3113 W 20th Ct · Panama City, FL 32405

$5,000

3 bd · 1.0 ba · 1,142 sqft · SingleFamily public records · 2 Days on market

Built 1959

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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 +9.4/30.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• 1% rule +2.8/10.0
• Rent growth +2.8/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Foreclosure Auction Ends June 25, 2026 at 12:00 PM EST. Discover this inviting 3-bedroom, 1-bathroom single-family home, offering a great opportunity in the desirable Panama City area. The list price is the opening bid for the online auction. Sold As-is. Explore more details and submit your bid through Federa.

Key facts

• Built 1959

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking:
• Security:
• Utilities:
• Home design: Residential property; 1 story
• Construction:
• Exterior features: Lot approximately 0.24 acres; Zoned RLD 1

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: 1 full bathroom
• Heating & cooling:
• Interior features: Single-story interior
• Laundry & utility:

🔨 Auction listing. The $5,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $216,980 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $5k.

Deal economics

• At list price, monthly cash flow is $-280 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $5k).

Location & tenants

• Location reads 72/100 on livability (#350 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, 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 rising (+1.2%/yr); 381 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).

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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 21y 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

• Watch-outs: property tax is 65.1% of price; flood insurance adds $125/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $5,000

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. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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?
9. 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.
10. 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.
11. 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: 0.78% ✗
• Cap rate: 5.43%
• Cash-on-cash: -3.07%
• DSCR: 0.86
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $216,980
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2205 Forest Ave	0.26mi	3/1.5	1,090 (-5%)	9mo	$205,000	$188	70
3942 W 21st Pl	0.52mi	3/2.0	1,196 (+5%)	7mo	$237,000	$198	58
2003 Drummond Ave	0.27mi	3/2.0	1,242 (+9%)	13mo	$225,000	$181	58
3926 W 21st Pl	0.47mi	3/2.0	1,196 (+5%)	10mo	$234,900	$196	58
1903 Arthur Ave	0.56mi	3/1.0	1,069 (-6%)	13mo	$185,000	$173	52
1712 Wilmont Ave	0.45mi	3/1.0	1,211 (+6%)	22mo	$230,000	$190	51
1708 Lake Ave	0.36mi	2/1.0 (-1)	1,000 (-12%)	9mo	$110,000	$110	50
1903 Chestnut Ave	0.26mi	3/2.0	1,300 (+14%)	18mo	$180,000	$138	45
1711 Wilmont Ave Unit 1/2	0.43mi	3/2.0	1,040 (-9%)	21mo	$180,000	$173	43
2209 W 21st St	0.68mi	3/2.0	1,240 (+9%)	19mo	$269,900	$218	34
2305 Mound Ave	0.75mi	3/2.0	1,288 (+13%)	15mo	$350,000	$272	27
1517 Molitor Ave	0.65mi	3/2.0	1,292 (+13%)	21mo	$319,000	$247	26

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 · 1.24% rent growth · sell at horizon

5-year hold

• IRR: -27.9%
• Equity multiple: 0.08×
• Total profit: $-55,884
• Equity at exit: $32,352

10-year hold

• IRR: -35.4%
• Equity multiple: -0.37×
• Total profit: $-82,980
• Equity at exit: $18,760

Cash invested: $60,754 (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 32405

• Rents YoY: 1.2%
• Active inventory: 381
• Price-to-rent: 0.2×

Monthly cashflow live

• Estimated rent: $1,702 high
• Mortgage (P&I): −$1,138
• Tax est. 1.5%: −$271 /mo · $3,255/yr
• Insurance: −$90
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$357
• Net cashflow: $-280

Break-even live

Break-even rent $2,057

Max offer price $176,391

Occupancy floor —

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: $54,245
• Closing costs: $6,509
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3722 Burnham Way Panama City, FL	3.0	2.0	1040	$1,600	$1.54	20d	1	0.35mi
1710 Drake Ave Panama City, FL	3.0	2.0	1130	$1,850	$1.64	20d	1	0.49mi
4105 W 22nd St Unit 4105 Panama City, FL	3.0	2.0	1000	$1,395	$1.40	20d	1	0.59mi
1804 Arthur Ave Panama City, FL	3.0	1.5	1044	$1,795	$1.72	20d	1	0.60mi
1913 Laurel Ave Unit A Panama City, FL	2.0	2.5	1238	$1,725	$1.39	13d	1	0.60mi
4324 W 20th St Panama City, FL	1.0–3.0	1.0–2.5	1000	$1,630	$1.63	13d	12	0.87mi
4455 W 19th St #17 Panama City, FL	2.0	1.5	1104	$1,400	$1.27	20d	1	0.88mi
2602 W 12th St Panama City, FL	3.0	2.0	1400	$2,095	$1.50	20d	1	1.09mi
1301 Frankford Ave Apt B104 Panama City, FL	2.0	1.0	780	$1,000	$1.28	13d	1	1.12mi
2100 W Beach Dr Unit F102 Panama City, FL	2.0	1.0	970	$1,700	$1.75	20d	1	1.50mi

Listing history 3 events

1. 2026-06-19
   days on market $5,000 Active 2 DOM
2. 2026-06-17
   remarks 311-char remark
3. 2026-06-17
   listed $5,000 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone A · 17% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 21 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: $20,418
• − Mortgage interest: −$12,154
• − Property taxes: −$3,255
• − Insurance: −$2,587
• − Repairs & maintenance: −$1,633
• − Management: −$1,633
• − Depreciation: −$6,312
• Taxable loss: −$7,157
• Est. tax savings @ 24.0%: +$1,718
• After-tax cash flow: $-1,648/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

• Score: 72/100
• State rank: #350
• US rank: #5823

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Panama City, FL
• County: Bay County · 163,593 people
• City population: 91,445
• Metro: Panama City, FL
• Population (ZIP): 29,984
• Household income: $73,373
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1008.0

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 (67%)
• Race & ethnicity: White 67% Black 17% Two or more races 8% Hispanic / Latino 7% Native American 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 4% Lithuanian 2% Romanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 6% Arabic 1% French/Haitian/Cajun 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: ▼ -217.88%
• Current HPI: 262.7854
• Rent YoY: ▲ 1.24%
• 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

-86.1% since first listed

4 events — show timeline

• 2026-06-17 Listed $5,000 NFMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2005-11-03 Listed $154,900 CPARMLS
• 1986-09-01 Sold (Public Records) $35,900 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,968 · +7.4% YoY. Source: county tax records.