1532 Nassau St · Lynn Haven, FL 32409

$173,000

2 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 81 Days on market

Built 2018 10,019 sqft lot $133/sqft · 9% above area Est $159k · 9% over

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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 +24.3/30.0
• Appreciation +9.5/10.0
• DSCR +7.8/10.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• ARV discount +3.4/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Fully updated 3-bedroom, 2-bath home in Southport offering modern finishes and move-in ready convenience. Enjoy an open-concept layout with new flooring, fresh paint, and abundant natural light throughout. The kitchen features updated cabinetry, stylish backsplash, and ample counter space, flowing seamlessly into the main living area, perfect for entertaining. Spacious bedrooms and refreshed bathrooms provide comfort and functionality. Situated on a large lot with plenty of outdoor space and easy access to Panama City amenities, schools, and Hwy 77. Ideal for homeowners or investors seeking a turnkey property in a growing area.

Key facts

• Ample counter space
• Stylish backsplash
• Large lot

Tags

• OPEN-CONCEPT LAYOUT
• UPDATED CABINETRY
• STYLISH BACKSPLASH
• AMPLE COUNTER SPACE
• LARGE LOT
• OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $173k.

Deal economics

• At list price, monthly cash flow is $349 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $173k).
• Recommended offer: $163k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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.
• Zoned schools: Southport Elementary School (math 47% / reading 57%, grade C-, #990 of 2,144 statewide, top 48%, 506 students, 52% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: 301 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (9.1% local appreciation)).
• Bay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (9.1% appreciation + 3.0% rent growth), your $48k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $95k; list at $173k implies a 82% 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→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,620 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.03% ✓
• Cap rate: 8.71%
• Cash-on-cash: 8.64%
• DSCR: 1.38
• GRM: 8.1

CMA / ARV

• ARV (median comp): $158,641
• List price: $173,000
• Delta: 9.05%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1929 Creamer Rd	0.49mi	3/2.0 (+1)	1,216 (-6%)	11mo	$130,000	$107	52
1149 4th Cir	0.59mi	3/2.0 (+1)	1,216 (-6%)	10mo	$160,000	$132	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

9.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.8%
• Equity multiple: 3.18×
• Total profit: $105,614
• Equity at exit: $144,394

10-year hold

• IRR: 25.3%
• Equity multiple: 7.01×
• Total profit: $291,170
• Equity at exit: $299,953

Cash invested: $48,440 (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 32409

• Home prices YoY: 2.4%
• Active inventory: 301
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,785 medium
• Mortgage (P&I): −$907
• Tax from tax record: −$82 /mo · $984/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $349

Break-even live

Break-even rent $1,343

Max offer price $173,000

Occupancy floor 75%

Sensitivity live

Price	-10% $447	-5% $398	+0% $349	+5% $300	+10% $251
Rent	-10% $208	-5% $278	+0% $349	+5% $419	+10% $490
Rate	-1.0pp $436	-0.5pp $393	base $349	+0.5pp $304	+1.0pp $258

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: $43,250
• Closing costs: $5,190
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1105 13th St Panama City, FL	3.0	2.0	1350	$1,785	$1.32	22d	1	1.04mi

Listing history 25 events

1. 2026-06-21
   days on market $173,000 Active 81 DOM
2. 2026-06-19
   days on market $173,000 Active 79 DOM
3. 2026-06-18
   days on market $173,000 Active 78 DOM
4. 2026-06-17
   days on market $173,000 Active 77 DOM
5. 2026-06-16
   days on market $173,000 Active 76 DOM
6. 2026-06-15
   days on market $173,000 Active 75 DOM
7. 2026-06-14
   days on market $173,000 Active 73 DOM
8. 2026-06-13
   days on market $173,000 Active 72 DOM
9. 2026-06-10
   days on market $173,000 Active 70 DOM
10. 2026-06-09
    days on market $173,000 Active 69 DOM
11. 2026-06-08
    days on market $173,000 Active 68 DOM
12. 2026-06-07
    pricedays on market $173,000 Active 67 DOM
13. 2026-06-05
    days on market $174,900 Active 64 DOM
14. 2026-06-03
    days on market $174,900 Active 63 DOM
15. 2026-06-02
    days on market $174,900 Active 62 DOM
16. 2026-06-01
    days on market $174,900 Active 61 DOM
17. 2026-05-31
    days on market $174,900 Active 60 DOM
18. 2026-05-30
    days on market $174,900 Active 59 DOM
19. 2026-05-12
    price $175,000 635-char remark

