517 S Highway 22 A · Parker, FL 32404

$139,900

2 bd · 2.0 ba · 1,226 sqft · Townhouse public records · 436 Days on market

Built 1985 3,049 sqft lot $114/sqft · 13% above area Est $124k · 13% over

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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 +24.8/30.0
• DSCR +8.0/10.0
• 1% rule +5.7/10.0
• Schools +4.3/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• ARV discount +1.6/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price Reduced!! Spacious townhome with tons of potential. Come view this two bedroom one bath townhome in Parker, close to Tyndall Airforce Base. This neighborhood provides an HOA with community pool and courtyard area which is great for families or just sitting outside relaxing in the green space. The complex is right across the street from Parker Elementary. The townhome features two bedrooms downstairs with bathroom shared between master bedroom and hall. The upstairs loft has closets and could easily be converted into a third bedroom. The spacious great room gives the home an open feel with easy access to kitchen and covered back patio. A/C replaced on 9/21/23. New interior paint, new fixtures, new carpet, new dishwasher and hood vent. This unit is part of a duplex with both sides for sale together or individually. Unit 517 is in need of a few minor cosmetic renovations while unit 519 has already been remodeled. You can purchase one or both sides together.

Key facts

• Green space
• Upstairs loft
• Cosmetic renovations

Tags

• COMMUNITY POOL
• COURTYARD AREA
• GREEN SPACE
• UPSTAIRS LOFT
• COVERED BACK PATIO
• COSMETIC RENOVATIONS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.3% in Parker — 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 63/100 on livability (#704 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, 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: Parker Elementary School (math 24% / reading 32%, grade F, #1,951 of 2,144 statewide, top 91%, 496 students, 74% FRL); Rutherford High School (math 24% / reading 29%, grade F, #489 of 667 statewide, top 74%, 1,337 students, 63% FRL) — zoned schools average 69% FRL vs 48% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 51% district-wide (-24 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); 983 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $967 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 436 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y ago; this cycle's ask is 11092% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $69k; list at $140k implies a 103% 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; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 436 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.07% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.03%
• DSCR: 1.40
• GRM: 7.8

CMA / ARV

• ARV (median comp): $123,720
• List price: $139,900
• Delta: 13.08%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4901 S Lakewood Dr Unit A	0.19mi	3/2.5 (+1)	1,237 (+1%)	12mo	$201,000	$162	73

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: -4.7%
• Equity multiple: 0.83×
• Total profit: $-6,685
• Equity at exit: $20,860

10-year hold

• IRR: 2.8%
• Equity multiple: 1.19×
• Total profit: $7,305
• Equity at exit: $12,096

Cash invested: $39,172 (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: 983
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,492 high
• Mortgage (P&I): −$734
• Tax from tax record: −$92 /mo · $1,099/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $295

Break-even live

Break-even rent $1,118

Max offer price $139,900

Occupancy floor 75%

Sensitivity live

Price	-10% $374	-5% $335	+0% $295	+5% $255	+10% $216
Rent	-10% $177	-5% $236	+0% $295	+5% $354	+10% $413
Rate	-1.0pp $365	-0.5pp $331	base $295	+0.5pp $259	+1.0pp $222

