10408 Highway 2301 · Panama City, FL 32466

$325,000

3 bd · 3.0 ba · 2,586 sqft · SingleFamily public records · 26 Days on market

Built 1978 2.98 ac lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +7.7/30.0
• 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
• DSCR +1.8/10.0
• 1% rule +0.9/10.0

Listing remarks MLS

3 Acres! Private, quiet, and built to last, this one-owner home on 3 acres is anything but ordinary. From the moment you arrive, the unique blend of retro character and modern design sets this property apart with a style you don't see every day. Inside, the layout is thoughtfully designed with two completely separate living areas. The main level features a full kitchen, living area, and one bedroom, while the upper level offers its own private kitchen, living space, and two bedrooms--making it ideal for multi-generational living, guests, or added flexibility for rental or private use. Major updates have already been taken care of, including a new roof (Feb 2024), HVAC (2022), and fresh interior paint (April 2026). Step outside and enjoy the full potential of this 3-acre property, complete with a pond, wide open space, and no HOA--giving you the freedom to expand, add a pool, or create your own homestead. There's plenty of room for animals, gardening, or simply enjoying the privacy. A standout feature is the 1,000 sq ft detached metal building, fully powered, insulated, and equipped with water and a roll-up bay door--perfect for a workshop, business use, or storage for boats, RVs, and more. If you're looking for space, functionality, and a property with true versatility, this one delivers.

Key facts

• Full kitchen
• Pond
• Private kitchen

Tags

• 3 ACRES
• TWO SEPARATE LIVING AREAS
• FULL KITCHEN
• PRIVATE KITCHEN
• DETACHED METAL BUILDING
• POND

Property features AI

Finance

• HOA & community: No recorded subdivision

Exterior

• Parking: Attached garage
• Utilities: Electric service; Private well water; Septic tank
• Home design: Contemporary style; 2 stories; Residency zoned for single-family
• Construction: Brick construction; Shingle roof; Slab foundation; Built in 1978
• Exterior features: Cleared lot; Paved road access

Interior

• Kitchen: Kitchen located on the first and second levels; Dishwasher; Disposal; Microwave
• Bedrooms: 3 bedrooms (one on the first floor; two on the second floor)
• Flooring: Tile flooring; Carpet flooring
• Bathrooms: 3 bathrooms total — 2 full baths and 1 half bath
• Heating & cooling: Central air conditioning; Ceiling fans
• Interior features: Breakfast bar; Kitchen island; Pantry; 9 total rooms
• Laundry & utility: Ceiling fans

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $-377 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (20.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (40.9% below list).
• Recommended offer: $192k (40.9% below list) — sets the bar for 1% rule.

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.
• Zoned schools: Waller Elementary School (math 42% / reading 42%, grade F, #1,403 of 2,144 statewide, top 67%, 439 students, 75% FRL) — zoned schools average 75% FRL vs 48% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $35k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Bay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$56k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

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 $192,033 (40.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.59% ✗
• Cap rate: 4.90%
• Cash-on-cash: -4.97%
• DSCR: 0.78
• GRM: 14.1

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: 20.7%
• Equity multiple: 2.68×
• Total profit: $152,814
• Equity at exit: $292,786

10-year hold

• IRR: 18.8%
• Equity multiple: 6.15×
• Total profit: $468,514
• Equity at exit: $631,404

Cash invested: $91,000 (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 32466

• Home prices YoY: 4.4%
• Active inventory: 112
• Price-to-rent: 14.1×

Monthly cashflow live

• Estimated rent: $1,920 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$54 /mo · $650/yr
• Insurance: −$135
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-377

Break-even live

Break-even rent $2,397

Max offer price $258,426

Occupancy floor —

Sensitivity live

Price	-10% $-193	-5% $-285	+0% $-377	+5% $-841	+10% $-954
Rent	-10% $-529	-5% $-453	+0% $-377	+5% $-301	+10% $-225
Rate	-1.0pp $-213	-0.5pp $-294	base $-377	+0.5pp $-461	+1.0pp $-547

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-20
   status Pending 1309-char remark

   Show marketing remark (1309 chars)

   3 Acres! Private, quiet, and built to last, this one-owner home on 3 acres is anything but ordinary. From the moment you arrive, the unique blend of retro character and modern design sets this property apart with a style you don't see every day. Inside, the layout is thoughtfully designed with two completely separate living areas. The main level features a full kitchen, living area, and one bedroom, while the upper level offers its own private kitchen, living space, and two bedrooms--making it ideal for multi-generational living, guests, or added flexibility for rental or private use. Major updates have already been taken care of, including a new roof (Feb 2024), HVAC (2022), and fresh interior paint (April 2026). Step outside and enjoy the full potential of this 3-acre property, complete with a pond, wide open space, and no HOA--giving you the freedom to expand, add a pool, or create your own homestead. There's plenty of room for animals, gardening, or simply enjoying the privacy. A standout feature is the 1,000 sq ft detached metal building, fully powered, insulated, and equipped with water and a roll-up bay door--perfect for a workshop, business use, or storage for boats, RVs, and more. If you're looking for space, functionality, and a property with true versatility, this one delivers.

