2141 W 29th Ct · Panama City, FL 32405

$60,000

2 bd · 1.0 ba · 752 sqft · Manufactured public records · 99 Days on market

Built 1976 3,049 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

2 bedroom, 1 bath single-wide mobile home located in the center of town just off Frankford Avenue between Kings Point and SweetBay. This location puts you close to everyday conveniences with quick access to grocery stores, shopping, schools, and medical facilities throughout Panama City. Just minutes from downtown Panama City and a short drive across the Hathaway Bridge to Panama City Beach, making it easy to enjoy both the bay and the beach. This property could make a practical option for someone looking for affordable housing, a rental investment, or a simple place to live without being far from town. Convenient location and easy access to major roads, center of PC.

Key facts

• Close to schools
• Close to shopping
• 3,049 sq ft lot

Tags

• QUICK ACCESS TO GROCERY STORES
• CLOSE TO SHOPPING
• CLOSE TO SCHOOLS
• CLOSE TO MEDICAL FACILITIES
• MINUTES FROM DOWNTOWN
• EASY ACCESS TO MAJOR ROADS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $916 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $55k (9.0% below list) — sets the bar for market timing.
• Cap rate 24.6% 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; 5 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 $415 of loan paydown is wiped out by about $2k 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 + 1.2% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $54,600 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 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 1976 — 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: 2.67% ✓
• Cap rate: 24.61%
• Cash-on-cash: 65.41%
• DSCR: 3.91
• GRM: 3.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.24% rent growth · sell at horizon

5-year hold

• IRR: 62.7%
• Equity multiple: 3.73×
• Total profit: $45,795
• Equity at exit: $8,946

10-year hold

• IRR: 66.6%
• Equity multiple: 7.18×
• Total profit: $103,859
• Equity at exit: $5,188

Cash invested: $16,800 (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: 3.1×

Monthly cashflow live

• Estimated rent: $1,605 high
• Mortgage (P&I): −$315
• Tax from tax record: −$12 /mo · $150/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $916

Break-even live

Break-even rent $446

Max offer price $60,000

Occupancy floor 38%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3625 Frankford Ave Panama City, FL	1.0–3.0	1.0–2.0	943	$1,592	$1.69	13d	29	0.81mi
3100 Sweetbay Ave Panama City, FL	1.0–3.0	1.0–2.0	957	$1,799	$1.88	13d	26	1.00mi
1804 Arthur Ave Panama City, FL	3.0	1.5	1044	$1,795	$1.72	21d	1	1.35mi
3722 Burnham Way Panama City, FL	3.0	2.0	1040	$1,600	$1.54	21d	1	1.45mi
4105 W 22nd St Unit 4105 Panama City, FL	3.0	2.0	1000	$1,395	$1.40	21d	1	1.47mi

Listing history 21 events

1. 2026-06-19
   days on market $60,000 Active 99 DOM
2. 2026-06-18
   days on market $60,000 Active 98 DOM
3. 2026-06-17
   days on market $60,000 Active 97 DOM
4. 2026-06-16
   days on market $60,000 Active 96 DOM
5. 2026-06-15
   days on market $60,000 Active 95 DOM
6. 2026-06-14
   days on market $60,000 Active 93 DOM
7. 2026-06-13
   days on market $60,000 Active 92 DOM
8. 2026-06-10
   days on market $60,000 Active 90 DOM
9. 2026-06-09
   days on market $60,000 Active 89 DOM
10. 2026-06-09
    remarks 699-char remark
11. 2026-06-09
    price $60,000 Active 88 DOM
12. 2026-06-08
    days on market $75,000 Active 88 DOM
13. 2026-06-07
    days on market $75,000 Active 87 DOM
14. 2026-06-05
    days on market $75,000 Active 84 DOM
15. 2026-06-03
    days on market $75,000 Active 83 DOM
16. 2026-06-02
    days on market $75,000 Active 82 DOM
17. 2026-06-01
    days on market $75,000 Active 81 DOM
18. 2026-05-31
    days on market $75,000 Active 80 DOM
19. 2026-05-30
    days on market $75,000 Active 79 DOM
20. 2026-03-12
    listed $75,000 Active 676-char remark

    Show marketing remark (676 chars)

    2 bedroom, 1 bath single-wide mobile home located in the center of town just off Frankford Avenue between Kings Point and SweetBay. This location puts you close to everyday conveniences with quick access to grocery stores, shopping, schools, and medical facilities throughout Panama City. Just minutes from downtown Panama City and a short drive across the Hathaway Bridge to Panama City Beach, making it easy to enjoy both the bay and the beach. This property could make a practical option for someone looking for affordable housing, a rental investment, or a simple place to live without being far from town. Convenient location and easy access to major roads, center of PC.

21. 2026-03-10
    listed $75,000 Active 676-char remark

    Show marketing remark (676 chars)

    2 bedroom, 1 bath single-wide mobile home located in the center of town just off Frankford Avenue between Kings Point and SweetBay. This location puts you close to everyday conveniences with quick access to grocery stores, shopping, schools, and medical facilities throughout Panama City. Just minutes from downtown Panama City and a short drive across the Hathaway Bridge to Panama City Beach, making it easy to enjoy both the bay and the beach. This property could make a practical option for someone looking for affordable housing, a rental investment, or a simple place to live without being far from town. Convenient location and easy access to major roads, center of PC.

ⓘ 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: $150 · $12/mo
• Projected year-2 tax: $498 · $42/mo
• Expected delta: +$348/yr (+$29/mo · 232.0%)

ⓘ 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) · 23% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $19,259
• − Mortgage interest: −$3,361
• − Property taxes: −$150
• − Insurance: −$300
• − Repairs & maintenance: −$1,541
• − Management: −$1,541
• − Depreciation: −$1,745
• Taxable income: $10,621
• Est. tax owed @ 24.0%: −$2,549
• After-tax cash flow: $8,440/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

+0.0% since first listed

2 events — show timeline

• 2026-03-12 Listed $75,000 ECAR
• 2026-03-10 Listed $75,000 CPARMLS

Property tax history

-6.2%/yr

Latest (2025): $150 · +0.0% YoY. Source: county tax records.