4251 Albany St · Pace, FL 32571

$245,000

2 bd · 2.0 ba · 1,352 sqft · SingleFamily public records

Built 2000 0.34 ac lot Est $235k · at est.

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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).

• Cash flow +9.8/30.0
• ARV discount +5.6/15.0
• Schools +5.3/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2-bedroom, 2-bathroom residence offers an inviting blend of modern updates and cozy living spaces, perfect for a family or anyone seeking a versatile property with ample outdoor amenities. Step inside to discover a beautifully remodeled kitchen featuring modern cabinetry, granite counters, a timeless backsplash, and new fixtures. The open layout seamlessly connects the kitchen to the main living room, where stylish white barn doors create a striking contrast with the light wood-look LVP flooring that flows throughout the bedrooms, main living area, and kitchen. A bonus living space offers flexibility for a home office, playroom, or additional guest area. Outdoor living is a real highlight of this property with a spacious 350 sq ft screened-in back porch, ideal for relaxing or entertaining, and a 132 sq ft covered patio for enjoying the fresh air in any weather. The expansive .34-acre lot provides ample room for gardening, recreation, or future expansion. For the hobbyist or professional, the 28' x 24' outdoor workshop is a standout feature. Equipped with running water and electricity, it offers endless possibilities for projects, storage, or even a small business operation. This property is not just a home; it’s a lifestyle. With its modern updates, versatile spaces, and extensive outdoor amenities, it’s ready to meet all your needs. Don’t miss the chance to make this wonderful property your own!

Key facts

• 0.34 acre lot
• 2 parking spots
• Built 2000

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $245k.

Deal economics

• At list price, monthly cash flow is $-225 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $205k (16.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (27.7% below list).
• Recommended offer: $177k (27.7% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.4% in Pace — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 69/100 on livability (#475 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, health & safety F.
• Santa Rosa (suburban): math 63% / reading 60% proficiency, ranked #8 of 73 in FL (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: S. S. Dixon Intermediate School (math 73% / reading 67%, grade A-, #345 of 2,144 statewide, top 17%, 920 students, 40% FRL); Thomas L Sims Middle School (math 77% / reading 65%, grade A, #59 of 571 statewide, top 11%, 1,098 students, 34% FRL); Pace High School (math 63% / reading 62%, grade B-, #93 of 667 statewide, top 14%, 2,240 students, 34% FRL) — zoned schools at 36% FRL track the district average.
• Market conditions: Rents rising (+2.7%/yr); 674 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,983 units permitted in Santa Rosa County in 2024 (128 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Santa Rosa County population projected at +31% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• 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 $177,076 (27.7% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 0.72% ✗
• Cap rate: 5.52%
• Cash-on-cash: -2.77%
• DSCR: 0.88
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $235,248
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4225 Willow St	0.27mi	3/2.0 (+1)	1,372 (+2%)	8mo	$249,000	$181	73
4316 Floridatown Rd	0.35mi	2/1.5	1,316 (-3%)	8mo	$215,000	$163	70
4308 Floridatown Rd	0.36mi	3/2.0 (+1)	1,264 (-6%)	1mo	$205,000	$162	67
4044 Edgefield St	0.50mi	3/2.0 (+1)	1,276 (-6%)	3mo	$245,000	$192	60
4221 Willow St	0.30mi	3/2.0 (+1)	1,262 (-7%)	16mo	$240,000	$190	56
3950 Thornton St	0.20mi	3/2.0 (+1)	1,167 (-14%)	8mo	$245,000	$210	56
3830 University St	0.56mi	3/2.0 (+1)	1,382 (+2%)	11mo	$285,000	$206	56
4224 Seaport Rd	0.52mi	3/2.0 (+1)	1,436 (+6%)	11mo	$216,000	$150	52
4305 Queens Ct	0.46mi	3/2.0 (+1)	1,461 (+8%)	14mo	$229,000	$157	48
3985 Whitehall Dr	0.30mi	3/1.0 (+1)	1,172 (-13%)	10mo	$195,000	$166	46
4324 Jernigan Rd	0.43mi	3/2.0 (+1)	1,180 (-13%)	16mo	$205,000	$174	40
4285 Seventh Ave	0.66mi	3/2.0 (+1)	1,534 (+14%)	6mo	$194,450	$127	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 · 2.72% rent growth · sell at horizon

