Panama city beach income numbers

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Panama city beach income numbers

Leah Gober
Member since 2022 · 10 posts · 11 votes

Hi BP members,

I have been researching the short term market and always go back to Panama City beach as the one to invest in. I found an interesting article with numbers attached. If anyone has any feedback, I would greatly appreciate it. The numbers they produce are awesome and I can make them work. What is everyone's experience on this?https://ziavacationrentals.com...

Thank you in advance!

Actual Income Produced Arrivals in 2021

PropertyUnit SizeGross Income, Includes taxes and FeesGross Income Without Taxes and Fees – Nightly Rates Only
Aqua3BD/3BA$130,921.93$96,395.42
Calypso2BD/2BA$96,914.9667,570.30
Grand Panama Tower II1BD/2BA$75,763.82$52,048.59
Laketown Wharf1BD/2BA$67,669.85$47,714.70
Laketown Wharf2BD/2BA87,500.56$58,525.77
Laketown Wharf3BD/3BA$114,265.21$81,700.13
Majestic Towers1BD/1BA$69,963.14$42,857.63
Majestic Towers3BD/2BA$100,855.01$70,292.53
Majestic Towers4BD/3BA$114,398.28$81,236.13
Ocean Reef4BD/4BA$121,642.11$84,965.42
Shores Of Panama1BD/2BA$68,998.05$46,165.82
Sterling Breeze1BD/2BA$69,103.59$47,055.21
Tidewater1BD/2BA$69,486.07$47,464.60
Tidewater2BD/3BA$89,685.63$60,861.18
Tidewater3BD/3BA$117,059.60$88,088.77
Stearling Breeze1BD/2BA$69,103.59$47,055.21
Private Home3BD/3BA$115,249.06$84,818.68
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Jeff Costa
Member since 2021 · 166 posts · 113 votes
4y

Anyone interested in forming a small PCB buyer's group to review deals and learn?

9Reply
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  • Kevin Pillow
    Realtor · OK · Member since 2020 · 139 posts · 165 votes
    4y

    I’ll send you a DM with some numbers that we use but PCB is doing great ADRs with double digit growth in some areas closer to the water. The biggest thing about the area is you can get a single family home with 3+ Beds for under $600k. If you want that in Destin it’s going to be in the $800k+ range.

    1Reply
  • Trent Reeve
    Atlanta · Member since 2022 · 712 posts · 642 votes
    4y

    i would question those numbers a little. they are likely taking nightly numbers, and estimating it over all 12 months. properties arent going to rent or stay full all 12 months. 

    1Reply
  • Leah Gober
    OP
    Member since 2022 · 10 posts · 11 votes
    4y
    Quote from @Kevin Pillow:

    I’ll send you a DM with some numbers that we use but PCB is doing great ADRs with double digit growth in some areas closer to the water. The biggest thing about the area is you can get a single family home with 3+ Beds for under $600k. If you want that in Destin it’s going to be in the $800k+ range.


     That would be great, Kevin! I appreciate your help!

    0Reply
  • Leah Gober
    OP
    Member since 2022 · 10 posts · 11 votes
    4y
    Quote from @Trent Reeve:

    i would question those numbers a little. they are likely taking nightly numbers, and estimating it over all 12 months. properties arent going to rent or stay full all 12 months. 


    Thank you for your input, Trent! I did contact them to understand the numbers better and the posted numbers are the ones over the length of a full year worth of income produced for these complexes with the summer being the high season and the winter the slowest season. It seems very intriguing as the market seems to be cooling off and from what I was told there will be lots of new inventory flooding the market in the next couple of months. I am going to get my ducks in a row, so I can get preapproved for a loan and jump right in. I feel confident with the PCB market that over an extended period of time it will be a very beneficial investment.

    Thanks again!

    1Reply
  • Trent Reeve
    Atlanta · Member since 2022 · 712 posts · 642 votes
    4y
    Quote from @Leah Gober:
    Quote from @Trent Reeve:

    i would question those numbers a little. they are likely taking nightly numbers, and estimating it over all 12 months. properties arent going to rent or stay full all 12 months. 


