1924 Highland Ridge Ct Unit 11B · Ensley, FL 32534

$227,900

3 bd · 2.5 ba · 1,543 sqft · Condo · 147 Days on market

Built 2026 Excellent condition $148/sqft · 7% below area Est $245k · 7% under $83/mo HOA · 4% of rent

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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).

• ARV discount +10.6/15.0
• Cash flow +8.6/30.0
• Condition / age +4.8/5.0
• Schools +4.2/10.0
• Livability +4.0/5.0
• Rent growth +3.4/5.0
• 1% rule +3.1/10.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Under Construction, Estimated Date Of Completion FALL 2026. Located within 15 mins to Downtown Pensacola! Approximately 30 minutes to popular beaches at Perdido Key & Pensacola Beach as well! These 3 bed/ 2.5 baths 1543 sq ft floorplan has Coretec vinyl plank flooring throughout the entire first floor. The kitchen is open to the living area and contains granite countertops, stainless steel appliances that include smooth surface range, built-in microwave, dishwasher and garbage disposal. This floorplan has a one car garage to complete the first floor. The second floor is split with 2 bedrooms with walk in closets on one end. There is a full bathroom and laundry located off the hallway and at the other end is the large master suite w/ master bathroom. PICTURES MAY NOT BE OF TRUE REPRESENTATION.

Key facts

• Large master suite
• Open to living area
• Walk in closets

Tags

• CORETEC VINYL PLANK FLOORING
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• OPEN TO LIVING AREA
• WALK IN CLOSETS
• LARGE MASTER SUITE

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $228k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-196 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (12.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (18.8% below list).
• Recommended offer: $185k (18.8% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 79/100 on livability (#133 in FL, #1,996 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, employment D.
• 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: Pine Meadow Elementary School (math 59% / reading 65%, grade B, #608 of 2,144 statewide, top 29%, 710 students, 51% FRL); J. M. Tate Senior High School (math 42% / reading 52%, grade D-, #207 of 667 statewide, top 32%, 2,110 students, 44% FRL).
• Zoned-school proficiency averages 54% at this address vs 42% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Escambia average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising (+3.6%/yr); 152 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,479 units permitted in Escambia County in 2024 (0 in 5+ unit buildings).
• This rent runs 38% of the median local income ($59k/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 147 days — a 12% lower offer ($201k) is reasonable based on typical stale-listing flexibility.

Recommended offer $185,059 (18.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 147 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.81% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.69%
• DSCR: 0.84
• GRM: 10.3

CMA / ARV

• ARV (median comp): $244,637
• List price: $227,900
• Delta: -6.84%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1956 Highland Ridge Ct	0.05mi	3/2.5	1,543 (0%)	1mo	$233,900	$152	97
1952 Highland Ridge Ct Unit 5B	0.19mi	3/2.5	1,543 (0%)	0mo	$233,900	$152	91
8928 Brigade Trl	0.56mi	3/2.5	1,537 (-0%)	0mo	$220,000	$143	73
8338 Raleigh Cir	0.37mi	3/2.0	1,465 (-5%)	0mo	$294,900	$201	72
1541 Farragut Way	0.71mi	3/2.5	1,553 (+1%)	0mo	$250,000	$161	65
7800 Homestead Cir	0.77mi	2/2.0 (-1)	1,513 (-2%)	1mo	$209,000	$138	54
7725 Palm Vista Ct Lot 5A	1.10mi	4/2.0 (+1)	1,667 (+8%)	0mo	$284,990	$171	44
7713 Palm Vista Ct Lot 8A	1.06mi	4/2.0 (+1)	1,667 (+8%)	1mo	$285,990	$172	44
7732 Palm Vista Ct Lot 23E	1.05mi	4/2.0 (+1)	1,667 (+8%)	1mo	$289,990	$174	44
7729 Palm Vista Ct Lot 4A	1.05mi	4/2.0 (+1)	1,707 (+11%)	0mo	$290,990	$170	40
1148 W 9 1/2 Mile Rd	1.45mi	3/2.0	1,240 (-20%)	0mo	$250,000	$202	38
7728 Palm Vista Ct Lot 22E	1.07mi	4/2.0 (+1)	1,891 (+23%)	0mo	$314,990	$167	33

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 · 3.63% rent growth · sell at horizon

5-year hold

• IRR: -21.7%
• Equity multiple: 0.25×
• Total profit: $-48,154
• Equity at exit: $33,981

10-year hold

• IRR: -13.9%
• Equity multiple: 0.17×
• Total profit: $-52,779
• Equity at exit: $19,705

Cash invested: $63,812 (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 32534

• Home prices YoY: -19.1%
• Rents YoY: 3.6%
• Active inventory: 152
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,851 high
• Mortgage (P&I): −$1,195
• Tax est. 1.5%: −$285 /mo · $3,418/yr
• Insurance: −$95
• HOA: −$83
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-196

