7125 N Lagoon Dr Unit O · Upper Grand Lagoon, FL 32408

$225,000

2 bd · 2.0 ba · 1,200 sqft · Condo · 1 Days on market

Built 1986 Good condition

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Why this score? — see what drove the D 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 +11.8/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• DSCR +3.5/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Rent growth +3.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CURRENTLY UNDER CONTRACT, SELLER ACCEPTING BACKUP OFFERS This is a great investment opportunity at a quaint beach condo. This 2nd level split bedroom home overlooks a green space and beautifully landscaped courtyard. The sliding glass doors offer a tremendous amount of natural lighting. This home has a mold report on file. This home is ready for your decorator touches and TLC. Call today for your opportunity to live on the beach.

Key facts

• Community pool
• Built 1986

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $225k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-60 ($-725/yr) — negative.
• To cash-flow at today's rent, offer at most $216k (3.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (15.9% below list).
• Recommended offer: $189k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.2% in Upper Grand Lagoon — 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 67/100 on livability (#583 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living B+; Watch: schools D, 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 (+2.5%/yr); 1022 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 26y ago; this cycle's ask has dropped $35k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $185k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $189,175 (15.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.84% ✗
• Cap rate: 5.97%
• Cash-on-cash: -1.15%
• DSCR: 0.95
• GRM: 9.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.55% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.35×
• Total profit: $-41,133
• Equity at exit: $33,548

10-year hold

• IRR: -12.0%
• Equity multiple: 0.30×
• Total profit: $-44,127
• Equity at exit: $19,454

Cash invested: $63,000 (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 32408

• Rents YoY: 2.5%
• Active inventory: 1022
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,892 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $-60

Break-even live

Break-even rent $1,968

Max offer price $216,254

Occupancy floor 98%

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7125 N Lagoon Dr Panama City, FL	2.0	2.5	1250	$2,000	$1.60	21d	1	0.02mi
7813 N Lagoon Dr Panama City, FL	2.0	2.0	1060	$1,900	$1.79	21d	1	0.23mi
447 Water Oak Cir Panama City, FL	2.0	2.0	980	$1,800	$1.84	21d	1	0.28mi
6427 Sunset Ave Unit 2 Panama City, FL	2.0	1.0	900	$1,225	$1.36	21d	1	0.51mi
2103 Bent Oak Ct Panama City, FL	3.0	2.0	1000	$1,800	$1.80	21d	1	0.54mi
2340 Grand Oaks Ln Unit 1523381P Panama City Beach, FL	2.0	1.0	1001	$4,240	$4.24	13d	1	0.55mi
7205 Thomas Dr Unit 1354970P Panama City Beach, FL	2.0	2.0	1044	$3,227	$3.09	21d	1	0.56mi
7405A Beach Dr Unit 1355031P Panama City Beach, FL	2.0	2.0	1291	$2,124	$1.65	21d	1	0.59mi
2617 Cypress St Panama City, FL	1.0	1.0	720	$1,300	$1.81	21d	1	0.73mi
2519 Beech St Panama City, FL	2.0	1.5	1200	$1,595	$1.33	21d	1	0.76mi
5931 Pinetree Ave Panama City, FL	2.0	1.0	900	$1,600	$1.78	21d	1	0.84mi
6219 Poinciana Dr Panama City, FL	2.0	2.0	1214	$2,350	$1.94	21d	1	0.88mi
5710 Sunset Ave Unit 1523314P Panama City Beach, FL	2.0	2.0	1087	$8,246	$7.59	21d	1	1.06mi
5409 Hilltop Ave Panama City, FL	2.0	1.0	800	$1,300	$1.62	21d	1	1.29mi
8730 Thomas Dr Unit 1355041P Panama City Beach, FL	1.0	1.0	839	$1,373	$1.64	21d	1	1.42mi
5230 Beach Dr Unit D Panama City, FL	1.0	1.0	900	$1,200	$1.33	21d	1	1.43mi
5230 Beach Dr Unit A Panama City, FL	1.0	1.0	900	$1,250	$1.39	21d	1	1.43mi
2526 Laurie Ave Panama City, FL	2.0	2.0	950	$1,750	$1.84	13d	1	1.47mi
8715 Surf Dr Unit 1523323P Panama City Beach, FL	2.0	2.0	1194	$5,377	$4.50	13d	1	1.49mi

