17620 Front Beach Rd Unit Z2 · Panama City Beach, FL 32413

$250,000

2 bd · 2.0 ba · 1,120 sqft · Condo public records · 370 Days on market

Built 1984

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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 +22.0/30.0
• ARV discount +7.5/15.0
• DSCR +7.0/10.0
• 1% rule +5.5/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well-maintained and tastefully upgraded condo located in the tropical resort community of Portside—just across from the beach with direct access and only minutes from Pier Park. Enjoy resort-style amenities including three swimming pools (one heated), a hot tub, tennis courts, shuffleboard, and a clubhouse. This unit is nestled in one of the most private areas of the resort, offering peace and quiet. Sold fully furnished and rental-ready, it features recent upgrades such as luxury vinyl plank flooring, new furniture, fresh paint, and more. Don't miss out—schedule your showing today!

Key facts

• Hot tub
• Three swimming pools
• Tennis courts

Tags

• DIRECT ACCESS TO BEACH
• THREE SWIMMING POOLS
• HEATED SWIMMING POOL
• HOT TUB
• TENNIS COURTS
• SHUFFLEBOARD

Property features AI

Finance

• HOA & community: Homeowners association present; All units furnished (multi-unit)

Exterior

• Utilities: Electricity available; Public sewer
• Home design: Condo; Slab foundation
• Construction: Stucco and wood frame construction; Shingle roof
• Exterior features: Covered patio; Patio; Balcony; Community in-ground pool; Community spa; Community features: clubhouse, basketball court, tennis courts; Short-term rentals allowed; Dumpster on site

Interior

• Bedrooms: Two bedrooms (both on the second level)
• Flooring: Luxury vinyl plank
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Luxury vinyl plank flooring

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $396 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $220k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent runs 39% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $8k 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 370 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 26y ago; this cycle's ask has dropped $54k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; list at $250k implies a 85% 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; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $220,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 370 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.05% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.79%
• DSCR: 1.30
• GRM: 7.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -8.6%
• Equity multiple: 0.69×
• Total profit: $-21,651
• Equity at exit: $37,276

10-year hold

• IRR: -2.7%
• Equity multiple: 0.84×
• Total profit: $-11,256
• Equity at exit: $21,615

Cash invested: $70,000 (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 32413

• Home prices YoY: -34.4%
• Rents YoY: 0.5%
• Active inventory: 1249
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,622 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$260 /mo · $3,120/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$551
• Net cashflow: $396

Break-even live

Break-even rent $2,121

Max offer price $250,000

Occupancy floor 80%

Sensitivity live

Price	-10% $538	-5% $467	+0% $396	+5% $325	+10% $255
Rent	-10% $189	-5% $293	+0% $396	+5% $500	+10% $603
Rate	-1.0pp $522	-0.5pp $460	base $396	+0.5pp $331	+1.0pp $266

