151 Coyote Pass #23 · Panama City Beach, FL 32407

$272,500

2 bd · 2.0 ba · 1,370 sqft · Condo · 349 Days on market

Built 1998 Good condition $199/sqft · 15% below area Est $322k · 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).

• ARV discount +14.4/15.0
• Cash flow +11.0/30.0
• Schools +5.2/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW HOA reduced their fees! They include cable, water, trash, landscape, and pool. $1586/quarter. Welcome to your peaceful retreat in The Glades -- a beautifully updated ground-floor condo offering privacy, sophistication, and a coveted beachside lifestyle. This charming and spacious 2-bedroom, 2-bath residence is perfectly designed for both comfort and convenience. With a thoughtful split-bedroom layout, each oversized bedroom is located on opposite ends of the home, offering optimal privacy and tranquility -- ideal for hosting guests or enjoying quiet moments to yourself. Step inside to find light and airy interiors filled with natural sunshine, thanks to large sliding doors. The open living area flows effortlessly into the kitchen, where stainless appliances, and a shiplap-accented bar set the tone for coastal elegance. Both bathrooms have been upgraded with quartz tile showers, adding a touch of spa-like luxury. Enjoy private preserve views from the living room and main en suite, and unwind on your secluded patio that opens directly to a serene natural backdrop -- the perfect spot for morning coffee or a quiet evening glass of wine. The covered entry adds a welcoming touch, and with the convenience of ground-floor access, this condo lives like a private villa. You're just a 7-minute golf cart ride from the world-famous white sand beaches of the Gulf, and only minutes from Pier Park, Duplin Winery, golf, and all the best dining, shopping, and entertainment Panama City Beach has to offer. The Glades community offers well-maintained amenities including a sparkling pool, and the neighborhood's quiet, tucked-away vibe makes it feel like a true hidden gem -- all while keeping you close to the action. Whether you're looking for a full-time residence, vacation getaway, or investment opportunity, this condo delivers luxury, location, and lifestyle in one unbeatable package. Schedule your private showing today -- your coastal escape awaits.

Key facts

• Ground floor condo
• Split bedroom layout
• Secluded patio

Tags

• GROUND FLOOR CONDO
• SPLIT BEDROOM LAYOUT
• PRIVATE PRESERVE VIEWS
• SECLUDED PATIO
• UPGRADED QUARTZ TILE SHOWERS
• WELL MAINTAINED AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $272k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (6.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (17.9% below list).
• Recommended offer: $224k (17.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 1.7% 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: Hutchison Beach Elementary School (math 55% / reading 45%, grade D+, #1,070 of 2,144 statewide, top 51%, 621 students, 59% 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 48% FRL track the district average.
• Market conditions: Rents soft (-0.2%/yr); 923 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
• This rent runs 33% 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 $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 349 days — a 12% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $22k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $200k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $223,853 (17.9% 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 349 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.82% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.80%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

• ARV (median comp): $322,092
• List price: $272,500
• Delta: -15.40%
• 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
198 Palmeras Marinas Ln	0.41mi	3/2.5 (+1)	1,459 (+6%)	1mo	$320,000	$219	62
8700 Front Beach Rd #6301	1.34mi	2/2.5	1,325 (-3%)	0mo	$260,000	$196	57
9860 S Thomas Dr #907	0.92mi	2/2.0	1,262 (-8%)	0mo	$320,000	$254	52
186 White Cap Way	0.75mi	3/3.0 (+1)	1,432 (+4%)	1mo	$270,000	$189	48
9902 S Thomas Dr #2129	0.86mi	3/2.0 (+1)	1,262 (-8%)	0mo	$250,000	$198	47
9860 S Thomas Dr Unit 1922	0.92mi	3/2.0 (+1)	1,262 (-8%)	0mo	$301,000	$239	46
11347 Front Beach Rd #1010	0.96mi	2/2.0	1,055 (-23%)	0mo	$437,500	$415	40
12011 Front Beach Rd Unit 804B	1.38mi	2/2.0	1,076 (-22%)	0mo	$425,000	$395	40
11807 Front Beach Rd Unit 1-607	1.20mi	2/2.0	1,135 (-17%)	0mo	$590,000	$520	40
11483 Front Beach Rd Unit 508	1.03mi	2/2.0	1,055 (-23%)	0mo	$440,000	$417	40
11483 Front Beach Rd Unit 508-1	1.03mi	2/2.0	1,055 (-23%)	0mo	$440,000	$417	40
2200 Dorothy Ave	1.42mi	3/2.5 (+1)	1,638 (+20%)	0mo	$370,000	$226	33

