557 Palermo Rd · Panama City, FL 32405

$190,000

3 bd · 3.0 ba · 1,349 sqft · Townhouse public records · 18 Days on market

Built 1982 $141/sqft · 9% above area Est $174k · 9% over

---

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 +22.8/30.0
• DSCR +7.3/10.0
• 1% rule +5.3/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• ARV discount +3.2/15.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Immaculate townhome in Venetian Village for sale! This 3 Bed / 2.5 Bath townhome has recently been renovated for its next owners - It has NEW exterior stucco - NEW paint inside & out - NEW lighting fixtures and plantation blinds throughout - NEW landscaping - a NEW refrigerator, and MUCH MORE! The home has beautiful vinyl wood floors on the first floor, with tile in the kitchen. The kitchen has a HUGE pantry, and right down the hall a cute 1/2 bathroom with pedestal sink. The 2nd floor has all 3 bedrooms with HUGE closets, a guest bathroom, and the master bathroom with a beautiful custom stained-glass window. The townhome is MOVE-IN-READY, in a great neighborhood, and ready for new occupants. IT WILL NOT LAST LONG!!!

Key facts

• Built 1982
• Listed 18 days

Property features AI

Exterior

• Exterior features: Lot dimensions approximately 30 x 150 feet

Interior

• Bedrooms: Bedroom; Primary Bedroom
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Interior features: 3 total rooms; Includes bedroom and primary bedroom

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath townhouse listed at $190k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% 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.
• Zoned schools: Northside Elementary School (math 49% / reading 45%, grade D-, #1,191 of 2,144 statewide, top 57%, 598 students, 59% FRL); Mowat Middle School (math 49% / reading 51%, grade C, #254 of 571 statewide, top 45%, 868 students, 49% FRL); A. Crawford Mosley High School (math 51% / reading 55%, grade C-, #148 of 667 statewide, top 23%, 1,901 students, 36% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents rising (+1.2%/yr); 380 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 ($73k/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 18 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 25y 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 $150k; 27% 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; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,150 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 1.03% ✓
• Cap rate: 8.37%
• Cash-on-cash: 7.41%
• DSCR: 1.33
• GRM: 8.1

CMA / ARV

• ARV (median comp): $173,564
• List price: $190,000
• Delta: 9.47%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
505 Palermo Rd	0.12mi	3/2.5	1,401 (+4%)	9mo	$196,600	$140	78
4036 Woodridge Rd	0.34mi	2/2.0 (-1)	1,324 (-2%)	6mo	$220,000	$166	67

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 · 1.24% rent growth · sell at horizon

5-year hold

• IRR: -6.9%
• Equity multiple: 0.75×
• Total profit: $-13,293
• Equity at exit: $28,330

10-year hold

• IRR: 0.5%
• Equity multiple: 1.03×
• Total profit: $1,752
• Equity at exit: $16,428

Cash invested: $53,200 (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 32405

• Rents YoY: 1.2%
• Active inventory: 380
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,962 high
• Mortgage (P&I): −$996
• Tax from tax record: −$145 /mo · $1,745/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $329

Break-even live

Break-even rent $1,546

Max offer price $190,000

Occupancy floor 78%

Sensitivity live

Price	-10% $436	-5% $382	+0% $329	+5% $275	+10% $221
Rent	-10% $174	-5% $251	+0% $329	+5% $406	+10% $484
Rate	-1.0pp $424	-0.5pp $377	base $329	+0.5pp $279	+1.0pp $229

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3938 Solano Rd Unit 3938 Panama City, FL	3.0	2.5	1450	$1,800	$1.24	23d	1	0.19mi
3900 Arbor Trace Dr Lynn Haven, FL	2.0–3.0	2.0	1520	$1,854	$1.22	15d	34	0.28mi
604 Mallory Dr Panama City, FL	3.0	2.0	1799	$2,500	$1.39	15d	1	0.33mi
1125 Bradley Cir Lynn Haven, FL	3.0	2.0	1190	$1,850	$1.55	15d	1	0.50mi
1345 Capri Dr Panama City, FL	3.0	2.5	1572	$1,925	$1.22	15d	1	0.64mi
3502 Jenks Ave Panama City, FL	1.0–3.0	1.0–2.0	1176	$1,850	$1.57	15d	24	0.73mi
1117 Blazing Star St Panama City, FL	3.0	2.0	1800	$2,500	$1.39	23d	1	1.01mi
3100 Sweetbay Ave Panama City, FL	1.0–3.0	1.0–2.0	957	$2,168	$2.26	15d	26	1.08mi
3625 Frankford Ave Panama City, FL	1.0–3.0	1.0–2.0	943	$1,877	$1.99	15d	29	1.43mi
2870 Harrison Ave Panama City, FL	1.0–3.0	1.0–2.0	1230	$1,770	$1.44	23d	1	1.48mi

Listing history 24 events

1. 2026-05-18
   status Pending 143-char remark
2. 2026-04-29
   listed $190,000 Active 143-char remark
3. 2026-04-24
   status Active
4. 2026-04-24
   historical
5. 2026-04-17
   historical
6. 2025-05-21
   price $179,900
7. 2025-04-18
   listed $199,900 Active
8. 2019-11-22
   soldstatus $150,000
9. 2019-11-20
   soldstatus $150,000

