144-146 N Claire Ave · Panama City, FL 32401

$260,000

4 bd · 2.0 ba · 1,210 sqft · MultiFamily · 86 Days on market

Built 1944 Good condition 7,231 sqft lot $215/sqft · 57% above area

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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 +24.3/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Go show. Don't miss this beautifully newly remodeled duplex offering 1,210 square feet of updated living space and excellent income potential. Thoughtfully upgraded with modern finishes and refreshed interiors, this property is move-in ready and perfect for both investors and owner-occupants. Each unit features a bright, open layout with updated flooring, contemporary fixtures, and stylish kitchen and bath improvements that today's renters love. The recent renovations minimize maintenance concerns while maximizing appeal. With rental potential of up to $2,350 per month, this duplex presents a strong opportunity for steady cash flow. Whether you're looking to expand your portfolio or live in one unit while renting the other, this property offers flexibility and long-term value. Clean, updated, and income-ready -- schedule your showing today!

Key facts

• Bright open layout
• Modern finishes
• Updated flooring

Tags

• NEWLY REMODELED DUPLEX
• UPDATED LIVING SPACE
• MODERN FINISHES
• REFRESHED INTERIORS
• BRIGHT OPEN LAYOUT
• UPDATED FLOORING

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $522 ($6k/yr) — positive. Per door: $261/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $260k).
• Recommended offer: $244k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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: Rents flat; 258 active listings in the ZIP; 3 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).
• At $2,935/mo this rent would consume 67% of the median local household income ($53k/yr) (locally 935% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 86 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y ago; this cycle's ask has dropped $14k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $260k implies a 1757% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $244,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 86 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.13% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.60%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (median comp): $165,125
• List price: $260,000
• Delta: 57.46%
• Verdict: OVERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.45% rent growth · sell at horizon

5-year hold

• IRR: -6.2%
• Equity multiple: 0.78×
• Total profit: $-16,194
• Equity at exit: $38,767

10-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $243
• Equity at exit: $22,480

Cash invested: $72,800 (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 32401

• Home prices YoY: -32.9%
• Rents YoY: 0.5%
• Active inventory: 258
• Price-to-rent: 14.8×

Monthly cashflow live

• Estimated rent: $2,935 medium
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,900/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$616
• Net cashflow: $522

Break-even live

Break-even rent $2,274

Max offer price $260,000

Occupancy floor 77%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,934
Total (2 units)			$2,935

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
300 Mercedes Ave Unit 1523335P Panama City, FL	3.0	2.0	1194	$3,807	$3.19	21d	1	0.41mi
329 N Palo Alto Ave Panama City, FL	3.0	2.0	1300	$1,950	$1.50	13d	1	0.62mi
725 Sherman Ave Unit B Panama City, FL	3.0	1.0	878	$1,250	$1.42	21d	1	1.04mi

Listing history 4 events

1. 2026-04-16
   price $260,000 852-char remark

   Show marketing remark (852 chars)

   Go show. Don't miss this beautifully newly remodeled duplex offering 1,210 square feet of updated living space and excellent income potential. Thoughtfully upgraded with modern finishes and refreshed interiors, this property is move-in ready and perfect for both investors and owner-occupants. Each unit features a bright, open layout with updated flooring, contemporary fixtures, and stylish kitchen and bath improvements that today's renters love. The recent renovations minimize maintenance concerns while maximizing appeal. With rental potential of up to $2,350 per month, this duplex presents a strong opportunity for steady cash flow. Whether you're looking to expand your portfolio or live in one unit while renting the other, this property offers flexibility and long-term value. Clean, updated, and income-ready -- schedule your showing today!

2. 2026-03-02
   listed $274,000 Active 852-char remark

   Show marketing remark (852 chars)

   Go show. Don't miss this beautifully newly remodeled duplex offering 1,210 square feet of updated living space and excellent income potential. Thoughtfully upgraded with modern finishes and refreshed interiors, this property is move-in ready and perfect for both investors and owner-occupants. Each unit features a bright, open layout with updated flooring, contemporary fixtures, and stylish kitchen and bath improvements that today's renters love. The recent renovations minimize maintenance concerns while maximizing appeal. With rental potential of up to $2,350 per month, this duplex presents a strong opportunity for steady cash flow. Whether you're looking to expand your portfolio or live in one unit while renting the other, this property offers flexibility and long-term value. Clean, updated, and income-ready -- schedule your showing today!

3. 2010-02-19
   soldstatus $14,000 369-char remark

   Show marketing remark (369 chars)

   FORECLOSURE! Property consists of 2 houses. Located near Tyndall AFB in Springfield. Bring your hammer! Both dwellings need work. Could turn out to be a money maker for the right buyer. Square footage includes both houses. Being sold ''AS IS''. All sizes are approximate & should be verified if important. * * PLEASE CLICK ONTO PHOTO TO SEE MORE PICTURES * * *

4. 2009-03-09
   listed $25,000 369-char remark

   Show marketing remark (369 chars)

   FORECLOSURE! Property consists of 2 houses. Located near Tyndall AFB in Springfield. Bring your hammer! Both dwellings need work. Could turn out to be a money maker for the right buyer. Square footage includes both houses. Being sold ''AS IS''. All sizes are approximate & should be verified if important. * * PLEASE CLICK ONTO PHOTO TO SEE MORE PICTURES * * *

ⓘ 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 ≥105°F today · 20 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $35,220
• − Mortgage interest: −$14,564
• − Property taxes: −$3,900
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,818
• − Management: −$2,818
• − Depreciation: −$7,564
• Taxable income: $2,257
• Est. tax owed @ 24.0%: −$542
• After-tax cash flow: $5,720/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 · 11 photos

Good 80/100 Cosmetic rehab

This newly remodeled duplex is move-in ready and offers a good investment opportunity with updated interiors and a bright, open layout.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more renters
• Both Add a small patio or seating area — Can increase rental value and provide a relaxing space for residents

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more renters ↑
• Both Add a small patio or seating area — Can increase rental value and provide a relaxing space for residents ↑

ⓘ 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 — 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): 18,947
• Household income: $52,523
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 935.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 23% Hispanic / Latino 11% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% German/W. Germanic 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: ▼ -142.12%
• Current HPI: 290.3312
• Rent YoY: ▲ 0.45%
• 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

+940.0% since first listed

4 events — show timeline

• 2026-04-16 Price Changed $260,000 CPARMLS
• 2026-03-02 Listed $274,000 CPARMLS
• 2010-02-19 Sold (MLS) $14,000 CPARMLS
• 2009-03-09 Listed $25,000 CPARMLS