815 N N St · Pensacola, FL 32501

$109,050

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 322 Days on market

Built 2002 7,405 sqft lot $78/sqft · 50% above area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

For Sale: 815 N N Street Asking Price: $121,100 Approx. 1,400 sq ft | Lot Size: 0.1732 acres Prime Location | Zoned C-3 This spacious 3 bed, 2 bath modular home is full of potential for homeowners, business owners, or investors. It offers excellent access, high visibility, and flexible zoning. *Home is currently Occupied* Property Highlights: Built in 2002 Recently remodeled New roof Central heat **Not Vacant**

Key facts

• Central heat
• Recently remodeled
• Zoned c-3

Tags

• PRIME LOCATION
• ZONED C-3
• RECENTLY REMODELED
• NEW ROOF
• CENTRAL HEAT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $109k.

Deal economics

• At list price, monthly cash flow is $784 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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); 127 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• At $1,848/mo this rent would consume 50% of the median local household income ($44k/yr) (locally 816% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 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 + 5.4% rent growth), your $31k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 322 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 7y ago; this cycle's ask has dropped $21k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $109k implies a 68% 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,964 (12.0% below list)

Questions for the listing agent

1. It's been on market 322 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.69% ✓
• Cap rate: 14.92%
• Cash-on-cash: 30.82%
• DSCR: 2.37
• GRM: 4.9

CMA / ARV

• ARV (median comp): $72,537
• List price: $109,050
• Delta: 50.34%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 5.4% rent growth · sell at horizon

5-year hold

• IRR: 28.1%
• Equity multiple: 2.21×
• Total profit: $36,832
• Equity at exit: $16,260

10-year hold

• IRR: 36.9%
• Equity multiple: 4.80×
• Total profit: $116,005
• Equity at exit: $9,429

Cash invested: $30,534 (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: 127
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,848 high
• Mortgage (P&I): −$572
• Tax from tax record: −$58 /mo · $695/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $784

Break-even live

Break-even rent $855

Max offer price $109,050

Occupancy floor 53%

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: $27,262
• Closing costs: $3,272
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1717 W Cervantes St Pensacola, FL	2.0	2.0	974	$1,169	$1.20	14d	3	0.17mi
1804 W Belmont St Unit A Pensacola, FL	3.0	1.0	925	$995	$1.08	21d	1	0.30mi
2303 W Brainerd St Pensacola, FL	2.0	1.0	955	$1,100	$1.15	23d	1	0.33mi
309 N Pace Blvd Unit B Pensacola, FL	3.0	2.0	1342	$1,650	$1.23	23d	1	0.36mi
315 N Pace Blvd Unit A Pensacola, FL	3.0	2.0	1342	$1,850	$1.38	23d	1	0.36mi
315 N Pace Blvd Unit b Pensacola, FL	3.0	2.0	1342	$1,650	$1.23	23d	1	0.36mi
239 N K St Pensacola, FL	3.0	2.0	1392	$1,950	$1.40	23d	1	0.44mi
2802 W Gonzalez St Pensacola, FL	3.0	2.0	1824	$1,600	$0.88	23d	1	0.60mi
814 N E St Pensacola, FL	3.0	2.0	1440	$1,695	$1.18	23d	1	0.61mi
811 N D St Pensacola, FL	2.0	2.0	1035	$1,395	$1.35	23d	1	0.65mi
1010 N D St Pensacola, FL	2.0	2.0	1196	$1,850	$1.55	23d	1	0.69mi
411 N D St Pensacola, FL	4.0	2.0	1511	$2,175	$1.44	23d	1	0.70mi
1215 N C St Pensacola, FL	3.0	1.0	1203	$1,775	$1.48	14d	1	0.77mi
418 N C St Pensacola, FL	3.0	2.0	1017	$2,775	$2.73	14d	1	0.78mi
410 N C St Unit 1367374P Pensacola, FL	3.0	2.0	1291	$3,313	$2.57	14d	1	0.79mi
106 S G St Pensacola, FL	3.0	2.0	1300	$2,200	$1.69	23d	1	0.85mi
615 N A St Pensacola, FL	3.0	2.0	1122	$1,900	$1.69	14d	1	0.85mi
419 N Wentworth St Pensacola, FL	2.0	1.0	1100	$1,195	$1.09	23d	1	0.97mi
2108 W Bobe St Pensacola, FL	4.0	2.0	1752	$2,100	$1.20	23d	1	1.06mi
721 W Jordan St Pensacola, FL	3.0	2.0	1030	$1,895	$1.84	23d	1	1.13mi
218 Junction Ave Pensacola, FL	2.0	2.5	1295	$2,400	$1.85	23d	1	1.16mi
852 Garnet St Pensacola, FL	3.0	1.5	1150	$1,150	$1.00	14d	1	1.20mi
214 W La Rua St Pensacola, FL	2.0	2.5	1600	$2,800	$1.75	14d	1	1.20mi
407 W Jordan St Unit NA Pensacola, FL	3.0	2.0	1300	$2,200	$1.69	23d	1	1.21mi
3740 Frontera Cir Pensacola, FL	3.0	1.0	1024	$1,295	$1.26	23d	1	1.25mi
504 N Spring St Unit B Pensacola, FL	3.0	1.5	1485	$1,995	$1.34	23d	1	1.25mi
220 W Chase St Pensacola, FL	2.0	1.0	648	$1,241	$1.92	23d	1	1.32mi
379 S Clubbs St Unit A Pensacola, FL	2.0	2.0	1190	$2,400	$2.02	23d	1	1.33mi

