1838 San Dollar Cir · Ferry Pass, FL 32504

$115,000

2 bd · 2.0 ba · 1,440 sqft · Townhouse public records · 3 Days on market

Built 1984 4,356 sqft lot Est $217k · 47% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• 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

2br/1.5ba attached single family residence awaits. This home has over 1,400 sqft of living space with generous room sizes. The kitchen has a center island, electric stove and dishwasher. Priced to sell, this home won't last long!

Key facts

• Centrally located
• Open living area
• Private gated entry

Tags

• PRIVATE GATED ENTRY
• OPEN LIVING AREA
• FIREPLACE
• ROOF REPLACED
• WATER HEATER REPLACED
• CENTRALLY LOCATED

Property features AI

Finance

• Other: County-maintained road; Green features: insulated walls, ridge vent; Has fireplace
• HOA & community: No association

Exterior

• Parking: 2 spaces per unit; Driveway; Open parking
• Utilities: Public water; Public sewer; Circuit breaker electrical
• Home design: Attached property; One-story; Resale
• Construction: Frame construction; Slab foundation
• Exterior features: Back yard fencing; Located on a cul-de-sac; Shingle roof

Interior

• Kitchen: Laminate counters
• Bedrooms: Master bedroom on the first floor (approx. 13 x 15); Second bedroom on the first floor (approx. 11 x 12)
• Flooring: Tile; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating; Fireplace(s) (heating); Central air; Ceiling fan(s)
• Interior features: Bonus room; Living/dining combo
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $115k.

Deal economics

• At list price, monthly cash flow is $562 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 12.2% 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); 173 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $795 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y 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 $34k; list at $115k implies a 243% 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 $115,000

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. 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.
4. 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.
5. 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: 1.38% ✓
• Cap rate: 12.16%
• Cash-on-cash: 20.95%
• DSCR: 1.93
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $217,440
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1951 Creighton Rd	0.08mi	3/1.5 (+1)	1,330 (-8%)	6mo	$166,000	$125	72
7174 Village Ln	0.35mi	3/2.5 (+1)	1,537 (+7%)	1mo	$232,000	$151	65
7139 Village Ln	0.34mi	3/2.5 (+1)	1,537 (+7%)	4mo	$224,900	$146	62
7131 Village Ln	0.34mi	3/2.5 (+1)	1,537 (+7%)	4mo	$227,900	$148	62
7143 Village Ln	0.34mi	3/2.5 (+1)	1,537 (+7%)	4mo	$234,900	$153	62
7163 Village Ln	0.36mi	3/2.5 (+1)	1,537 (+7%)	6mo	$234,000	$152	60
7071 Cedar Grove Rd Unit 6A	0.43mi	3/2.5 (+1)	1,543 (+7%)	1mo	$225,900	$146	60
7151 Village Ln	0.35mi	3/2.5 (+1)	1,553 (+8%)	5mo	$234,900	$151	60
7059 Cedar Grove Rd Unit 3A	0.43mi	3/2.5 (+1)	1,543 (+7%)	2mo	$238,900	$155	59
7135 Village Ln	0.34mi	3/2.5 (+1)	1,537 (+7%)	8mo	$236,900	$154	59
7183 Village Ln	0.38mi	3/2.5 (+1)	1,553 (+8%)	4mo	$234,900	$151	59
7123 Village Ln	0.33mi	3/2.5 (+1)	1,553 (+8%)	7mo	$249,000	$160	58

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: 14.0%
• Equity multiple: 1.56×
• Total profit: $18,154
• Equity at exit: $17,147

10-year hold

• IRR: 23.2%
• Equity multiple: 3.05×
• Total profit: $65,991
• Equity at exit: $9,943

Cash invested: $32,200 (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: 173
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,592 high
• Mortgage (P&I): −$603
• Tax from tax record: −$45 /mo · $537/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $562

Break-even live

Break-even rent $881

Max offer price $115,000

Occupancy floor 60%

Sensitivity live

Price	-10% $627	-5% $595	+0% $562	+5% $530	+10% $497
Rent	-10% $436	-5% $499	+0% $562	+5% $625	+10% $688
Rate	-1.0pp $620	-0.5pp $591	base $562	+0.5pp $532	+1.0pp $502

