726 Mulberry Ave · Panama City, FL 32401

$99,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 1 Days on market

Built 1935 7,405 sqft lot Est $190k · 48% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

ATTENTION INVESTORS, LANDLORDS, or REHABBERS!! Check out this 3 bedroom, 1 bath home just a short walk from Historic Downtown Panama City Florida and famous Beach Drive. This home has withstood the test of time and with a lttle bit of work and imagination the possibilities are endless. The ''bones'' of the home are solid and it had a new roof and some attention after 2018. It would not take alot to make this THE downtown cottage! Call your favorite Realtor today.

Key facts

• 7,405 sq ft lot
• Built 1935

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Utilities: Public sewer
• Home design: Single-family residence zoning; City street frontage
• Construction: Wood siding with wood frame construction; Asphalt roof
• Exterior features: Covered porch; Paved lot

Interior

• Bedrooms: Three bedrooms (all on the first level) — approx. 10 x 10, 10 x 11, and 12 x 12
• Bathrooms: 1 full bathroom
• Interior features: Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $717 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Cap rate 15.0% 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 flat; 258 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
• This rent runs 40% of the median local income ($53k/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 $684 of loan paydown is wiped out by about $3k 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 + 0.5% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1935 — 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 $99,000

Questions for the listing agent

1. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.76% ✓
• Cap rate: 14.98%
• Cash-on-cash: 31.02%
• DSCR: 2.38
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $190,000
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
808 Premier Dr	0.13mi	2/2.0 (-1)	1,042 (+4%)	15mo	$161,000	$155	65
819 Grace Ave	0.22mi	2/1.0 (-1)	962 (-4%)	20mo	$210,000	$218	62
832 Premier Dr	0.16mi	2/2.0 (-1)	1,042 (+4%)	21mo	$198,000	$190	59
1209 Florida Ave	0.68mi	3/1.0	1,081 (+8%)	18mo	$185,000	$171	40

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 · 0.45% rent growth · sell at horizon

5-year hold

• IRR: 22.9%
• Equity multiple: 1.91×
• Total profit: $25,252
• Equity at exit: $14,761

10-year hold

• IRR: 29.2%
• Equity multiple: 3.30×
• Total profit: $63,803
• Equity at exit: $8,560

Cash invested: $27,720 (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 32401

• Home prices YoY: -32.9%
• Rents YoY: 0.5%
• Active inventory: 258
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,743 high
• Mortgage (P&I): −$519
• Tax from tax record: −$100 /mo · $1,203/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $717

Break-even live

Break-even rent $836

Max offer price $99,000

Occupancy floor 54%

Sensitivity live

Price	-10% $773	-5% $745	+0% $717	+5% $689	+10% $661
Rent	-10% $579	-5% $648	+0% $717	+5% $786	+10% $854
Rate	-1.0pp $767	-0.5pp $742	base $717	+0.5pp $691	+1.0pp $665

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1114 Mc Kenzie Ave Unit 1 Panama City, FL	2.0	1.0	880	$1,850	$2.10	21d	1	0.68mi
388 Massalina Dr Panama City, FL	2.0	2.0	800	$1,800	$2.25	13d	1	0.78mi
540 E 4th Ct Panama City, FL	2.0	2.0	1196	$1,800	$1.51	21d	1	0.80mi
265 15th St Panama City, FL	1.0–3.0	1.0–2.0	967	$1,462	$1.51	13d	4	0.85mi
606 E 13th St Unit 1 Panama City, FL	2.0	1.0	700	$1,250	$1.79	21d	1	1.01mi
1525 Oak Ave Panama City, FL	3.0	1.5	1280	$2,200	$1.72	21d	1	1.03mi
329 N Palo Alto Ave Panama City, FL	3.0	2.0	1300	$1,950	$1.50	13d	1	1.16mi
603 E 2nd St Panama City, FL	2.0	1.0	900	$1,300	$1.44	21d	1	1.24mi
316 Cherry St #24 Panama City, FL	2.0	2.0	860	$1,800	$2.09	13d	1	1.28mi
300 Mercedes Ave Unit 1523335P Panama City, FL	3.0	2.0	1194	$3,807	$3.19	21d	1	1.37mi
901 W 19th St Panama City, FL	1.0–2.0	1.0–2.0	787	$1,168	$1.48	21d	5	1.42mi
723 W 19th St Panama City, FL	2.0	2.0	1170	$1,520	$1.30	21d	15	1.44mi
1827 Balboa Ave Panama City, FL	3.0	2.5	1440	$1,800	$1.25	13d	1	1.44mi
400 E 19th St Unit A1 Panama City, FL	2.0	2.0	785	$1,095	$1.39	13d	1	1.48mi

Listing history 2 events

1. 2026-06-13
   remarks 472-char remark
2. 2026-06-13
   listed $99,000 Pending 1 DOM

ⓘ 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: $1,203 · $100/mo
• Projected year-2 tax: $1,203 · $100/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 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: $20,921
• − Mortgage interest: −$5,546
• − Property taxes: −$1,203
• − Insurance: −$495
• − Repairs & maintenance: −$1,674
• − Management: −$1,674
• − Depreciation: −$2,880
• Taxable income: $7,450
• Est. tax owed @ 24.0%: −$1,788
• After-tax cash flow: $6,812/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): 18,947
• Household income: $52,523
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 935.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 23% Hispanic / Latino 11% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% German/W. Germanic 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: ▼ -142.12%
• Current HPI: 290.3312
• Rent YoY: ▲ 0.45%
• 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

2 events — show timeline

• 2026-06-11 Pending — CPARMLS
• 2026-06-10 Listed $99,000 CPARMLS

Property tax history

+11.2%/yr

Latest (2025): $1,203 · +7.7% YoY. Source: county tax records.