2506 W 26th St · Pretty Bayou, FL 32405

$315,000

4 bd · 2.0 ba · 2,492 sqft · SingleFamily public records · 138 Days on market

Built 1963 0.32 ac lot $126/sqft · 32% below area Est $467k · 32% under

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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 +15.0/15.0
• Cash flow +8.0/30.0
• Schools +4.3/10.0
• Livability +3.7/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Seller Offering $10,000 Cash for Closing and Concession. Welcome to a spacious 4-bedroom home in the heart of Panama City, offering over 2,400 square feet of living space on a generous 0.32-acre lot. Located in Island View Estates and directly across the street from a community park, this property combines an incredible location with strong investment potential. Whether you're searching for a home to update to your taste or looking for your next rental/flip opportunity, this one offers exceptional space and value. Inside, you'll find a large living room filled with natural light, a dedicated dining area, and a bright kitchen with ample cabinet storage. The adjoining Florida Room creates additional flexible space for casual lounging, hobbies, or play. The primary bedroom features a walk-in closet and an en-suite bath with double vanities and a step-in shower, while three additional bedrooms and a separate office provide room for work, guests, or multigenerational needs. The fully fenced backyard includes a detached shed for storage, plus plenty of room for a garden, outdoor seating, or future improvements. An oversized driveway accommodates multiple vehicles, RV parking, or a boat ideal for enjoying the nearby public boat ramps that take you straight into North Bay. This home is just 1 mile from University Academy and The Shops at SweetBay, placing restaurants, walking trails, waterfront views, and community events within minutes. Schools, health care, and major roadways are also close by, offering everyday convenience. With solid structure, generous square footage, and a location that's hard to beat, this property is ready for its next chapter. A great opportunity for investors or buyers looking to update a home to fit their own style schedule your showing today.

Key facts

• Walk-in closet
• Florida room
• En-suite bath

Tags

• FLORIDA ROOM
• WALK-IN CLOSET
• EN-SUITE BATH
• DOUBLE VANITIES
• STEP-IN SHOWER
• DETACHED SHED

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $-321 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (18.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $226k (28.4% below list).
• Recommended offer: $226k (28.4% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 1.3% in Pretty Bayou — 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 74/100 on livability (#293 in FL, #4,953 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A-; Watch: schools 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.
• Market conditions: Rents rising (+1.2%/yr); 382 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
• This rent runs 37% of the median local income ($73k/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 $2k of loan paydown is wiped out by about $9k 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 138 days — a 12% lower offer ($277k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $30k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $265k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $225,592 (28.4% 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 138 days. Have you received any prior offers? Is the seller open to a 28% concession, seller financing, or rate buy-down credit?
3. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 0.72% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.37%
• DSCR: 0.81
• GRM: 11.6

CMA / ARV

• ARV (median comp): $466,604
• List price: $315,000
• Delta: -32.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2661 Island View Dr	0.07mi	3/2.0 (-1)	2,320 (-7%)	4mo	$550,000	$237	77
2212 St Andrews Blvd	0.26mi	3/2.0 (-1)	2,602 (+4%)	4mo	$430,000	$165	72
2902 Kingswood Dr	0.31mi	3/2.0 (-1)	2,623 (+5%)	3mo	$735,000	$280	69
2844 Longleaf Rd	0.38mi	4/2.0	2,686 (+8%)	1mo	$550,000	$205	68
2803 Longleaf Rd	0.18mi	4/3.0	2,223 (-11%)	5mo	$520,000	$234	66
2531 Frankford Ave	0.30mi	3/2.0 (-1)	2,241 (-10%)	2mo	$295,000	$132	62
3123 Kings Dr	0.52mi	4/3.0	2,368 (-5%)	2mo	$600,000	$253	61
2022 Tupelo Ct	0.42mi	4/3.0	2,727 (+9%)	6mo	$445,000	$163	56
3307 Kings Rd	0.68mi	4/2.5	2,657 (+7%)	6mo	$391,983	$148	50
2963 Frankford Ave	0.60mi	4/3.0	2,230 (-10%)	2mo	$440,000	$197	49
143 Queens Cir	0.73mi	4/2.0	2,225 (-11%)	6mo	$432,000	$194	43
2446 Pretty Bayou Blvd	0.51mi	3/3.0 (-1)	2,840 (+14%)	4mo	$845,000	$298	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 · 1.24% rent growth · sell at horizon

5-year hold

• IRR: -25.6%
• Equity multiple: 0.14×
• Total profit: $-75,424
• Equity at exit: $46,968

10-year hold

• IRR: -28.3%
• Equity multiple: -0.22×
• Total profit: $-107,597
• Equity at exit: $27,235

Cash invested: $88,200 (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 32405

• Rents YoY: 1.2%
• Active inventory: 382
• Price-to-rent: 11.6×

Monthly cashflow live

• Estimated rent: $2,256 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$320 /mo · $3,840/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $-321

