7775 Betty Louise Dr · Callaway, FL 32404

$215,000

3 bd · 2.0 ba · 1,244 sqft · SingleFamily public records · 40 Days on market

Built 1987 7,840 sqft lot $173/sqft · 15% below area Est $252k · 15% 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).

• Cash flow +15.3/30.0
• ARV discount +14.2/15.0
• DSCR +4.7/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• 1% rule +2.9/10.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home built in 1987 featuring 3 bedrooms and 2 bathrooms. This fixer upper is full of potential and perfect for investors or buyers looking to make it their own. The home offers a wood-burning fireplace, spacious yard, and solid flooring throughout most of the home, with carpeted bedrooms ready for updating. Great opportunity for a new owner to add personal touches and value.

Key facts

• Spacious yard
• Solid flooring
• 7,840 sq ft lot

Tags

• WOOD BURNING FIREPLACE
• SPACIOUS YARD
• SOLID FLOORING

Property features AI

Finance

• HOA & community: Subdivision: CALLAWAY FOREST UNIT 2

Exterior

• Parking: Attached 2-car garage
• Utilities: Electric service; Public sewer; TV cable available
• Home design: Ranch-style single-story home; Entry level: First floor; Zoned for single-family residential
• Construction: Built in 1987; Frame and trim wood construction; Shingle roof
• Exterior features: Within 1/2 mile to water; Paved road access; Paved road surface

Interior

• Kitchen: Kitchen on the first floor; Disposal; Microwave; Refrigerator
• Bedrooms: 3 bedrooms; Primary bedroom on the first floor; All bedrooms on the first floor
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning; Ceiling fans; Electric heat controls
• Interior features: Breakfast bar; Cathedral ceilings; Fireplace; Skylight(s); Unfurnished
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $78 ($940/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $171k (20.6% below list).
• Recommended offer: $171k (20.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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); 981 active listings in the ZIP; 14 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.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $64k; list at $215k implies a 238% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,675 (20.6% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.79% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.56%
• DSCR: 1.07
• GRM: 10.5

CMA / ARV

• ARV (median comp): $252,305
• List price: $215,000
• Delta: -14.79%
• 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
7740 Betty Louise Dr	0.21mi	3/2.0	1,322 (+6%)	3mo	$215,000	$163	77
411 Tanya Pass	0.12mi	3/2.0	1,373 (+10%)	6mo	$145,500	$106	72
7528 Harvey St	0.49mi	3/2.0	1,232 (-1%)	5mo	$249,900	$203	71
421 Tanya Pass Pass	0.08mi	3/2.0	1,094 (-12%)	7mo	$220,000	$201	70
7333 Claudia's Way	0.57mi	3/2.0	1,272 (+2%)	4mo	$240,000	$189	66
601 Diamonte Cir	0.63mi	3/2.0	1,357 (+9%)	5mo	$295,000	$217	51
7532 Shadow Bay Dr	0.67mi	3/2.0	1,383 (+11%)	3mo	$255,000	$184	48
259 Reddy Creek Dr	0.71mi	3/2.0	1,427 (+15%)	2mo	$289,900	$203	41
201 Beulah Ave	0.72mi	2/1.5 (-1)	1,122 (-10%)	3mo	$335,000	$299	40
274 Reddy Creek Dr	0.74mi	3/2.0	1,427 (+15%)	3mo	$284,900	$200	39
282 Reddy Creek Dr	0.75mi	3/2.0	1,427 (+15%)	4mo	$293,900	$206	37
8400 Sun Point Dr	0.74mi	3/2.0	1,427 (+15%)	8mo	$294,175	$206	34

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: -15.7%
• Equity multiple: 0.45×
• Total profit: $-33,124
• Equity at exit: $32,057

10-year hold

• IRR: -10.5%
• Equity multiple: 0.41×
• Total profit: $-35,374
• Equity at exit: $18,589

Cash invested: $60,200 (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: 981
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,707 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$53 /mo · $635/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $78

Break-even live

Break-even rent $1,608

Max offer price $215,000

Occupancy floor 90%

Sensitivity live

Price	-10% $200	-5% $139	+0% $78	+5% $18	+10% $-43
Rent	-10% $-56	-5% $11	+0% $78	+5% $146	+10% $213
Rate	-1.0pp $187	-0.5pp $133	base $78	+0.5pp $23	+1.0pp $-34

