1548 Chandlee Ave · Panama City, FL 32405

$165,000

2 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 157 Days on market

Built 1947 7,841 sqft lot $123/sqft · 18% below area Est $201k · 18% 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 +23.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.4/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unfinished business opportunity EXCEPTIONAL, INVESTMENT POTENTIAL! major upgrades are already in place, including a brand-new ceiling, updated electrical wiring throughout and new plumbing installed in the bathroom (partially completed). The heavy lifting has begun-now it's ready for your vision to bring it to life. Zoned MU-2 (buyer to verify) offering flexibility for commercial rental, fix-and-flip, redevelopment, or customized use to fit your needs. Sold AS IS A rare chance to finish what's started and turn potencial into profit!

Key facts

• New plumbing
• New ceiling
• 7,841 sq ft lot

Tags

• NEW CEILING
• NEW ELECTRICAL WIRING
• NEW PLUMBING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.7% in Panama City — 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 72/100 on livability (#350 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, 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 rising (+1.2%/yr); 381 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $5k 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 157 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.
• Current owner paid $65k; list at $165k implies a 154% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
6. Crime grade is F 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?
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: 1.04% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.72%
• DSCR: 1.34
• GRM: 8.0

CMA / ARV

• ARV (median comp): $200,783
• List price: $165,000
• Delta: -17.82%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1526 Chandlee Ave	0.10mi	2/1.5	1,280 (-5%)	22mo	$160,000	$125	67
1528 Chandlee Ave	0.10mi	3/2.0 (+1)	1,374 (+2%)	23mo	$280,000	$204	64
1541 N Oak Ave	0.12mi	3/2.0 (+1)	1,382 (+3%)	23mo	$230,000	$166	61
1307 Grace Ave	0.51mi	2/2.0	1,261 (-6%)	20mo	$200,000	$159	45
1300 Balboa Ave	0.74mi	3/2.0 (+1)	1,333 (-1%)	12mo	$202,000	$152	45

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 · 1.24% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.77×
• Total profit: $-10,806
• Equity at exit: $24,602

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $3,068
• Equity at exit: $14,266

Cash invested: $46,200 (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 32405

• Rents YoY: 1.2%
• Active inventory: 381
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,711 high
• Mortgage (P&I): −$865
• Tax from tax record: −$120 /mo · $1,445/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $297

Break-even live

Break-even rent $1,335

Max offer price $165,000

Occupancy floor 78%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1525 Oak Ave Panama City, FL	3.0	1.5	1280	$2,200	$1.72	21d	1	0.20mi
265 15th St Panama City, FL	1.0–3.0	1.0–2.0	967	$1,252	$1.29	13d	4	0.33mi
723 W 19th St Panama City, FL	2.0	2.0	1170	$1,520	$1.30	21d	15	0.34mi
901 W 19th St Panama City, FL	1.0–2.0	1.0–2.0	787	$1,168	$1.48	21d	5	0.47mi
1827 Balboa Ave Panama City, FL	3.0	2.5	1440	$1,800	$1.25	13d	1	0.56mi
2121 Harrison Ave Panama City, FL	1.0–2.0	1.0–2.0	800	$1,550	$1.94	21d	13	0.58mi
2002 Wilson Ave Panama City, FL	1.0–3.0	1.0–2.0	977	$1,854	$1.90	13d	25	0.83mi
300 W 23rd Pl Unit 1491599P Panama City, FL	2.0	1.5	1313	$2,592	$1.97	21d	1	0.84mi
1114 Mc Kenzie Ave Unit 1 Panama City, FL	2.0	1.0	880	$1,850	$2.10	21d	1	0.84mi