Break-even live

Break-even rent $2,099

Max offer price $199,539

Occupancy floor —

Sensitivity live

Price	-10% $-39	-5% $-117	+0% $-196	+5% $-275	+10% $-353
Rent	-10% $-342	-5% $-269	+0% $-196	+5% $-123	+10% $-50
Rate	-1.0pp $-81	-0.5pp $-138	base $-196	+0.5pp $-255	+1.0pp $-315

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: $56,975
• Closing costs: $6,837
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1542 Iroquois Ct Pensacola, FL	3.0	2.5	1537	$1,750	$1.14	15d	1	0.37mi
8869 Brigade Trl Pensacola, FL	3.0	2.5	1537	$1,725	$1.12	63d	1	0.50mi
1512 Iroquois Ct Pensacola, FL	3.0	2.5	1500	$1,750	$1.17	72d	1	0.50mi
8932 Abbington Dr Pensacola, FL	3.0	2.0	1576	$2,015	$1.28	72d	1	0.51mi
8932 Brigade Trl Pensacola, FL	3.0	2.5	1530	$1,825	$1.19	72d	1	0.55mi
8978 Brigade Trl Pensacola, FL	3.0	2.5	1537	$1,725	$1.12	15d	1	0.63mi
8980 Brigade Trl Pensacola, FL	3.0	2.5	1537	$1,725	$1.12	72d	1	0.64mi
8980 Brigade Trl Pensacola, FL	3.0	2.5	1537	$1,725	$1.12	70d	1	0.64mi
8988 Brigade Trl Pensacola, FL	3.0	2.5	1530	$2,050	$1.34	15d	1	0.66mi
2292 Sparrow Ln Pensacola, FL	3.0	2.0	1275	$1,525	$1.20	72d	1	0.69mi
1524 Farragut Way Pensacola, FL	3.0	2.5	1537	$1,750	$1.14	63d	1	0.71mi
8644 Cove Ave Pensacola, FL	3.0	2.0	1588	$1,850	$1.16	72d	1	0.74mi
1559 W Nine Mile Rd Pensacola, FL	1.0–3.0	1.0–2.0	1094	$2,765	$2.53	15d	28	0.75mi
1431 W Nine Mile Rd Pensacola, FL	1.0–3.0	1.0–2.0	1017	$1,893	$1.86	15d	18	0.77mi
8800 Pine Forest Rd Pensacola, FL	1.0–3.0	1.0–2.0	1077	$1,753	$1.63	15d	18	0.82mi
1106 Fretz St Unit A Pensacola, FL	2.0	1.0	1092	$1,350	$1.24	15d	1	0.95mi
975 Lovebird Ct Pensacola, FL	4.0	2.0	1768	$2,100	$1.19	63d	1	1.05mi
951 Lovebird Ct Pensacola, FL	4.0	2.0	1787	$2,150	$1.20	63d	1	1.07mi
8889 Ransley Station Blvd Pensacola, FL	1.0–3.0	1.0–2.0	1176	$3,160	$2.69	15d	50	1.07mi
28 Easton St Cantonment, FL	3.0	2.0	1695	$1,850	$1.09	63d	1	1.10mi
1540 Wilimar Pl Pensacola, FL	3.0	2.0	1488	$1,550	$1.04	15d	1	1.10mi
1040 Lovebird Ct Pensacola, FL	4.0	2.0	1787	$2,100	$1.18	15d	1	1.12mi
8660 Figland Ave Pensacola, FL	3.0	2.0	1106	$1,550	$1.40	63d	1	1.29mi
9980 Bowman Ave Unit L Pensacola, FL	3.0	2.0	1150	$1,595	$1.39	63d	1	1.38mi
9980 Bowman Ave Unit N Pensacola, FL	3.0	2.0	1150	$1,595	$1.39	70d	1	1.38mi
9980 Bowman Ave Unit C Pensacola, FL	3.0	2.0	1150	$1,625	$1.41	15d	1	1.38mi