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1843 San Dollar Cir Unit 1843 Pensacola, FL	2.0	1.0	920	$1,400	$1.52	24d	1	0.05mi
7074 Javelin Ct Pensacola, FL	3.0	2.5	1543	$1,850	$1.20	15d	30	0.20mi
7104 Cedar Grove Way Ferry Pass, FL	3.0	2.5	1534	$1,850	$1.21	15d	37	0.38mi
6409 Concord Way Pensacola, FL	2.0	2.0	990	$2,100	$2.12	24d	1	0.46mi
7322 Mangum Dr Unit 7322 Pensacola, FL	2.0	2.0	1100	$1,450	$1.32	24d	1	0.49mi
2106 Schwab Ct Unit B Pensacola, FL	2.0	1.5	960	$1,595	$1.66	15d	1	0.52mi
7650 Kipling St Unit 1 Pensacola, FL	3.0	2.0	1200	$1,300	$1.08	24d	1	0.64mi
700 College Blvd Pensacola, FL	1.0–2.0	1.0–2.0	850	$1,381	$1.62	15d	9	0.85mi
711 Underwood Ave Pensacola, FL	3.0	1.0–2.5	950	$1,472	$1.55	15d	25	0.85mi
3205 E Olive Rd Pensacola, FL	1.0–2.0	1.0–2.0	900	$1,540	$1.71	15d	8	0.91mi
7101 Joy St Unit I5 Pensacola, FL	3.0	2.0	1183	$1,950	$1.65	24d	1	0.94mi
7155 N 9th Ave Pensacola, FL	1.0–2.0	1.0	850	$1,575	$1.85	15d	4	0.97mi
7171 N 9th Ave Unit D6 Pensacola, FL	2.0	2.0	1204	$1,450	$1.20	15d	1	1.04mi
6016 Sewell St Pensacola, FL	3.0	1.5	1377	$1,650	$1.20	24d	1	1.06mi
2813 Langley Ave Pensacola, FL	2.0	2.0	1078	$1,450	$1.35	24d	1	1.06mi
8053 Malibu Cir Pensacola, FL	3.0	2.0	1575	$1,810	$1.15	15d	1	1.07mi
7601 N 9th Ave Pensacola, FL	1.0–2.0	1.0–2.0	855	$1,467	$1.72	15d	7	1.27mi
8108 Ridgefield Rd Pensacola, FL	3.0	2.0	1485	$2,000	$1.35	15d	1	1.35mi
4051 E Olive Rd Pensacola, FL	1.0–2.0	1.0–2.0	855	$1,425	$1.67	24d	37	1.41mi
1857 Atwood Dr Pensacola, FL	1.0–2.0	1.0–1.5	892	$1,399	$1.57	24d	1	1.41mi
6115 N Davis Hwy Pensacola, FL	1.0–3.0	1.0–2.0	1112	$1,625	$1.46	15d	10	1.48mi
7840 Lilac Ln Pensacola, FL	1.0–3.0	1.0–2.0	1025	$1,690	$1.65	15d	16	1.49mi
3730 Forest Glen Dr Pensacola, FL	3.0	2.0	1107	$1,660	$1.50	24d	1	1.49mi

Listing history 11 events

1. 2026-05-24
   listed $115,000 Active
2. 2012-01-20
   soldstatus $33,501 231-char remark

   Show marketing remark (231 chars)

   2br/1.5ba attached single family residence awaits. This home has over 1,400 sqft of living space with generous room sizes. The kitchen has a center island, electric stove and dishwasher. Priced to sell, this home won't last long!

3. 2011-12-22
   listed $32,000 231-char remark

   Show marketing remark (231 chars)

   2br/1.5ba attached single family residence awaits. This home has over 1,400 sqft of living space with generous room sizes. The kitchen has a center island, electric stove and dishwasher. Priced to sell, this home won't last long!

4. 2001-10-03
   soldstatus $51,900
5. 2001-10-03
   soldstatus $51,900
6. 2001-09-28
   soldstatus $51,900 157-char remark

   Show marketing remark (157 chars)

   WELL KEPT TOWNHOME ON LARGE CUL-DE -SAC. FAMILY ROOM WITH FIREPLACE. INSIDE LAUNDRY ROOM. OUTSIDE STORAGE AREA. LARGE KITCHEN WITH ISLAND. UPDATED DISHWASHER

7. 2001-08-21
   listed $49,999 157-char remark

   Show marketing remark (157 chars)

   WELL KEPT TOWNHOME ON LARGE CUL-DE -SAC. FAMILY ROOM WITH FIREPLACE. INSIDE LAUNDRY ROOM. OUTSIDE STORAGE AREA. LARGE KITCHEN WITH ISLAND. UPDATED DISHWASHER

8. 2000-11-19
   historical
9. 2000-05-19
   listed $54,850
10. 1994-04-26
    soldstatus $49,000
11. 1984-11-01
    soldstatus $42,600

ⓘ 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: $537 · $45/mo
• Projected year-2 tax: $954 · $80/mo
• Expected delta: +$417/yr (+$35/mo · 77.7%)

ⓘ 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: $19,109
• − Mortgage interest: −$6,442
• − Property taxes: −$537
• − Insurance: −$575
• − Repairs & maintenance: −$1,529
• − Management: −$1,529
• − Depreciation: −$3,345
• Taxable income: $5,152
• Est. tax owed @ 24.0%: −$1,236
• After-tax cash flow: $5,511/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

+170.0% since first listed

11 events — show timeline

• 2026-05-24 Listed $115,000 PARMLS
• 2012-01-20 Sold (MLS) $33,501 PARMLS
• 2011-12-22 Listed $32,000 PARMLS
• 2001-10-03 Sold (Public Records) $51,900 Public Records
• 2001-10-03 Sold (Public Records) $51,900 Public Records
• 2001-09-28 Sold (MLS) $51,900 PARMLS
• 2001-08-21 Listed $49,999 PARMLS
• 2000-11-19 Listing Removed — PARMLS
• 2000-05-19 Listed $54,850 PARMLS
• 1994-04-26 Sold (Public Records) $49,000 Public Records
• 1984-11-01 Sold (Public Records) $42,600 Public Records

Property tax history

+5.9%/yr

Latest (2025): $537 · +31.9% YoY. Source: county tax records.