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1421 Martin Luther King Junior Blvd Unit B
D- Composite 35.61
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 +8.3/15.0
  • Cash flow +8.2/30.0
  • Schools +4.1/10.0
  • Condition / age +4.0/5.0
  • Livability +3.6/5.0
  • 1% rule +2.6/10.0
  • Rent growth +2.6/5.0
  • DSCR +2.2/10.0
  • Appreciation +0.0/10.0

$199,000

1421 Martin Luther King Junior Blvd Unit B · Panama City, FL 32401
2 bd · 2.5 ba · 1,007 sqft · SingleFamily · 145 Days on market
Built 2026 Good condition 1,655 sqft lot Garage $198/sqft · at area comps Est $203k · at est. ↓ 2% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

Perfectly positioned for convenience and comfort, this beautifully designed 2-bedroom, 2.5-bath townhome offers easy access to shopping, dining, schools, and is just minutes from the new Martin Luther King Jr. Recreation Center. The main level features a spacious open living area and a well-appointed kitchen with stainless steel appliances, making everyday living and entertaining effortless. A private garage adds everyday convenience with secure parking, additional storage space, and easy access during Florida's unpredictable weather. Upstairs, each bedroom features its own private bathroom, creating the ideal setup for families, guests, or roommates who appreciate privacy.

Key facts

  • Private garage
  • Open living area
  • Private bathroom

Tags

PRIVATE GARAGEWELL-APPOINTED KITCHENSTAINLESS STEEL APPLIANCESOPEN LIVING AREAPRIVATE BATHROOMGENEROUS CLOSET SPACE

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2-bed/2.5-bath single-family listed at $199k. Condition is rated good.

Deal economics

  • At list price, monthly cash flow is $-188 ($-2k/yr) — negative.
  • To cash-flow at today's rent, offer at most $172k (13.7% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (24.5% below list).
  • Recommended offer: $150k (24.5% below list) — sets the bar for 1% rule.

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.
  • Zoned schools: Northside Elementary School (math 49% / reading 45%, grade D-, #1,191 of 2,144 statewide, top 57%, 598 students, 59% FRL); Jinks Middle School (math 41% / reading 42%, grade F, #348 of 571 statewide, top 62%, 570 students, 70% FRL); Bay High School (math 37% / reading 34%, grade F, #367 of 667 statewide, top 57%, 1,255 students, 53% FRL).
  • Market conditions: Rents flat; 401 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 109d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
  • This rent runs 34% of the median local income ($53k/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 $1k of loan paydown is wiped out by about $6k 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 145 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $150,319 (24.5% 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 145 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
  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. 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?
  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 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
0.76%
Cap rate
5.16%
Cash-on-cash
-4.04%
DSCR
0.82
GRM
11.0

CMA / ARV

ARV (median comp)
$202,783
List price
$199,000
Delta
-1.87%
Verdict
FAIR
Comps
20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
1218 Louisiana Ave 0.20mi 3/2.0 (+1) 1,072 (+6%) 0mo $225,000 $210 72
718 E 12th St 0.32mi 2/2.0 910 (-10%) 8mo $190,000 $209 61
1210 Hamilton Ave 0.24mi 3/2.0 (+1) 1,122 (+11%) 10mo $255,000 $227 54
1208 Louisiana Ave 0.25mi 3/2.0 (+1) 1,122 (+11%) 11mo $125,000 $111 53
1332 N Palo Alto Ave 0.19mi 3/1.0 (+1) 1,134 (+13%) 8mo $150,000 $132 53
908 Cone Ave 0.68mi 3/1.0 (+1) 988 (-2%) 3mo $115,000 $116 52
709 E 10th Ct 0.44mi 3/2.0 (+1) 1,137 (+13%) 1mo $225,000 $198 50
911 Wilson Ave 0.66mi 2/2.0 900 (-11%) 3mo $242,500 $269 47
1017 E Hamilton Ave 0.46mi 2/1.0 856 (-15%) 8mo $258,000 $301 41
713 E 10th Ct 0.44mi 3/2.0 (+1) 1,152 (+14%) 11mo $225,000 $195 40
910 E 9th Ct 0.64mi 3/2.0 (+1) 1,111 (+10%) 8mo $225,000 $203 40
909 Louisiana Ave 0.62mi 3/2.0 (+1) 1,137 (+13%) 8mo $240,000 $211 36

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 · 0.45% rent growth · sell at horizon

5-year hold
IRR
-26.0%
Equity multiple
0.14×
Total profit
$-47,941
Equity at exit
$29,672
10-year hold
IRR
-33.7%
Equity multiple
-0.29×
Total profit
$-71,715
Equity at exit
$17,206

Cash invested: $55,720 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
22 active · 11 under contract
Months of supply
13.2 mo (8%/mo absorbed)
Median asking
$215,000 ($208/sqft)
Median days on market
113 d
This list price
14% of active listings are priced below it
ARV vs active asking
-3.1% vs current asking $/sqft

