707 Satsuma Ave · Panama City, FL 32401

$179,900

3 bd · 1.0 ba · 1,160 sqft · SingleFamily public records · 182 Days on market

Built 1952 8,146 sqft lot $155/sqft · at area comps Est $181k · at est.

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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 +21.4/30.0
• ARV discount +7.7/15.0
• DSCR +6.8/10.0
• 1% rule +5.8/10.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step inside this 3-bedroom block home in the heart of Panama City, just minutes from downtown conveniences. Designed for comfort and everyday ease, the home offers luxury vinyl plank flooring, a gas range for the home chef, and two separate living areas perfect for relaxing, entertaining, or creating a dedicated workspace. A standout feature is the wood-burning fireplace, framed by eye-catching brickwork that adds warmth and character to the home. Outside, the spacious backyard includes two 12x20 storage sheds, giving you room for tools, hobbies, or extra belongings.

Key facts

• Spacious backyard
• Two storage sheds
• 8,146 sq ft lot

Tags

• WOOD-BURNING FIREPLACE
• SPACIOUS BACKYARD
• TWO STORAGE SHEDS
• TWO SEPARATE LIVING AREAS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.7% in Panama City — 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 72/100 on livability (#350 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, 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 flat; 261 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
• This rent runs 44% of the median local income ($53k/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 $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

• It's been on market 182 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1952 — 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 $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 1.08% ✓
• Cap rate: 8.07%
• Cash-on-cash: 6.33%
• DSCR: 1.28
• GRM: 7.7

CMA / ARV

• ARV (median comp): $180,652
• List price: $179,900
• Delta: -0.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
722 Williams Ave	0.11mi	2/1.0 (-1)	1,172 (+1%)	1mo	$91,200	$78	88
678 Cypress Ave	0.16mi	2/2.0 (-1)	1,188 (+2%)	7mo	$206,000	$173	74
1001 Cypress Ave	0.41mi	3/1.0	1,204 (+4%)	8mo	$75,000	$62	68
363 Mercedes Ave	0.56mi	3/1.5	1,200 (+3%)	0mo	$295,000	$246	66
1409 E 6th Ct	0.11mi	3/2.0	1,320 (+14%)	3mo	$249,000	$189	66
1606 E 6th Ct	0.17mi	3/2.0	1,040 (-10%)	7mo	$238,000	$229	65
910 E 9th Ct	0.48mi	3/2.0	1,111 (-4%)	5mo	$225,000	$203	63
2212 E 8th St	0.63mi	3/2.0	1,125 (-3%)	2mo	$219,000	$195	59
713 E 10th Ct	0.71mi	3/2.0	1,152 (-1%)	8mo	$225,000	$195	56
2101 E 8Th St	0.49mi	3/2.0	1,256 (+8%)	5mo	$225,000	$179	55
909 Louisiana Ave	0.72mi	3/2.0	1,137 (-2%)	5mo	$240,000	$211	55
825 E 12th St	0.71mi	3/2.0	1,204 (+4%)	3mo	$230,000	$191	54

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 · 0.45% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.66×
• Total profit: $-17,027
• Equity at exit: $26,824

10-year hold

• IRR: -4.0%
• Equity multiple: 0.77×
• Total profit: $-11,768
• Equity at exit: $15,554

Cash invested: $50,372 (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 32401

• Home prices YoY: -32.9%
• Rents YoY: 0.5%
• Active inventory: 261
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,940 high
• Mortgage (P&I): −$943
• Tax from tax record: −$248 /mo · $2,979/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $266

Break-even live

Break-even rent $1,603

Max offer price $179,900

Occupancy floor 81%

Sensitivity live

Price	-10% $368	-5% $317	+0% $266	+5% $215	+10% $164
Rent	-10% $113	-5% $189	+0% $266	+5% $343	+10% $419
Rate	-1.0pp $356	-0.5pp $312	base $266	+0.5pp $219	+1.0pp $172

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
725 Sherman Ave Unit B Panama City, FL	3.0	1.0	878	$1,250	$1.42	22d	1	0.37mi
329 N Palo Alto Ave Panama City, FL	3.0	2.0	1300	$1,950	$1.50	14d	1	0.74mi
300 Mercedes Ave Unit 1523335P Panama City, FL	3.0	2.0	1194	$3,807	$3.19	22d	1	0.76mi
540 E 4th Ct Panama City, FL	2.0	2.0	1196	$1,800	$1.51	22d	1	0.88mi
388 Massalina Dr Panama City, FL	2.0	2.0	800	$1,800	$2.25	14d	1	0.98mi
606 E 13th St Unit 1 Panama City, FL	2.0	1.0	700	$1,250	$1.79	22d	1	1.00mi
603 E 2nd St Panama City, FL	2.0	1.0	900	$1,300	$1.44	22d	1	1.16mi
1114 Mc Kenzie Ave Unit 1 Panama City, FL	2.0	1.0	880	$1,850	$2.10	22d	1	1.19mi
2623 E 16th St Unit A Panama City, FL	3.0	2.0	1250	$1,625	$1.30	22d	1	1.38mi
316 Cherry St #24 Panama City, FL	2.0	2.0	860	$1,800	$2.09	14d	1	1.38mi

Listing history 14 events

1. 2026-04-01
   price $179,900 573-char remark

   Show marketing remark (573 chars)

   Step inside this 3-bedroom block home in the heart of Panama City, just minutes from downtown conveniences. Designed for comfort and everyday ease, the home offers luxury vinyl plank flooring, a gas range for the home chef, and two separate living areas perfect for relaxing, entertaining, or creating a dedicated workspace. A standout feature is the wood-burning fireplace, framed by eye-catching brickwork that adds warmth and character to the home. Outside, the spacious backyard includes two 12x20 storage sheds, giving you room for tools, hobbies, or extra belongings.