    Thank you for your input, Trent! I did contact them to understand the numbers better and the posted numbers are the ones over the length of a full year worth of income produced for these complexes with the summer being the high season and the winter the slowest season. It seems very intriguing as the market seems to be cooling off and from what I was told there will be lots of new inventory flooding the market in the next couple of months. I am going to get my ducks in a row, so I can get preapproved for a loan and jump right in. I feel confident with the PCB market that over an extended period of time it will be a very beneficial investment.

    Thanks again!


    yes, i am very new myself. doing a lot of research, looking for 1st property. I think i will get something close in Atlanta, a SFH, to start with. I personally will be looking at Myrtle Beach more than PCB. While PCB is busy, I feel there is more going on in Myrtle (a lot of different events happen there and near there). now, the numbers may say PCB is better, so when the time comes I will have to review them closely.

    0Reply
  • Jon Martin
    Member since 2022 · 1k+ posts · 1k+ votes
    4y

    How does PCB do in the winter months? Is it to cool up that way to get the kind of traffic that southern Florida gets?

    0Reply
  • Jeff Costa
    Member since 2021 · 166 posts · 113 votes
    4y

    Anyone interested in forming a small PCB buyer's group to review deals and learn?

    9Reply
  • Kevin Pillow
    Realtor · OK · Member since 2020 · 139 posts · 165 votes
    4y
    2Reply
  • Jamie Hoth
    Rental Property Investor · Marion, IA · Member since 2020 · 14 posts · 10 votes
    4y

    I recently closed on a unit in the Shores of Panama a 2 BD/2B it has only been a few months but so far it is going great.

    3Reply
  • Leah Gober
    OP
    Member since 2022 · 10 posts · 11 votes
    4y
    Quote from @Jon Martin:

    How does PCB do in the winter months? Is it to cool up that way to get the kind of traffic that southern Florida gets?


     Hi Jonathan,

    From what I understood PCB is busy year round, the winter months are occupied by snowbirds for extended periods, rather than short terms and the rates are not as high as the summer ones.

    1Reply
  • Leah Gober
    OP
    Member since 2022 · 10 posts · 11 votes
    4y
    Quote from @Jamie Hoth:

    I recently closed on a unit in the Shores of Panama a 2 BD/2B it has only been a few months but so far it is going great.


     Hi Jamie,

    Thanks for sharing your feedback! I am so glad your unit is doing well! Shores is one of the complexes I am also looking at, have you heard anything about the huge assessment they may add to the owners? This is my only concern I have, as I was warned about it.

    0Reply
  • Leah Gober
    OP
    Member since 2022 · 10 posts · 11 votes
    4y
    Quote from @Jeff Costa:

    Anyone interested in forming a small PCB buyer's group to review deals and learn?


     100%!

    1Reply
  • Kevin Pillow
    Realtor · OK · Member since 2020 · 139 posts · 165 votes
    4y
    Quote from @Jamie Hoth:

    I recently closed on a unit in the Shores of Panama a 2 BD/2B it has only been a few months but so far it is going great.


     I think people are in disbelief/skeptical when we tell them how well they can do, especially if they self manage. I'm glad you pulled the trigger!

    1Reply
  • Jamie Hoth
    Rental Property Investor · Marion, IA · Member since 2020 · 14 posts · 10 votes
    4y

    Thanks! We another unit in Indian Shores near Clearwater and we started looking down there but could not find anything in the price range we had to work with. We eventually were told to go to Panama City and you will get way more bang for your buck. They seemed to be correct.

    2Reply
  • Kevin Pillow
    Realtor · OK · Member since 2020 · 139 posts · 165 votes
    4y
    Quote from @Jamie Hoth:

    Thanks! We another unit in Indian Shores near Clearwater and we started looking down there but could not find anything in the price range we had to work with. We eventually were told to go to Panama City and you will get way more bang for your buck. They seemed to be correct.