   Show marketing remark (732 chars)

   Immaculate townhome in Venetian Village for sale! This 3 Bed / 2.5 Bath townhome has recently been renovated for its next owners - It has NEW exterior stucco - NEW paint inside & out - NEW lighting fixtures and plantation blinds throughout - NEW landscaping - a NEW refrigerator, and MUCH MORE! The home has beautiful vinyl wood floors on the first floor, with tile in the kitchen. The kitchen has a HUGE pantry, and right down the hall a cute 1/2 bathroom with pedestal sink. The 2nd floor has all 3 bedrooms with HUGE closets, a guest bathroom, and the master bathroom with a beautiful custom stained-glass window. The townhome is MOVE-IN-READY, in a great neighborhood, and ready for new occupants. IT WILL NOT LAST LONG!!!

10. 2019-08-29
    listed $150,000

    Show marketing remark (732 chars)

    Immaculate townhome in Venetian Village for sale! This 3 Bed / 2.5 Bath townhome has recently been renovated for its next owners - It has NEW exterior stucco - NEW paint inside & out - NEW lighting fixtures and plantation blinds throughout - NEW landscaping - a NEW refrigerator, and MUCH MORE! The home has beautiful vinyl wood floors on the first floor, with tile in the kitchen. The kitchen has a HUGE pantry, and right down the hall a cute 1/2 bathroom with pedestal sink. The 2nd floor has all 3 bedrooms with HUGE closets, a guest bathroom, and the master bathroom with a beautiful custom stained-glass window. The townhome is MOVE-IN-READY, in a great neighborhood, and ready for new occupants. IT WILL NOT LAST LONG!!!

11. 2007-07-10
    soldstatus $140,000
12. 2007-07-10
    soldstatus $140,000
13. 2007-03-08
    listed $142,500
14. 2005-02-28
    soldstatus $112,000
15. 2005-02-25
    soldstatus $112,000
16. 2005-01-11
    listed $112,000
17. 2003-02-26
    soldstatus $68,000
18. 2003-02-17
    soldstatus $68,000
19. 2003-01-23
    listed $68,000
20. 2001-03-20
    soldstatus $66,500
21. 2001-03-16
    soldstatus $66,500
22. 2001-01-25
    listed $65,000
23. 1999-02-01
    soldstatus $60,000
24. 1991-06-01
    soldstatus $47,900

ⓘ 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: $1,745 · $145/mo
• Projected year-2 tax: $1,745 · $145/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 16% 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: $23,540
• − Mortgage interest: −$10,643
• − Property taxes: −$1,745
• − Insurance: −$950
• − Repairs & maintenance: −$1,883
• − Management: −$1,883
• − Depreciation: −$5,527
• Taxable income: $908
• Est. tax owed @ 24.0%: −$218
• After-tax cash flow: $3,727/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

• Census place: Panama City, FL
• County: Bay County · 163,593 people
• City population: 91,445
• Metro: Panama City, FL
• Population (ZIP): 29,984
• Household income: $73,373
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1008.0

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 (67%)
• Race & ethnicity: White 67% Black 17% Two or more races 8% Hispanic / Latino 7% Native American 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 4% Lithuanian 2% Romanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 6% Arabic 1% French/Haitian/Cajun 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: ▼ -217.88%
• Current HPI: 262.7854
• Rent YoY: ▲ 1.24%
• 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

+296.7% since first listed

24 events — show timeline

• 2026-05-18 Pending — CPARMLS
• 2026-04-29 Listed $190,000 CPARMLS
• 2026-04-24 Relisted — CPARMLS
• 2026-04-24 Listing Removed — CPARMLS
• 2026-04-17 Listing Removed — CPARMLS
• 2025-05-21 Price Changed $179,900 CPARMLS
• 2025-04-18 Listed $199,900 CPARMLS
• 2019-11-22 Sold (Public Records) $150,000 Public Records
• 2019-11-20 Sold (MLS) $150,000 CPARMLS
• 2019-08-29 Listed $150,000 CPARMLS
• 2007-07-10 Sold (Public Records) $140,000 Public Records
• 2007-07-10 Sold (MLS) $140,000 CPARMLS
• 2007-03-08 Listed $142,500 CPARMLS
• 2005-02-28 Sold (Public Records) $112,000 Public Records
• 2005-02-25 Sold (MLS) $112,000 CPARMLS
• 2005-01-11 Listed $112,000 CPARMLS
• 2003-02-26 Sold (Public Records) $68,000 Public Records
• 2003-02-17 Sold (MLS) $68,000 CPARMLS
• 2003-01-23 Listed $68,000 CPARMLS
• 2001-03-20 Sold (Public Records) $66,500 Public Records
• 2001-03-16 Sold (MLS) $66,500 CPARMLS
• 2001-01-25 Listed $65,000 CPARMLS
• 1999-02-01 Sold (Public Records) $60,000 Public Records
• 1991-06-01 Sold (Public Records) $47,900 Public Records

Property tax history

+11.0%/yr

Latest (2025): $1,745 · +3.5% YoY. Source: county tax records.