209 N Kimbrel Ave · Callaway, FL 32404

$180,000

2 bd · 2.0 ba · 1,216 sqft · Townhouse public records · 261 Days on market

Built 1983 $148/sqft · 14% below area Est $210k · 14% under

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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).

• ARV discount +14.0/15.0
• Cash flow +12.1/30.0
• Schools +4.3/10.0
• DSCR +3.6/10.0
• Livability +3.2/5.0
• 1% rule +3.0/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect for first-time buyers or savvy investors, this move-in ready two-bed, 1.5-bath end unit townhome offers 1,216 square feet of comfortable living in the heart of Panama City. Just 11 minutes from Tyndall Air Force Base, this home combines convenience with a welcoming coastal lifestyle. The main floor features a spacious living room with luxury vinyl plank flooring, seamlessly connecting to an open kitchen and dining area. Sliding doors lead to a covered back porch with attached storage, perfect for outdoor relaxation and additional utility. The ground floor also includes a laundry room with a new washer and dryer, a convenient half bath and extra storage beneath the stairs. Upstairs, the master bedroom boasts double closets and a large window overlooking the backyard, while the additional bedroom offers a similar oversized window with a front yard view. A 2019 metal roof, 2016 HVAC system and water heater ensure this home is well-maintained and energy-efficient. Enjoy the privacy of a fully fenced yard and the ease of a home with no HOA fees. Whether you're looking for a cozy primary residence or a lucrative rental property, this charming townhome in Panama City is an opportunity not to be missed.

Key facts

• Half bath
• End unit townhome
• Laundry room

Tags

• END UNIT TOWNHOME
• COVERED BACK PORCH
• ATTACHED STORAGE
• LAUNDRY ROOM
• NEW WASHER AND DRYER
• HALF BATH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $180k.

Deal economics

• At list price, monthly cash flow is $-166 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (20.3% below list).
• Recommended offer: $143k (20.3% below list) — sets the bar for 1% rule.

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; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 261 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 20y 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 $142k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $143,457 (20.3% 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. It's been on market 261 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.80% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.97%
• DSCR: 0.96
• GRM: 10.5

CMA / ARV

• ARV (median comp): $210,443
• List price: $180,000
• Delta: -14.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 S Jan Dr	0.42mi	3/2.0 (+1)	1,230 (+1%)	2mo	$199,000	$162	72
5854 Tyndall Pl	0.44mi	3/3.0 (+1)	1,225 (+1%)	16mo	$214,850	$175	56
5862 Tyndall Pl	0.45mi	3/3.0 (+1)	1,320 (+9%)	0mo	$237,000	$180	56
228 Callaway Chase Ln	0.31mi	3/2.5 (+1)	1,166 (-4%)	22mo	$200,000	$172	54
5852 Tyndall Pl	0.43mi	3/3.0 (+1)	1,306 (+7%)	8mo	$224,850	$172	52
5850 Tyndall Pl	0.43mi	3/3.0 (+1)	1,306 (+7%)	8mo	$225,350	$173	52
122 Kacy Ln	0.55mi	3/2.0 (+1)	1,092 (-10%)	2mo	$145,000	$133	51
5860 Tyndall Pl	0.44mi	3/3.0 (+1)	1,306 (+7%)	10mo	$225,350	$173	50
5858 Tyndall Pl	0.44mi	3/3.0 (+1)	1,306 (+7%)	15mo	$209,900	$161	46
5856 Tyndall Pl	0.44mi	3/3.0 (+1)	1,306 (+7%)	15mo	$212,565	$163	45
6704 Olokee St	0.66mi	2/1.5	1,144 (-6%)	23mo	$170,000	$149	38

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: -25.1%
• Equity multiple: 0.16×
• Total profit: $-42,333
• Equity at exit: $26,839

10-year hold

• IRR: -28.3%
• Equity multiple: -0.21×
• Total profit: $-60,756
• Equity at exit: $15,563

Cash invested: $50,400 (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: 10.5×

Monthly cashflow live

• Estimated rent: $1,435 high
• Mortgage (P&I): −$944
• Tax from tax record: −$155 /mo · $1,859/yr
• Insurance: −$75
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $-166

Break-even live

Break-even rent $1,644

Max offer price $150,719

Occupancy floor —

Sensitivity live

Price	-10% $-64	-5% $-115	+0% $-166	+5% $-217	+10% $-268
Rent	-10% $-279	-5% $-222	+0% $-166	+5% $-109	+10% $-52
Rate	-1.0pp $-75	-0.5pp $-120	base $-166	+0.5pp $-212	+1.0pp $-260