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
543 N 9th St Unit 543 Panama City, FL	2.0	1.0	850	$1,195	$1.41	15d	1	0.20mi
4837 S Lakewood Dr Panama City, FL	2.0	1.5	1116	$1,500	$1.34	23d	1	0.21mi
4828 Grimes St #3 Panama City, FL	2.0	1.0	850	$1,150	$1.35	23d	1	0.23mi
509 Phillips Ct Panama City, FL	3.0	2.0	1411	$1,700	$1.20	15d	1	0.33mi
322 S Burkett Dr Panama City, FL	1.0–2.0	1.0–2.0	600	$1,519	$2.53	15d	13	0.58mi
129 Seneca Ave Panama City, FL	3.0	2.0	1449	$1,495	$1.03	15d	1	0.64mi
149 North Highway 22 A Unit 5 Panama City, FL	2.0	1.0	900	$1,140	$1.27	15d	1	0.66mi
5813 Hickory St Panama City, FL	3.0	2.0	1200	$1,950	$1.62	23d	1	0.68mi
208 North Highway 22 A Unit 33 Panama City, FL	3.0	2.0	1080	$1,350	$1.25	23d	1	0.81mi
108 N Anita Dr Callaway, FL	1.0	1.0	700	$1,200	$1.71	23d	1	0.84mi
5805 Cherry St Panama City, FL	2.0	1.0	1025	$1,200	$1.17	15d	1	0.85mi
4480 E Highway 98 Panama City, FL	2.0	1.0	972	$1,250	$1.29	23d	1	0.87mi
4480 East Highway 98 Unit 1 Panama City, FL	2.0	1.5	972	$1,250	$1.29	23d	1	0.87mi
5101 Willow St Panama City, FL	3.0	2.0	1099	$1,500	$1.36	15d	1	0.94mi
4905 Alameda St Unit 1 Panama City, FL	3.0	2.0	942	$1,295	$1.37	23d	1	0.98mi
114 S Kimbrel Ave Panama City, FL	3.0	2.0	1400	$1,850	$1.32	23d	1	1.04mi
1128 S Gay Ave Lot 56 Panama City, FL	3.0	1.5	1216	$35,000	$28.78	23d	1	1.09mi
1128 S Gay Ave Lot V Panama City, FL	3.0	2.0	1152	$30,000	$26.04	23d	1	1.09mi
1128 S Gay Ave Lot 86 Panama City, FL	3.0	2.0	1216	$94,995	$78.12	23d	1	1.09mi
1128 S Gay Ave Lot N Panama City, FL	3.0	2.0	924	$40,000	$43.29	23d	1	1.09mi
6328 Olokee St Panama City, FL	3.0	2.0	1131	$1,850	$1.64	15d	1	1.18mi
229 Callaway Chase Ln Panama City, FL	3.0	2.5	1200	$1,650	$1.38	15d	1	1.19mi
6101 Harvey St #3 Panama City, FL	2.0	1.5	1108	$1,050	$0.95	23d	1	1.30mi
237 Helen Ave Panama City, FL	2.0	2.0	1000	$1,395	$1.40	23d	1	1.32mi
6121 Harvey St Unit 8 Panama City, FL	2.0	1.5	1200	$1,050	$0.88	23d	1	1.32mi
6121 Harvey St Apt 16 Panama City, FL	2.0	1.5	1000	$1,090	$1.09	23d	1	1.32mi
420 Raven Ln Panama City, FL	3.0	2.0	1251	$1,750	$1.40	23d	1	1.33mi
526 Camellia Ave Panama City, FL	3.0	2.0	1375	$1,950	$1.42	23d	1	1.40mi
168 N Comet Ave Panama City, FL	2.0	2.0	950	$1,100	$1.16	23d	1	1.42mi

Listing history 27 events

1. 2026-06-21
   days on market $139,900 Active 436 DOM
2. 2026-06-19
   days on market $139,900 Active 434 DOM
3. 2026-06-18
   days on market $139,900 Active 433 DOM
4. 2026-06-17
   days on market $139,900 Active 432 DOM
5. 2026-06-16
   days on market $139,900 Active 431 DOM
6. 2026-06-15
   days on market $139,900 Active 430 DOM
7. 2026-06-14
   days on market $139,900 Active 428 DOM
8. 2026-06-13
   days on market $139,900 Active 427 DOM
9. 2026-06-10
   days on market $139,900 Active 425 DOM
10. 2026-06-09
    days on market $139,900 Active 424 DOM
11. 2026-06-08
    days on market $139,900 Active 423 DOM
12. 2026-06-07
    days on market $139,900 Active 422 DOM
13. 2026-06-05
    days on market $139,900 Active 419 DOM
14. 2026-06-03
    days on market $139,900 Active 418 DOM
15. 2026-06-02
    days on market $139,900 Active 417 DOM
16. 2026-06-01
    days on market $139,900 Active 416 DOM
17. 2026-05-31
    days on market $139,900 Active 415 DOM
18. 2026-05-30
    days on market $139,900 Active 414 DOM
19. 2026-04-27
    price $139,900 976-char remark

