4003 Torino Way · Panama City, FL 32405

$344,900

3 bd · 2.0 ba · 1,736 sqft · SingleFamily public records · 101 Days on market

Built 1986 8,668 sqft lot $199/sqft · at area comps Est $452k · 24% under

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +6.9/30.0
• Schools +4.3/10.0
• Livability +3.6/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• DSCR +1.1/10.0
• 1% rule +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious and beautifully completely renovated home in the desirable Venetian Villa neighborhood! This well-maintained property features 5 bedrooms, 2 bathrooms, plus a bonus room and dedicated office, offering plenty of space for a growing family, work-from-home needs, or hobbies. The home welcomes you with a sunken living room featuring a cozy gas fireplace, creating a warm and inviting gathering space. The dining room showcases charming bay windows, allowing natural light to fill the space. The kitchen is equipped with stainless steel LG appliances, quartz countertops, a center island, white cabinetry, tile backsplash, and a French door refrigerator, making it both functional and stylish. The primary bedroom and all four additional bedrooms feature carpet, while the remainder of the home offers durable luxury vinyl plank flooring. Bedroom windows are designed with extra depth, perfect for creating window seats or cozy reading nooks. Major updates include a new HVAC system installed in 2024 by Peaden and a gas hot water heater approximately 2-3 years old. Following Hurricane Michael, the home received new Hardie board siding and brick fascia replacement, providing added durability and peace of mind. Outdoor features are ideal for storage, projects, and recreation. The fully fenced backyard includes an 8-foot privacy fence with double gates on two sides, a 10x24 storage shed, and a 10x20 wired workshop shed. RV owners will appreciate the 30-amp RV hookup in the yard and sewer cleanout located at the front of the home. Located close to the water in the family-friendly Venetian Villa community, this home offers sidewalk-lined streets, excellent school zones, and a welcoming neighborhood atmosphere. It is conveniently located to stores, shopping, movies and 10 minutes from the world's most beautiful beaches. A rare opportunity to find this much space, functionality, and thoughtful upgrades in such a desirable location! Seller offering a $5000.00 carpet allowance with acceptable offer.

Key facts

• Quartz countertops
• Sunken living room
• Gas fireplace

Tags

• COMPLETELY RENOVATED HOME
• SUNKEN LIVING ROOM
• GAS FIREPLACE
• CHARMING BAY WINDOWS
• STAINLESS STEEL APPLIANCES
• QUARTZ COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $345k.

Deal economics

• At list price, monthly cash flow is $-593 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (30.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (41.8% below list).
• Recommended offer: $201k (41.8% below list) — sets the bar for 1% rule.

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 rising (+1.2%/yr); 381 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
• This rent runs 33% of the median local income ($73k/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 $10k 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 101 days — a 9% lower offer ($314k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 28y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $200k; list at $345k implies a 72% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $200,772 (41.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.58% ✗
• Cap rate: 4.46%
• Cash-on-cash: -6.54%
• DSCR: 0.71
• GRM: 14.3

CMA / ARV

• ARV (median comp): $452,096
• List price: $344,900
• Delta: -23.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4333 Misty Ln	0.46mi	3/2.0	1,800 (+4%)	13mo	$375,000	$208	62
1230 Tuscany Rd	0.18mi	3/2.0	1,890 (+9%)	23mo	$765,000	$405	58
708 Venetian Way	0.52mi	3/2.0	1,800 (+4%)	18mo	$325,000	$181	55
3918 Milano Rd	0.08mi	3/2.0	1,488 (-14%)	22mo	$315,000	$212	54
1034 Blossom St	0.73mi	3/2.0	1,761 (+1%)	19mo	$475,000	$270	48
1901 Royal Tern St Lot 408	0.73mi	3/2.0	1,750 (+1%)	22mo	$517,589	$296	46
709 Baywood Dr	0.50mi	3/2.0	1,901 (+10%)	23mo	$365,000	$192	42
2109 Sedges Ave	0.71mi	3/2.0	1,849 (+6%)	22mo	$540,000	$292	37
503 Candlewick Dr	0.68mi	4/2.0 (+1)	1,995 (+15%)	13mo	$485,000	$243	27

