11907 Evergreen St · Fountain, FL 32438

$174,000

3 bd · 2.0 ba · 1,216 sqft · Manufactured public records · 127 Days on market

Built 2022 0.62 ac lot $143/sqft · 77% above area

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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 +12.2/30.0
• Appreciation +7.7/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.3/10.0

Listing remarks MLS

Built in 2022, this beautifully maintained manufactured home offers modern country living on a spacious . 62-acre double lot in Fountain—over half an acre of space to enjoy! The open-concept layout features wood-look flooring, recessed lighting, and a charming beamed ceiling in the main living area. The bright kitchen includes white cabinetry, stainless steel appliances, a large island, and a cute coffee bar nook with custom shelving. The primary suite offers a private bath with a large walk-in shower and stylish finishes. Outside, the yard provides endless potential for parking, toys, gardening, or a workshop. Property includes two wells, plus an RV hookup and electric on the additional lot—perfect for extra storage or future plans!

Key facts

• Bright kitchen
• Private bath
• Spacious double lot

Tags

• SPACIOUS DOUBLE LOT
• OPEN-CONCEPT LAYOUT
• BRIGHT KITCHEN
• LARGE ISLAND
• COFFEE BAR NOOK
• PRIVATE BATH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $174k.

Deal economics

• At list price, monthly cash flow is $-36 ($-426/yr) — negative.
• To cash-flow at today's rent, offer at most $168k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (26.7% below list).
• Recommended offer: $128k (26.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: 146 active listings in the ZIP; 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (5.5% local appreciation)).
• Bay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.5% appreciation + 3.0% rent growth), your $49k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($153k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $6k; list at $174k implies a 3064% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,511 (26.7% 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 127 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
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. 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?
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: 0.73% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• GRM: 11.4

CMA / ARV

• ARV (median comp): $98,538
• List price: $174,000
• Delta: 76.58%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11811 Laurel St	0.46mi	3/2.0	1,350 (+11%)	12mo	$100,000	$74	50

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.88×
• Total profit: $42,757
• Equity at exit: $103,915

10-year hold

• IRR: 14.0%
• Equity multiple: 3.65×
• Total profit: $128,898
• Equity at exit: $183,896

Cash invested: $48,720 (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 32438

• Home prices YoY: 2.7%
• Active inventory: 146
• Price-to-rent: 11.4×

Monthly cashflow live

• Estimated rent: $1,275 medium
• Mortgage (P&I): −$912
• Tax from tax record: −$58 /mo · $695/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $-36

Break-even live

Break-even rent $1,320

Max offer price $167,727

Occupancy floor 98%

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: $43,500
• Closing costs: $5,220
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-19
   days on market $174,000 Active 127 DOM
2. 2026-06-18
   days on market $174,000 Active 126 DOM
3. 2026-06-17
   days on market $174,000 Active 125 DOM
4. 2026-06-16
   days on market $174,000 Active 124 DOM
5. 2026-06-15
   days on market $174,000 Active 123 DOM
6. 2026-06-14
   days on market $174,000 Active 121 DOM
7. 2026-06-13
   days on market $174,000 Active 120 DOM
8. 2026-06-10
   days on market $174,000 Active 118 DOM
9. 2026-06-09
   days on market $174,000 Active 117 DOM
10. 2026-06-08
    days on market $174,000 Active 116 DOM
11. 2026-06-07
    days on market $174,000 Active 115 DOM
12. 2026-06-05
    days on market $174,000 Active 112 DOM
13. 2026-06-03
    days on market $174,000 Active 111 DOM
14. 2026-06-02
    days on market $174,000 Active 110 DOM
15. 2026-06-01
    days on market $174,000 Active 109 DOM
16. 2026-05-31
    days on market $174,000 Active 108 DOM
17. 2026-05-30
    days on market $174,000 Active 107 DOM
18. 2026-03-06
    price $174,000 755-char remark

    Show marketing remark (1711 chars)

