1013 Georgia Ave Unit A · Callaway, FL 32404

$90,000

2 bd · 2.0 ba · 750 sqft · SingleFamily public records · 328 Days on market

Built 1983 $120/sqft · 26% below area Est $122k · 26% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• 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

Investor Special! This partially renovated gem in Panama City is ready for your final touches and vision. Located just minutes from Tyndall Parkway and a short drive to Tyndall Air Force Base, this property sits in a convenient and growing area with strong rental demand. The exterior has already been updated with a clean, fresh look, and much of the interior groundwork has been started offering a head start for your next flip or long-term hold. The heavy lifting is done, and now it's a blank canvas ready for drywall, finishes, and final design. Whether you're looking to complete a quick flip or add to your rental portfolio, this is the kind of value-add opportunity that savvy investors watch for. With solid bones, recent improvements, and the freedom to finish it your way, 1013 Georgia Ave APT A is a chance to get in before the next wave of growth. This one likely won't qualify for traditional financing, so cash or renovation loans will be key. Don't miss your chance to transform this property and reap the rewards opportunities like this don't come around often!

Key facts

• Strong rental demand
• Recent improvements
• Partially renovated

Tags

• PARTIALLY RENOVATED
• STRONG RENTAL DEMAND
• RECENT IMPROVEMENTS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $504 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.0% 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+, 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); 981 active listings in the ZIP; 11 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 328 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $20k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; list at $90k implies a 215% 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 328 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: 1.49% ✓
• Cap rate: 13.01%
• Cash-on-cash: 24.00%
• DSCR: 2.07
• GRM: 5.6

CMA / ARV

• ARV (median comp): $122,168
• List price: $90,000
• Delta: -26.33%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 15.2%
• Equity multiple: 1.60×
• Total profit: $15,008
• Equity at exit: $13,419

10-year hold

• IRR: 22.5%
• Equity multiple: 2.77×
• Total profit: $44,481
• Equity at exit: $7,782

Cash invested: $25,200 (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 32404

• Home prices YoY: -16.1%
• Rents YoY: 1.1%
• Active inventory: 981
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,342 high
• Mortgage (P&I): −$472
• Tax from tax record: −$46 /mo · $555/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $504

Break-even live

Break-even rent $703

Max offer price $90,000

Occupancy floor 57%

Sensitivity live

Price	-10% $555	-5% $530	+0% $504	+5% $479	+10% $453
Rent	-10% $398	-5% $451	+0% $504	+5% $557	+10% $610
Rate	-1.0pp $549	-0.5pp $527	base $504	+0.5pp $481	+1.0pp $457

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1128 S Gay Ave Lot N Panama City, FL	3.0	2.0	924	$40,000	$43.29	22d	1	0.35mi
719 S Berthe Ave Unit 8 Panama City, FL	2.0	1.0	910	$1,000	$1.10	22d	1	0.67mi
322 S Burkett Dr Panama City, FL	1.0–2.0	1.0–2.0	600	$1,519	$2.53	14d	13	0.90mi
6724 Chipewa St Unit 6724 Panama City, FL	2.0	1.0	1000	$1,125	$1.12	14d	1	1.18mi
543 N 9th St Unit 543 Panama City, FL	2.0	1.0	850	$1,195	$1.41	14d	1	1.19mi
108 N Anita Dr Callaway, FL	1.0	1.0	700	$1,200	$1.71	22d	1	1.20mi
5805 Cherry St Panama City, FL	2.0	1.0	1025	$1,200	$1.17	14d	1	1.20mi
4828 Grimes St #3 Panama City, FL	2.0	1.0	850	$1,150	$1.35	22d	1	1.21mi
4837 S Lakewood Dr Panama City, FL	2.0	1.5	1116	$1,500	$1.34	22d	1	1.30mi
168 N Comet Ave Panama City, FL	2.0	2.0	950	$1,100	$1.16	22d	1	1.36mi
116 Christie Ln Panama City, FL	3.0	2.0	1092	$1,550	$1.42	22d	1	1.48mi