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: -22.7%
• Equity multiple: 0.24×
• Total profit: $-57,992
• Equity at exit: $40,631

10-year hold

• IRR: -27.3%
• Equity multiple: -0.12×
• Total profit: $-85,124
• Equity at exit: $23,561

Cash invested: $76,300 (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 →

Active competition Active MLS

• For sale now: 4 active · 9 under contract
• Median asking: $372,500 ($271/sqft)
• Median days on market: 253 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -13.3% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 32407

• Home prices YoY: -29.5%
• Rents YoY: -0.2%
• Active inventory: 923
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,239 high
• Mortgage (P&I): −$1,429
• Tax est. 1.5%: −$341 /mo · $4,088/yr
• Insurance: −$114
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $-115

Break-even live

Break-even rent $2,384

Max offer price $255,896

Occupancy floor —

Sensitivity live

Price	-10% $74	-5% $-21	+0% $-115	+5% $-209	+10% $-303
Rent	-10% $-292	-5% $-203	+0% $-115	+5% $-26	+10% $62
Rate	-1.0pp $22	-0.5pp $-45	base $-115	+0.5pp $-185	+1.0pp $-257

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: $68,125
• Closing costs: $8,175
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
273 Palmeras Marinas Ln Panama City Beach, FL	3.0	2.5	1557	$3,200	$2.06	6d	1	0.33mi
204 Potters Bluff Dr Panama City Beach, FL	1.0–3.0	1.0–2.0	1035	$1,627	$1.57	0d	19	0.38mi
10400 Panama City Beach Pkwy Panama City Beach, FL	1.0–3.0	1.0–2.0	1151	$1,988	$1.73	0d	13	0.44mi
98 Paddock Club Dr Panama City Beach, FL	1.0–3.0	1.0–2.0	1093	$1,720	$1.57	0d	14	0.52mi
9700 Panama City Beach Pkwy Panama City Beach, FL	1.0–3.0	1.0–2.0	1038	$1,508	$1.45	0d	62	0.54mi
184 White Sandy Dr Panama City Beach, FL	2.0	3.0	1098	$2,450	$2.23	6d	1	0.58mi
133 W Leslie Ln Unit 1 Panama City Beach, FL	2.0	1.5	950	$2,200	$2.32	116d	1	0.58mi
131 W Leslie Ln Unit 131 Panama City Beach, FL	2.0	2.5	972	$2,300	$2.37	6d	1	0.58mi
135 Grande Island Blvd Unit 1355007P Panama City Beach, FL	3.0	3.5	1797	$2,759	$1.54	116d	1	0.64mi
136 Bonnie Ln Panama City Beach, FL	2.0	1.5	972	$1,590	$1.64	6d	1	0.66mi
138 Bonnie Ln Panama City Beach, FL	2.0	1.5	972	$1,599	$1.65	109d	1	0.67mi
104 White Cap Way Panama City Beach, FL	3.0	2.0	1146	$2,700	$2.36	116d	1	0.68mi
175 White Cap Way Unit 1 Panama City Beach, FL	3.0	2.5	1432	$1,750	$1.22	109d	1	0.73mi
133 White Cap Way Panama City Beach, FL	3.0	3.0	1432	$2,500	$1.75	6d	1	0.73mi
11222 Hutchison Blvd Unit 1523347P Panama City Beach, FL	2.0	2.0	1194	$3,907	$3.27	116d	1	0.73mi
11613 Sand Castle Ln Panama City Beach, FL	3.0	2.0	1320	$2,000	$1.52	6d	1	0.74mi
10625 Front Beach Rd Unit 1354975P Panama City Beach, FL	2.0	2.0	1140	$3,166	$2.78	109d	1	0.79mi
10811 Front Beach Rd Unit 1354928P Panama City Beach, FL	3.0	2.0	1194	$3,463	$2.90	109d	1	0.79mi
410 Foxtail Way Panama City Beach, FL	3.0	2.0	1676	$2,750	$1.64	116d	1	0.80mi
9815 S Thomas Dr Unit 1523339P Panama City, FL	3.0	2.0	1259	$4,018	$3.19	116d	1	0.81mi
104 Gulfside Ct Unit 1523320P Panama City Beach, FL	3.0	3.0	1496	$5,020	$3.36	109d	1	0.82mi
998 Gulfside Ct Unit 1523366P Panama City Beach, FL	2.0	2.0	1065	$4,124	$3.87	109d	1	0.84mi
520 N Richard Jackson Blvd #1912 Panama City Beach, FL	2.0	2.0	1200	$2,375	$1.98	109d	1	0.85mi
9902 S Thomas Dr Unit 1354966P Panama City Beach, FL	2.0	2.0	1259	$1,970	$1.56	109d	1	0.88mi
11723 Sand Castle Ln Panama City Beach, FL	3.0	2.0	1388	$2,500	$1.80	6d	1	0.88mi
9900 S Thomas Dr Panama City Beach, FL	1.0	2.0	907	$1,900	$2.09	6d	1	0.88mi
11709 Seashore Ln Panama City Beach, FL	3.0	2.0	1269	$2,300	$1.81	109d	1	0.91mi
220 Seahorse Way Panama City Beach, FL	3.0	2.0	1225	$1,800	$1.47	6d	1	0.94mi
800 Grand Panama Blvd Panama City Beach, FL	3.0	1.0–2.0	978	$2,290	$2.34	3d	36	1.15mi
1609 Vecuna Cir Panama City Beach, FL	3.0	2.0	1268	$2,100	$1.66	109d	1	1.22mi
9123 Laird St Panama City, FL	3.0	3.0	1200	$1,550	$1.29	6d	1	1.23mi
2226 Joan Ave #10 Panama City Beach, FL	3.0	2.5	1450	$2,500	$1.72	6d	1	1.25mi
2226 Joan Ave Panama City Beach, FL	3.0	2.5	1420	$2,395	$1.69	6d	1	1.25mi
335 Madison Cir Panama City Beach, FL	3.0	3.0	1682	$2,599	$1.55	116d	1	1.29mi
302 Cabana Blvd Panama City Beach, FL	1.0–3.0	1.0–2.0	1137	$1,561	$1.37	0d	14	1.36mi
8700 Front Beach Rd Panama City Beach, FL	2.0–3.0	2.5	1543	$1,750	$1.13	6d	4	1.36mi
8700 Front Beach Rd Panama City Beach, FL	2.0–3.0	2.5	1543	$2,200	$1.43	109d	2	1.36mi
12011 Front Beach Rd Unit 1523327P Panama City Beach, FL	2.0	2.0	1076	$3,796	$3.53	109d	1	1.38mi
2301 Anne Ave Unit 8901 Laird Panama City, FL	2.0	2.0	900	$1,625	$1.81	109d	1	1.39mi
2216 Anne Ave Panama City, FL	2.0	2.0	951	$1,300	$1.37	109d	1	1.39mi

