Real Estate Investing in Fountain, Florida (32438)
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Should you buy in 32438 (Fountain, FL)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 14.0% of homes vacant — above national norms.
- Elevated poverty: 27.9% poverty rate — can affect rent collection.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Fountain, FL (32438)?
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Market Analysis: 32438 Fountain
The 32438 ZIP in Fountain, FL is a local-operator market. Outside capital chasing a $162K entry has to pair deep knowledge with the discount.
Distressed markets are won on execution, not on spreadsheets. ZIP 32438 reports the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Within FL, ZIP 32438 trails on several market indicators that neighboring Bay County submarkets outperform. The gap is real and impressive enough to shape underwriting.
The 32438 ZIP's population of 4,839 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reports the need for careful underwriting.
Strategy in 32438 is an operator game, not a passive one. On the rental side, entry prices of $162K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Fountain:
Property Strategy for 32438
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $116,179 | $1,450 | 9.0% | +5.2% | $58,090 |
| 3BR | $182,514 | $1,930 | 7.6% | +5.3% | $60,838 |
Market Trends
Home Value History (with trend line)
📊 How Does 32438 Compare?
| Metric | 32438 | Fountain | Panama City, FL | Florida |
|---|---|---|---|---|
| Home Value | $161,612 | $161,612 | N/A | $374,697 |
| 5-Year CAGR | 4.7% | 4.7% | N/A | 7.4% |
| Avg Rent | $1,305 | $1,305 | N/A | - |
| Cap Rate | 6.3% | 6.3% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 32438 (Fountain, FL). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $161,612 |
| Monthly Rent | $1,305 |
| Price-to-Rent | 10.3:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 9.7% |
| Cap Rate | 6.3% |
| 5-Year IRR | 11.0% |
📈 Home Appreciation
| 1-Year | +12.1% ▲ |
| 3-Year CAGR | +1.4% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +8.8% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) is close to the estimated cap rate (6.3%). Financing this market at current rates produces a cash-on-cash return near the cap rate. Appreciation and tax benefits may still support the investment.
⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 32438
Population: 4,839
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
Is Fountain, FL suited for a house hack?
The a challenging house-hack environment in Fountain, FL reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How do experienced investors play Fountain, FL?
The best-fit strategy in Fountain, FL is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Is the tenant base reliable in Fountain, FL?
Tenant demand in Fountain, FL is solid. The local workforce $1,305/mo rents across most rental classes.
Should investors consider Fountain, FL?
With a 3.0/5 investability score, Fountain, FL ranks as a solid market for rental property investors. Median prices of $162K and rents of $1,305/mo drive the underlying numbers.
How much should I expect to pay for a home in Fountain, FL?
Expect median prices around $162K in Fountain, FL. The market has run at a 0.0% 5-year CAGR, so entry costs have been predictable.
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How 32438 ranks in Panama City, FL
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