2447 Spyglass Cir · Bellview, FL 32526

$190,000

2 bd · 1.0 ba · 888 sqft · Other public records · 23 Days on market

Built 1998

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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).

• Cash flow +12.4/30.0
• ARV discount +7.5/15.0
• DSCR +3.7/10.0
• Rent growth +3.6/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Clean and tidy two bedroom one bath townhome in the desirable Newport Place subdivision! This would make an excellent first home, downsize, or investment property. Roomy and bright with all tile floors, this home features central heat and air, washer/dryer hookups, a full kitchen, breakfast bar, vaulted ceiling in the main living area, additional storage room off of the back patio, a privacy fenced back yard, and a new roof was put on in 2020.

Key facts

• New stove
• Tiled floors
• Updated kitchen

Tags

• SCREENED IN BACK PORCH
• TILED FLOORS
• UPDATED KITCHEN
• NEW STOVE
• NEW MICROWAVE
• NEW PALM LEAF CEILING FANS

Property features AI

Exterior

• Home design: Built in 1998; Single-family residence
• Construction: 1998 construction
• Exterior features: Located in the Newport Place subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $190k.

Deal economics

• At list price, monthly cash flow is $-30 ($-364/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $152k (20.1% below list).
• Recommended offer: $152k (20.1% below list) — sets the bar for 1% rule.

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 $1k of loan paydown is wiped out by about $6k 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 23 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $134k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $151,831 (20.1% 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. 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. 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?
5. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.68%
• DSCR: 0.97
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.0%
• Equity multiple: 0.43×
• Total profit: $-30,546
• Equity at exit: $28,330

10-year hold

• IRR: -5.4%
• Equity multiple: 0.63×
• Total profit: $-19,906
• Equity at exit: $16,428

Cash invested: $53,200 (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: 10.4×

Monthly cashflow live

• Estimated rent: $1,518 high
• Mortgage (P&I): −$996
• Tax from tax record: −$154 /mo · $1,851/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $-30

Break-even live

Break-even rent $1,557

Max offer price $184,648

Occupancy floor 97%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2355 W Michigan Ave Pensacola, FL	1.0–2.0	1.0–2.0	850	$1,450	$1.71	14d	9	0.07mi
2300 W Michigan Ave #12 Pensacola, FL	2.0	2.0	1050	$1,300	$1.24	23d	1	0.24mi
2303 W Michigan Ave Unit A6 Pensacola, FL	2.0	2.0	1014	$1,300	$1.28	23d	1	0.46mi
5602 W Shore Dr Unit B Pensacola, FL	2.0	2.0	920	$1,250	$1.36	23d	1	0.46mi
5472 Dover Ave Pensacola, FL	3.0	2.0	840	$1,300	$1.55	23d	1	0.59mi
3216 Two Sisters Way Pensacola, FL	3.0	2.0	1117	$1,700	$1.52	23d	1	0.80mi
2702 Massachusetts Ave Pensacola, FL	1.0–3.0	1.0–2.5	1150	$1,520	$1.32	14d	9	0.82mi
5207 Charbar Dr Unit B Pensacola, FL	2.0	1.0	850	$1,050	$1.24	23d	1	0.83mi
925 Twinbrook Ave Pensacola, FL	3.0	1.0	1105	$1,750	$1.58	23d	1	0.92mi
6322 Louisville Ave Pensacola, FL	3.0	2.0	1001	$2,147	$2.14	23d	1	1.00mi
918 Montclair Rd Pensacola, FL	3.0	1.0	1012	$1,500	$1.48	14d	1	1.07mi
6201 Forest Pines Dr Unit D Pensacola, FL	2.0	1.0	857	$1,275	$1.49	14d	1	1.35mi
6225 Mobile Hwy Pensacola, FL	1.0–3.0	1.0–2.0	1036	$2,072	$2.00	14d	15	1.41mi

Listing history 26 events

1. 2026-06-18
   days on market $190,000 Active 23 DOM
2. 2026-06-17
   days on market $190,000 Active 22 DOM
3. 2026-06-16
   days on market $190,000 Active 21 DOM
4. 2026-06-15
   days on market $190,000 Active 20 DOM
5. 2026-06-14
   days on market $190,000 Active 18 DOM
6. 2026-06-10
   days on market $190,000 Active 15 DOM
7. 2026-06-09
   days on market $190,000 Active 14 DOM
8. 2026-06-08
   days on market $190,000 Active 13 DOM
9. 2026-06-07
   days on market $190,000 Active 12 DOM
10. 2026-06-03
    days on market $190,000 Active 8 DOM
11. 2026-06-02
    days on market $190,000 Active 7 DOM
12. 2026-06-01
    days on market $190,000 Active 6 DOM
13. 2026-05-31
    days on market $190,000 Active 5 DOM
14. 2026-05-26
    listed $190,000 Active
15. 2022-12-22
    soldstatus $133,600
16. 2022-12-15
    soldstatus $133,550 Sold 449-char remark

    Show marketing remark (449 chars)

    Clean and tidy two bedroom one bath townhome in the desirable Newport Place subdivision! This would make an excellent first home, downsize, or investment property. Roomy and bright with all tile floors, this home features central heat and air, washer/dryer hookups, a full kitchen, breakfast bar, vaulted ceiling in the main living area, additional storage room off of the back patio, a privacy fenced back yard, and a new roof was put on in 2020.