Listing history 29 events

1. 2026-06-18
   days on market $109,050 Active 322 DOM
2. 2026-06-17
   days on market $109,050 Active 321 DOM
3. 2026-06-16
   days on market $109,050 Active 320 DOM
4. 2026-06-15
   days on market $109,050 Active 319 DOM
5. 2026-06-14
   days on market $109,050 Active 317 DOM
6. 2026-06-10
   days on market $109,050 Active 314 DOM
7. 2026-06-09
   days on market $109,050 Active 313 DOM
8. 2026-06-08
   days on market $109,050 Active 312 DOM
9. 2026-06-07
   days on market $109,050 Active 311 DOM
10. 2026-06-03
    days on market $109,050 Active 307 DOM
11. 2026-06-02
    days on market $109,050 Active 306 DOM
12. 2026-06-01
    days on market $109,050 Active 305 DOM
13. 2026-05-31
    days on market $109,050 Active 304 DOM
14. 2026-05-17
    price $109,050 420-char remark

    Show marketing remark (420 chars)

    For Sale: 815 N N Street Asking Price: $121,100 Approx. 1,400 sq ft | Lot Size: 0.1732 acres Prime Location | Zoned C-3 This spacious 3 bed, 2 bath modular home is full of potential for homeowners, business owners, or investors. It offers excellent access, high visibility, and flexible zoning. *Home is currently Occupied* Property Highlights: Built in 2002 Recently remodeled New roof Central heat **Not Vacant**

15. 2026-04-19
    price $114,600 420-char remark

    Show marketing remark (420 chars)

    For Sale: 815 N N Street Asking Price: $121,100 Approx. 1,400 sq ft | Lot Size: 0.1732 acres Prime Location | Zoned C-3 This spacious 3 bed, 2 bath modular home is full of potential for homeowners, business owners, or investors. It offers excellent access, high visibility, and flexible zoning. *Home is currently Occupied* Property Highlights: Built in 2002 Recently remodeled New roof Central heat **Not Vacant**

16. 2025-12-01
    price $120,600 420-char remark

    Show marketing remark (420 chars)

    For Sale: 815 N N Street Asking Price: $121,100 Approx. 1,400 sq ft | Lot Size: 0.1732 acres Prime Location | Zoned C-3 This spacious 3 bed, 2 bath modular home is full of potential for homeowners, business owners, or investors. It offers excellent access, high visibility, and flexible zoning. *Home is currently Occupied* Property Highlights: Built in 2002 Recently remodeled New roof Central heat **Not Vacant**

17. 2025-09-12
    price $121,100 420-char remark

    Show marketing remark (420 chars)

    For Sale: 815 N N Street Asking Price: $121,100 Approx. 1,400 sq ft | Lot Size: 0.1732 acres Prime Location | Zoned C-3 This spacious 3 bed, 2 bath modular home is full of potential for homeowners, business owners, or investors. It offers excellent access, high visibility, and flexible zoning. *Home is currently Occupied* Property Highlights: Built in 2002 Recently remodeled New roof Central heat **Not Vacant**

18. 2025-07-31
    listed $129,600 Active 420-char remark

    Show marketing remark (420 chars)

