We are selling our equitable interest in 21 N Harris St, Pensacola FL 32507
📝 DESCRIPTION
This 2 bed / 2 bath, 1,553 sq ft home on a corner lot inside the Community Redevelopment Area is just a block off Navy Blvd and minutes from downtown Pensacola. It’s a value-play for savvy investors looking for equity or cash flow.
This corner-lot property in Pensacola’s booming redevelopment area offers unbeatable potential for savvy investors. Don’t miss out – act fast before someone else capitalizes!
✅ Easy Conversion Opportunity: A second living area can be transformed into a third bedroom, pushing this home into the top tier of resale and rental comps.
🏡 Has a detached shed
✈️ 12-minute drive to downtown, 5-minute Drive to Naval Air Station (NAS) main gate
ℹ️ Interior of house recently painted, kitchen recently remodeled.
💥Home is on natural gas and connected to public sewer. Comes with appliances!
🔥 Rent ready as-is with minor attention!
🏗️ Major System Highlights:
- Roof: 2020 architectural shingles, permitted install (#200820557BD) ✅
- HVAC: Central heat (2017) + A/C (2023) – tested functional ✅
- Water Heater: 2016 ✅
- Plumbing: Working, but S-traps and DIY work observed 🚧
- Electrical: 200A + 125A panels (2017), some exposed/loose interior wiring ❗
- Foundation: some sagging (can be addressed via crawl space)
- Windows: Functional but clouded panes and some missing screens
🔧 Interior was recently repainted
🏗️Inspection report, 4-point, and wind mitigation available
-🏘️Ability to finish laundry room and add sq footage
Inspection report, wind mit and 4-pt all available
💵 ASKING PRICE $110,000 <46% ARV
🏷️ ARV range $240,000-$260,000
With a third bedroom conversion, 21 N Harris aligns with recent nearby 3/2 comps:
🏡 33 Patton Dr – 3 bed / 2 bath, 1,466 sq ft – SOLD for $263,000 in Sep 2024 $179.42 $$/sqft
🔗 https://www.redfin.com/FL/Pensacola/33-Patton-Dr-32507/home/134114974
🏡 28 Brigadier St – 3 bed / 2 bath, 1,282 sq ft – SOLD for $240,000 on Jan 27, 2025 $187.17 $$/sqft
🔗 https://www.redfin.com/FL/Pensacola/28-Brigadier-St-32507/home/135662359
🏡 111 S Jamaica St – 3 bed / 2 bath, 1,432 sq ft – SOLD for $247,000 on Feb 13, 2024 $172.51 $$/sqft
🔗 https://www.redfin.com/FL/Pensacola/111-S-Jamaica-St-32507/home/134715807
🏡 12 N Runyan St – 3 bed / 2 bath, 928 sq ft – Currently rented for $1,900/month $2.05 $$/sqft
🔗 https://www.zillow.com/homedetails/12-N-Runyan-St-Pensacola-FL-32507/447467079_zpid
📐 Larger-than-average layout, 6,000+ sq ft MDR-zoned lot, and valuable rehab upside support this higher resale value.
📊 RENTAL POTENTIAL
🛠️ Light-to-moderate rehab could also make this a cash-flowing rental.
According to Rentometer:
- Average: $1,516/mo
- Median: $1,350/mo
- Top 25%: Up to $1,818/mo
➡️ With a 3-bed layout, this home should comfortably rent in the $1,550–$1,700/month range.
💸 That’s strong gross yield potential in a growing Pensacola corridor.
🔍 PROPERTY VALUATION
Comparable Sales:
- 3/2s nearby between 1,350–1,500 sq ft have sold for $240K–$265K
- This home has more interior space and sits on a high-utility lot
- Needs repairs but offers big resale/rent margins
📸 PHOTOS
🏁 Flip it. Rent it. Add a bedroom.
Either way, this one’s got margin baked in.
📲 DM, email, or text to lock it up before someone else does.