1522 Kraft Ave · Cedar Grove, FL 32405

$134,900

2 bd · 2.0 ba · 1,026 sqft · Townhouse public records · 59 Days on market

Built 1983 Est $185k · 27% under

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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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +5.5/10.0
• Schools +4.3/10.0
• Livability +3.5/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1522 Kraft Avenue in Panama City; a beautifully renovated home that combines modern updates with everyday convenience. This property has been thoughtfully upgraded with brand-new flooring, fresh drywall throughout, completely updated bathrooms, and more, offering a clean and move-in-ready experience. Ideally located, you'll enjoy quick access to grocery stores, restaurants, schools, and shopping, making daily errands simple and efficient. Whether you're heading to work, grabbing a bite, or enjoying everything the area has to offer, this location keeps you close to it all. If you're looking for a updated home in a convenient location, this one checks all the boxes.

Key facts

• Fresh drywall
• Renovated home
• New flooring

Tags

• RENOVATED HOME
• UPDATED BATHROOMS
• NEW FLOORING
• FRESH DRYWALL
• QUICK ACCESS TO GROCERY STORES
• ACCESS TO RESTAURANTS

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Parking: Paved parking
• Utilities: Electricity available; Public sewer
• Home design: Single-family residence
• Construction: Composition/shingle roof; Mobile home dimensions recorded in feet
• Exterior features: Paved parking; City street frontage; Publicly maintained road; Zoned for single-family residential

Interior

• Kitchen: Electric cooktop; Electric oven
• Bedrooms: Primary bedroom on second level; Additional bedroom on second level
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Two total rooms
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $135k.

Deal economics

• At list price, monthly cash flow is $298 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#445 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: employment C-, schools F, amenities 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 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.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $39k; list at $135k implies a 247% 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; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 8.95%
• Cash-on-cash: 9.48%
• DSCR: 1.42
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $184,680
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2716 Oak Hammock Dr	0.68mi	3/2.0 (+1)	1,040 (+1%)	24mo	$187,000	$180	41

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: -3.9%
• Equity multiple: 0.86×
• Total profit: $-5,360
• Equity at exit: $20,114

10-year hold

• IRR: 3.9%
• Equity multiple: 1.26×
• Total profit: $9,872
• Equity at exit: $11,664

Cash invested: $37,772 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,412 high
• Mortgage (P&I): −$707
• Tax from tax record: −$53 /mo · $639/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $298

Break-even live

Break-even rent $1,034

Max offer price $134,900

Occupancy floor 74%

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1637 N James Ave Panama City, FL	2.0	1.5	972	$1,275	$1.31	21d	1	0.20mi
2623 E 16th St Unit A Panama City, FL	3.0	2.0	1250	$1,625	$1.30	21d	1	0.27mi
1401 Transmitter Rd Unit 15 Panama City, FL	3.0	2.0	1100	$1,395	$1.27	13d	1	0.82mi
3719 E 8th Ct Panama City, FL	1.0–4.0	1.0–1.5	950	$1,100	$1.16	21d	1	0.99mi
725 Sherman Ave Unit B Panama City, FL	3.0	1.0	878	$1,250	$1.42	21d	1	1.19mi
3914 E 11th St #301 Panama City, FL	2.0	2.0	864	$1,000	$1.16	21d	1	1.20mi
906 Kevin Ct Panama City, FL	3.0	2.0	1266	$1,795	$1.42	21d	1	1.45mi

Listing history 32 events

1. 2026-06-19
   days on market $134,900 Active 59 DOM
2. 2026-06-18
   days on market $134,900 Active 58 DOM
3. 2026-06-17
   days on market $134,900 Active 57 DOM
4. 2026-06-16
   days on market $134,900 Active 56 DOM
5. 2026-06-15
   days on market $134,900 Active 55 DOM
6. 2026-06-14
   days on market $134,900 Active 53 DOM
7. 2026-06-13
   days on market $134,900 Active 52 DOM
8. 2026-06-10
   days on market $134,900 Active 50 DOM
9. 2026-06-09
   days on market $134,900 Active 49 DOM
10. 2026-06-08
    days on market $134,900 Active 48 DOM
11. 2026-06-07
    days on market $134,900 Active 47 DOM
12. 2026-06-05
    days on market $134,900 Active 44 DOM
13. 2026-06-03
    days on market $134,900 Active 43 DOM
14. 2026-06-02
    days on market $134,900 Active 42 DOM
15. 2026-06-01
    days on market $134,900 Active 41 DOM
16. 2026-05-31
    days on market $134,900 Active 40 DOM
17. 2026-05-30
    days on market $134,900 Active 39 DOM
18. 2026-05-21
    status Active
19. 2026-05-07
    status Pending
20. 2026-05-04
    price $134,900
21. 2026-04-06
    listed $139,900 Active
22. 2026-03-31
    historical
23. 2026-01-21
    price $139,999
24. 2025-10-29
    price $118,999
25. 2025-09-16
    listed $120,000 Active
26. 2023-10-15
    historical $1,150
27. 2023-10-06
    listed $1,150
28. 2020-03-09
    soldstatus $38,923
29. 2008-07-17
    soldstatus $114,000
30. 2004-11-04
    soldstatus $44,000
31. 1998-10-01
    soldstatus $47,000
32. 1990-03-01
    soldstatus $30,600

ⓘ 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: $639 · $53/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$481/yr (+$40/mo · 75.3%)

ⓘ 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 5/10 Major
• 🌡 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: $16,941
• − Mortgage interest: −$7,556
• − Property taxes: −$639
• − Insurance: −$674
• − Repairs & maintenance: −$1,355
• − Management: −$1,355
• − Depreciation: −$3,924
• Taxable income: $1,436
• Est. tax owed @ 24.0%: −$345
• After-tax cash flow: $3,236/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 — Cedar Grove

• Score: 70/100
• State rank: #445
• US rank: #8018

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cedar Grove, FL
• County: Bay County · 163,593 people
• 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

+340.8% since first listed

15 events — show timeline

• 2026-05-21 Relisted — CPARMLS
• 2026-05-07 Pending — CPARMLS
• 2026-05-04 Price Changed $134,900 CPARMLS
• 2026-04-06 Listed $139,900 CPARMLS
• 2026-03-31 Listing Removed — CPARMLS
• 2026-01-21 Price Changed $139,999 CPARMLS
• 2025-10-29 Price Changed $118,999 CPARMLS
• 2025-09-16 Listed $120,000 CPARMLS
• 2023-10-15 Rental Removed $1,150 APPFOLIO
• 2023-10-06 Listed for Rent $1,150 APPFOLIO
• 2020-03-09 Sold (Public Records) $38,923 Public Records
• 2008-07-17 Sold (Public Records) $114,000 Public Records
• 2004-11-04 Sold (Public Records) $44,000 Public Records
• 1998-10-01 Sold (Public Records) $47,000 Public Records
• 1990-03-01 Sold (Public Records) $30,600 Public Records

Property tax history

+7.0%/yr

Latest (2025): $639 · +9.3% YoY. Source: county tax records.