101 Seagrass Way · Panama City Beach, FL 32407

$285,000

3 bd · 2.0 ba · 1,197 sqft · SingleFamily public records · 114 Days on market

Built 2005 $238/sqft · 15% below area Est $335k · 15% under

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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 +15.4/30.0
• ARV discount +14.2/15.0
• DSCR +4.7/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well Maintained, updated, 3/2 home is perfect beach home for any investor looking for long term or vacation rental, vacation/weekend getaway or any one looking for a primary home close to the beach! Palm Cove Subdivision offers 2 community pools & playground, also close enough to golf cart to the beach & amenities. All info taken from appraiser site & sizes approx. , please verify, if important.

Key facts

• Close to amenities
• Community pools
• Close to beach

Tags

• COMMUNITY POOLS
• PLAYGROUND
• CLOSE TO BEACH
• GOLF CART TO BEACH
• CLOSE TO AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $107 ($1k/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 $251k (12.0% below list).
• Recommended offer: $251k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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 soft (-0.2%/yr); 705 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 37% of the median local income ($81k/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 $9k 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 114 days — a 9% lower offer ($259k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago; this cycle's ask has dropped $29k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $166k; list at $285k implies a 72% 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; moderate 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 $250,878 (12.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.88% ✗
• Cap rate: 6.74%
• Cash-on-cash: 1.61%
• DSCR: 1.07
• GRM: 9.5

CMA / ARV

• ARV (median comp): $334,510
• List price: $285,000
• Delta: -14.80%
• 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
11739 Sand Castle Ln	0.10mi	3/2.0	1,197 (0%)	2mo	$319,000	$266	94
121 Seagrass Way	0.05mi	3/2.0	1,183 (-1%)	8mo	$280,000	$237	90
11729 Sand Castle Ln	0.10mi	3/2.0	1,197 (0%)	7mo	$318,000	$266	90
220 Coquina Shell Way	0.21mi	3/2.0	1,190 (-1%)	1mo	$295,000	$248	88
205 Emerald Coast Club Blvd	0.23mi	3/2.0	1,197 (0%)	4mo	$280,000	$234	86
206 Seahorse Way	0.15mi	2/2.0 (-1)	1,197 (0%)	3mo	$250,000	$209	86
220 Emerald Coast Club Blvd	0.24mi	3/2.0	1,190 (-1%)	5mo	$270,000	$227	84
122 White Cap Way	0.13mi	3/2.0	1,092 (-9%)	3mo	$290,000	$266	76
207 Coquina Shell Way	0.20mi	3/2.0	1,269 (+6%)	7mo	$343,000	$270	75
11822 Sand Dune Dr	0.28mi	3/2.0	1,272 (+6%)	3mo	$352,000	$277	74
108 Beacon Ln	0.03mi	3/2.0	1,348 (+13%)	5mo	$250,000	$185	74
11705 Cabana Ct	0.15mi	3/2.0	1,351 (+13%)	3mo	$351,000	$260	69

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.41×
• Total profit: $-46,733
• Equity at exit: $42,494

10-year hold

• IRR: -15.4%
• Equity multiple: 0.24×
• Total profit: $-60,405
• Equity at exit: $24,642

Cash invested: $79,800 (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 32407

• Home prices YoY: -29.5%
• Rents YoY: -0.2%
• Active inventory: 705
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,509 high
• Mortgage (P&I): −$1,495
• Tax from tax record: −$261 /mo · $3,138/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $107

Break-even live

Break-even rent $2,373

Max offer price $285,000

Occupancy floor 91%

Sensitivity live

Price	-10% $268	-5% $188	+0% $107	+5% $26	+10% $-54
Rent	-10% $-91	-5% $8	+0% $107	+5% $206	+10% $305
Rate	-1.0pp $251	-0.5pp $180	base $107	+0.5pp $33	+1.0pp $-42

