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17620 Front Beach Rd Unit N5
D- Composite 37.77
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).

  • ARV discount +10.3/15.0
  • Cash flow +6.5/30.0
  • Schools +5.4/10.0
  • 1% rule +4.3/10.0
  • Condition / age +4.0/5.0
  • Livability +3.9/5.0
  • Rent growth +2.6/5.0
  • DSCR +0.8/10.0
  • Appreciation +0.0/10.0

$269,000

17620 Front Beach Rd Unit N5 · Panama City Beach, FL 32413
2 bd · 2.0 ba · 1,120 sqft · Condo · 126 Days on market
Built 1984 Good condition $240/sqft · 6% below area Est $287k · 6% under $575/mo HOA · 23% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Tucked away in the highly sought after West End of PCB, this charming 2 bedroom, 2.5 bath condo in Portside Resort offers the perfect blend of beachside relaxation, convenience, and investment potential. This rare floor plan stands out with two full bathrooms plus a half bath, a hard to find feature in the community. The spacious primary suite offers its own private bath and balcony, creating the perfect spot to start your day with coffee and coastal breezes. Ideally located within the resort, Unit N5 is near by one of three community pools, including a beautiful waterfall pool and a seasonally heated pool, with plenty of space to kick back and unwind.

Key facts

  • Hot tub
  • Pickleball courts
  • Waterfall pool

Tags

BEACH ACCESSWATERFALL POOLSEASONALLY HEATED POOLHOT TUBTENNIS COURTSPICKLEBALL COURTS

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.0-bath condo listed at $269k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-457 ($-5k/yr) — negative.
  • To cash-flow at today's rent, offer at most $203k (24.6% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $250k (7.0% below list).
  • Recommended offer: $203k (24.6% below list) — sets the bar for cash-flow.
  • Cap rate 4.3% vs local median 1.7% in Panama City Beach — 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 78/100 on livability (#172 in FL, #2,624 nationally) — a middle-class / working-renter tenant base. 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: West Bay Elementary School (math 57% / reading 52%, grade C, #892 of 2,144 statewide, top 44%, 313 students, 50% FRL); Surfside Middle School (math 58% / reading 59%, grade B, #148 of 571 statewide, top 26%, 843 students, 48% FRL); J.R. Arnold High School (math 41% / reading 54%, grade D, #204 of 667 statewide, top 31%, 1,617 students, 36% FRL) — zoned schools at 45% FRL track the district average.
  • Market conditions: Rents flat; 1653 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
  • This rent runs 38% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $8k 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

  • It's been on market 126 days — a 12% lower offer ($237k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Watch-outs: HOA is 23% of rent.
  • Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 8→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $202,921 (24.6% 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. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
  3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  4. 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?
  5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
  6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
  7. 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?
  8. 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?
  9. 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.
  10. 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.
  11. 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
0.93%
Cap rate
4.26%
Cash-on-cash
-7.28%
DSCR
0.68
GRM
9.0

CMA / ARV

ARV (median comp)
$287,155
List price
$269,000
Delta
-6.32%
Verdict
FAIR
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
17620 Front Beach Rd Unit H6 0.02mi 2/2.5 1,120 (0%) 1mo $245,000 $219 96
17751 Panama City Beach Pkwy Unit 14E 0.09mi 2/2.0 1,100 (-2%) 1mo $175,000 $159 92
17751 Panama City Beach Pkwy Unit 3B 0.12mi 2/2.0 1,100 (-2%) 0mo $225,000 $205 91
17751 Panama City Beach Pkwy Unit 8E 0.12mi 2/2.0 1,100 (-2%) 1mo $195,000 $177 91
17620 Front Beach Rd Unit T1 0.21mi 2/1.5 1,120 (0%) 0mo $250,000 $223 88
17620 Front Beach Rd Unit J2 0.21mi 2/1.5 1,120 (0%) 1mo $264,000 $236 88
306 Jasmine Pl 1.32mi 2/2.0 1,150 (+3%) 1mo $532,000 $463 60
307 S Vestavia St 0.34mi 3/2.0 (+1) 1,371 (+22%) 0mo $645,000 $470 54
17462 Front Beach Rd #54106 0.48mi 2/2.0 945 (-16%) 1mo $235,000 $249 52
128 S Wells St 0.52mi 3/1.5 (+1) 950 (-15%) 1mo $390,000 $411 43
17281 Front Beach Rd Unit 306 0.95mi 2/2.0 1,345 (+20%) 1mo $685,000 $509 39
17351 Front Beach Rd Unit W603 0.84mi 2/2.0 1,400 (+25%) 1mo $544,000 $389 39