2. 2026-05-18
   status Active
3. 2026-05-16
   status Active 1309-char remark

   Show marketing remark (1309 chars)

   3 Acres! Private, quiet, and built to last, this one-owner home on 3 acres is anything but ordinary. From the moment you arrive, the unique blend of retro character and modern design sets this property apart with a style you don't see every day. Inside, the layout is thoughtfully designed with two completely separate living areas. The main level features a full kitchen, living area, and one bedroom, while the upper level offers its own private kitchen, living space, and two bedrooms--making it ideal for multi-generational living, guests, or added flexibility for rental or private use. Major updates have already been taken care of, including a new roof (Feb 2024), HVAC (2022), and fresh interior paint (April 2026). Step outside and enjoy the full potential of this 3-acre property, complete with a pond, wide open space, and no HOA--giving you the freedom to expand, add a pool, or create your own homestead. There's plenty of room for animals, gardening, or simply enjoying the privacy. A standout feature is the 1,000 sq ft detached metal building, fully powered, insulated, and equipped with water and a roll-up bay door--perfect for a workshop, business use, or storage for boats, RVs, and more. If you're looking for space, functionality, and a property with true versatility, this one delivers.

4. 2026-05-11
   status Pending
5. 2026-05-02
   status Pending 1309-char remark

   Show marketing remark (1309 chars)

   3 Acres! Private, quiet, and built to last, this one-owner home on 3 acres is anything but ordinary. From the moment you arrive, the unique blend of retro character and modern design sets this property apart with a style you don't see every day. Inside, the layout is thoughtfully designed with two completely separate living areas. The main level features a full kitchen, living area, and one bedroom, while the upper level offers its own private kitchen, living space, and two bedrooms--making it ideal for multi-generational living, guests, or added flexibility for rental or private use. Major updates have already been taken care of, including a new roof (Feb 2024), HVAC (2022), and fresh interior paint (April 2026). Step outside and enjoy the full potential of this 3-acre property, complete with a pond, wide open space, and no HOA--giving you the freedom to expand, add a pool, or create your own homestead. There's plenty of room for animals, gardening, or simply enjoying the privacy. A standout feature is the 1,000 sq ft detached metal building, fully powered, insulated, and equipped with water and a roll-up bay door--perfect for a workshop, business use, or storage for boats, RVs, and more. If you're looking for space, functionality, and a property with true versatility, this one delivers.

6. 2026-04-23
   listed $325,000 Active
7. 2026-04-22
   listed $325,000 Active 1309-char remark

   Show marketing remark (1309 chars)

   3 Acres! Private, quiet, and built to last, this one-owner home on 3 acres is anything but ordinary. From the moment you arrive, the unique blend of retro character and modern design sets this property apart with a style you don't see every day. Inside, the layout is thoughtfully designed with two completely separate living areas. The main level features a full kitchen, living area, and one bedroom, while the upper level offers its own private kitchen, living space, and two bedrooms--making it ideal for multi-generational living, guests, or added flexibility for rental or private use. Major updates have already been taken care of, including a new roof (Feb 2024), HVAC (2022), and fresh interior paint (April 2026). Step outside and enjoy the full potential of this 3-acre property, complete with a pond, wide open space, and no HOA--giving you the freedom to expand, add a pool, or create your own homestead. There's plenty of room for animals, gardening, or simply enjoying the privacy. A standout feature is the 1,000 sq ft detached metal building, fully powered, insulated, and equipped with water and a roll-up bay door--perfect for a workshop, business use, or storage for boats, RVs, and more. If you're looking for space, functionality, and a property with true versatility, this one delivers.

ⓘ 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: $650 · $54/mo
• Projected year-2 tax: $2,698 · $225/mo
• Expected delta: +$2,047/yr (+$171/mo · 315.0%)

ⓘ 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 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,044
• − Mortgage interest: −$18,205
• − Property taxes: −$650
• − Insurance: −$1,625
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − Depreciation: −$9,455
• Taxable loss: −$10,578
• Est. tax savings @ 24.0%: +$2,539
• After-tax cash flow: $-1,984/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

+0.0% since first listed

7 events — show timeline

• 2026-05-20 Pending — CPARMLS
• 2026-05-18 Relisted — ECAR
• 2026-05-16 Relisted — CPARMLS
• 2026-05-11 Pending — ECAR
• 2026-05-02 Pending — CPARMLS
• 2026-04-23 Listed $325,000 ECAR
• 2026-04-22 Listed $325,000 CPARMLS

Property tax history

-4.4%/yr

Latest (2025): $650 · +4.4% YoY. Source: county tax records.