708 S Hwy 22a Unit A & B · Parker, FL 32404

$200,000

4 bd · 2.0 ba · 1,634 sqft · Condo · 263 Days on market

Built 1950 Average condition $122/sqft · 24% below area Est $265k · 24% under ↓ 18% since listing

---

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 +19.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Turnkey Rental Opportunity with huge upside potential! With Rents below market, and a price that you can't beat for a Duplex, this offers the flexibility of a new stay for your first investment or a simple add to your portfolio. Grossing $1,800 per month, $21,480 Annual Gross Income

Key facts

• 0.36 acre lot
• Built 1950
• Listed 263 days

🏷️ Possibly a rental listed for sale. The $200,000 price doesn't fit this home's estimated sale value (~$264,539) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath condo listed at $200k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#704 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime 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 (+1.1%/yr); 969 active listings in the ZIP; 13 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 ($75k/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 $1k of loan paydown is wiped out by about $6k 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 263 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $75k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — 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 $176,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 7.56%
• Cash-on-cash: 4.53%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $264,539
• List price: $200,000
• Delta: -24.40%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.12% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.60×
• Total profit: $-22,667
• Equity at exit: $29,821

10-year hold

• IRR: -5.1%
• Equity multiple: 0.69×
• Total profit: $-17,087
• Equity at exit: $17,292

Cash invested: $56,000 (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 32404

• Home prices YoY: -16.1%
• Rents YoY: 1.1%
• Active inventory: 969
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,017 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $211

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 85%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 Phillips Ct Panama City, FL	3.0	2.0	1411	$1,700	$1.20	13d	1	0.46mi
5813 Hickory St Panama City, FL	3.0	2.0	1200	$1,950	$1.62	21d	1	0.80mi
129 Seneca Ave Panama City, FL	3.0	2.0	1449	$1,495	$1.03	13d	1	0.92mi
1128 S Gay Ave Lot 86 Panama City, FL	3.0	2.0	1216	$94,995	$78.12	21d	1	0.93mi
1128 S Gay Ave Lot 56 Panama City, FL	3.0	1.5	1216	$35,000	$28.78	21d	1	0.93mi
1128 S Gay Ave Lot V Panama City, FL	3.0	2.0	1152	$30,000	$26.04	21d	1	0.93mi
1128 S Gay Ave Lot 146 Panama City, FL	3.0	2.0	1536	$20,000	$13.02	21d	1	0.93mi
208 North Highway 22 A Unit 33 Panama City, FL	3.0	2.0	1080	$1,350	$1.25	21d	1	1.09mi
5101 Willow St Panama City, FL	3.0	2.0	1099	$1,500	$1.36	13d	1	1.22mi
114 S Kimbrel Ave Panama City, FL	3.0	2.0	1400	$1,850	$1.32	21d	1	1.22mi
907 Lee Ct Panama City, FL	3.0	3.0	2126	$2,100	$0.99	21d	1	1.26mi
6328 Olokee St Panama City, FL	3.0	2.0	1131	$1,850	$1.64	13d	1	1.34mi
229 Callaway Chase Ln Panama City, FL	3.0	2.5	1200	$1,650	$1.38	13d	1	1.45mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-19
   days on market $200,000 Active 263 DOM
2. 2026-06-18
   days on market $200,000 Active 262 DOM
3. 2026-06-17
   days on market $200,000 Active 261 DOM
4. 2026-06-16
   days on market $200,000 Active 260 DOM
5. 2026-06-15
   days on market $200,000 Active 259 DOM
6. 2026-06-14
   days on market $200,000 Active 257 DOM
7. 2026-06-13
   pricedays on market $200,000 Active 256 DOM
8. 2026-06-10
   days on market $224,900 Active 254 DOM
9. 2026-06-09
   days on market $224,900 Active 253 DOM
10. 2026-06-08
    days on market $224,900 Active 252 DOM
11. 2026-06-07
    days on market $224,900 Active 251 DOM
12. 2026-06-05
    days on market $224,900 Active 248 DOM
13. 2026-06-03
    days on market $224,900 Active 247 DOM
14. 2026-06-02
    days on market $224,900 Active 246 DOM
15. 2026-06-01
    days on market $224,900 Active 245 DOM
16. 2026-05-31
    days on market $224,900 Active 244 DOM
17. 2026-05-30
    days on market $224,900 Active 243 DOM
18. 2026-04-12
    status Active 283-char remark