2. 2026-01-14
   price $189,900 573-char remark

   Show marketing remark (573 chars)

   Step inside this 3-bedroom block home in the heart of Panama City, just minutes from downtown conveniences. Designed for comfort and everyday ease, the home offers luxury vinyl plank flooring, a gas range for the home chef, and two separate living areas perfect for relaxing, entertaining, or creating a dedicated workspace. A standout feature is the wood-burning fireplace, framed by eye-catching brickwork that adds warmth and character to the home. Outside, the spacious backyard includes two 12x20 storage sheds, giving you room for tools, hobbies, or extra belongings.

3. 2025-11-27
   historical $1,650
4. 2025-11-26
   listed $199,900 Active 573-char remark

   Show marketing remark (573 chars)

   Step inside this 3-bedroom block home in the heart of Panama City, just minutes from downtown conveniences. Designed for comfort and everyday ease, the home offers luxury vinyl plank flooring, a gas range for the home chef, and two separate living areas perfect for relaxing, entertaining, or creating a dedicated workspace. A standout feature is the wood-burning fireplace, framed by eye-catching brickwork that adds warmth and character to the home. Outside, the spacious backyard includes two 12x20 storage sheds, giving you room for tools, hobbies, or extra belongings.

5. 2025-10-22
   price $1,650
6. 2025-10-04
   price $1,700
7. 2025-10-01
   listed $1,550
8. 2024-06-01
   historical $1,450
9. 2024-05-23
   listed $1,450
10. 2022-11-08
    historical
11. 2022-02-16
    soldstatus $175,000
12. 2022-02-11
    soldstatus $175,000 524-char remark

    Show marketing remark (524 chars)

    CURRENTLY UNDER CONTRACT, SELLER ACCEPTING BACKUP OFFERS. Beautifully updated 3 bed, 1 bath, block home located in Panama City, convenient to downtown and one of the area's top hospitals. This charming home features luxury vinyl plank flooring throughout, a gas stove, and plenty of room to relax with a living room and a den. Enjoy a cozy fire in the wood-burning fireplace (featuring unique brick-work!). In the backyard you'll find two 12x20 sheds offering plenty of storage space. Don't miss out on this one, call today!

13. 2021-11-12
    listed $180,800 524-char remark

    Show marketing remark (524 chars)

    CURRENTLY UNDER CONTRACT, SELLER ACCEPTING BACKUP OFFERS. Beautifully updated 3 bed, 1 bath, block home located in Panama City, convenient to downtown and one of the area's top hospitals. This charming home features luxury vinyl plank flooring throughout, a gas stove, and plenty of room to relax with a living room and a den. Enjoy a cozy fire in the wood-burning fireplace (featuring unique brick-work!). In the backyard you'll find two 12x20 sheds offering plenty of storage space. Don't miss out on this one, call today!

14. 1987-10-01
    soldstatus $26,000

ⓘ 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: $2,979 · $248/mo
• Projected year-2 tax: $2,979 · $248/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $23,279
• − Mortgage interest: −$10,077
• − Property taxes: −$2,979
• − Insurance: −$900
• − Repairs & maintenance: −$1,862
• − Management: −$1,862
• − Depreciation: −$5,233
• Taxable income: $365
• Est. tax owed @ 24.0%: −$88
• After-tax cash flow: $3,103/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 — Panama City

• Score: 72/100
• State rank: #350
• US rank: #5823

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Panama City, FL
• County: Bay County · 163,593 people
• City population: 91,445
• Metro: Panama City, FL
• Population (ZIP): 18,947
• Household income: $52,523
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 935.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 23% Hispanic / Latino 11% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% German/W. Germanic 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: ▼ -142.12%
• Current HPI: 290.3312
• Rent YoY: ▲ 0.45%
• 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

+591.9% since first listed

14 events — show timeline

• 2026-04-01 Price Changed $179,900 CPARMLS
• 2026-01-14 Price Changed $189,900 CPARMLS
• 2025-11-27 Rental Removed $1,650 APPFOLIO
• 2025-11-26 Listed $199,900 CPARMLS
• 2025-10-22 Price Changed $1,650 APPFOLIO
• 2025-10-04 Price Changed $1,700 APPFOLIO
• 2025-10-01 Listed for Rent $1,550 APPFOLIO
• 2024-06-01 Rental Removed $1,450 APPFOLIO
• 2024-05-23 Listed for Rent $1,450 APPFOLIO
• 2022-11-08 Rental Removed — RENT.
• 2022-02-16 Sold (Public Records) $175,000 Public Records
• 2022-02-11 Sold (MLS) $175,000 CPARMLS
• 2021-11-12 Listed $180,800 CPARMLS
• 1987-10-01 Sold (Public Records) $26,000 Public Records

Property tax history

+27.0%/yr

Latest (2025): $2,979 · +4.8% YoY. Source: county tax records.