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 · 0.52% rent growth · sell at horizon

5-year hold
IRR
-32.7%
Equity multiple
-0.04×
Total profit
$-78,378
Equity at exit
$40,109
10-year hold
IRR
-64.0%
Equity multiple
-0.70×
Total profit
$-127,911
Equity at exit
$23,258

Cash invested: $75,320 (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.

Active competition Active MLS

For sale now
5 active · 5 under contract
Median asking
$270,000 ($281/sqft)
Median days on market
210 d
This list price
40% of active listings are priced below it
ARV vs active asking
-8.8% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32413

Home prices YoY
-34.4%
Rents YoY
0.5%
Active inventory
1653
Price-to-rent
9.0×

Monthly cashflow live

Estimated rent
$2,503 high interval (Pro) →
Mortgage (P&I)
$1,411
Tax est. 1.5%
$336 /mo · $4,035/yr
Insurance
$112
HOA
$575
Vacancy / Maint / Mgmt
$526
Net cashflow
$-457

Break-even live

Break-even rent $3,081
Max offer price $202,921
Occupancy floor

Sensitivity live

Price -10% $-271 -5% $-364 +0% $-457 +5% $-550 +10% $-643
Rent -10% $-654 -5% $-556 +0% $-457 +5% $-358 +10% $-259
Rate -1.0pp $-321 -0.5pp $-388 base $-457 +0.5pp $-526 +1.0pp $-597

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
$67,250
Closing costs
$8,070
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 17 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
17751 Panama City Beach Pkwy Unit 1523371P Panama City Beach, FL 2.0 2.0 1097 $3,862 $3.52 116d 1 0.06mi
17751 Panama City Beach Pkwy Unit 2E Panama City Beach, FL 2.0 2.0 1100 $2,600 $2.36 116d 1 0.08mi
17751 Panama City Beach Pkwy Panama City Beach, FL 2.0 2.0 1100 $2,100 $1.91 4d 1 0.08mi
17614 Front Beach Rd Unit 16D Panama City Beach, FL 2.0 1.0 748 $1,600 $2.14 116d 1 0.19mi
17735 Front Beach Rd Unit 1447171P Panama City Beach, FL 3.0 2.0 1227 $4,925 $4.01 116d 1 0.27mi
17729 Front Beach Rd Unit 1355005P Panama City Beach, FL 1.0 2.0 882 $2,038 $2.31 109d 1 0.28mi
17545 Front Beach Rd Unit 1523333P Panama City, FL 2.0 2.0 1140 $6,472 $5.68 109d 1 0.42mi
17462 Front Beach Rd Unit 1 Panama City Beach, FL 1.0 1.0 900 $1,950 $2.17 116d 1 0.48mi
121 S Wells St Panama City Beach, FL 3.0 2.0 1484 $2,500 $1.68 6d 1 0.49mi
17462 Front Beach Rd Unit 6B5 Panama City Beach, FL 3.0 2.5 1200 $3,000 $2.50 0d 1 0.52mi
127 Heather Dr Panama City Beach, FL 3.0 2.0 1297 $2,350 $1.81 109d 1 0.81mi
17225 Panama City Beach Pkwy Panama City Beach, FL 1.0–3.0 1.0–2.0 1115 $1,766 $1.58 3d 27 0.98mi
102 Cabana Cay Cir Panama City Beach, FL 1.0–2.0 1.0–2.0 950 $1,988 $2.09 0d 29 1.07mi
19610 Alta Vista Dr Panama City Beach, FL 2.0 1.0 1000 $1,400 $1.40 109d 1 1.19mi
17155 Front Beach Rd Unit 1354915P Panama City Beach, FL 2.0 2.0 1194 $2,498 $2.09 116d 1 1.21mi
119 Casa Pl Unit A Panama City Beach, FL 2.0 1.0 700 $1,600 $2.29 6d 1 1.31mi
90 Sandal Ln Panama City Beach, FL 1.0–3.0 1.0–2.0 1020 $1,457 $1.43 0d 24 1.48mi

