6720 Olokee St · Callaway, FL 32404

$139,900

3 bd · 2.0 ba · 1,560 sqft · Manufactured public records · 42 Days on market

Built 2009 5,271 sqft lot $90/sqft · 16% below area Est $167k · 16% 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 +30.0/30.0
• ARV discount +14.8/15.0
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is move in ready, just bring your family on in ! A spilit open floor plan with a king size master suit, this property is very clean and well kept. privacy fence in back yard to enjoy your summer barbecues and sun tanning in the privacy of your own back yard and a quiet neighborhood. Owner financing is available with 30% down payment to owner occupied only. Lockbox is on gate to your left.

Key facts

• 5,271 sq ft lot
• Built 2009
• Listed 41 days

Property features AI

Exterior

• Utilities: Electricity available; Public sewer
• Home design: Double-wide mobile home
• Exterior features: Yard shed(s)

Interior

• Kitchen: Electric oven
• Bedrooms: Three bedrooms on the first floor (approx. 12 x 11, 12 x 11, 13 x 11); Primary bedroom on the first floor (approx. 15 x 13)
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans

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 $682 ($8k/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 12.1% vs local median 5.1% in Callaway — 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 64/100 on livability (#690 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, 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; 26 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 31% 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 $967 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.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $100k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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: 1.38% ✓
• Cap rate: 12.15%
• Cash-on-cash: 20.91%
• DSCR: 1.93
• GRM: 6.0

CMA / ARV

• ARV (median comp): $167,111
• List price: $139,900
• Delta: -10.24%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7207 Cherry St	0.38mi	3/2.0	1,664 (+7%)	10mo	$155,900	$94	62
6904 Cherry St	0.23mi	3/2.0	1,400 (-10%)	17mo	$176,000	$126	58
124 Big Oak Ln	0.48mi	3/2.0	1,432 (-8%)	22mo	$180,000	$126	46

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 · 1.12% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.44×
• Total profit: $17,165
• Equity at exit: $20,860

10-year hold

• IRR: 18.9%
• Equity multiple: 2.44×
• Total profit: $56,567
• Equity at exit: $12,096

Cash invested: $39,172 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,929 high
• Mortgage (P&I): −$734
• Tax from tax record: −$50 /mo · $596/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $682

Break-even live

Break-even rent $1,065

Max offer price $139,900

Occupancy floor 60%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6328 Olokee St Panama City, FL	3.0	2.0	1131	$1,850	$1.64	13d	1	0.29mi
116 Christie Ln Panama City, FL	3.0	2.0	1092	$1,550	$1.42	21d	1	0.45mi
175 N Berthe Ave Panama City, FL	4.0	2.0	1498	$2,195	$1.47	13d	1	0.45mi
163 Lauren Ln Panama City, FL	4.0	2.0	1731	$2,300	$1.33	21d	1	0.48mi
114 S Kimbrel Ave Panama City, FL	3.0	2.0	1400	$1,850	$1.32	21d	1	0.50mi
7727 Betty Louise Dr Panama City, FL	3.0	2.0	1430	$1,950	$1.36	21d	1	0.77mi
5813 Hickory St Panama City, FL	3.0	2.0	1200	$1,950	$1.62	21d	1	0.79mi
7709 Betty Louise Dr Panama City, FL	3.0	2.0	1310	$1,800	$1.37	21d	1	0.81mi
6101 Harvey St #3 Panama City, FL	2.0	1.5	1108	$1,050	$0.95	21d	1	0.81mi
6121 Harvey St Unit 8 Panama City, FL	2.0	1.5	1200	$1,050	$0.88	21d	1	0.82mi
907 Lee Ct Panama City, FL	3.0	3.0	2126	$2,100	$0.99	21d	1	0.85mi
5717 Rebecca Ct Unit B Panama City, FL	2.0	1.0	1612	$1,350	$0.84	21d	1	0.92mi
133 Red Bay Rd Panama City, FL	4.0	2.0	2208	$2,500	$1.13	21d	1	0.99mi
263 Nelle Ave Panama City, FL	3.0	2.0	1294	$1,690	$1.31	21d	1	0.99mi
229 Callaway Chase Ln Panama City, FL	3.0	2.5	1200	$1,650	$1.38	13d	1	0.99mi
211 Sukoshi Dr Panama City, FL	3.0	2.0	1512	$1,900	$1.26	21d	1	1.02mi
5817 Jasmine Ct Panama City, FL	4.0	2.5	1633	$2,000	$1.22	13d	1	1.13mi
509 Phillips Ct Panama City, FL	3.0	2.0	1411	$1,700	$1.20	13d	1	1.15mi
420 Raven Ln Panama City, FL	3.0	2.0	1251	$1,750	$1.40	21d	1	1.28mi
129 Seneca Ave Panama City, FL	3.0	2.0	1449	$1,495	$1.03	13d	1	1.28mi
140 Carriage Rd Panama City, FL	4.0	3.5	2147	$2,800	$1.30	21d	1	1.28mi
1128 S Gay Ave Lot 86 Panama City, FL	3.0	2.0	1216	$94,995	$78.12	21d	1	1.39mi
1128 S Gay Ave Lot 146 Panama City, FL	3.0	2.0	1536	$20,000	$13.02	21d	1	1.39mi
1128 S Gay Ave Lot V Panama City, FL	3.0	2.0	1152	$30,000	$26.04	21d	1	1.39mi
1128 S Gay Ave Lot 56 Panama City, FL	3.0	1.5	1216	$35,000	$28.78	21d	1	1.39mi
208 North Highway 22 A Unit 33 Panama City, FL	3.0	2.0	1080	$1,350	$1.25	21d	1	1.50mi

