3602 N 9th Ave · Pensacola, FL 32503

$179,900

3 bd · 1.0 ba · 1,321 sqft · SingleFamily public records · 20 Days on market

Built 1950 9,147 sqft lot Est $254k · 29% under

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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 +26.4/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.6/10.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Motivated seller! Conveniently located near shopping, dining, medical facilities, downtown Pensacola, and just a short drive to Pensacola’s renowned beaches, this property presents a compelling opportunity for owner-occupants, investors, or buyers seeking flexible space and additional utility. This well-maintained 3-bedroom, 2-bath home offers a functional layout with spacious living areas, a generously sized kitchen with stainless steel appliances and gas cooking, updated bath finishes, durable flooring throughout much of the home, and a large bonus/flex room ideal for entertaining, recreation, a home office, or additional living use. The property also includes detached accessory/sto

Key facts

• Gas cooking
• 9,147 sq ft lot
• Parking

Tags

• SHORT DRIVE TO BEACHES
• SPACIOUS LIVING AREAS
• GENEROUSLY SIZED KITCHEN
• STAINLESS STEEL APPLIANCES
• GAS COOKING
• UPDATED BATH FINISHES

Property features AI

Finance

• Other: Lot size approximately 0.21 acres; Building area approximately 1,310 square feet
• HOA & community: No homeowners association

Exterior

• Parking: Carport; Driveway; One covered parking space (one total parking space)
• Utilities: Public sewer; Circuit breaker electrical service
• Home design: Single-story frame home; Slab foundation; Resale property; Not attached to other units; Homestead exempt
• Construction: Frame construction; Built on a slab; One level
• Exterior features: Shingle roof; Paved public road access; Public water

Interior

• Kitchen: Electric water heater
• Flooring: Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating; Central air; Ceiling fans
• Interior features: Tile flooring; Remodeled bathrooms; Kitchen and dining combined; Kitchen not updated

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $473 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% 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 (+3.4%/yr); 240 active listings in the ZIP; 11 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 35% of the median local income ($71k/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 $5k 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 + 3.4% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $135k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $177,201 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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.
4. 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.
5. 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: 1.16% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.27%
• DSCR: 1.50
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $253,632
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3151 Torres Ave	0.15mi	3/1.0	1,234 (-7%)	6mo	$48,000	$39	78
25 Escalona Ave	0.19mi	3/2.0	1,406 (+6%)	6mo	$270,000	$192	72
3003 Torres Ave	0.26mi	3/1.0	1,440 (+9%)	3mo	$123,000	$85	71
1007 E Hayes St	0.29mi	3/2.0	1,247 (-6%)	3mo	$210,000	$168	71
211 E Anderson St	0.52mi	3/2.0	1,286 (-3%)	3mo	$249,000	$194	65
609 E Fisher	0.47mi	3/2.0	1,400 (+6%)	1mo	$295,000	$211	64
2911 N Miller St	0.64mi	3/2.0	1,345 (+2%)	2mo	$240,000	$178	61
175 Mango St	0.70mi	3/1.0	1,300 (-2%)	6mo	$224,500	$173	60
1118 E Fisher St	0.47mi	3/2.0	1,447 (+10%)	3mo	$430,000	$297	55
2911 N Hayne St	0.49mi	4/2.0 (+1)	1,206 (-9%)	2mo	$168,000	$139	52
1300 E Fisher St	0.55mi	2/2.0 (-1)	1,438 (+9%)	2mo	$295,000	$205	49
3090 N 15th Ave	0.59mi	4/2.0 (+1)	1,482 (+12%)	3mo	$300,000	$202	40

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 · 3.39% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.04×
• Total profit: $1,776
• Equity at exit: $26,824

10-year hold

• IRR: 10.9%
• Equity multiple: 1.87×
• Total profit: $43,674
• Equity at exit: $15,554

Cash invested: $50,372 (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 32503