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 · 1.24% rent growth · sell at horizon

5-year hold

• IRR: -30.9%
• Equity multiple: -0.01×
• Total profit: $-97,254
• Equity at exit: $51,426

10-year hold

• IRR: -43.1%
• Equity multiple: -0.53×
• Total profit: $-147,557
• Equity at exit: $29,821

Cash invested: $96,572 (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 32405

• Rents YoY: 1.2%
• Active inventory: 381
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $2,008 high
• Mortgage (P&I): −$1,809
• Tax from tax record: −$160 /mo · $1,924/yr
• Insurance: −$144
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $-593

Break-even live

Break-even rent $2,759

Max offer price $240,123

Occupancy floor —

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: $86,225
• Closing costs: $10,347
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1345 Capri Dr Panama City, FL	3.0	2.5	1572	$1,925	$1.22	13d	1	0.15mi
604 Mallory Dr Panama City, FL	3.0	2.0	1799	$2,500	$1.39	13d	1	0.44mi
3938 Solano Rd Unit 3938 Panama City, FL	3.0	2.5	1450	$1,800	$1.24	21d	1	0.64mi
3900 Arbor Trace Dr Lynn Haven, FL	2.0–3.0	2.0	1520	$1,854	$1.22	13d	34	0.77mi
1125 Bradley Cir Lynn Haven, FL	3.0	2.0	1190	$1,850	$1.55	13d	1	0.98mi
1117 Blazing Star St Panama City, FL	3.0	2.0	1800	$2,500	$1.39	21d	1	0.99mi
3625 Frankford Ave Panama City, FL	1.0–3.0	1.0–2.0	943	$1,877	$1.99	13d	29	1.05mi
3100 Sweetbay Ave Panama City, FL	1.0–3.0	1.0–2.0	957	$2,168	$2.26	13d	26	1.10mi
3502 Jenks Ave Panama City, FL	1.0–3.0	1.0–2.0	1176	$1,850	$1.57	13d	24	1.20mi

Listing history 31 events

1. 2026-06-19
   days on market $344,900 Active 101 DOM
2. 2026-06-18
   days on market $344,900 Active 100 DOM
3. 2026-06-17
   days on market $344,900 Active 99 DOM
4. 2026-06-16
   days on market $344,900 Active 98 DOM
5. 2026-06-15
   days on market $344,900 Active 97 DOM
6. 2026-06-14
   days on market $344,900 Active 95 DOM
7. 2026-06-13
   days on market $344,900 Active 94 DOM
8. 2026-06-10
   days on market $344,900 Active 92 DOM
9. 2026-06-09
   days on market $344,900 Active 91 DOM
10. 2026-06-08
    days on market $344,900 Active 90 DOM
11. 2026-06-07
    days on market $344,900 Active 89 DOM
12. 2026-06-05
    pricedays on market $344,900 Active 86 DOM
13. 2026-06-03
    days on market $349,900 Active 85 DOM
14. 2026-06-02
    days on market $349,900 Active 84 DOM
15. 2026-06-01
    days on market $349,900 Active 83 DOM
16. 2026-05-31
    days on market $349,900 Active 82 DOM
17. 2026-05-30
    days on market $349,900 Active 81 DOM
18. 2026-04-24
    price $349,900 2016-char remark

    Show marketing remark (2016 chars)

