2301 W Michigan Ave #9 · Bellview, FL 32526

$155,000

2 bd · 3.0 ba · 1,164 sqft · Townhouse public records · 137 Days on market

Built 1984 871 sqft lot $133/sqft · 38% above area Est $112k · 38% over $115/mo HOA · 8% 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).

• Cash flow +17.9/30.0
• DSCR +5.6/10.0
• 1% rule +4.5/10.0
• Rent growth +3.6/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-In Ready with Major Updates! This 2-bedroom, 2.5-bath end-unit townhome in Fairway Village is ready for you, with a new roof, HVAC system (inside and out), NEW WATER HEATER and gutters—all replaced in 2023! Being an end unit, it enjoys extra natural light and a touch of extra space, giving you a sense of privacy while still keeping the easy, low-maintenance lifestyle townhome living provides. The practical, welcoming layout is perfect for everyday living—or ideal for roommates. Step outside to your fenced patio, a simple spot to relax or entertain. Plus, the central Pensacola location keeps shopping, dining, and daily essentials just minutes away. Enjoy comfort, convenience, and peace of mind—schedule your showing today!

Key facts

• End unit
• Fenced patio area
• Hvac system

Tags

• END UNIT
• FENCED PATIO AREA
• CENTRAL PENSACOLA LOCATION
• NEW ROOF
• HVAC SYSTEM

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath townhouse listed at $155k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $147k (5.2% below list).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $5k 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 137 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 16% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $54k; list at $155k implies a 187% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 137 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.95% ✗
• Cap rate: 7.29%
• Cash-on-cash: 3.58%
• DSCR: 1.16
• GRM: 8.8

CMA / ARV

• ARV (median comp): $112,069
• List price: $155,000
• Delta: 38.31%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2301 W Michigan Ave #12	0.00mi	2/2.5	1,164 (0%)	1mo	$143,000	$123	97
2301 W Michigan Ave #25	0.02mi	2/2.5	1,164 (0%)	11mo	$155,000	$133	88
2301 W Michigan Ave #20	0.05mi	2/2.5	1,164 (0%)	12mo	$130,000	$112	85
2303 W Michigan Ave Unit F-5	0.03mi	2/2.0	1,014 (-13%)	7mo	$94,500	$93	67
2303 W Michigan Ave Unit B12	0.03mi	2/2.0	1,014 (-13%)	10mo	$112,000	$110	65
2303 W Michigan Ave Unit A-8	0.03mi	2/2.0	1,014 (-13%)	11mo	$103,000	$102	64
2303 W Michigan Ave Unit C-7	0.03mi	2/2.0	1,014 (-13%)	11mo	$105,000	$104	64
2303 Michigan Ave Unit B-8	0.03mi	2/2.0	1,014 (-13%)	18mo	$120,000	$118	58
6103 East Shore Dr Unit B	0.56mi	2/2.0	1,212 (+4%)	10mo	$170,000	$140	55

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 · 4.42% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-14,753
• Equity at exit: $23,111

10-year hold

• IRR: 2.1%
• Equity multiple: 1.16×
• Total profit: $6,744
• Equity at exit: $13,402

Cash invested: $43,400 (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: 8.8×

Monthly cashflow live

• Estimated rent: $1,470 high
• Mortgage (P&I): −$813
• Tax from tax record: −$39 /mo · $470/yr
• Insurance: −$65
• HOA: −$115
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $129

Break-even live

Break-even rent $1,306

Max offer price $155,000

Occupancy floor 86%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2303 W Michigan Ave Unit A6 Pensacola, FL	2.0	2.0	1014	$1,300	$1.28	23d	1	0.03mi
2301 W Michigan Ave #21 Pensacola, FL	2.0	2.5	1164	$1,325	$1.14	23d	1	0.05mi
5602 W Shore Dr Unit B Pensacola, FL	2.0	2.0	920	$1,250	$1.36	23d	1	0.09mi
2300 W Michigan Ave #12 Pensacola, FL	2.0	2.0	1050	$1,300	$1.24	23d	1	0.28mi
2355 W Michigan Ave Pensacola, FL	1.0–2.0	1.0–2.0	850	$1,450	$1.71	13d	9	0.41mi
925 Twinbrook Ave Pensacola, FL	3.0	1.0	1105	$1,750	$1.58	23d	1	0.53mi
918 Montclair Rd Pensacola, FL	3.0	1.0	1012	$1,500	$1.48	13d	1	0.60mi
902 Lucerne Ave Pensacola, FL	3.0	2.0	1276	$1,600	$1.25	23d	1	0.65mi
3216 Two Sisters Way Pensacola, FL	3.0	2.0	1117	$1,700	$1.52	23d	1	1.00mi
5180 Burlington Ave Pensacola, FL	3.0	2.0	1184	$1,650	$1.39	23d	1	1.04mi
5472 Dover Ave Pensacola, FL	3.0	2.0	840	$1,300	$1.55	23d	1	1.07mi
2702 Massachusetts Ave Pensacola, FL	1.0–3.0	1.0–2.5	1150	$1,520	$1.32	13d	9	1.19mi
221 Edison Dr Pensacola, FL	3.0	1.0	1500	$1,598	$1.07	23d	1	1.22mi
5207 Charbar Dr Unit B Pensacola, FL	2.0	1.0	850	$1,050	$1.24	23d	1	1.23mi
6322 Louisville Ave Pensacola, FL	3.0	2.0	1001	$2,147	$2.14	23d	1	1.40mi
707 New York Dr Pensacola, FL	2.0	1.0	1266	$1,185	$0.94	23d	1	1.46mi

