10 Cloverland Ct

West Pensacola, FL 32505

$189,900D

4 bd · 1.0 ba · 1,392 sqft · Built 1954 · SingleFamily · Active · 93 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,734/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$220
• HOA: −$0
• Vac / Maint / Mgmt: −$364
• Net cashflow: $153/mo
• Annual: $1,839/yr
• Cap rate: 7.68%
• Cash-on-cash: 4.96%
• DSCR: 1.22
• 1% rule: 0.91%
• Cash to close: $53,172

Investor read

• This is a 4-bed/1.0-bath single-family listed at $190k.
• At list price, monthly cash flow is $153 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (8.7% below list).
• It's been on market 93 days — a 9% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $173k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• 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, amenities F, commute 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.
• Zoned schools: Oakcrest Elementary School (math 32% / reading 15%, grade F, #2,061 of 2,144 statewide, top 96%, 491 students, 75% FRL); Warrington Middle School (math 19% / reading 24%, grade F, #553 of 571 statewide, top 97%, 573 students, 87% FRL); Escambia High School (math 19% / reading 29%, grade F, #529 of 667 statewide, top 80%, 1,655 students, 62% FRL) — zoned schools average 75% FRL vs 58% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 42% district-wide (-20 pts) — the specific schools serving this property underperform the Escambia average; the district grade overstates school quality for this exact location.
• Watch-outs: flood insurance adds $66/mo; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.9%/yr); 203 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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).
• Escambia County population projected at +13% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• 7 sale attempts since 9y 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 $75k; list at $190k implies a 153% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe 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.
• At $1,734/mo this rent would consume 46% of the median local household income ($45k/yr) (locally 1458% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?