HOA detail $0/mo · $0/yr condo

• Likely covers: watertrashcablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 27 events

1. 2026-06-21
   days on market $272,500 Active 349 DOM
2. 2026-06-19
   days on market $272,500 Active 347 DOM
3. 2026-06-18
   days on market $272,500 Active 346 DOM
4. 2026-06-17
   days on market $272,500 Active 345 DOM
5. 2026-06-16
   days on market $272,500 Active 344 DOM
6. 2026-06-15
   days on market $272,500 Active 343 DOM
7. 2026-06-14
   days on market $272,500 Active 341 DOM
8. 2026-06-13
   days on market $272,500 Active 340 DOM
9. 2026-06-10
   days on market $272,500 Active 338 DOM
10. 2026-06-09
    days on market $272,500 Active 337 DOM
11. 2026-06-08
    days on market $272,500 Active 336 DOM
12. 2026-06-07
    days on market $272,500 Active 335 DOM
13. 2026-06-05
    days on market $272,500 Active 332 DOM
14. 2026-06-03
    days on market $272,500 Active 331 DOM
15. 2026-06-02
    days on market $272,500 Active 330 DOM
16. 2026-06-01
    days on market $272,500 Active 329 DOM
17. 2026-05-31
    days on market $272,500 Active 328 DOM
18. 2026-05-30
    days on market $272,500 Active 327 DOM
19. 2026-03-31
    price $272,500 1969-char remark

    Show marketing remark (1969 chars)

