17620 Front Beach Rd Unit 5N · Panama City Beach, FL 32413

$269,000

2 bd · 2.0 ba · 1,120 sqft · Condo public records · 34 Days on market

Built 1984

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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 +8.3/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Tucked away in the highly sought after West End of PCB, this charming 2 bedroom, 2.5 bath condo in Portside Resort offers the perfect blend of beachside relaxation, convenience, and investment potential. This rare floor plan stands out with two full bathrooms plus a half bath, a hard to find feature in the community. The spacious primary suite offers its own private bath and balcony, creating the perfect spot to start your day with coffee and coastal breezes. Ideally located within the resort, Unit N5 is near by one of three community pools, including a beautiful waterfall pool and a seasonally heated pool, with plenty of space to kick back and unwind. Portside offers so many amenities desi

Key facts

• Hot tub
• Pickleball courts
• Waterfall pool

Tags

• BEACH ACCESS
• WATERFALL POOL
• SEASONALLY HEATED POOL
• HOT TUB
• TENNIS COURTS
• PICKLEBALL COURTS

Property features AI

Finance

• Other: Property zoned for multi-family; Building includes dumpster
• HOA & community: Homeowners association with spa/hot tub; Community amenities include pool, tennis courts, barbecue area, and short-term rental allowed

Exterior

• Parking: Attached garage; Additional parking and parking lot
• Utilities: Electricity available; Public sewer
• Home design: Entry level: 2
• Construction: Stucco, vinyl siding, and wood frame construction; Shingle roof; Slab foundation
• Exterior features: Covered patio; Balcony; Porch; Patio; Paved lot; Community in-ground pool; Community spa/hot tub; Community tennis courts; Barbecue and beach access; Cabana; On-site garages

Interior

• Kitchen: Eat-in kitchen with breakfast bar; Electric oven; Electric range
• Bedrooms: Second-floor bedroom (12 x 11); Second-floor primary bedroom (13 x 12) with balcony access
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Interior steps; Living room opens to dining area and has a sliding door to the patio; Primary bedroom opens to balcony
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $269k.

Deal economics

• At list price, monthly cash flow is $-247 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $267k (0.7% below list).
• Recommended offer: $261k (3.0% below list) — sets the bar for market timing.
• Cap rate 5.2% 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.
• Zoned schools: West Bay Elementary School (math 57% / reading 52%, grade C, #892 of 2,144 statewide, top 44%, 313 students, 50% FRL); Surfside Middle School (math 58% / reading 59%, grade B, #148 of 571 statewide, top 26%, 843 students, 48% FRL); J.R. Arnold High School (math 41% / reading 54%, grade D, #204 of 667 statewide, top 31%, 1,617 students, 36% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: Rents flat; 1273 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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

• It's been on market 34 days — a 3% lower offer ($261k) 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 $81k; list at $269k implies a 232% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 8→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $260,930 (3.0% below list)

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. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.99% ✗
• Cap rate: 5.19%
• Cash-on-cash: -3.94%
• DSCR: 0.82
• GRM: 8.4

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: -26.4%
• Equity multiple: 0.13×
• Total profit: $-65,493
• Equity at exit: $40,109

10-year hold

• IRR: -39.3%
• Equity multiple: -0.34×
• Total profit: $-101,296
• Equity at exit: $23,258

Cash invested: $75,320 (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: 1273
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,672 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$260 /mo · $3,120/yr
• Insurance: −$112
• HOA est. from 3 same-building comps: −$575
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $-247

Break-even live

Break-even rent $2,985

Max offer price $225,330

Occupancy floor —

Sensitivity live

Price	-10% $-95	-5% $-171	+0% $-247	+5% $-323	+10% $-399
Rent	-10% $-458	-5% $-353	+0% $-247	+5% $-142	+10% $-36
Rate	-1.0pp $-112	-0.5pp $-179	base $-247	+0.5pp $-317	+1.0pp $-388