    Spacious and beautifully completely renovated home in the desirable Venetian Villa neighborhood! This well-maintained property features 5 bedrooms, 2 bathrooms, plus a bonus room and dedicated office, offering plenty of space for a growing family, work-from-home needs, or hobbies. The home welcomes you with a sunken living room featuring a cozy gas fireplace, creating a warm and inviting gathering space. The dining room showcases charming bay windows, allowing natural light to fill the space. The kitchen is equipped with stainless steel LG appliances, quartz countertops, a center island, white cabinetry, tile backsplash, and a French door refrigerator, making it both functional and stylish. The primary bedroom and all four additional bedrooms feature carpet, while the remainder of the home offers durable luxury vinyl plank flooring. Bedroom windows are designed with extra depth, perfect for creating window seats or cozy reading nooks. Major updates include a new HVAC system installed in 2024 by Peaden and a gas hot water heater approximately 2-3 years old. Following Hurricane Michael, the home received new Hardie board siding and brick fascia replacement, providing added durability and peace of mind. Outdoor features are ideal for storage, projects, and recreation. The fully fenced backyard includes an 8-foot privacy fence with double gates on two sides, a 10x24 storage shed, and a 10x20 wired workshop shed. RV owners will appreciate the 30-amp RV hookup in the yard and sewer cleanout located at the front of the home. Located close to the water in the family-friendly Venetian Villa community, this home offers sidewalk-lined streets, excellent school zones, and a welcoming neighborhood atmosphere. It is conveniently located to stores, shopping, movies and 10 minutes from the world's most beautiful beaches. A rare opportunity to find this much space, functionality, and thoughtful upgrades in such a desirable location! Seller offering a $5000.00 carpet allowance with acceptable offer.

19. 2026-03-08
    listed $355,000 Active 2016-char remark

    Show marketing remark (2016 chars)

    Spacious and beautifully completely renovated home in the desirable Venetian Villa neighborhood! This well-maintained property features 5 bedrooms, 2 bathrooms, plus a bonus room and dedicated office, offering plenty of space for a growing family, work-from-home needs, or hobbies. The home welcomes you with a sunken living room featuring a cozy gas fireplace, creating a warm and inviting gathering space. The dining room showcases charming bay windows, allowing natural light to fill the space. The kitchen is equipped with stainless steel LG appliances, quartz countertops, a center island, white cabinetry, tile backsplash, and a French door refrigerator, making it both functional and stylish. The primary bedroom and all four additional bedrooms feature carpet, while the remainder of the home offers durable luxury vinyl plank flooring. Bedroom windows are designed with extra depth, perfect for creating window seats or cozy reading nooks. Major updates include a new HVAC system installed in 2024 by Peaden and a gas hot water heater approximately 2-3 years old. Following Hurricane Michael, the home received new Hardie board siding and brick fascia replacement, providing added durability and peace of mind. Outdoor features are ideal for storage, projects, and recreation. The fully fenced backyard includes an 8-foot privacy fence with double gates on two sides, a 10x24 storage shed, and a 10x20 wired workshop shed. RV owners will appreciate the 30-amp RV hookup in the yard and sewer cleanout located at the front of the home. Located close to the water in the family-friendly Venetian Villa community, this home offers sidewalk-lined streets, excellent school zones, and a welcoming neighborhood atmosphere. It is conveniently located to stores, shopping, movies and 10 minutes from the world's most beautiful beaches. A rare opportunity to find this much space, functionality, and thoughtful upgrades in such a desirable location! Seller offering a $5000.00 carpet allowance with acceptable offer.

20. 2006-11-15
    soldstatus $200,000
21. 2006-11-14
    soldstatus $200,000 1351-char remark

    Show marketing remark (1351 chars)

    BEAUTIFUL 4 bedroom brick home with many updates. This home has had a new roof in 2003, new interior & exterior air conditioner 2003, new tile, new paint, new carpet in all the bedrooms, new laminate wood floors in Living room, backyard is landscaped with new sod, sprinkler system on a well pump. This home has ceramic tile in the entry foyer, kitchen, laundry room, hallway and bathrooms, Hardwood floors in the dining room. This is one of the least expensive 4 bedroom homes on the market. Great room with gas fireplace, large kitchen with island, split bedroom floor plan skylights in both bathrooms, on corner lot. Exterior of the home was painted in the last 3 years. Garage partially converted into two small bonus rooms that are heated and cooled(the square footage of these converted spaces are NOT counted in square footage listed for this house, if included house would be approx. 2027sf) one room is currently used as an office the other a general purpose interior storage or utility room. Can be easily converted back into full 2 car garage by the seller. Great room is wired for surround sound and there are computer network wires in three of the bedrooms and the office space. Call me today because this home will not last long in today's real estate market. FLOOD INSURANCE NOT REQUIRED. HOME HAS TERMITE BOND AND HOME WARANTEE!

