2301 W Michigan Ave #13 · Bellview, FL 32526

$125,000

4 bd · 3.0 ba · 1,164 sqft · Townhouse public records · 8 Days on market

Built 1984 871 sqft lot Est $135k · 7% under $105/mo HOA · 6% of rent

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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 +10.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.6/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is a great opportunity to own this beautifully REMODELED townhome that has been upgraded and shows pride of workmanship from every corner. This townhome is perfect for an investor who likes to rent it out and build their rental portfolio or for a home owner who is tired of paying someone else`s mortgage and wants their own mortgage. Home features a FRONT patio where you can lounge after a long day of work. Inside featuring NEW gorgeous LVP Water Proof flooring throughout, Brand new paint, FIREPLACE in the family room(AS IS) for decorative purpose. Kitchen features Brand new Countertops, Newly stained and painted cabinets(Grey blue(looks green in the pics), new sink faucet and Brand new STAINLESS STEEL appliances. Downstairs also features haf bath and extra storage area underneath the stairs where you will also find a brand new water heater. Upstairs are two bedrooms and 2 full baths. Fully updated Master bedroom suite features its adjacent bath and a Walk In Closet. The additional bedroom share a bath that is in the hallway. Both bedrooms have a Private Balcony with sliding glass doors. Other than that home features a great location close to all the Restaurants, I10, and only 15-20 minutes to Downtown Pensacola and lovely beaches. Call today for your private showing!

Key facts

• Tile in kitchen
• New appliances
• Private courtyard

Tags

• TILE IN KITCHEN
• PRIVATE COURTYARD
• NEW APPLIANCES

Property features AI

Finance

• Other: Part of Fairway Villas building; Lot described as interior lot with central access; county-maintained road
• HOA & community: HOA present; annual fee of $1,260 which includes association services

Exterior

• Parking: 2 spaces per unit
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electric service with circuit breakers and copper wiring
• Home design: Attached property; Two levels; Resale condition; Flat roof
• Construction: Built with frame construction; Slab foundation
• Exterior features: Balcony; Patio

Interior

• Kitchen: Laminate counters; Dishwasher; Disposal; Microwave; Refrigerator; Self-cleaning oven; Electric water heater; ENERGY STAR qualified dishwasher, refrigerator, water heater and other appliances
• Bedrooms: Master bedroom approximately 12 x 13 (second bedroom listed as 10 x 12 on second level)
• Flooring: Tile; Carpet
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating; Fireplace(s); Central air; Ceiling fans; ENERGY STAR qualified equipment
• Interior features: Ceiling fans; Blinds
• Laundry & utility: Indoor laundry area

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $567 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 11.7% 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; 10 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).
• This rent runs 30% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 26y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.52% ✓
• Cap rate: 11.74%
• Cash-on-cash: 19.44%
• DSCR: 1.87
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $135,024
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2303 W Michigan Ave Unit F-6	0.05mi	4/2.0	1,204 (+3%)	7mo	$125,000	$104	82
2300 W Michigan Ave #20	0.31mi	4/2.0	1,075 (-8%)	12mo	$125,000	$116	59

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: 13.2%
• Equity multiple: 1.53×
• Total profit: $18,697
• Equity at exit: $18,638

10-year hold

• IRR: 23.2%
• Equity multiple: 3.14×
• Total profit: $74,752
• Equity at exit: $10,808

Cash invested: $35,000 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,906 high
• Mortgage (P&I): −$656
• Tax from tax record: −$126 /mo · $1,509/yr
• Insurance: −$52
• HOA: −$105
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $567

Break-even live

Break-even rent $1,188

Max offer price $125,000

Occupancy floor 65%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
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
5877 Tryton Cir Pensacola, FL	4.0	2.0	1419	$1,825	$1.29	23d	1	0.69mi
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	$1,745	$1.52	13d	9	1.19mi
221 Edison Dr Pensacola, FL	3.0	1.0	1500	$1,598	$1.07	23d	1	1.22mi
6322 Louisville Ave Pensacola, FL	3.0	2.0	1001	$2,147	$2.14	23d	1	1.40mi

HOA detail

• Monthly dues: $105 · $1,260/yr
• Likely covers: water

Listing history 21 events

1. 2026-05-19
   listed $125,000 Active
2. 2023-11-03
   historical
3. 2023-09-30
   listed $154,900 Active
4. 2023-08-11
   soldstatus $140,000
5. 2023-07-31
   soldstatus $140,000 Sold 1292-char remark

   Show marketing remark (1292 chars)

   Here is a great opportunity to own this beautifully REMODELED townhome that has been upgraded and shows pride of workmanship from every corner. This townhome is perfect for an investor who likes to rent it out and build their rental portfolio or for a home owner who is tired of paying someone else`s mortgage and wants their own mortgage. Home features a FRONT patio where you can lounge after a long day of work. Inside featuring NEW gorgeous LVP Water Proof flooring throughout, Brand new paint, FIREPLACE in the family room(AS IS) for decorative purpose. Kitchen features Brand new Countertops, Newly stained and painted cabinets(Grey blue(looks green in the pics), new sink faucet and Brand new STAINLESS STEEL appliances. Downstairs also features haf bath and extra storage area underneath the stairs where you will also find a brand new water heater. Upstairs are two bedrooms and 2 full baths. Fully updated Master bedroom suite features its adjacent bath and a Walk In Closet. The additional bedroom share a bath that is in the hallway. Both bedrooms have a Private Balcony with sliding glass doors. Other than that home features a great location close to all the Restaurants, I10, and only 15-20 minutes to Downtown Pensacola and lovely beaches. Call today for your private showing!