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
175 White Cap Way Unit 1 Panama City Beach, FL	3.0	2.5	1432	$1,750	$1.22	14d	1	0.09mi
11222 Hutchison Blvd Unit 1523347P Panama City Beach, FL	2.0	2.0	1194	$3,907	$3.27	22d	1	0.12mi
104 White Cap Way Panama City Beach, FL	3.0	2.0	1146	$2,700	$2.36	22d	1	0.12mi
11709 Seashore Ln Panama City Beach, FL	3.0	2.0	1269	$2,300	$1.81	14d	1	0.16mi
520 N Richard Jackson Blvd #1912 Panama City Beach, FL	2.0	2.0	1200	$2,375	$1.98	14d	1	0.31mi
98 Paddock Club Dr Panama City Beach, FL	1.0–3.0	1.0–2.0	1093	$2,063	$1.89	14d	19	0.31mi
800 Grand Panama Blvd Panama City Beach, FL	3.0	1.0–2.0	978	$2,699	$2.76	14d	30	0.36mi
138 Bonnie Ln Panama City Beach, FL	2.0	1.5	972	$1,599	$1.65	14d	1	0.51mi
136 Bonnie Ln Panama City Beach, FL	2.0	1.5	972	$1,750	$1.80	14d	1	0.51mi
302 Cabana Blvd Panama City Beach, FL	1.0–3.0	1.0–2.0	1184	$1,806	$1.53	14d	15	0.59mi
133 W Leslie Ln Unit 1 Panama City Beach, FL	2.0	1.5	950	$2,200	$2.32	22d	1	0.63mi
12011 Front Beach Rd Unit 1523327P Panama City Beach, FL	2.0	2.0	1076	$3,796	$3.53	14d	1	0.64mi
10400 Panama City Beach Pkwy Panama City Beach, FL	1.0–3.0	1.0–2.0	1151	$2,372	$2.06	14d	20	0.83mi
10811 Front Beach Rd Unit 1354928P Panama City Beach, FL	3.0	2.0	1194	$3,463	$2.90	14d	1	0.86mi
10625 Front Beach Rd Unit 1354975P Panama City Beach, FL	2.0	2.0	1140	$3,166	$2.78	14d	1	0.99mi
204 Potters Bluff Dr Panama City Beach, FL	1.0–3.0	1.0–2.0	1035	$1,947	$1.88	14d	12	1.09mi
104 Gulfside Ct Unit 1523320P Panama City Beach, FL	3.0	3.0	1496	$5,020	$3.36	14d	1	1.25mi
998 Gulfside Ct Unit 1523366P Panama City Beach, FL	2.0	2.0	1065	$4,124	$3.87	14d	1	1.26mi
9815 S Thomas Dr Unit 1523339P Panama City, FL	3.0	2.0	1259	$4,018	$3.19	22d	1	1.29mi
9902 S Thomas Dr Unit 1354966P Panama City Beach, FL	2.0	2.0	1259	$1,970	$1.56	14d	1	1.37mi
900 Clara Ave Panama City Beach, FL	1.0–3.0	1.0–2.0	1134	$2,175	$1.92	14d	15	1.46mi

Listing history 31 events

1. 2026-06-21
   days on market $285,000 Active 114 DOM
2. 2026-06-19
   days on market $285,000 Active 112 DOM
3. 2026-06-18
   days on market $285,000 Active 111 DOM
4. 2026-06-17
   days on market $285,000 Active 110 DOM
5. 2026-06-16
   days on market $285,000 Active 109 DOM
6. 2026-06-15
   days on market $285,000 Active 108 DOM
7. 2026-06-14
   days on market $285,000 Active 106 DOM
8. 2026-06-13
   days on market $285,000 Active 105 DOM
9. 2026-06-10
   days on market $285,000 Active 103 DOM
10. 2026-06-09
    days on market $285,000 Active 102 DOM
11. 2026-06-08
    days on market $285,000 Active 101 DOM
12. 2026-06-07
    days on market $285,000 Active 100 DOM
13. 2026-06-05
    days on market $285,000 Active 97 DOM
14. 2026-06-03
    days on market $285,000 Active 96 DOM
15. 2026-06-02
    days on market $285,000 Active 95 DOM
16. 2026-06-01
    days on market $285,000 Active 94 DOM
17. 2026-05-31
    days on market $285,000 Active 93 DOM
18. 2026-05-30
    days on market $285,000 Active 92 DOM
19. 2026-04-24
    price $290,000 417-char remark

    Show marketing remark (417 chars)

    Well Maintained, updated, 3/2 home is perfect beach home for any investor looking for long term or vacation rental, vacation/weekend getaway or any one looking for a primary home close to the beach! Palm Cove Subdivision offers 2 community pools & playground, also close enough to golf cart to the beach & amenities. All info taken from appraiser site & sizes approx. , please verify, if important.