HOA detail $83/mo · $996/yr condo

• Likely covers: trash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-08-08
   days on market $227,900 Active 147 DOM
2. 2026-08-07
   days on market $227,900 Active 146 DOM
3. 2026-08-06
   days on market $227,900 Active 145 DOM
4. 2026-08-05
   days on market $227,900 Active 144 DOM
5. 2026-08-04
   days on market $227,900 Active 143 DOM
6. 2026-08-03
   days on market $227,900 Active 142 DOM
7. 2026-07-31
   days on market $227,900 Active 139 DOM
8. 2026-07-30
   days on market $227,900 Active 138 DOM
9. 2026-07-29
   days on market $227,900 Active 137 DOM
10. 2026-07-27
    days on market $227,900 Active 135 DOM
11. 2026-07-25
    days on market $227,900 Active 133 DOM
12. 2026-07-23
    days on market $227,900 Active 131 DOM
13. 2026-07-22
    days on market $227,900 Active 130 DOM
14. 2026-07-21
    days on market $227,900 Active 129 DOM
15. 2026-07-18
    days on market $227,900 Active 126 DOM
16. 2026-07-16
    days on market $227,900 Active 124 DOM
17. 2026-07-16
    days on market $227,900 Active 123 DOM
18. 2026-07-14
    days on market $227,900 Active 122 DOM
19. 2026-07-14
    days on market $227,900 Active 121 DOM
20. 2026-07-12
    days on market $227,900 Active 120 DOM
21. 2026-07-11
    days on market $227,900 Active 119 DOM
22. 2026-07-10
    days on market $227,900 Active 118 DOM
23. 2026-07-09
    days on market $227,900 Active 117 DOM
24. 2026-07-08
    days on market $227,900 Active 116 DOM
25. 2026-07-07
    days on market $227,900 Active 115 DOM
26. 2026-07-06
    days on market $227,900 Active 114 DOM
27. 2026-07-05
    days on market $227,900 Active 113 DOM
28. 2026-07-04
    days on market $227,900 Active 112 DOM
29. 2026-07-03
    days on market $227,900 Active 111 DOM
30. 2026-07-02
    days on market $227,900 Active 110 DOM
31. 2026-07-01
    days on market $227,900 Active 109 DOM
32. 2026-06-30
    days on market $227,900 Active 108 DOM
33. 2026-06-29
    days on market $227,900 Active 107 DOM
34. 2026-06-28
    days on market $227,900 Active 106 DOM
35. 2026-06-28
    days on market $227,900 Active 105 DOM
36. 2026-06-27
    pricedays on market $227,900 Active 104 DOM
37. 2026-06-25
    days on market $233,900 Active 102 DOM
38. 2026-06-23
    days on market $233,900 Active 100 DOM
39. 2026-06-21
    days on market $233,900 Active 99 DOM
40. 2026-06-18
    days on market $233,900 Active 96 DOM
41. 2026-06-17
    days on market $233,900 Active 95 DOM
42. 2026-06-16
    days on market $233,900 Active 94 DOM
43. 2026-06-15
    days on market $233,900 Active 93 DOM
44. 2026-06-14
    days on market $233,900 Active 91 DOM
45. 2026-06-10
    days on market $233,900 Active 88 DOM
46. 2026-06-09
    days on market $233,900 Active 87 DOM
47. 2026-06-08
    days on market $233,900 Active 86 DOM
48. 2026-06-07
    days on market $233,900 Active 85 DOM
49. 2026-06-03
    days on market $233,900 Active 81 DOM
50. 2026-06-02
    days on market $233,900 Active 80 DOM

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

Taxation est. · year 1

• Rental income: $22,207
• − Mortgage interest: −$12,766
• − Property taxes: −$3,418
• − Insurance: −$1,140
• − Repairs & maintenance: −$1,777
• − Management: −$1,777
• − HOA: −$996
• − Depreciation: −$6,630
• Taxable loss: −$6,296
• Est. tax savings @ 24.0%: +$1,511
• After-tax cash flow: $-841/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 · 12 photos

Excellent 95/100 None rehab

This move-in-ready condo is in excellent condition with fresh paint, granite countertops, and Coretec flooring. Minor curb appeal improvements could further enhance its resale value.

Value-add opportunities

• Resale Painting exterior siding — Enhances curb appeal ↑
• Resale Landscaping front yard — Improves curb appeal ↑
• Rental Replace ceiling fans with energy-efficient models — Reduces energy costs ↑

F Composite school gradezoned avg 42/100

Zoned Schools

Elementary Lincoln Park Elementary School F FL #1,609/2,144 Nat'l #21,438/41,679 Middle Beulah Middle School D- FL #340/571 Nat'l #5,398/14,009 High J. M. Tate Senior High School D- FL #207/667 Nat'l #6,330/17,239

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

B Composite livability gradescore 79/100

Livability — Ensley

• Score: 79/100
• State rank: #133
• US rank: #1996

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ensley, FL
• County: Escambia County · 334,637 people
• City population: 15,879
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 17,104
• Household income: $58,992
• Rent vs Own: 44.8% rent · 55.2% own
• Severe rent burden: 13% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.65)
• Race & ethnicity: White 51% Black 30% Two or more races 9% Hispanic / Latino 8% Asian 5%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Serbian 3% Italian 2% Portuguese 1%
• Foreign-born: 8% · Canada, Vietnam, Jamaica
• Languages at home: 89% English-only · Spanish 6% Vietnamese 2% Tagalog/Filipino 1%

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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: ▼ -60.23%
• Current HPI: 255.7617
• Rent YoY: ▲ 3.63%
• Metro: Pensacola-Ferry Pass-Brent, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

1 event — show timeline

• 2026-03-14 Listed $233,900 PARMLS