Break-even live

Break-even rent $2,662

Max offer price $258,300

Occupancy floor —

Sensitivity live

Price	-10% $-143	-5% $-232	+0% $-321	+5% $-410	+10% $-499
Rent	-10% $-499	-5% $-410	+0% $-321	+5% $-232	+10% $-143
Rate	-1.0pp $-162	-0.5pp $-241	base $-321	+0.5pp $-403	+1.0pp $-486

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1117 Blazing Star St Panama City, FL	3.0	2.0	1800	$2,500	$1.39	22d	1	1.29mi

Listing history 25 events

1. 2026-06-21
   days on market $315,000 Active 138 DOM
2. 2026-06-19
   days on market $315,000 Active 136 DOM
3. 2026-06-18
   days on market $315,000 Active 135 DOM
4. 2026-06-17
   days on market $315,000 Active 134 DOM
5. 2026-06-16
   days on market $315,000 Active 133 DOM
6. 2026-06-15
   days on market $315,000 Active 132 DOM
7. 2026-06-14
   days on market $315,000 Active 130 DOM
8. 2026-06-13
   days on market $315,000 Active 129 DOM
9. 2026-06-10
   days on market $315,000 Active 127 DOM
10. 2026-06-09
    days on market $315,000 Active 126 DOM
11. 2026-06-08
    days on market $315,000 Active 125 DOM
12. 2026-06-07
    days on market $315,000 Active 124 DOM
13. 2026-06-05
    days on market $315,000 Active 121 DOM
14. 2026-06-03
    days on market $315,000 Active 120 DOM
15. 2026-06-02
    days on market $315,000 Active 119 DOM
16. 2026-06-01
    days on market $315,000 Active 118 DOM
17. 2026-05-31
    days on market $315,000 Active 117 DOM
18. 2026-05-30
    days on market $315,000 Active 116 DOM
19. 2026-04-09
    price $315,000 1794-char remark

    Show marketing remark (2098 chars)

    Seller Offering $10,000 Cash for Closing and Concession. Welcome to this spacious 4-bedroom home in the heart of Panama City, offering over 2,400 square feet of living space on a generous 0.32-acre lot. Located in Island View Estates and directly across from a community park, this property pairs an excellent location with strong investment and lifestyle potential. Whether you're looking to customize a home to your taste or secure your next rental or flip opportunity, the space and versatility here truly stand out. Inside, the home features a large, light-filled living room, a dedicated dining area, and a bright kitchen with abundant cabinetry. The adjoining Florida Room adds valuable flexible space--perfect for casual entertaining, a playroom, or hobbies. The primary suite includes a walk-in closet and an en-suite bath with double vanities and a step-in shower. Three additional bedrooms plus a separate office provide plenty of room for guests, remote work, or multigenerational living. Out back, the fully fenced yard offers even more opportunity. In addition to a detached storage shed, there is a separate building located at the rear of the property with plumbing and electrical already installed, making it ideal for a potential guest suite, home office, workshop, studio, or future income-producing space (buyer to verify permitted use). The yard also provides ample room for gardening, outdoor seating, or future enhancements. An oversized driveway allows for multiple vehicles, RV parking, or boat storage--perfect for taking advantage of nearby public boat ramps with direct access to North Bay. Conveniently located just one mile from University Academy and The Shops at SweetBay, this home offers easy access to dining, shopping, walking trails, waterfront views, and community events, with schools, healthcare, and major roadways close by. With solid bones, generous square footage, and an unbeatable location, this property is ready for its next chapter. An excellent opportunity for investors or buyers seeking space, flexibility, and value--schedule your showing today.

20. 2026-04-09
    price $315,000 2098-char remark

    Show marketing remark (2098 chars)

    Seller Offering $10,000 Cash for Closing and Concession. Welcome to this spacious 4-bedroom home in the heart of Panama City, offering over 2,400 square feet of living space on a generous 0.32-acre lot. Located in Island View Estates and directly across from a community park, this property pairs an excellent location with strong investment and lifestyle potential. Whether you're looking to customize a home to your taste or secure your next rental or flip opportunity, the space and versatility here truly stand out. Inside, the home features a large, light-filled living room, a dedicated dining area, and a bright kitchen with abundant cabinetry. The adjoining Florida Room adds valuable flexible space--perfect for casual entertaining, a playroom, or hobbies. The primary suite includes a walk-in closet and an en-suite bath with double vanities and a step-in shower. Three additional bedrooms plus a separate office provide plenty of room for guests, remote work, or multigenerational living. Out back, the fully fenced yard offers even more opportunity. In addition to a detached storage shed, there is a separate building located at the rear of the property with plumbing and electrical already installed, making it ideal for a potential guest suite, home office, workshop, studio, or future income-producing space (buyer to verify permitted use). The yard also provides ample room for gardening, outdoor seating, or future enhancements. An oversized driveway allows for multiple vehicles, RV parking, or boat storage--perfect for taking advantage of nearby public boat ramps with direct access to North Bay. Conveniently located just one mile from University Academy and The Shops at SweetBay, this home offers easy access to dining, shopping, walking trails, waterfront views, and community events, with schools, healthcare, and major roadways close by. With solid bones, generous square footage, and an unbeatable location, this property is ready for its next chapter. An excellent opportunity for investors or buyers seeking space, flexibility, and value--schedule your showing today.

