1504 Lighthouse Rd · Panama City Beach, FL 32407

$240,000

4 bd · 3.0 ba · 1,400 sqft · Condo public records · 146 Days on market

Built 2007 $171/sqft · 46% below area Est $381k · 37% 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).

• ARV discount +15.0/15.0
• Cash flow +14.2/30.0
• DSCR +4.3/10.0
• 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

Welcome to this beautifully maintained, fully furnished condo located at 1504 Lighthouse Rd, Panama City, FL 32407. Whether you’re looking for a primary residence, vacation getaway, or investment property, this turnkey home is ready for you from day one. This bright and inviting condo features an open-concept living and dining area, perfect for relaxing or entertaining. The thoughtfully selected furniture and décor are included with the sale, allowing you to move in or start renting immediately with no extra hassle. The kitchen offers ample cabinet space and flows seamlessly into the main living area, while the bedrooms provide comfortable retreats after a day at the beach. Located in the heart of Panama City, this condo is just minutes from the beach, shopping, dining, entertainment, and local attractions. Enjoy the convenience of coastal living with easy access to everything the area has to offer. Highlights include: Sold fully furnished (all furniture included) Move-in or rental ready Prime location near beaches, restaurants, and shopping Ideal as a primary home, vacation property, or investment For Sale By Owner Don’t miss this opportunity to own a fully furnished condo in one of Panama City’s most convenient locations. Schedule your showing today!

Key facts

• Fully furnished
• 2 garage spots
• Built 2007

Tags

• FULLY FURNISHED
• MOVE-IN OR RENTAL READY
• PRIME LOCATION NEAR BEACHES
• PRIME LOCATION NEAR SHOPPING

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath condo listed at $240k.

Deal economics

• At list price, monthly cash flow is $41 ($493/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 $211k (12.3% below list).
• Recommended offer: $211k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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); 702 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 31% 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 $7k 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 146 days — a 12% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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.

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 $210,544 (12.3% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.88% ✗
• Cap rate: 6.50%
• Cash-on-cash: 0.73%
• DSCR: 1.03
• GRM: 9.5

CMA / ARV

• ARV (median comp): $380,772
• List price: $240,000
• Delta: -36.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
221 Skylah Ln #11	0.67mi	3/2.5 (-1)	1,513 (+8%)	16mo	$314,900	$208	35

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: -18.5%
• Equity multiple: 0.37×
• Total profit: $-42,434
• Equity at exit: $35,785

10-year hold

• IRR: -18.1%
• Equity multiple: 0.15×
• Total profit: $-57,387
• Equity at exit: $20,751

Cash invested: $67,200 (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: 702
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,105 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$264 /mo · $3,163/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$442
• Net cashflow: $41

Break-even live

Break-even rent $2,053

Max offer price $240,000

Occupancy floor 93%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Cape Cod Dr Panama City Beach, FL	3.0	2.0	1195	$1,700	$1.42	20d	1	0.16mi
303 Lighthouse Rd Panama City Beach, FL	4.0	3.0	1400	$1,900	$1.36	20d	1	0.18mi
14108 Pelican St Panama City Beach, FL	4.0	3.0	1832	$2,700	$1.47	13d	1	0.49mi
1105 Clara Ave Panama City Beach, FL	3.0	1.0–2.0	938	$2,099	$2.24	13d	14	0.70mi
314 Evergreen St Panama City Beach, FL	3.0	2.0	960	$1,800	$1.88	20d	1	0.75mi
900 Clara Ave Panama City Beach, FL	1.0–3.0	1.0–2.0	1134	$2,175	$1.92	13d	15	0.80mi
106 Middleburg Dr Panama City Beach, FL	3.0	2.0	1807	$2,695	$1.49	20d	1	1.42mi