    WOW HOA reduced their fees! They include cable, water, trash, landscape, and pool. $1586/quarter. Welcome to your peaceful retreat in The Glades -- a beautifully updated ground-floor condo offering privacy, sophistication, and a coveted beachside lifestyle. This charming and spacious 2-bedroom, 2-bath residence is perfectly designed for both comfort and convenience. With a thoughtful split-bedroom layout, each oversized bedroom is located on opposite ends of the home, offering optimal privacy and tranquility -- ideal for hosting guests or enjoying quiet moments to yourself. Step inside to find light and airy interiors filled with natural sunshine, thanks to large sliding doors. The open living area flows effortlessly into the kitchen, where stainless appliances, and a shiplap-accented bar set the tone for coastal elegance. Both bathrooms have been upgraded with quartz tile showers, adding a touch of spa-like luxury. Enjoy private preserve views from the living room and main en suite, and unwind on your secluded patio that opens directly to a serene natural backdrop -- the perfect spot for morning coffee or a quiet evening glass of wine. The covered entry adds a welcoming touch, and with the convenience of ground-floor access, this condo lives like a private villa. You're just a 7-minute golf cart ride from the world-famous white sand beaches of the Gulf, and only minutes from Pier Park, Duplin Winery, golf, and all the best dining, shopping, and entertainment Panama City Beach has to offer. The Glades community offers well-maintained amenities including a sparkling pool, and the neighborhood's quiet, tucked-away vibe makes it feel like a true hidden gem -- all while keeping you close to the action. Whether you're looking for a full-time residence, vacation getaway, or investment opportunity, this condo delivers luxury, location, and lifestyle in one unbeatable package. Schedule your private showing today -- your coastal escape awaits.

20. 2025-09-15
    price $275,000 1969-char remark

    Show marketing remark (1969 chars)

    WOW HOA reduced their fees! They include cable, water, trash, landscape, and pool. $1586/quarter. Welcome to your peaceful retreat in The Glades -- a beautifully updated ground-floor condo offering privacy, sophistication, and a coveted beachside lifestyle. This charming and spacious 2-bedroom, 2-bath residence is perfectly designed for both comfort and convenience. With a thoughtful split-bedroom layout, each oversized bedroom is located on opposite ends of the home, offering optimal privacy and tranquility -- ideal for hosting guests or enjoying quiet moments to yourself. Step inside to find light and airy interiors filled with natural sunshine, thanks to large sliding doors. The open living area flows effortlessly into the kitchen, where stainless appliances, and a shiplap-accented bar set the tone for coastal elegance. Both bathrooms have been upgraded with quartz tile showers, adding a touch of spa-like luxury. Enjoy private preserve views from the living room and main en suite, and unwind on your secluded patio that opens directly to a serene natural backdrop -- the perfect spot for morning coffee or a quiet evening glass of wine. The covered entry adds a welcoming touch, and with the convenience of ground-floor access, this condo lives like a private villa. You're just a 7-minute golf cart ride from the world-famous white sand beaches of the Gulf, and only minutes from Pier Park, Duplin Winery, golf, and all the best dining, shopping, and entertainment Panama City Beach has to offer. The Glades community offers well-maintained amenities including a sparkling pool, and the neighborhood's quiet, tucked-away vibe makes it feel like a true hidden gem -- all while keeping you close to the action. Whether you're looking for a full-time residence, vacation getaway, or investment opportunity, this condo delivers luxury, location, and lifestyle in one unbeatable package. Schedule your private showing today -- your coastal escape awaits.

21. 2025-07-07
    listed $295,000 Active 1969-char remark

    Show marketing remark (1969 chars)

    WOW HOA reduced their fees! They include cable, water, trash, landscape, and pool. $1586/quarter. Welcome to your peaceful retreat in The Glades -- a beautifully updated ground-floor condo offering privacy, sophistication, and a coveted beachside lifestyle. This charming and spacious 2-bedroom, 2-bath residence is perfectly designed for both comfort and convenience. With a thoughtful split-bedroom layout, each oversized bedroom is located on opposite ends of the home, offering optimal privacy and tranquility -- ideal for hosting guests or enjoying quiet moments to yourself. Step inside to find light and airy interiors filled with natural sunshine, thanks to large sliding doors. The open living area flows effortlessly into the kitchen, where stainless appliances, and a shiplap-accented bar set the tone for coastal elegance. Both bathrooms have been upgraded with quartz tile showers, adding a touch of spa-like luxury. Enjoy private preserve views from the living room and main en suite, and unwind on your secluded patio that opens directly to a serene natural backdrop -- the perfect spot for morning coffee or a quiet evening glass of wine. The covered entry adds a welcoming touch, and with the convenience of ground-floor access, this condo lives like a private villa. You're just a 7-minute golf cart ride from the world-famous white sand beaches of the Gulf, and only minutes from Pier Park, Duplin Winery, golf, and all the best dining, shopping, and entertainment Panama City Beach has to offer. The Glades community offers well-maintained amenities including a sparkling pool, and the neighborhood's quiet, tucked-away vibe makes it feel like a true hidden gem -- all while keeping you close to the action. Whether you're looking for a full-time residence, vacation getaway, or investment opportunity, this condo delivers luxury, location, and lifestyle in one unbeatable package. Schedule your private showing today -- your coastal escape awaits.

