5026 E Highway 98 · Parker, FL 32404

$97,000

2 bd · 2.0 ba · 990 sqft · SingleFamily public records · 77 Days on market

Built 1929 0.55 ac lot $98/sqft · 49% below area Est $189k · 49% 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 +9.4/10.0
• 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

3 bedroom, 2 bathroom ''diamond in the rough'' home(in need of total renovation)on a little bit more than a half acre lot!! The zoning is both residential and commercial, so you could turn this home into a business as well. With some vision this property could become an incredible dream home or a great business on a highly traveled major road. All information is approximate and should be verified by buyers if important

Key facts

• Half acre lot
• 0.55 acre lot
• Built 1929

Tags

• HALF ACRE LOT
• HIGHLY TRAVELED MAJOR ROAD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $97k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Recommended offer: $91k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.8% 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-, 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); 969 active listings in the ZIP; 15 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 $671 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 $27k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y ago; this cycle's ask has dropped $32k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1929 — 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 $91,180 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — 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 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?
6. 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.
7. 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.
8. 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: 1.44% ✓
• Cap rate: 11.83%
• Cash-on-cash: 19.79%
• DSCR: 1.88
• GRM: 5.8

CMA / ARV

• ARV (median comp): $189,278
• List price: $97,000
• Delta: -48.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4932 E Highway 98	0.12mi	3/2.0 (+1)	1,043 (+5%)	1mo	$157,200	$151	80
651 S Highway 22A	0.29mi	3/1.0 (+1)	964 (-3%)	18mo	$69,000	$72	58
5206 Tiffany Ln	0.36mi	3/2.0 (+1)	1,012 (+2%)	22mo	$180,000	$178	57
632 N 11th St	0.33mi	2/1.0	871 (-12%)	5mo	$140,000	$161	56
523 Highline Dr	0.74mi	3/2.0 (+1)	1,058 (+7%)	3mo	$160,000	$151	46
4837 S Lakewood Dr	0.65mi	2/1.5	1,116 (+13%)	15mo	$166,000	$149	34

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: 9.8%
• Equity multiple: 1.38×
• Total profit: $10,231
• Equity at exit: $14,463

10-year hold

• IRR: 17.3%
• Equity multiple: 2.31×
• Total profit: $35,448
• Equity at exit: $8,387

Cash invested: $27,160 (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: 969
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,397 high
• Mortgage (P&I): −$509
• Tax from tax record: −$106 /mo · $1,276/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $448

Break-even live

Break-even rent $830

Max offer price $97,000

Occupancy floor 63%

Sensitivity live

Price	-10% $503	-5% $475	+0% $448	+5% $421	+10% $393
Rent	-10% $338	-5% $393	+0% $448	+5% $503	+10% $558
Rate	-1.0pp $497	-0.5pp $473	base $448	+0.5pp $423	+1.0pp $397

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: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Rent comps 15 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	14d	1	0.45mi
4828 Grimes St #3 Panama City, FL	2.0	1.0	850	$1,150	$1.35	22d	1	0.46mi
4837 S Lakewood Dr Panama City, FL	2.0	1.5	1116	$1,500	$1.34	22d	1	0.64mi
1128 S Gay Ave Lot N Panama City, FL	3.0	2.0	924	$40,000	$43.29	22d	1	0.71mi
4480 East Highway 98 Unit 1 Panama City, FL	2.0	1.5	972	$1,250	$1.29	22d	1	0.77mi
4480 E Highway 98 Panama City, FL	2.0	1.0	972	$1,250	$1.29	22d	1	0.77mi
322 S Burkett Dr Panama City, FL	1.0–2.0	1.0–2.0	600	$1,519	$2.53	14d	13	0.84mi
149 North Highway 22 A Unit 5 Panama City, FL	2.0	1.0	900	$1,140	$1.27	14d	1	1.15mi
108 N Anita Dr Callaway, FL	1.0	1.0	700	$1,200	$1.71	22d	1	1.18mi
5805 Cherry St Panama City, FL	2.0	1.0	1025	$1,200	$1.17	14d	1	1.19mi
208 North Highway 22 A Unit 33 Panama City, FL	3.0	2.0	1080	$1,350	$1.25	22d	1	1.29mi
6600 Oakshore Dr Panama City, FL	1.0–3.0	1.0–2.0	1002	$1,938	$1.93	14d	57	1.40mi
5101 Willow St Panama City, FL	3.0	2.0	1099	$1,500	$1.36	14d	1	1.42mi
719 S Berthe Ave Unit 8 Panama City, FL	2.0	1.0	910	$1,000	$1.10	22d	1	1.43mi
4905 Alameda St Unit 1 Panama City, FL	3.0	2.0	942	$1,295	$1.37	22d	1	1.47mi