    Show marketing remark (635 chars)

    Fully updated 3-bedroom, 2-bath home in Southport offering modern finishes and move-in ready convenience. Enjoy an open-concept layout with new flooring, fresh paint, and abundant natural light throughout. The kitchen features updated cabinetry, stylish backsplash, and ample counter space, flowing seamlessly into the main living area, perfect for entertaining. Spacious bedrooms and refreshed bathrooms provide comfort and functionality. Situated on a large lot with plenty of outdoor space and easy access to Panama City amenities, schools, and Hwy 77. Ideal for homeowners or investors seeking a turnkey property in a growing area.

20. 2026-04-24
    price $177,000 635-char remark

    Show marketing remark (635 chars)

    Fully updated 3-bedroom, 2-bath home in Southport offering modern finishes and move-in ready convenience. Enjoy an open-concept layout with new flooring, fresh paint, and abundant natural light throughout. The kitchen features updated cabinetry, stylish backsplash, and ample counter space, flowing seamlessly into the main living area, perfect for entertaining. Spacious bedrooms and refreshed bathrooms provide comfort and functionality. Situated on a large lot with plenty of outdoor space and easy access to Panama City amenities, schools, and Hwy 77. Ideal for homeowners or investors seeking a turnkey property in a growing area.

21. 2026-04-14
    price $179,000 635-char remark

    Show marketing remark (635 chars)

    Fully updated 3-bedroom, 2-bath home in Southport offering modern finishes and move-in ready convenience. Enjoy an open-concept layout with new flooring, fresh paint, and abundant natural light throughout. The kitchen features updated cabinetry, stylish backsplash, and ample counter space, flowing seamlessly into the main living area, perfect for entertaining. Spacious bedrooms and refreshed bathrooms provide comfort and functionality. Situated on a large lot with plenty of outdoor space and easy access to Panama City amenities, schools, and Hwy 77. Ideal for homeowners or investors seeking a turnkey property in a growing area.

22. 2026-04-07
    soldstatus $95,000
23. 2026-04-01
    listed $185,000 Active 635-char remark

    Show marketing remark (635 chars)

    Fully updated 3-bedroom, 2-bath home in Southport offering modern finishes and move-in ready convenience. Enjoy an open-concept layout with new flooring, fresh paint, and abundant natural light throughout. The kitchen features updated cabinetry, stylish backsplash, and ample counter space, flowing seamlessly into the main living area, perfect for entertaining. Spacious bedrooms and refreshed bathrooms provide comfort and functionality. Situated on a large lot with plenty of outdoor space and easy access to Panama City amenities, schools, and Hwy 77. Ideal for homeowners or investors seeking a turnkey property in a growing area.

24. 1999-08-01
    soldstatus $25,000
25. 1986-02-01
    soldstatus $18,000

ⓘ 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: $984 · $82/mo
• Projected year-2 tax: $1,436 · $120/mo
• Expected delta: +$452/yr (+$38/mo · 46.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 5% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $21,420
• − Mortgage interest: −$9,691
• − Property taxes: −$984
• − Insurance: −$865
• − Repairs & maintenance: −$1,714
• − Management: −$1,714
• − Depreciation: −$5,033
• Taxable income: $1,421
• Est. tax owed @ 24.0%: −$341
• After-tax cash flow: $3,845/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

• City population: 21,459
• Population (ZIP): 10,941

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 7% Two or more races 4% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Slovak 3% Serbian 2%
• Foreign-born: 4% · Canada, Jamaica, South Korea
• Languages at home: 94% English-only · Spanish 4% 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: ▲ 9.08%
• Current HPI: 391.06
• Rent YoY: —
• Metro: —
• 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

+872.2% since first listed

7 events — show timeline

• 2026-05-12 Price Changed $175,000 CPARMLS
• 2026-04-24 Price Changed $177,000 CPARMLS
• 2026-04-14 Price Changed $179,000 CPARMLS
• 2026-04-07 Sold (Public Records) $95,000 Public Records
• 2026-04-01 Listed $185,000 CPARMLS
• 1999-08-01 Sold (Public Records) $25,000 Public Records
• 1986-02-01 Sold (Public Records) $18,000 Public Records

Property tax history

+9.6%/yr

Latest (2025): $984 · +972.8% YoY. Source: county tax records.