6240 Bryan Way · Callaway, FL 32404

$115,000

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 38 Days on market

Built 1999 0.26 ac lot $76/sqft · 29% below area Est $163k · 29% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BRING ALL OFFERS! Perfect opportunity for DIYers, investors, or first-time homebuyers looking to build instant equity! This spacious 3-bedroom, 2-bath mobile home is tucked away at the end of the street and backs up to a wooded area, offering extra privacy and a peaceful setting. With a little TLC and new flooring throughout, this home has incredible potential to shine. Enjoy outdoor living with two oversized decks, including a covered 10x16 front deck that's perfect for relaxing with your morning coffee or entertaining guests. The chain-link fenced backyard is ideal for pets, kids, or extra outdoor enjoyment. Inside, the spacious living room features sliding glass doors leading to the back

Key facts

• Two oversized decks
• Sliding glass doors
• Covered front deck

Tags

• TWO OVERSIZED DECKS
• COVERED FRONT DECK
• CHAIN-LINK FENCED BACKYARD
• SLIDING GLASS DOORS
• HUGE KITCHEN
• BREAKFAST BAR

Property features AI

Exterior

• Utilities: Electricity available; Sewer available
• Home design: Double wide mobile home; Zoned for mobile homes
• Construction: Vinyl siding; Composition/shingle roof
• Exterior features: Covered and open porch; Porch; Shed(s); Located on a paved cul-de-sac

Interior

• Kitchen: Electric oven; Electric range
• Bedrooms: Two additional bedrooms on the first level; Primary bedroom on the first level
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans
• Interior features: Total of 6 rooms; Dining room; Living room; Primary bedroom
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $491 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.7% vs local median 5.1% in Callaway — 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 64/100 on livability (#690 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, amenities 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 (+1.1%/yr); 969 active listings in the ZIP; 20 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 $795 of loan paydown is wiped out by about $3k 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 + 1.1% rent growth), your $32k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 20y ago; this cycle's ask has dropped $35k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.58% ✓
• Cap rate: 12.72%
• Cash-on-cash: 22.96%
• DSCR: 2.02
• GRM: 5.3

CMA / ARV

• ARV (median comp): $163,097
• List price: $115,000
• Delta: -29.49%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.12% rent growth · sell at horizon

5-year hold

• IRR: 7.6%
• Equity multiple: 1.29×
• Total profit: $9,379
• Equity at exit: $17,147

10-year hold

• IRR: 15.1%
• Equity multiple: 2.11×
• Total profit: $35,590
• Equity at exit: $9,943

Cash invested: $32,200 (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 32404

• Home prices YoY: -16.1%
• Rents YoY: 1.1%
• Active inventory: 969
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,815 high
• Mortgage (P&I): −$603
• Tax from tax record: −$167 /mo · $2,004/yr
• Insurance: −$48
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $491