    Welcome to your own peaceful retreat in Fountain! Built in 2022, this beautifully maintained manufactured home sits on a spacious . 62-acre double lot—over half an acre—offering extra privacy, room to spread out, and added potential for future use. Inside, you'll love the bright open-concept design featuring durable wood-look flooring, recessed lighting, and a beautiful beamed ceiling that adds warmth and character to the main living space. The kitchen is the heart of the home with crisp white cabinetry, stainless steel appliances, a large center island, and an inviting layout that flows seamlessly into the dining and living areas—perfect for entertaining or everyday living. A standout feature is the charming coffee bar nook with custom shelving and a stylish accent wall, creating the perfect spot for morning routines or hosting guests. The primary suite provides a relaxing space to unwind, complete with an en-suite bath featuring modern finishes and a spacious walk-in shower. Additional bedrooms offer flexibility for guests, family, or a home office, and the home is filled with natural light throughout. Outside, enjoy wide open yard space with endless possibilities—gardening, outdoor living, parking for boats or toys, or adding a workshop. The property also includes two wells for added value and convenience. Even better, the additional lot offers electric and an RV hookup, making it ideal for visitors, storage, or future expansion. With newer construction, attractive upgrades, and the rare benefit of a double lot, this property is a fantastic opportunity to enjoy quiet country living while still being within reach of Panama City and surrounding conveniences.

19. 2026-03-06
    price $174,000 1711-char remark

    Show marketing remark (1711 chars)

    Welcome to your own peaceful retreat in Fountain! Built in 2022, this beautifully maintained manufactured home sits on a spacious . 62-acre double lot—over half an acre—offering extra privacy, room to spread out, and added potential for future use. Inside, you'll love the bright open-concept design featuring durable wood-look flooring, recessed lighting, and a beautiful beamed ceiling that adds warmth and character to the main living space. The kitchen is the heart of the home with crisp white cabinetry, stainless steel appliances, a large center island, and an inviting layout that flows seamlessly into the dining and living areas—perfect for entertaining or everyday living. A standout feature is the charming coffee bar nook with custom shelving and a stylish accent wall, creating the perfect spot for morning routines or hosting guests. The primary suite provides a relaxing space to unwind, complete with an en-suite bath featuring modern finishes and a spacious walk-in shower. Additional bedrooms offer flexibility for guests, family, or a home office, and the home is filled with natural light throughout. Outside, enjoy wide open yard space with endless possibilities—gardening, outdoor living, parking for boats or toys, or adding a workshop. The property also includes two wells for added value and convenience. Even better, the additional lot offers electric and an RV hookup, making it ideal for visitors, storage, or future expansion. With newer construction, attractive upgrades, and the rare benefit of a double lot, this property is a fantastic opportunity to enjoy quiet country living while still being within reach of Panama City and surrounding conveniences.

20. 2026-02-12
    listed $179,000 Active 755-char remark

    Show marketing remark (755 chars)

    Built in 2022, this beautifully maintained manufactured home offers modern country living on a spacious . 62-acre double lot in Fountain—over half an acre of space to enjoy! The open-concept layout features wood-look flooring, recessed lighting, and a charming beamed ceiling in the main living area. The bright kitchen includes white cabinetry, stainless steel appliances, a large island, and a cute coffee bar nook with custom shelving. The primary suite offers a private bath with a large walk-in shower and stylish finishes. Outside, the yard provides endless potential for parking, toys, gardening, or a workshop. Property includes two wells, plus an RV hookup and electric on the additional lot—perfect for extra storage or future plans!

