1008 Cypress Ave · Panama City, FL 32401

$74,950

2 bd · 1.0 ba · 1,798 sqft · SingleFamily public records · 28 Days on market

Built 1960 5,576 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Investor special in the heart of Panama City! This 2 bedroom, 1 bathroom single-family home offers a prime opportunity for renovation, rental income, or resale. Situated on a quiet street, the property features a functional layout with solid bones and plenty of potential to customize. Ideal for investors or buyers looking to create their own space, this home is being sold as-is and is ready for updates. With the right vision, this fixer-upper could be transformed into a charming primary residence or income-producing property. Conveniently located near downtown, shopping, dining, schools, and local amenities, this property offers both value and upside

Key facts

• Functional layout
• 5,576 sq ft lot
• Built 1960

Tags

• FUNCTIONAL LAYOUT

Property features AI

Finance

• Financial info: Unfurnished
• HOA & community: No HOA association indicated

Exterior

• Parking: No carport spaces
• Utilities: Public water; Public sewer; Other utilities
• Home design: Single family residence; One story; Faces west
• Construction: Concrete and stucco construction; Metal roof; Slab foundation; Built on a 0.13-acre lot
• Exterior features: Other exterior features; Concrete road access

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Cork flooring; Tile flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Fireplace in the living room; Other interior features
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $856 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.0% vs local median 4.7% in Panama City — 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 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 flat; 258 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
• This rent runs 41% 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 $518 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.5% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,825 (1.5% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 2.39% ✓
• Cap rate: 20.00%
• Cash-on-cash: 48.94%
• DSCR: 3.18
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $276,892
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1008 Cypress Ave	0.00mi	2/1.0	1,798 (0%)	1mo	$54,000	$30	99
1301 E 8th St	0.28mi	3/2.0 (+1)	1,846 (+3%)	3mo	$357,000	$193	71
810 Maple Ave	0.50mi	3/2.0 (+1)	1,552 (-14%)	10mo	$200,000	$129	36
911 E 7th St	0.48mi	3/2.0 (+1)	1,620 (-10%)	23mo	$250,000	$154	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 · 0.45% rent growth · sell at horizon

5-year hold

• IRR: 43.5%
• Equity multiple: 2.81×
• Total profit: $37,936
• Equity at exit: $11,175

10-year hold

• IRR: 48.4%
• Equity multiple: 5.10×
• Total profit: $85,952
• Equity at exit: $6,480

Cash invested: $20,986 (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 32401

• Home prices YoY: -32.9%
• Rents YoY: 0.5%
• Active inventory: 258
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,793 high
• Mortgage (P&I): −$393
• Tax from tax record: −$136 /mo · $1,638/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $856

Break-even live

Break-even rent $710

Max offer price $74,950

Occupancy floor 47%

Sensitivity live

Price	-10% $898	-5% $877	+0% $856	+5% $835	+10% $813
Rent	-10% $714	-5% $785	+0% $856	+5% $927	+10% $998
Rate	-1.0pp $894	-0.5pp $875	base $856	+0.5pp $837	+1.0pp $817

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: $18,738
• Closing costs: $2,248
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
329 N Palo Alto Ave Panama City, FL	3.0	2.0	1300	$1,950	$1.50	14d	1	1.00mi
2623 E 16th St Unit A Panama City, FL	3.0	2.0	1250	$1,625	$1.30	22d	1	1.21mi
2002 Wilson Ave Panama City, FL	1.0–3.0	1.0–2.0	977	$1,854	$1.90	14d	25	1.38mi
1525 Oak Ave Panama City, FL	3.0	1.5	1280	$2,200	$1.72	22d	1	1.41mi
222 N Gray Ave Panama City, FL	3.0	2.0	1953	$1,650	$0.84	22d	1	1.50mi

Listing history 4 events

1. 2026-05-01
   status Pending
2. 2026-04-03
   listed $74,950 Active
3. 2025-05-19
   historical
4. 2025-05-08
   listed $5,000 New

ⓘ 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: $1,638 · $136/mo
• Projected year-2 tax: $1,638 · $136/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 1/10 Low
• 🌡 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 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,519
• − Mortgage interest: −$4,198
• − Property taxes: −$1,638
• − Insurance: −$375
• − Repairs & maintenance: −$1,722
• − Management: −$1,722
• − Depreciation: −$2,180
• Taxable income: $9,685
• Est. tax owed @ 24.0%: −$2,324
• After-tax cash flow: $7,947/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): 18,947
• Household income: $52,523
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 935.0

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: 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: —

Market trends

• HPI YoY: ▼ -142.12%
• Current HPI: 290.3312
• Rent YoY: ▲ 0.45%
• 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

+1399.0% since first listed

4 events — show timeline

• 2026-05-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-03 Listed $74,950 Stellar MLS as Distributed by MLS Grid
• 2025-05-19 Listing Removed — GAMLS
• 2025-05-08 Listed $5,000 GAMLS

Property tax history

+13.2%/yr

Latest (2025): $1,638 · +7.0% YoY. Source: county tax records.