513 N Reus St · Pensacola, FL 32501

$149,900

2 bd · 1.0 ba · 756 sqft · SingleFamily public records · 177 Days on market

Built 1926 3,750 sqft lot $198/sqft · 29% below area Est $212k · 29% under ↓ 11% since listing

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Why this score? — see what drove the C 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 +19.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.0/10.0
• Livability +4.2/5.0
• Rent growth +3.9/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming fixer-upper located in the heart of Downtown Pensacola. This 2-bedroom, 1-bath cottage offers tremendous potential for the right buyer. A private driveway—rare for downtown—adds convenience, along with a spacious backyard ideal for future outdoor living or expansion. The home does require updates and TLC, making it a perfect opportunity for a handy homeowner or an investor seeking a long-term rental or short-term rental property. Vacant and easy to show.

Key facts

• Spacious backyard
• Private driveway
• 3,750 sq ft lot

Tags

• PRIVATE DRIVEWAY
• SPACIOUS BACKYARD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $167 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.6% in 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 83/100 on livability (#53 in FL, #924 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+.
• 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 (+5.4%/yr); 129 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 41% of the median local income ($44k/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 $1k 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.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — 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. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.79%
• DSCR: 1.21
• GRM: 8.3

CMA / ARV

• ARV (median comp): $212,151
• List price: $149,900
• Delta: -29.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
227 N Barcelona St	0.19mi	2/1.0	748 (-1%)	21mo	$330,000	$441	71
520 W La Rua St	0.12mi	2/1.0	800 (+6%)	22mo	$234,000	$293	66
414 N D St	0.42mi	3/1.0 (+1)	780 (+3%)	6mo	$130,000	$167	65
419 W Romana St	0.56mi	2/1.0	720 (-5%)	9mo	$109,300	$152	58
613 N C St	0.36mi	2/1.0	800 (+6%)	21mo	$49,000	$61	56
1106 W La Rua St	0.51mi	3/1.0 (+1)	790 (+4%)	12mo	$216,000	$273	54
911 W Chase St	0.52mi	2/1.0	807 (+7%)	22mo	$169,900	$211	46
321 E Jackson St	0.62mi	2/1.0	656 (-13%)	10mo	$203,000	$309	41
407 N Alcaniz St	0.63mi	1/1.0 (-1)	675 (-11%)	12mo	$217,000	$321	38
420 N D St	0.42mi	1/1.0 (-1)	650 (-14%)	18mo	$294,000	$452	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 · 5.4% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.76×
• Total profit: $-9,888
• Equity at exit: $22,351

10-year hold

• IRR: 6.1%
• Equity multiple: 1.51×
• Total profit: $21,219
• Equity at exit: $12,961

Cash invested: $41,972 (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 32501

• Rents YoY: 5.4%
• Active inventory: 129
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,505 high
• Mortgage (P&I): −$786
• Tax from tax record: −$173 /mo · $2,073/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $167

Break-even live

Break-even rent $1,293

Max offer price $149,900

Occupancy floor 84%

Sensitivity live

Price	-10% $252	-5% $210	+0% $167	+5% $125	+10% $83
Rent	-10% $49	-5% $108	+0% $167	+5% $227	+10% $286
Rate	-1.0pp $243	-0.5pp $206	base $167	+0.5pp $129	+1.0pp $89