22. 2021-09-14
    soldstatus $200,000 687-char remark

    Show marketing remark (687 chars)

    Whether you are looking for your HOMESTEAD or your HOME away from home, this GROUND FLOOR home is your DESTINATION. With the well-designed, SPLIT BEDROOM PLAN, you'll find AMPLE storage and GENEROUS ROOM SIZES. The LIGHT-FILLED ROOMS are SPACIOUS and move easily throughout both the interior and beyond to TWO PLEASANT PATIOS. With a location closer to the Hathaway Bridge, you will be able to avoid much of the traffic that typically moves to the more western locations of the beach. This SMALL complex is tucked within the beautiful community of THE GLADES very close to the SUGAR SHORE of our INCREDIBLE beaches. Fine dining is within a few minutes; shopping and entertainment nearby.

23. 2021-07-10
    listed $200,000 687-char remark

    Show marketing remark (687 chars)

    Whether you are looking for your HOMESTEAD or your HOME away from home, this GROUND FLOOR home is your DESTINATION. With the well-designed, SPLIT BEDROOM PLAN, you'll find AMPLE storage and GENEROUS ROOM SIZES. The LIGHT-FILLED ROOMS are SPACIOUS and move easily throughout both the interior and beyond to TWO PLEASANT PATIOS. With a location closer to the Hathaway Bridge, you will be able to avoid much of the traffic that typically moves to the more western locations of the beach. This SMALL complex is tucked within the beautiful community of THE GLADES very close to the SUGAR SHORE of our INCREDIBLE beaches. Fine dining is within a few minutes; shopping and entertainment nearby.

24. 2017-01-18
    soldstatus $140,000
25. 2016-10-19
    listed $149,000
26. 2004-02-26
    soldstatus $155,000
27. 2003-11-30
    listed $155,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,862
• − Mortgage interest: −$15,264
• − Property taxes: −$4,088
• − Insurance: −$1,362
• − Repairs & maintenance: −$2,149
• − Management: −$2,149
• − Depreciation: −$7,927
• Taxable loss: −$6,077
• Est. tax savings @ 24.0%: +$1,459
• After-tax cash flow: $82/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab Est. rehab $6,850–$20,550 screening

This well-maintained and updated ground-floor condo in The Glades offers a peaceful retreat with a split-bedroom layout and a beachside lifestyle.

Value-add opportunities

• Resale Paint the interior walls — Fresh paint can make a significant difference in the home's appearance ↑
• Both Upgrade the flooring — New flooring can improve both the resale and rental value ↑
• Both Add smart home features — Smart home features can increase both the resale and rental value by making the home more convenient and attractive ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 52/100

Zoned Schools

Elementary Hutchison Beach Elementary School D+ FL #1,070/2,144 Nat'l #12,529/41,679 Middle Surfside Middle School B FL #148/571 Nat'l #2,008/14,009 High J.r. Arnold High School D FL #204/667 Nat'l #6,282/17,239

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

B Composite livability gradescore 78/100

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 · 206,264 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: 13% of renters

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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%

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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%

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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

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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

+75.8% since first listed

9 events — show timeline

• 2026-03-31 Price Changed $272,500 CPARMLS
• 2025-09-15 Price Changed $275,000 CPARMLS
• 2025-07-07 Listed $295,000 CPARMLS
• 2021-09-14 Sold (MLS) $200,000 CPARMLS
• 2021-07-10 Listed $200,000 CPARMLS
• 2017-01-18 Sold (MLS) $140,000 CPARMLS
• 2016-10-19 Listed $149,000 CPARMLS
• 2004-02-26 Sold (MLS) $155,000 CPARMLS
• 2003-11-30 Listed $155,000 CPARMLS