HOA detail

• Monthly dues: $115 · $1,380/yr
• Likely covers: water

Listing history 20 events

1. 2026-06-18
   days on market $155,000 Active 137 DOM
2. 2026-06-17
   days on market $155,000 Active 136 DOM
3. 2026-06-16
   days on market $155,000 Active 135 DOM
4. 2026-06-15
   days on market $155,000 Active 134 DOM
5. 2026-06-14
   days on market $155,000 Active 132 DOM
6. 2026-06-10
   days on market $155,000 Active 129 DOM
7. 2026-06-09
   days on market $155,000 Active 128 DOM
8. 2026-06-08
   days on market $155,000 Active 127 DOM
9. 2026-06-07
   days on market $155,000 Active 126 DOM
10. 2026-06-03
    days on market $155,000 Active 122 DOM
11. 2026-06-02
    days on market $155,000 Active 121 DOM
12. 2026-06-01
    days on market $155,000 Active 120 DOM
13. 2026-05-31
    days on market $155,000 Active 119 DOM
14. 2026-05-31
    days on market $155,000 Active 118 DOM
15. 2026-04-26
    status Active 757-char remark

    Show marketing remark (757 chars)

    Move-In Ready with Major Updates! This 2-bedroom, 2.5-bath end-unit townhome in Fairway Village is ready for you, with a new roof, HVAC system (inside and out), NEW WATER HEATER and gutters—all replaced in 2023! Being an end unit, it enjoys extra natural light and a touch of extra space, giving you a sense of privacy while still keeping the easy, low-maintenance lifestyle townhome living provides. The practical, welcoming layout is perfect for everyday living—or ideal for roommates. Step outside to your fenced patio, a simple spot to relax or entertain. Plus, the central Pensacola location keeps shopping, dining, and daily essentials just minutes away. Enjoy comfort, convenience, and peace of mind—schedule your showing today!

16. 2026-04-26
    price $155,000 757-char remark

    Show marketing remark (757 chars)

    Move-In Ready with Major Updates! This 2-bedroom, 2.5-bath end-unit townhome in Fairway Village is ready for you, with a new roof, HVAC system (inside and out), NEW WATER HEATER and gutters—all replaced in 2023! Being an end unit, it enjoys extra natural light and a touch of extra space, giving you a sense of privacy while still keeping the easy, low-maintenance lifestyle townhome living provides. The practical, welcoming layout is perfect for everyday living—or ideal for roommates. Step outside to your fenced patio, a simple spot to relax or entertain. Plus, the central Pensacola location keeps shopping, dining, and daily essentials just minutes away. Enjoy comfort, convenience, and peace of mind—schedule your showing today!

17. 2026-03-25
    historical Contingent 757-char remark

    Show marketing remark (757 chars)

    Move-In Ready with Major Updates! This 2-bedroom, 2.5-bath end-unit townhome in Fairway Village is ready for you, with a new roof, HVAC system (inside and out), NEW WATER HEATER and gutters—all replaced in 2023! Being an end unit, it enjoys extra natural light and a touch of extra space, giving you a sense of privacy while still keeping the easy, low-maintenance lifestyle townhome living provides. The practical, welcoming layout is perfect for everyday living—or ideal for roommates. Step outside to your fenced patio, a simple spot to relax or entertain. Plus, the central Pensacola location keeps shopping, dining, and daily essentials just minutes away. Enjoy comfort, convenience, and peace of mind—schedule your showing today!

18. 2026-02-01
    listed $134,000 Active 757-char remark

    Show marketing remark (757 chars)

    Move-In Ready with Major Updates! This 2-bedroom, 2.5-bath end-unit townhome in Fairway Village is ready for you, with a new roof, HVAC system (inside and out), NEW WATER HEATER and gutters—all replaced in 2023! Being an end unit, it enjoys extra natural light and a touch of extra space, giving you a sense of privacy while still keeping the easy, low-maintenance lifestyle townhome living provides. The practical, welcoming layout is perfect for everyday living—or ideal for roommates. Step outside to your fenced patio, a simple spot to relax or entertain. Plus, the central Pensacola location keeps shopping, dining, and daily essentials just minutes away. Enjoy comfort, convenience, and peace of mind—schedule your showing today!

19. 2004-12-23
    soldstatus $54,000
20. 1985-01-01
    soldstatus $46,300

ⓘ 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: $470 · $39/mo
• Projected year-2 tax: $1,286 · $107/mo
• Expected delta: +$816/yr (+$68/mo · 173.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥105°F today · 20 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: $17,634
• − Mortgage interest: −$8,682
• − Property taxes: −$470
• − Insurance: −$775
• − Repairs & maintenance: −$1,411
• − Management: −$1,411
• − HOA: −$1,380
• − Depreciation: −$4,509
• Taxable loss: −$1,004
• Est. tax savings @ 24.0%: +$241
• After-tax cash flow: $1,793/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

+234.8% since first listed

6 events — show timeline

• 2026-04-26 Relisted — PARMLS
• 2026-04-26 Price Changed $155,000 PARMLS
• 2026-03-25 Contingent — PARMLS
• 2026-02-01 Listed $134,000 PARMLS
• 2004-12-23 Sold (Public Records) $54,000 Public Records
• 1985-01-01 Sold (Public Records) $46,300 Public Records

Property tax history

+7.4%/yr

Latest (2025): $470 · +36.5% YoY. Source: county tax records.