1118 Michigan Ave · Lynn Haven, FL 32444

$149,900

3 bd · 2.0 ba · 1,336 sqft · SingleFamily public records · 95 Days on market

Built 1955 0.34 ac lot $112/sqft · 46% below area Est $277k · 46% under ↓ 11% since listing

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Why this score? — see what drove the B+ 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.2/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CASH OR HARD MONEY ONLY | BEST FLIP INVESTMENT OPPORTUNITY IN LYNN HAVEN! Due to the home's current condition, traditional financing will not be considered. Property is being sold strictly AS-IS; seller will make no repairs or concessions. Recently reduced to $169,000, this property is priced aggressively for a quick sale and offers excellent potential for investors or buyers seeking a value-add opportunity. Located in a desirable golf-cart-friendly Lynn Haven neighborhood, this property sits on a 0.34-acre corner lot, providing strong upside for renovation or redevelopment. The existing 1,336 sq ft, 3BR/2BA home (1955) offers a solid footprint ready for transformation. Whether renovating or building new, the lot size and location make this a standout opportunity. Convenient to North Bay, Deer Point Lake boat ramps, parks, Panama Country Club, and just 20 minutes to the Gulf beaches. Property condition may limit financing and certain inspections. A full inspection report is available upon request for serious buyers. Showings by appointment only; do not disturb occupants. Buyer to conduct all due diligence and verify all information. Measurements approximate.

Key facts

• 0.34 acre lot
• Parking
• Built 1955

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $525 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 3.5% in Lynn Haven — 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 81/100 on livability (#96 in FL, #1,472 nationally) — a professional / high-income tenant draw. 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 rising (+2.5%/yr); 196 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 $4k 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.
• At projected returns (-3.0% appreciation + 2.5% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — 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 $136,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. 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 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: 1.22% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.01%
• DSCR: 1.67
• GRM: 6.8

CMA / ARV

• ARV (median comp): $276,800
• List price: $149,900
• Delta: -45.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1209 Georgia Ave	0.32mi	3/2.0	1,331 (-0%)	14mo	$303,000	$228	73
411 E 9th St	0.32mi	3/2.0	1,356 (+2%)	15mo	$316,000	$233	70
911 New York Ave	0.33mi	3/2.0	1,378 (+3%)	13mo	$248,600	$180	69
504 E Pine Forest Dr	0.71mi	3/2.0	1,320 (-1%)	2mo	$265,000	$201	63
201 E 8th St	0.37mi	3/2.0	1,274 (-5%)	15mo	$280,000	$220	62
1010 Wyoming Ave	0.70mi	3/2.0	1,330 (-0%)	21mo	$243,000	$183	49
703 Michigan Ave	0.46mi	2/2.0 (-1)	1,203 (-10%)	12mo	$140,000	$116	47
808 Tennessee Ave	0.65mi	3/2.0	1,232 (-8%)	13mo	$276,500	$224	46
402 E 19th St	0.66mi	3/2.0	1,416 (+6%)	20mo	$304,900	$215	43
1308 Carolina Ave	0.70mi	3/1.0	1,420 (+6%)	18mo	$235,000	$165	37
520 Pennsylvania Ave	0.60mi	3/2.0	1,504 (+13%)	20mo	$309,900	$206	34
1802 Minnesota Ave	0.65mi	4/2.0 (+1)	1,473 (+10%)	19mo	$273,500	$186	32

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 · 2.52% rent growth · sell at horizon

5-year hold

• IRR: 5.1%
• Equity multiple: 1.20×
• Total profit: $8,221
• Equity at exit: $22,351

10-year hold

• IRR: 14.1%
• Equity multiple: 2.11×
• Total profit: $46,461
• Equity at exit: $12,961

Cash invested: $41,972 (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 32444

• Home prices YoY: -29.1%
• Rents YoY: 2.5%
• Active inventory: 196
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,835 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$76 /mo · $913/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $525

