749 Westwood Beach Cir · Panama City Beach, FL 32413

$198,500

2 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 234 Days on market

Built 1996 9,714 sqft lot Est $209k · 5% 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 +18.5/30.0
• ARV discount +9.8/15.0
• DSCR +5.8/10.0
• Schools +4.3/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter home, investment property or Beach retreat, located in the quiet Westwood Beach Estates neighborhood. This property is situated between the Gulf and Lake Powell. The home is in a very convenient location for anyone that works from Pier Park to the 30A area. With some maintenance and remodeling, this will be a wonderful home. Lake Powell has a boat launch and swimming area. Make an appointment to see this home.

Key facts

• Swimming area
• Boat launch
• Gulf and lake powell

Tags

• GULF AND LAKE POWELL
• BOAT LAUNCH
• SWIMMING AREA

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $198k.

Deal economics

• At list price, monthly cash flow is $190 ($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 $183k (7.6% below list).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 2.6% in Panama City Beach — 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 78/100 on livability (#172 in FL, #2,624 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D-, commute F.
• Bay (suburban): math 51% / reading 51% proficiency, ranked #29 of 73 in FL (top 40%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 1249 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,473 units permitted in Bay County in 2024 (559 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.
• Bay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 234 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; list at $198k implies a 98% 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; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $174,680 (12.0% below list)

Questions for the listing agent

1. It's been on market 234 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.92% ✗
• Cap rate: 7.44%
• Cash-on-cash: 4.09%
• DSCR: 1.18
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $209,088
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22400 Lakeview Ln	0.36mi	3/2.0 (+1)	960 (-9%)	14mo	$190,000	$198	52

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 · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.56×
• Total profit: $-24,602
• Equity at exit: $29,597

10-year hold

• IRR: -7.5%
• Equity multiple: 0.58×
• Total profit: $-23,485
• Equity at exit: $17,163

Cash invested: $55,580 (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 32413

• Home prices YoY: -34.4%
• Rents YoY: 0.5%
• Active inventory: 1249
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,834 medium
• Mortgage (P&I): −$1,041
• Tax from tax record: −$136 /mo · $1,627/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $190

Break-even live

Break-even rent $1,594

Max offer price $198,500

Occupancy floor 85%

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: $49,625
• Closing costs: $5,955
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21101 Panama City Beach Pkwy Panama City Beach, FL	1.0–3.0	1.0–2.0	1004	$1,672	$1.67	13d	12	0.80mi
24200 Panama City Beach Pkwy Panama City Beach, FL	1.0–3.0	1.0–2.0	1115	$2,400	$2.15	13d	170	1.19mi
24400 Panama City Beach Pkwy #207 Panama City Beach, FL	1.0	1.0	788	$1,750	$2.22	21d	1	1.19mi
100 Downing St #13 Panama City Beach, FL	3.0	2.5	1360	$1,950	$1.43	21d	1	1.21mi

Listing history 29 events

1. 2026-06-19
   days on market $198,500 Active 234 DOM
2. 2026-06-18
   days on market $198,500 Active 233 DOM
3. 2026-06-17
   days on market $198,500 Active 232 DOM
4. 2026-06-16
   days on market $198,500 Active 231 DOM
5. 2026-06-15
   days on market $198,500 Active 230 DOM
6. 2026-06-14
   days on market $198,500 Active 228 DOM
7. 2026-06-13
   days on market $198,500 Active 227 DOM
8. 2026-06-10
   days on market $198,500 Active 225 DOM
9. 2026-06-09
   days on market $198,500 Active 224 DOM
10. 2026-06-08
    days on market $198,500 Active 223 DOM
11. 2026-06-07
    days on market $198,500 Active 222 DOM
12. 2026-06-05
    days on market $198,500 Active 219 DOM
13. 2026-06-03
    days on market $198,500 Active 218 DOM
14. 2026-06-02
    days on market $198,500 Active 217 DOM
15. 2026-06-01
    days on market $198,500 Active 216 DOM
16. 2026-05-31
    days on market $198,500 Active 215 DOM
17. 2026-05-30
    days on market $198,500 Active 214 DOM
18. 2026-02-19
    price $198,500 427-char remark

    Show marketing remark (427 chars)

    Great starter home, investment property or Beach retreat, located in the quiet Westwood Beach Estates neighborhood. This property is situated between the Gulf and Lake Powell. The home is in a very convenient location for anyone that works from Pier Park to the 30A area. With some maintenance and remodeling, this will be a wonderful home. Lake Powell has a boat launch and swimming area. Make an appointment to see this home.