Listing history 28 events

1. 2026-06-19
   days on market $165,000 Active 157 DOM
2. 2026-06-18
   days on market $165,000 Active 156 DOM
3. 2026-06-17
   days on market $165,000 Active 155 DOM
4. 2026-06-16
   days on market $165,000 Active 154 DOM
5. 2026-06-15
   days on market $165,000 Active 153 DOM
6. 2026-06-14
   days on market $165,000 Active 151 DOM
7. 2026-06-13
   days on market $165,000 Active 150 DOM
8. 2026-06-10
   days on market $165,000 Active 148 DOM
9. 2026-06-09
   days on market $165,000 Active 147 DOM
10. 2026-06-08
    days on market $165,000 Active 146 DOM
11. 2026-06-07
    days on market $165,000 Active 145 DOM
12. 2026-06-05
    days on market $165,000 Active 142 DOM
13. 2026-06-03
    days on market $165,000 Active 141 DOM
14. 2026-06-02
    days on market $165,000 Active 140 DOM
15. 2026-06-01
    days on market $165,000 Active 139 DOM
16. 2026-05-31
    days on market $165,000 Active 138 DOM
17. 2026-05-30
    days on market $165,000 Active 137 DOM
18. 2026-01-07
    listed $170,000 Active 542-char remark

    Show marketing remark (542 chars)

    Unfinished business opportunity EXCEPTIONAL, INVESTMENT POTENTIAL! major upgrades are already in place, including a brand-new ceiling, updated electrical wiring throughout and new plumbing installed in the bathroom (partially completed). The heavy lifting has begun-now it's ready for your vision to bring it to life. Zoned MU-2 (buyer to verify) offering flexibility for commercial rental, fix-and-flip, redevelopment, or customized use to fit your needs. Sold AS IS A rare chance to finish what's started and turn potencial into profit!

19. 2025-02-21
    soldstatus $65,000
20. 2025-02-14
    soldstatus $65,000 Closed 1016-char remark

    Show marketing remark (1016 chars)

    Don't miss this amazing opportunity to turn this house back into a home. There is so much potential. A tenant has been occupying it until recently but it is now vacant and ready for a new owner. It will need a new roof and various other TLC. Electricity and water is on. The home also has gas but it is currently turned off. The water heater is not functional and there is no central air, only window units. There is a large living room area with a lovely fireplace. The kitchen had been sectioned off previously, but could be opened up again with possible opportunity to reconfigure the floor plan. The Florida room is fully enclosed to create a second bedroom. There is one full bath. Looking to sell quickly! Excellent central location in Panama City - not far from Tyndall Air Force Base or the beautiful beaches of Panama City Beach. Only one mile to Walmart and Gulf Coast Hospital plus very close to so many other shopping and dining options along 15th and 23rd St in Panama City. Schedule your showing today!

21. 2025-02-06
    status Pending 1016-char remark

    Show marketing remark (1016 chars)

    Don't miss this amazing opportunity to turn this house back into a home. There is so much potential. A tenant has been occupying it until recently but it is now vacant and ready for a new owner. It will need a new roof and various other TLC. Electricity and water is on. The home also has gas but it is currently turned off. The water heater is not functional and there is no central air, only window units. There is a large living room area with a lovely fireplace. The kitchen had been sectioned off previously, but could be opened up again with possible opportunity to reconfigure the floor plan. The Florida room is fully enclosed to create a second bedroom. There is one full bath. Looking to sell quickly! Excellent central location in Panama City - not far from Tyndall Air Force Base or the beautiful beaches of Panama City Beach. Only one mile to Walmart and Gulf Coast Hospital plus very close to so many other shopping and dining options along 15th and 23rd St in Panama City. Schedule your showing today!

