68 Suwannee Ave · Panacea, FL 32346

$269,000

3 bd · 1.0 ba · 1,020 sqft · SingleFamily public records · 109 Days on market

Built 1955 0.34 ac lot Est $185k · 46% over

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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 +14.2/30.0
• Appreciation +10.0/10.0
• Schools +4.8/10.0
• DSCR +4.3/10.0
• 1% rule +3.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks

Looking for a family vacation home or an investment property? This stunning 3-bedroom, 2-bath fully remodeled home could be just what you need! It’s within walking distance to a boat ramp, marina, and fantastic waterfront restaurants. Featuring a metal roof, brand-new laminate flooring, spacious screened front and back porches, and two fenced lots for a generous yard, it has room for all your activities. The large, covered carport is perfect for your RV or boat, and there’s even a fish cleaning station. Bring your friends, family, golf carts, and boats to enjoy everything the area offers. Don’t miss the chance to see this gorgeous home—additional photos coming soon!

Key facts

• Fully remodeled
• Two fenced lots
• 0.34 acre lot

Tags

• FULLY REMODELED
• WALKING DISTANCE TO BOAT RAMP
• WALKING DISTANCE TO MARINA
• NEW LAMINATE FLOORING
• SPACIOUS SCREENED PORCHES
• TWO FENCED LOTS

Property features AI

Finance

• Financial info: Offered for sale

Exterior

• Parking: Carport with two spaces
• Utilities: Public sewer; Publicly maintained road
• Home design: Single-story home
• Exterior features: Fully fenced yard; Covered patio/porch; Deck; Porch

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Bedroom 2 (9x9); Bedroom 3 (8x8)
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fan(s)
• Interior features: Laminate flooring

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $269k.

Deal economics

• At list price, monthly cash flow is $-381 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (25.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (19.6% below list).
• Recommended offer: $202k (25.0% below list) — sets the bar for cash-flow.
• Cap rate 6.5% vs local median 1.0% in Panacea — 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 60/100 on livability (#799 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime D+, schools F, amenities F.
• Wakulla (rural): math 56% / reading 56% proficiency, ranked #18 of 73 in FL (top 25%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 146 active listings in the ZIP; 468 units permitted in Wakulla County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $29k of equity ($2k loan paydown + $27k appreciation (10.0% local appreciation)).
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($245k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,757 (25.0% 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. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. 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?
10. 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.
11. 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.
12. 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: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $184,620
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 Clark Dr	0.44mi	2/2.0 (-1)	1,064 (+4%)	1mo	$155,000	$146	63
5 Alapaha Ave	0.54mi	3/2.0	1,104 (+8%)	3mo	$200,000	$181	54
206 Clark Dr	0.58mi	2/1.0 (-1)	888 (-13%)	6mo	$255,000	$287	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.0%
• Equity multiple: 2.63×
• Total profit: $122,435
• Equity at exit: $242,337

10-year hold

• IRR: 18.3%
• Equity multiple: 6.04×
• Total profit: $379,962
• Equity at exit: $522,608

Cash invested: $75,320 (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 32346

• Home prices YoY: 26.4%
• Active inventory: 146
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,163 medium
• Mortgage (P&I): −$1,411
• Tax from tax record: −$140 /mo · $1,679/yr
• Insurance: −$112
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $-381

Break-even live

Break-even rent $2,645

Max offer price $201,757

Occupancy floor —

Sensitivity live

Price	-10% $-228	-5% $-305	+0% $-381	+5% $-457	+10% $-533
Rent	-10% $-552	-5% $-466	+0% $-381	+5% $-295	+10% $-210
Rate	-1.0pp $-245	-0.5pp $-312	base $-381	+0.5pp $-450	+1.0pp $-521

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $269,000 Active 109 DOM
2. 2026-06-17
   days on market $269,000 Active 108 DOM
3. 2026-06-16
   days on market $269,000 Active 107 DOM
4. 2026-06-15
   days on market $269,000 Active 106 DOM
5. 2026-06-14
   days on market $269,000 Active 104 DOM
6. 2026-06-10
   days on market $269,000 Active 101 DOM
7. 2026-06-09
   days on market $269,000 Active 100 DOM
8. 2026-06-08
   days on market $269,000 Active 99 DOM
9. 2026-06-07
   days on market $269,000 Active 98 DOM
10. 2026-06-05
    days on market $269,000 Active 95 DOM
11. 2026-06-03
    days on market $269,000 Active 94 DOM
12. 2026-06-02
    days on market $269,000 Active 93 DOM
13. 2026-06-01
    days on market $269,000 Active 92 DOM
14. 2026-05-31
    days on market $269,000 Active 91 DOM
15. 2026-05-30
    days on market $269,000 Active 90 DOM
16. 2026-02-24
    listed $269,000 Active

ⓘ 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: $1,679 · $140/mo
• Projected year-2 tax: $2,233 · $186/mo
• Expected delta: +$553/yr (+$46/mo · 32.9%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,953
• − Mortgage interest: −$15,068
• − Property taxes: −$1,679
• − Insurance: −$6,464
• − Repairs & maintenance: −$2,076
• − Management: −$2,076
• − Depreciation: −$7,825
• Taxable loss: −$9,236
• Est. tax savings @ 24.0%: +$2,217
• After-tax cash flow: $-2,351/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: Wakulla
• NCES district ID: 1201950
• Math proficiency: 56% ▼ -7.00%
• Reading proficiency: 56% ▼ -5.00%
• Median HH income: $53,740
• Composite: 48.12/100
• National rank: #2183
• State rank: #18 of 73 in FL

Livability — Panacea

• Score: 60/100
• State rank: #799
• US rank: #18502

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Panacea, FL
• Population (ZIP): 2,393

Population outlook (Wakulla County) Hauer SSP2

• Today (2025): 32,809 people
• By 2030: 33,165 · +1.1%
• By 2040: 33,245 · +1.3%
• By 2050: 32,539 · -0.8%
• By 2075: 29,676 · -9.5%
• By 2100: 22,931 · -30.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Scottish 2% Slovak 2% Italian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Wakulla

• 2024 margin: Solid R (+44.4) · D 27.4% · R 71.8%
• 2008→2024 swing: -19.5pp toward R · 2008: -24.8pp · 2024: -44.4pp
• All cycles: 2024: R+44.4 2020: R+40.9 2016: R+40.1 2012: R+28.1 2008: R+24.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 87.07%
• Current HPI: 417.3486
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-02-24 Listed $269,000 CATRS

Property tax history

+4.4%/yr

Latest (2025): $1,679 · +6.5% YoY. Source: county tax records.