808 Detroit Ave · Springfield, FL 32401

$85,000

3 bd · 1.0 ba · 1,048 sqft · SingleFamily public records · 5 Days on market

Built 1945 0.46 ac lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.3/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Build your vision on this amazing nearly half-acre, double lot property at 808 Detroit Ave in Panama City! Nestled beneath beautiful mature trees, this spacious lot offers endless potential in a convenient location close to schools, shopping, dining, and everyday amenities. Just approximately 15 minutes from the sugar-white sands of Panama City Beach and about 30 minutes from Mexico Beach, you'll enjoy easy access to some of the Gulf Coast's most loved destinations. The existing home will need significant TLC, but for the right buyer, this property presents an incredible opportunity to renovate, rebuild, or create something truly special. With plenty of space, gorgeous trees, and a desirabl

Key facts

• Half-acre property
• Convenient location
• Mature trees

Tags

• HALF-ACRE PROPERTY
• MATURE TREES
• CONVENIENT LOCATION
• EASY ACCESS TO GULF COAST

Property features AI

Finance

• HOA & community: Short-term rentals allowed

Exterior

• Utilities: Public sewer
• Home design: Single-family residence
• Construction: Metal roof; Stucco and wood siding construction
• Exterior features: Chain link and partial fencing; On-site shed(s); City street frontage (public maintained road); Zoned for single-family residential

Interior

• Bedrooms: Two bedrooms on the first floor
• Bathrooms: One full bathroom
• Heating & cooling: Wall unit cooling; Heating: see remarks
• Interior features: Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $612 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Cap rate 14.9% 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 flat; 258 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 34% of the median local income ($53k/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 $588 of loan paydown is wiped out by about $3k 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 + 0.5% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $19k; list at $85k implies a 347% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $85,000

Questions for the listing agent

1. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.77% ✓
• Cap rate: 14.93%
• Cash-on-cash: 30.84%
• DSCR: 2.37
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $184,448
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3934 E 9th St	0.30mi	3/2.0	1,050 (+0%)	24mo	$213,200	$203	62
912 Nottingham Dr	0.51mi	3/1.0	1,100 (+5%)	16mo	$150,000	$136	55
816 Forestdale Ave	0.58mi	3/1.0	1,168 (+12%)	13mo	$205,000	$176	43
116 Martin Lake Dr	0.68mi	3/1.0	1,143 (+9%)	12mo	$140,000	$122	43
927 Bonnie Dr	0.75mi	3/2.0	1,142 (+9%)	10mo	$265,000	$232	38

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 · 0.45% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 1.90×
• Total profit: $21,426
• Equity at exit: $12,674

10-year hold

• IRR: 29.0%
• Equity multiple: 3.28×
• Total profit: $54,177
• Equity at exit: $7,349

Cash invested: $23,800 (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 32401

• Home prices YoY: -32.9%
• Rents YoY: 0.5%
• Active inventory: 258
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,508 high
• Mortgage (P&I): −$446
• Tax from tax record: −$99 /mo · $1,185/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $612

Break-even live

Break-even rent $734

Max offer price $85,000

Occupancy floor 54%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3719 E 8th Ct Panama City, FL	1.0–4.0	1.0–1.5	950	$1,300	$1.37	21d	1	0.07mi
3914 E 11th St #301 Panama City, FL	2.0	2.0	864	$1,000	$1.16	21d	1	0.34mi
906 Kevin Ct Panama City, FL	3.0	2.0	1266	$1,795	$1.42	21d	1	0.58mi
1401 Transmitter Rd Unit 15 Panama City, FL	3.0	2.0	1100	$1,395	$1.27	13d	1	0.58mi
5117 E 10th St Unit D Panama City, FL	2.0	1.5	950	$1,250	$1.32	13d	1	0.75mi
5117 E 10th St Apt A Panama City, FL	2.0	1.5	936	$1,200	$1.28	13d	1	0.76mi
237 Helen Ave Panama City, FL	2.0	2.0	1000	$1,395	$1.40	21d	1	0.90mi
5115 E 14th St Unit 3 Panama City, FL	2.0	2.0	978	$1,250	$1.28	21d	1	0.97mi
4905 Alameda St Unit 1 Panama City, FL	3.0	2.0	942	$1,295	$1.37	21d	1	1.05mi
526 Camellia Ave Panama City, FL	3.0	2.0	1375	$1,950	$1.42	21d	1	1.14mi
5101 Willow St Panama City, FL	3.0	2.0	1099	$1,500	$1.36	13d	1	1.17mi
4141 E 15th St Panama City, FL	2.0–3.0	2.0	1082	$1,825	$1.69	13d	9	1.20mi
1637 N James Ave Panama City, FL	2.0	1.5	972	$1,275	$1.31	21d	1	1.24mi
208 North Highway 22 A Unit 33 Panama City, FL	3.0	2.0	1080	$1,350	$1.25	21d	1	1.26mi
2623 E 16th St Unit A Panama City, FL	3.0	2.0	1250	$1,625	$1.30	21d	1	1.29mi
149 North Highway 22 A Unit 5 Panama City, FL	2.0	1.0	900	$1,140	$1.27	13d	1	1.34mi
420 Raven Ln Panama City, FL	3.0	2.0	1251	$1,750	$1.40	21d	1	1.38mi
725 Sherman Ave Unit B Panama City, FL	3.0	1.0	878	$1,250	$1.42	21d	1	1.45mi

Listing history 3 events

1. 2026-05-21
   status Pending
2. 2026-05-16
   listed $85,000 Active
3. 1981-05-01
   soldstatus $19,000

ⓘ 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: $1,185 · $99/mo
• Projected year-2 tax: $1,185 · $99/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 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: $18,099
• − Mortgage interest: −$4,761
• − Property taxes: −$1,185
• − Insurance: −$425
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − Depreciation: −$2,473
• Taxable income: $6,359
• Est. tax owed @ 24.0%: −$1,526
• After-tax cash flow: $5,813/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

• Census place: Springfield, FL
• County: Bay County · 163,593 people
• Metro: Panama City, FL
• Population (ZIP): 18,947
• Household income: $52,523
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 935.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: White 60% Black 23% Hispanic / Latino 11% Two or more races 8% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 2%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 1% German/W. Germanic 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: ▼ -142.12%
• Current HPI: 290.3312
• Rent YoY: ▲ 0.45%
• 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

+347.4% since first listed

3 events — show timeline

• 2026-05-21 Pending — CPARMLS
• 2026-05-16 Listed $85,000 CPARMLS
• 1981-05-01 Sold (Public Records) $19,000 Public Records

Property tax history

+4.1%/yr

Latest (2025): $1,185 · +8.4% YoY. Source: county tax records.