1012 Virginia Ct · Callaway, FL 32404

$5,000

2 bd · 1.0 ba · 1,188 sqft · SingleFamily public records · 10 Days on market

Built 1982

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Entered for comp purposes

Key facts

• Garage
• Built 1982
• Listed 9 days

Property features AI

Exterior

• Parking: 1-car garage
• Home design: Residential property
• Construction: Lot size approximately 0.29 acres
• Exterior features: Lot zoned R-2

Interior

• Bathrooms: One full bathroom
• Interior features: 1 full bathroom

🏷️ Possibly a rental listed for sale. The $5,000 price doesn't fit this home's estimated sale value (~$229,284) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $5k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $5k).
• Cap rate 269.9% 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+, 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: Callaway Elementary School (math 37% / reading 42%, grade F, #1,513 of 2,144 statewide, top 73%, 511 students, 72% FRL); Rutherford High School (math 24% / reading 29%, grade F, #489 of 667 statewide, top 74%, 1,337 students, 63% FRL) — zoned schools average 68% FRL vs 48% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 51% district-wide (-18 pts) — the specific schools serving this property underperform the Bay average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.1%/yr); 983 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $35 of loan paydown is wiped out by about $150 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 $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 19y 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.

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 $5,000

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 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?
3. 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?
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: 28.69% ✓
• Cap rate: 269.95%
• Cash-on-cash: 941.62%
• DSCR: 42.90
• GRM: 0.3

CMA / ARV

• ARV (on-the-fly): $229,284
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
925 Hurst Ct	0.12mi	3/1.0 (+1)	1,176 (-1%)	11mo	$185,000	$157	79
7169 Fox Meadow Dr	0.30mi	3/2.0 (+1)	1,365 (+15%)	2mo	$248,000	$182	51
6724 E 6th St	0.75mi	3/2.0 (+1)	1,218 (+2%)	14mo	$263,000	$216	40
514 J H Crews Cir	0.70mi	3/2.0 (+1)	1,346 (+13%)	17mo	$260,000	$193	22

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: —
• Equity multiple: 48.51×
• Total profit: $66,515
• Equity at exit: $746

10-year hold

• IRR: —
• Equity multiple: 99.27×
• Total profit: $137,579
• Equity at exit: $432

Cash invested: $1,400 (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: 983
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $1,434 high
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $1,099

Break-even live

Break-even rent $44

Max offer price $5,000

Occupancy floor 18%

Sensitivity live

Price	-10% $1,102	-5% $1,100	+0% $1,099	+5% $1,097	+10% $1,095
Rent	-10% $985	-5% $1,042	+0% $1,099	+5% $1,155	+10% $1,212
Rate	-1.0pp $1,101	-0.5pp $1,100	base $1,099	+0.5pp $1,097	+1.0pp $1,096

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
263 Nelle Ave Panama City, FL	3.0	2.0	1294	$1,690	$1.31	23d	1	0.95mi
291 Sukoshi Dr Unit A Panama City, FL	2.0	1.5	918	$1,495	$1.63	23d	1	1.09mi
285 Sukoshi Dr Unit C Panama City, FL	2.0	1.5	916	$1,250	$1.36	15d	1	1.13mi
7006 Lois St Unit B Panama City, FL	2.0	1.0	1000	$1,000	$1.00	23d	1	1.22mi
116 Christie Ln Panama City, FL	3.0	2.0	1092	$1,550	$1.42	23d	1	1.29mi
168 N Comet Ave Panama City, FL	2.0	2.0	950	$1,100	$1.16	23d	1	1.44mi
6121 Harvey St Apt 16 Panama City, FL	2.0	1.5	1000	$1,090	$1.09	23d	1	1.44mi
6121 Harvey St Unit 8 Panama City, FL	2.0	1.5	1200	$1,050	$0.88	23d	1	1.44mi
6101 Harvey St #3 Panama City, FL	2.0	1.5	1108	$1,050	$0.95	23d	1	1.46mi

Listing history 8 events

1. 2026-06-15
   days on market $5,000 Active 10 DOM
2. 2026-06-14
   days on market $5,000 Active 8 DOM
3. 2026-06-13
   days on market $5,000 Active 7 DOM
4. 2026-06-10
   days on market $5,000 Active 5 DOM
5. 2026-06-09
   days on market $5,000 Active 4 DOM
6. 2026-06-08
   days on market $5,000 Active 3 DOM
7. 2026-06-07
   remarks 318-char remark
8. 2026-06-07
   listed $5,000 Active 2 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $17,212
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$25
• − Repairs & maintenance: −$1,377
• − Management: −$1,377
• − Depreciation: −$145
• Taxable income: $13,932
• Est. tax owed @ 24.0%: −$3,344
• After-tax cash flow: $9,839/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

• 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

-88.1% since first listed

16 events — show timeline

• 2026-06-05 Listed $5,000 NFMLS
• 2025-02-07 Listing Removed — CPARMLS
• 2025-02-05 Price Changed $235,000 CPARMLS
• 2025-01-07 Price Changed $245,500 CPARMLS
• 2024-12-12 Listed $250,000 CPARMLS
• 2022-08-11 Sold (Public Records) $160,000 Public Records
• 2022-08-11 Sold (MLS) $160,000 CPARMLS
• 2022-06-28 Listed $160,000 CPARMLS
• 2018-12-06 Sold (Public Records) $138,000 Public Records
• 2018-12-05 Sold (MLS) $138,000 CPARMLS
• 2018-08-25 Listed $135,000 CPARMLS
• 2007-10-30 Sold (Public Records) $126,000 Public Records
• 2007-10-29 Sold (MLS) $126,000 CPARMLS
• 2007-09-04 Listed $126,000 CPARMLS
• 2000-02-02 Sold (Public Records) $93,000 Public Records
• 1987-08-01 Sold (Public Records) $42,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $1,304 · +3.8% YoY. Source: county tax records.