4932 E Highway 98 · Parker, FL 32404

$169,000

3 bd · 1.0 ba · 1,043 sqft · SingleFamily public records · 3 Days on market

Built 1935 0.30 ac lot Est $198k · 15% under

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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 +20.5/30.0
• ARV discount +14.1/15.0
• DSCR +6.5/10.0
• 1% rule +4.5/10.0
• 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

Rare find! Affordable and completely updated! The home features all new flooring, painting, cabinets and appliances. There are three bedrooms and two full baths and an interior laundry room. Covered front and back porches. Large yard. Hurry before it is gone! (All important details should be verified by the appropriate specialist)

Key facts

• Covered front porch
• New flooring
• New cabinets

Tags

• NEW FLOORING
• NEW PAINTING
• NEW CABINETS
• NEW APPLIANCES
• INTERIOR LAUNDRY ROOM
• COVERED FRONT PORCH

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Utilities: Electricity available; Public sewer
• Home design: Single-family residence zoning (Resid Single Family)
• Construction: Vinyl siding exterior; Metal roof
• Exterior features: Covered porch; Paved lot; City street frontage; Public maintained road

Interior

• Kitchen: Electric range
• Bedrooms: Bedroom (First level) — 11.6 x 9.4; Bedroom (First level) — 11.5 x 9.5; Primary bedroom (First level) — 11.7 x 9.9
• Flooring: Luxury vinyl plank
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air
• Interior features: Luxury vinyl plank flooring; Ceiling fan(s)
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $169k.

Deal economics

• At list price, monthly cash flow is $223 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (4.9% below list).
• Recommended offer: $161k (4.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 63/100 on livability (#704 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, 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; 21 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 $1k of loan paydown is wiped out by about $5k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 20y 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: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $160,687 (4.9% below list)

Questions for the listing agent

1. Built in 1935 — 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 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?
4. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $198,170
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5118 Lake Dr	0.30mi	3/1.0	1,140 (+9%)	16mo	$217,000	$190	58
626 N 9th Plz Plz	0.39mi	3/2.0	1,154 (+11%)	16mo	$220,500	$191	46
4837 S Lakewood Dr	0.61mi	2/1.5 (-1)	1,116 (+7%)	15mo	$166,000	$149	41

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 · 1.12% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-16,206
• Equity at exit: $25,198

10-year hold

• IRR: -2.7%
• Equity multiple: 0.84×
• Total profit: $-7,805
• Equity at exit: $14,612

Cash invested: $47,320 (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: 8.8×

Monthly cashflow live

• Estimated rent: $1,607 high
• Mortgage (P&I): −$886
• Tax from tax record: −$90 /mo · $1,075/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $223

Break-even live

Break-even rent $1,324

Max offer price $169,000

Occupancy floor 81%

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4828 Grimes St #3 Panama City, FL	2.0	1.0	850	$1,150	$1.35	21d	1	0.40mi
543 N 9th St Unit 543 Panama City, FL	2.0	1.0	850	$1,195	$1.41	13d	1	0.40mi
4837 S Lakewood Dr Panama City, FL	2.0	1.5	1116	$1,500	$1.34	21d	1	0.60mi
509 Phillips Ct Panama City, FL	3.0	2.0	1411	$1,700	$1.20	13d	1	0.60mi
4480 East Highway 98 Unit 1 Panama City, FL	2.0	1.5	972	$1,250	$1.29	21d	1	0.65mi
4480 E Highway 98 Panama City, FL	2.0	1.0	972	$1,250	$1.29	21d	1	0.65mi
1128 S Gay Ave Lot N Panama City, FL	3.0	2.0	924	$40,000	$43.29	21d	1	0.81mi
1128 S Gay Ave Lot 56 Panama City, FL	3.0	1.5	1216	$35,000	$28.78	21d	1	0.81mi
1128 S Gay Ave Lot V Panama City, FL	3.0	2.0	1152	$30,000	$26.04	21d	1	0.81mi
1128 S Gay Ave Lot 86 Panama City, FL	3.0	2.0	1216	$94,995	$78.12	21d	1	0.81mi
5813 Hickory St Panama City, FL	3.0	2.0	1200	$1,950	$1.62	21d	1	0.91mi
322 S Burkett Dr Panama City, FL	1.0–2.0	1.0–2.0	600	$1,519	$2.53	13d	13	0.91mi
129 Seneca Ave Panama City, FL	3.0	2.0	1449	$1,495	$1.03	13d	1	1.12mi
149 North Highway 22 A Unit 5 Panama City, FL	2.0	1.0	900	$1,140	$1.27	13d	1	1.14mi
5805 Cherry St Panama City, FL	2.0	1.0	1025	$1,200	$1.17	13d	1	1.25mi
208 North Highway 22 A Unit 33 Panama City, FL	3.0	2.0	1080	$1,350	$1.25	21d	1	1.30mi
114 S Kimbrel Ave Panama City, FL	3.0	2.0	1400	$1,850	$1.32	21d	1	1.35mi
6600 Oakshore Dr Panama City, FL	1.0–3.0	1.0–2.0	1002	$2,325	$2.32	13d	57	1.39mi
5101 Willow St Panama City, FL	3.0	2.0	1099	$1,500	$1.36	13d	1	1.43mi
6328 Olokee St Panama City, FL	3.0	2.0	1131	$1,850	$1.64	13d	1	1.44mi
4905 Alameda St Unit 1 Panama City, FL	3.0	2.0	942	$1,295	$1.37	21d	1	1.46mi

Listing history 6 events

1. 2026-05-08
   status Pending
2. 2026-05-04
   listed $169,000 Active
3. 2021-12-09
   historical
4. 2021-12-09
   historical
5. 2010-01-14
   listed $75,000
6. 2006-11-21
   listed $139,000

ⓘ 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: $1,075 · $90/mo
• Projected year-2 tax: $1,403 · $117/mo
• Expected delta: +$328/yr (+$27/mo · 30.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 7% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $19,282
• − Mortgage interest: −$9,467
• − Property taxes: −$1,075
• − Insurance: −$845
• − Repairs & maintenance: −$1,543
• − Management: −$1,543
• − Depreciation: −$4,916
• Taxable loss: −$106
• Est. tax savings @ 24.0%: +$25
• After-tax cash flow: $2,703/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 — Parker

• Score: 63/100
• State rank: #704
• US rank: #14956

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parker, 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

+21.6% since first listed

6 events — show timeline

• 2026-05-08 Pending — CPARMLS
• 2026-05-04 Listed $169,000 CPARMLS
• 2021-12-09 Listing Removed — CPARMLS
• 2021-12-09 Listing Removed — CPARMLS
• 2010-01-14 Listed $75,000 CPARMLS
• 2006-11-21 Listed $139,000 CPARMLS

Property tax history

+4.4%/yr

Latest (2025): $1,075 · +9.4% YoY. Source: county tax records.