COM1670-608 Plan · Callaway, FL 32404

$96,000

3 bd · 2.0 ba · 1,056 sqft · SingleFamily · 74 Days on market

Good condition $616/mo HOA · 37% of rent

---

Why this score? — see what drove the F 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 +7.5/15.0
• Schools +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• 1% rule +2.4/10.0
• Cash flow +1.7/30.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2026 Sunshine | COM1670-608 | 3 Bed / 2 Bath | 1,045 Sq Ft Brand new and move-in ready, this 2026 Sunshine singlewide is the perfect combination of modern style and smart, efficient living. Spanning 1,045 square feet across a 16' × 66' layout, this 3-bedroom, 2-bathroom home is thoughtfully designed to feel open, comfortable, and anything but ordinary. Step inside to a bright, open floorplan where the living room, dining, and kitchen flow seamlessly together - perfect for everyday living and entertaining alike. The showstopping entertainment wall features a built-in electric fireplace that adds warmth and ambiance without the hassle. The kitchen is equally impressive, outfitted with stainless steel appliances, soft-close cabinets, and everything you need from day one - because all appliances convey with the home. A ceiling fan in the living area keeps things comfortable year-round, and the large covered deck out front gives you the perfect spot to enjoy that Florida weather. Built to 2026 green construction standards, this home is energy-efficient, thoughtfully crafted, and sits in a desirable, pet-friendly community. Lot rent is affordable, and you get all the benefits of homeownership without the cost of land. Home only - land does not convey. Home sits on a rented lot.

Key facts

• Soft-close cabinets
• Open floorplan
• Entertainment wall

Tags

• OPEN FLOORPLAN
• ENTERTAINMENT WALL
• BUILT-IN ELECTRIC FIREPLACE
• STAINLESS STEEL APPLIANCES
• SOFT-CLOSE CABINETS
• LARGE COVERED DECK

🏗️ New construction. The $96,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $223,392.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $96k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-849 ($-10k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $96k).
• Recommended offer: $90k (6.0% below list) — sets the bar for market timing.
• Cap rate 1.7% vs local median 5.1% in Callaway — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 19 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 74 days — a 6% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price; HOA is 37% of rent.
• 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 $90,240 (6.0% 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 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
8. 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?
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 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: 0.74% ✗
• Cap rate: 1.73%
• Cash-on-cash: -16.29%
• DSCR: 0.27
• GRM: 11.2

CMA / ARV

• ARV (median comp): $223,392
• List price: $96,000
• Delta: -57.03%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.12% rent growth · sell at horizon

5-year hold

• IRR: -51.3%
• Equity multiple: -0.49×
• Total profit: $-92,972
• Equity at exit: $33,309

10-year hold

• IRR: —
• Equity multiple: -1.58×
• Total profit: $-161,147
• Equity at exit: $19,315

Cash invested: $62,550 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,659 high
• Mortgage (P&I): −$1,171
• Tax est. 1.5%: −$279 /mo · $3,351/yr
• Insurance: −$93
• HOA: −$616
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $-849

Break-even live

Break-even rent $2,734

Max offer price $100,489

Occupancy floor —

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: $55,848
• Closing costs: $6,702
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1128 S Gay Ave Lot 86 Panama City, FL	3.0	2.0	1216	$94,995	$78.12	20d	1	0.11mi
1128 S Gay Ave Lot V Panama City, FL	3.0	2.0	1152	$30,000	$26.04	20d	1	0.11mi
1128 S Gay Ave Lot 56 Panama City, FL	3.0	1.5	1216	$35,000	$28.78	20d	1	0.11mi
1128 S Gay Ave Lot N Panama City, FL	3.0	2.0	924	$40,000	$43.29	20d	1	0.11mi
5813 Hickory St Panama City, FL	3.0	2.0	1200	$1,950	$1.62	20d	1	0.79mi
509 Phillips Ct Panama City, FL	3.0	2.0	1411	$1,700	$1.20	13d	1	0.81mi
719 S Berthe Ave Unit 8 Panama City, FL	2.0	1.0	910	$1,000	$1.10	20d	1	0.95mi
322 S Burkett Dr Panama City, FL	1.0–2.0	1.0–2.0	600	$1,519	$2.53	13d	13	0.97mi
543 N 9th St Unit 543 Panama City, FL	2.0	1.0	850	$1,195	$1.41	13d	1	1.06mi
4828 Grimes St #3 Panama City, FL	2.0	1.0	850	$1,150	$1.35	20d	1	1.08mi
6328 Olokee St Panama City, FL	3.0	2.0	1131	$1,850	$1.64	13d	1	1.17mi
114 S Kimbrel Ave Panama City, FL	3.0	2.0	1400	$1,850	$1.32	20d	1	1.20mi
4837 S Lakewood Dr Panama City, FL	2.0	1.5	1116	$1,500	$1.34	20d	1	1.21mi
5805 Cherry St Panama City, FL	2.0	1.0	1025	$1,200	$1.17	13d	1	1.31mi
6600 Oakshore Dr Panama City, FL	1.0–3.0	1.0–2.0	1002	$2,325	$2.32	13d	57	1.39mi
4480 East Highway 98 Unit 1 Panama City, FL	2.0	1.5	972	$1,250	$1.29	20d	1	1.40mi
4480 E Highway 98 Panama City, FL	2.0	1.0	972	$1,250	$1.29	20d	1	1.40mi
6724 Chipewa St Unit 6724 Panama City, FL	2.0	1.0	1000	$1,125	$1.12	13d	1	1.42mi
129 Seneca Ave Panama City, FL	3.0	2.0	1449	$1,495	$1.03	13d	1	1.44mi