    For Sale: 815 N N Street Asking Price: $121,100 Approx. 1,400 sq ft | Lot Size: 0.1732 acres Prime Location | Zoned C-3 This spacious 3 bed, 2 bath modular home is full of potential for homeowners, business owners, or investors. It offers excellent access, high visibility, and flexible zoning. *Home is currently Occupied* Property Highlights: Built in 2002 Recently remodeled New roof Central heat **Not Vacant**

19. 2024-03-07
    soldstatus $65,000
20. 2024-02-23
    soldstatus $65,000 Sold 277-char remark

    Show marketing remark (277 chars)

    Investors and Flippers! This three bedroom, two bathroom, manufactured home is ideal for you. It is currently a residence but located in zoned C-3 which may provide for several other options, Businesses or other considerations. Contact the listing agent for your viewing today.

21. 2024-01-24
    status Pending 277-char remark

    Show marketing remark (277 chars)

    Investors and Flippers! This three bedroom, two bathroom, manufactured home is ideal for you. It is currently a residence but located in zoned C-3 which may provide for several other options, Businesses or other considerations. Contact the listing agent for your viewing today.

22. 2023-12-11
    status Active 277-char remark

    Show marketing remark (277 chars)

    Investors and Flippers! This three bedroom, two bathroom, manufactured home is ideal for you. It is currently a residence but located in zoned C-3 which may provide for several other options, Businesses or other considerations. Contact the listing agent for your viewing today.

23. 2023-11-24
    status Pending 277-char remark

    Show marketing remark (277 chars)

    Investors and Flippers! This three bedroom, two bathroom, manufactured home is ideal for you. It is currently a residence but located in zoned C-3 which may provide for several other options, Businesses or other considerations. Contact the listing agent for your viewing today.

24. 2023-11-22
    status Active 277-char remark

    Show marketing remark (277 chars)

    Investors and Flippers! This three bedroom, two bathroom, manufactured home is ideal for you. It is currently a residence but located in zoned C-3 which may provide for several other options, Businesses or other considerations. Contact the listing agent for your viewing today.

25. 2023-11-22
    historical 277-char remark

    Show marketing remark (277 chars)

    Investors and Flippers! This three bedroom, two bathroom, manufactured home is ideal for you. It is currently a residence but located in zoned C-3 which may provide for several other options, Businesses or other considerations. Contact the listing agent for your viewing today.

26. 2023-11-17
    listed $74,900 Active 277-char remark

    Show marketing remark (277 chars)

    Investors and Flippers! This three bedroom, two bathroom, manufactured home is ideal for you. It is currently a residence but located in zoned C-3 which may provide for several other options, Businesses or other considerations. Contact the listing agent for your viewing today.

27. 2019-07-31
    soldstatus $24,000
28. 2019-06-21
    listed $34,900
29. 1982-09-01
    soldstatus $12,500

ⓘ 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: $695 · $58/mo
• Projected year-2 tax: $905 · $75/mo
• Expected delta: +$211/yr (+$18/mo · 30.3%)

ⓘ 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: $22,170
• − Mortgage interest: −$6,108
• − Property taxes: −$695
• − Insurance: −$545
• − Repairs & maintenance: −$1,774
• − Management: −$1,774
• − Depreciation: −$3,172
• Taxable income: $8,102
• Est. tax owed @ 24.0%: −$1,945
• After-tax cash flow: $7,468/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

+772.4% since first listed

16 events — show timeline

• 2026-05-17 Price Changed $109,050 PARMLS
• 2026-04-19 Price Changed $114,600 PARMLS
• 2025-12-01 Price Changed $120,600 PARMLS
• 2025-09-12 Price Changed $121,100 PARMLS
• 2025-07-31 Listed $129,600 PARMLS
• 2024-03-07 Sold (Public Records) $65,000 Public Records
• 2024-02-23 Sold (MLS) $65,000 PARMLS
• 2024-01-24 Pending — PARMLS
• 2023-12-11 Relisted — PARMLS
• 2023-11-24 Pending — PARMLS
• 2023-11-22 Relisted — PARMLS
• 2023-11-22 Listing Removed — PARMLS
• 2023-11-17 Listed $74,900 PARMLS
• 2019-07-31 Sold (MLS) $24,000 PARMLS
• 2019-06-21 Listed $34,900 PARMLS
• 1982-09-01 Sold (Public Records) $12,500 Public Records

Property tax history

+26.8%/yr

Latest (2025): $695 · -1.0% YoY. Source: county tax records.