1325 W 12th St Unit C6 · Panama City, FL 32401

$149,900

2 bd · 2.0 ba · 934 sqft · Condo public records · 31 Days on market

Built 1985

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Why this score? — see what drove the C- 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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• 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 MLS

REDUCED! FROM $134,900! THIS IS A CLEAN, CLEAN, CLEAN! BEAUTIFUL TOWNHOME STYLE/CONDO. Owner just installed 3 M hurricane Film over both patio doors on both levels. Guaranteed to 130 mph winds and cuts UV rate 90%. Paperwork available. IN ONE OF THE MOST DESIREABLE AREAS OF TOWN---PRIVATE AND SECLUDED, PRESENTLY ONLY 24 UNITS IN THIS DEVELOPMENT, BUT ANOTHER PHASE IS BEING BUILT, ON LAKE, PRICES OWNER HAS BEEN TOLD WILL BE IN $200'S. THE LANDING AT LAKE CAROLINE HAS AMENITIES, YET SO CONVENIENT TO THE BEACHES, TOWN, HOSPITAL OR MALL. THIS END UNIT HAS A GREAT VIEW AND All THE PRIDE IN OWNERSHIP WITHOUT THE HASSLES OF UPKEEP. .. LIVING AREA DOWNSTAIRS WITH HALF BATH, BEDROOMS UPSTAIRS WITH FULL BATH. MASTER BEDROOM HAS SLIDING DOORS THAT LEAD TO PRIVATE PORCH WHICH OVERLOOKS POOL! TWO GREAT SIZED BEDROOMS WITH DOUBLE CLOSETS IN EACH BEDROOM. ENTIRE UNIT HAS BEEN FRESHLY PAINTED WITH NEW CARPET. SHOWS EXCELLENT, CLEAN AND BRIGHT! POOL JUST OUTSIDE BACK DOOR, AND VIEW OF LAKE. All measurements are apx. please feel free to verify.

Key facts

• Community pool
• Private balcony
• Functional layout

Tags

• PRIVATE BALCONY
• COMMUNITY POOL
• QUIET AREA
• FUNCTIONAL LAYOUT

Property features AI

Finance

• HOA & community: Homeowners association; Community pool

Exterior

• Parking: Parking lot
• Home design: 2-story building; Zoned for city
• Exterior features: Balcony; Covered patio/porch; Patio; Community in-ground pool

Interior

• Kitchen: Electric cooktop; Electric oven
• Bedrooms: Primary bedroom; Bedroom
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: 3 total rooms; Living room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/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 $145k (3.0% below list).
• Recommended offer: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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; 258 active listings in the ZIP; 6 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).
• This rent runs 33% 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 $1k 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

• It's been on market 31 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y 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 $122k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.76%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.7%
• Equity multiple: 0.59×
• Total profit: $-17,336
• Equity at exit: $22,351

10-year hold

• IRR: -6.5%
• Equity multiple: 0.63×
• Total profit: $-15,673
• Equity at exit: $12,961

Cash invested: $41,972 (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: 258
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,454 high
• Mortgage (P&I): −$786
• Tax from tax record: −$134 /mo · $1,605/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $166

Break-even live

Break-even rent $1,243

Max offer price $149,900

Occupancy floor 84%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1301 Frankford Ave Apt B104 Panama City, FL	2.0	1.0	780	$1,000	$1.28	13d	1	0.59mi
2100 W Beach Dr Unit F102 Panama City, FL	2.0	1.0	970	$1,700	$1.75	21d	1	0.65mi
901 W 19th St Panama City, FL	1.0–2.0	1.0–2.0	787	$1,168	$1.48	21d	5	0.97mi
1804 Arthur Ave Panama City, FL	3.0	1.5	1044	$1,795	$1.72	21d	1	1.06mi
265 15th St Panama City, FL	1.0–3.0	1.0–2.0	967	$1,252	$1.29	13d	4	1.13mi
1525 Oak Ave Unit B Panama City, FL	1.0	1.0	540	$1,200	$2.22	21d	1	1.25mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-19
   days on market $149,900 Active 31 DOM
2. 2026-06-18
   days on market $149,900 Active 30 DOM
3. 2026-06-17
   days on market $149,900 Active 29 DOM
4. 2026-06-16
   days on market $149,900 Active 28 DOM
5. 2026-06-15
   days on market $149,900 Active 27 DOM
6. 2026-06-14
   days on market $149,900 Active 25 DOM
7. 2026-06-13
   days on market $149,900 Active 24 DOM
8. 2026-06-10
   days on market $149,900 Active 22 DOM
9. 2026-06-09
   days on market $149,900 Active 21 DOM
10. 2026-06-08
    days on market $149,900 Active 20 DOM
11. 2026-06-07
    days on market $149,900 Active 19 DOM
12. 2026-06-05
    days on market $149,900 Active 16 DOM
13. 2026-06-03
    days on market $149,900 Active 15 DOM
14. 2026-06-02
    days on market $149,900 Active 14 DOM
15. 2026-06-01
    days on market $149,900 Active 13 DOM
16. 2026-05-31
    days on market $149,900 Active 12 DOM
17. 2026-05-30
    days on market $149,900 Active 11 DOM
18. 2026-05-19
    listed $149,900 Active
19. 2021-12-14
    historical
20. 2006-10-05
    soldstatus $122,500
21. 2006-09-29
    soldstatus $122,500 1043-char remark