5-year hold

• IRR: -23.2%
• Equity multiple: 0.21×
• Total profit: $-54,535
• Equity at exit: $36,530

10-year hold

• IRR: -18.6%
• Equity multiple: 0.01×
• Total profit: $-68,024
• Equity at exit: $21,183

Cash invested: $68,600 (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 32571

• Home prices YoY: -17.7%
• Rents YoY: 2.7%
• Active inventory: 674
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,771 medium
• Mortgage (P&I): −$1,285
• Tax from tax record: −$170 /mo · $2,045/yr
• Insurance: −$102
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $-225

Break-even live

Break-even rent $2,055

Max offer price $205,278

Occupancy floor —

Sensitivity live

Price	-10% $-86	-5% $-156	+0% $-225	+5% $-294	+10% $-364
Rent	-10% $-365	-5% $-295	+0% $-225	+5% $-155	+10% $-85
Rate	-1.0pp $-101	-0.5pp $-163	base $-225	+0.5pp $-288	+1.0pp $-353

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3982 Edgefield St Milton, FL	3.0	2.0	1135	$1,750	$1.54	16d	1	0.59mi
4606 Southern Pl Milton, FL	3.0	1.5	1431	$1,500	$1.05	16d	1	1.22mi

Listing history 10 events

1. 2024-08-30
   soldstatus $236,000 Sold 1451-char remark

   Show marketing remark (1451 chars)

   This charming 2-bedroom, 2-bathroom residence offers an inviting blend of modern updates and cozy living spaces, perfect for a family or anyone seeking a versatile property with ample outdoor amenities. Step inside to discover a beautifully remodeled kitchen featuring modern cabinetry, granite counters, a timeless backsplash, and new fixtures. The open layout seamlessly connects the kitchen to the main living room, where stylish white barn doors create a striking contrast with the light wood-look LVP flooring that flows throughout the bedrooms, main living area, and kitchen. A bonus living space offers flexibility for a home office, playroom, or additional guest area. Outdoor living is a real highlight of this property with a spacious 350 sq ft screened-in back porch, ideal for relaxing or entertaining, and a 132 sq ft covered patio for enjoying the fresh air in any weather. The expansive .34-acre lot provides ample room for gardening, recreation, or future expansion. For the hobbyist or professional, the 28' x 24' outdoor workshop is a standout feature. Equipped with running water and electricity, it offers endless possibilities for projects, storage, or even a small business operation. This property is not just a home; it’s a lifestyle. With its modern updates, versatile spaces, and extensive outdoor amenities, it’s ready to meet all your needs. Don’t miss the chance to make this wonderful property your own!

2. 2024-08-30
   soldstatus $236,000

   Show marketing remark (1451 chars)

   This charming 2-bedroom, 2-bathroom residence offers an inviting blend of modern updates and cozy living spaces, perfect for a family or anyone seeking a versatile property with ample outdoor amenities. Step inside to discover a beautifully remodeled kitchen featuring modern cabinetry, granite counters, a timeless backsplash, and new fixtures. The open layout seamlessly connects the kitchen to the main living room, where stylish white barn doors create a striking contrast with the light wood-look LVP flooring that flows throughout the bedrooms, main living area, and kitchen. A bonus living space offers flexibility for a home office, playroom, or additional guest area. Outdoor living is a real highlight of this property with a spacious 350 sq ft screened-in back porch, ideal for relaxing or entertaining, and a 132 sq ft covered patio for enjoying the fresh air in any weather. The expansive .34-acre lot provides ample room for gardening, recreation, or future expansion. For the hobbyist or professional, the 28' x 24' outdoor workshop is a standout feature. Equipped with running water and electricity, it offers endless possibilities for projects, storage, or even a small business operation. This property is not just a home; it’s a lifestyle. With its modern updates, versatile spaces, and extensive outdoor amenities, it’s ready to meet all your needs. Don’t miss the chance to make this wonderful property your own!