19. 2026-01-08
    price $212,000 427-char remark

    Show marketing remark (427 chars)

    Great starter home, investment property or Beach retreat, located in the quiet Westwood Beach Estates neighborhood. This property is situated between the Gulf and Lake Powell. The home is in a very convenient location for anyone that works from Pier Park to the 30A area. With some maintenance and remodeling, this will be a wonderful home. Lake Powell has a boat launch and swimming area. Make an appointment to see this home.

20. 2025-10-28
    listed $228,000 Active 427-char remark

    Show marketing remark (427 chars)

    Great starter home, investment property or Beach retreat, located in the quiet Westwood Beach Estates neighborhood. This property is situated between the Gulf and Lake Powell. The home is in a very convenient location for anyone that works from Pier Park to the 30A area. With some maintenance and remodeling, this will be a wonderful home. Lake Powell has a boat launch and swimming area. Make an appointment to see this home.

21. 2025-10-10
    soldstatus $100,000
22. 2019-10-03
    soldstatus $135,000
23. 2019-09-30
    soldstatus $135,000 239-char remark

    Show marketing remark (239 chars)

    Looking for quiet beach living? This beach property is so convenient to everything; Publix, Winn Dixie, Pier Park, 30A, Lake Powell, and The Gulf. Huge lot to put your boat on too. Affordable living for your primary or secondary residence.

24. 2019-06-28
    listed $146,900 239-char remark

    Show marketing remark (239 chars)

    Looking for quiet beach living? This beach property is so convenient to everything; Publix, Winn Dixie, Pier Park, 30A, Lake Powell, and The Gulf. Huge lot to put your boat on too. Affordable living for your primary or secondary residence.

25. 2018-12-05
    historical
26. 2018-07-16
    listed $119,000
27. 2004-02-02
    soldstatus $66,500
28. 2004-01-30
    soldstatus $66,500
29. 2003-07-15
    listed $69,900

ⓘ 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: $1,627 · $136/mo
• Projected year-2 tax: $1,648 · $137/mo
• Expected delta: +$20/yr (+$2/mo · 1.2%)

ⓘ 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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 22 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,007
• − Mortgage interest: −$11,119
• − Property taxes: −$1,627
• − Insurance: −$992
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$5,775
• Taxable loss: −$1,028
• Est. tax savings @ 24.0%: +$247
• After-tax cash flow: $2,521/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: Bay
• NCES district ID: 1200090
• Math proficiency: 51% ▼ -8.00%
• Reading proficiency: 51% ▼ -7.00%
• Median HH income: $47,740
• Composite: 43.41/100
• National rank: #3014
• State rank: #29 of 73 in FL

Livability — Panama City Beach

• Score: 78/100
• State rank: #172
• US rank: #2624

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bay County · 163,593 people
• City population: 50,689
• Metro: Panama City, FL
• Population (ZIP): 15,453
• Household income: $80,039
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 531.0

Population outlook (Bay County) Hauer SSP2

• Today (2025): 206,264 people
• By 2030: 217,740 · +5.6%
• By 2040: 238,738 · +15.7%
• By 2050: 255,545 · +23.9%
• By 2075: 288,295 · +39.8%
• By 2100: 288,638 · +39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 0%

Political lean MEDSL · Bay

• 2024 margin: Solid R (+47.4) · D 25.8% · R 73.1% · Other 1.1%
• 2008→2024 swing: -6.6pp toward R · 2008: -40.7pp · 2024: -47.4pp
• All cycles: 2024: R+47.4 2020: R+43.5 2016: R+46.3 2012: R+43.6 2008: R+40.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -185.97%
• Current HPI: 354.7469
• Rent YoY: ▲ 0.52%
• Metro: Panama City, 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

+184.0% since first listed

12 events — show timeline

• 2026-02-19 Price Changed $198,500 CPARMLS
• 2026-01-08 Price Changed $212,000 CPARMLS
• 2025-10-28 Listed $228,000 CPARMLS
• 2025-10-10 Sold (Public Records) $100,000 Public Records
• 2019-10-03 Sold (Public Records) $135,000 Public Records
• 2019-09-30 Sold (MLS) $135,000 CPARMLS
• 2019-06-28 Listed $146,900 CPARMLS
• 2018-12-05 Listing Removed — CPARMLS
• 2018-07-16 Listed $119,000 CPARMLS
• 2004-02-02 Sold (Public Records) $66,500 Public Records
• 2004-01-30 Sold (MLS) $66,500 CPARMLS
• 2003-07-15 Listed $69,900 CPARMLS

Property tax history

+9.7%/yr

Latest (2025): $1,627 · +10.2% YoY. Source: county tax records.