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17751 Panama City Beach Pkwy Unit 1523371P Panama City Beach, FL	2.0	2.0	1097	$3,862	$3.52	21d	1	0.12mi
17614 Front Beach Rd Unit 16D Panama City Beach, FL	2.0	1.0	748	$1,600	$2.14	21d	1	0.12mi
17751 Panama City Beach Pkwy Unit 2E Panama City Beach, FL	2.0	2.0	1100	$2,600	$2.36	21d	1	0.14mi
17735 Front Beach Rd Unit 1447171P Panama City Beach, FL	3.0	2.0	1227	$4,925	$4.01	21d	1	0.23mi
17729 Front Beach Rd Unit 1355005P Panama City Beach, FL	1.0	2.0	882	$2,038	$2.31	14d	1	0.25mi
17545 Front Beach Rd Unit 1523333P Panama City, FL	2.0	2.0	1140	$6,472	$5.68	14d	1	0.36mi
17462 Front Beach Rd Unit 1 Panama City Beach, FL	1.0	1.0	900	$1,950	$2.17	21d	1	0.44mi
127 Heather Dr Panama City Beach, FL	3.0	2.0	1297	$2,350	$1.81	14d	1	0.82mi
17225 Panama City Beach Pkwy Panama City Beach, FL	1.0–2.0	1.0–2.0	981	$1,719	$1.75	14d	10	0.96mi
102 Cabana Cay Cir Panama City Beach, FL	1.0–2.0	1.0–2.0	950	$2,143	$2.26	14d	26	1.03mi
17155 Front Beach Rd Unit 1354915P Panama City Beach, FL	2.0	2.0	1194	$2,498	$2.09	21d	1	1.16mi
19610 Alta Vista Dr Panama City Beach, FL	2.0	1.0	1000	$1,400	$1.40	14d	1	1.22mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-05-05
   status Pending
2. 2026-03-31
   price $250,000
3. 2026-03-16
   price $260,000
4. 2025-11-29
   price $270,000
5. 2025-10-30
   price $283,900
6. 2025-10-01
   price $288,900
7. 2025-05-16
   price $299,900
8. 2025-04-29
   listed $304,000 Active
9. 2021-12-14
   historical
10. 2021-12-09
    historical
11. 2021-12-09
    historical
12. 2008-12-31
    soldstatus $135,000
13. 2008-12-31
    soldstatus $130,000
14. 2008-07-08
    listed $139,900
15. 2007-08-27
    listed $185,000
16. 2007-02-26
    listed $185,000
17. 2002-10-21
    soldstatus $84,000
18. 2002-10-18
    soldstatus $84,000
19. 2002-07-10
    listed $86,900
20. 2002-02-06
    listed $89,900
21. 2001-01-10
    soldstatus $65,000
22. 2000-12-27
    soldstatus $65,000
23. 2000-05-26
    listed $68,900
24. 1992-05-01
    soldstatus $45,000
25. 1990-04-01
    soldstatus $60,000

ⓘ 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: $3,120 · $260/mo
• Projected year-2 tax: $3,120 · $260/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 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: $31,465
• − Mortgage interest: −$14,004
• − Property taxes: −$3,120
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,517
• − Management: −$2,517
• − Depreciation: −$7,273
• Taxable income: $784
• Est. tax owed @ 24.0%: −$188
• After-tax cash flow: $4,567/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

• Census place: Panama City Beach, FL
• 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

+316.7% since first listed

25 events — show timeline

• 2026-05-05 Pending — CPARMLS
• 2026-03-31 Price Changed $250,000 CPARMLS
• 2026-03-16 Price Changed $260,000 CPARMLS
• 2025-11-29 Price Changed $270,000 CPARMLS
• 2025-10-30 Price Changed $283,900 CPARMLS
• 2025-10-01 Price Changed $288,900 CPARMLS
• 2025-05-16 Price Changed $299,900 CPARMLS
• 2025-04-29 Listed $304,000 CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2021-12-09 Listing Removed — CPARMLS
• 2021-12-09 Listing Removed — CPARMLS
• 2008-12-31 Sold (Public Records) $130,000 Public Records
• 2008-12-31 Sold (MLS) $135,000 CPARMLS
• 2008-07-08 Listed $139,900 CPARMLS
• 2007-08-27 Listed $185,000 CPARMLS
• 2007-02-26 Listed $185,000 CPARMLS
• 2002-10-21 Sold (Public Records) $84,000 Public Records
• 2002-10-18 Sold (MLS) $84,000 CPARMLS
• 2002-07-10 Listed $86,900 CPARMLS
• 2002-02-06 Listed $89,900 CPARMLS
• 2001-01-10 Sold (Public Records) $65,000 Public Records
• 2000-12-27 Sold (MLS) $65,000 CPARMLS
• 2000-05-26 Listed $68,900 CPARMLS
• 1992-05-01 Sold (Public Records) $45,000 Public Records
• 1990-04-01 Sold (Public Records) $60,000 Public Records

Property tax history

+10.6%/yr

Latest (2025): $3,120 · +5.9% YoY. Source: county tax records.