Property features AI

Finance

HOA & community
Association presentHOA covers grounds maintenance, insurance, legal and management servicesCommunity allows short-term rentalsCommunity amenities include pool, tennis courts, cable TV and more

Exterior

Parking
One street parking space
Security
Smoke detectors
Utilities
Electric servicePublic waterPublic sewer
Home design
Condo unit (2-story)Unit spans two storiesBuilt in 1984
Construction
Stucco and wood trim exteriorShingle roofBuilt in 1984
Exterior features
BalconyCovered patioCommunity poolBBQ pit/grillBeach accessPavilion/gazeboPicnic areaTennis courts

Interior

Kitchen
CooktopDishwasherRefrigerator
Bedrooms
2 bedrooms totalMaster bedroom on second floor with balcony and carpet
Flooring
LaminateVinylCarpet
Bathrooms
2 bathrooms (2 full)Master bathroom with shower (no tub)
Heating & cooling
Central heatingCentral air conditioningCeiling fansElectric heat control
Interior features
FurnishedBreakfast barSplit-bedroom layoutWindow treatments
Laundry & utility
WasherDryerElectric water heater

HOA detail $575/mo · $6,900/yr condo

Likely covers
waterpool
Assessments
None detected in remarks — confirm with the listing agent.

Listing history 50 events

  1. 2026-09-24
    days on market $269,000 Active 126 DOM
  2. 2026-09-24
    days on market $269,000 Active 125 DOM
  3. 2026-09-22
    days on market $269,000 Active 124 DOM
  4. 2026-09-20
    days on market $269,000 Active 122 DOM
  5. 2026-09-19
    days on market $269,000 Active 121 DOM
  6. 2026-09-18
    days on market $269,000 Active 120 DOM
  7. 2026-09-17
    days on market $269,000 Active 119 DOM
  8. 2026-09-16
    days on market $269,000 Active 118 DOM
  9. 2026-09-15
    days on market $269,000 Active 117 DOM
  10. 2026-09-14
    days on market $269,000 Active 116 DOM
  11. 2026-09-13
    days on market $269,000 Active 115 DOM
  12. 2026-09-12
    days on market $269,000 Active 114 DOM
  13. 2026-09-12
    days on market $269,000 Active 113 DOM
  14. 2026-09-05
    days on market $269,000 Active 107 DOM
  15. 2026-09-04
    days on market $269,000 Active 106 DOM
  16. 2026-09-03
    days on market $269,000 Active 105 DOM
  17. 2026-08-30
    days on market $269,000 Active 101 DOM
  18. 2026-08-29
    days on market $269,000 Active 100 DOM
  19. 2026-08-28
    days on market $269,000 Active 99 DOM
  20. 2026-08-27
    days on market $269,000 Active 98 DOM
  21. 2026-08-26
    days on market $269,000 Active 97 DOM
  22. 2026-08-25
    days on market $269,000 Active 96 DOM
  23. 2026-08-24
    days on market $269,000 Active 95 DOM
  24. 2026-08-23
    days on market $269,000 Active 94 DOM
  25. 2026-08-21
    days on market $269,000 Active 93 DOM
  26. 2026-08-20
    days on market $269,000 Active 92 DOM
  27. 2026-08-19
    days on market $269,000 Active 91 DOM
  28. 2026-08-18
    days on market $269,000 Active 90 DOM
  29. 2026-08-17
    days on market $269,000 Active 89 DOM
  30. 2026-08-16
    days on market $269,000 Active 88 DOM
  31. 2026-08-15
    days on market $269,000 Active 87 DOM
  32. 2026-08-14
    days on market $269,000 Active 86 DOM
  33. 2026-08-13
    days on market $269,000 Active 85 DOM
  34. 2026-08-12
    days on market $269,000 Active 84 DOM
  35. 2026-08-11