Listing history 28 events

1. 2026-06-21
   days on market $90,000 Active 328 DOM
2. 2026-06-19
   days on market $90,000 Active 326 DOM
3. 2026-06-18
   days on market $90,000 Active 325 DOM
4. 2026-06-17
   days on market $90,000 Active 324 DOM
5. 2026-06-16
   days on market $90,000 Active 323 DOM
6. 2026-06-15
   days on market $90,000 Active 322 DOM
7. 2026-06-14
   days on market $90,000 Active 320 DOM
8. 2026-06-13
   days on market $90,000 Active 319 DOM
9. 2026-06-10
   days on market $90,000 Active 317 DOM
10. 2026-06-09
    days on market $90,000 Active 316 DOM
11. 2026-06-08
    days on market $90,000 Active 315 DOM
12. 2026-06-07
    days on market $90,000 Active 314 DOM
13. 2026-06-05
    days on market $90,000 Active 311 DOM
14. 2026-06-03
    days on market $90,000 Active 310 DOM
15. 2026-06-02
    days on market $90,000 Active 309 DOM
16. 2026-06-01
    days on market $90,000 Active 308 DOM
17. 2026-05-31
    days on market $90,000 Active 307 DOM
18. 2026-05-30
    days on market $90,000 Active 306 DOM
19. 2026-04-20
    price $90,000 1082-char remark

    Show marketing remark (1082 chars)

    Investor Special! This partially renovated gem in Panama City is ready for your final touches and vision. Located just minutes from Tyndall Parkway and a short drive to Tyndall Air Force Base, this property sits in a convenient and growing area with strong rental demand. The exterior has already been updated with a clean, fresh look, and much of the interior groundwork has been started offering a head start for your next flip or long-term hold. The heavy lifting is done, and now it's a blank canvas ready for drywall, finishes, and final design. Whether you're looking to complete a quick flip or add to your rental portfolio, this is the kind of value-add opportunity that savvy investors watch for. With solid bones, recent improvements, and the freedom to finish it your way, 1013 Georgia Ave APT A is a chance to get in before the next wave of growth. This one likely won't qualify for traditional financing, so cash or renovation loans will be key. Don't miss your chance to transform this property and reap the rewards opportunities like this don't come around often!

20. 2025-12-30
    price $95,000 1082-char remark

    Show marketing remark (1082 chars)

    Investor Special! This partially renovated gem in Panama City is ready for your final touches and vision. Located just minutes from Tyndall Parkway and a short drive to Tyndall Air Force Base, this property sits in a convenient and growing area with strong rental demand. The exterior has already been updated with a clean, fresh look, and much of the interior groundwork has been started offering a head start for your next flip or long-term hold. The heavy lifting is done, and now it's a blank canvas ready for drywall, finishes, and final design. Whether you're looking to complete a quick flip or add to your rental portfolio, this is the kind of value-add opportunity that savvy investors watch for. With solid bones, recent improvements, and the freedom to finish it your way, 1013 Georgia Ave APT A is a chance to get in before the next wave of growth. This one likely won't qualify for traditional financing, so cash or renovation loans will be key. Don't miss your chance to transform this property and reap the rewards opportunities like this don't come around often!

21. 2025-10-23
    price $99,999 1082-char remark

    Show marketing remark (1082 chars)

    Investor Special! This partially renovated gem in Panama City is ready for your final touches and vision. Located just minutes from Tyndall Parkway and a short drive to Tyndall Air Force Base, this property sits in a convenient and growing area with strong rental demand. The exterior has already been updated with a clean, fresh look, and much of the interior groundwork has been started offering a head start for your next flip or long-term hold. The heavy lifting is done, and now it's a blank canvas ready for drywall, finishes, and final design. Whether you're looking to complete a quick flip or add to your rental portfolio, this is the kind of value-add opportunity that savvy investors watch for. With solid bones, recent improvements, and the freedom to finish it your way, 1013 Georgia Ave APT A is a chance to get in before the next wave of growth. This one likely won't qualify for traditional financing, so cash or renovation loans will be key. Don't miss your chance to transform this property and reap the rewards opportunities like this don't come around often!

