2600 W Michigan Ave Unit 48B · Bellview, FL 32526

$40,400

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 36 Days on market

Built 2026 Good condition $38/sqft · 46% below area Est $75k · 46% under

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Why this score? — see what drove the C- 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Condition / age +3.8/5.0
• Rent growth +3.6/5.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Appreciation +0.0/10.0

Listing remarks

* THIS IS A RESALE LISTING * This welcoming, well-maintained 3 bedroom, 2 bathroom home is a perfect place to raise your family. For your convenience, we have onsite community management to assist you when you need it. With our family-friendly community amenities such as a fitness center, community events, and a clubhouse, your family will be excited to live here. This home won't be on the market long, so call us today for more information or to schedule a tour. Deposits & Fees are subject to change.

Key facts

• Built 2026
• Listed 36 days

Property features AI

Finance

• Other: Located at 2600 W Michigan Ave Unit 48B, Pensacola, FL 32526; Listing provided by Zillow; information deemed reliable but not guaranteed
• Financial info: List price $39,900

Exterior

• Utilities: Electric heating; Central air conditioning
• Home design: Spec inventory type; Plan 93276; Active status
• Exterior features: Living area of 1,056

Interior

• Bedrooms: 3 bedrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: 2 bathrooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $40k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (3.0% below list) — sets the bar for market timing.
• Cap rate 38.9% 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; 17 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 $279 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 $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Recommended offer $39,188 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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: 4.32% ✓
• Cap rate: 38.91%
• Cash-on-cash: 116.49%
• DSCR: 6.18
• GRM: 1.9

CMA / ARV

• ARV (median comp): $75,000
• List price: $40,400
• Delta: -46.13%
• 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: —
• Equity multiple: 6.83×
• Total profit: $65,947
• Equity at exit: $6,024

10-year hold

• IRR: —
• Equity multiple: 14.99×
• Total profit: $158,264
• Equity at exit: $3,493

Cash invested: $11,312 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,743 high
• Mortgage (P&I): −$212
• Tax est. 1.5%: −$50 /mo · $606/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $1,098

Break-even live

Break-even rent $353

Max offer price $40,400

Occupancy floor 32%

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: $10,100
• Closing costs: $1,212
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5877 Tryton Cir Pensacola, FL	4.0	2.0	1419	$1,825	$1.29	23d	1	0.22mi
2300 W Michigan Ave #12 Pensacola, FL	2.0	2.0	1050	$1,300	$1.24	23d	1	0.48mi
2355 W Michigan Ave Pensacola, FL	1.0–2.0	1.0–2.0	850	$1,450	$1.71	13d	9	0.53mi
5602 W Shore Dr Unit B Pensacola, FL	2.0	2.0	920	$1,250	$1.36	23d	1	0.64mi
2303 W Michigan Ave Unit A6 Pensacola, FL	2.0	2.0	1014	$1,300	$1.28	23d	1	0.72mi
6322 Louisville Ave Pensacola, FL	3.0	2.0	1001	$2,147	$2.14	23d	1	0.72mi
2301 W Michigan Ave #21 Pensacola, FL	2.0	2.5	1164	$1,325	$1.14	23d	1	0.76mi
5472 Dover Ave Pensacola, FL	3.0	2.0	840	$1,300	$1.55	23d	1	0.78mi
6201 Forest Pines Dr Unit D Pensacola, FL	2.0	1.0	857	$1,275	$1.49	13d	1	0.87mi
925 Twinbrook Ave Pensacola, FL	3.0	1.0	1105	$1,750	$1.58	23d	1	0.88mi
5207 Charbar Dr Unit B Pensacola, FL	2.0	1.0	850	$1,050	$1.24	23d	1	1.19mi
6225 Mobile Hwy Pensacola, FL	1.0–3.0	1.0–2.0	1036	$2,595	$2.50	13d	15	1.20mi
2702 Massachusetts Ave Pensacola, FL	1.0–3.0	1.0–2.5	1150	$1,745	$1.52	13d	9	1.23mi
902 Lucerne Ave Pensacola, FL	3.0	2.0	1276	$1,600	$1.25	23d	1	1.25mi
918 Montclair Rd Pensacola, FL	3.0	1.0	1012	$1,500	$1.48	13d	1	1.28mi
3216 Two Sisters Way Pensacola, FL	3.0	2.0	1117	$1,700	$1.52	23d	1	1.28mi
6081 Royal Port Ct Pensacola, FL	3.0	2.5	1428	$1,850	$1.30	23d	1	1.30mi

Listing history 14 events

1. 2026-06-18
   days on market $40,400 Active 36 DOM
2. 2026-06-17
   days on market $40,400 Active 35 DOM
3. 2026-06-16
   days on market $40,400 Active 34 DOM
4. 2026-06-15
   days on market $40,400 Active 33 DOM
5. 2026-06-14
   days on market $40,400 Active 31 DOM
6. 2026-06-10
   days on market $40,400 Active 28 DOM
7. 2026-06-09
   days on market $40,400 Active 27 DOM
8. 2026-06-08
   days on market $40,400 Active 26 DOM
9. 2026-06-07
   days on market $40,400 Active 25 DOM
10. 2026-06-03
    days on market $40,400 Active 21 DOM
11. 2026-06-02
    days on market $40,400 Active 20 DOM
12. 2026-06-01
    pricedays on market $40,400 Active 19 DOM
13. 2026-05-31
    days on market $39,900 Active 18 DOM
14. 2026-05-13
    listed $39,900 Active 514-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: $20,922
• − Mortgage interest: −$2,263
• − Property taxes: −$606
• − Insurance: −$202
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − Depreciation: −$1,175
• Taxable income: $13,328
• Est. tax owed @ 24.0%: −$3,199
• After-tax cash flow: $9,979/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 · 1 photo

Good 75/100 Cosmetic rehab

This well-maintained 3-bedroom, 2-bathroom home is ready for a new owner. It features a clean exterior, good condition throughout, and a family-friendly community with amenities.

Value-add opportunities

• Resale Paint exterior trim — Fresh paint can enhance curb appeal and the home's overall appearance.
• Rental Clean and maintain gutters — Clean gutters improve water drainage and prevent potential water damage to the home.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Fresh paint can enhance curb appeal and the home's overall appearance. ↑
• Rental Clean and maintain gutters — Clean gutters improve water drainage and prevent potential water damage to the home. ↑

ⓘ 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