22. 2025-01-25
    status Active 1016-char remark

    Show marketing remark (1016 chars)

    Don't miss this amazing opportunity to turn this house back into a home. There is so much potential. A tenant has been occupying it until recently but it is now vacant and ready for a new owner. It will need a new roof and various other TLC. Electricity and water is on. The home also has gas but it is currently turned off. The water heater is not functional and there is no central air, only window units. There is a large living room area with a lovely fireplace. The kitchen had been sectioned off previously, but could be opened up again with possible opportunity to reconfigure the floor plan. The Florida room is fully enclosed to create a second bedroom. There is one full bath. Looking to sell quickly! Excellent central location in Panama City - not far from Tyndall Air Force Base or the beautiful beaches of Panama City Beach. Only one mile to Walmart and Gulf Coast Hospital plus very close to so many other shopping and dining options along 15th and 23rd St in Panama City. Schedule your showing today!

23. 2024-12-21
    historical Active Under Contract 1016-char remark

    Show marketing remark (1016 chars)

    Don't miss this amazing opportunity to turn this house back into a home. There is so much potential. A tenant has been occupying it until recently but it is now vacant and ready for a new owner. It will need a new roof and various other TLC. Electricity and water is on. The home also has gas but it is currently turned off. The water heater is not functional and there is no central air, only window units. There is a large living room area with a lovely fireplace. The kitchen had been sectioned off previously, but could be opened up again with possible opportunity to reconfigure the floor plan. The Florida room is fully enclosed to create a second bedroom. There is one full bath. Looking to sell quickly! Excellent central location in Panama City - not far from Tyndall Air Force Base or the beautiful beaches of Panama City Beach. Only one mile to Walmart and Gulf Coast Hospital plus very close to so many other shopping and dining options along 15th and 23rd St in Panama City. Schedule your showing today!

24. 2024-12-16
    status Active 1016-char remark

    Show marketing remark (1016 chars)

    Don't miss this amazing opportunity to turn this house back into a home. There is so much potential. A tenant has been occupying it until recently but it is now vacant and ready for a new owner. It will need a new roof and various other TLC. Electricity and water is on. The home also has gas but it is currently turned off. The water heater is not functional and there is no central air, only window units. There is a large living room area with a lovely fireplace. The kitchen had been sectioned off previously, but could be opened up again with possible opportunity to reconfigure the floor plan. The Florida room is fully enclosed to create a second bedroom. There is one full bath. Looking to sell quickly! Excellent central location in Panama City - not far from Tyndall Air Force Base or the beautiful beaches of Panama City Beach. Only one mile to Walmart and Gulf Coast Hospital plus very close to so many other shopping and dining options along 15th and 23rd St in Panama City. Schedule your showing today!

25. 2024-12-11
    historical Active Under Contract 1016-char remark

    Show marketing remark (1016 chars)

    Don't miss this amazing opportunity to turn this house back into a home. There is so much potential. A tenant has been occupying it until recently but it is now vacant and ready for a new owner. It will need a new roof and various other TLC. Electricity and water is on. The home also has gas but it is currently turned off. The water heater is not functional and there is no central air, only window units. There is a large living room area with a lovely fireplace. The kitchen had been sectioned off previously, but could be opened up again with possible opportunity to reconfigure the floor plan. The Florida room is fully enclosed to create a second bedroom. There is one full bath. Looking to sell quickly! Excellent central location in Panama City - not far from Tyndall Air Force Base or the beautiful beaches of Panama City Beach. Only one mile to Walmart and Gulf Coast Hospital plus very close to so many other shopping and dining options along 15th and 23rd St in Panama City. Schedule your showing today!

26. 2024-10-15
    status Pending 1016-char remark

    Show marketing remark (1016 chars)

    Don't miss this amazing opportunity to turn this house back into a home. There is so much potential. A tenant has been occupying it until recently but it is now vacant and ready for a new owner. It will need a new roof and various other TLC. Electricity and water is on. The home also has gas but it is currently turned off. The water heater is not functional and there is no central air, only window units. There is a large living room area with a lovely fireplace. The kitchen had been sectioned off previously, but could be opened up again with possible opportunity to reconfigure the floor plan. The Florida room is fully enclosed to create a second bedroom. There is one full bath. Looking to sell quickly! Excellent central location in Panama City - not far from Tyndall Air Force Base or the beautiful beaches of Panama City Beach. Only one mile to Walmart and Gulf Coast Hospital plus very close to so many other shopping and dining options along 15th and 23rd St in Panama City. Schedule your showing today!

