125 N Vestavia St · Panama City Beach, FL 32413

$214,900

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 226 Days on market

Built 1977 7,710 sqft lot $160/sqft · 46% below area Est $401k · 46% 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 +7.9/10.0
• 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 MLS

3 bedroom, 2 bath mobile home with 1,344 SF on the West end of Panama City Beach. 60 x 120 lot, no HOA's, close to 30A

Key facts

• 7,710 sq ft lot
• Built 1977
• Listed 225 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $215k.

Deal economics

• At list price, monthly cash flow is $879 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
• This rent runs 42% 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 $1k of loan paydown is wiped out by about $6k 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 + 0.5% rent growth), your $60k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 226 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 26y 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.

Risks & watch-outs

• 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 $189,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 226 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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 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 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: 1.29% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.53%
• DSCR: 1.78
• GRM: 6.4

CMA / ARV

• ARV (median comp): $401,086
• List price: $214,900
• Delta: -46.42%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 N Vestavia St	0.03mi	3/2.0	1,509 (+12%)	22mo	$210,000	$139	60

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 · 0.52% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.24×
• Total profit: $14,335
• Equity at exit: $32,042

10-year hold

• IRR: 13.5%
• Equity multiple: 1.96×
• Total profit: $57,889
• Equity at exit: $18,581

Cash invested: $60,172 (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: 6.4×

Monthly cashflow live

• Estimated rent: $2,782 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$102 /mo · $1,221/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$584
• Net cashflow: $879

Break-even live

Break-even rent $1,669

Max offer price $214,900

Occupancy floor 63%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	0.55mi
17751 Panama City Beach Pkwy Unit 1523371P Panama City Beach, FL	2.0	2.0	1097	$3,862	$3.52	21d	1	0.57mi
19610 Alta Vista Dr Panama City Beach, FL	2.0	1.0	1000	$1,400	$1.40	13d	1	0.72mi
17735 Front Beach Rd Unit 1447171P Panama City Beach, FL	3.0	2.0	1227	$4,925	$4.01	21d	1	0.74mi
220 Sundial St Unit 1447107P Panama City Beach, FL	4.0	2.0	1227	$2,691	$2.19	21d	1	0.81mi
17545 Front Beach Rd Unit 1523333P Panama City, FL	2.0	2.0	1140	$6,472	$5.68	13d	1	1.04mi
127 Heather Dr Panama City Beach, FL	3.0	2.0	1297	$2,350	$1.81	13d	1	1.24mi
216 Rose Ln Unit A Panama City Beach, FL	3.0	1.0	1280	$2,175	$1.70	13d	1	1.46mi
238 Oleander Dr Unit 1462121P Panama City, FL	4.0	4.0	1732	$4,298	$2.48	13d	1	1.50mi

Listing history 32 events

1. 2026-06-19
   days on market $214,900 Active 226 DOM
2. 2026-06-18
   days on market $214,900 Active 225 DOM
3. 2026-06-17
   days on market $214,900 Active 224 DOM
4. 2026-06-16
   days on market $214,900 Active 223 DOM
5. 2026-06-15
   days on market $214,900 Active 222 DOM
6. 2026-06-14
   days on market $214,900 Active 220 DOM
7. 2026-06-13
   days on market $214,900 Active 219 DOM
8. 2026-06-10
   remarks 237-char remark
9. 2026-06-10
   pricedays on market $214,900 Active 217 DOM
10. 2026-06-09
    days on market $204,900 Active 216 DOM
11. 2026-06-08
    days on market $204,900 Active 215 DOM
12. 2026-06-07
    days on market $204,900 Active 214 DOM
13. 2026-06-05
    days on market $204,900 Active 211 DOM
14. 2026-06-03
    days on market $204,900 Active 210 DOM
15. 2026-06-02
    days on market $204,900 Active 209 DOM
16. 2026-06-01
    days on market $204,900 Active 208 DOM
17. 2026-05-31
    days on market $204,900 Active 207 DOM
18. 2026-05-30
    days on market $204,900 Active 206 DOM
19. 2026-05-04
    status Active 120-char remark

