1730 Mallard Dr Apt F · Callaway, FL 32404

$125,000

2 bd · 2.0 ba · 812 sqft · Townhouse public records · 30 Days on market

Built 1983

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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 +27.5/30.0
• DSCR +9.6/10.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• 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 MLS

TURNKEY INVESTMENT OPPORTUNITY | NO HOA Welcome to this beautifully renovated townhouse offering modern updates, low-maintenance living, and excellent investment potential. Ideal for first-time homebuyers, long-term rentals, or short-term rental opportunities, this move-in-ready property features 2 bedrooms and 1.5 bathrooms with thoughtful upgrades throughout. The interior showcases fresh paint, updated flooring throughout with no carpet, and abundant natural light from newly installed windows. The kitchen has been refreshed with new cabinetry and sinks, creating a clean and functional space for everyday living. Additional improvements include renovated attic space with updated plumbing, along with new wood flooring and railing at the rear of the home, enhancing both style and functionality. With no HOA fees, this property offers flexibility, convenience, and exceptional value. Conveniently located and thoughtfully updated, this is an opportunity you do not want to miss. Schedule your private showing today. All measurements are approximate and should be verified by buyer. Furniture does not convey.

Key facts

• Renovated townhouse
• Modern updates
• Move in ready

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• NO HOA
• RENOVATED TOWNHOUSE
• MODERN UPDATES
• LOW MAINTENANCE LIVING
• MOVE IN READY

Property features AI

Finance

• Financial info: $1,060.96 annual tax (2025)
• HOA & community: No recorded subdivision

Exterior

• Utilities: Electric service; Public water; Public sewer; TV cable
• Home design: Townhome style; 2 stories; Built in 1983
• Construction: 812 total building area (per county records)
• Exterior features: No pool; Zoned residential (single family)

Interior

• Kitchen: Kitchen on the first floor
• Bedrooms: 2 bedrooms total; Primary bedroom located on the second floor; Additional bedroom located on the second floor
• Bathrooms: 2 total bathrooms (1 full, 1 half)
• Heating & cooling: Central air conditioning; Ceiling fans
• Interior features: Living room located on the first floor; Kitchen located on the first floor; Two-story layout

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $125k.

Deal economics

• At list price, monthly cash flow is $369 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $123k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.8% 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+, 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: Callaway Elementary School (math 37% / reading 42%, grade F, #1,513 of 2,144 statewide, top 73%, 511 students, 72% FRL); Rutherford High School (math 24% / reading 29%, grade F, #489 of 667 statewide, top 74%, 1,337 students, 63% FRL) — zoned schools average 68% FRL vs 48% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 33% at this address vs 51% district-wide (-18 pts) — the specific schools serving this property underperform the Bay average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.1%/yr); 981 active listings in the ZIP; 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 $864 of loan paydown is wiped out by about $4k 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 30 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 2y 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.
• Current owner paid $31k; list at $125k implies a 303% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $123,125 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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.
4. 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.
5. 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: 1.18% ✓
• Cap rate: 9.84%
• Cash-on-cash: 12.65%
• DSCR: 1.56
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 0.4%
• Equity multiple: 1.01×
• Total profit: $495
• Equity at exit: $18,638

10-year hold

• IRR: 8.1%
• Equity multiple: 1.57×
• Total profit: $19,801
• Equity at exit: $10,808

Cash invested: $35,000 (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: 981
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,475 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$88 /mo · $1,061/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $369

Break-even live

Break-even rent $1,008

Max offer price $125,000

Occupancy floor 70%

Sensitivity live

Price	-10% $440	-5% $404	+0% $369	+5% $334	+10% $298
Rent	-10% $253	-5% $311	+0% $369	+5% $427	+10% $486
Rate	-1.0pp $432	-0.5pp $401	base $369	+0.5pp $337	+1.0pp $304

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 36 events

1. 2026-06-21
   days on market $125,000 Active 30 DOM
2. 2026-06-19
   days on market $125,000 Active 28 DOM
3. 2026-06-18
   days on market $125,000 Active 27 DOM
4. 2026-06-17
   days on market $125,000 Active 26 DOM
5. 2026-06-16
   days on market $125,000 Active 25 DOM
6. 2026-06-15
   days on market $125,000 Active 24 DOM
7. 2026-06-14
   days on market $125,000 Active 22 DOM
8. 2026-06-13
   days on market $125,000 Active 21 DOM
9. 2026-06-10
   days on market $125,000 Active 19 DOM
10. 2026-06-09
    days on market $125,000 Active 18 DOM
11. 2026-06-08
    days on market $125,000 Active 17 DOM
12. 2026-06-07
    days on market $125,000 Active 16 DOM
13. 2026-06-05
    days on market $125,000 Active 13 DOM
14. 2026-06-03
    days on market $125,000 Active 12 DOM
15. 2026-06-02
    days on market $125,000 Active 11 DOM
16. 2026-06-01
    days on market $125,000 Active 10 DOM
17. 2026-05-31
    days on market $125,000 Active 9 DOM
18. 2026-05-30
    days on market $125,000 Active 8 DOM
19. 2026-05-22
    listed $125,000 Active
20. 2026-04-21
    historical
21. 2025-12-09
    status Active
22. 2025-11-30
    historical
23. 2025-07-23
    status Active
24. 2025-07-23
    status Active
25. 2025-07-01
    historical Active Under Contract
26. 2025-07-01
    status Pending
27. 2025-01-13
    listed $125,000 Active
28. 2025-01-13
    listed $125,000 Active
29. 2024-12-09
    historical
30. 2024-07-01
    status Active
31. 2024-07-01
    status Active
32. 2024-06-26
    status Pending
33. 2024-06-26
    historical Active Under Contract
34. 2024-06-07
    listed $130,000 Active
35. 2024-06-07
    listed $130,000 Active
36. 1997-06-01
    soldstatus $31,000

ⓘ 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: $1,061 · $88/mo
• Projected year-2 tax: $1,061 · $88/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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $17,698
• − Mortgage interest: −$7,002
• − Property taxes: −$1,061
• − Insurance: −$625
• − Repairs & maintenance: −$1,416
• − Management: −$1,416
• − Depreciation: −$3,636
• Taxable income: $2,542
• Est. tax owed @ 24.0%: −$610
• After-tax cash flow: $3,819/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

• 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

+303.2% since first listed

19 events — show timeline

• 2026-06-04 Listed $125,000 CPARMLS
• 2026-05-22 Listed $125,000 ECAR
• 2026-04-21 Listing Removed — CPARMLS
• 2025-12-09 Relisted — CPARMLS
• 2025-11-30 Listing Removed — CPARMLS
• 2025-07-23 Relisted — CPARMLS
• 2025-07-23 Relisted — ECAR
• 2025-07-01 Contingent — CPARMLS
• 2025-07-01 Pending — ECAR
• 2025-01-13 Listed $125,000 ECAR
• 2025-01-13 Listed $125,000 CPARMLS
• 2024-12-09 Listing Removed — CPARMLS
• 2024-07-01 Relisted — ECAR
• 2024-07-01 Relisted — CPARMLS
• 2024-06-26 Pending — ECAR
• 2024-06-26 Contingent — CPARMLS
• 2024-06-07 Listed $130,000 ECAR
• 2024-06-07 Listed $130,000 CPARMLS
• 1997-06-01 Sold (Public Records) $31,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $1,061 · +7.9% YoY. Source: county tax records.