22. 2025-09-23
    price $104,999 1082-char remark

    Show marketing remark (1082 chars)

    Investor Special! This partially renovated gem in Panama City is ready for your final touches and vision. Located just minutes from Tyndall Parkway and a short drive to Tyndall Air Force Base, this property sits in a convenient and growing area with strong rental demand. The exterior has already been updated with a clean, fresh look, and much of the interior groundwork has been started offering a head start for your next flip or long-term hold. The heavy lifting is done, and now it's a blank canvas ready for drywall, finishes, and final design. Whether you're looking to complete a quick flip or add to your rental portfolio, this is the kind of value-add opportunity that savvy investors watch for. With solid bones, recent improvements, and the freedom to finish it your way, 1013 Georgia Ave APT A is a chance to get in before the next wave of growth. This one likely won't qualify for traditional financing, so cash or renovation loans will be key. Don't miss your chance to transform this property and reap the rewards opportunities like this don't come around often!

23. 2025-07-23
    listed $109,900 Active 1082-char remark

    Show marketing remark (1082 chars)

    Investor Special! This partially renovated gem in Panama City is ready for your final touches and vision. Located just minutes from Tyndall Parkway and a short drive to Tyndall Air Force Base, this property sits in a convenient and growing area with strong rental demand. The exterior has already been updated with a clean, fresh look, and much of the interior groundwork has been started offering a head start for your next flip or long-term hold. The heavy lifting is done, and now it's a blank canvas ready for drywall, finishes, and final design. Whether you're looking to complete a quick flip or add to your rental portfolio, this is the kind of value-add opportunity that savvy investors watch for. With solid bones, recent improvements, and the freedom to finish it your way, 1013 Georgia Ave APT A is a chance to get in before the next wave of growth. This one likely won't qualify for traditional financing, so cash or renovation loans will be key. Don't miss your chance to transform this property and reap the rewards opportunities like this don't come around often!

24. 2023-08-22
    soldstatus $28,600 Closed 236-char remark

    Show marketing remark (236 chars)

    Great opportunity for a unit in East Bay Park! Large living room. Kitchen includes space for breakfast area and looks out the back sliding glass door. Home has room for two spacious bedrooms and a full bathroom. Submit your offer today!

25. 2023-07-31
    status Pending 236-char remark

    Show marketing remark (236 chars)

    Great opportunity for a unit in East Bay Park! Large living room. Kitchen includes space for breakfast area and looks out the back sliding glass door. Home has room for two spacious bedrooms and a full bathroom. Submit your offer today!

26. 2023-07-06
    listed $26,000 Active 236-char remark

    Show marketing remark (236 chars)

    Great opportunity for a unit in East Bay Park! Large living room. Kitchen includes space for breakfast area and looks out the back sliding glass door. Home has room for two spacious bedrooms and a full bathroom. Submit your offer today!

27. 1993-12-01
    soldstatus $29,000
28. 1983-05-01
    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: $555 · $46/mo
• Projected year-2 tax: $747 · $62/mo
• Expected delta: +$192/yr (+$16/mo · 34.5%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°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: $16,098
• − Mortgage interest: −$5,041
• − Property taxes: −$555
• − Insurance: −$450
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$2,618
• Taxable income: $4,858
• Est. tax owed @ 24.0%: −$1,166
• After-tax cash flow: $4,883/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

• Census place: Callaway, 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

+246.2% since first listed

10 events — show timeline

• 2026-04-20 Price Changed $90,000 ECAR
• 2025-12-30 Price Changed $95,000 ECAR
• 2025-10-23 Price Changed $99,999 ECAR
• 2025-09-23 Price Changed $104,999 ECAR
• 2025-07-23 Listed $109,900 ECAR
• 2023-08-22 Sold (MLS) $28,600 CPARMLS
• 2023-07-31 Pending — CPARMLS
• 2023-07-06 Listed $26,000 CPARMLS
• 1993-12-01 Sold (Public Records) $29,000 Public Records
• 1983-05-01 Sold (Public Records) $26,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $555 · +4.1% YoY. Source: county tax records.