21. 2026-02-03
    listed $345,000 Active 1794-char remark

    Show marketing remark (1794 chars)

    Seller Offering $10,000 Cash for Closing and Concession. Welcome to a spacious 4-bedroom home in the heart of Panama City, offering over 2,400 square feet of living space on a generous 0.32-acre lot. Located in Island View Estates and directly across the street from a community park, this property combines an incredible location with strong investment potential. Whether you're searching for a home to update to your taste or looking for your next rental/flip opportunity, this one offers exceptional space and value. Inside, you'll find a large living room filled with natural light, a dedicated dining area, and a bright kitchen with ample cabinet storage. The adjoining Florida Room creates additional flexible space for casual lounging, hobbies, or play. The primary bedroom features a walk-in closet and an en-suite bath with double vanities and a step-in shower, while three additional bedrooms and a separate office provide room for work, guests, or multigenerational needs. The fully fenced backyard includes a detached shed for storage, plus plenty of room for a garden, outdoor seating, or future improvements. An oversized driveway accommodates multiple vehicles, RV parking, or a boat ideal for enjoying the nearby public boat ramps that take you straight into North Bay. This home is just 1 mile from University Academy and The Shops at SweetBay, placing restaurants, walking trails, waterfront views, and community events within minutes. Schools, health care, and major roadways are also close by, offering everyday convenience. With solid structure, generous square footage, and a location that's hard to beat, this property is ready for its next chapter. A great opportunity for investors or buyers looking to update a home to fit their own style schedule your showing today.

22. 2025-11-15
    listed $345,000 Active 2098-char remark

    Show marketing remark (2098 chars)

    Seller Offering $10,000 Cash for Closing and Concession. Welcome to this spacious 4-bedroom home in the heart of Panama City, offering over 2,400 square feet of living space on a generous 0.32-acre lot. Located in Island View Estates and directly across from a community park, this property pairs an excellent location with strong investment and lifestyle potential. Whether you're looking to customize a home to your taste or secure your next rental or flip opportunity, the space and versatility here truly stand out. Inside, the home features a large, light-filled living room, a dedicated dining area, and a bright kitchen with abundant cabinetry. The adjoining Florida Room adds valuable flexible space--perfect for casual entertaining, a playroom, or hobbies. The primary suite includes a walk-in closet and an en-suite bath with double vanities and a step-in shower. Three additional bedrooms plus a separate office provide plenty of room for guests, remote work, or multigenerational living. Out back, the fully fenced yard offers even more opportunity. In addition to a detached storage shed, there is a separate building located at the rear of the property with plumbing and electrical already installed, making it ideal for a potential guest suite, home office, workshop, studio, or future income-producing space (buyer to verify permitted use). The yard also provides ample room for gardening, outdoor seating, or future enhancements. An oversized driveway allows for multiple vehicles, RV parking, or boat storage--perfect for taking advantage of nearby public boat ramps with direct access to North Bay. Conveniently located just one mile from University Academy and The Shops at SweetBay, this home offers easy access to dining, shopping, walking trails, waterfront views, and community events, with schools, healthcare, and major roadways close by. With solid bones, generous square footage, and an unbeatable location, this property is ready for its next chapter. An excellent opportunity for investors or buyers seeking space, flexibility, and value--schedule your showing today.

23. 2021-11-12
    soldstatus $265,000
24. 2021-11-12
    soldstatus $265,000
25. 2021-08-04
    listed $289,000

ⓘ 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: $3,840 · $320/mo
• Projected year-2 tax: $3,840 · $320/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $27,071
• − Mortgage interest: −$17,645
• − Property taxes: −$3,840
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,166
• − Management: −$2,166
• − Depreciation: −$9,164
• Taxable loss: −$9,484
• Est. tax savings @ 24.0%: +$2,276
• After-tax cash flow: $-1,575/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 — Pretty Bayou

• Score: 74/100
• State rank: #293
• US rank: #4953

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pretty Bayou, FL
• County: Bay County · 163,593 people
• Metro: Panama City, FL
• Population (ZIP): 29,984
• Household income: $73,373
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1008.0

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 (67%)
• Race & ethnicity: White 67% Black 17% Two or more races 8% Hispanic / Latino 7% Native American 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 4% Lithuanian 2% Romanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 6% Arabic 1% French/Haitian/Cajun 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: ▼ -217.88%
• Current HPI: 262.7854
• Rent YoY: ▲ 1.24%
• 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

+9.0% since first listed

7 events — show timeline

• 2026-04-09 Price Changed $315,000 ECAR
• 2026-04-09 Price Changed $315,000 CPARMLS
• 2026-02-03 Listed $345,000 ECAR
• 2025-11-15 Listed $345,000 CPARMLS
• 2021-11-12 Sold (Public Records) $265,000 Public Records
• 2021-11-12 Sold (MLS) $265,000 CPARMLS
• 2021-08-04 Listed $289,000 CPARMLS

Property tax history

+15.2%/yr

Latest (2025): $3,840 · +8.9% YoY. Source: county tax records.