17751 Panama City Beach Pkwy Unit 3B · Panama City Beach, FL 32413

$252,000

2 bd · 2.0 ba · 1,100 sqft · Condo public records · 4 Days on market

Built 1987

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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 +12.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +3.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beachwalk 3B is currently undergoing a complete remodel. Everything is being completely remodeled and renovated - ceilings, floors, walls, appliances, fixtures - you name it. Estimated completion date is July 1, 2018. Get your offer in before it is complete.

Key facts

• Ceramic flooring
• Tiled showers
• New cabinets

Tags

• OPEN FLOOR PLANS
• SOLID SURFACE COUNTERTOPS
• NEW CABINETS
• CERAMIC FLOORING
• LVP THROUGHOUT
• TILED SHOWERS

Property features AI

Finance

• Other: All units furnished (multi-unit information)
• HOA & community: Has homeowners association; Association picnic area; Community clubhouse; Conference/meeting room; On-site laundry facilities; Park; Pool; Tennis courts; Short-term rentals allowed

Exterior

• Parking: Additional parking available
• Security: Carbon monoxide detector(s); Smoke detector(s); Firewall(s); Security lights
• Utilities: Cable connected; Electricity available; Underground utilities; Public sewer
• Home design: 2-story townhouse/condo style; Entry at ground level
• Construction: Stucco and wood frame construction; Asphalt roof; Slab foundation
• Exterior features: Rain gutters; Covered patio; Patio; Balcony; Sprinkler system; Community fenced saltwater gunite in-ground pool

Interior

• Kitchen: Gas cooktop; Gas oven; Gas range; Icemaker; Warming drawer
• Bedrooms: Primary bedroom on upper level; Second-level bedroom (12 x 10); Second-level bedroom (13 x 11)
• Bathrooms: 2 full bathrooms
• Interior features: Balcony; Interior steps; Smart home features; Tub/shower; Upper-level primary bedroom
• Laundry & utility: Stacked washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $252k.

Deal economics

• At list price, monthly cash flow is $-38 ($-461/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $252k).
• Cap rate 6.1% vs local median 2.6% in Panama City Beach — 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 78/100 on livability (#172 in FL, #2,624 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D-, 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; 1249 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
• This rent runs 40% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $8k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 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 $170k; 48% 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; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $252,000

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.07% ✓
• Cap rate: 6.11%
• Cash-on-cash: -0.65%
• DSCR: 0.97
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -20.8%
• Equity multiple: 0.30×
• Total profit: $-49,546
• Equity at exit: $37,574

10-year hold

• IRR: -23.0%
• Equity multiple: -0.00×
• Total profit: $-70,713
• Equity at exit: $21,788

Cash invested: $70,560 (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 32413

• Home prices YoY: -34.4%
• Rents YoY: 0.5%
• Active inventory: 1249
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,699 high
• Mortgage (P&I): −$1,322
• Tax from tax record: −$247 /mo · $2,961/yr
• Insurance: −$105
• HOA est. from 5 same-building comps: −$497
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $-38

Break-even live

Break-even rent $2,747

Max offer price $245,220

Occupancy floor 96%

Sensitivity live

Price	-10% $104	-5% $33	+0% $-38	+5% $-110	+10% $-181
Rent	-10% $-252	-5% $-145	+0% $-38	+5% $68	+10% $175
Rate	-1.0pp $89	-0.5pp $26	base $-38	+0.5pp $-104	+1.0pp $-170