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
222 W Belmont St Pensacola, FL	1.0	1.0	600	$1,100	$1.83	24d	1	0.13mi
615 N A St Pensacola, FL	3.0	2.0	1122	$1,900	$1.69	15d	1	0.24mi
220 W Chase St Pensacola, FL	2.0	1.0	648	$1,241	$1.92	24d	1	0.31mi
418 N C St Pensacola, FL	3.0	2.0	1017	$2,775	$2.73	15d	1	0.36mi
811 N D St Pensacola, FL	2.0	2.0	1035	$1,395	$1.35	24d	1	0.47mi
307 E La Rua St Pensacola, FL	2.0	1.0	826	$1,575	$1.91	22d	1	0.58mi
510 N G St Pensacola, FL	2.0	1.0	704	$850	$1.21	24d	1	0.61mi
411 W Intendencia St Pensacola, FL	1.0	1.0	600	$1,050	$1.75	15d	1	0.63mi
224 E Garden St Pensacola, FL	1.0	1.0–2.0	477	$1,438	$3.01	24d	2	0.67mi
224 E Garden St #441 Pensacola, FL	1.0	2.0	625	$1,500	$2.40	15d	1	0.67mi
101 E Romana St Pensacola, FL	3.0	1.0–2.0	987	$2,288	$2.32	15d	20	0.69mi
1011 Doctor M.L.K. Jr Dr Unit B Pensacola, FL	2.0	1.0	877	$1,200	$1.37	24d	1	0.71mi
422 N Davis Hwy Pensacola, FL	2.0	1.5	941	$2,100	$2.23	24d	1	0.72mi
1106 Doctor Martin Luther King Junior Dr Unit A Pensacola, FL	2.0	1.0	762	$1,295	$1.70	15d	1	0.77mi
802 E Belmont St Pensacola, FL	1.0	1.0	560	$1,400	$2.50	24d	1	0.88mi
1116 N 7th Ave Pensacola, FL	1.0	1.0	680	$1,520	$2.24	24d	1	0.93mi
1717 W Cervantes St Pensacola, FL	2.0	2.0	974	$1,169	$1.20	15d	3	0.93mi
1804 W Belmont St Unit A Pensacola, FL	3.0	1.0	925	$995	$1.08	22d	1	0.99mi
1918 W Strong St Unit B Pensacola, FL	2.0	1.0	870	$950	$1.09	15d	1	1.10mi
721 W Jordan St Pensacola, FL	3.0	2.0	1030	$1,895	$1.84	24d	1	1.10mi
2310 N Baylen St Pensacola, FL	2.0	1.0	660	$1,350	$2.05	24d	1	1.22mi
2101 W Romana St Unit A Pensacola, FL	2.0	1.0	588	$1,250	$2.13	24d	1	1.27mi
2101 W Romana St Unit A Pensacola, FL	2.0	1.0	588	$1,250	$2.13	15d	1	1.27mi
1177 E Lloyd St Pensacola, FL	1.0	1.0	553	$999	$1.81	15d	1	1.28mi
2008 N 8th Ave Pensacola, FL	3.0	2.0	1058	$1,250	$1.18	15d	1	1.34mi
2303 W Brainerd St Pensacola, FL	2.0	1.0	955	$1,100	$1.15	24d	1	1.37mi
406 N S St Pensacola, FL	2.0	1.0	806	$1,295	$1.61	24d	1	1.42mi

Listing history 21 events

1. 2026-06-21
   days on market $149,900 Active 177 DOM
2. 2026-06-18
   days on market $149,900 Active 174 DOM
3. 2026-06-17
   days on market $149,900 Active 173 DOM
4. 2026-06-16
   days on market $149,900 Active 172 DOM
5. 2026-06-15
   days on market $149,900 Active 171 DOM
6. 2026-06-14
   days on market $149,900 Active 169 DOM
7. 2026-06-10
   days on market $149,900 Active 166 DOM
8. 2026-06-09
   days on market $149,900 Active 165 DOM
9. 2026-06-08
   days on market $149,900 Active 164 DOM
10. 2026-06-07
    days on market $149,900 Active 163 DOM
11. 2026-06-03
    days on market $149,900 Active 159 DOM
12. 2026-06-02
    days on market $149,900 Active 158 DOM
13. 2026-06-01
    days on market $149,900 Active 157 DOM
14. 2026-05-31
    days on market $149,900 Active 156 DOM
15. 2026-05-31
    days on market $149,900 Active 155 DOM
16. 2026-04-20
    price $169,800 495-char remark

    Show marketing remark (495 chars)

    Welcome to this charming fixer-upper located in the heart of Downtown Pensacola. This 2-bedroom, 1-bath cottage offers tremendous potential for the right buyer. A private driveway—rare for downtown—adds convenience, along with a spacious backyard ideal for future outdoor living or expansion. The home does require updates and TLC, making it a perfect opportunity for a handy homeowner or an investor seeking a long-term rental or short-term rental property. Vacant and easy to show.

