3426 1/2 Luke St · West Pensacola, FL 32505

$109,900

3 bd · 1.0 ba · 1,056 sqft · SingleFamily · 216 Days on market

Built 1995 Average condition 7,405 sqft lot $104/sqft · 38% below area Est $176k · 38% under ↓ 25% since listing

---

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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Livability +3.3/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Looking for your next place to call home? Look no further! This 3-bedroom, 1 bath home is just waiting for you to add your own personal touches to! This property is one that you must really see to believe. Call to schedule your showing today before this property slips away! *Buyer to verify all tax, room dimensions and school information*

Key facts

• 7,405 sq ft lot
• Built 1995
• Listed 216 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $428 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 7.7% in West 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 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 fast (+4.9%/yr); 198 active listings in the ZIP; 8 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).
• This rent runs 40% of the median local income ($45k/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 $760 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 + 4.9% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 216 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 216 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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.37% ✓
• Cap rate: 10.97%
• Cash-on-cash: 16.70%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (median comp): $175,969
• List price: $109,900
• Delta: -37.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
219 Opal Ave	0.57mi	3/1.0	1,012 (-4%)	8mo	$117,500	$116	60
202 Emerald Ave	0.59mi	3/1.5	1,012 (-4%)	6mo	$137,500	$136	59
27 Cloverland Ct	0.65mi	2/1.0 (-1)	1,056 (0%)	9mo	$114,900	$109	57
1020 E Madison Dr	0.70mi	3/2.0	1,042 (-1%)	6mo	$175,000	$168	56
3412 W Maxwell St	0.26mi	2/2.0 (-1)	975 (-8%)	12mo	$195,000	$200	56
1019 E Madison Dr	0.67mi	3/1.5	1,065 (+1%)	12mo	$176,000	$165	56
78 Hunter Ave	0.45mi	3/2.0	1,188 (+12%)	1mo	$135,000	$114	53
1984 Gary Cir	0.56mi	3/2.0	988 (-6%)	9mo	$105,000	$106	51
2406 W Jordan St	0.74mi	3/1.0	1,126 (+7%)	4mo	$150,000	$133	51
3411 W Maxwell St	0.29mi	3/1.0	912 (-14%)	16mo	$158,000	$173	50
2004 Glenwood Ave	0.61mi	3/1.0	900 (-15%)	8mo	$109,900	$122	40
2706 W Baars St	0.54mi	3/1.5	1,200 (+14%)	17mo	$145,000	$121	36

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 · 4.92% rent growth · sell at horizon

5-year hold

• IRR: 10.0%
• Equity multiple: 1.40×
• Total profit: $12,443
• Equity at exit: $16,386

10-year hold

• IRR: 20.7%
• Equity multiple: 2.91×
• Total profit: $58,671
• Equity at exit: $9,502

Cash invested: $30,772 (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 32505

• Home prices YoY: -26.5%
• Rents YoY: 4.9%
• Active inventory: 198
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,503 high
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $428

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 67%

Sensitivity live

Price	-10% $504	-5% $466	+0% $428	+5% $390	+10% $352
Rent	-10% $309	-5% $369	+0% $428	+5% $488	+10% $547
Rate	-1.0pp $483	-0.5pp $456	base $428	+0.5pp $400	+1.0pp $371

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3417 W Fisher St Unit C Pensacola, FL	3.0	2.0	1106	$1,350	$1.22	24d	1	0.05mi
707 New York Dr Pensacola, FL	2.0	1.0	1266	$1,185	$0.94	24d	1	0.75mi
3206 W Lee St Unit A Pensacola, FL	2.0	1.0	800	$1,550	$1.94	14d	1	0.86mi
1218 N Kirk St Pensacola, FL	2.0	1.0	850	$1,150	$1.35	24d	1	1.02mi
852 Garnet St Pensacola, FL	3.0	1.5	1150	$1,150	$1.00	14d	1	1.22mi
2303 W Brainerd St Pensacola, FL	2.0	1.0	955	$1,100	$1.15	24d	1	1.26mi
221 Edison Dr Pensacola, FL	3.0	1.0	1500	$1,598	$1.07	24d	1	1.36mi
918 Montclair Rd Pensacola, FL	3.0	1.0	1012	$1,500	$1.48	14d	1	1.43mi