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: $63,000
• Closing costs: $7,560
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17751 Panama City Beach Pkwy Unit 1523371P Panama City Beach, FL	2.0	2.0	1097	$3,862	$3.52	21d	1	0.11mi
17751 Panama City Beach Pkwy Unit 2E Panama City Beach, FL	2.0	2.0	1100	$2,600	$2.36	21d	1	0.14mi
17614 Front Beach Rd Unit 16D Panama City Beach, FL	2.0	1.0	748	$1,600	$2.14	21d	1	0.15mi
17735 Front Beach Rd Unit 1447171P Panama City Beach, FL	3.0	2.0	1227	$4,925	$4.01	21d	1	0.18mi
17729 Front Beach Rd Unit 1355005P Panama City Beach, FL	1.0	2.0	882	$2,038	$2.31	14d	1	0.19mi
17545 Front Beach Rd Unit 1523333P Panama City, FL	2.0	2.0	1140	$6,472	$5.68	14d	1	0.38mi
17462 Front Beach Rd Unit 1 Panama City Beach, FL	1.0	1.0	900	$1,950	$2.17	21d	1	0.50mi
127 Heather Dr Panama City Beach, FL	3.0	2.0	1297	$2,350	$1.81	14d	1	0.88mi
17225 Panama City Beach Pkwy Panama City Beach, FL	1.0–2.0	1.0–2.0	981	$1,719	$1.75	14d	10	1.01mi
102 Cabana Cay Cir Panama City Beach, FL	1.0–2.0	1.0–2.0	950	$2,143	$2.26	14d	26	1.08mi
19610 Alta Vista Dr Panama City Beach, FL	2.0	1.0	1000	$1,400	$1.40	14d	1	1.18mi
17155 Front Beach Rd Unit 1354915P Panama City Beach, FL	2.0	2.0	1194	$2,498	$2.09	21d	1	1.21mi

HOA detail condo

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

Listing history 5 events

1. 2026-06-19
   days on market $252,000 Active 4 DOM
2. 2026-06-18
   days on market $252,000 Active 3 DOM
3. 2026-06-17
   days on market $252,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   listed $252,000 Active 1 DOM

ⓘ 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: $2,961 · $247/mo
• Projected year-2 tax: $2,961 · $247/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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 23 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,383
• − Mortgage interest: −$14,116
• − Property taxes: −$2,961
• − Insurance: −$1,260
• − Repairs & maintenance: −$2,591
• − Management: −$2,591
• − HOA: −$5,964
• − Depreciation: −$7,331
• Taxable loss: −$4,430
• Est. tax savings @ 24.0%: +$1,063
• After-tax cash flow: $603/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 Beach

• Score: 78/100
• State rank: #172
• US rank: #2624

Category grades

Amenities D- Commute F Cost of living B- Crime A+ Employment A- Housing A+ Health & safety A+ User ratings B+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Panama City Beach, FL
• County: Bay County · 163,593 people
• City population: 50,689
• Metro: Panama City, FL
• Population (ZIP): 15,453
• Household income: $80,039
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 531.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 0%

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: ▼ -185.97%
• Current HPI: 354.7469
• Rent YoY: ▲ 0.52%
• 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

+276.7% since first listed

21 events — show timeline

• 2026-06-15 Listed $252,000 CPARMLS
• 2026-05-14 Listing Removed — CPARMLS
• 2026-05-10 Price Changed $259,900 CPARMLS
• 2026-04-14 Price Changed $260,900 CPARMLS
• 2026-03-15 Listed $269,000 CPARMLS
• 2018-08-17 Sold (MLS) $170,000 ECAR
• 2018-08-17 Sold (MLS) $170,000 CPARMLS
• 2018-08-17 Sold (MLS) $170,000 NAMLS
• 2018-06-01 Listed $179,000 CPARMLS
• 2018-06-01 Listed $179,000 NAMLS
• 2005-08-05 Sold (Public Records) $235,000 Public Records
• 2005-08-03 Sold (MLS) $235,000 CPARMLS
• 2005-05-06 Listed $240,000 CPARMLS
• 2004-04-29 Sold (Public Records) $115,000 Public Records
• 2004-04-29 Sold (Public Records) $90,000 Public Records
• 2004-04-23 Sold (MLS) $115,000 CPARMLS
• 2004-04-01 Listed $134,900 CPARMLS
• 1997-08-28 Sold (MLS) $63,250 CPARMLS
• 1997-05-25 Listed $54,000 CPARMLS
• 1997-05-21 Sold (MLS) $54,000 CPARMLS
• 1997-02-12 Listed $66,900 CPARMLS

Property tax history

+10.7%/yr

Latest (2025): $2,961 · -2.2% YoY. Source: county tax records.