    Show marketing remark (120 chars)

    3 bedroom, 2 bath mobile home with 1,344 SF on the West end of Panama City Beach. 60 x 120 lot, no HOA's, close to 30A

20. 2026-05-03
    historical 120-char remark

    Show marketing remark (120 chars)

    3 bedroom, 2 bath mobile home with 1,344 SF on the West end of Panama City Beach. 60 x 120 lot, no HOA's, close to 30A

21. 2026-03-23
    price $204,900 120-char remark

    Show marketing remark (120 chars)

    3 bedroom, 2 bath mobile home with 1,344 SF on the West end of Panama City Beach. 60 x 120 lot, no HOA's, close to 30A

22. 2025-12-31
    price $208,000
23. 2025-12-30
    price $208,000 120-char remark

    Show marketing remark (120 chars)

    3 bedroom, 2 bath mobile home with 1,344 SF on the West end of Panama City Beach. 60 x 120 lot, no HOA's, close to 30A

24. 2025-12-10
    price $209,000 120-char remark

    Show marketing remark (120 chars)

    3 bedroom, 2 bath mobile home with 1,344 SF on the West end of Panama City Beach. 60 x 120 lot, no HOA's, close to 30A

25. 2025-12-10
    price $218,000 120-char remark

    Show marketing remark (120 chars)

    3 bedroom, 2 bath mobile home with 1,344 SF on the West end of Panama City Beach. 60 x 120 lot, no HOA's, close to 30A

26. 2025-11-27
    price $218,500 120-char remark

    Show marketing remark (120 chars)

    3 bedroom, 2 bath mobile home with 1,344 SF on the West end of Panama City Beach. 60 x 120 lot, no HOA's, close to 30A

27. 2025-11-03
    listed $219,000 Active 120-char remark

    Show marketing remark (120 chars)

    3 bedroom, 2 bath mobile home with 1,344 SF on the West end of Panama City Beach. 60 x 120 lot, no HOA's, close to 30A

28. 2025-11-03
    listed $219,000 Active

    Show marketing remark (120 chars)

    3 bedroom, 2 bath mobile home with 1,344 SF on the West end of Panama City Beach. 60 x 120 lot, no HOA's, close to 30A

29. 2022-08-30
    historical
30. 2022-06-24
    listed $170,000 Active
31. 2021-12-14
    historical
32. 2000-09-29
    listed $52,000

ⓘ 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: $1,221 · $102/mo
• Projected year-2 tax: $1,784 · $149/mo
• Expected delta: +$562/yr (+$47/mo · 46.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $33,378
• − Mortgage interest: −$12,038
• − Property taxes: −$1,221
• − Insurance: −$1,074
• − Repairs & maintenance: −$2,670
• − Management: −$2,670
• − Depreciation: −$6,252
• Taxable income: $7,452
• Est. tax owed @ 24.0%: −$1,789
• After-tax cash flow: $8,761/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

+294.0% since first listed

14 events — show timeline

• 2026-05-04 Relisted — CPARMLS
• 2026-05-03 Listing Removed — CPARMLS
• 2026-03-23 Price Changed $204,900 CPARMLS
• 2025-12-31 Price Changed $208,000 ECAR
• 2025-12-30 Price Changed $208,000 CPARMLS
• 2025-12-10 Price Changed $209,000 CPARMLS
• 2025-12-10 Price Changed $218,000 CPARMLS
• 2025-11-27 Price Changed $218,500 CPARMLS
• 2025-11-03 Listed $219,000 ECAR
• 2025-11-03 Listed $219,000 CPARMLS
• 2022-08-30 Listing Removed — CPARMLS
• 2022-06-24 Listed $170,000 CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2000-09-29 Listed $52,000 CPARMLS

Property tax history

+19.1%/yr

Latest (2025): $1,221 · +2.6% YoY. Source: county tax records.