3.0	2.0	1342	$1,650	$1.23	23d	1	1.11mi
315 N Pace Blvd Unit A Pensacola, FL	3.0	2.0	1342	$1,850	$1.38	23d	1	1.11mi
1804 W Belmont St Unit A Pensacola, FL	3.0	1.0	925	$995	$1.08	21d	1	1.12mi
309 N Pace Blvd Unit B Pensacola, FL	3.0	2.0	1342	$1,650	$1.23	23d	1	1.12mi
1215 N C St Pensacola, FL	3.0	1.0	1203	$1,775	$1.48	13d	1	1.15mi
419 N Wentworth St Pensacola, FL	2.0	1.0	1100	$1,195	$1.09	23d	1	1.17mi
1010 N D St Pensacola, FL	2.0	2.0	1196	$1,850	$1.55	23d	1	1.17mi
407 W Jordan St Unit NA Pensacola, FL	3.0	2.0	1300	$2,200	$1.69	23d	1	1.18mi
814 N E St Pensacola, FL	3.0	2.0	1440	$1,695	$1.18	23d	1	1.19mi
811 N D St Pensacola, FL	2.0	2.0	1035	$1,395	$1.35	23d	1	1.22mi
510 N G St Pensacola, FL	2.0	1.0	704	$850	$1.21	23d	1	1.23mi
239 N K St Pensacola, FL	3.0	2.0	1392	$1,950	$1.40	23d	1	1.26mi
3740 Frontera Cir Pensacola, FL	3.0	1.0	1024	$1,295	$1.26	23d	1	1.36mi
707 New York Dr Pensacola, FL	2.0	1.0	1266	$1,185	$0.94	23d	1	1.45mi
418 N C St Pensacola, FL	3.0	2.0	1017	$2,775	$2.73	13d	1	1.46mi
615 N A St Pensacola, FL	3.0	2.0	1122	$1,900	$1.69	13d	1	1.46mi
410 N C St Unit 1367374P Pensacola, FL	3.0	2.0	1291	$3,313	$2.57	13d	1	1.47mi

Listing history 9 events

1. 2026-05-10
   status Pending
2. 2026-04-16
   price $123,000
3. 2026-03-17
   price $145,000
4. 2026-03-02
   listed $150,000 Active
5. 2007-09-25
   soldstatus $34,900 169-char remark

   Show marketing remark (169 chars)

   LARGE KITCHEN W/BREAKFAST BAR AND UTILITY ROOM W/EXTRA MUD OR STORAGE ROOM. WALKING DISTANCE TO T AND W., FENCED YARD W/DOUBLE GATES. DUCT WORK IN PLACE FOR CENTRAL H/A.

6. 2006-08-09
   listed $34,900 169-char remark

   Show marketing remark (169 chars)

   LARGE KITCHEN W/BREAKFAST BAR AND UTILITY ROOM W/EXTRA MUD OR STORAGE ROOM. WALKING DISTANCE TO T AND W., FENCED YARD W/DOUBLE GATES. DUCT WORK IN PLACE FOR CENTRAL H/A.

7. 2005-04-12
   soldstatus $65,000
8. 2000-08-18
   soldstatus $51,000
9. 1997-12-24
   soldstatus $43,000

ⓘ 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: $1,572 · $131/mo
• Projected year-2 tax: $1,572 · $131/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: $19,161
• − Mortgage interest: −$6,890
• − Property taxes: −$1,572
• − Insurance: −$615
• − Repairs & maintenance: −$1,533
• − Management: −$1,533
• − Depreciation: −$3,578
• Taxable income: $3,440
• Est. tax owed @ 24.0%: −$826
• After-tax cash flow: $4,384/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 — West Pensacola

• Score: 66/100
• State rank: #629
• US rank: #12275

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Pensacola, FL
• County: Escambia County · 301,722 people
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 27,877
• Household income: $44,783
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 1458.0

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 0.66)
• Race & ethnicity: Black 48% White 32% Hispanic / Latino 11% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 5% Cuban 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 1% Vietnamese 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: ▼ -74.10%
• Current HPI: 205.45
• Rent YoY: ▲ 4.92%
• 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

+186.0% since first listed

9 events — show timeline

• 2026-05-10 Pending — PARMLS
• 2026-04-16 Price Changed $123,000 PARMLS
• 2026-03-17 Price Changed $145,000 PARMLS
• 2026-03-02 Listed $150,000 PARMLS
• 2007-09-25 Sold (MLS) $34,900 PARMLS
• 2006-08-09 Listed $34,900 PARMLS
• 2005-04-12 Sold (Public Records) $65,000 Public Records
• 2000-08-18 Sold (Public Records) $51,000 Public Records
• 1997-12-24 Sold (Public Records) $43,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,572 · +17.8% YoY. Source: county tax records.