4603 Forrestal St · West Pensacola, FL 32506

$239,000

4 bd · 3.0 ba · 1,795 sqft · Townhouse public records · 189 Days on market

Built 1974 4,299 sqft lot Est $180k · 33% over

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Why this score? — see what drove the D 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 +20.1/30.0
• DSCR +6.4/10.0
• 1% rule +4.7/10.0
• Schools +3.6/10.0
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this extraordinary townhome near Pensacola military bases! This updated residence combines contemporary comfort with an unbeatable location. With 4 spacious bedrooms and 2 full bathrooms, it offers ample space for luxurious living. The modern design creates a seamless open-concept layout, perfect for entertainment or family time. The kitchen features sleek countertops, and abundant storage space. The recently replaced roof ensures long-term safety and protection. The neighborhood offers a range of amenities, including shopping centers, restaurants, parks, and public transportation options. Don't miss this remarkable opportunity to own a updated townhome near a military base, ideal for anyone seeking a comfortable and connected lifestyle.

Key facts

• Updated appliances
• Two master suites
• Private backyard

Tags

• TWO MASTER SUITES
• LARGE WALK-IN CLOSET
• UPDATED APPLIANCES
• PRIVATE BACKYARD
• PATIO AREA
• STORAGE BUILDING

Property features AI

Finance

• HOA & community: No homeowners association

Exterior

• Parking: Total of 4 parking spaces; 2-car attached garage with garage door opener; 2 covered parking spaces
• Security: Security system
• Utilities: Public water; Public sewer; Copper wiring with circuit breakers; Cable available
• Home design: Attached property; Two levels
• Construction: Brick construction; Shingle roof; Slab foundation
• Exterior features: Back yard fencing; Yard building (outbuilding); Paved road access; Public maintained road; Has fireplace

Interior

• Kitchen: Updated kitchen with new appliances in the last 3 years; Kitchen island; Solid surface countertops; Built-in microwave; Double oven; Dishwasher; Disposal; Refrigerator; Electric water heater
• Bedrooms: Primary bedroom located on the first floor; Additional bedrooms located on the second floor
• Flooring: Tile; Carpet; Laminate; Simulated wood
• Bathrooms: Two full bathrooms; One half bathroom; Bathrooms updated within the last 1–5 years
• Heating & cooling: Central heating; Fireplace(s); Central air conditioning; Ceiling fans for cooling
• Interior features: Baseboards; Ceiling fans
• Laundry & utility: Washer and dryer included; ENERGY STAR qualified dishwasher, dryer, refrigerator, and washer

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath townhouse listed at $239k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/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 $231k (3.4% below list).
• Recommended offer: $210k (12.0% below list) — sets the bar for market timing.

Location & tenants

• 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, schools F, 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 (+3.9%/yr); 270 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 1,479 units permitted in Escambia County in 2024 (0 in 5+ unit buildings).
• This rent runs 44% of the median local income ($62k/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 $2k of loan paydown is wiped out by about $7k 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 189 days — a 12% lower offer ($210k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 23y ago; this cycle's ask has dropped $39k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $210,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 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 1974 — 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. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.32%
• DSCR: 1.24
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $179,500
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4972 Prieto Dr	0.26mi	3/2.0 (-1)	1,898 (+6%)	13mo	$190,000	$100	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 · 3.85% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-17,867
• Equity at exit: $35,636

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $16,935
• Equity at exit: $20,664

Cash invested: $66,920 (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 32506

• Home prices YoY: -22.5%
• Rents YoY: 3.9%
• Active inventory: 270
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,308 medium
• Mortgage (P&I): −$1,253
• Tax from tax record: −$174 /mo · $2,083/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $297

Break-even live

Break-even rent $1,932

Max offer price $239,000

Occupancy floor 82%

Sensitivity live

Price	-10% $432	-5% $365	+0% $297	+5% $229	+10% $162
Rent	-10% $115	-5% $206	+0% $297	+5% $388	+10% $479
Rate	-1.0pp $417	-0.5pp $358	base $297	+0.5pp $235	+1.0pp $172

