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9900 S Thomas Dr, Panama City Beach, FL 32408, USA
Cash-flow positive, but the margin over debt service is thin.
Investment potential
Your scenario · adjust the levers below or open advanced settings to see how returns change
$58,910
$4,909/mo · at 61% occupancy & $328/night
$4,863
$405/mo after costs & mortgage
Cap rate
7%
Cash-on-cash
3.2%
DSCR
1.16
Confidence
Your assumptions
Revenue
$58,910/yr
Market avg: $58,910/yr · 61% occ · $328 ADR
Financing
$29,939/yr
Operating costs
$24,108/yr
How this property compares to similar short-term rentals nearby.
Comparable set · 50 properties
$197–$532
Median $328
31%–91%
Median 61%
$33.1K–$113.7K
Median $56.3K
178–365
Median 290
This property · $58.9K
Comparable properties (50)
Cash flow potential Medium · Appreciation potential Medium
313 days available · 224 days booked ·
274 days available · 180 days booked ·
267 days available · 190 days booked ·
277 days available · 236 days booked ·
312 days available · 195 days booked ·
287 days available · 146 days booked ·
290 days available · 204 days booked ·
299 days available · 176 days booked ·
309 days available · 163 days booked ·
347 days available · 151 days booked ·
331 days available · 165 days booked ·
242 days available · 161 days booked ·
360 days available · 230 days booked ·
270 days available · 152 days booked ·
303 days available · 169 days booked ·
304 days available · 238 days booked ·
269 days available · 159 days booked ·
309 days available · 226 days booked ·
231 days available · 137 days booked ·
255 days available · 184 days booked ·
360 days available · 218 days booked ·
299 days available · 117 days booked ·
290 days available · 166 days booked ·
284 days available · 141 days booked ·
314 days available · 153 days booked ·
318 days available · 171 days booked ·
285 days available · 164 days booked ·
264 days available · 135 days booked ·
365 days available · 202 days booked ·
365 days available · 248 days booked ·
322 days available · 153 days booked ·
267 days available · 157 days booked ·
205 days available · 164 days booked ·
178 days available · 149 days booked ·
260 days available · 153 days booked ·
320 days available · 127 days booked ·
337 days available · 168 days booked ·
289 days available · 189 days booked ·
257 days available · 118 days booked ·
267 days available · 160 days booked ·
212 days available · 142 days booked ·
319 days available · 103 days booked ·
215 days available · 136 days booked ·
254 days available · 146 days booked ·
365 days available · 196 days booked ·
182 days available · 129 days booked ·
306 days available · 126 days booked ·
312 days available · 125 days booked ·
260 days available · 151 days booked ·
286 days available · 105 days booked ·
Revenue and occupancy reflect Chalet's modeled estimates from observed booking activity for comparable active listings. Individual results vary with management, seasonality, and pricing.
Who this property is for
The same property is a great buy for one investor and a trap for another. Here's the honest read.
1031 / high-equity buyer
~$123.5K
Year-1 tax shield
Buying with cash or low leverage removes the debt-coverage problem entirely, so the thesis rests on appreciation plus a large first-year write-off. At roughly 25% of purchase price, the shield is substantial enough to carry the deal on its own.
Price-disciplined buyer
$581.2K
Break-even purchase price
The deal already breaks even at or above the Zestimate, so you don't need a discount to make the math work. Buy at asking and the numbers still hold — rare enough in Panama City Beach to be worth moving on.
DSCR cash-flow buyer
1.16
DSCR at asking
The property covers its debt service at asking but sits below the 1.20 most lenders want to see, so expect a larger down payment or a rate buy-down to get it financed. There's no margin for a soft season.
For a buyer who materially participates and qualifies for the STR tax treatment.
$123.5K
Estimated first-year deduction · range $102.5K–$140.8K
Why this matters here
At a marginal bracket, this deduction can be worth $37.9K–$52.1K in estimated federal tax saved.
This only applies if you meet the IRS material-participation tests for short-term rentals and are not using a full-service property manager.
Estimate, subject to CPA review. Cost-segregation percentages shown here are illustrative and depend on an actual study of the property.
Some states do not conform to federal bonus depreciation, so your state may not allow the same first-year treatment shown above.
Chalet can introduce a cost-segregation partner — this is not tax, legal, or financial advice.
How cash-on-cash return moves with purchase price. The marked line is break-even (1.0 DSCR).
At this price: cash-on-cash +3.2%, DSCR 1.16, cash flow $4,863/yr
| Price vs asking | Price | Cash-on-cash | DSCR | Band |
|---|---|---|---|---|
| -25% | $375,000 | 10.5% | 1.55 | Positive |
| -22% | $390,000 | 9.4% | 1.49 | Positive |
| -15% | $425,000 | 7.2% | 1.37 | Positive |
| -8% | $460,000 | 5.2% | 1.26 | Positive |
| Asking | $500,000 | 3.2% | 1.16 | Positive |
| +8% | $540,000 | 1.5% | 1.08 | Positive |
| +15% | $575,000 | 0.2% | 1.01 | At break-even |
Break-even price
$581,218
~-16% under Zestimate. Where this property reaches 1.0 DSCR and neutral cash flow.
Discount needed
−$81,218
The gap between asking and the price a cash-flow buyer can underwrite.
If refi to 5.5% in 24 mo
+$4,388/yr
Illustrative cash-flow improvement at asking price if rates fall. Planning figure, not a forecast.
Annual avg $4,909 · peaks at $8,451 in Jul
Annual avg 60% · peaks at 82% in Jul
$405/mo after all expenses
Cash to close
Down payment, closing costs, and furnishing
$145,000
Return on cash:20.6%
You qualify for STR financing
Your DSCR is 1.16 · lenders typically require 1.0+.
Get matched with 2–3 vetted STR lenders, free.
What the deal returns over the hold — including the tax shield, which is the whole point for an appreciation buyer.
Levered IRR
22.4%
over 5-yr hold, with tax shield
Equity multiple
2.2×
total proceeds vs. $145,000 invested
Projected value at exit
$638,141
year 5 · 5.0% annual appreciation
Tax shield contribution
+7.5 pts
of IRR comes from year-1 depreciation
| Year | Equity | Appreciation | Cumulative cash flow | Total value |
|---|---|---|---|---|
| Year 1 | $128,809 | $25,000 | $50,558 | $204,367 |
| Year 2 | $132,894 | $51,250 | $56,305 | $240,449 |
| Year 3 | $137,274 | $78,813 | $62,948 | $279,035 |
| Year 4 | $141,970 | $107,753 | $70,502 | $320,226 |
| Year 5 | $147,007 | $138,141 | $78,980 | $364,127 |
Projection, not a promise.
Assumes 5.0% annual appreciation, 1.5% rent growth (operating costs held flat), and that the property qualifies for short-term-rental tax treatment. The year-1 depreciation shield depends on a real cost-segregation study and your tax situation — consult a CPA.
Appreciation is the dominant driver of this return. When cash flow is negative, the deal depends on the property gaining value — it is not paying for itself from income.
Appreciation, rent growth, and financing rates are editable under Edit financials.
STR deals turn on local rules and demand that a generalist agent misses. Chalet matches you with a vetted Panama City Beach agent who knows which properties actually cash flow — and which to avoid.
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Real Estate Investment Analysis & Market Insights
Disclaimer. This page and the data presented are for informational purposes only. The information provided should not be construed as financial, legal, or investment advice. Market conditions can change rapidly, and past performance does not guarantee future results. Always consult with qualified professionals before making investment decisions.
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