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6101 Harvey St #3 Panama City, FL	2.0	1.5	1108	$1,050	$0.95	21d	1	0.15mi
6121 Harvey St Unit 8 Panama City, FL	2.0	1.5	1200	$1,050	$0.88	21d	1	0.17mi
6121 Harvey St Apt 16 Panama City, FL	2.0	1.5	1000	$1,090	$1.09	21d	1	0.17mi
168 N Comet Ave Panama City, FL	2.0	2.0	950	$1,100	$1.16	21d	1	0.29mi
229 Callaway Chase Ln Panama City, FL	3.0	2.5	1200	$1,650	$1.38	14d	1	0.32mi
114 S Kimbrel Ave Panama City, FL	3.0	2.0	1400	$1,850	$1.32	21d	1	0.35mi
5805 Cherry St Panama City, FL	2.0	1.0	1025	$1,200	$1.17	14d	1	0.38mi
108 N Anita Dr Callaway, FL	1.0	1.0	700	$1,200	$1.71	21d	1	0.38mi
6328 Olokee St Panama City, FL	3.0	2.0	1131	$1,850	$1.64	14d	1	0.49mi
116 Christie Ln Panama City, FL	3.0	2.0	1092	$1,550	$1.42	21d	1	0.59mi
420 Raven Ln Panama City, FL	3.0	2.0	1251	$1,750	$1.40	21d	1	0.60mi
6724 Chipewa St Unit 6724 Panama City, FL	2.0	1.0	1000	$1,125	$1.12	14d	1	0.60mi
322 S Burkett Dr Panama City, FL	1.0–2.0	1.0–2.0	600	$1,519	$2.53	14d	13	0.69mi
7006 Lois St Unit B Panama City, FL	2.0	1.0	1000	$1,000	$1.00	21d	1	0.71mi
129 Seneca Ave Panama City, FL	3.0	2.0	1449	$1,495	$1.03	14d	1	0.77mi
5813 Hickory St Panama City, FL	3.0	2.0	1200	$1,950	$1.62	21d	1	0.77mi
526 Camellia Ave Panama City, FL	3.0	2.0	1375	$1,950	$1.42	21d	1	0.84mi
5101 Willow St Panama City, FL	3.0	2.0	1099	$1,500	$1.36	14d	1	0.92mi
208 North Highway 22 A Unit 33 Panama City, FL	3.0	2.0	1080	$1,350	$1.25	21d	1	0.92mi
509 Phillips Ct Panama City, FL	3.0	2.0	1411	$1,700	$1.20	14d	1	1.00mi
149 North Highway 22 A Unit 5 Panama City, FL	2.0	1.0	900	$1,140	$1.27	14d	1	1.03mi
4905 Alameda St Unit 1 Panama City, FL	3.0	2.0	942	$1,295	$1.37	21d	1	1.06mi
719 S Berthe Ave Unit 8 Panama City, FL	2.0	1.0	910	$1,000	$1.10	21d	1	1.16mi
263 Nelle Ave Panama City, FL	3.0	2.0	1294	$1,690	$1.31	21d	1	1.19mi
4837 S Lakewood Dr Panama City, FL	2.0	1.5	1116	$1,500	$1.34	21d	1	1.31mi
7727 Betty Louise Dr Panama City, FL	3.0	2.0	1430	$1,950	$1.36	21d	1	1.37mi
543 N 9th St Unit 543 Panama City, FL	2.0	1.0	850	$1,195	$1.41	14d	1	1.42mi
285 Sukoshi Dr Unit C Panama City, FL	2.0	1.5	916	$1,250	$1.36	14d	1	1.43mi
291 Sukoshi Dr Unit A Panama City, FL	2.0	1.5	918	$1,495	$1.63	21d	1	1.43mi
7709 Betty Louise Dr Panama City, FL	3.0	2.0	1310	$1,800	$1.37	21d	1	1.44mi
4828 Grimes St #3 Panama City, FL	2.0	1.0	850	$1,150	$1.35	21d	1	1.45mi
5117 E 10th St Apt A Panama City, FL	2.0	1.5	936	$1,200	$1.28	14d	1	1.45mi
5117 E 10th St Unit D Panama City, FL	2.0	1.5	950	$1,250	$1.32	14d	1	1.46mi

Listing history 42 events

1. 2026-06-19
   days on market $180,000 Active 261 DOM
2. 2026-06-18
   days on market $180,000 Active 260 DOM
3. 2026-06-17
   days on market $180,000 Active 259 DOM
4. 2026-06-16
   days on market $180,000 Active 258 DOM
5. 2026-06-15
   days on market $180,000 Active 257 DOM
6. 2026-06-14
   days on market $180,000 Active 255 DOM
7. 2026-06-13
   days on market $180,000 Active 254 DOM
8. 2026-06-10
   days on market $180,000 Active 252 DOM
9. 2026-06-09
   days on market $180,000 Active 251 DOM
10. 2026-06-08
    days on market $180,000 Active 250 DOM
11. 2026-06-07
    days on market $180,000 Active 249 DOM
12. 2026-06-05
    days on market $180,000 Active 246 DOM
13. 2026-06-03
    days on market $180,000 Active 245 DOM
14. 2026-06-02
    days on market $180,000 Active 244 DOM
15. 2026-06-01
    days on market $180,000 Active 243 DOM
16. 2026-05-31
    days on market $180,000 Active 242 DOM
17. 2026-05-30
    days on market $180,000 Active 241 DOM
18. 2025-10-24
    historical $1,300
19. 2025-10-01
    listed $180,000 Active 1222-char remark