Break-even live

Break-even rent $1,170

Max offer price $149,900

Occupancy floor 66%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1307 Pennsylvania Ave Unit 1 Lynn Haven, FL	3.0	1.0	1256	$1,500	$1.19	13d	1	0.17mi
2305 Minnesota Ave Lynn Haven, FL	4.0	2.0	1692	$1,950	$1.15	13d	1	1.20mi
1713 Jakes Dr Panama City, FL	3.0	2.5	1576	$2,250	$1.43	21d	1	1.44mi

Listing history 21 events

1. 2026-06-18
   days on market $149,900 Active 95 DOM
2. 2026-06-17
   days on market $149,900 Active 94 DOM
3. 2026-06-16
   days on market $149,900 Active 93 DOM
4. 2026-06-15
   days on market $149,900 Active 92 DOM
5. 2026-06-14
   days on market $149,900 Active 90 DOM
6. 2026-06-13
   days on market $149,900 Active 89 DOM
7. 2026-06-10
   pricedays on market $149,900 Active 87 DOM
8. 2026-06-09
   days on market $150,000 Active 86 DOM
9. 2026-06-08
   days on market $150,000 Active 85 DOM
10. 2026-06-07
    days on market $150,000 Active 84 DOM
11. 2026-06-05
    days on market $150,000 Active 81 DOM
12. 2026-06-03
    days on market $150,000 Active 80 DOM
13. 2026-06-03
    price $150,000 Active 79 DOM
14. 2026-06-02
    days on market $169,000 Active 79 DOM
15. 2026-06-01
    days on market $169,000 Active 78 DOM
16. 2026-05-31
    days on market $169,000 Active 77 DOM
17. 2026-05-30
    days on market $169,000 Active 76 DOM
18. 2026-04-13
    price $169,000 1176-char remark

    Show marketing remark (1176 chars)

    CASH OR HARD MONEY ONLY | BEST FLIP INVESTMENT OPPORTUNITY IN LYNN HAVEN! Due to the home's current condition, traditional financing will not be considered. Property is being sold strictly AS-IS; seller will make no repairs or concessions. Recently reduced to $169,000, this property is priced aggressively for a quick sale and offers excellent potential for investors or buyers seeking a value-add opportunity. Located in a desirable golf-cart-friendly Lynn Haven neighborhood, this property sits on a 0.34-acre corner lot, providing strong upside for renovation or redevelopment. The existing 1,336 sq ft, 3BR/2BA home (1955) offers a solid footprint ready for transformation. Whether renovating or building new, the lot size and location make this a standout opportunity. Convenient to North Bay, Deer Point Lake boat ramps, parks, Panama Country Club, and just 20 minutes to the Gulf beaches. Property condition may limit financing and certain inspections. A full inspection report is available upon request for serious buyers. Showings by appointment only; do not disturb occupants. Buyer to conduct all due diligence and verify all information. Measurements approximate.

19. 2026-04-01
    price $169,900 1176-char remark

    Show marketing remark (1176 chars)

    CASH OR HARD MONEY ONLY | BEST FLIP INVESTMENT OPPORTUNITY IN LYNN HAVEN! Due to the home's current condition, traditional financing will not be considered. Property is being sold strictly AS-IS; seller will make no repairs or concessions. Recently reduced to $169,000, this property is priced aggressively for a quick sale and offers excellent potential for investors or buyers seeking a value-add opportunity. Located in a desirable golf-cart-friendly Lynn Haven neighborhood, this property sits on a 0.34-acre corner lot, providing strong upside for renovation or redevelopment. The existing 1,336 sq ft, 3BR/2BA home (1955) offers a solid footprint ready for transformation. Whether renovating or building new, the lot size and location make this a standout opportunity. Convenient to North Bay, Deer Point Lake boat ramps, parks, Panama Country Club, and just 20 minutes to the Gulf beaches. Property condition may limit financing and certain inspections. A full inspection report is available upon request for serious buyers. Showings by appointment only; do not disturb occupants. Buyer to conduct all due diligence and verify all information. Measurements approximate.