HOA detail condo

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

Listing history 15 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   pricestatusdays on marketlisting id $225,000 Active 1 DOM
3. 2026-05-17
   historical
4. 2025-11-17
   status Active
5. 2025-11-16
   historical
6. 2025-11-04
   price $229,900
7. 2025-08-29
   price $249,900
8. 2025-05-16
   listed $259,900 Active
9. 2022-04-29
   soldstatus $185,000 Closed 433-char remark

   Show marketing remark (433 chars)

   CURRENTLY UNDER CONTRACT, SELLER ACCEPTING BACKUP OFFERS This is a great investment opportunity at a quaint beach condo. This 2nd level split bedroom home overlooks a green space and beautifully landscaped courtyard. The sliding glass doors offer a tremendous amount of natural lighting. This home has a mold report on file. This home is ready for your decorator touches and TLC. Call today for your opportunity to live on the beach.

10. 2022-03-28
    status Pending 433-char remark

    Show marketing remark (433 chars)

    CURRENTLY UNDER CONTRACT, SELLER ACCEPTING BACKUP OFFERS This is a great investment opportunity at a quaint beach condo. This 2nd level split bedroom home overlooks a green space and beautifully landscaped courtyard. The sliding glass doors offer a tremendous amount of natural lighting. This home has a mold report on file. This home is ready for your decorator touches and TLC. Call today for your opportunity to live on the beach.

11. 2022-03-23
    listed $185,000 Active 433-char remark

    Show marketing remark (433 chars)

    CURRENTLY UNDER CONTRACT, SELLER ACCEPTING BACKUP OFFERS This is a great investment opportunity at a quaint beach condo. This 2nd level split bedroom home overlooks a green space and beautifully landscaped courtyard. The sliding glass doors offer a tremendous amount of natural lighting. This home has a mold report on file. This home is ready for your decorator touches and TLC. Call today for your opportunity to live on the beach.

12. 2021-12-14
    historical
13. 2001-11-09
    soldstatus $59,000
14. 2000-11-27
    listed $59,000
15. 2000-06-07
    listed $64,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $22,701
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,816
• − Management: −$1,816
• − Depreciation: −$6,545
• Taxable loss: −$4,580
• Est. tax savings @ 24.0%: +$1,099
• After-tax cash flow: $374/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.

Condition & rehab AI · 13 photos

Good 80/100 Cosmetic rehab

This remodeled 2BR/2BA condo is move-in ready with modern finishes and a spacious floorplan, perfect for families or investors.

Value-add opportunities

• Both landscaping — improves curb appeal and enhances property value
• Both furniture — adds comfort and functionality to the living spaces

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — improves curb appeal and enhances property value ↑
• Both furniture — adds comfort and functionality to the living spaces ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Upper Grand Lagoon

• Score: 67/100
• State rank: #583
• US rank: #11085

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Upper Grand Lagoon, FL
• County: Bay County · 163,593 people
• City population: 18,326
• Metro: Panama City, FL
• Population (ZIP): 18,832
• Household income: $80,822
• Rent vs Own: 37.0% rent · 63.0% own
• Severe rent burden: 817.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 7% Two or more races 6% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 4% Lithuanian 4% Italian 2%
• Foreign-born: 11% · Canada, South Korea
• Languages at home: 88% English-only · Spanish 5% Russian/Polish/Slavic 4% Tagalog/Filipino 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: ▼ -202.52%
• Current HPI: 246.9126
• Rent YoY: ▲ 2.55%
• 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

+259.2% since first listed

13 events — show timeline

• 2026-05-17 Listing Removed — CPARMLS
• 2025-11-17 Relisted — CPARMLS
• 2025-11-16 Listing Removed — CPARMLS
• 2025-11-04 Price Changed $229,900 CPARMLS
• 2025-08-29 Price Changed $249,900 CPARMLS
• 2025-05-16 Listed $259,900 CPARMLS
• 2022-04-29 Sold (MLS) $185,000 CPARMLS
• 2022-03-28 Pending — CPARMLS
• 2022-03-23 Listed $185,000 CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2001-11-09 Sold (MLS) $59,000 CPARMLS
• 2000-11-27 Listed $59,000 CPARMLS
• 2000-06-07 Listed $64,000 CPARMLS