8320 Binkley St · Ferry Pass, FL 32514

$198,500

3 bd · 1.0 ba · 1,006 sqft · Other public records · 25 Days on market

Built 1949 0.53 ac lot

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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 +15.3/30.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +3.6/10.0
• 1% rule +3.5/10.0
• Livability +3.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Remodeled 3 Bedroom home on a beautiful . 53 acre lot. Roof and AC less than 7 years old with new plumbing less than 2 years old. If you choose to use it for investment property instead of your very own Home, the lot is zoned Multi-Family <=9. Screened in porch, off street parking. Blocks away from West FL Hospital and close to shopping and UWF. Mobile home on the lot is occupied with monthly rent of $800, but has no value from appraisal perspective if buyer seeking mortgage, rather than cash purchase. Home was previously rented for $1295 per month for total monthly rental income of $2,095.

Key facts

• Remodeled
• Screened in porch
• Off street parking

Tags

• REMODELED
• SCREENED IN PORCH
• OFF STREET PARKING
• ZONED MULTI-FAMILY

Property features AI

Finance

• Other: Lot size approximately 0.53 acres; Total building area about 1,006 square feet
• HOA & community: No association

Exterior

• Parking: Front entrance access
• Utilities: Circuit breaker electric service; Public sewer; Public water
• Home design: Single-story (one level); Detached property; Off-grade foundation; Frame construction
• Construction: Frame construction; Off-grade foundation; Gable roof; One level
• Exterior features: Gable roof; Public water; Paved, county-maintained road

Interior

• Kitchen: Remodeled kitchen with updated cabinets, countertops, light fixtures, and flooring
• Bedrooms: Primary bedroom on the first floor; Second bedroom on the first floor
• Flooring: Laminate flooring
• Bathrooms: One full bathroom (recently remodeled: tub surround, vanity, flooring, light fixtures)
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Remodeled bathroom; Remodeled kitchen; Breakfast bar
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $198k.

Deal economics

• At list price, monthly cash flow is $73 ($875/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 $169k (14.9% below list).
• Recommended offer: $169k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 4.4% in Ferry Pass — 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 (#664 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, 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: Ferry Pass Elementary School (math 41% / reading 45%, grade F, #1,366 of 2,144 statewide, top 64%, 567 students, 74% FRL); Ferry Pass Middle School (math 34% / reading 33%, grade F, #428 of 571 statewide, top 76%, 1,014 students, 64% FRL); Pine Forest High School (math 20% / reading 32%, grade F, #494 of 667 statewide, top 75%, 1,870 students, 62% FRL).
• Market conditions: Rents flat; 217 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 30% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $6k 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 25 days — a 2% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $130k; list at $198k implies a 53% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — 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 $168,859 (14.9% below list)

Questions for the listing agent

1. Built in 1949 — 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. 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?
5. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.57%
• DSCR: 1.07
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.76% rent growth · sell at horizon

5-year hold

• IRR: -16.2%
• Equity multiple: 0.44×
• Total profit: $-31,289
• Equity at exit: $29,597

10-year hold

• IRR: -12.0%
• Equity multiple: 0.35×
• Total profit: $-36,045
• Equity at exit: $17,163

Cash invested: $55,580 (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 32514

• Home prices YoY: -31.2%
• Rents YoY: 0.8%
• Active inventory: 217
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,689 high
• Mortgage (P&I): −$1,041
• Tax from tax record: −$137 /mo · $1,649/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $73

Break-even live

Break-even rent $1,596

Max offer price $198,500

Occupancy floor 91%

Sensitivity live

Price	-10% $185	-5% $129	+0% $73	+5% $17	+10% $-39
Rent	-10% $-61	-5% $6	+0% $73	+5% $140	+10% $206
Rate	-1.0pp $173	-0.5pp $123	base $73	+0.5pp $21	+1.0pp $-31