    Show marketing remark (1043 chars)

    REDUCED! FROM $134,900! THIS IS A CLEAN, CLEAN, CLEAN! BEAUTIFUL TOWNHOME STYLE/CONDO. Owner just installed 3 M hurricane Film over both patio doors on both levels. Guaranteed to 130 mph winds and cuts UV rate 90%. Paperwork available. IN ONE OF THE MOST DESIREABLE AREAS OF TOWN---PRIVATE AND SECLUDED, PRESENTLY ONLY 24 UNITS IN THIS DEVELOPMENT, BUT ANOTHER PHASE IS BEING BUILT, ON LAKE, PRICES OWNER HAS BEEN TOLD WILL BE IN $200'S. THE LANDING AT LAKE CAROLINE HAS AMENITIES, YET SO CONVENIENT TO THE BEACHES, TOWN, HOSPITAL OR MALL. THIS END UNIT HAS A GREAT VIEW AND All THE PRIDE IN OWNERSHIP WITHOUT THE HASSLES OF UPKEEP. .. LIVING AREA DOWNSTAIRS WITH HALF BATH, BEDROOMS UPSTAIRS WITH FULL BATH. MASTER BEDROOM HAS SLIDING DOORS THAT LEAD TO PRIVATE PORCH WHICH OVERLOOKS POOL! TWO GREAT SIZED BEDROOMS WITH DOUBLE CLOSETS IN EACH BEDROOM. ENTIRE UNIT HAS BEEN FRESHLY PAINTED WITH NEW CARPET. SHOWS EXCELLENT, CLEAN AND BRIGHT! POOL JUST OUTSIDE BACK DOOR, AND VIEW OF LAKE. All measurements are apx. please feel free to verify.

22. 2006-01-03
    listed $125,000 1043-char remark

    Show marketing remark (1043 chars)

    REDUCED! FROM $134,900! THIS IS A CLEAN, CLEAN, CLEAN! BEAUTIFUL TOWNHOME STYLE/CONDO. Owner just installed 3 M hurricane Film over both patio doors on both levels. Guaranteed to 130 mph winds and cuts UV rate 90%. Paperwork available. IN ONE OF THE MOST DESIREABLE AREAS OF TOWN---PRIVATE AND SECLUDED, PRESENTLY ONLY 24 UNITS IN THIS DEVELOPMENT, BUT ANOTHER PHASE IS BEING BUILT, ON LAKE, PRICES OWNER HAS BEEN TOLD WILL BE IN $200'S. THE LANDING AT LAKE CAROLINE HAS AMENITIES, YET SO CONVENIENT TO THE BEACHES, TOWN, HOSPITAL OR MALL. THIS END UNIT HAS A GREAT VIEW AND All THE PRIDE IN OWNERSHIP WITHOUT THE HASSLES OF UPKEEP. .. LIVING AREA DOWNSTAIRS WITH HALF BATH, BEDROOMS UPSTAIRS WITH FULL BATH. MASTER BEDROOM HAS SLIDING DOORS THAT LEAD TO PRIVATE PORCH WHICH OVERLOOKS POOL! TWO GREAT SIZED BEDROOMS WITH DOUBLE CLOSETS IN EACH BEDROOM. ENTIRE UNIT HAS BEEN FRESHLY PAINTED WITH NEW CARPET. SHOWS EXCELLENT, CLEAN AND BRIGHT! POOL JUST OUTSIDE BACK DOOR, AND VIEW OF LAKE. All measurements are apx. please feel free to verify.

23. 2002-05-17
    soldstatus $52,000
24. 1999-10-20
    listed $61,000
25. 1997-09-30
    soldstatus $51,000
26. 1997-03-20
    listed $53,900

ⓘ 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: $1,605 · $134/mo
• Projected year-2 tax: $1,605 · $134/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 · 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: $17,450
• − Mortgage interest: −$8,397
• − Property taxes: −$1,605
• − Insurance: −$750
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$4,361
• Taxable loss: −$454
• Est. tax savings @ 24.0%: +$109
• After-tax cash flow: $2,107/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

+178.1% since first listed

9 events — show timeline

• 2026-05-19 Listed $149,900 CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2006-10-05 Sold (Public Records) $122,500 Public Records
• 2006-09-29 Sold (MLS) $122,500 CPARMLS
• 2006-01-03 Listed $125,000 CPARMLS
• 2002-05-17 Sold (Public Records) $52,000 Public Records
• 1999-10-20 Listed $61,000 CPARMLS
• 1997-09-30 Sold (MLS) $51,000 CPARMLS
• 1997-03-20 Listed $53,900 CPARMLS

Property tax history

+9.6%/yr

Latest (2025): $1,605 · -4.5% YoY. Source: county tax records.