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

ZIP-level market 32401

Home prices YoY
-32.9%
Rents YoY
0.5%
Active inventory
401
Price-to-rent
11.0×

Monthly cashflow live

Estimated rent
$1,503 high interval (Pro) →
Mortgage (P&I)
$1,044
Tax est. 1.5%
$249 /mo · $2,985/yr
Insurance
$83
HOA
$0
Vacancy / Maint / Mgmt
$316
Net cashflow
$-188

Break-even live

Break-even rent $1,741
Max offer price $171,836
Occupancy floor

Sensitivity live

Price -10% $-50 -5% $-119 +0% $-188 +5% $-256 +10% $-325
Rent -10% $-306 -5% $-247 +0% $-188 +5% $-128 +10% $-69
Rate -1.0pp $-88 -0.5pp $-137 base $-188 +0.5pp $-239 +1.0pp $-292

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
$49,750
Closing costs
$5,970
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 24 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
606 E 13th St Unit 1 Panama City, FL 2.0 1.0 700 $1,250 $1.79 116d 1 0.20mi
1114 Mc Kenzie Ave Unit 1 Panama City, FL 2.0 1.0 880 $1,850 $2.10 116d 1 0.50mi
1129 Magnolia Ave Panama City, FL 2.0 1.0 828 $895 $1.08 6d 1 0.59mi
400 E 19th St Unit A1 Panama City, FL 2.0 2.0 785 $1,095 $1.39 108d 1 0.66mi
1525 Oak Ave Panama City, FL 3.0 1.5 1280 $2,200 $1.72 116d 1 0.78mi
2002 Wilson Ave Panama City, FL 1.0–3.0 1.0–2.0 977 $1,754 $1.79 0d 27 0.81mi
265 15th St Panama City, FL 1.0–3.0 1.0–2.0 967 $1,252 $1.29 108d 4 0.83mi
1538 Mulberry Ave Panama City, FL 2.0 1.5 1000 $1,100 $1.10 6d 1 0.85mi
1164 Mulberry Ave Panama City, FL 2.0 2.0 1234 $1,495 $1.21 6d 1 0.86mi
1132 Mulberry Ave Panama City, FL 3.0 2.0 1400 $1,795 $1.28 6d 1 0.88mi
2121 Harrison Ave Panama City, FL 1.0–2.0 1.0–2.0 800 $1,550 $1.94 116d 13 0.97mi
2121 Harrison Ave Panama City, FL 2.0 2.0 900 $1,525 $1.69 2d 5 1.00mi
705 Satsuma Ave Panama City, FL 3.0 2.0 1030 $1,700 $1.65 5d 1 1.10mi
540 E 4th Ct Panama City, FL 2.0 2.0 1196 $1,800 $1.51 116d 1 1.26mi
723 W 19th St Panama City, FL 2.0 2.0 1170 $1,596 $1.36 2d 15 1.29mi
725 Sherman Ave Unit B Panama City, FL 3.0 1.0 878 $1,250 $1.42 116d 1 1.30mi
388 Massalina Dr Panama City, FL 2.0 2.0 800 $1,800 $2.25 108d 1 1.33mi
810 E 25th St Panama City, FL 2.0 2.0 1000 $1,050 $1.05 6d 1 1.33mi
804 College Ave Panama City, FL 2.0 1.0 810 $1,250 $1.54 6d 1 1.43mi
300 W 23rd Pl Unit 1491599P Panama City, FL 2.0 1.5 1313 $2,592 $1.97 116d 1 1.44mi
329 N Palo Alto Ave Unit B Panama City, FL 1.0 1.0 800 $750 $0.94 116d 1 1.44mi
329 N Palo Alto Ave Panama City, FL 3.0 2.0 1300 $1,950 $1.50 108d 1 1.44mi
335 Massalina Dr Panama City, FL 1.0 1.0 742 $1,200 $1.62 108d 1 1.46mi
2623 E 16th St Unit A Panama City, FL 3.0 2.0 1250 $1,395 $1.12 6d 1 1.49mi

Property features AI

Finance

HOA & community
Short-term rentals allowed

Exterior

Parking
Attached garage with garage door opener (1 car)
Security
Fire alarm
Utilities
Electricity availableHigh-speed internet availableSewer available
Home design
New constructionTwo-story propertySlab foundation
Construction
HardiPlank exteriorWood frame constructionMetal roof
Exterior features
Paved lotCity street frontagePublicly maintained road

Interior

Kitchen
Electric cooktopElectric ovenIcemaker
Bedrooms
Two bedrooms, both on the second floor (approx. 12 x 10 and 13 x 13)
Bathrooms
Two full bathrooms and one half bathroom
Heating & cooling
Central heating (electric)Central air conditioningCeiling fans
Interior features
Double-pane windowsFire alarm
Laundry & utility
Electric water heater