Listing history 23 events

1. 2026-06-19
   days on market $97,000 Active 77 DOM
2. 2026-06-18
   remarks 469-char remark
3. 2026-06-18
   price $97,000 Active 76 DOM
4. 2026-06-18
   days on market $99,900 Active 76 DOM
5. 2026-06-17
   days on market $99,900 Active 75 DOM
6. 2026-06-16
   days on market $99,900 Active 74 DOM
7. 2026-06-15
   days on market $99,900 Active 73 DOM
8. 2026-06-14
   days on market $99,900 Active 71 DOM
9. 2026-06-13
   days on market $99,900 Active 70 DOM
10. 2026-06-10
    days on market $99,900 Active 68 DOM
11. 2026-06-09
    days on market $99,900 Active 67 DOM
12. 2026-06-08
    days on market $99,900 Active 66 DOM
13. 2026-06-07
    days on market $99,900 Active 65 DOM
14. 2026-06-05
    days on market $99,900 Active 62 DOM
15. 2026-06-03
    days on market $99,900 Active 61 DOM
16. 2026-06-02
    days on market $99,900 Active 60 DOM
17. 2026-06-01
    days on market $99,900 Active 59 DOM
18. 2026-05-31
    days on market $99,900 Active 58 DOM
19. 2026-05-30
    days on market $99,900 Active 57 DOM
20. 2026-04-03
    listed $129,000 Active 423-char remark

    Show marketing remark (423 chars)

    3 bedroom, 2 bathroom ''diamond in the rough'' home(in need of total renovation)on a little bit more than a half acre lot!! The zoning is both residential and commercial, so you could turn this home into a business as well. With some vision this property could become an incredible dream home or a great business on a highly traveled major road. All information is approximate and should be verified by buyers if important

21. 2008-02-15
    soldstatus $120,000
22. 2001-09-03
    soldstatus $36,000 184-char remark

    Show marketing remark (184 chars)

    HOUSE SOLD AS IS!FIXER UPPER, NEEDS SOME WORK ON INSIDE BUT OUTSIDE IS IN GOOD CONDITION, ROOF ONLY 4 YEARS AND BEEN REPAINTED RECENTLY. HUGE WORKSHOP, CAN BE USED FOR COMMERCIAL ALSO.

23. 2001-02-16
    listed $43,000 184-char remark

    Show marketing remark (184 chars)

    HOUSE SOLD AS IS!FIXER UPPER, NEEDS SOME WORK ON INSIDE BUT OUTSIDE IS IN GOOD CONDITION, ROOF ONLY 4 YEARS AND BEEN REPAINTED RECENTLY. HUGE WORKSHOP, CAN BE USED FOR COMMERCIAL ALSO.

ⓘ 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: $1,276 · $106/mo
• Projected year-2 tax: $1,276 · $106/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) · 14% 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: $16,760
• − Mortgage interest: −$5,434
• − Property taxes: −$1,276
• − Insurance: −$485
• − Repairs & maintenance: −$1,341
• − Management: −$1,341
• − Depreciation: −$2,822
• Taxable income: $4,062
• Est. tax owed @ 24.0%: −$975
• After-tax cash flow: $4,401/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

+200.0% since first listed

4 events — show timeline

• 2026-04-03 Listed $129,000 CPARMLS
• 2008-02-15 Sold (Public Records) $120,000 Public Records
• 2001-09-03 Sold (MLS) $36,000 CPARMLS
• 2001-02-16 Listed $43,000 CPARMLS

Property tax history

+8.8%/yr

Latest (2025): $1,276 · +8.3% YoY. Source: county tax records.