52
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115 Milton Road
About This Property
The property has recently undergone significant foundation and structural improvements completed with the guidance of an engineer, along with a new subfloor, new LVP flooring, and fresh interior paint. After several months off the market while this work was completed, the home is back with important improvements already addressed.
Inside, the open-concept layout offers comfortable and versatile living space, with a bonus area that can serve as a home office, dining area, hobby space, or flex room. The renovated kitchen features cabinetry and stainless-steel appliances, while the renovated bathroom offers modern, contemporary finishes. A 2021 architectural shingle roof, updated HVAC, and newer water heater add additional peace of mind.
The outdoor space adds even more versatility. Welcoming front and back porches provide inviting places to relax, while the spacious backyard features mature tropical landscaping, partial fencing, and a generous storage shed on an extended concrete slab. The extended slab also creates a private outdoor area with space for chairs, a firepit, entertaining, or a variety of other uses.
For investors, the property's rental appeal is already established. It has been successfully operated as a furnished mid-term rental for several years, offering a proven rental history and an opportunity for a new owner to continue that use. The property also offers short-term rental potential, and could sleep 6-8 comfortably, subject to applicable regulations and requirements. For maximum convenience, the home is available fully furnished and turnkey, allowing a buyer to step into a ready-to-use home or rental setup.
And the location is hard to beat. Just minutes from Historic Downtown Pensacola, Palafox Street, NAS Pensacola, and Pensacola Beach, you'll have easy access to restaurants, markets, entertainment, waterfront activities, military facilities, and some of Pensacola's most popular destinations. And yes, the occasional Blue Angels flyover is a memorable local bonus!
At $214,900, this is an opportunity to own a manageable, centrally located home with meaningful recent improvements, established rental history, and the flexibility to make it your home, your second home, or your next investment.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 4, 2026 | Listed by Keller Williams Realty FWB | $214,900 | |
| Listed by Keller Williams Realty FWB | |||
| May 22, 2025 | Price Decreased |
$228,000
↓ $2K
(0.9%) | |
| Price Decreased | |||
| Apr 24, 2025 | Price Decreased |
$230,000
↓ $5K
(2.1%) | |
| Price Decreased | |||
| Mar 15, 2025 | Listed | $235,000 | |
| Listed | |||
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PRICE IMPROVEMENT | Motivated Seller - Bright and spacious Renovated 2-Bedroom Cottage with Large Yard near Country Club & Beach
Discover this beautifully updated 2-bedroom, 1-bath cottage in the desirable Aero Vista neighborhood—fully renovated, fully furnished, and 100% move-in or rental ready! With a smart, open-concept layout and thoughtfully designed spaces, this home blends timeless charm with modern comfort.
Enjoy luxury vinyl tile flooring, a sleek new kitchen featuring brand-new cabinetry, stainless steel appliances, and an eat-in dining area perfect for casual meals or entertaining. The home also offers a versatile bonus area ideal for a home office, hobby or creative space. Step into comfort with major updates already completed: a 2021 architectural shingle roof, updated HVAC system, newer water heater, and a fully renovated bathroom with stylish finishes.
This property comes fully furnished, with refreshed upholstery and a deep clean throughoutmaking it a true turnkey opportunity for short-term rental income or an effortless move-in experience.
Welcoming front and back porch entries provide charming access, while the backyard offers a peaceful retreat featuring a cozy firepit area, mature tropical landscaping with some fencing for added privacy, and a spacious shed on an extended concrete slabperfect for both storage and workshop space.
Outstanding Location! Just minutes from downtown Pensacola, the beach, and the Navy base. You'll be near vibrant Palafox Street, with its popular markets, restaurants, and entertainment. As a bonus, enjoy occasional flyovers by the legendary Blue Angelsa unique and thrilling neighborhood perk.
Strong rental history with records availableideal for investors or buyers seeking a high-performing, fully furnished property in a prime location.
Don't miss your chanceschedule your private showing today or attend an upcoming open house before it's gone! ***Seller offering additional incentive of $1000 toward offset of buyer closing costs or prepaids at closing.***
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| Apr 8, 2024 | No longer available | - | |
| No longer available | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017