20. 2026-04-11
    price $300,000 417-char remark

    Show marketing remark (417 chars)

    Well Maintained, updated, 3/2 home is perfect beach home for any investor looking for long term or vacation rental, vacation/weekend getaway or any one looking for a primary home close to the beach! Palm Cove Subdivision offers 2 community pools & playground, also close enough to golf cart to the beach & amenities. All info taken from appraiser site & sizes approx. , please verify, if important.

21. 2026-03-16
    price $309,000 417-char remark

    Show marketing remark (417 chars)

    Well Maintained, updated, 3/2 home is perfect beach home for any investor looking for long term or vacation rental, vacation/weekend getaway or any one looking for a primary home close to the beach! Palm Cove Subdivision offers 2 community pools & playground, also close enough to golf cart to the beach & amenities. All info taken from appraiser site & sizes approx. , please verify, if important.

22. 2026-02-24
    listed $314,000 Active 417-char remark

    Show marketing remark (417 chars)

    Well Maintained, updated, 3/2 home is perfect beach home for any investor looking for long term or vacation rental, vacation/weekend getaway or any one looking for a primary home close to the beach! Palm Cove Subdivision offers 2 community pools & playground, also close enough to golf cart to the beach & amenities. All info taken from appraiser site & sizes approx. , please verify, if important.

23. 2024-12-01
    historical
24. 2024-10-18
    historical $2,300
25. 2024-10-11
    listed $325,000 Active
26. 2024-09-20
    price $2,300
27. 2024-08-24
    listed $2,500
28. 2024-02-15
    historical $2,400
29. 2023-11-15
    listed $2,400
30. 2018-10-05
    soldstatus $165,500
31. 2018-08-21
    listed $169,900

ⓘ 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: $3,138 · $261/mo
• Projected year-2 tax: $3,138 · $261/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 · 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: $30,105
• − Mortgage interest: −$15,964
• − Property taxes: −$3,138
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,408
• − Management: −$2,408
• − Depreciation: −$8,291
• Taxable loss: −$3,530
• Est. tax savings @ 24.0%: +$847
• After-tax cash flow: $2,133/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

• County: Bay County · 163,593 people
• City population: 50,689
• Metro: Panama City, FL
• Population (ZIP): 16,404
• Household income: $80,831
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 939.0

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 (73%)
• Race & ethnicity: White 73% Black 10% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Italian 3% Portuguese 2%
• Foreign-born: 12% · Canada, Jamaica, South Korea
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -116.39%
• Current HPI: 277.8875
• Rent YoY: ▼ -0.25%
• 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

+70.7% since first listed

13 events — show timeline

• 2026-04-24 Price Changed $290,000 CPARMLS
• 2026-04-11 Price Changed $300,000 CPARMLS
• 2026-03-16 Price Changed $309,000 CPARMLS
• 2026-02-24 Listed $314,000 CPARMLS
• 2024-12-01 Listing Removed — CPARMLS
• 2024-10-18 Rental Removed $2,300 APPFOLIO
• 2024-10-11 Listed $325,000 CPARMLS
• 2024-09-20 Price Changed $2,300 APPFOLIO
• 2024-08-24 Listed for Rent $2,500 APPFOLIO
• 2024-02-15 Rental Removed $2,400 RENT.
• 2023-11-15 Listed for Rent $2,400 RENT.
• 2018-10-05 Sold (MLS) $165,500 CPARMLS
• 2018-08-21 Listed $169,900 CPARMLS

Property tax history

+8.9%/yr

Latest (2025): $3,138 · +6.9% YoY. Source: county tax records.