22. 2006-07-11
    listed $210,000 1351-char remark

    Show marketing remark (1351 chars)

    BEAUTIFUL 4 bedroom brick home with many updates. This home has had a new roof in 2003, new interior & exterior air conditioner 2003, new tile, new paint, new carpet in all the bedrooms, new laminate wood floors in Living room, backyard is landscaped with new sod, sprinkler system on a well pump. This home has ceramic tile in the entry foyer, kitchen, laundry room, hallway and bathrooms, Hardwood floors in the dining room. This is one of the least expensive 4 bedroom homes on the market. Great room with gas fireplace, large kitchen with island, split bedroom floor plan skylights in both bathrooms, on corner lot. Exterior of the home was painted in the last 3 years. Garage partially converted into two small bonus rooms that are heated and cooled(the square footage of these converted spaces are NOT counted in square footage listed for this house, if included house would be approx. 2027sf) one room is currently used as an office the other a general purpose interior storage or utility room. Can be easily converted back into full 2 car garage by the seller. Great room is wired for surround sound and there are computer network wires in three of the bedrooms and the office space. Call me today because this home will not last long in today's real estate market. FLOOD INSURANCE NOT REQUIRED. HOME HAS TERMITE BOND AND HOME WARANTEE!

23. 2003-09-26
    soldstatus $139,900
24. 2003-09-22
    soldstatus $139,900
25. 2003-07-31
    listed $139,900
26. 2001-03-20
    soldstatus $110,000
27. 2001-03-16
    soldstatus $110,000
28. 2000-12-04
    listed $112,500
29. 1999-03-15
    soldstatus $95,000
30. 1999-03-01
    soldstatus $95,000
31. 1998-11-16
    listed $98,500

ⓘ 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: $1,924 · $160/mo
• Projected year-2 tax: $2,863 · $239/mo
• Expected delta: +$938/yr (+$78/mo · 48.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 75% 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: $24,093
• − Mortgage interest: −$19,320
• − Property taxes: −$1,924
• − Insurance: −$2,522
• − Repairs & maintenance: −$1,927
• − Management: −$1,927
• − Depreciation: −$10,033
• Taxable loss: −$13,562
• Est. tax savings @ 24.0%: +$3,255
• After-tax cash flow: $-3,863/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): 29,984
• Household income: $73,373
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1008.0

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 (67%)
• Race & ethnicity: White 67% Black 17% Two or more races 8% Hispanic / Latino 7% Native American 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Slovak 4% Lithuanian 2% Romanian 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 6% Arabic 1% French/Haitian/Cajun 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: ▼ -217.88%
• Current HPI: 262.7854
• Rent YoY: ▲ 1.24%
• 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

+255.2% since first listed

14 events — show timeline

• 2026-04-24 Price Changed $349,900 CPARMLS
• 2026-03-08 Listed $355,000 CPARMLS
• 2006-11-15 Sold (Public Records) $200,000 Public Records
• 2006-11-14 Sold (MLS) $200,000 CPARMLS
• 2006-07-11 Listed $210,000 CPARMLS
• 2003-09-26 Sold (Public Records) $139,900 Public Records
• 2003-09-22 Sold (MLS) $139,900 CPARMLS
• 2003-07-31 Listed $139,900 CPARMLS
• 2001-03-20 Sold (Public Records) $110,000 Public Records
• 2001-03-16 Sold (MLS) $110,000 CPARMLS
• 2000-12-04 Listed $112,500 CPARMLS
• 1999-03-15 Sold (MLS) $95,000 CPARMLS
• 1999-03-01 Sold (Public Records) $95,000 Public Records
• 1998-11-16 Listed $98,500 CPARMLS

Property tax history

+2.2%/yr

Latest (2025): $1,924 · +3.5% YoY. Source: county tax records.