6534 Buckingham Rd · Panama City, FL 32466

$140,000

3 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 44 Days on market

Built 1996 1.03 ac lot

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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
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.9/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Peaceful and affordable living at this maintained home in Bayou George. With 2 bedrooms and 2 bathrooms the home is comfortable to live in. There is a porch attached with an overhang to sit and enjoy the nature with an attached carport large enough for 2 vehicles. The acre has been meticulously maintained and cleared for enjoyment with a pond area and walkover. There is a shed on the property to use and a beautiful pond out front. New septic and drain field installed after 2019, home is on a deep well system, metal roof installed 2019, vinyl siding, carport and appliances also updated in 2019. recently new floors have been installed and seller is continuing to make improvements on the home.

Key facts

• 1.03 acre lot
• Built 1996
• Listed 43 days

Property features AI

Exterior

• Utilities: Electricity available
• Home design: Single-wide mobile home; Zoned for county residential single-family
• Construction: Metal roof
• Exterior features: Covered porch; Shed(s); Partial privacy fencing; Dirt road access

Interior

• Bedrooms: Three bedrooms (approx. 12 x 12; 10 x 8; 12 x 10)
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $575 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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: 112 active listings in the ZIP; 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($968 loan paydown + $14k appreciation (10.0% local appreciation)).
• Bay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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 $17k; list at $140k implies a 724% 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; major 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 $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 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: 1.39% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.60%
• DSCR: 1.78
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 37.4%
• Equity multiple: 3.88×
• Total profit: $112,905
• Equity at exit: $126,123

10-year hold

• IRR: 32.2%
• Equity multiple: 8.75×
• Total profit: $303,741
• Equity at exit: $271,989

Cash invested: $39,200 (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 32466

• Home prices YoY: 4.4%
• Active inventory: 112
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,953 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,100/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $575

Break-even live

Break-even rent $1,225

Max offer price $140,000

Occupancy floor 66%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-19
   days on market $140,000 Active 44 DOM
2. 2026-06-18
   days on market $140,000 Active 43 DOM
3. 2026-06-17
   days on market $140,000 Active 42 DOM
4. 2026-06-16
   days on market $140,000 Active 41 DOM
5. 2026-06-15
   days on market $140,000 Active 40 DOM
6. 2026-06-14
   days on market $140,000 Active 38 DOM
7. 2026-06-13
   days on market $140,000 Active 37 DOM
8. 2026-06-10
   days on market $140,000 Active 35 DOM
9. 2026-06-09
   days on market $140,000 Active 34 DOM
10. 2026-06-08
    days on market $140,000 Active 33 DOM
11. 2026-06-07
    days on market $140,000 Active 32 DOM
12. 2026-06-05
    days on market $140,000 Active 29 DOM
13. 2026-06-03
    days on market $140,000 Active 28 DOM
14. 2026-06-02
    days on market $140,000 Active 27 DOM
15. 2026-06-01
    days on market $140,000 Active 26 DOM
16. 2026-05-31
    days on market $140,000 Active 25 DOM
17. 2026-05-30
    days on market $140,000 Active 24 DOM
18. 2026-05-04
    listed $140,000 Active 878-char remark
19. 2021-12-14
    historical
20. 2021-12-14
    historical
21. 2004-09-20
    soldstatus $17,000
22. 2000-10-17
    listed $53,400
23. 2000-01-25
    listed $56,500
24. 1992-05-01
    soldstatus $17,000
25. 1990-01-01
    soldstatus $13,900

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,432
• − Mortgage interest: −$7,842
• − Property taxes: −$2,100
• − Insurance: −$700
• − Repairs & maintenance: −$1,875
• − Management: −$1,875
• − Depreciation: −$4,073
• Taxable income: $4,968
• Est. tax owed @ 24.0%: −$1,192
• After-tax cash flow: $5,709/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

• City population: 91,445
• Population (ZIP): 5,837

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 (89%)
• Race & ethnicity: White 89% Two or more races 7% Black 3% Hispanic / Latino 2%
• Common ancestry: Lithuanian 4% Portuguese 3% Serbian 2%
• Foreign-born: 2% · Canada

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: ▲ 11.68%
• Current HPI: 274.7988
• Rent YoY: —
• Metro: —
• 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

+907.2% since first listed

8 events — show timeline

• 2026-05-04 Listed $140,000 CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2004-09-20 Sold (Public Records) $17,000 Public Records
• 2000-10-17 Listed $53,400 CPARMLS
• 2000-01-25 Listed $56,500 CPARMLS
• 1992-05-01 Sold (Public Records) $17,000 Public Records
• 1990-01-01 Sold (Public Records) $13,900 Public Records

Property tax history

+7.9%/yr

Latest (2025): $92 · +12.5% YoY. Source: county tax records.