Break-even live

Break-even rent $1,194

Max offer price $115,000

Occupancy floor 68%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6121 Harvey St Unit 8 Panama City, FL	2.0	1.5	1200	$1,050	$0.88	21d	1	0.41mi
5817 Jasmine Ct Panama City, FL	4.0	2.5	1633	$2,000	$1.22	13d	1	0.42mi
6101 Harvey St #3 Panama City, FL	2.0	1.5	1108	$1,050	$0.95	21d	1	0.43mi
229 Callaway Chase Ln Panama City, FL	3.0	2.5	1200	$1,650	$1.38	13d	1	0.51mi
420 Raven Ln Panama City, FL	3.0	2.0	1251	$1,750	$1.40	21d	1	0.53mi
163 Lauren Ln Panama City, FL	4.0	2.0	1731	$2,300	$1.33	21d	1	0.63mi
175 N Berthe Ave Panama City, FL	4.0	2.0	1498	$2,195	$1.47	13d	1	0.69mi
526 Camellia Ave Panama City, FL	3.0	2.0	1375	$1,950	$1.42	21d	1	0.72mi
116 Christie Ln Panama City, FL	3.0	2.0	1092	$1,550	$1.42	21d	1	0.76mi
114 S Kimbrel Ave Panama City, FL	3.0	2.0	1400	$1,850	$1.32	21d	1	0.91mi
6328 Olokee St Panama City, FL	3.0	2.0	1131	$1,850	$1.64	13d	1	1.01mi
5101 Willow St Panama City, FL	3.0	2.0	1099	$1,500	$1.36	13d	1	1.08mi
263 Nelle Ave Panama City, FL	3.0	2.0	1294	$1,690	$1.31	21d	1	1.09mi
129 Seneca Ave Panama City, FL	3.0	2.0	1449	$1,495	$1.03	13d	1	1.12mi
208 North Highway 22 A Unit 33 Panama City, FL	3.0	2.0	1080	$1,350	$1.25	21d	1	1.15mi
211 Sukoshi Dr Panama City, FL	3.0	2.0	1512	$1,900	$1.26	21d	1	1.33mi
906 Kevin Ct Panama City, FL	3.0	2.0	1266	$1,795	$1.42	21d	1	1.33mi
5813 Hickory St Panama City, FL	3.0	2.0	1200	$1,950	$1.62	21d	1	1.33mi
4141 E 15th St Panama City, FL	2.0–3.0	2.0	1082	$1,825	$1.69	13d	9	1.37mi
5717 Rebecca Ct Unit B Panama City, FL	2.0	1.0	1612	$1,350	$0.84	21d	1	1.48mi

Listing history 50 events

1. 2026-06-19
   days on market $115,000 Active 38 DOM
2. 2026-06-18
   days on market $115,000 Active 37 DOM
3. 2026-06-17
   days on market $115,000 Active 36 DOM
4. 2026-06-16
   days on market $115,000 Active 35 DOM
5. 2026-06-15
   days on market $115,000 Active 34 DOM
6. 2026-06-14
   days on market $115,000 Active 32 DOM
7. 2026-06-13
   days on market $115,000 Active 31 DOM
8. 2026-06-10
   days on market $115,000 Active 29 DOM
9. 2026-06-09
   days on market $115,000 Active 28 DOM
10. 2026-06-08
    days on market $115,000 Active 27 DOM
11. 2026-06-07
    days on market $115,000 Active 26 DOM
12. 2026-06-05
    pricedays on market $115,000 Active 23 DOM
13. 2026-06-03
    days on market $135,000 Active 22 DOM
14. 2026-06-02
    days on market $135,000 Active 21 DOM
15. 2026-06-01
    days on market $135,000 Active 20 DOM
16. 2026-05-31
    days on market $135,000 Active 19 DOM
17. 2026-05-30
    days on market $135,000 Active 18 DOM
18. 2026-05-18
    price $135,000 1545-char remark
19. 2026-04-30
    listed $150,000 Active 1545-char remark
20. 2026-01-09
    historical
21. 2025-12-17
    historical
22. 2025-11-20
    price $144,990
23. 2025-11-07
    listed $149,000 Active
24. 2024-03-08
    soldstatus $170,000
25. 2024-03-06
    soldstatus $170,000 Closed
26. 2024-01-25
    status Pending
27. 2023-12-12
    listed $175,000 Active
28. 2023-11-30
    historical
29. 2023-09-11
    listed $180,000 Active
30. 2023-07-10
    soldstatus $161,000 Closed
31. 2023-05-11
    historical Active Under Contract
32. 2023-05-02
    price $160,000
33. 2023-04-28
    price $174,000
34. 2023-04-19
    price $179,000
35. 2023-04-04
    price $185,000
36. 2023-03-26
    listed $199,000 Active
37. 2022-03-04
    soldstatus $60,000
38. 2022-03-03
    soldstatus $60,000 Closed
39. 2022-02-25
    status Pending
40. 2021-12-09
    historical
41. 2021-12-09
    historical
42. 2021-11-24
    listed $69,900 Active
43. 2011-12-12
    soldstatus $24,000
44. 2011-08-25
    listed $36,000
45. 2008-02-11
    soldstatus $90,000
46. 2008-02-08
    soldstatus $90,000
47. 2007-07-14
    listed $99,000
48. 2006-09-01
    listed $117,000
49. 2006-03-25
    listed $130,000
50. 1996-07-01
    soldstatus $23,700