HOA detail

• Monthly dues: $616 · $7,392/yr
• Likely covers: electric

Listing history 18 events

1. 2026-06-19
   days on market $96,000 Active 74 DOM
2. 2026-06-18
   days on market $96,000 Active 73 DOM
3. 2026-06-17
   days on market $96,000 Active 72 DOM
4. 2026-06-16
   days on market $96,000 Active 71 DOM
5. 2026-06-15
   days on market $96,000 Active 70 DOM
6. 2026-06-14
   days on market $96,000 Active 68 DOM
7. 2026-06-13
   days on market $96,000 Active 67 DOM
8. 2026-06-10
   days on market $96,000 Active 65 DOM
9. 2026-06-09
   days on market $96,000 Active 64 DOM
10. 2026-06-08
    days on market $96,000 Active 63 DOM
11. 2026-06-07
    days on market $96,000 Active 62 DOM
12. 2026-06-05
    days on market $96,000 Active 59 DOM
13. 2026-06-03
    days on market $96,000 Active 58 DOM
14. 2026-06-02
    days on market $96,000 Active 57 DOM
15. 2026-06-01
    days on market $96,000 Active 56 DOM
16. 2026-05-31
    days on market $96,000 Active 55 DOM
17. 2026-05-30
    days on market $96,000 Active 54 DOM
18. 2026-04-06
    listed $96,000 Active 1299-char remark

    Show marketing remark (1299 chars)

    2026 Sunshine | COM1670-608 | 3 Bed / 2 Bath | 1,045 Sq Ft Brand new and move-in ready, this 2026 Sunshine singlewide is the perfect combination of modern style and smart, efficient living. Spanning 1,045 square feet across a 16' × 66' layout, this 3-bedroom, 2-bathroom home is thoughtfully designed to feel open, comfortable, and anything but ordinary. Step inside to a bright, open floorplan where the living room, dining, and kitchen flow seamlessly together - perfect for everyday living and entertaining alike. The showstopping entertainment wall features a built-in electric fireplace that adds warmth and ambiance without the hassle. The kitchen is equally impressive, outfitted with stainless steel appliances, soft-close cabinets, and everything you need from day one - because all appliances convey with the home. A ceiling fan in the living area keeps things comfortable year-round, and the large covered deck out front gives you the perfect spot to enjoy that Florida weather. Built to 2026 green construction standards, this home is energy-efficient, thoughtfully crafted, and sits in a desirable, pet-friendly community. Lot rent is affordable, and you get all the benefits of homeownership without the cost of land. Home only - land does not convey. Home sits on a rented lot.

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 23% 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: $19,906
• − Mortgage interest: −$12,513
• − Property taxes: −$3,351
• − Insurance: −$1,117
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − HOA: −$7,392
• − Depreciation: −$6,499
• Taxable loss: −$14,151
• Est. tax savings @ 24.0%: +$3,396
• After-tax cash flow: $-6,796/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 · 12 photos

Good 80/100 None rehab

This 2026 Sunshine singlewide is move-in ready with a good condition score and modern features. It offers a good investment opportunity with potential for minor updates to enhance curb appeal and property value.

Value-add opportunities

• Both Painting exterior siding — Fresh paint can enhance curb appeal and property value.
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers or renters.
• Both Add a small garden or flower bed near the front door — Improves curb appeal and can attract more buyers or renters.
• Both Install a small outdoor light fixture — Enhances curb appeal and can attract more buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers or renters. ↑
• Both Add a small garden or flower bed near the front door — Improves curb appeal and can attract more buyers or renters. ↑
• Both Install a small outdoor light fixture — Enhances curb appeal and can attract more buyers or renters. ↑

ⓘ 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 — 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

1 event — show timeline

• 2026-04-06 Listed $96,000 Zillow