    Show marketing remark (976 chars)

    Price Reduced!! Spacious townhome with tons of potential. Come view this two bedroom one bath townhome in Parker, close to Tyndall Airforce Base. This neighborhood provides an HOA with community pool and courtyard area which is great for families or just sitting outside relaxing in the green space. The complex is right across the street from Parker Elementary. The townhome features two bedrooms downstairs with bathroom shared between master bedroom and hall. The upstairs loft has closets and could easily be converted into a third bedroom. The spacious great room gives the home an open feel with easy access to kitchen and covered back patio. A/C replaced on 9/21/23. New interior paint, new fixtures, new carpet, new dishwasher and hood vent. This unit is part of a duplex with both sides for sale together or individually. Unit 517 is in need of a few minor cosmetic renovations while unit 519 has already been remodeled. You can purchase one or both sides together.

20. 2026-04-27
    price $126,500 976-char remark

    Show marketing remark (976 chars)

    Price Reduced!! Spacious townhome with tons of potential. Come view this two bedroom one bath townhome in Parker, close to Tyndall Airforce Base. This neighborhood provides an HOA with community pool and courtyard area which is great for families or just sitting outside relaxing in the green space. The complex is right across the street from Parker Elementary. The townhome features two bedrooms downstairs with bathroom shared between master bedroom and hall. The upstairs loft has closets and could easily be converted into a third bedroom. The spacious great room gives the home an open feel with easy access to kitchen and covered back patio. A/C replaced on 9/21/23. New interior paint, new fixtures, new carpet, new dishwasher and hood vent. This unit is part of a duplex with both sides for sale together or individually. Unit 517 is in need of a few minor cosmetic renovations while unit 519 has already been remodeled. You can purchase one or both sides together.

21. 2026-04-15
    listed $1,250
22. 2025-07-25
    price $119,500 976-char remark

    Show marketing remark (976 chars)

    Price Reduced!! Spacious townhome with tons of potential. Come view this two bedroom one bath townhome in Parker, close to Tyndall Airforce Base. This neighborhood provides an HOA with community pool and courtyard area which is great for families or just sitting outside relaxing in the green space. The complex is right across the street from Parker Elementary. The townhome features two bedrooms downstairs with bathroom shared between master bedroom and hall. The upstairs loft has closets and could easily be converted into a third bedroom. The spacious great room gives the home an open feel with easy access to kitchen and covered back patio. A/C replaced on 9/21/23. New interior paint, new fixtures, new carpet, new dishwasher and hood vent. This unit is part of a duplex with both sides for sale together or individually. Unit 517 is in need of a few minor cosmetic renovations while unit 519 has already been remodeled. You can purchase one or both sides together.

23. 2025-04-18
    status Active 976-char remark

    Show marketing remark (976 chars)

    Price Reduced!! Spacious townhome with tons of potential. Come view this two bedroom one bath townhome in Parker, close to Tyndall Airforce Base. This neighborhood provides an HOA with community pool and courtyard area which is great for families or just sitting outside relaxing in the green space. The complex is right across the street from Parker Elementary. The townhome features two bedrooms downstairs with bathroom shared between master bedroom and hall. The upstairs loft has closets and could easily be converted into a third bedroom. The spacious great room gives the home an open feel with easy access to kitchen and covered back patio. A/C replaced on 9/21/23. New interior paint, new fixtures, new carpet, new dishwasher and hood vent. This unit is part of a duplex with both sides for sale together or individually. Unit 517 is in need of a few minor cosmetic renovations while unit 519 has already been remodeled. You can purchase one or both sides together.

