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

$233,900

3 bd · 2.5 ba · 1,543 sqft · Townhouse · 96 Days on market

Built 2026 Excellent condition 2,613 sqft lot $152/sqft · 7% below area Est $253k · 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 +10.9/15.0
• Cash flow +8.1/30.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• Schools +3.6/10.0
• Rent growth +3.4/5.0
• 1% rule +2.9/10.0
• DSCR +2.1/10.0
• 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 townhouse listed at $234k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-234 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (14.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (20.7% below list).
• Recommended offer: $186k (20.7% 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, schools 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 (+3.6%/yr); 113 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 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 96 days — a 9% lower offer ($213k) is reasonable based on typical stale-listing flexibility.

Recommended offer $185,559 (20.7% 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 96 days. Have you received any prior offers? Is the seller open to a 21% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.79% ✗
• Cap rate: 5.09%
• Cash-on-cash: -4.28%
• DSCR: 0.81
• GRM: 10.5

CMA / ARV

• ARV (median comp): $252,747
• List price: $233,900
• Delta: -7.46%
• 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
1940 Highland Ridge Ct Unit 8B	0.18mi	3/2.5	1,543 (0%)	2mo	$233,900	$152	90
1960 Highland Ridge Ct Unit 3B	0.18mi	3/2.5	1,543 (0%)	2mo	$233,900	$152	90
1964 Highland Ridge Ct Unit 2B	0.18mi	3/2.5	1,543 (0%)	2mo	$233,900	$152	90
1968 Highland Ridge Ct Unit 1B	0.18mi	3/2.5	1,543 (0%)	3mo	$227,400	$147	89
8332 Highland Ridge Dr Unit 4A	0.17mi	3/2.5	1,543 (0%)	5mo	$225,900	$146	88
8344 Highland Ridge Dr Unit 7A	0.18mi	3/2.5	1,543 (0%)	5mo	$225,900	$146	88
8336 Highland Ridge Dr Unit 5A	0.18mi	3/2.5	1,543 (0%)	5mo	$225,900	$146	88
1587 Iroquois Ct	0.38mi	3/2.5	1,537 (-0%)	2mo	$225,900	$147	80
1455 Iroquois Ct	0.38mi	3/2.5	1,553 (+1%)	4mo	$242,500	$156	78
8905 Brigade Trl #8905	0.55mi	3/2.5	1,537 (-0%)	1mo	$222,250	$145	73
8913 Brigade Trl	0.55mi	3/2.5	1,537 (-0%)	3mo	$230,000	$150	71
8324 Highland Ridge Dr Unit 2A	0.56mi	3/2.5	1,543 (0%)	5mo	$245,900	$159	70

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: -22.7%
• Equity multiple: 0.21×
• Total profit: $-51,512
• Equity at exit: $34,875

10-year hold

• IRR: -15.4%
• Equity multiple: 0.10×
• Total profit: $-58,766
• Equity at exit: $20,223

Cash invested: $65,492 (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: 113
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,856 high
• Mortgage (P&I): −$1,227
• Tax est. 1.5%: −$292 /mo · $3,508/yr
• Insurance: −$97
• HOA: −$83
• Vacancy / Maint / Mgmt: −$390
• Net cashflow: $-234

Break-even live

Break-even rent $2,151

Max offer price $200,110

Occupancy floor —

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: $58,475
• Closing costs: $7,017
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8869 Brigade Trl Pensacola, FL	3.0	2.5	1537	$1,725	$1.12	14d	1	0.50mi
1512 Iroquois Ct Pensacola, FL	3.0	2.5	1500	$1,750	$1.17	23d	1	0.50mi
8932 Abbington Dr Pensacola, FL	3.0	2.0	1576	$2,015	$1.28	23d	1	0.51mi
8932 Brigade Trl Pensacola, FL	3.0	2.5	1530	$1,825	$1.19	23d	1	0.55mi
8980 Brigade Trl Pensacola, FL	3.0	2.5	1537	$1,725	$1.12	21d	1	0.64mi
8980 Brigade Trl Pensacola, FL	3.0	2.5	1537	$1,725	$1.12	23d	1	0.64mi
2292 Sparrow Ln Pensacola, FL	3.0	2.0	1275	$1,525	$1.20	23d	1	0.69mi
1524 Farragut Way Pensacola, FL	3.0	2.5	1537	$1,750	$1.14	14d	1	0.71mi
8644 Cove Ave Pensacola, FL	3.0	2.0	1588	$1,850	$1.16	23d	1	0.74mi
1559 W Nine Mile Rd Pensacola, FL	1.0–2.0	1.0–2.0	894	$2,280	$2.55	14d	31	0.75mi
1431 W Nine Mile Rd Pensacola, FL	1.0–3.0	1.0–2.0	1017	$1,780	$1.75	14d	12	0.77mi
8800 Pine Forest Rd Pensacola, FL	1.0–3.0	1.0–2.0	1077	$1,809	$1.68	14d	18	0.82mi
975 Lovebird Ct Pensacola, FL	4.0	2.0	1768	$2,100	$1.19	14d	1	1.05mi
951 Lovebird Ct Pensacola, FL	4.0	2.0	1787	$2,150	$1.20	14d	1	1.07mi
28 Easton St Cantonment, FL	3.0	2.0	1695	$1,850	$1.09	14d	1	1.10mi
8660 Figland Ave Pensacola, FL	3.0	2.0	1106	$1,550	$1.40	14d	1	1.29mi
9980 Bowman Ave Unit N Pensacola, FL	3.0	2.0	1150	$1,595	$1.39	21d	1	1.38mi
9980 Bowman Ave Unit L Pensacola, FL	3.0	2.0	1150	$1,595	$1.39	14d	1	1.38mi

HOA detail

• Monthly dues: $83 · $996/yr
• Likely covers: trash

Listing history 15 events

1. 2026-06-18
   days on market $233,900 Active 96 DOM
2. 2026-06-17
   days on market $233,900 Active 95 DOM
3. 2026-06-16
   days on market $233,900 Active 94 DOM
4. 2026-06-15
   days on market $233,900 Active 93 DOM
5. 2026-06-14
   days on market $233,900 Active 91 DOM
6. 2026-06-10
   days on market $233,900 Active 88 DOM
7. 2026-06-09
   days on market $233,900 Active 87 DOM
8. 2026-06-08
   days on market $233,900 Active 86 DOM
9. 2026-06-07
   days on market $233,900 Active 85 DOM
10. 2026-06-03
    days on market $233,900 Active 81 DOM
11. 2026-06-02
    days on market $233,900 Active 80 DOM
12. 2026-06-01
    days on market $233,900 Active 79 DOM
13. 2026-05-31
    days on market $233,900 Active 78 DOM
14. 2026-05-31
    days on market $233,900 Active 77 DOM
15. 2026-03-14
    listed $233,900 Active 807-char remark

    Show marketing remark (807 chars)

    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.

ⓘ 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: $22,267
• − Mortgage interest: −$13,102
• − Property taxes: −$3,508
• − Insurance: −$1,170
• − Repairs & maintenance: −$1,781
• − Management: −$1,781
• − HOA: −$996
• − Depreciation: −$6,804
• Taxable loss: −$6,876
• Est. tax savings @ 24.0%: +$1,650
• After-tax cash flow: $-1,152/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

Renovation cost estimate screening

Value-add ROI direction

• 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 ↑

ⓘ 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 — 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 · 301,722 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: 540.0

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 0.65)
• 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%

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

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