    To add to what you said about "bang for your buck", this is a recent article from AirDNA on the most popular places people visited for 4th of July 2022. The emerald coast had 2 of the top 10 spots, Panama City Beach and Santa Rosa/30A. Here is the link https://www.airdna.co/blog/air...

    6Reply
  • Jeff Costa
    Member since 2021 · 166 posts · 113 votes
    4y

    @Leah Gober and anyone else: I was thinking a "tabletop" exercise would be interesting. I'm looking to buy in PCB in the off season, so not fishing in the same pond yet. It would be great to run some properties through spreadsheets and talk about the line items.

    2Reply
  • Leah Gober
    OP
    Member since 2022 · 10 posts · 11 votes
    4y

    Hi Jeff,

    My goal is to be very present in the wonderful community and share what I learn through the process of my acquisition of multiple properties in PCB. I understand how essential is to partner with the right individuals who are transparent and have done it already. Thank you for everyone's wisdom on that matter!

    2Reply
  • Ivan A.
    New to Real Estate · NJ - NY · Member since 2021 · 5 posts · 5 votes
    4y

    @Jeff Costa same here! Would love to join the exercise

    0Reply
  • Kerry BairdPro Member
    Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes
    4y

    My properties are in the Space Coast, opposite site of Florida from Clearwater.  Over the three years I have done STRs my bookings slow down a bit in Sept and Oct and pick back up again in November.  The rest of the year stays pretty full.

    1Reply
  • Jossalyn Wallace
    Real Estate Agent · Destin, FL · Member since 2019 · 116 posts · 111 votes
    4y

    Hi! I am a realtor and investor on the FL Panhandle and PCB is one of our best STR markets. We have low vacancy even in off season and people pay a premium to vacation here. I would consider a townhome as well! I have on offered at 650k that does about 75k. There was also another one listed recently at 725k that was clearing 100k a year. Anything off a Front Beach Road generally speaking does pretty well and lower HOA fees!

    4Reply
  • Chris Webb
    Investor · Central Virginia · Member since 2020 · 394 posts · 253 votes
    4y

    Hi @Leah Gober, thanks for sharing. I am looking to invest in PCB and the surrounding areas within the next year. I am happy you shared this chart and started this tread. Take care, Chris. 

    0Reply
  • Leah Gober
    OP
    Member since 2022 · 10 posts · 11 votes
    4y
    Quote from @Chris Webb:

    Hi @Leah Gober, thanks for sharing. I am looking to invest in PCB and the surrounding areas within the next year. I am happy you shared this chart and started this tread. Take care, Chris. 


    Thank you for the kind message, Chris! I devoted a lot of time doing tons of research and have narrowed it down after talking to the guys who posted these numbers. They were extremely knowledgeable and know all complexes inside and out, so based on their advice I am putting in an offer on a couple of places next week as it seems like a win win! I am so ready to finally pull the trigger! Wish me luck!

    2Reply
  • Leah Gober
    OP
    Member since 2022 · 10 posts · 11 votes
    4y
    Quote from @Jossalyn Wallace:

    Hi! I am a realtor and investor on the FL Panhandle and PCB is one of our best STR markets. We have low vacancy even in off season and people pay a premium to vacation here. I would consider a townhome as well! I have on offered at 650k that does about 75k. There was also another one listed recently at 725k that was clearing 100k a year. Anything off a Front Beach Road generally speaking does pretty well and lower HOA fees!


     Thank you for your input, Jossalyn! Can you share the listings, I can review?

    0Reply
  • Cody Smith
    Realtor · Panama City Beach, FL · Member since 2018 · 122 posts · 63 votes
    2y

    I just discovered this thread, did you ever end up purchasing a PCB condo @Leah Gober?


    0Reply
  • Audrey X.
    Rental Property Investor · Atlanta, GA · Member since 2018 · 41 posts · 29 votes
    2y

    @Jossalyn Wallace

    Hi Jossalyn! I'm looking at a SFH in PCB and would like to connect! I'm based in Metro Atlanta. Would love to network with local investors down there and get some advice on STR insurance and management etc.

    0Reply
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