112 Fairway Blvd #406 · Panama City Beach, FL 32407

$149,900

1 bd · 1.0 ba · 950 sqft · Condo public records · 6 Days on market

Built 1972

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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).

• Cash flow +9.8/30.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• Schools +4.3/10.0
• Livability +3.9/5.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Move right in and start enjoying the lifestyle you've been looking for! This updated top-floor 1-bedroom, 1-bath condo offers the added peace and privacy of having no neighbors above you. Recent improvements include luxury vinyl plank flooring throughout, fresh interior paint, and a new A/C system, making this condo truly move-in ready. The spacious floor plan overlooks the golf course and large screened balcony extends the living space and provides the ideal spot to enjoy your morning coffee or unwind in the evenings. Community amenities include a sparkling pool, clubhouse, and golf right outside your back door. Conveniently located just minutes from the beach, shopping, dining, and entert

Key facts

• Minutes from beach
• Clubhouse
• Top-floor condo

Tags

• TOP-FLOOR CONDO
• GOLF COURSE VIEWS
• LARGE SCREENED BALCONY
• CLUBHOUSE
• MINUTES FROM BEACH

Property features AI

Finance

• HOA & community: Homeowners association; Community amenities include pool, clubhouse, barbecue area, elevator and laundry facilities

Exterior

• Utilities: Electricity available; Public sewer
• Home design: Condo; Entry on level 4
• Construction: Concrete and stucco construction; Slab foundation
• Exterior features: Balcony; Community pool; Barbecue area; Clubhouse; Elevator; On-site laundry facilities; Dumpster

Interior

• Kitchen: Electric range
• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Living room; Primary bedroom
• Laundry & utility: Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-95 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (3.4% below list).
• Recommended offer: $145k (3.4% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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.
• Zoned schools: Hutchison Beach Elementary School (math 55% / reading 45%, grade D+, #1,070 of 2,144 statewide, top 51%, 621 students, 59% FRL); Surfside Middle School (math 58% / reading 59%, grade B, #148 of 571 statewide, top 26%, 843 students, 48% FRL); J.R. Arnold High School (math 41% / reading 54%, grade D, #204 of 667 statewide, top 31%, 1,617 students, 36% FRL) — zoned schools at 48% FRL track the district average.
• Market conditions: Rents soft (-0.2%/yr); 705 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $41k; list at $150k implies a 266% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,816 (3.4% 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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?
8. 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.
9. 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.
10. 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: 0.97% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.72%
• DSCR: 0.88
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.9%
• Equity multiple: 0.18×
• Total profit: $-34,453
• Equity at exit: $22,351

10-year hold

• IRR: -37.4%
• Equity multiple: -0.28×
• Total profit: $-53,616
• Equity at exit: $12,961

Cash invested: $41,972 (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 32407

• Home prices YoY: -29.5%
• Rents YoY: -0.2%
• Active inventory: 705
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,448 high
• Mortgage (P&I): −$786
• Tax from tax record: −$39 /mo · $465/yr
• Insurance: −$62
• HOA est. from 4 same-building comps: −$352
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $-95

Break-even live

Break-even rent $1,569

Max offer price $133,077

Occupancy floor —

Sensitivity live

Price	-10% $-10	-5% $-53	+0% $-95	+5% $-138	+10% $-180
Rent	-10% $-210	-5% $-152	+0% $-95	+5% $-38	+10% $19
Rate	-1.0pp $-20	-0.5pp $-57	base $-95	+0.5pp $-134	+1.0pp $-174

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
509 Lighthouse Rd Panama City Beach, FL	2.0	2.0	965	$1,500	$1.55	22d	1	0.26mi
900 Clara Ave Panama City Beach, FL	1.0–3.0	1.0–2.0	1134	$1,425	$1.26	15d	15	0.43mi
1105 Clara Ave Panama City Beach, FL	3.0	1.0–2.0	938	$1,626	$1.73	15d	14	0.44mi
505 Anemone St Unit 1511627P Panama City Beach, FL	2.0	2.0	990	$3,929	$3.97	22d	1	0.64mi
15817 Front Beach Rd Unit 1523369P Panama City Beach, FL	1.0	2.0	839	$5,602	$6.68	15d	1	0.68mi
231 Poinsettia Dr Unit A Panama City Beach, FL	2.0	2.0	840	$1,500	$1.79	22d	1	0.74mi
302 Cabana Blvd Panama City Beach, FL	1.0–3.0	1.0–2.0	1184	$1,293	$1.09	15d	15	1.22mi
201 Hills Rd Panama City Beach, FL	1.0–2.0	1.0–2.0	994	$1,550	$1.56	22d	20	1.29mi

HOA detail condo

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

Listing history 6 events

1. 2026-06-21
   days on market $149,900 Active 6 DOM
2. 2026-06-19
   days on market $149,900 Active 4 DOM
3. 2026-06-18
   days on market $149,900 Active 3 DOM
4. 2026-06-17
   days on market $149,900 Active 2 DOM
5. 2026-06-16
   remarks 699-char remark
6. 2026-06-16
   listed $149,900 Active 1 DOM

ⓘ 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: $465 · $39/mo
• Projected year-2 tax: $1,244 · $104/mo
• Expected delta: +$779/yr (+$65/mo · 167.7%)

ⓘ 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 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $17,378
• − Mortgage interest: −$8,397
• − Property taxes: −$465
• − Insurance: −$750
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − HOA: −$4,224
• − Depreciation: −$4,361
• Taxable loss: −$3,598
• Est. tax savings @ 24.0%: +$864
• After-tax cash flow: $-279/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): 16,404
• Household income: $80,831
• Rent vs Own: 43.6% rent · 56.4% own
• Severe rent burden: 939.0

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 (73%)
• Race & ethnicity: White 73% Black 10% Two or more races 9% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Lithuanian 4% Italian 3% Portuguese 2%
• Foreign-born: 12% · Canada, Jamaica, South Korea
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -116.39%
• Current HPI: 277.8875
• Rent YoY: ▼ -0.25%
• 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

+265.6% since first listed

2 events — show timeline

• 2026-06-15 Listed $149,900 CPARMLS
• 1994-03-01 Sold (Public Records) $41,000 Public Records

Property tax history

+12.8%/yr

Latest (2025): $465 · +7.4% YoY. Source: county tax records.