17751 Panama City Beach Pkwy Unit 12E · Panama City Beach, FL 32413

$249,000

2 bd · 2.0 ba · 1,100 sqft · Condo public records · 422 Days on market

Built 1987 ↓ 26% since listing

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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 +23.9/30.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• 1% rule +5.8/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Available all weekend to be shown! $18,000 PRICE IMPROVEMENT -- Opportunity is knocking, and this one won't sit quietly for long. Welcome to Beachwalk Condominium, one of Panama City Beach's best-kept secrets--tucked away on the desirable west end and aptly named for its private walkover bridge that leads you straight to the sugar-white sands of the Gulf. Finding a beautifully updated, meticulously maintained 2-bedroom, 2-bath under $250,000 in this location is rare. Finding one like this is even rarer. From the moment you step inside, the care and quality are unmistakable. Thoughtful upgrades over the past few years include custom cabinetry, quartz countertops, and crown molding throughout

Key facts

• Green space
• Quartz countertops
• Back patios

Tags

• CUSTOM CABINETS
• QUARTZ COUNTERTOPS
• CROWN MOLDING
• BACK PATIOS
• TENNIS COURTS
• GREEN SPACE

Property features AI

Finance

• Other: All units furnished (multi-unit information)
• HOA & community: Has homeowners association; Association amenities include a picnic area; Community amenities include barbecue, clubhouse, park, pool, tennis courts, and community pool

Exterior

• Parking: Additional parking available
• Utilities: Cable connected; Public sewer
• Home design: Stucco construction; Asphalt roof; Building has dumpster
• Construction: Stucco exterior; Asphalt roof
• Exterior features: Balcony; Covered porch; Open porch; Patio; Porch; Community pool; Patio/porch areas; Picnic area (association amenity); Barbecue, clubhouse, park, pool, tennis courts in the community; Short-term rentals allowed in the community

Interior

• Kitchen: Gas range
• Bedrooms: Bedroom on second floor (12 x 10); Primary bedroom on second floor (13 x 12)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning
• Interior features: Living room on the first floor (22 x 15); Balcony, covered and open porch/patio areas noted in exterior (see Exterior section)
• Laundry & utility: Units furnished (all units) — laundry/utility specifics not listed

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $249k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $249k).
• Recommended offer: $219k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 2.6% in Panama City Beach — 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 78/100 on livability (#172 in FL, #2,624 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D-, 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; 1249 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
• This rent runs 40% of the median local income ($80k/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 $7k 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 422 days — a 12% lower offer ($219k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $24k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 8→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 422 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.08% ✓
• Cap rate: 8.63%
• Cash-on-cash: 8.33%
• DSCR: 1.37
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.52% rent growth · sell at horizon

5-year hold

• IRR: -6.4%
• Equity multiple: 0.77×
• Total profit: $-16,108
• Equity at exit: $37,127

10-year hold

• IRR: -0.0%
• Equity multiple: 1.00×
• Total profit: $-31
• Equity at exit: $21,529

Cash invested: $69,720 (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 32413

• Home prices YoY: -34.4%
• Rents YoY: 0.5%
• Active inventory: 1249
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,701 high
• Mortgage (P&I): −$1,306
• Tax from tax record: −$240 /mo · $2,882/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$567
• Net cashflow: $484

Break-even live

Break-even rent $2,088

Max offer price $249,000

Occupancy floor 77%

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17751 Panama City Beach Pkwy Unit 2E Panama City Beach, FL	2.0	2.0	1100	$2,600	$2.36	21d	1	0.02mi
17751 Panama City Beach Pkwy Unit 1523371P Panama City Beach, FL	2.0	2.0	1097	$3,862	$3.52	21d	1	0.03mi
17614 Front Beach Rd Unit 16D Panama City Beach, FL	2.0	1.0	748	$1,600	$2.14	21d	1	0.27mi
17729 Front Beach Rd Unit 1355005P Panama City Beach, FL	1.0	2.0	882	$2,038	$2.31	13d	1	0.29mi
17735 Front Beach Rd Unit 1447171P Panama City Beach, FL	3.0	2.0	1227	$4,925	$4.01	21d	1	0.29mi
17545 Front Beach Rd Unit 1523333P Panama City, FL	2.0	2.0	1140	$6,472	$5.68	13d	1	0.51mi
17462 Front Beach Rd Unit 1 Panama City Beach, FL	1.0	1.0	900	$1,950	$2.17	21d	1	0.57mi
127 Heather Dr Panama City Beach, FL	3.0	2.0	1297	$2,350	$1.81	13d	1	0.87mi
17225 Panama City Beach Pkwy Panama City Beach, FL	1.0–2.0	1.0–2.0	981	$1,719	$1.75	13d	10	1.06mi
19610 Alta Vista Dr Panama City Beach, FL	2.0	1.0	1000	$1,400	$1.40	13d	1	1.10mi
102 Cabana Cay Cir Panama City Beach, FL	1.0–2.0	1.0–2.0	950	$2,143	$2.26	13d	26	1.16mi
17155 Front Beach Rd Unit 1354915P Panama City Beach, FL	2.0	2.0	1194	$2,498	$2.09	21d	1	1.30mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-15
   status Pending
2. 2026-03-19
   price $249,000
3. 2026-01-16
   price $267,000
4. 2025-03-19
   listed $273,000 Active
5. 2023-12-31
   historical
6. 2023-08-31
   price $327,000
7. 2023-06-01
   listed $337,000 Active

ⓘ 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: $2,882 · $240/mo
• Projected year-2 tax: $2,882 · $240/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 5/10 Major
• 🌡 Heat 10/10 Extreme 8 d/yr ≥105°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,409
• − Mortgage interest: −$13,948
• − Property taxes: −$2,882
• − Insurance: −$1,245
• − Repairs & maintenance: −$2,593
• − Management: −$2,593
• − Depreciation: −$7,244
• Taxable income: $1,905
• Est. tax owed @ 24.0%: −$457
• After-tax cash flow: $5,350/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 Beach

• Score: 78/100
• State rank: #172
• US rank: #2624

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Panama City Beach, FL
• County: Bay County · 163,593 people
• City population: 50,689
• Metro: Panama City, FL
• Population (ZIP): 15,453
• Household income: $80,039
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 531.0

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 (87%)
• Race & ethnicity: White 87% Hispanic / Latino 8% Two or more races 6% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Slovak 3% Italian 3% Lithuanian 2%
• Foreign-born: 8% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 0%

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: ▼ -185.97%
• Current HPI: 354.7469
• Rent YoY: ▲ 0.52%
• 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

-26.1% since first listed

7 events — show timeline

• 2026-05-15 Pending — CPARMLS
• 2026-03-19 Price Changed $249,000 CPARMLS
• 2026-01-16 Price Changed $267,000 CPARMLS
• 2025-03-19 Listed $273,000 CPARMLS
• 2023-12-31 Listing Removed — CPARMLS
• 2023-08-31 Price Changed $327,000 CPARMLS
• 2023-06-01 Listed $337,000 CPARMLS

Property tax history

+10.5%/yr

Latest (2025): $2,882 · -2.5% YoY. Source: county tax records.