    days on market $269,000 Active 83 DOM
  36. 2026-08-10
    days on market $269,000 Active 82 DOM
  37. 2026-08-09
    days on market $269,000 Active 81 DOM
  38. 2026-08-08
    days on market $269,000 Active 80 DOM
  39. 2026-08-07
    days on market $269,000 Active 79 DOM
  40. 2026-08-06
    days on market $269,000 Active 78 DOM
  41. 2026-08-05
    days on market $269,000 Active 77 DOM
  42. 2026-08-04
    days on market $269,000 Active 76 DOM
  43. 2026-08-03
    days on market $269,000 Active 75 DOM
  44. 2026-07-31
    days on market $269,000 Active 72 DOM
  45. 2026-07-30
    days on market $269,000 Active 71 DOM
  46. 2026-07-29
    days on market $269,000 Active 70 DOM
  47. 2026-07-27
    days on market $269,000 Active 68 DOM
  48. 2026-07-25
    days on market $269,000 Active 66 DOM
  49. 2026-07-23
    days on market $269,000 Active 64 DOM
  50. 2026-07-22
    days on market $269,000 Active 63 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
  • 🔥 Wildfire 4/10 Moderate
  • 🌡 Heat 10/10 Extreme 8 d/yr ≥105°F today · 24 d/yr by 30 yrs out
  • 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
  • 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$30,036
− Mortgage interest
−$15,068
− Property taxes
−$4,035
− Insurance
−$1,345
− Repairs & maintenance
−$2,403
− Management
−$2,403
− HOA
−$6,900
− Depreciation
−$7,825
Taxable loss
−$9,944
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$2,387
After-tax cash flow
$-3,093/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $5,600–$16,800 screening

This charming 2-bedroom, 2.5-bath condo in Portside Resort is in good condition with cosmetic updates needed to enhance its resale value.

Repairs flagged

  • Minor kitchen cabinets — dated appearance
  • Minor kitchen flooring — tile flooring

Value-add opportunities

  • Resale update kitchen cabinets — modernizing kitchen
  • Resale paint exterior — enhances curb appeal
  • Resale replace kitchen flooring — modernizing kitchen

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary West Bay Elementary School C FL #892/2,144 Nat'l #9,801/41,679 Middle Surfside Middle School B FL #148/571 Nat'l #2,008/14,009 High J.r. Arnold High School D FL #204/667 Nat'l #6,282/17,239

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
B Composite livability gradescore 78/100

Livability — Panama City Beach

Score
78/100
State rank
#172
US rank
#2624

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place
Panama City Beach, FL
County
Bay County · 206,264 people
City population
50,689
Metro
Panama City, FL
Population (ZIP)
15,453
Household income
$80,039
Rent vs Own
29.8% rent · 70.2% own
Severe rent burden
9% of renters

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 (87%)
Race & ethnicity
White 87% Hispanic / Latino 8% Two or more races 6% Black 1%
Hispanic origin (detail)
Mexican 1% Puerto Rican 2%
Common ancestry
Slovak 3% Italian 3% Lithuanian 2%
Foreign-born
8% · Canada, Jamaica
Languages at home
91% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 0%

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

Price history

1 event — show timeline
  • 2026-05-18 Listed $269,000 ECAR

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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