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: $67,250
• Closing costs: $8,070
• 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	23d	1	0.06mi
17751 Panama City Beach Pkwy Unit 2E Panama City Beach, FL	2.0	2.0	1100	$2,600	$2.36	23d	1	0.08mi
17614 Front Beach Rd Unit 16D Panama City Beach, FL	2.0	1.0	748	$1,600	$2.14	23d	1	0.19mi
17735 Front Beach Rd Unit 1447171P Panama City Beach, FL	3.0	2.0	1227	$4,925	$4.01	23d	1	0.27mi
17729 Front Beach Rd Unit 1355005P Panama City Beach, FL	1.0	2.0	882	$2,038	$2.31	15d	1	0.28mi
17545 Front Beach Rd Unit 1523333P Panama City, FL	2.0	2.0	1140	$6,472	$5.68	15d	1	0.42mi
17462 Front Beach Rd Unit 1 Panama City Beach, FL	1.0	1.0	900	$1,950	$2.17	23d	1	0.48mi
127 Heather Dr Panama City Beach, FL	3.0	2.0	1297	$2,350	$1.81	15d	1	0.81mi
17225 Panama City Beach Pkwy Panama City Beach, FL	1.0–2.0	1.0–2.0	981	$1,719	$1.75	15d	10	0.98mi
102 Cabana Cay Cir Panama City Beach, FL	1.0–2.0	1.0–2.0	950	$2,143	$2.26	15d	26	1.07mi
19610 Alta Vista Dr Panama City Beach, FL	2.0	1.0	1000	$1,400	$1.40	15d	1	1.19mi
17155 Front Beach Rd Unit 1354915P Panama City Beach, FL	2.0	2.0	1194	$2,498	$2.09	23d	1	1.21mi

HOA detail condo

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

Listing history 22 events

1. 2026-06-21
   days on market $269,000 Active 34 DOM
2. 2026-06-19
   days on market $269,000 Active 32 DOM
3. 2026-06-18
   days on market $269,000 Active 31 DOM
4. 2026-06-17
   days on market $269,000 Active 30 DOM
5. 2026-06-16
   days on market $269,000 Active 29 DOM
6. 2026-06-15
   days on market $269,000 Active 28 DOM
7. 2026-06-14
   days on market $269,000 Active 26 DOM
8. 2026-06-13
   days on market $269,000 Active 25 DOM
9. 2026-06-10
   days on market $269,000 Active 23 DOM
10. 2026-06-09
    days on market $269,000 Active 22 DOM
11. 2026-06-08
    days on market $269,000 Active 21 DOM
12. 2026-06-07
    days on market $269,000 Active 20 DOM
13. 2026-06-05
    days on market $269,000 Active 17 DOM
14. 2026-06-03
    days on market $269,000 Active 16 DOM
15. 2026-06-02
    days on market $269,000 Active 15 DOM
16. 2026-06-01
    days on market $269,000 Active 14 DOM
17. 2026-05-31
    days on market $269,000 Active 13 DOM
18. 2026-05-30
    days on market $269,000 Active 12 DOM
19. 2026-05-18
    listed $269,000 Active
20. 2026-05-18
    listed $269,000
21. 2026-05-18
    historical
22. 2001-02-06
    soldstatus $81,000

ⓘ 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: $3,120 · $260/mo
• Projected year-2 tax: $3,120 · $260/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 8 d/yr ≥105°F today · 24 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: $32,059
• − Mortgage interest: −$15,068
• − Property taxes: −$3,120
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,565
• − Management: −$2,565
• − HOA: −$6,900
• − Depreciation: −$7,825
• Taxable loss: −$7,329
• Est. tax savings @ 24.0%: +$1,759
• After-tax cash flow: $-1,207/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

+232.1% since first listed

4 events — show timeline

• 2026-05-18 Listing Removed — CPARMLS
• 2026-05-18 Listed $269,000 CPARMLS
• 2026-05-18 Listed $269,000 CPARMLS
• 2001-02-06 Sold (Public Records) $81,000 Public Records

Property tax history

+10.6%/yr

Latest (2025): $3,120 · +5.9% YoY. Source: county tax records.