1814 Arthur Ave Unit A & B · Panama City, FL 32401

$200,000

4 bd · 2.0 ba · 1,652 sqft · MultiFamily · 66 Days on market

Built 1950 Poor condition $121/sqft · at area comps Est $207k · at est.

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.9/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Looking for rental investment. This 5-bedroom 2 bath duplex Close to shopping, schools and beach offers 2 bedrooms on one side and 3 bedrooms on the other side. The roof has been replaced in 2018, and the plumbing has been updated on both sides. The flooring has been updated as well. The kitchen offers lots of space and good size bedrooms. Lots of property space for parking and additions. Currently units are leased. If important all information & measurements should be verified.

Key facts

• Close to schools
• Close to shopping
• Duplex

Tags

• DUPLEX
• CLOSE TO SHOPPING
• CLOSE TO SCHOOLS
• CLOSE TO BEACH
• PROPERTY SPACE FOR PARKING

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 1×3bd/1.0ba units multifamily listed at $200k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive. Per door: $650/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $188k (6.0% below list) — sets the bar for market timing.

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: Lucille Moore Elementary School (math 24% / reading 30%, grade F, #1,969 of 2,144 statewide, top 94%, 503 students, 71% FRL); Jinks Middle School (math 41% / reading 42%, grade F, #348 of 571 statewide, top 62%, 570 students, 70% FRL); Bay High School (math 37% / reading 34%, grade F, #367 of 667 statewide, top 57%, 1,255 students, 53% FRL) — zoned schools average 65% FRL vs 48% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 35% at this address vs 51% district-wide (-16 pts) — the specific schools serving this property underperform the Bay average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 262 active listings in the ZIP; 5 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 $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.
• At projected returns (-3.0% appreciation + 0.5% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 27y ago; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $125k; list at $200k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $188,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.70% ✓
• Cap rate: 14.10%
• Cash-on-cash: 27.87%
• DSCR: 2.24
• GRM: 4.9

CMA / ARV

• ARV (median comp): $206,597
• List price: $200,000
• Delta: -3.19%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.45% rent growth · sell at horizon

5-year hold

• IRR: 19.1%
• Equity multiple: 1.75×
• Total profit: $41,987
• Equity at exit: $29,821

10-year hold

• IRR: 25.6%
• Equity multiple: 2.97×
• Total profit: $110,310
• Equity at exit: $17,292

Cash invested: $56,000 (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 32401

• Home prices YoY: -32.9%
• Rents YoY: 0.5%
• Active inventory: 262
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $3,396 high
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$713
• Net cashflow: $1,301

Break-even live

Break-even rent $1,750

Max offer price $200,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,439	-5% $1,370	+0% $1,301	+5% $1,232	+10% $1,162
Rent	-10% $1,032	-5% $1,167	+0% $1,301	+5% $1,435	+10% $1,569
Rate	-1.0pp $1,401	-0.5pp $1,352	base $1,301	+0.5pp $1,249	+1.0pp $1,196

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,625
1× unit	3	1	$1,772
Total (2 units)			$3,396

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 Drake Ave Panama City, FL	3.0	2.0	1130	$1,850	$1.64	22d	1	0.22mi
2602 W 12th St Panama City, FL	3.0	2.0	1400	$2,095	$1.50	22d	1	0.83mi
1113 Arthur Ave Panama City, FL	3.0	2.5	2000	$2,295	$1.15	22d	1	0.87mi
1827 Balboa Ave Panama City, FL	3.0	2.5	1440	$1,800	$1.25	14d	1	1.19mi
4324 W 20th St Panama City, FL	1.0–3.0	1.0–2.5	1000	$1,630	$1.63	14d	12	1.44mi

Listing history 25 events

1. 2026-06-21
   days on market $200,000 Active 66 DOM
2. 2026-06-19
   days on market $200,000 Active 64 DOM
3. 2026-06-18
   days on market $200,000 Active 63 DOM
4. 2026-06-17
   days on market $200,000 Active 62 DOM
5. 2026-06-16
   days on market $200,000 Active 61 DOM
6. 2026-06-15
   days on market $200,000 Active 60 DOM
7. 2026-06-14
   days on market $200,000 Active 58 DOM
8. 2026-06-13
   days on market $200,000 Active 57 DOM
9. 2026-06-10
   days on market $200,000 Active 55 DOM
10. 2026-06-09
    days on market $200,000 Active 54 DOM
11. 2026-06-08
    days on market $200,000 Active 53 DOM
12. 2026-06-07
    days on market $200,000 Active 52 DOM
13. 2026-06-05
    pricedays on market $200,000 Active 49 DOM
14. 2026-06-03
    days on market $220,000 Active 48 DOM
15. 2026-06-02
    days on market $220,000 Active 47 DOM
16. 2026-06-01
    days on market $220,000 Active 46 DOM
17. 2026-05-31
    days on market $220,000 Active 45 DOM
18. 2026-05-30
    days on market $220,000 Active 44 DOM
19. 2026-04-29
    status Active 489-char remark

    Show marketing remark (489 chars)

    Looking for rental investment. This 5-bedroom 2 bath duplex Close to shopping, schools and beach offers 2 bedrooms on one side and 3 bedrooms on the other side. The roof has been replaced in 2018, and the plumbing has been updated on both sides. The flooring has been updated as well. The kitchen offers lots of space and good size bedrooms. Lots of property space for parking and additions. Currently units are leased. If important all information & measurements should be verified.

