615 Calhoun Ave · Warrington, FL 32507

$55,000

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 1 Days on market

Built 1959 6,795 sqft lot

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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
• Schools +3.6/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

SPECIAL ADDENDUMS NEEDED, BEING SOLD "AS IS" WHERE IS. MANY RENOVATIONS COMPLETED. WILL MAKE A NICE FIRST TIME HOME, OR A GOOD RENTAL.

Key facts

• Substantial repairs
• Shopping
• Renovations

Tags

• SUBSTANTIAL REPAIRS
• RENOVATIONS
• RENTAL OPPORTUNITY
• CONVENIENTLY LOCATED
• NEAR DOWNTOWN PENSACOLA
• SHOPPING

Property features AI

Finance

• Financial info: Units are partially furnished (multi-unit information)

Exterior

• Utilities: Electricity available
• Home design: Single-story property
• Exterior features: Lot dimensions approximately 50 x 140

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Interior features: Short term rental allowed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $798 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 23.7% vs local median 4.3% in Warrington — 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 65/100 on livability (#631 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools 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.
• Market conditions: Rents rising (+1.2%/yr); 702 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,479 units permitted in Escambia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k 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 + 1.2% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 26y 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 $14k; list at $55k implies a 290% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.71% ✓
• Cap rate: 23.69%
• Cash-on-cash: 62.14%
• DSCR: 3.77
• GRM: 3.1

CMA / ARV

• ARV (on-the-fly): $145,920
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1829 Bainbridge Ave	0.33mi	2/1.0	940 (+3%)	4mo	$100,000	$106	76
2105 Grundy St	0.33mi	2/1.0	852 (-7%)	1mo	$210,000	$246	72
2718 Talbert St	0.26mi	3/1.0 (+1)	1,030 (+13%)	23mo	$165,100	$160	42

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 · 1.22% rent growth · sell at horizon

5-year hold

• IRR: 59.0%
• Equity multiple: 3.55×
• Total profit: $39,279
• Equity at exit: $8,201

10-year hold

• IRR: 63.2%
• Equity multiple: 6.80×
• Total profit: $89,306
• Equity at exit: $4,755

Cash invested: $15,400 (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 32507

• Home prices YoY: -4.6%
• Rents YoY: 1.2%
• Active inventory: 702
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,492 high
• Mortgage (P&I): −$288
• Tax from tax record: −$70 /mo · $842/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $798

Break-even live

Break-even rent $483

Max offer price $55,000

Occupancy floor 42%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1007 Winton Ave Unit B Pensacola, FL	2.0	1.0	810	$1,295	$1.60	23d	1	0.53mi
718 Mills Ave Unit A Pensacola, FL	2.0	1.0	728	$1,200	$1.65	23d	1	0.80mi
315 Flannan Rd Pensacola, FL	3.0	1.0	836	$1,745	$2.09	13d	1	1.00mi
7591 W Highway 98 Pensacola, FL	1.0–2.0	1.0–2.0	872	$1,781	$2.04	13d	9	1.15mi
204 Holmes Dr Unit B Pensacola, FL	1.0	1.0	525	$895	$1.70	13d	1	1.15mi
346 Quigley Rd Pensacola, FL	3.0	2.0	1021	$1,500	$1.47	23d	1	1.28mi
1036 Hawthorn Dr Unit B Pensacola, FL	2.0	1.0	650	$800	$1.23	23d	1	1.31mi
585 S 72nd Ave Pensacola, FL	1.0–2.0	1.0	862	$1,300	$1.51	23d	3	1.44mi

Listing history 2 events

1. 2026-06-17
   remarks 556-char remark
2. 2026-06-17
   listed $55,000 Active 1 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: $842 · $70/mo
• Projected year-2 tax: $842 · $70/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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 22 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: $17,909
• − Mortgage interest: −$3,081
• − Property taxes: −$842
• − Insurance: −$275
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$1,600
• Taxable income: $9,246
• Est. tax owed @ 24.0%: −$2,219
• After-tax cash flow: $7,351/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 — Warrington

• Score: 65/100
• State rank: #631
• US rank: #12396

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warrington, FL
• County: Escambia County · 301,722 people
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 32,226
• Household income: $73,540
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1175.0

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: Predominantly White (73%)
• Race & ethnicity: White 73% Black 10% Two or more races 10% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 92% English-only · Spanish 4% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▼ -26.23%
• Current HPI: 548.03
• Rent YoY: ▲ 1.22%
• 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

+101.5% since first listed

7 events — show timeline

• 2026-06-16 Listed $55,000 CPARMLS
• 2001-10-03 Sold (MLS) $14,100 PARMLS
• 2001-04-21 Listed $17,900 PARMLS
• 2001-01-17 Listing Removed — PARMLS
• 2000-02-17 Listed $39,900 PARMLS
• 1998-01-22 Sold (Public Records) $27,300 Public Records
• 1988-09-01 Sold (Public Records) $27,300 Public Records

Property tax history

+7.2%/yr

Latest (2025): $842 · +24.0% YoY. Source: county tax records.