Listing history 27 events

1. 2026-06-19
   days on market $139,900 Active 42 DOM
2. 2026-06-18
   days on market $139,900 Active 41 DOM
3. 2026-06-17
   days on market $139,900 Active 40 DOM
4. 2026-06-16
   remarks 400-char remark
5. 2026-06-16
   price $139,900 Active 39 DOM
6. 2026-06-16
   days on market $150,000 Active 39 DOM
7. 2026-06-15
   days on market $150,000 Active 38 DOM
8. 2026-06-14
   days on market $150,000 Active 36 DOM
9. 2026-06-13
   days on market $150,000 Active 35 DOM
10. 2026-06-10
    days on market $150,000 Active 33 DOM
11. 2026-06-09
    days on market $150,000 Active 32 DOM
12. 2026-06-08
    days on market $150,000 Active 31 DOM
13. 2026-06-07
    days on market $150,000 Active 30 DOM
14. 2026-06-05
    days on market $150,000 Active 27 DOM
15. 2026-06-03
    days on market $150,000 Active 26 DOM
16. 2026-06-02
    days on market $150,000 Active 25 DOM
17. 2026-06-01
    days on market $150,000 Active 24 DOM
18. 2026-05-31
    days on market $150,000 Active 23 DOM
19. 2026-05-30
    days on market $150,000 Active 22 DOM
20. 2026-05-08
    listed $150,000 Active 364-char remark
21. 2019-09-27
    soldstatus $100,000 405-char remark

    Show marketing remark (405 chars)

    This property is move in ready, just bring your family on in ! A spilit open floor plan with a king size master suit, this property is very clean and well kept. privacy fence in back yard to enjoy your summer barbecues and sun tanning in the privacy of your own back yard and a quiet neighborhood. Owner financing is available with 30% down payment to owner occupied only. Lockbox is on gate to your left.

22. 2019-09-27
    soldstatus $100,000

    Show marketing remark (405 chars)

    This property is move in ready, just bring your family on in ! A spilit open floor plan with a king size master suit, this property is very clean and well kept. privacy fence in back yard to enjoy your summer barbecues and sun tanning in the privacy of your own back yard and a quiet neighborhood. Owner financing is available with 30% down payment to owner occupied only. Lockbox is on gate to your left.

23. 2019-07-01
    listed $109,000 405-char remark

    Show marketing remark (405 chars)

    This property is move in ready, just bring your family on in ! A spilit open floor plan with a king size master suit, this property is very clean and well kept. privacy fence in back yard to enjoy your summer barbecues and sun tanning in the privacy of your own back yard and a quiet neighborhood. Owner financing is available with 30% down payment to owner occupied only. Lockbox is on gate to your left.

24. 2017-12-22
    soldstatus $41,003

    Show marketing remark (240 chars)

    Mobile Home with 4 bedrooms and 2 baths and 1560 SF. Kitchen, Dining and Living have laminate flooring. Split bedroom floorplan with carpeted bedrooms. Large master bathroom. Located near shopping, schools and medical. Being Sold ''AS IS''.

25. 2017-12-22
    soldstatus $41,003

    Show marketing remark (240 chars)

    Mobile Home with 4 bedrooms and 2 baths and 1560 SF. Kitchen, Dining and Living have laminate flooring. Split bedroom floorplan with carpeted bedrooms. Large master bathroom. Located near shopping, schools and medical. Being Sold ''AS IS''.

26. 2017-11-28
    listed $40,000

    Show marketing remark (240 chars)

    Mobile Home with 4 bedrooms and 2 baths and 1560 SF. Kitchen, Dining and Living have laminate flooring. Split bedroom floorplan with carpeted bedrooms. Large master bathroom. Located near shopping, schools and medical. Being Sold ''AS IS''.

27. 2017-11-28
    listed $40,000

    Show marketing remark (240 chars)

    Mobile Home with 4 bedrooms and 2 baths and 1560 SF. Kitchen, Dining and Living have laminate flooring. Split bedroom floorplan with carpeted bedrooms. Large master bathroom. Located near shopping, schools and medical. Being Sold ''AS IS''.

ⓘ 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: $596 · $50/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$566/yr (+$47/mo · 95.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 22 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: $23,150
• − Mortgage interest: −$7,837
• − Property taxes: −$596
• − Insurance: −$700
• − Repairs & maintenance: −$1,852
• − Management: −$1,852
• − Depreciation: −$4,070
• Taxable income: $6,244
• Est. tax owed @ 24.0%: −$1,499
• After-tax cash flow: $6,691/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 — Callaway

• Score: 64/100
• State rank: #690
• US rank: #14384

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Callaway, 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

+249.8% since first listed

9 events — show timeline

• 2026-06-16 Price Changed $139,900 CPARMLS
• 2026-05-08 Listed $150,000 CPARMLS
• 2019-09-27 Sold (Public Records) $100,000 Public Records
• 2019-09-27 Sold (MLS) $100,000 CPARMLS
• 2019-07-01 Listed $109,000 CPARMLS
• 2017-12-22 Sold (MLS) $41,003 RAFGC
• 2017-12-22 Sold (MLS) $41,003 CPARMLS
• 2017-11-28 Listed $40,000 RAFGC
• 2017-11-28 Listed $40,000 CPARMLS

Property tax history

-2.9%/yr

Latest (2025): $596 · +4.6% YoY. Source: county tax records.