2600 W Michigan Ave Unit 480C · Bellview, FL 32526

$45,000

2 bd · 2.0 ba · 896 sqft · Manufactured · 50 Days on market

Built 2018 Good condition $50/sqft · 40% below area Est $75k · 40% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Rent growth +3.6/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in Timberlake Estates, in Pensacola, this beautiful 2-bedroom 2-bathroom home sets a high standard for comfortable living. The heart of this residence is the split floor plan, which boasts two generous bedrooms. The primary bedroom is accompanied by an ensuite bathroom, equipped with a convenient walk-in shower. Both bedrooms further exhibit substantial walk in closet spaces incorporated for versatile storage. The openness of the layout is designed to invite natural light and provide you with an airy space that amplifies tranquility. The property is nestled within a resort-style community, abundant with a variety of top-notch amenities. This includes a fully equipped fitness center,

Key facts

• Fitness center
• Split floor plan
• Walk in closet

Tags

• SPLIT FLOOR PLAN
• ENSUITE BATHROOM
• WALK IN SHOWER
• WALK IN CLOSET
• RESORT STYLE COMMUNITY
• FITNESS CENTER

Property features AI

Finance

• Other: Building area approximately 896 square feet; Located within Timberlake Mobile Home Community (directions available)
• HOA & community: No homeowners association; Community amenities include pool, community room, fitness center, pavilion/gazebo, picnic area, and tennis courts

Exterior

• Parking: Two total parking spaces; Driveway parking; Guest parking; Side entrance access; 2 spaces per unit
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Copper wiring with circuit breakers; Cable available; Underground utilities
• Home design: Mobile/manufactured or modular home; One story; Resale property; Off-grade foundation
• Construction: Metal roof; Insulation and insulated walls
• Exterior features: Deck; Patio; Central access; Interior lot; Paved, county-maintained road

Interior

• Kitchen: Kitchen island; Laminate counters; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: Master bedroom on the first floor (approx. 14.9' x 10.2'); Second bedroom on the first floor (approx. 7.9' x 15')
• Flooring: Vinyl; Simulated wood
• Bathrooms: Two full bathrooms on the first floor
• Heating & cooling: Central heating; Central air; Ceiling fans for cooling assistance
• Interior features: Storage; Baseboards; Ceiling fans; Crown molding; High ceilings; High-speed internet; Storm door(s); Double-pane windows with blinds
• Laundry & utility: Inside laundry with washer/dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $45k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $916 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 30.7% vs local median 5.2% in Bellview — 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 67/100 on livability (#561 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, amenities F, commute 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 fast (+4.4%/yr); 417 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,479 units permitted in Escambia County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k 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 + 4.4% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 3.45% ✓
• Cap rate: 30.73%
• Cash-on-cash: 87.26%
• DSCR: 4.88
• GRM: 2.4

CMA / ARV

• ARV (median comp): $75,000
• List price: $45,000
• Delta: -40.00%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.42% rent growth · sell at horizon

5-year hold

• IRR: 89.4%
• Equity multiple: 5.23×
• Total profit: $53,341
• Equity at exit: $6,710

10-year hold

• IRR: 92.7%
• Equity multiple: 11.41×
• Total profit: $131,197
• Equity at exit: $3,891

Cash invested: $12,600 (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 32526

• Home prices YoY: -28.3%
• Rents YoY: 4.4%
• Active inventory: 417
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,554 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $916

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 36%

Sensitivity live

Price	-10% $947	-5% $932	+0% $916	+5% $901	+10% $885
Rent	-10% $794	-5% $855	+0% $916	+5% $978	+10% $1,039
Rate	-1.0pp $939	-0.5pp $928	base $916	+0.5pp $905	+1.0pp $893

