111 N Vestavia St · Panama City Beach, FL 32413

$259,000

3 bd · 2.0 ba · 1,215 sqft · Manufactured public records · 71 Days on market

Built 2019 7,405 sqft lot ↓ 4% since listing

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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 +23.7/30.0
• DSCR +7.6/10.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your coastal home! Conveniently located on the coveted West End, you are just moments away from the pristine beaches of Panama City Beach. This 5-year-old residence is move-in ready, catering to those in search of a primary residence, investment property, or seasonal home. Situated on a large 60 x 120 lot just off Back Beach Road, this energy-efficient 3 bedroom 2 bathroom home offers flexibility to accommodate your Florida lifestyle - you have plenty of room to park an RV or boat at your residence. The spacious kitchen has like-new appliances, seamlessly connecting to the expansive living area. Dining area offers easy access through sliding glass doors to the large covered front porch to sip your morning coffee and enjoy the cool gulf breeze. Master bedroom features a walk-in closet and ensuite bathroom with double vanities. Hall bath features a bath and shower combo while additional bedrooms have ample closet space. A custom built wood ramp provides easy access to the entry door. You are just a few steps from retail shopping, a bicycle ride to the beach, a 5-minute drive to Pier Park, and just 10 minutes away from 30A and Lake Powell. Don't miss this perfect blend of comfort and opportunity. Call today.

Key facts

• No hoa restrictions
• Oversized lot
• 7,405 sq ft lot

Tags

• ENERGY-EFFICIENT RESIDENCE
• OVERSIZED LOT
• LARGE COVERED FRONT PORCH
• CUSTOM-BUILT WOOD RAMP
• NO HOA RESTRICTIONS
• MOVE-IN READY CONVENIENCE

Property features AI

Finance

• Other: Zoned for single-family residences
• HOA & community: Short-term rentals allowed

Exterior

• Parking: Unpaved parking
• Utilities: Electricity available
• Home design: Single-story home
• Construction: Composition/shingle roof
• Exterior features: Covered patio; Balcony; Deck; Fenced

Interior

• Kitchen: Electric oven; Electric range
• Bedrooms: Primary bedroom (first floor)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air; Ceiling fan(s)
• Interior features: Accessible approach with ramp
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $259k.

Deal economics

• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $243k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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 flat; 1249 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 71 days — a 6% lower offer ($243k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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 $243,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% 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: 1.02% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.19%
• DSCR: 1.36
• GRM: 8.1

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: -6.5%
• Equity multiple: 0.77×
• Total profit: $-16,995
• Equity at exit: $38,618

10-year hold

• IRR: 0.1%
• Equity multiple: 1.00×
• Total profit: $240
• Equity at exit: $22,394

Cash invested: $72,520 (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: 1249
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,653 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$135 /mo · $1,623/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $495

Break-even live

Break-even rent $2,027

Max offer price $259,000

Occupancy floor 76%

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17751 Panama City Beach Pkwy Unit 2E Panama City Beach, FL	2.0	2.0	1100	$2,600	$2.36	21d	1	0.43mi
17751 Panama City Beach Pkwy Unit 1523371P Panama City Beach, FL	2.0	2.0	1097	$3,862	$3.52	21d	1	0.45mi
17735 Front Beach Rd Unit 1447171P Panama City Beach, FL	3.0	2.0	1227	$4,925	$4.01	21d	1	0.61mi
17614 Front Beach Rd Unit 16D Panama City Beach, FL	2.0	1.0	748	$1,600	$2.14	21d	1	0.69mi
220 Sundial St Unit 1447107P Panama City Beach, FL	4.0	2.0	1227	$2,691	$2.19	21d	1	0.70mi
19610 Alta Vista Dr Panama City Beach, FL	2.0	1.0	1000	$1,400	$1.40	13d	1	0.75mi
17545 Front Beach Rd Unit 1523333P Panama City, FL	2.0	2.0	1140	$6,472	$5.68	13d	1	0.92mi
127 Heather Dr Panama City Beach, FL	3.0	2.0	1297	$2,350	$1.81	13d	1	1.18mi
17225 Panama City Beach Pkwy Panama City Beach, FL	1.0–2.0	1.0–2.0	981	$1,719	$1.75	13d	10	1.43mi
216 Rose Ln Unit A Panama City Beach, FL	3.0	1.0	1280	$2,175	$1.70	13d	1	1.50mi

