908 Cone Ave · Panama City, FL 32401

$124,900

2 bd · 1.0 ba · 988 sqft · SingleFamily public records · 2 Days on market

Built 1938 0.33 ac lot $126/sqft · 40% below area Est $209k · 40% under

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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 +27.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.6/10.0
• 1% rule +7.3/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for an investment property already generating revenue? Currently renting for $1,100 monthly through the end of July. TENANT OCCUPIED. ALL SHOWINGS REQUIRE A 24 HOUR NOTICE. All measurements and items of importance are to be confirmed by buyer or buyer agent.

Key facts

• 0.33 acre lot
• Built 1938
• Listed 2 days

Property features AI

Exterior

• Home design: Single-story (first floor rooms listed)
• Construction: Mobile dimension units listed in feet
• Exterior features: Lot dimensions approximately 100 x 143

Interior

• Bedrooms: Two bedrooms on the first floor
• Bathrooms: 1 full bathroom
• Interior features: Total of 3 rooms; Living room on the first floor

🏷️ Possibly a rental listed for sale. The $124,900 price doesn't fit this home's estimated sale value (~$208,889) 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 $125k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 9.8% 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.
• Market conditions: Rents flat; 261 active listings in the ZIP; 14 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).
• This rent runs 35% of the median local income ($53k/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 $864 of loan paydown is wiped out by about $4k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 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 $50k; list at $125k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1938 — 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 $124,900

Questions for the listing agent

1. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.23% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.69%
• DSCR: 1.56
• GRM: 6.8

CMA / ARV

• ARV (median comp): $208,889
• List price: $124,900
• Delta: -40.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 E 8th St	0.21mi	3/2.0 (+1)	1,000 (+1%)	1mo	$249,000	$249	78
530 E 7Th Ct	0.30mi	3/1.0 (+1)	1,004 (+2%)	8mo	$120,000	$120	72
1017 E Hamilton Ave	0.25mi	2/1.0	856 (-13%)	5mo	$258,000	$301	62
601 E 4th Ct	0.64mi	3/1.0 (+1)	1,040 (+5%)	1mo	$254,000	$244	56
718 E 12th St	0.52mi	2/2.0	910 (-8%)	5mo	$190,000	$209	54
524 E 4th Ct	0.64mi	3/1.0 (+1)	912 (-8%)	3mo	$276,000	$303	50
616 E 4Th Ct	0.68mi	2/2.0	1,040 (+5%)	10mo	$175,000	$168	47
815 Premier Dr	0.69mi	2/2.0	1,042 (+6%)	10mo	$162,500	$156	46
1210 Hamilton Ave	0.44mi	3/2.0 (+1)	1,122 (+14%)	7mo	$255,000	$227	42
910 E 9th Ct	0.55mi	3/2.0 (+1)	1,111 (+12%)	5mo	$225,000	$203	41
1208 Louisiana Ave	0.46mi	3/2.0 (+1)	1,122 (+14%)	8mo	$125,000	$111	41
1332 N Palo Alto Ave	0.69mi	3/1.0 (+1)	1,134 (+15%)	4mo	$150,000	$132	35

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 · 0.45% rent growth · sell at horizon

5-year hold

• IRR: -0.4%
• Equity multiple: 0.99×
• Total profit: $-511
• Equity at exit: $18,623

10-year hold

• IRR: 6.5%
• Equity multiple: 1.43×
• Total profit: $14,951
• Equity at exit: $10,799

Cash invested: $34,972 (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: 261
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,537 high
• Mortgage (P&I): −$655
• Tax from tax record: −$137 /mo · $1,642/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $370

Break-even live

Break-even rent $1,068

Max offer price $124,900

Occupancy floor 71%

Sensitivity live

Price	-10% $441	-5% $405	+0% $370	+5% $335	+10% $299
Rent	-10% $249	-5% $309	+0% $370	+5% $431	+10% $491
Rate	-1.0pp $433	-0.5pp $402	base $370	+0.5pp $338	+1.0pp $305