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: $59,750
• Closing costs: $7,170
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11 Gunn Cir Pensacola, FL	4.0	2.5	1894	$2,400	$1.27	14d	1	0.25mi
5705 Admiral Doyle Rd Pensacola, FL	4.0	3.0	1988	$2,200	$1.11	24d	1	0.77mi
6700 Lake Charlene Dr Pensacola, FL	4.0	2.5	1823	$2,100	$1.15	24d	1	1.39mi

Listing history 8 events

1. 2026-06-18
   days on market $239,000 Active 189 DOM
2. 2026-06-17
   days on market $239,000 Active 188 DOM
3. 2026-06-16
   days on market $239,000 Active 187 DOM
4. 2026-06-15
   days on market $239,000 Active 186 DOM
5. 2026-06-14
   days on market $239,000 Active 184 DOM
6. 2026-06-10
   days on market $239,000 Active 181 DOM
7. 2026-06-09
   remarks 675-char remark
8. 2026-06-09
   listed $239,000 Active 180 DOM

ⓘ 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: $2,083 · $174/mo
• Projected year-2 tax: $2,083 · $174/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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 24 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: $27,698
• − Mortgage interest: −$13,388
• − Property taxes: −$2,083
• − Insurance: −$1,195
• − Repairs & maintenance: −$2,216
• − Management: −$2,216
• − Depreciation: −$6,953
• Taxable loss: −$352
• Est. tax savings @ 24.0%: +$84
• After-tax cash flow: $3,648/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 — West Pensacola

• Score: 66/100
• State rank: #629
• US rank: #12275

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Pensacola, FL
• County: Escambia County · 301,722 people
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 34,549
• Household income: $62,486
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 1359.0

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 0.60)
• Race & ethnicity: White 60% Black 18% Two or more races 11% Hispanic / Latino 6% Asian 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 4% Slovak 2% Italian 2%
• Foreign-born: 9% · Canada, China, Vietnam
• Languages at home: 89% English-only · Spanish 4% Tagalog/Filipino 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: ▼ -71.86%
• Current HPI: 247.6085
• Rent YoY: ▲ 3.85%
• 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

+312.1% since first listed

33 events — show timeline

• 2026-06-09 Relisted — PARMLS
• 2026-05-09 Listing Removed — PARMLS
• 2026-04-08 Price Changed $239,000 PARMLS
• 2026-03-29 Price Changed $244,900 PARMLS
• 2026-02-05 Price Changed $249,900 PARMLS
• 2026-01-11 Price Changed $260,000 PARMLS
• 2025-12-08 Price Changed $265,000 PARMLS
• 2025-11-08 Listed $278,000 PARMLS
• 2023-09-06 Sold (Public Records) $220,000 Public Records
• 2023-09-01 Sold (MLS) $220,000 PARMLS
• 2023-07-19 Contingent — PARMLS
• 2023-06-15 Listed $222,000 PARMLS
• 2022-08-03 Sold (Public Records) $199,000 Public Records
• 2022-07-26 Pending — PARMLS
• 2022-07-25 Sold (MLS) $199,000 PARMLS
• 2022-06-23 Contingent — PARMLS
• 2022-06-21 Relisted — PARMLS
• 2022-06-17 Contingent — PARMLS
• 2022-06-14 Price Changed $199,900 PARMLS
• 2022-05-24 Relisted — PARMLS
• 2022-05-24 Price Changed $239,000 PARMLS
• 2022-04-21 Contingent — PARMLS
• 2022-04-16 Listed $229,000 PARMLS
• 2012-09-19 Sold (Public Records) $39,200 Public Records
• 2012-08-31 Sold (MLS) $39,200 PARMLS
• 2011-03-14 Listed $39,000 PARMLS
• 2005-03-04 Sold (Public Records) $125,900 Public Records
• 2005-02-14 Sold (MLS) $125,900 PARMLS
• 2004-12-20 Listed $129,900 PARMLS
• 2003-10-29 Sold (Public Records) $88,500 Public Records
• 2003-10-27 Sold (MLS) $88,500 PARMLS
• 2003-07-15 Listed $89,900 PARMLS
• 1982-12-01 Sold (Public Records) $58,000 Public Records

Property tax history

+6.0%/yr

Latest (2025): $2,083 · +8.5% YoY. Source: county tax records.