3. 2024-08-05
   status Pending
4. 2024-08-04
   historical Contingent 1451-char remark

   Show marketing remark (1451 chars)

   This charming 2-bedroom, 2-bathroom residence offers an inviting blend of modern updates and cozy living spaces, perfect for a family or anyone seeking a versatile property with ample outdoor amenities. Step inside to discover a beautifully remodeled kitchen featuring modern cabinetry, granite counters, a timeless backsplash, and new fixtures. The open layout seamlessly connects the kitchen to the main living room, where stylish white barn doors create a striking contrast with the light wood-look LVP flooring that flows throughout the bedrooms, main living area, and kitchen. A bonus living space offers flexibility for a home office, playroom, or additional guest area. Outdoor living is a real highlight of this property with a spacious 350 sq ft screened-in back porch, ideal for relaxing or entertaining, and a 132 sq ft covered patio for enjoying the fresh air in any weather. The expansive .34-acre lot provides ample room for gardening, recreation, or future expansion. For the hobbyist or professional, the 28' x 24' outdoor workshop is a standout feature. Equipped with running water and electricity, it offers endless possibilities for projects, storage, or even a small business operation. This property is not just a home; it’s a lifestyle. With its modern updates, versatile spaces, and extensive outdoor amenities, it’s ready to meet all your needs. Don’t miss the chance to make this wonderful property your own!

5. 2024-06-26
   listed $245,000 Active 1451-char remark

   Show marketing remark (1451 chars)

   This charming 2-bedroom, 2-bathroom residence offers an inviting blend of modern updates and cozy living spaces, perfect for a family or anyone seeking a versatile property with ample outdoor amenities. Step inside to discover a beautifully remodeled kitchen featuring modern cabinetry, granite counters, a timeless backsplash, and new fixtures. The open layout seamlessly connects the kitchen to the main living room, where stylish white barn doors create a striking contrast with the light wood-look LVP flooring that flows throughout the bedrooms, main living area, and kitchen. A bonus living space offers flexibility for a home office, playroom, or additional guest area. Outdoor living is a real highlight of this property with a spacious 350 sq ft screened-in back porch, ideal for relaxing or entertaining, and a 132 sq ft covered patio for enjoying the fresh air in any weather. The expansive .34-acre lot provides ample room for gardening, recreation, or future expansion. For the hobbyist or professional, the 28' x 24' outdoor workshop is a standout feature. Equipped with running water and electricity, it offers endless possibilities for projects, storage, or even a small business operation. This property is not just a home; it’s a lifestyle. With its modern updates, versatile spaces, and extensive outdoor amenities, it’s ready to meet all your needs. Don’t miss the chance to make this wonderful property your own!

6. 2024-06-26
   listed $245,000 Active

   Show marketing remark (1451 chars)

   This charming 2-bedroom, 2-bathroom residence offers an inviting blend of modern updates and cozy living spaces, perfect for a family or anyone seeking a versatile property with ample outdoor amenities. Step inside to discover a beautifully remodeled kitchen featuring modern cabinetry, granite counters, a timeless backsplash, and new fixtures. The open layout seamlessly connects the kitchen to the main living room, where stylish white barn doors create a striking contrast with the light wood-look LVP flooring that flows throughout the bedrooms, main living area, and kitchen. A bonus living space offers flexibility for a home office, playroom, or additional guest area. Outdoor living is a real highlight of this property with a spacious 350 sq ft screened-in back porch, ideal for relaxing or entertaining, and a 132 sq ft covered patio for enjoying the fresh air in any weather. The expansive .34-acre lot provides ample room for gardening, recreation, or future expansion. For the hobbyist or professional, the 28' x 24' outdoor workshop is a standout feature. Equipped with running water and electricity, it offers endless possibilities for projects, storage, or even a small business operation. This property is not just a home; it’s a lifestyle. With its modern updates, versatile spaces, and extensive outdoor amenities, it’s ready to meet all your needs. Don’t miss the chance to make this wonderful property your own!