Listing history 50 events

  1. 2026-09-24
    days on market $199,000 Active 145 DOM
  2. 2026-09-22
    days on market $199,000 Active 144 DOM
  3. 2026-09-20
    days on market $199,000 Active 142 DOM
  4. 2026-09-19
    days on market $199,000 Active 141 DOM
  5. 2026-09-18
    days on market $199,000 Active 140 DOM
  6. 2026-09-17
    days on market $199,000 Active 139 DOM
  7. 2026-09-16
    days on market $199,000 Active 138 DOM
  8. 2026-09-15
    days on market $199,000 Active 137 DOM
  9. 2026-09-14
    days on market $199,000 Active 136 DOM
  10. 2026-09-13
    days on market $199,000 Active 135 DOM
  11. 2026-09-12
    days on market $199,000 Active 134 DOM
  12. 2026-09-12
    days on market $199,000 Active 133 DOM
  13. 2026-09-05
    days on market $199,000 Active 127 DOM
  14. 2026-09-04
    days on market $199,000 Active 126 DOM
  15. 2026-09-03
    days on market $199,000 Active 125 DOM
  16. 2026-08-30
    days on market $199,000 Active 121 DOM
  17. 2026-08-29
    days on market $199,000 Active 120 DOM
  18. 2026-08-28
    days on market $199,000 Active 119 DOM
  19. 2026-08-27
    days on market $199,000 Active 118 DOM
  20. 2026-08-26
    days on market $199,000 Active 117 DOM
  21. 2026-08-25
    days on market $199,000 Active 116 DOM
  22. 2026-08-24
    days on market $199,000 Active 115 DOM
  23. 2026-08-23
    days on market $199,000 Active 114 DOM
  24. 2026-08-22
    days on market $199,000 Active 113 DOM
  25. 2026-08-21
    days on market $199,000 Active 112 DOM
  26. 2026-08-20
    days on market $199,000 Active 111 DOM
  27. 2026-08-19
    days on market $199,000 Active 110 DOM
  28. 2026-08-18
    days on market $199,000 Active 109 DOM
  29. 2026-08-17
    days on market $199,000 Active 108 DOM
  30. 2026-08-16
    days on market $199,000 Active 107 DOM
  31. 2026-08-15
    days on market $199,000 Active 106 DOM
  32. 2026-08-14
    days on market $199,000 Active 105 DOM
  33. 2026-08-13
    days on market $199,000 Active 104 DOM
  34. 2026-08-12
    days on market $199,000 Active 103 DOM
  35. 2026-08-11
    days on market $199,000 Active 102 DOM
  36. 2026-08-10
    days on market $199,000 Active 101 DOM
  37. 2026-08-09
    days on market $199,000 Active 100 DOM
  38. 2026-08-08
    days on market $199,000 Active 99 DOM
  39. 2026-08-07
    days on market $199,000 Active 98 DOM
  40. 2026-08-06
    days on market $199,000 Active 97 DOM
  41. 2026-08-05
    days on market $199,000 Active 96 DOM
  42. 2026-08-04
    days on market $199,000 Active 95 DOM
  43. 2026-08-03
    days on market $199,000 Active 94 DOM
  44. 2026-07-31
    days on market $199,000 Active 91 DOM
  45. 2026-07-30
    days on market $199,000 Active 90 DOM
  46. 2026-07-30
    price $199,000 Active 89 DOM
  47. 2026-07-29
    days on market $204,000 Active 89 DOM
  48. 2026-07-27
    days on market $204,000 Active 87 DOM
  49. 2026-07-25
    days on market $204,000 Active 85 DOM
  50. 2026-07-23
    days on market $204,000 Active 83 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
  • 🔥 Wildfire 1/10 Low
  • 🌡 Heat 10/10 Extreme 6 d/yr ≥105°F today · 18 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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income
$18,038
− Mortgage interest
−$11,147
− Property taxes
−$2,985
− Insurance
−$995
− Repairs & maintenance
−$1,443
− Management
−$1,443
− Depreciation
−$5,789
Taxable loss
−$5,764
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$1,383
After-tax cash flow
$-869/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 80/100 None rehab

This well-maintained townhome is move-in ready with a good condition score and potential for further value enhancement through minor updates.

Value-add opportunities

  • Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
  • Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value.
  • Both Adding smart home features — Smart home features can increase property value and attract tech-savvy buyers/tenants.
  • Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers/tenants.
F Composite school gradezoned avg 41/100

Zoned Schools

Elementary Northside Elementary School D- FL #1,191/2,144 Nat'l #14,504/41,679 Middle Jinks Middle School F FL #348/571 Nat'l #5,602/14,009 High Bay High School F FL #367/667 Nat'l #9,497/17,239

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 72/100

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 · 206,264 people
City population
91,445
Metro
Panama City, FL
Population (ZIP)
18,947
Household income
$52,523
Rent vs Own
39.7% rent · 60.3% own
Severe rent burden
18% of renters

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
Diverse neighborhood (Simpson 0.57)
Race & ethnicity
White 60% Black 23% Hispanic / Latino 11% Two or more races 8% Asian 2%
Hispanic origin (detail)
Mexican 5% Puerto Rican 2%
Common ancestry
Italian 2% Lithuanian 2% Slovak 2%
Foreign-born
9% · Canada, Vietnam
Languages at home
89% English-only · Spanish 8% Other Indo-European 1% German/W. Germanic 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

Price history

-2.4% since first listed
2 events — show timeline
  • 2026-05-22 Price Changed $204,000 CPARMLS
  • 2026-05-02 Listed $209,000 CPARMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…