6. 2023-06-30
   historical Contingent 1292-char remark

   Show marketing remark (1292 chars)

   Here is a great opportunity to own this beautifully REMODELED townhome that has been upgraded and shows pride of workmanship from every corner. This townhome is perfect for an investor who likes to rent it out and build their rental portfolio or for a home owner who is tired of paying someone else`s mortgage and wants their own mortgage. Home features a FRONT patio where you can lounge after a long day of work. Inside featuring NEW gorgeous LVP Water Proof flooring throughout, Brand new paint, FIREPLACE in the family room(AS IS) for decorative purpose. Kitchen features Brand new Countertops, Newly stained and painted cabinets(Grey blue(looks green in the pics), new sink faucet and Brand new STAINLESS STEEL appliances. Downstairs also features haf bath and extra storage area underneath the stairs where you will also find a brand new water heater. Upstairs are two bedrooms and 2 full baths. Fully updated Master bedroom suite features its adjacent bath and a Walk In Closet. The additional bedroom share a bath that is in the hallway. Both bedrooms have a Private Balcony with sliding glass doors. Other than that home features a great location close to all the Restaurants, I10, and only 15-20 minutes to Downtown Pensacola and lovely beaches. Call today for your private showing!

7. 2023-06-25
   listed $149,000 Active 1292-char remark

   Show marketing remark (1292 chars)

   Here is a great opportunity to own this beautifully REMODELED townhome that has been upgraded and shows pride of workmanship from every corner. This townhome is perfect for an investor who likes to rent it out and build their rental portfolio or for a home owner who is tired of paying someone else`s mortgage and wants their own mortgage. Home features a FRONT patio where you can lounge after a long day of work. Inside featuring NEW gorgeous LVP Water Proof flooring throughout, Brand new paint, FIREPLACE in the family room(AS IS) for decorative purpose. Kitchen features Brand new Countertops, Newly stained and painted cabinets(Grey blue(looks green in the pics), new sink faucet and Brand new STAINLESS STEEL appliances. Downstairs also features haf bath and extra storage area underneath the stairs where you will also find a brand new water heater. Upstairs are two bedrooms and 2 full baths. Fully updated Master bedroom suite features its adjacent bath and a Walk In Closet. The additional bedroom share a bath that is in the hallway. Both bedrooms have a Private Balcony with sliding glass doors. Other than that home features a great location close to all the Restaurants, I10, and only 15-20 minutes to Downtown Pensacola and lovely beaches. Call today for your private showing!

8. 2022-09-03
   historical
9. 2022-08-17
   listed $115,000 Active
10. 2018-07-09
    soldstatus $43,000
11. 2018-03-08
    listed $53,500
12. 2013-09-17
    soldstatus $40,000
13. 2013-09-06
    soldstatus $40,000
14. 2013-02-11
    listed $47,000
15. 2002-07-16
    soldstatus $47,000
16. 2002-07-09
    soldstatus $47,000
17. 2001-07-26
    listed $49,900
18. 2001-07-09
    historical
19. 2000-06-09
    listed $49,900
20. 1994-11-30
    soldstatus $42,900
21. 1994-04-29
    soldstatus $42,900

ⓘ 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: $1,509 · $126/mo
• Projected year-2 tax: $1,509 · $126/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥105°F today · 19 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: $22,866
• − Mortgage interest: −$7,002
• − Property taxes: −$1,509
• − Insurance: −$625
• − Repairs & maintenance: −$1,829
• − Management: −$1,829
• − HOA: −$1,260
• − Depreciation: −$3,636
• Taxable income: $5,176
• Est. tax owed @ 24.0%: −$1,242
• After-tax cash flow: $5,563/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

+191.4% since first listed

21 events — show timeline

• 2026-05-19 Listed $125,000 PARMLS
• 2023-11-03 Listing Removed — PARMLS
• 2023-09-30 Listed $154,900 PARMLS
• 2023-08-11 Sold (Public Records) $140,000 Public Records
• 2023-07-31 Sold (MLS) $140,000 PARMLS
• 2023-06-30 Contingent — PARMLS
• 2023-06-25 Listed $149,000 PARMLS
• 2022-09-03 Listing Removed — PARMLS
• 2022-08-17 Listed $115,000 PARMLS
• 2018-07-09 Sold (MLS) $43,000 PARMLS
• 2018-03-08 Listed $53,500 PARMLS
• 2013-09-17 Sold (Public Records) $40,000 Public Records
• 2013-09-06 Sold (MLS) $40,000 PARMLS
• 2013-02-11 Listed $47,000 PARMLS
• 2002-07-16 Sold (Public Records) $47,000 Public Records
• 2002-07-09 Sold (MLS) $47,000 PARMLS
• 2001-07-26 Listed $49,900 PARMLS
• 2001-07-09 Listing Removed — PARMLS
• 2000-06-09 Listed $49,900 PARMLS
• 1994-11-30 Sold (Public Records) $42,900 Public Records
• 1994-04-29 Sold (Public Records) $42,900 Public Records

Property tax history

+9.1%/yr

Latest (2025): $1,509 · +13.5% YoY. Source: county tax records.