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2300 W Michigan Ave #12 Pensacola, FL	2.0	2.0	1050	$1,300	$1.24	24d	1	0.48mi
2355 W Michigan Ave Pensacola, FL	1.0–2.0	1.0–2.0	850	$1,450	$1.71	14d	9	0.53mi
5602 W Shore Dr Unit B Pensacola, FL	2.0	2.0	920	$1,250	$1.36	24d	1	0.64mi
2303 W Michigan Ave Unit A6 Pensacola, FL	2.0	2.0	1014	$1,300	$1.28	24d	1	0.72mi
6322 Louisville Ave Pensacola, FL	3.0	2.0	1001	$2,147	$2.14	24d	1	0.72mi
5472 Dover Ave Pensacola, FL	3.0	2.0	840	$1,300	$1.55	24d	1	0.78mi
6201 Forest Pines Dr Unit D Pensacola, FL	2.0	1.0	857	$1,275	$1.49	14d	1	0.87mi
925 Twinbrook Ave Pensacola, FL	3.0	1.0	1105	$1,750	$1.58	24d	1	0.88mi
5207 Charbar Dr Unit B Pensacola, FL	2.0	1.0	850	$1,050	$1.24	24d	1	1.19mi
6225 Mobile Hwy Pensacola, FL	1.0–3.0	1.0–2.0	1036	$2,072	$2.00	14d	15	1.20mi
2702 Massachusetts Ave Pensacola, FL	1.0–3.0	1.0–2.5	1150	$1,520	$1.32	14d	9	1.23mi
918 Montclair Rd Pensacola, FL	3.0	1.0	1012	$1,500	$1.48	14d	1	1.28mi
3216 Two Sisters Way Pensacola, FL	3.0	2.0	1117	$1,700	$1.52	24d	1	1.28mi

Listing history 15 events

1. 2026-06-18
   days on market $45,000 Active 50 DOM
2. 2026-06-17
   days on market $45,000 Active 49 DOM
3. 2026-06-16
   days on market $45,000 Active 48 DOM
4. 2026-06-15
   days on market $45,000 Active 47 DOM
5. 2026-06-14
   days on market $45,000 Active 45 DOM
6. 2026-06-10
   days on market $45,000 Active 42 DOM
7. 2026-06-09
   days on market $45,000 Active 41 DOM
8. 2026-06-08
   days on market $45,000 Active 40 DOM
9. 2026-06-07
   days on market $45,000 Active 39 DOM
10. 2026-06-03
    days on market $45,000 Active 35 DOM
11. 2026-06-02
    days on market $45,000 Active 34 DOM
12. 2026-06-01
    days on market $45,000 Active 33 DOM
13. 2026-05-31
    days on market $45,000 Active 32 DOM
14. 2026-05-31
    days on market $45,000 Active 31 DOM
15. 2026-04-29
    listed $45,000 Active 1862-char remark

ⓘ 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: $18,642
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,491
• − Management: −$1,491
• − Depreciation: −$1,309
• Taxable income: $10,929
• Est. tax owed @ 24.0%: −$2,623
• After-tax cash flow: $8,372/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

Good 80/100 Cosmetic rehab

This manufactured home in Timberlake Estates is in good condition with a good condition score of 80. It has a cosmetic rehab level and requires minor maintenance. The highest-ROI updates would be painting the exterior siding and cleaning the gutters to enhance curb appeal and property value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Clean gutters — Improves drainage and property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Clean gutters — Improves drainage and property value ↑

ⓘ 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 — Bellview

• Score: 67/100
• State rank: #561
• US rank: #10731

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bellview, FL
• County: Escambia County · 301,722 people
• Metro: Pensacola-Ferry Pass-Brent, FL
• Population (ZIP): 44,680
• Household income: $75,098
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 1166.0

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 (66%)
• Race & ethnicity: White 66% Black 19% Two or more races 8% Hispanic / Latino 5% Asian 3%
• Common ancestry: Lithuanian 2% Slovak 2% Serbian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Tagalog/Filipino 1% Other Indo-European 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: ▼ -99.68%
• Current HPI: 252.6406
• Rent YoY: ▲ 4.42%
• 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

• 2026-04-29 Listed $45,000 PARMLS