24. 2025-04-14
    historical Active Under Contract 976-char remark

    Show marketing remark (976 chars)

    Price Reduced!! Spacious townhome with tons of potential. Come view this two bedroom one bath townhome in Parker, close to Tyndall Airforce Base. This neighborhood provides an HOA with community pool and courtyard area which is great for families or just sitting outside relaxing in the green space. The complex is right across the street from Parker Elementary. The townhome features two bedrooms downstairs with bathroom shared between master bedroom and hall. The upstairs loft has closets and could easily be converted into a third bedroom. The spacious great room gives the home an open feel with easy access to kitchen and covered back patio. A/C replaced on 9/21/23. New interior paint, new fixtures, new carpet, new dishwasher and hood vent. This unit is part of a duplex with both sides for sale together or individually. Unit 517 is in need of a few minor cosmetic renovations while unit 519 has already been remodeled. You can purchase one or both sides together.

25. 2025-04-07
    listed $129,500 Active 976-char remark

    Show marketing remark (976 chars)

    Price Reduced!! Spacious townhome with tons of potential. Come view this two bedroom one bath townhome in Parker, close to Tyndall Airforce Base. This neighborhood provides an HOA with community pool and courtyard area which is great for families or just sitting outside relaxing in the green space. The complex is right across the street from Parker Elementary. The townhome features two bedrooms downstairs with bathroom shared between master bedroom and hall. The upstairs loft has closets and could easily be converted into a third bedroom. The spacious great room gives the home an open feel with easy access to kitchen and covered back patio. A/C replaced on 9/21/23. New interior paint, new fixtures, new carpet, new dishwasher and hood vent. This unit is part of a duplex with both sides for sale together or individually. Unit 517 is in need of a few minor cosmetic renovations while unit 519 has already been remodeled. You can purchase one or both sides together.

26. 2004-11-02
    soldstatus $69,000 217-char remark

    Show marketing remark (217 chars)

    ALL INFO TAKEN FROM TAX ROLLS, PLEASE VERIFY: GREAT LOCATION FOR TYNDALLITES! CONVENIENT TO THE BASE. 2BD/2BA WITH UPSTAIRS LOFT. THIS UNIT IS NOT A DRIVE BY! GREAT PRICE FOR INVESTOR. ADJACENT UNIT IS ALSO AVAILABLE.

27. 2004-09-01
    listed $69,900 217-char remark

    Show marketing remark (217 chars)

    ALL INFO TAKEN FROM TAX ROLLS, PLEASE VERIFY: GREAT LOCATION FOR TYNDALLITES! CONVENIENT TO THE BASE. 2BD/2BA WITH UPSTAIRS LOFT. THIS UNIT IS NOT A DRIVE BY! GREAT PRICE FOR INVESTOR. ADJACENT UNIT IS ALSO AVAILABLE.

ⓘ 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: $1,099 · $92/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$62/yr (+$5/mo · 5.7%)

ⓘ 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 ≥104°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: $17,900
• − Mortgage interest: −$7,837
• − Property taxes: −$1,099
• − Insurance: −$700
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − Depreciation: −$4,070
• Taxable income: $1,331
• Est. tax owed @ 24.0%: −$320
• After-tax cash flow: $3,219/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

+100.1% since first listed

9 events — show timeline

• 2026-04-27 Price Changed $139,900 CPARMLS
• 2026-04-27 Price Changed $126,500 CPARMLS
• 2026-04-15 Listed for Rent $1,250 HEROPM
• 2025-07-25 Price Changed $119,500 CPARMLS
• 2025-04-18 Relisted — CPARMLS
• 2025-04-14 Contingent — CPARMLS
• 2025-04-07 Listed $129,500 CPARMLS
• 2004-11-02 Sold (MLS) $69,000 CPARMLS
• 2004-09-01 Listed $69,900 CPARMLS

Property tax history

+4.3%/yr

Latest (2025): $1,099 · +9.3% YoY. Source: county tax records.