Listing history 15 events

1. 2026-05-13
   status Pending
2. 2026-04-12
   price $259,000
3. 2026-03-25
   price $260,000
4. 2026-03-18
   status Active
5. 2026-03-06
   status Pending
6. 2026-02-19
   listed $259,000 Active
7. 2024-03-25
   soldstatus $240,000
8. 2024-03-22
   soldstatus $232,250 Sold 1235-char remark

   Show marketing remark (1237 chars)

   Welcome to your coastal home! Conveniently located on the coveted West End, you are just moments away from the pristine beaches of Panama City Beach. This 5-year-old residence is move-in ready, catering to those in search of a primary residence, investment property, or seasonal home. Situated on a large 60 x 120 lot just off Back Beach Road, this energy-efficient 3 bedroom 2 bathroom home offers flexibility to accommodate your Florida lifestyle - you have plenty of room to park an RV or boat at your residence. The spacious kitchen has like-new appliances, seamlessly connecting to the expansive living area. Dining area offers easy access through sliding glass doors to the large covered front porch to sip your morning coffee and enjoy the cool gulf breeze. Master bedroom features a walk-in closet and ensuite bathroom with double vanities. Hall bath features a bath and shower combo while additional bedrooms have ample closet space. A custom built wood ramp provides easy access to the entry door. You are just a few steps from retail shopping, a bicycle ride to the beach, a 5-minute drive to Pier Park, and just 10 minutes away from 30A and Lake Powell. Don't miss this perfect blend of comfort and opportunity. Call today.

9. 2024-03-22
   soldstatus $232,250 Closed 1237-char remark

   Show marketing remark (1237 chars)

   Welcome to your coastal home! Conveniently located on the coveted West End, you are just moments away from the pristine beaches of Panama City Beach. This 5-year-old residence is move-in ready, catering to those in search of a primary residence, investment property, or seasonal home. Situated on a large 60 x 120 lot just off Back Beach Road, this energy-efficient 3 bedroom 2 bathroom home offers flexibility to accommodate your Florida lifestyle - you have plenty of room to park an RV or boat at your residence. The spacious kitchen has like-new appliances, seamlessly connecting to the expansive living area. Dining area offers easy access through sliding glass doors to the large covered front porch to sip your morning coffee and enjoy the cool gulf breeze. Master bedroom features a walk-in closet and ensuite bathroom with double vanities. Hall bath features a bath and shower combo while additional bedrooms have ample closet space. A custom built wood ramp provides easy access to the entry door. You are just a few steps from retail shopping, a bicycle ride to the beach, a 5-minute drive to Pier Park, and just 10 minutes away from 30A and Lake Powell. Don't miss this perfect blend of comfort and opportunity. Call today.

10. 2024-02-22
    status Pending 1237-char remark

    Show marketing remark (1237 chars)

    Welcome to your coastal home! Conveniently located on the coveted West End, you are just moments away from the pristine beaches of Panama City Beach. This 5-year-old residence is move-in ready, catering to those in search of a primary residence, investment property, or seasonal home. Situated on a large 60 x 120 lot just off Back Beach Road, this energy-efficient 3 bedroom 2 bathroom home offers flexibility to accommodate your Florida lifestyle - you have plenty of room to park an RV or boat at your residence. The spacious kitchen has like-new appliances, seamlessly connecting to the expansive living area. Dining area offers easy access through sliding glass doors to the large covered front porch to sip your morning coffee and enjoy the cool gulf breeze. Master bedroom features a walk-in closet and ensuite bathroom with double vanities. Hall bath features a bath and shower combo while additional bedrooms have ample closet space. A custom built wood ramp provides easy access to the entry door. You are just a few steps from retail shopping, a bicycle ride to the beach, a 5-minute drive to Pier Park, and just 10 minutes away from 30A and Lake Powell. Don't miss this perfect blend of comfort and opportunity. Call today.