Listing history 19 events

1. 2026-06-18
   days on market $109,900 Active 216 DOM
2. 2026-06-17
   days on market $109,900 Active 215 DOM
3. 2026-06-16
   pricedays on market $109,900 Active 214 DOM
4. 2026-06-15
   days on market $119,900 Active 213 DOM
5. 2026-06-14
   days on market $119,900 Active 211 DOM
6. 2026-06-10
   days on market $119,900 Active 208 DOM
7. 2026-06-09
   days on market $119,900 Active 207 DOM
8. 2026-06-08
   days on market $119,900 Active 206 DOM
9. 2026-06-07
   days on market $119,900 Active 205 DOM
10. 2026-06-03
    days on market $119,900 Active 201 DOM
11. 2026-06-02
    days on market $119,900 Active 200 DOM
12. 2026-06-01
    days on market $119,900 Active 199 DOM
13. 2026-05-31
    days on market $119,900 Active 198 DOM
14. 2026-05-31
    days on market $119,900 Active 197 DOM
15. 2026-04-14
    price $119,900 344-char remark

    Show marketing remark (344 chars)

    Looking for your next place to call home? Look no further! This 3-bedroom, 1 bath home is just waiting for you to add your own personal touches to! This property is one that you must really see to believe. Call to schedule your showing today before this property slips away! *Buyer to verify all tax, room dimensions and school information*

16. 2026-03-10
    price $129,900 344-char remark

    Show marketing remark (344 chars)

    Looking for your next place to call home? Look no further! This 3-bedroom, 1 bath home is just waiting for you to add your own personal touches to! This property is one that you must really see to believe. Call to schedule your showing today before this property slips away! *Buyer to verify all tax, room dimensions and school information*

17. 2026-02-11
    price $139,900 344-char remark

    Show marketing remark (344 chars)

    Looking for your next place to call home? Look no further! This 3-bedroom, 1 bath home is just waiting for you to add your own personal touches to! This property is one that you must really see to believe. Call to schedule your showing today before this property slips away! *Buyer to verify all tax, room dimensions and school information*

18. 2026-01-01
    price $149,900 344-char remark

    Show marketing remark (344 chars)

    Looking for your next place to call home? Look no further! This 3-bedroom, 1 bath home is just waiting for you to add your own personal touches to! This property is one that you must really see to believe. Call to schedule your showing today before this property slips away! *Buyer to verify all tax, room dimensions and school information*

19. 2025-11-14
    listed $159,900 Active 344-char remark

    Show marketing remark (344 chars)

    Looking for your next place to call home? Look no further! This 3-bedroom, 1 bath home is just waiting for you to add your own personal touches to! This property is one that you must really see to believe. Call to schedule your showing today before this property slips away! *Buyer to verify all tax, room dimensions and school information*

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 70% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 20 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: $18,040
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,443
• − Management: −$1,443
• − Depreciation: −$3,197
• Taxable income: $3,602
• Est. tax owed @ 24.0%: −$865
• After-tax cash flow: $4,273/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.

Condition & rehab AI · 11 photos

Average 55/100 Moderate rehab

This 3-bedroom, 1-bath home requires moderate renovations to improve its appearance and value. Key areas for improvement include updating the kitchen cabinets and bathroom fixtures, and painting the interior walls.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate bathroom fixtures — dated and in need of updating
• Minor exterior paint — yellow siding could benefit from a fresh coat

Value-add opportunities

• Both paint interior walls — Fresh paint can make a significant difference in the home's appearance
• Both replace kitchen cabinets — Dated cabinets can be a turn-off for potential buyers
• Both replace bathroom fixtures — Outdated fixtures can be a deal-breaker for renters and buyers

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of updating	Moderate	$3,000–15,000
exterior paint · yellow siding could benefit from a fresh coat	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both paint interior walls — Fresh paint can make a significant difference in the home's appearance ↑
• Both replace kitchen cabinets — Dated cabinets can be a turn-off for potential buyers ↑
• Both replace bathroom fixtures — Outdated fixtures can be a deal-breaker for renters and buyers ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 27,877
• Household income: $44,783
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 1458.0

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 0.66)
• Race & ethnicity: Black 48% White 32% Hispanic / Latino 11% Two or more races 9% Asian 2%
• Hispanic origin (detail): Mexican 5% Cuban 2%
• Common ancestry: Slovak 2% Italian 1% Serbian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 9% Other Indo-European 1% Vietnamese 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: ▼ -74.10%
• Current HPI: 205.45
• Rent YoY: ▲ 4.92%
• 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

-25.0% since first listed

5 events — show timeline

• 2026-04-14 Price Changed $119,900 PARMLS
• 2026-03-10 Price Changed $129,900 PARMLS
• 2026-02-11 Price Changed $139,900 PARMLS
• 2026-01-01 Price Changed $149,900 PARMLS
• 2025-11-14 Listed $159,900 PARMLS