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1114 Mc Kenzie Ave Unit 1 Panama City, FL	2.0	1.0	880	$1,850	$2.10	22d	1	0.31mi
606 E 13th St Unit 1 Panama City, FL	2.0	1.0	700	$1,250	$1.79	22d	1	0.50mi
388 Massalina Dr Panama City, FL	2.0	2.0	800	$1,800	$2.25	14d	1	0.69mi
265 15th St Panama City, FL	1.0–3.0	1.0–2.0	967	$1,252	$1.29	14d	4	0.83mi
335 Massalina Dr Panama City, FL	1.0	1.0	742	$1,200	$1.62	14d	1	0.85mi
329 N Palo Alto Ave Unit B Panama City, FL	1.0	1.0	800	$750	$0.94	22d	1	0.93mi
307 Wilson Ave Unit 1 Panama City, FL	1.0	1.0	570	$1,345	$2.36	22d	1	0.93mi
1525 Oak Ave Unit B Panama City, FL	1.0	1.0	540	$1,200	$2.22	22d	1	0.94mi
400 E 19th St Unit A1 Panama City, FL	2.0	2.0	785	$1,095	$1.39	14d	1	1.19mi
603 E 2nd St Panama City, FL	2.0	1.0	900	$1,300	$1.44	22d	1	1.20mi
725 Sherman Ave Unit B Panama City, FL	3.0	1.0	878	$1,250	$1.42	22d	1	1.33mi
316 Cherry St #24 Panama City, FL	2.0	2.0	860	$1,800	$2.09	14d	1	1.33mi
2002 Wilson Ave Panama City, FL	1.0–3.0	1.0–2.0	977	$1,854	$1.90	14d	25	1.36mi
2121 Harrison Ave Panama City, FL	1.0–2.0	1.0–2.0	800	$1,550	$1.94	22d	13	1.44mi

Listing history 14 events

1. 2026-05-16
   status Pending 302-char remark
2. 2026-05-14
   listed $124,900 Active 302-char remark
3. 2021-12-14
   historical
4. 2021-12-14
   historical
5. 2017-10-23
   soldstatus $50,000
6. 2017-10-13
   soldstatus $50,000
7. 2017-08-27
   listed $65,600
8. 2009-09-30
   soldstatus $57,000
9. 2009-07-09
   listed $56,900
10. 2007-08-27
    listed $110,000
11. 2007-07-30
    soldstatus $146,000
12. 2006-12-13
    listed $138,995
13. 2006-04-28
    soldstatus $35,000
14. 2006-04-04
    listed $60,000

ⓘ 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: $1,642 · $137/mo
• Projected year-2 tax: $1,642 · $137/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $18,438
• − Mortgage interest: −$6,996
• − Property taxes: −$1,642
• − Insurance: −$624
• − Repairs & maintenance: −$1,475
• − Management: −$1,475
• − Depreciation: −$3,633
• Taxable income: $2,591
• Est. tax owed @ 24.0%: −$622
• After-tax cash flow: $3,817/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): 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

+108.2% since first listed

14 events — show timeline

• 2026-05-16 Pending — CPARMLS
• 2026-05-14 Listed $124,900 CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2017-10-23 Sold (Public Records) $50,000 Public Records
• 2017-10-13 Sold (MLS) $50,000 CPARMLS
• 2017-08-27 Listed $65,600 CPARMLS
• 2009-09-30 Sold (MLS) $57,000 CPARMLS
• 2009-07-09 Listed $56,900 CPARMLS
• 2007-08-27 Listed $110,000 CPARMLS
• 2007-07-30 Sold (Public Records) $146,000 Public Records
• 2006-12-13 Listed $138,995 CPARMLS
• 2006-04-28 Sold (MLS) $35,000 CPARMLS
• 2006-04-04 Listed $60,000 CPARMLS

Property tax history

+11.9%/yr

Latest (2025): $1,642 · +5.3% YoY. Source: county tax records.