7. 2017-09-20
   soldstatus $107,100
8. 2013-11-08
   soldstatus $85,000 267-char remark

   Show marketing remark (267 chars)

   Solid 3/2 home in the heart of Pace! beautiful deck feature off the back entry make for a perfect spot to enjoy a morning coffee or afternoon refreshment. Extremely nice workshop in the back yard tailored for the handy man or business owner. This home wont last long!

9. 2013-11-08
   soldstatus $85,000

   Show marketing remark (267 chars)

   Solid 3/2 home in the heart of Pace! beautiful deck feature off the back entry make for a perfect spot to enjoy a morning coffee or afternoon refreshment. Extremely nice workshop in the back yard tailored for the handy man or business owner. This home wont last long!

10. 2013-07-22
    listed $89,900 267-char remark

    Show marketing remark (267 chars)

    Solid 3/2 home in the heart of Pace! beautiful deck feature off the back entry make for a perfect spot to enjoy a morning coffee or afternoon refreshment. Extremely nice workshop in the back yard tailored for the handy man or business owner. This home wont last long!

ⓘ 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: $2,045 · $170/mo
• Projected year-2 tax: $2,045 · $170/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $21,249
• − Mortgage interest: −$13,724
• − Property taxes: −$2,045
• − Insurance: −$2,022
• − Repairs & maintenance: −$1,700
• − Management: −$1,700
• − Depreciation: −$7,127
• Taxable loss: −$7,069
• Est. tax savings @ 24.0%: +$1,697
• After-tax cash flow: $-1,002/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: Santa Rosa
• NCES district ID: 1201650
• Math proficiency: 63% ▼ -6.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $58,161
• Composite: 53.12/100
• National rank: #1511
• State rank: #8 of 73 in FL

Livability — Pace

• Score: 69/100
• State rank: #475
• US rank: #8593

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pace, FL
• County: Santa Rosa County · 194,764 people
• City population: 42,171
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 42,171
• Household income: $87,617
• Rent vs Own: 16.1% rent · 83.9% own
• Severe rent burden: 301.0

Population outlook (Santa Rosa County) Hauer SSP2

• Today (2025): 195,978 people
• By 2030: 209,782 · +7.0%
• By 2040: 235,293 · +20.1%
• By 2050: 256,408 · +30.8%
• By 2075: 298,074 · +52.1%
• By 2100: 303,216 · +54.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 9% Hispanic / Latino 6% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 4% Italian 3% Slovak 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Santa Rosa

• 2024 margin: Solid R (+51.0) · D 24.1% · R 75.0%
• 2008→2024 swing: -3.0pp toward R · 2008: -47.9pp · 2024: -51.0pp
• All cycles: 2024: R+51.0 2020: R+46.5 2016: R+53.5 2012: R+52.6 2008: R+47.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.39%
• Current HPI: 290.2953
• Rent YoY: ▲ 2.72%
• 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

+162.5% since first listed

10 events — show timeline

• 2024-08-30 Sold (Public Records) $236,000 Public Records
• 2024-08-30 Sold (MLS) $236,000 PARMLS
• 2024-08-05 Pending — NAMLS
• 2024-08-04 Contingent — PARMLS
• 2024-06-26 Listed $245,000 NAMLS
• 2024-06-26 Listed $245,000 PARMLS
• 2017-09-20 Sold (Public Records) $107,100 Public Records
• 2013-11-08 Sold (Public Records) $85,000 Public Records
• 2013-11-08 Sold (MLS) $85,000 PARMLS
• 2013-07-22 Listed $89,900 PARMLS

Property tax history

+11.7%/yr

Latest (2025): $2,045 · +151.3% YoY. Source: county tax records.