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: $49,625
• Closing costs: $5,955
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8707 N Davis Hwy Pensacola, FL	1.0–3.0	1.0–2.0	1017	$2,475	$2.43	15d	38	0.48mi
8917 N Davis Hwy Pensacola, FL	1.0–2.0	1.0–2.0	971	$1,600	$1.65	25d	1	0.76mi
8990 N Davis Hwy Pensacola, FL	1.0–3.0	1.0–2.0	1019	$1,775	$1.74	15d	20	0.77mi
2345 Langston St Pensacola, FL	2.0	1.0	806	$1,250	$1.55	23d	1	0.81mi
1613 Governors Dr Pensacola, FL	2.0	2.0	1275	$1,600	$1.25	25d	1	0.83mi
3205 E Olive Rd Pensacola, FL	1.0–2.0	1.0–2.0	900	$1,540	$1.71	15d	8	0.85mi
7650 Kipling St Unit 3 Pensacola, FL	2.0	2.0	800	$1,000	$1.25	25d	1	0.85mi
7650 Kipling St Unit 1 Pensacola, FL	3.0	2.0	1200	$1,300	$1.08	25d	1	0.85mi
1600 Governors Dr Pensacola, FL	1.0–3.0	1.0–2.0	1010	$1,991	$1.97	15d	25	0.87mi
9004 Governors Place Ct Pensacola, FL	2.0	2.5	1250	$1,450	$1.16	15d	1	0.89mi
1500 E Johnson Ave #128 Pensacola, FL	2.0	2.0	1078	$1,275	$1.18	25d	1	0.90mi
7840 Lilac Ln Pensacola, FL	1.0–3.0	1.0–2.0	1025	$1,904	$1.86	15d	16	0.92mi
8390 Country Walk Dr Unit B Pensacola, FL	2.0	2.0	994	$1,250	$1.26	25d	1	0.96mi
9165 Loomis St Pensacola, FL	3.0	2.0	1056	$1,400	$1.33	25d	1	0.99mi
1857 Atwood Dr Pensacola, FL	1.0–2.0	1.0–1.5	892	$1,399	$1.57	25d	1	0.99mi
7322 Mangum Dr Unit 7322 Pensacola, FL	2.0	2.0	1100	$1,450	$1.32	25d	1	1.01mi
2220 Gloria Cir Pensacola, FL	2.0–3.0	2.0	1123	$1,825	$1.63	15d	1	1.01mi
9307 Mabel St Pensacola, FL	3.0	1.0	915	$1,300	$1.42	25d	1	1.09mi
9184 Arand Dr Pensacola, FL	3.0	2.0	1348	$1,575	$1.17	23d	1	1.19mi
9100 Baldridge Rd Pensacola, FL	1.0–3.0	1.0–2.0	1086	$1,966	$1.81	15d	13	1.19mi
7101 Joy St Unit I5 Pensacola, FL	3.0	2.0	1183	$1,950	$1.65	25d	1	1.19mi
1040 E Olive Rd Pensacola, FL	1.0–3.0	1.0–2.0	897	$1,644	$1.83	25d	7	1.38mi
8108 Ridgefield Rd Pensacola, FL	3.0	2.0	1485	$2,000	$1.35	15d	1	1.39mi
6016 Sewell St Pensacola, FL	3.0	1.5	1377	$1,650	$1.20	25d	1	1.42mi
7150 Plantation Rd #122 Pensacola, FL	2.0	2.0	1092	$1,500	$1.37	25d	1	1.46mi

Listing history 24 events

1. 2026-06-21
   days on market $198,500 Active 25 DOM
2. 2026-06-18
   days on market $198,500 Active 22 DOM
3. 2026-06-17
   days on market $198,500 Active 21 DOM
4. 2026-06-16
   days on market $198,500 Active 20 DOM
5. 2026-06-15
   days on market $198,500 Active 19 DOM
6. 2026-06-14
   days on market $198,500 Active 17 DOM
7. 2026-06-10
   days on market $198,500 Active 14 DOM
8. 2026-06-09
   days on market $198,500 Active 13 DOM
9. 2026-06-08
   days on market $198,500 Active 12 DOM
10. 2026-06-07
    days on market $198,500 Active 11 DOM
11. 2026-06-03
    days on market $198,500 Active 7 DOM
12. 2026-06-02
    days on market $198,500 Active 6 DOM
13. 2026-06-01
    days on market $198,500 Active 5 DOM
14. 2026-05-31
    days on market $198,500 Active 4 DOM
15. 2026-05-31
    days on market $198,500 Active 3 DOM
16. 2026-05-27
    listed $198,500 Active
17. 2026-05-11
    soldstatus $129,900
18. 2025-06-27
    historical $1,295
19. 2025-06-23
    historical
20. 2025-06-19
    listed $1,295
21. 2025-06-13
    price $194,500
22. 2025-04-17
    status Active
23. 2025-03-15
    historical
24. 2024-07-24
    listed $199,500 Active

ⓘ 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: $1,649 · $137/mo
• Projected year-2 tax: $1,649 · $137/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $20,263
• − Mortgage interest: −$11,119
• − Property taxes: −$1,649
• − Insurance: −$992
• − Repairs & maintenance: −$1,621
• − Management: −$1,621
• − Depreciation: −$5,775
• Taxable loss: −$2,514
• Est. tax savings @ 24.0%: +$603
• After-tax cash flow: $1,478/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 — Ferry Pass

• Score: 65/100
• State rank: #664
• US rank: #13543

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ferry Pass, FL
• County: Escambia County · 301,722 people
• City population: 43,072
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 42,447
• Household income: $66,644
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1962.0

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 0.55)
• Race & ethnicity: White 63% Black 22% Two or more races 9% Hispanic / Latino 7% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Italian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 91% English-only · Spanish 5% Other Indo-European 1% Tagalog/Filipino 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: ▼ -120.99%
• Current HPI: 266.7408
• Rent YoY: ▲ 0.76%
• 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

-0.5% since first listed

9 events — show timeline

• 2026-05-27 Listed $198,500 PARMLS
• 2026-05-11 Sold (Public Records) $129,900 Public Records
• 2025-06-27 Rental Removed $1,295 PARMLS
• 2025-06-23 Listing Removed — PARMLS
• 2025-06-19 Listed for Rent $1,295 PARMLS
• 2025-06-13 Price Changed $194,500 PARMLS
• 2025-04-17 Relisted — PARMLS
• 2025-03-15 Listing Removed — PARMLS
• 2024-07-24 Listed $199,500 PARMLS

Property tax history

+23.3%/yr

Latest (2025): $1,649 · +29.8% YoY. Source: county tax records.