20. 2026-04-02
    status Pending 489-char remark

    Show marketing remark (489 chars)

    Looking for rental investment. This 5-bedroom 2 bath duplex Close to shopping, schools and beach offers 2 bedrooms on one side and 3 bedrooms on the other side. The roof has been replaced in 2018, and the plumbing has been updated on both sides. The flooring has been updated as well. The kitchen offers lots of space and good size bedrooms. Lots of property space for parking and additions. Currently units are leased. If important all information & measurements should be verified.

21. 2026-03-20
    listed $220,000 Active 489-char remark

    Show marketing remark (489 chars)

    Looking for rental investment. This 5-bedroom 2 bath duplex Close to shopping, schools and beach offers 2 bedrooms on one side and 3 bedrooms on the other side. The roof has been replaced in 2018, and the plumbing has been updated on both sides. The flooring has been updated as well. The kitchen offers lots of space and good size bedrooms. Lots of property space for parking and additions. Currently units are leased. If important all information & measurements should be verified.

22. 2006-11-30
    soldstatus $125,000 372-char remark

    Show marketing remark (372 chars)

    ALL AGES AND SIZES ARE APPROXIMATE BEING SOLD AS IS! SOME INFO TAKEN FROM THE TAX RECORD. IF IMPORTANT PLEASE VERIFY!!!!!THIS DUPLEX OFFERS TWO BEDROOMS AND 1 BATH IN UNIT A AND 3 BEDROOMS AND 1 BATH IN UNIT B. THIS UNIT IS PERFECT FOR AN INVESTOR LOOKING FOR A GREAT RENTAL. BOTH UNITS ARE BEING SOLD TOGETHER AS IS. DON'T MISS OUT ON THIS GREAT DEAL! IT WON'T LAST LONG.

23. 2006-04-17
    listed $129,900 372-char remark

    Show marketing remark (372 chars)

    ALL AGES AND SIZES ARE APPROXIMATE BEING SOLD AS IS! SOME INFO TAKEN FROM THE TAX RECORD. IF IMPORTANT PLEASE VERIFY!!!!!THIS DUPLEX OFFERS TWO BEDROOMS AND 1 BATH IN UNIT A AND 3 BEDROOMS AND 1 BATH IN UNIT B. THIS UNIT IS PERFECT FOR AN INVESTOR LOOKING FOR A GREAT RENTAL. BOTH UNITS ARE BEING SOLD TOGETHER AS IS. DON'T MISS OUT ON THIS GREAT DEAL! IT WON'T LAST LONG.

24. 1999-08-31
    soldstatus $34,000
25. 1999-07-23
    listed $36,900

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $40,752
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$3,260
• − Management: −$3,260
• − Depreciation: −$5,818
• Taxable income: $13,210
• Est. tax owed @ 24.0%: −$3,170
• After-tax cash flow: $12,438/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 · 13 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to its exterior and interior, including roof repair, siding replacement, landscaping, and interior repairs. Significant value can be added through these improvements, making it a good investment opportunity.

Repairs flagged

• Major roof — Significant damage and possible leaks are visible.
• Major exterior siding — The siding is damaged and peeling.
• Major exterior landscaping — The landscaping is overgrown and in need of maintenance.
• Major interior walls and ceilings — Significant wear and tear is visible.
• Minor interior flooring — The flooring appears to be in good condition.
• Major interior kitchen and bathrooms — Significant wear and tear is visible.

Value-add opportunities

• Both exterior roof repair/replacement — A new roof would significantly improve the home's appearance and functionality, attracting both buyers and renters.
• Both exterior siding repair/replacement — A new siding would improve the home's appearance and increase its value.
• Both exterior landscaping and yard maintenance — A well-maintained yard would improve the home's curb appeal and attract more potential buyers and renters.
• Both interior wall and ceiling repair — Repairing the walls and ceilings would improve the home's appearance and functionality, attracting both buyers and renters.
• Both interior kitchen and bathroom updates — Updating the kitchen and bathrooms would improve the home's functionality and appearance, attracting both buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage and possible leaks are visible.	Major	$15,000–50,000
exterior siding · The siding is damaged and peeling.	Major	$15,000–50,000
exterior landscaping · The landscaping is overgrown and in need of maintenance.	Major	$15,000–50,000
interior walls and ceilings · Significant wear and tear is visible.	Major	$15,000–50,000
interior flooring · The flooring appears to be in good condition.	Minor	$500–3,000
interior kitchen and bathrooms · Significant wear and tear is visible.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$75,500–253,000

Value-add ROI direction

• Both exterior roof repair/replacement — A new roof would significantly improve the home's appearance and functionality, attracting both buyers and renters. ↑
• Both exterior siding repair/replacement — A new siding would improve the home's appearance and increase its value. ↑
• Both exterior landscaping and yard maintenance — A well-maintained yard would improve the home's curb appeal and attract more potential buyers and renters. ↑
• Both interior wall and ceiling repair — Repairing the walls and ceilings would improve the home's appearance and functionality, attracting both buyers and renters. ↑
• Both interior kitchen and bathroom updates — Updating the kitchen and bathrooms would improve the home's functionality and appearance, attracting both buyers and 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 — 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): 18,947
• Household income: $52,523
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 935.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 23% Hispanic / Latino 11% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% German/W. Germanic 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: ▼ -142.12%
• Current HPI: 290.3312
• Rent YoY: ▲ 0.45%
• 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

+496.2% since first listed

7 events — show timeline

• 2026-04-29 Relisted — CPARMLS
• 2026-04-02 Pending — CPARMLS
• 2026-03-20 Listed $220,000 CPARMLS
• 2006-11-30 Sold (MLS) $125,000 CPARMLS
• 2006-04-17 Listed $129,900 CPARMLS
• 1999-08-31 Sold (MLS) $34,000 CPARMLS
• 1999-07-23 Listed $36,900 CPARMLS