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
126 Kristine Blvd Panama City, FL	2.0	1.0	884	$1,400	$1.58	22d	1	0.17mi
7727 Betty Louise Dr Panama City, FL	3.0	2.0	1430	$1,950	$1.36	22d	1	0.29mi
7709 Betty Louise Dr Panama City, FL	3.0	2.0	1310	$1,800	$1.37	22d	1	0.40mi
285 Sukoshi Dr Unit C Panama City, FL	2.0	1.5	916	$1,250	$1.36	14d	1	0.46mi
291 Sukoshi Dr Unit A Panama City, FL	2.0	1.5	918	$1,495	$1.63	22d	1	0.50mi
263 Nelle Ave Panama City, FL	3.0	2.0	1294	$1,690	$1.31	22d	1	0.64mi
7006 Lois St Unit B Panama City, FL	2.0	1.0	1000	$1,000	$1.00	22d	1	0.80mi
116 Christie Ln Panama City, FL	3.0	2.0	1092	$1,550	$1.42	22d	1	0.90mi
6724 Chipewa St Unit 6724 Panama City, FL	2.0	1.0	1000	$1,125	$1.12	14d	1	0.94mi
175 N Berthe Ave Panama City, FL	4.0	2.0	1498	$2,195	$1.47	14d	1	0.99mi
719 S Berthe Ave Unit 8 Panama City, FL	2.0	1.0	910	$1,000	$1.10	22d	1	1.15mi
168 N Comet Ave Panama City, FL	2.0	2.0	950	$1,100	$1.16	22d	1	1.18mi
6328 Olokee St Panama City, FL	3.0	2.0	1131	$1,850	$1.64	14d	1	1.25mi
114 S Kimbrel Ave Panama City, FL	3.0	2.0	1400	$1,850	$1.32	22d	1	1.44mi

Listing history 22 events

1. 2026-06-21
   days on market $215,000 Active 40 DOM
2. 2026-06-19
   days on market $215,000 Active 38 DOM
3. 2026-06-18
   days on market $215,000 Active 37 DOM
4. 2026-06-17
   days on market $215,000 Active 36 DOM
5. 2026-06-16
   days on market $215,000 Active 35 DOM
6. 2026-06-15
   days on market $215,000 Active 34 DOM
7. 2026-06-14
   days on market $215,000 Active 32 DOM
8. 2026-06-13
   days on market $215,000 Active 31 DOM
9. 2026-06-10
   days on market $215,000 Active 29 DOM
10. 2026-06-09
    days on market $215,000 Active 28 DOM
11. 2026-06-08
    days on market $215,000 Active 27 DOM
12. 2026-06-07
    days on market $215,000 Active 26 DOM
13. 2026-06-05
    days on market $215,000 Active 23 DOM
14. 2026-06-03
    days on market $215,000 Active 22 DOM
15. 2026-06-02
    days on market $215,000 Active 21 DOM
16. 2026-06-01
    days on market $215,000 Active 20 DOM
17. 2026-05-31
    days on market $215,000 Active 19 DOM
18. 2026-05-30
    days on market $215,000 Active 18 DOM
19. 2026-05-12
    listed $215,000 Active 377-char remark
20. 2026-05-07
    listed $215,000 Active 377-char remark

    Show marketing remark (377 chars)

    Home built in 1987 featuring 3 bedrooms and 2 bathrooms. This fixer upper is full of potential and perfect for investors or buyers looking to make it their own. The home offers a wood-burning fireplace, spacious yard, and solid flooring throughout most of the home, with carpeted bedrooms ready for updating. Great opportunity for a new owner to add personal touches and value.

21. 1990-12-01
    soldstatus $63,700
22. 1987-07-01
    soldstatus $62,000

ⓘ 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: $635 · $53/mo
• Projected year-2 tax: $1,784 · $149/mo
• Expected delta: +$1,150/yr (+$96/mo · 181.1%)

ⓘ 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 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 22 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: $20,481
• − Mortgage interest: −$12,043
• − Property taxes: −$635
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − Depreciation: −$6,255
• Taxable loss: −$2,804
• Est. tax savings @ 24.0%: +$673
• After-tax cash flow: $1,613/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

+246.8% since first listed

4 events — show timeline

• 2026-05-12 Listed $215,000 ECAR
• 2026-05-07 Listed $215,000 CPARMLS
• 1990-12-01 Sold (Public Records) $63,700 Public Records
• 1987-07-01 Sold (Public Records) $62,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $635 · +4.8% YoY. Source: county tax records.