20. 2026-03-19
    price $185,000 1176-char remark

    Show marketing remark (1176 chars)

    CASH OR HARD MONEY ONLY | BEST FLIP INVESTMENT OPPORTUNITY IN LYNN HAVEN! Due to the home's current condition, traditional financing will not be considered. Property is being sold strictly AS-IS; seller will make no repairs or concessions. Recently reduced to $169,000, this property is priced aggressively for a quick sale and offers excellent potential for investors or buyers seeking a value-add opportunity. Located in a desirable golf-cart-friendly Lynn Haven neighborhood, this property sits on a 0.34-acre corner lot, providing strong upside for renovation or redevelopment. The existing 1,336 sq ft, 3BR/2BA home (1955) offers a solid footprint ready for transformation. Whether renovating or building new, the lot size and location make this a standout opportunity. Convenient to North Bay, Deer Point Lake boat ramps, parks, Panama Country Club, and just 20 minutes to the Gulf beaches. Property condition may limit financing and certain inspections. A full inspection report is available upon request for serious buyers. Showings by appointment only; do not disturb occupants. Buyer to conduct all due diligence and verify all information. Measurements approximate.

21. 2026-03-15
    listed $189,000 Active 1176-char remark

    Show marketing remark (1176 chars)

    CASH OR HARD MONEY ONLY | BEST FLIP INVESTMENT OPPORTUNITY IN LYNN HAVEN! Due to the home's current condition, traditional financing will not be considered. Property is being sold strictly AS-IS; seller will make no repairs or concessions. Recently reduced to $169,000, this property is priced aggressively for a quick sale and offers excellent potential for investors or buyers seeking a value-add opportunity. Located in a desirable golf-cart-friendly Lynn Haven neighborhood, this property sits on a 0.34-acre corner lot, providing strong upside for renovation or redevelopment. The existing 1,336 sq ft, 3BR/2BA home (1955) offers a solid footprint ready for transformation. Whether renovating or building new, the lot size and location make this a standout opportunity. Convenient to North Bay, Deer Point Lake boat ramps, parks, Panama Country Club, and just 20 minutes to the Gulf beaches. Property condition may limit financing and certain inspections. A full inspection report is available upon request for serious buyers. Showings by appointment only; do not disturb occupants. Buyer to conduct all due diligence and verify all information. Measurements approximate.

ⓘ 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: $913 · $76/mo
• Projected year-2 tax: $1,244 · $104/mo
• Expected delta: +$331/yr (+$28/mo · 36.3%)

ⓘ 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) · 13% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $22,019
• − Mortgage interest: −$8,397
• − Property taxes: −$913
• − Insurance: −$750
• − Repairs & maintenance: −$1,762
• − Management: −$1,762
• − Depreciation: −$4,361
• Taxable income: $4,076
• Est. tax owed @ 24.0%: −$978
• After-tax cash flow: $5,321/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 — Lynn Haven

• Score: 81/100
• State rank: #96
• US rank: #1472

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lynn Haven, FL
• County: Bay County · 163,593 people
• City population: 21,459
• Metro: Panama City, FL
• Population (ZIP): 21,459
• Household income: $83,160
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 430.0

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 (75%)
• Race & ethnicity: White 75% Two or more races 11% Hispanic / Latino 10% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 3% Romanian 3% Serbian 2%
• Foreign-born: 10% · Canada, Vietnam, South Korea
• Languages at home: 87% English-only · Spanish 8% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -108.08%
• Current HPI: 263.5418
• Rent YoY: ▲ 2.52%
• 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

-10.6% since first listed

4 events — show timeline

• 2026-04-13 Price Changed $169,000 CPARMLS
• 2026-04-01 Price Changed $169,900 CPARMLS
• 2026-03-19 Price Changed $185,000 CPARMLS
• 2026-03-15 Listed $189,000 CPARMLS

Property tax history

+15.6%/yr

Latest (2025): $913 · +5.7% YoY. Source: county tax records.