ⓘ 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: $2,004 · $167/mo
• Projected year-2 tax: $2,004 · $167/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 6/10 Major FEMA zone A · 68% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°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: $21,783
• − Mortgage interest: −$6,442
• − Property taxes: −$2,004
• − Insurance: −$2,078
• − Repairs & maintenance: −$1,743
• − Management: −$1,743
• − Depreciation: −$3,345
• Taxable income: $4,430
• Est. tax owed @ 24.0%: −$1,063
• After-tax cash flow: $4,828/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 — Callaway

• Score: 64/100
• State rank: #690
• US rank: #14384

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Callaway, FL
• County: Bay County · 163,593 people
• Metro: Panama City, FL
• Population (ZIP): 42,514
• Household income: $74,708
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 1218.0

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 (69%)
• Race & ethnicity: White 69% Black 12% Two or more races 10% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, Vietnam, Mexico
• Languages at home: 90% English-only · Spanish 6% Vietnamese 1% Other Asian/Pacific 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: ▼ -50.59%
• Current HPI: 263.7178
• Rent YoY: ▲ 1.12%
• 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

+400.0% since first listed

35 events — show timeline

• 2026-06-03 Price Changed $115,000 CPARMLS
• 2026-05-18 Price Changed $135,000 CPARMLS
• 2026-04-30 Listed $150,000 CPARMLS
• 2026-01-09 Listing Removed — CPARMLS
• 2025-12-17 Listing Removed — CPARMLS
• 2025-11-20 Price Changed $144,990 CPARMLS
• 2025-11-07 Listed $149,000 CPARMLS
• 2024-03-08 Sold (Public Records) $170,000 Public Records
• 2024-03-06 Sold (MLS) $170,000 CPARMLS
• 2024-01-25 Pending — CPARMLS
• 2023-12-12 Listed $175,000 CPARMLS
• 2023-11-30 Listing Removed — CPARMLS
• 2023-09-11 Listed $180,000 CPARMLS
• 2023-07-10 Sold (MLS) $161,000 CPARMLS
• 2023-05-11 Contingent — CPARMLS
• 2023-05-02 Price Changed $160,000 CPARMLS
• 2023-04-28 Price Changed $174,000 CPARMLS
• 2023-04-19 Price Changed $179,000 CPARMLS
• 2023-04-04 Price Changed $185,000 CPARMLS
• 2023-03-26 Listed $199,000 CPARMLS
• 2022-03-04 Sold (Public Records) $60,000 Public Records
• 2022-03-03 Sold (MLS) $60,000 CPARMLS
• 2022-02-25 Pending — CPARMLS
• 2021-12-09 Listing Removed — CPARMLS
• 2021-12-09 Listing Removed — CPARMLS
• 2021-11-24 Listed $69,900 CPARMLS
• 2011-12-12 Sold (MLS) $24,000 CPARMLS
• 2011-08-25 Listed $36,000 CPARMLS
• 2008-02-11 Sold (Public Records) $90,000 Public Records
• 2008-02-08 Sold (MLS) $90,000 CPARMLS
• 2007-07-14 Listed $99,000 CPARMLS
• 2006-09-01 Listed $117,000 CPARMLS
• 2006-03-25 Listed $130,000 CPARMLS
• 1996-07-01 Sold (Public Records) $23,700 Public Records
• 1995-08-01 Sold (Public Records) $23,000 Public Records

Property tax history

+12.5%/yr

Latest (2025): $2,004 · +12.4% YoY. Source: county tax records.