    Show marketing remark (283 chars)

    Turnkey Rental Opportunity with huge upside potential! With Rents below market, and a price that you can't beat for a Duplex, this offers the flexibility of a new stay for your first investment or a simple add to your portfolio. Grossing $1,800 per month, $21,480 Annual Gross Income

19. 2026-04-12
    price $224,900 283-char remark

    Show marketing remark (283 chars)

    Turnkey Rental Opportunity with huge upside potential! With Rents below market, and a price that you can't beat for a Duplex, this offers the flexibility of a new stay for your first investment or a simple add to your portfolio. Grossing $1,800 per month, $21,480 Annual Gross Income

20. 2026-03-31
    historical 283-char remark

    Show marketing remark (283 chars)

    Turnkey Rental Opportunity with huge upside potential! With Rents below market, and a price that you can't beat for a Duplex, this offers the flexibility of a new stay for your first investment or a simple add to your portfolio. Grossing $1,800 per month, $21,480 Annual Gross Income

21. 2025-12-12
    price $224,999 283-char remark

    Show marketing remark (283 chars)

    Turnkey Rental Opportunity with huge upside potential! With Rents below market, and a price that you can't beat for a Duplex, this offers the flexibility of a new stay for your first investment or a simple add to your portfolio. Grossing $1,800 per month, $21,480 Annual Gross Income

22. 2025-11-19
    price $229,999 283-char remark

    Show marketing remark (283 chars)

    Turnkey Rental Opportunity with huge upside potential! With Rents below market, and a price that you can't beat for a Duplex, this offers the flexibility of a new stay for your first investment or a simple add to your portfolio. Grossing $1,800 per month, $21,480 Annual Gross Income

23. 2025-10-29
    price $249,999 283-char remark

    Show marketing remark (283 chars)

    Turnkey Rental Opportunity with huge upside potential! With Rents below market, and a price that you can't beat for a Duplex, this offers the flexibility of a new stay for your first investment or a simple add to your portfolio. Grossing $1,800 per month, $21,480 Annual Gross Income

24. 2025-09-16
    listed $275,000 Active 283-char remark

    Show marketing remark (283 chars)

    Turnkey Rental Opportunity with huge upside potential! With Rents below market, and a price that you can't beat for a Duplex, this offers the flexibility of a new stay for your first investment or a simple add to your portfolio. Grossing $1,800 per month, $21,480 Annual Gross Income

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $24,204
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − Depreciation: −$5,818
• Taxable loss: −$690
• Est. tax savings @ 24.0%: +$166
• After-tax cash flow: $2,701/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 · 8 photos

Average 55/100 Moderate rehab

This two-unit property offers moderate potential for improvement with average current condition. Simple updates to the interiors and exteriors can significantly enhance its value for both resale and rental purposes.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — basic and dated
• Minor exterior siding — some wear

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both replace kitchen countertops — modernizes the space and increases functionality
• Both repair exterior siding — improves curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · basic and dated	Minor	$500–3,000
exterior siding · some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace kitchen countertops — modernizes the space and increases functionality ↑
• Both repair exterior siding — improves curb appeal and structural integrity ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Parker

• Score: 63/100
• State rank: #704
• US rank: #14956

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parker, FL
• County: Bay County · 163,593 people
• Metro: Panama City, FL
• Population (ZIP): 42,514
• Household income: $74,708
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 1218.0

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 (69%)
• Race & ethnicity: White 69% Black 12% Two or more races 10% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, Vietnam, Mexico
• Languages at home: 90% English-only · Spanish 6% Vietnamese 1% Other Asian/Pacific 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: ▼ -50.59%
• Current HPI: 263.7178
• Rent YoY: ▲ 1.12%
• 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

-18.2% since first listed

7 events — show timeline

• 2026-04-12 Relisted — CPARMLS
• 2026-04-12 Price Changed $224,900 CPARMLS
• 2026-03-31 Listing Removed — CPARMLS
• 2025-12-12 Price Changed $224,999 CPARMLS
• 2025-11-19 Price Changed $229,999 CPARMLS
• 2025-10-29 Price Changed $249,999 CPARMLS
• 2025-09-16 Listed $275,000 CPARMLS