27. 2024-10-12
    price $85,000 1016-char remark

    Show marketing remark (1016 chars)

    Don't miss this amazing opportunity to turn this house back into a home. There is so much potential. A tenant has been occupying it until recently but it is now vacant and ready for a new owner. It will need a new roof and various other TLC. Electricity and water is on. The home also has gas but it is currently turned off. The water heater is not functional and there is no central air, only window units. There is a large living room area with a lovely fireplace. The kitchen had been sectioned off previously, but could be opened up again with possible opportunity to reconfigure the floor plan. The Florida room is fully enclosed to create a second bedroom. There is one full bath. Looking to sell quickly! Excellent central location in Panama City - not far from Tyndall Air Force Base or the beautiful beaches of Panama City Beach. Only one mile to Walmart and Gulf Coast Hospital plus very close to so many other shopping and dining options along 15th and 23rd St in Panama City. Schedule your showing today!

28. 2024-10-03
    listed $100,000 Active 1016-char remark

    Show marketing remark (1016 chars)

    Don't miss this amazing opportunity to turn this house back into a home. There is so much potential. A tenant has been occupying it until recently but it is now vacant and ready for a new owner. It will need a new roof and various other TLC. Electricity and water is on. The home also has gas but it is currently turned off. The water heater is not functional and there is no central air, only window units. There is a large living room area with a lovely fireplace. The kitchen had been sectioned off previously, but could be opened up again with possible opportunity to reconfigure the floor plan. The Florida room is fully enclosed to create a second bedroom. There is one full bath. Looking to sell quickly! Excellent central location in Panama City - not far from Tyndall Air Force Base or the beautiful beaches of Panama City Beach. Only one mile to Walmart and Gulf Coast Hospital plus very close to so many other shopping and dining options along 15th and 23rd St in Panama City. Schedule your showing today!

ⓘ 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: $1,445 · $120/mo
• Projected year-2 tax: $1,445 · $120/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 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: $20,533
• − Mortgage interest: −$9,243
• − Property taxes: −$1,445
• − Insurance: −$825
• − Repairs & maintenance: −$1,643
• − Management: −$1,643
• − Depreciation: −$4,800
• Taxable income: $935
• Est. tax owed @ 24.0%: −$224
• After-tax cash flow: $3,343/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

• Score: 72/100
• State rank: #350
• US rank: #5823

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Panama City, FL
• County: Bay County · 163,593 people
• City population: 91,445
• Metro: Panama City, FL
• Population (ZIP): 29,984
• Household income: $73,373
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1008.0

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 (67%)
• Race & ethnicity: White 67% Black 17% Two or more races 8% Hispanic / Latino 7% Native American 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 4% Lithuanian 2% Romanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 6% Arabic 1% French/Haitian/Cajun 1%

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: ▼ -217.88%
• Current HPI: 262.7854
• Rent YoY: ▲ 1.24%
• 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

+70.0% since first listed

11 events — show timeline

• 2026-01-07 Listed $170,000 CPARMLS
• 2025-02-21 Sold (Public Records) $65,000 Public Records
• 2025-02-14 Sold (MLS) $65,000 CPARMLS
• 2025-02-06 Pending — CPARMLS
• 2025-01-25 Relisted — CPARMLS
• 2024-12-21 Contingent — CPARMLS
• 2024-12-16 Relisted — CPARMLS
• 2024-12-11 Contingent — CPARMLS
• 2024-10-15 Pending — CPARMLS
• 2024-10-12 Price Changed $85,000 CPARMLS
• 2024-10-03 Listed $100,000 CPARMLS

Property tax history

+32.6%/yr

Latest (2025): $1,445 · +25.9% YoY. Source: county tax records.