    Show marketing remark (1222 chars)

    Perfect for first-time buyers or savvy investors, this move-in ready two-bed, 1.5-bath end unit townhome offers 1,216 square feet of comfortable living in the heart of Panama City. Just 11 minutes from Tyndall Air Force Base, this home combines convenience with a welcoming coastal lifestyle. The main floor features a spacious living room with luxury vinyl plank flooring, seamlessly connecting to an open kitchen and dining area. Sliding doors lead to a covered back porch with attached storage, perfect for outdoor relaxation and additional utility. The ground floor also includes a laundry room with a new washer and dryer, a convenient half bath and extra storage beneath the stairs. Upstairs, the master bedroom boasts double closets and a large window overlooking the backyard, while the additional bedroom offers a similar oversized window with a front yard view. A 2019 metal roof, 2016 HVAC system and water heater ensure this home is well-maintained and energy-efficient. Enjoy the privacy of a fully fenced yard and the ease of a home with no HOA fees. Whether you're looking for a cozy primary residence or a lucrative rental property, this charming townhome in Panama City is an opportunity not to be missed.

20. 2025-09-19
    price $1,300
21. 2025-09-06
    listed $1,400
22. 2025-07-11
    historical
23. 2024-10-29
    price $160,000
24. 2024-07-11
    listed $180,000 Active
25. 2022-08-01
    price $1,325
26. 2022-06-03
    soldstatus $142,000 Closed
27. 2022-04-20
    status Pending
28. 2022-04-15
    listed $140,000 Active
29. 2021-12-14
    historical
30. 2021-12-14
    historical
31. 2021-12-14
    historical
32. 2016-09-27
    soldstatus $75,100
33. 2016-09-26
    soldstatus $75,000
34. 2016-07-15
    listed $74,999
35. 2012-06-18
    listed $67,900
36. 2011-02-17
    listed $67,900
37. 2010-05-18
    soldstatus $55,000
38. 2010-05-13
    soldstatus $55,000
39. 2010-02-24
    listed $49,900
40. 2008-01-09
    listed $61,900
41. 2006-12-11
    soldstatus $284,900
42. 2006-11-02
    listed $284,900

ⓘ 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: $1,859 · $155/mo
• Projected year-2 tax: $1,859 · $155/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 6/10 Major FEMA zone A · 71% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 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: $17,215
• − Mortgage interest: −$10,083
• − Property taxes: −$1,859
• − Insurance: −$2,402
• − Repairs & maintenance: −$1,377
• − Management: −$1,377
• − Depreciation: −$5,236
• Taxable loss: −$5,120
• Est. tax savings @ 24.0%: +$1,229
• After-tax cash flow: $-760/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

-99.5% since first listed

25 events — show timeline

• 2025-10-24 Rental Removed $1,300 APPFOLIO
• 2025-10-01 Listed $180,000 ECAR
• 2025-09-19 Price Changed $1,300 APPFOLIO
• 2025-09-06 Listed for Rent $1,400 APPFOLIO
• 2025-07-11 Listing Removed — CPARMLS
• 2024-10-29 Price Changed $160,000 CPARMLS
• 2024-07-11 Listed $180,000 CPARMLS
• 2022-08-01 Price Changed $1,325 RENT.
• 2022-06-03 Sold (MLS) $142,000 CPARMLS
• 2022-04-20 Pending — CPARMLS
• 2022-04-15 Listed $140,000 CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2016-09-27 Sold (Public Records) $75,100 Public Records
• 2016-09-26 Sold (MLS) $75,000 CPARMLS
• 2016-07-15 Listed $74,999 CPARMLS
• 2012-06-18 Listed $67,900 CPARMLS
• 2011-02-17 Listed $67,900 CPARMLS
• 2010-05-18 Sold (Public Records) $55,000 Public Records
• 2010-05-13 Sold (MLS) $55,000 CPARMLS
• 2010-02-24 Listed $49,900 CPARMLS
• 2008-01-09 Listed $61,900 CPARMLS
• 2006-12-11 Sold (MLS) $284,900 CPARMLS
• 2006-11-02 Listed $284,900 CPARMLS

Property tax history

+9.1%/yr

Latest (2025): $1,859 · +9.3% YoY. Source: county tax records.