11. 2024-02-16
    price $249,900 1235-char remark

    Show marketing remark (1235 chars)

    Welcome to your coastal home! Conveniently located on the coveted West End, you are just moments away from the pristine beaches of Panama City Beach. This 5-year-old residence is move-in ready, catering to those in search of a primary residence, investment property, or seasonal home. Situated on a large 60 x 120 lot just off Back Beach Road, this energy-efficient 3 bedroom 2 bathroom home offers flexibility to accommodate your Florida lifestyle - you have plenty of room to park an RV or boat at your residence. The spacious kitchen has like-new appliances, seamlessly connecting to the expansive living area. Dining area offers easy access through sliding glass doors to the large covered front porch to sip your morning coffee and enjoy the cool gulf breeze. Master bedroom features a walk-in closet and ensuite bathroom with double vanities. Hall bath features a bath and shower combo while additional bedrooms have ample closet space. A custom built wood ramp provides easy access to the entry door. You are just a few steps from retail shopping, a bicycle ride to the beach, a 5-minute drive to Pier Park, and just 10 minutes away from 30A and Lake Powell. Don't miss this perfect blend of comfort and opportunity. Call today.

12. 2024-02-13
    price $249,900 1237-char remark

    Show marketing remark (1237 chars)

    Welcome to your coastal home! Conveniently located on the coveted West End, you are just moments away from the pristine beaches of Panama City Beach. This 5-year-old residence is move-in ready, catering to those in search of a primary residence, investment property, or seasonal home. Situated on a large 60 x 120 lot just off Back Beach Road, this energy-efficient 3 bedroom 2 bathroom home offers flexibility to accommodate your Florida lifestyle - you have plenty of room to park an RV or boat at your residence. The spacious kitchen has like-new appliances, seamlessly connecting to the expansive living area. Dining area offers easy access through sliding glass doors to the large covered front porch to sip your morning coffee and enjoy the cool gulf breeze. Master bedroom features a walk-in closet and ensuite bathroom with double vanities. Hall bath features a bath and shower combo while additional bedrooms have ample closet space. A custom built wood ramp provides easy access to the entry door. You are just a few steps from retail shopping, a bicycle ride to the beach, a 5-minute drive to Pier Park, and just 10 minutes away from 30A and Lake Powell. Don't miss this perfect blend of comfort and opportunity. Call today.

13. 2024-01-09
    price $269,900 1237-char remark

    Show marketing remark (1237 chars)

    Welcome to your coastal home! Conveniently located on the coveted West End, you are just moments away from the pristine beaches of Panama City Beach. This 5-year-old residence is move-in ready, catering to those in search of a primary residence, investment property, or seasonal home. Situated on a large 60 x 120 lot just off Back Beach Road, this energy-efficient 3 bedroom 2 bathroom home offers flexibility to accommodate your Florida lifestyle - you have plenty of room to park an RV or boat at your residence. The spacious kitchen has like-new appliances, seamlessly connecting to the expansive living area. Dining area offers easy access through sliding glass doors to the large covered front porch to sip your morning coffee and enjoy the cool gulf breeze. Master bedroom features a walk-in closet and ensuite bathroom with double vanities. Hall bath features a bath and shower combo while additional bedrooms have ample closet space. A custom built wood ramp provides easy access to the entry door. You are just a few steps from retail shopping, a bicycle ride to the beach, a 5-minute drive to Pier Park, and just 10 minutes away from 30A and Lake Powell. Don't miss this perfect blend of comfort and opportunity. Call today.