17. 2022-12-05
    historical 449-char remark

    Show marketing remark (449 chars)

    Clean and tidy two bedroom one bath townhome in the desirable Newport Place subdivision! This would make an excellent first home, downsize, or investment property. Roomy and bright with all tile floors, this home features central heat and air, washer/dryer hookups, a full kitchen, breakfast bar, vaulted ceiling in the main living area, additional storage room off of the back patio, a privacy fenced back yard, and a new roof was put on in 2020.

18. 2022-11-18
    historical Contingent 449-char remark

    Show marketing remark (449 chars)

    Clean and tidy two bedroom one bath townhome in the desirable Newport Place subdivision! This would make an excellent first home, downsize, or investment property. Roomy and bright with all tile floors, this home features central heat and air, washer/dryer hookups, a full kitchen, breakfast bar, vaulted ceiling in the main living area, additional storage room off of the back patio, a privacy fenced back yard, and a new roof was put on in 2020.

19. 2022-11-07
    listed $134,750 Active 449-char remark

    Show marketing remark (449 chars)

    Clean and tidy two bedroom one bath townhome in the desirable Newport Place subdivision! This would make an excellent first home, downsize, or investment property. Roomy and bright with all tile floors, this home features central heat and air, washer/dryer hookups, a full kitchen, breakfast bar, vaulted ceiling in the main living area, additional storage room off of the back patio, a privacy fenced back yard, and a new roof was put on in 2020.

20. 2013-01-03
    soldstatus $55,000
21. 2012-12-28
    soldstatus $55,000 546-char remark

    Show marketing remark (546 chars)

    Quaint, little home with space to park 2 cars and a privacy-fenced backyard for your pup or for relaxing in the shade. Designed for easy care with lots of room to cook ( new stove installed 7/2011 ), dine, and then relax in the living room. The master is big enough for most of us with a cozy full bath / washer/dryer area. Whole house is tiled for easy care and the central heat + air is total electric. Comes with a newer refrigerator and a washer + dryer. The complex is well maintained and the HOA covers the roof as well as the common areas.

22. 2012-11-06
    listed $60,000 546-char remark

    Show marketing remark (546 chars)

    Quaint, little home with space to park 2 cars and a privacy-fenced backyard for your pup or for relaxing in the shade. Designed for easy care with lots of room to cook ( new stove installed 7/2011 ), dine, and then relax in the living room. The master is big enough for most of us with a cozy full bath / washer/dryer area. Whole house is tiled for easy care and the central heat + air is total electric. Comes with a newer refrigerator and a washer + dryer. The complex is well maintained and the HOA covers the roof as well as the common areas.

23. 2011-01-07
    historical
24. 2010-10-07
    listed $63,000
25. 2005-04-12
    soldstatus $70,000
26. 2005-04-01
    soldstatus $70,000

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

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $1,851 · $154/mo
• Projected year-2 tax: $1,851 · $154/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,220
• − Mortgage interest: −$10,643
• − Property taxes: −$1,851
• − Insurance: −$950
• − Repairs & maintenance: −$1,458
• − Management: −$1,458
• − Depreciation: −$5,527
• Taxable loss: −$3,666
• Est. tax savings @ 24.0%: +$880
• After-tax cash flow: $516/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.

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

+171.4% since first listed

13 events — show timeline

• 2026-05-26 Listed $190,000 FSBO.com
• 2022-12-22 Sold (Public Records) $133,600 Public Records
• 2022-12-15 Sold (MLS) $133,550 PARMLS
• 2022-12-05 Listing Removed — PARMLS
• 2022-11-18 Contingent — PARMLS
• 2022-11-07 Listed $134,750 PARMLS
• 2013-01-03 Sold (Public Records) $55,000 Public Records
• 2012-12-28 Sold (MLS) $55,000 PARMLS
• 2012-11-06 Listed $60,000 PARMLS
• 2011-01-07 Listing Removed — PARMLS
• 2010-10-07 Listed $63,000 PARMLS
• 2005-04-12 Sold (Public Records) $70,000 Public Records
• 2005-04-01 Sold (Public Records) $70,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $1,851 · +9.9% YoY. Source: county tax records.