3110 B St · Springfield, FL 32404

$140,000

3 bd · 2.0 ba · 1,776 sqft · Manufactured public records · 153 Days on market

Built 1985 0.84 ac lot $79/sqft · 37% below area Est $223k · 37% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.9/10.0
• Schools +4.3/10.0
• Livability +3.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 4 bedroom, 3 bath home with an open floor plan sitting on a huge corner lot just over 3/4 of an acre. Located only about 20 minutes from Panama City Beach, you get the perfect mix of space and convenience. Enjoy a fully covered front porch, privacy trees lining the front of the property, and a partially fenced yard with plenty of room to spread out. Out back you'll find a 20x20 shed for storage, hobbies, or workspace. Major updates already handled with a new roof in 2019 and both the septic pump and well pump replaced in 2018. All appliances convey, making this one move-in ready. One of the standout features is a bedroom with its own private entrance, perfect for a mother-in-law suite, guests, or even potential rental use. If you've been looking for space, flexibility, and a great location close to the beach, this one checks all the boxes.

Key facts

• Privacy trees
• New well pump
• New septic pump

Tags

• HUGE CORNER LOT
• FULL COVERED FRONT PATIO
• PARTIALLY FENCED YARD
• PRIVACY TREES
• NEW SEPTIC PUMP
• NEW WELL PUMP

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $639 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.8% vs local median 4.7% in Springfield — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 59/100 on livability (#826 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, employment D, crime F.
• 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: Rents rising (+1.1%/yr); 969 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 2,473 units permitted in Bay County in 2024 (559 in 5+ unit buildings).
• This rent runs 31% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Bay County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.1% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 153 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 14y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.39% ✓
• Cap rate: 11.77%
• Cash-on-cash: 19.57%
• DSCR: 1.87
• GRM: 6.0

CMA / ARV

• ARV (median comp): $222,826
• List price: $140,000
• Delta: -37.17%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3510 E Orlando Rd	0.33mi	3/2.0	1,800 (+1%)	14mo	$210,000	$117	71
3716 Haley Ln	0.27mi	3/2.0	1,998 (+12%)	11mo	$225,000	$113	58

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

Projected returns pro-forma

-3.0% appreciation · 1.12% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.37×
• Total profit: $14,392
• Equity at exit: $20,874

10-year hold

• IRR: 17.1%
• Equity multiple: 2.29×
• Total profit: $50,604
• Equity at exit: $12,105

Cash invested: $39,200 (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 32404

• Home prices YoY: -16.1%
• Rents YoY: 1.1%
• Active inventory: 969
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,949 high
• Mortgage (P&I): −$734
• Tax from tax record: −$108 /mo · $1,295/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $639

Break-even live

Break-even rent $1,140

Max offer price $140,000

Occupancy floor 62%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3525 T St Panama City, FL	3.0	2.0	1250	$1,600	$1.28	21d	1	0.15mi
3733 Avon Rd Panama City, FL	3.0	2.0	1251	$1,900	$1.52	21d	1	0.51mi
3884 Red Deer Cir Panama City, FL	4.0	2.0	1972	$2,200	$1.12	21d	1	0.53mi
2601 Avondale Ct Panama City, FL	3.0	2.5	1371	$1,700	$1.24	13d	1	0.57mi
3545 Brentwood Pl Panama City, FL	3.0	2.0	1617	$2,200	$1.36	21d	1	0.85mi
2433 Wakulla Ave Panama City, FL	4.0	2.0	1612	$1,600	$0.99	13d	1	1.33mi

Listing history 26 events

1. 2026-06-19
   days on market $140,000 Active 153 DOM
2. 2026-06-18
   days on market $140,000 Active 152 DOM
3. 2026-06-17
   days on market $140,000 Active 151 DOM
4. 2026-06-16
   days on market $140,000 Active 150 DOM
5. 2026-06-15
   days on market $140,000 Active 149 DOM
6. 2026-06-14
   days on market $140,000 Active 147 DOM
7. 2026-06-13
   days on market $140,000 Active 146 DOM
8. 2026-06-10
   days on market $140,000 Active 144 DOM
9. 2026-06-09
   days on market $140,000 Active 143 DOM
10. 2026-06-08
    days on market $140,000 Active 142 DOM
11. 2026-06-07
    days on market $140,000 Active 141 DOM
12. 2026-06-05
    days on market $140,000 Active 138 DOM
13. 2026-06-03
    days on market $140,000 Active 137 DOM
14. 2026-06-02
    days on market $140,000 Active 136 DOM
15. 2026-06-01
    days on market $140,000 Active 135 DOM
16. 2026-05-31
    days on market $140,000 Active 134 DOM
17. 2026-05-30
    days on market $140,000 Active 133 DOM
18. 2026-01-16
    listed $140,000 Active 860-char remark

    Show marketing remark (860 chars)

    Spacious 4 bedroom, 3 bath home with an open floor plan sitting on a huge corner lot just over 3/4 of an acre. Located only about 20 minutes from Panama City Beach, you get the perfect mix of space and convenience. Enjoy a fully covered front porch, privacy trees lining the front of the property, and a partially fenced yard with plenty of room to spread out. Out back you'll find a 20x20 shed for storage, hobbies, or workspace. Major updates already handled with a new roof in 2019 and both the septic pump and well pump replaced in 2018. All appliances convey, making this one move-in ready. One of the standout features is a bedroom with its own private entrance, perfect for a mother-in-law suite, guests, or even potential rental use. If you've been looking for space, flexibility, and a great location close to the beach, this one checks all the boxes.

19. 2021-12-09
    historical
20. 2018-11-27
    soldstatus $345,000
21. 2018-11-26
    soldstatus $45,000
22. 2018-07-05
    listed $50,000
23. 2016-08-12
    soldstatus $45,000
24. 2016-08-12
    soldstatus $45,000
25. 2016-01-22
    listed $59,900
26. 2012-12-14
    listed $89,900

ⓘ 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: $1,295 · $108/mo
• Projected year-2 tax: $1,295 · $108/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 21 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: $23,387
• − Mortgage interest: −$7,842
• − Property taxes: −$1,295
• − Insurance: −$700
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$4,073
• Taxable income: $5,734
• Est. tax owed @ 24.0%: −$1,376
• After-tax cash flow: $6,294/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 — Springfield

• Score: 59/100
• State rank: #826
• US rank: #20265

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Bay County · 163,593 people
• Metro: Panama City, FL
• Population (ZIP): 42,514
• Household income: $74,708
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 1218.0

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 (69%)
• Race & ethnicity: White 69% Black 12% Two or more races 10% Hispanic / Latino 9% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada, Vietnam, Mexico
• Languages at home: 90% English-only · Spanish 6% Vietnamese 1% Other Asian/Pacific 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: ▼ -50.59%
• Current HPI: 263.7178
• Rent YoY: ▲ 1.12%
• Metro: Panama City, FL
• 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

+55.7% since first listed

9 events — show timeline

• 2026-01-16 Listed $140,000 CPARMLS
• 2021-12-09 Listing Removed — CPARMLS
• 2018-11-27 Sold (Public Records) $345,000 Public Records
• 2018-11-26 Sold (MLS) $45,000 CPARMLS
• 2018-07-05 Listed $50,000 CPARMLS
• 2016-08-12 Sold (Public Records) $45,000 Public Records
• 2016-08-12 Sold (MLS) $45,000 CPARMLS
• 2016-01-22 Listed $59,900 CPARMLS
• 2012-12-14 Listed $89,900 CPARMLS

Property tax history

+3.5%/yr

Latest (2025): $1,295 · +14.7% YoY. Source: county tax records.