1914 Calhoun Ave · Panama City, FL 32405

$128,340

4 bd · 2.0 ba · 1,239 sqft · SingleFamily public records · 10 Days on market

Built 1956 9,714 sqft lot Est $252k · 49% under ↓ 25% 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 +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 +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Back on the market, price adjusted for current market. Fantastic first home or investment property centrally located in the Panama City/St. Andrews area. Home is close to beaches, stores, restaurants, schools, parks and the Navy Base. House has new flooring and was freshly painted with neutral colors that will match any home décor. Extra large master bedroom that can also be used as a bonus family room. Large partially fenced in back yard with a 14X10 storage/workshop shed in back. Verify measurements if important. Contact your favorite Realtor for a showing today!!

Key facts

• Art studio
• Bonus room
• Gaming cave

Tags

• BONUS ROOM
• HOME OFFICE
• ART STUDIO
• GAMING CAVE
• CLOSE TO ST ANDREWS STATE PARK

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Utilities: Public sewer
• Home design: Single-family residential zoning
• Exterior features: Partial fencing; Paved lot; City street frontage; Publicly maintained road

Interior

• Bedrooms: Bedroom (11 x 10)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Living room; Bonus room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $596 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Cap rate 11.9% 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; 7 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).
• This rent runs 32% of the median local income ($73k/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 $887 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 + 1.2% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1956 — 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 $128,340

Questions for the listing agent

1. Built in 1956 — 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: 1.51% ✓
• Cap rate: 11.87%
• Cash-on-cash: 19.91%
• DSCR: 1.89
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $251,517
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2209 W 21st St	0.15mi	3/2.0 (-1)	1,240 (+0%)	19mo	$269,900	$218	72
1903 Chestnut Ave	0.41mi	3/2.0 (-1)	1,300 (+5%)	18mo	$180,000	$138	52
1903 Arthur Ave	0.13mi	3/1.0 (-1)	1,069 (-14%)	13mo	$185,000	$173	51
1619 Lincoln Ave	0.42mi	3/1.5 (-1)	1,143 (-8%)	13mo	$238,000	$208	50
1712 Wilmont Ave	0.42mi	3/1.0 (-1)	1,211 (-2%)	22mo	$230,000	$190	50
2008 W 23rd Ct	0.54mi	3/2.0 (-1)	1,362 (+10%)	14mo	$300,000	$220	42
1706 Calhoun Ave	0.32mi	3/1.5 (-1)	1,404 (+13%)	19mo	$225,000	$160	40
1407 Calhoun Ave	0.68mi	3/2.0 (-1)	1,405 (+13%)	10mo	$285,000	$203	33

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 · 1.24% rent growth · sell at horizon

5-year hold

• IRR: 10.0%
• Equity multiple: 1.39×
• Total profit: $13,867
• Equity at exit: $19,136

10-year hold

• IRR: 17.6%
• Equity multiple: 2.33×
• Total profit: $47,855
• Equity at exit: $11,096

Cash invested: $35,935 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,939 high
• Mortgage (P&I): −$673
• Tax from tax record: −$209 /mo · $2,505/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $596

Break-even live

Break-even rent $1,184

Max offer price $128,340

Occupancy floor 64%

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: $32,085
• Closing costs: $3,850
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1804 Arthur Ave Panama City, FL	3.0	1.5	1044	$1,795	$1.72	20d	1	0.19mi
1710 Drake Ave Panama City, FL	3.0	2.0	1130	$1,850	$1.64	20d	1	0.36mi
3722 Burnham Way Panama City, FL	3.0	2.0	1040	$1,600	$1.54	20d	1	0.95mi
2602 W 12th St Panama City, FL	3.0	2.0	1400	$2,095	$1.50	20d	1	0.98mi
1827 Balboa Ave Panama City, FL	3.0	2.5	1440	$1,800	$1.25	13d	1	1.15mi
4105 W 22nd St Unit 4105 Panama City, FL	3.0	2.0	1000	$1,395	$1.40	20d	1	1.19mi
4324 W 20th St Panama City, FL	1.0–3.0	1.0–2.5	1000	$1,630	$1.63	13d	12	1.47mi

Listing history 10 events

1. 2026-06-09
   status $128,340 Pending 10 DOM
2. 2026-06-08
   days on market $128,340 Active 10 DOM
3. 2026-06-07
   days on market $128,340 Active 9 DOM
4. 2026-06-05
   days on market $128,340 Active 6 DOM
5. 2026-06-03
   days on market $128,340 Active 5 DOM
6. 2026-06-02
   days on market $128,340 Active 4 DOM
7. 2026-06-01
   days on market $128,340 Active 3 DOM
8. 2026-05-31
   days on market $128,340 Active 2 DOM
9. 2026-05-30
   remarks 699-char remark
10. 2026-05-30
    listed $128,340 Active 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: $2,505 · $209/mo
• Projected year-2 tax: $2,505 · $209/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 ≥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: $23,264
• − Mortgage interest: −$7,189
• − Property taxes: −$2,505
• − Insurance: −$642
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − Depreciation: −$3,734
• Taxable income: $5,473
• Est. tax owed @ 24.0%: −$1,313
• After-tax cash flow: $5,842/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

-24.5% since first listed

10 events — show timeline

• 2026-05-29 Listed $128,340 CPARMLS
• 2022-08-18 Sold (Public Records) $160,000 Public Records
• 2022-08-18 Sold (MLS) $160,000 CPARMLS
• 2022-07-26 Pending — CPARMLS
• 2022-07-23 Relisted — CPARMLS
• 2022-07-23 Price Changed $160,000 CPARMLS
• 2022-06-16 Pending — CPARMLS
• 2022-06-13 Relisted — CPARMLS
• 2022-06-11 Pending — CPARMLS
• 2022-06-08 Listed $170,000 CPARMLS

Property tax history

+9.5%/yr

Latest (2025): $2,505 · +3.5% YoY. Source: county tax records.