14. 2023-11-18
    listed $269,900 Active 1235-char remark

    Show marketing remark (1237 chars)

    Welcome to your coastal home! Conveniently located on the coveted West End, you are just moments away from the pristine beaches of Panama City Beach. This 5-year-old residence is move-in ready, catering to those in search of a primary residence, investment property, or seasonal home. Situated on a large 60 x 120 lot just off Back Beach Road, this energy-efficient 3 bedroom 2 bathroom home offers flexibility to accommodate your Florida lifestyle - you have plenty of room to park an RV or boat at your residence. The spacious kitchen has like-new appliances, seamlessly connecting to the expansive living area. Dining area offers easy access through sliding glass doors to the large covered front porch to sip your morning coffee and enjoy the cool gulf breeze. Master bedroom features a walk-in closet and ensuite bathroom with double vanities. Hall bath features a bath and shower combo while additional bedrooms have ample closet space. A custom built wood ramp provides easy access to the entry door. You are just a few steps from retail shopping, a bicycle ride to the beach, a 5-minute drive to Pier Park, and just 10 minutes away from 30A and Lake Powell. Don't miss this perfect blend of comfort and opportunity. Call today.

15. 2023-11-18
    listed $275,000 Active 1237-char remark

    Show marketing remark (1237 chars)

    Welcome to your coastal home! Conveniently located on the coveted West End, you are just moments away from the pristine beaches of Panama City Beach. This 5-year-old residence is move-in ready, catering to those in search of a primary residence, investment property, or seasonal home. Situated on a large 60 x 120 lot just off Back Beach Road, this energy-efficient 3 bedroom 2 bathroom home offers flexibility to accommodate your Florida lifestyle - you have plenty of room to park an RV or boat at your residence. The spacious kitchen has like-new appliances, seamlessly connecting to the expansive living area. Dining area offers easy access through sliding glass doors to the large covered front porch to sip your morning coffee and enjoy the cool gulf breeze. Master bedroom features a walk-in closet and ensuite bathroom with double vanities. Hall bath features a bath and shower combo while additional bedrooms have ample closet space. A custom built wood ramp provides easy access to the entry door. You are just a few steps from retail shopping, a bicycle ride to the beach, a 5-minute drive to Pier Park, and just 10 minutes away from 30A and Lake Powell. Don't miss this perfect blend of comfort and opportunity. Call today.

ⓘ 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: $1,623 · $135/mo
• Projected year-2 tax: $2,150 · $179/mo
• Expected delta: +$526/yr (+$44/mo · 32.4%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,840
• − Mortgage interest: −$14,508
• − Property taxes: −$1,623
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,547
• − Management: −$2,547
• − Depreciation: −$7,535
• Taxable income: $1,785
• Est. tax owed @ 24.0%: −$428
• After-tax cash flow: $5,509/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

-4.0% since first listed

15 events — show timeline

• 2026-05-13 Pending — CPARMLS
• 2026-04-12 Price Changed $259,000 CPARMLS
• 2026-03-25 Price Changed $260,000 CPARMLS
• 2026-03-18 Relisted — CPARMLS
• 2026-03-06 Pending — CPARMLS
• 2026-02-19 Listed $259,000 CPARMLS
• 2024-03-25 Sold (Public Records) $240,000 Public Records
• 2024-03-22 Sold (MLS) $232,250 CPARMLS
• 2024-03-22 Sold (MLS) $232,250 ECAR
• 2024-02-22 Pending — CPARMLS
• 2024-02-16 Price Changed $249,900 ECAR
• 2024-02-13 Price Changed $249,900 CPARMLS
• 2024-01-09 Price Changed $269,900 CPARMLS
• 2023-11-18 Listed $275,000 CPARMLS
• 2023-11-18 Listed $269,900 ECAR

Property tax history

+12.8%/yr

Latest (2025): $1,623 · +1.7% YoY. Source: county tax records.