HOA detail condo

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

Listing history 28 events

1. 2026-06-19
   days on market $240,000 Active 146 DOM
2. 2026-06-18
   days on market $240,000 Active 145 DOM
3. 2026-06-17
   days on market $240,000 Active 144 DOM
4. 2026-06-16
   days on market $240,000 Active 143 DOM
5. 2026-06-15
   days on market $240,000 Active 142 DOM
6. 2026-06-14
   days on market $240,000 Active 140 DOM
7. 2026-06-13
   days on market $240,000 Active 139 DOM
8. 2026-06-10
   days on market $240,000 Active 137 DOM
9. 2026-06-09
   days on market $240,000 Active 136 DOM
10. 2026-06-08
    days on market $240,000 Active 135 DOM
11. 2026-06-07
    days on market $240,000 Active 134 DOM
12. 2026-06-05
    days on market $240,000 Active 131 DOM
13. 2026-06-03
    days on market $240,000 Active 130 DOM
14. 2026-06-02
    days on market $240,000 Active 129 DOM
15. 2026-06-01
    days on market $240,000 Active 128 DOM
16. 2026-05-31
    days on market $240,000 Active 127 DOM
17. 2026-05-30
    days on market $240,000 Active 126 DOM
18. 2026-01-20
    listed $240,000 Active 1303-char remark

    Show marketing remark (1303 chars)

    Welcome to this beautifully maintained, fully furnished condo located at 1504 Lighthouse Rd, Panama City, FL 32407. Whether you’re looking for a primary residence, vacation getaway, or investment property, this turnkey home is ready for you from day one. This bright and inviting condo features an open-concept living and dining area, perfect for relaxing or entertaining. The thoughtfully selected furniture and décor are included with the sale, allowing you to move in or start renting immediately with no extra hassle. The kitchen offers ample cabinet space and flows seamlessly into the main living area, while the bedrooms provide comfortable retreats after a day at the beach. Located in the heart of Panama City, this condo is just minutes from the beach, shopping, dining, entertainment, and local attractions. Enjoy the convenience of coastal living with easy access to everything the area has to offer. Highlights include: Sold fully furnished (all furniture included) Move-in or rental ready Prime location near beaches, restaurants, and shopping Ideal as a primary home, vacation property, or investment For Sale By Owner Don’t miss this opportunity to own a fully furnished condo in one of Panama City’s most convenient locations. Schedule your showing today!

19. 2024-04-01
    historical
20. 2023-11-09
    price $305,000
21. 2023-11-03
    listed $315,000 Active
22. 2023-10-23
    historical $2,200
23. 2023-10-12
    price $2,200
24. 2023-10-08
    listed $2,500
25. 2023-06-09
    soldstatus $225,000
26. 2019-05-13
    soldstatus $153,000
27. 2019-05-13
    soldstatus $153,000
28. 2019-03-12
    listed $153,000

ⓘ 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: $3,163 · $264/mo
• Projected year-2 tax: $3,163 · $264/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 10/10 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: $25,265
• − Mortgage interest: −$13,444
• − Property taxes: −$3,163
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,021
• − Management: −$2,021
• − Depreciation: −$6,982
• Taxable loss: −$3,566
• Est. tax savings @ 24.0%: +$856
• After-tax cash flow: $1,349/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): 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

+56.9% since first listed

11 events — show timeline

• 2026-01-20 Listed $240,000 Fizber.com
• 2024-04-01 Listing Removed — CPARMLS
• 2023-11-09 Price Changed $305,000 CPARMLS
• 2023-11-03 Listed $315,000 CPARMLS
• 2023-10-23 Rental Removed $2,200 TURBOTENANT
• 2023-10-12 Price Changed $2,200 TURBOTENANT
• 2023-10-08 Listed for Rent $2,500 TURBOTENANT
• 2023-06-09 Sold (Public Records) $225,000 Public Records
• 2019-05-13 Sold (Public Records) $153,000 Public Records
• 2019-05-13 Sold (MLS) $153,000 CPARMLS
• 2019-03-12 Listed $153,000 CPARMLS

Property tax history

+10.0%/yr

Latest (2025): $3,163 · +8.8% YoY. Source: county tax records.