17. 2026-04-07
    price $169,900 495-char remark

    Show marketing remark (495 chars)

    Welcome to this charming fixer-upper located in the heart of Downtown Pensacola. This 2-bedroom, 1-bath cottage offers tremendous potential for the right buyer. A private driveway—rare for downtown—adds convenience, along with a spacious backyard ideal for future outdoor living or expansion. The home does require updates and TLC, making it a perfect opportunity for a handy homeowner or an investor seeking a long-term rental or short-term rental property. Vacant and easy to show.

18. 2026-02-16
    price $179,900 495-char remark

    Show marketing remark (495 chars)

    Welcome to this charming fixer-upper located in the heart of Downtown Pensacola. This 2-bedroom, 1-bath cottage offers tremendous potential for the right buyer. A private driveway—rare for downtown—adds convenience, along with a spacious backyard ideal for future outdoor living or expansion. The home does require updates and TLC, making it a perfect opportunity for a handy homeowner or an investor seeking a long-term rental or short-term rental property. Vacant and easy to show.

19. 2026-02-06
    price $189,700 495-char remark

    Show marketing remark (495 chars)

    Welcome to this charming fixer-upper located in the heart of Downtown Pensacola. This 2-bedroom, 1-bath cottage offers tremendous potential for the right buyer. A private driveway—rare for downtown—adds convenience, along with a spacious backyard ideal for future outdoor living or expansion. The home does require updates and TLC, making it a perfect opportunity for a handy homeowner or an investor seeking a long-term rental or short-term rental property. Vacant and easy to show.

20. 2026-01-23
    price $189,800 495-char remark

    Show marketing remark (495 chars)

    Welcome to this charming fixer-upper located in the heart of Downtown Pensacola. This 2-bedroom, 1-bath cottage offers tremendous potential for the right buyer. A private driveway—rare for downtown—adds convenience, along with a spacious backyard ideal for future outdoor living or expansion. The home does require updates and TLC, making it a perfect opportunity for a handy homeowner or an investor seeking a long-term rental or short-term rental property. Vacant and easy to show.

21. 2025-12-26
    listed $189,900 Active 495-char remark

    Show marketing remark (495 chars)

    Welcome to this charming fixer-upper located in the heart of Downtown Pensacola. This 2-bedroom, 1-bath cottage offers tremendous potential for the right buyer. A private driveway—rare for downtown—adds convenience, along with a spacious backyard ideal for future outdoor living or expansion. The home does require updates and TLC, making it a perfect opportunity for a handy homeowner or an investor seeking a long-term rental or short-term rental property. Vacant and easy to show.

ⓘ 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: $2,073 · $173/mo
• Projected year-2 tax: $2,073 · $173/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 · 23 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: $18,058
• − Mortgage interest: −$8,397
• − Property taxes: −$2,073
• − Insurance: −$750
• − Repairs & maintenance: −$1,445
• − Management: −$1,445
• − Depreciation: −$4,361
• Taxable loss: −$412
• Est. tax savings @ 24.0%: +$99
• After-tax cash flow: $2,109/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 — Pensacola

• Score: 83/100
• State rank: #53
• US rank: #924

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pensacola, FL
• County: Escambia County · 301,722 people
• City population: 237,636
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 11,036
• Household income: $44,139
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 816.0

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 0.62)
• Race & ethnicity: Black 45% White 42% Two or more races 8% Hispanic / Latino 5%
• Common ancestry: Subsaharan African 2% Italian 2% Slovak 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -210.53%
• Current HPI: 273.0151
• Rent YoY: ▲ 5.40%
• 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

-10.6% since first listed

6 events — show timeline

• 2026-04-20 Price Changed $169,800 PARMLS
• 2026-04-07 Price Changed $169,900 PARMLS
• 2026-02-16 Price Changed $179,900 PARMLS
• 2026-02-06 Price Changed $189,700 PARMLS
• 2026-01-23 Price Changed $189,800 PARMLS
• 2025-12-26 Listed $189,900 PARMLS

Property tax history

+13.0%/yr

Latest (2025): $2,073 · +11.9% YoY. Source: county tax records.