• Rents YoY: 3.4%
• Active inventory: 240
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,083 high
• Mortgage (P&I): −$943
• Tax from tax record: −$154 /mo · $1,847/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $473

Break-even live

Break-even rent $1,484

Max offer price $179,900

Occupancy floor 72%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3131 N 10th Ave Pensacola, FL	3.0	1.5	1085	$1,700	$1.57	23d	1	0.21mi
1121 E Maxwell St Pensacola, FL	3.0	2.5	1716	$3,550	$2.07	23d	1	0.85mi
2115 N 12th Ave Pensacola, FL	2.0	1.5	950	$1,800	$1.89	13d	1	0.86mi
3014 Magnolia Ave Pensacola, FL	3.0	2.0	1650	$2,750	$1.67	23d	1	0.87mi
2008 N 8th Ave Pensacola, FL	3.0	2.0	1058	$1,250	$1.18	13d	1	0.92mi
4400 N 9th Ave Pensacola, FL	3.0	1.5	1713	$2,000	$1.17	23d	1	1.00mi
1414 E Mallory St Pensacola, FL	3.0	2.0	1323	$3,400	$2.57	23d	1	1.22mi
531 Ditmar St Unit B Pensacola, FL	2.0	1.0	1094	$1,450	$1.33	23d	1	1.25mi
407 W Jordan St Unit NA Pensacola, FL	3.0	2.0	1300	$2,200	$1.69	23d	1	1.30mi
721 W Jordan St Pensacola, FL	3.0	2.0	1030	$1,895	$1.84	23d	1	1.37mi
1704 E Lee St Pensacola, FL	3.0	2.0	1226	$2,295	$1.87	23d	1	1.50mi

Listing history 15 events

1. 2026-06-18
   days on market $179,900 Active 20 DOM
2. 2026-06-17
   days on market $179,900 Active 19 DOM
3. 2026-06-16
   days on market $179,900 Active 18 DOM
4. 2026-06-15
   days on market $179,900 Active 17 DOM
5. 2026-06-14
   days on market $179,900 Active 15 DOM
6. 2026-06-10
   days on market $179,900 Active 12 DOM
7. 2026-06-09
   days on market $179,900 Active 11 DOM
8. 2026-06-08
   days on market $179,900 Active 10 DOM
9. 2026-06-07
   days on market $179,900 Active 9 DOM
10. 2026-06-03
    days on market $179,900 Active 5 DOM
11. 2026-06-02
    days on market $179,900 Active 4 DOM
12. 2026-06-01
    days on market $179,900 Active 3 DOM
13. 2026-05-31
    days on market $179,900 Active 2 DOM
14. 2026-05-31
    remarks 693-char remark
15. 2026-05-31
    listed $179,900 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: $1,847 · $154/mo
• Projected year-2 tax: $1,847 · $154/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,991
• − Mortgage interest: −$10,077
• − Property taxes: −$1,847
• − Insurance: −$900
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − Depreciation: −$5,233
• Taxable income: $2,935
• Est. tax owed @ 24.0%: −$704
• After-tax cash flow: $4,971/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): 33,559
• Household income: $71,411
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 948.0

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 (68%)
• Race & ethnicity: White 68% Black 20% Two or more races 6% Hispanic / Latino 5% Asian 2%
• Common ancestry: Lithuanian 3% Italian 2% Romanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 93% English-only · Spanish 3% Arabic 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: ▼ -300.02%
• Current HPI: 294.4873
• Rent YoY: ▲ 3.39%
• 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

+482.2% since first listed

4 events — show timeline

• 2026-05-29 Listed $179,900 PARMLS
• 2025-12-11 Sold (Public Records) $135,000 Public Records
• 1992-02-01 Sold (Public Records) $29,100 Public Records
• 1978-01-01 Sold (Public Records) $30,900 Public Records

Property tax history

+6.9%/yr

Latest (2025): $1,847 · +4.2% YoY. Source: county tax records.