21. 2026-02-06
    listed $179,000 Active 1711-char remark

    Show marketing remark (1711 chars)

    Welcome to your own peaceful retreat in Fountain! Built in 2022, this beautifully maintained manufactured home sits on a spacious . 62-acre double lot—over half an acre—offering extra privacy, room to spread out, and added potential for future use. Inside, you'll love the bright open-concept design featuring durable wood-look flooring, recessed lighting, and a beautiful beamed ceiling that adds warmth and character to the main living space. The kitchen is the heart of the home with crisp white cabinetry, stainless steel appliances, a large center island, and an inviting layout that flows seamlessly into the dining and living areas—perfect for entertaining or everyday living. A standout feature is the charming coffee bar nook with custom shelving and a stylish accent wall, creating the perfect spot for morning routines or hosting guests. The primary suite provides a relaxing space to unwind, complete with an en-suite bath featuring modern finishes and a spacious walk-in shower. Additional bedrooms offer flexibility for guests, family, or a home office, and the home is filled with natural light throughout. Outside, enjoy wide open yard space with endless possibilities—gardening, outdoor living, parking for boats or toys, or adding a workshop. The property also includes two wells for added value and convenience. Even better, the additional lot offers electric and an RV hookup, making it ideal for visitors, storage, or future expansion. With newer construction, attractive upgrades, and the rare benefit of a double lot, this property is a fantastic opportunity to enjoy quiet country living while still being within reach of Panama City and surrounding conveniences.

22. 2021-12-14
    historical
23. 2021-12-09
    historical
24. 2021-12-09
    historical
25. 2021-07-21
    soldstatus $5,500
26. 2021-07-20
    soldstatus $5,500
27. 2021-07-16
    listed $6,000
28. 2010-05-27
    listed $9,500
29. 2008-10-17
    listed $13,500
30. 2006-05-24
    listed $13,500
31. 2006-02-21
    soldstatus $14,000
32. 2005-09-19
    soldstatus $7,900
33. 2005-09-19
    soldstatus $7,900
34. 2003-03-31
    soldstatus $6,500

ⓘ 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: $695 · $58/mo
• Projected year-2 tax: $1,444 · $120/mo
• Expected delta: +$750/yr (+$62/mo · 107.9%)

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 19 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: $15,301
• − Mortgage interest: −$9,747
• − Property taxes: −$695
• − Insurance: −$870
• − Repairs & maintenance: −$1,224
• − Management: −$1,224
• − Depreciation: −$5,062
• Taxable loss: −$3,520
• Est. tax savings @ 24.0%: +$845
• After-tax cash flow: $419/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 — Fountain

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 4,839

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 (80%)
• Race & ethnicity: White 80% Two or more races 14% Hispanic / Latino 10% Native American 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Slovak 3% Portuguese 1%
• Foreign-born: 5% · Canada, Dominican Republic
• Languages at home: 90% English-only · Spanish 5% Arabic 3% Tagalog/Filipino 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: ▲ 5.50%
• Current HPI: 209.7768
• Rent YoY: —
• Metro: —
• 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

+2576.9% since first listed

17 events — show timeline

• 2026-03-06 Price Changed $174,000 ECAR
• 2026-03-06 Price Changed $174,000 CPARMLS
• 2026-02-12 Listed $179,000 ECAR
• 2026-02-06 Listed $179,000 CPARMLS
• 2021-12-14 Listing Removed — CPARMLS
• 2021-12-09 Listing Removed — CPARMLS
• 2021-12-09 Listing Removed — CPARMLS
• 2021-07-21 Sold (Public Records) $5,500 Public Records
• 2021-07-20 Sold (MLS) $5,500 CPARMLS
• 2021-07-16 Listed $6,000 CPARMLS
• 2010-05-27 Listed $9,500 CPARMLS
• 2008-10-17 Listed $13,500 CPARMLS
• 2006-05-24 Listed $13,500 CPARMLS
• 2006-02-21 Sold (Public Records) $14,000 Public Records
• 2005-09-19 Sold (Public Records) $7,900 Public Records
• 2005-09-19 Sold (Public Records) $7,900 Public Records
• 2003-03-31 Sold (Public Records) $6,500 Public Records

Property tax history

+22.0%/yr

Latest (2025): $695 · +4.3% YoY. Source: county tax records.