Make the cinnamon syrup first by melting the butter and brown sugar together over low heat in a medium size pot.
Add cinnamon, vanilla and water and bring to a boil over medium-high heat then reduce quickly to low heat.
Stir occasionally and simmer for about 8-10 minutes to reduce and become a thicker syrup.
Pancakes & Vanilla Glaze
While the syrup is simmering, whisk together the pancake mix, egg, and milk. Pour the batter on a greased skillet to make about 8 pancakes and cook until golden brown on each side.
In a small bowl, whisk powdered sugar and enough milk until you get a creamy consistency.
Pour your warm cinnamon syrup and vanilla glaze on top of the cooked pancakes and enjoy.