2500 W 20th St · Panama City, FL 32405

$225,000

4 bd · 2.0 ba · 1,360 sqft · SingleFamily public records · 3 Days on market

Built 1957 0.27 ac lot Est $257k · 12% under

---

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 +14.8/30.0
• ARV discount +13.1/15.0
• DSCR +4.5/10.0
• Schools +4.3/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming, Move-In Ready Block Home in Central Panama City! Welcome to this beautifully updated 4-bedroom, 2-bathroom single-family ranch home, offering the perfect blend of mid-century character and modern peace of mind. Nestled in an established, central neighborhood with no HOA, this turnkey property sits on a generous 0.27-acre lot and is completely ready for its next chapter. Centrally located with effortless access to local schools, shopping, and popular restaurants. Best of all, you are just a short drive away from the beautiful waters of St. Andrews and only 15 minutes from the world-famous white sand beaches of Panama City Beach! Whether you are looking for a move-in-ready primary r

Key facts

• Central neighborhood
• Access to shopping
• Move in ready

Tags

• MOVE IN READY
• CENTRAL NEIGHBORHOOD
• NO HOA
• 0.27 ACRE LOT
• ACCESS TO SHOPPING
• ACCESS TO POPULAR RESTAURANTS

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Utilities: Electricity available; Public sewer
• Home design: Single-story home; Slab foundation; Block construction
• Construction: Built with block construction; Slab foundation
• Exterior features: Patio; Paved lot

Interior

• Kitchen: Electric range
• Bedrooms: Primary bedroom on main level; Additional bedrooms on main level (three bedrooms noted)
• Bathrooms: 2 full bathrooms; Full bath on main level
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Double vanity; Main level primary bedroom; Tub with shower; Entrance foyer; Utility room; 12 total rooms including foyer, living room, dining room and Florida room
• Laundry & utility: Utility room; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $63 ($755/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (13.9% below list).
• Recommended offer: $194k (13.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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.
• Zoned schools: Lucille Moore Elementary School (math 24% / reading 30%, grade F, #1,969 of 2,144 statewide, top 94%, 503 students, 71% FRL); Jinks Middle School (math 41% / reading 42%, grade F, #348 of 571 statewide, top 62%, 570 students, 70% FRL); Bay High School (math 37% / reading 34%, grade F, #367 of 667 statewide, top 57%, 1,255 students, 53% FRL) — zoned schools average 65% FRL vs 48% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 35% at this address vs 51% district-wide (-16 pts) — the specific schools serving this property underperform the Bay average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.2%/yr); 380 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 7y 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.
• Current owner paid $148k; list at $225k implies a 52% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — 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 $193,630 (13.9% below list)

Questions for the listing agent

1. Built in 1957 — 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. 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 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: 0.86% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.20%
• DSCR: 1.05
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $257,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1812 Foster Ave	0.22mi	3/2.0 (-1)	1,318 (-3%)	3mo	$220,000	$167	78
2200 W 20th St	0.19mi	3/1.0 (-1)	1,412 (+4%)	1mo	$115,000	$81	75
1712 Foster Ave	0.34mi	3/2.0 (-1)	1,368 (+1%)	4mo	$325,000	$238	75
1910 Chestnut Ave	0.24mi	3/2.0 (-1)	1,456 (+7%)	8mo	$275,000	$189	66
2502 W 20th St	0.02mi	3/2.0 (-1)	1,552 (+14%)	9mo	$230,000	$148	63
1717 Arthur Ave	0.32mi	3/1.5 (-1)	1,224 (-10%)	1mo	$128,000	$105	60
2703 W 18th St	0.35mi	3/2.0 (-1)	1,219 (-10%)	7mo	$246,000	$202	56
2400 W 16th St	0.54mi	3/2.0 (-1)	1,480 (+9%)	6mo	$255,000	$172	50
2326 Pretty Bayou Dr	0.63mi	3/2.0 (-1)	1,440 (+6%)	10mo	$307,000	$213	48
2333 Cincinnati Ave	0.62mi	3/2.5 (-1)	1,489 (+10%)	2mo	$325,000	$218	46
1409 Hickory Ave	0.74mi	3/2.0 (-1)	1,282 (-6%)	6mo	$225,000	$176	46
1705 Lake Ave	0.64mi	3/2.0 (-1)	1,254 (-8%)	9mo	$249,000	$199	45

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: -16.3%
• Equity multiple: 0.43×
• Total profit: $-35,846
• Equity at exit: $33,548

10-year hold

• IRR: -11.3%
• Equity multiple: 0.37×
• Total profit: $-39,502
• 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 32405

• Rents YoY: 1.2%
• Active inventory: 380
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,936 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$193 /mo · $2,317/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $63

Break-even live

Break-even rent $1,857

Max offer price $225,000

Occupancy floor 92%

Sensitivity live

Price	-10% $190	-5% $127	+0% $63	+5% $-1	+10% $-64
Rent	-10% $-90	-5% $-14	+0% $63	+5% $139	+10% $216
Rate	-1.0pp $176	-0.5pp $120	base $63	+0.5pp $5	+1.0pp $-55

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 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	23d	1	0.26mi
1710 Drake Ave Panama City, FL	3.0	2.0	1130	$1,850	$1.64	23d	1	0.36mi
3722 Burnham Way Panama City, FL	3.0	2.0	1040	$1,600	$1.54	23d	1	0.83mi
2602 W 12th St Panama City, FL	3.0	2.0	1400	$2,095	$1.50	23d	1	1.03mi
4105 W 22nd St Unit 4105 Panama City, FL	3.0	2.0	1000	$1,395	$1.40	23d	1	1.06mi
1827 Balboa Ave Panama City, FL	3.0	2.5	1440	$1,800	$1.25	15d	1	1.28mi
4324 W 20th St Panama City, FL	1.0–3.0	1.0–2.5	1000	$1,630	$1.63	15d	12	1.35mi

Listing history 3 events

1. 2026-06-21
   days on market $225,000 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $225,000 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: $2,317 · $193/mo
• Projected year-2 tax: $2,317 · $193/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: $23,236
• − Mortgage interest: −$12,603
• − Property taxes: −$2,317
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,859
• − Management: −$1,859
• − Depreciation: −$6,545
• Taxable loss: −$3,073
• Est. tax savings @ 24.0%: +$737
• After-tax cash flow: $1,493/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

+40.7% since first listed

10 events — show timeline

• 2026-06-15 Listed $225,000 CPARMLS
• 2024-09-30 Listing Removed — CPARMLS
• 2024-05-28 Listed $210,000 CPARMLS
• 2021-12-28 Sold (Public Records) $148,000 Public Records
• 2021-12-09 Listing Removed — CPARMLS
• 2021-12-08 Sold (MLS) $148,000 CPARMLS
• 2021-11-09 Listed $175,000 CPARMLS
• 2020-03-10 Listing Removed — CPARMLS
• 2020-02-17 Listed $159,000 CPARMLS
• 2019-11-06 Listed $159,900 CPARMLS

Property tax history

+8.6%/yr

Latest (2025): $2,317 · +3.4% YoY. Source: county tax records.