5876 Tyndall Pl · Callaway, FL 32404

$224,900

3 bd · 2.5 ba · 1,554 sqft · Land · 96 Days on market

Built 2026 $145/sqft · 8% below area Est $244k · 8% under ↓ 10% since listing

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Why this score? — see what drove the D 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 +11.1/30.0
• ARV discount +11.0/15.0
• Schools +4.3/10.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Community closeout! Only 3 remaining! NEW construction opportunity awaits in this classy 3 bedroom, 2 ½ bath townhome with its own one car garage. Features include ColorPlus Hardiboard siding, 9' ceilings, quartz countertops, tray ceilings, and fans in the living and primary bedroom. With clean lines and attention to detail, the Towne is sure to impress. You'll enjoy all Panama City has to offer with its white, sandy beaches, tourist attractions, shopping, and savory restaurants. Your new townhome provides the perfect work/life balance and is within miles of Tyndall Air Force Base. Whether you are a savvy investor or first-time home buyer, we know you'll enjoy the satisfaction and warranty that comes from owning a brand new home! Need a place for Fido? Take your pup to play in the community dog park and meet some neighbors while you're there. Call now for your tour! March completion date.

Key facts

• Quartz countertops
• Community dog park
• Garage

Tags

• COLORPLUS HARDIBOARD SIDING
• QUARTZ COUNTERTOPS
• COMMUNITY DOG PARK

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $225k.

Deal economics

• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (5.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (17.7% below list).
• Recommended offer: $185k (17.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#690 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, amenities 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; 21 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.

Negotiation context

• It's been on market 96 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.

Recommended offer $185,036 (17.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 96 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.76%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

• ARV (median comp): $243,952
• List price: $224,900
• Delta: -7.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -21.3%
• Equity multiple: 0.27×
• Total profit: $-45,740
• Equity at exit: $33,533

10-year hold

• IRR: -20.0%
• Equity multiple: 0.03×
• Total profit: $-60,874
• Equity at exit: $19,445

Cash invested: $62,972 (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: 10.1×

Monthly cashflow live

• Estimated rent: $1,850 high
• Mortgage (P&I): −$1,179
• Tax est. 1.5%: −$281 /mo · $3,374/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $-92

Break-even live

Break-even rent $1,967

Max offer price $211,522

Occupancy floor 100%

Sensitivity live

Price	-10% $63	-5% $-15	+0% $-92	+5% $-170	+10% $-248
Rent	-10% $-239	-5% $-166	+0% $-92	+5% $-19	+10% $54
Rate	-1.0pp $21	-0.5pp $-35	base $-92	+0.5pp $-151	+1.0pp $-210

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5817 Jasmine Ct Panama City, FL	4.0	2.5	1633	$2,000	$1.22	14d	1	0.06mi
420 Raven Ln Panama City, FL	3.0	2.0	1251	$1,750	$1.40	22d	1	0.10mi
229 Callaway Chase Ln Panama City, FL	3.0	2.5	1200	$1,650	$1.38	14d	1	0.22mi
526 Camellia Ave Panama City, FL	3.0	2.0	1375	$1,950	$1.42	22d	1	0.35mi
6121 Harvey St Unit 8 Panama City, FL	2.0	1.5	1200	$1,050	$0.88	22d	1	0.38mi
6101 Harvey St #3 Panama City, FL	2.0	1.5	1108	$1,050	$0.95	22d	1	0.38mi
5101 Willow St Panama City, FL	3.0	2.0	1099	$1,500	$1.36	14d	1	0.64mi
208 North Highway 22 A Unit 33 Panama City, FL	3.0	2.0	1080	$1,350	$1.25	22d	1	0.72mi
129 Seneca Ave Panama City, FL	3.0	2.0	1449	$1,495	$1.03	14d	1	0.72mi
114 S Kimbrel Ave Panama City, FL	3.0	2.0	1400	$1,850	$1.32	22d	1	0.82mi
163 Lauren Ln Panama City, FL	4.0	2.0	1731	$2,300	$1.33	22d	1	0.83mi
175 N Berthe Ave Panama City, FL	4.0	2.0	1498	$2,195	$1.47	14d	1	0.92mi
6328 Olokee St Panama City, FL	3.0	2.0	1131	$1,850	$1.64	14d	1	0.99mi
116 Christie Ln Panama City, FL	3.0	2.0	1092	$1,550	$1.42	22d	1	1.00mi
906 Kevin Ct Panama City, FL	3.0	2.0	1266	$1,795	$1.42	22d	1	1.08mi
5813 Hickory St Panama City, FL	3.0	2.0	1200	$1,950	$1.62	22d	1	1.13mi
509 Phillips Ct Panama City, FL	3.0	2.0	1411	$1,700	$1.20	14d	1	1.23mi
5717 Rebecca Ct Unit B Panama City, FL	2.0	1.0	1612	$1,350	$0.84	22d	1	1.26mi
4141 E 15th St Panama City, FL	2.0–3.0	2.0	1082	$1,825	$1.69	14d	9	1.35mi
4837 S Lakewood Dr Panama City, FL	2.0	1.5	1116	$1,500	$1.34	22d	1	1.36mi
263 Nelle Ave Panama City, FL	3.0	2.0	1294	$1,690	$1.31	22d	1	1.48mi

Listing history 11 events

1. 2026-06-07
   statusdays on market $224,900 Pending 96 DOM
2. 2026-06-05
   days on market $224,900 Active 95 DOM
3. 2026-06-03
   days on market $224,900 Active 94 DOM
4. 2026-06-02
   days on market $224,900 Active 93 DOM
5. 2026-06-01
   days on market $224,900 Active 92 DOM
6. 2026-05-31
   days on market $224,900 Active 91 DOM
7. 2026-05-30
   days on market $224,900 Active 90 DOM
8. 2026-05-12
   price $224,900 910-char remark

   Show marketing remark (910 chars)

   Community closeout! Only 3 remaining! NEW construction opportunity awaits in this classy 3 bedroom, 2 ½ bath townhome with its own one car garage. Features include ColorPlus Hardiboard siding, 9' ceilings, quartz countertops, tray ceilings, and fans in the living and primary bedroom. With clean lines and attention to detail, the Towne is sure to impress. You'll enjoy all Panama City has to offer with its white, sandy beaches, tourist attractions, shopping, and savory restaurants. Your new townhome provides the perfect work/life balance and is within miles of Tyndall Air Force Base. Whether you are a savvy investor or first-time home buyer, we know you'll enjoy the satisfaction and warranty that comes from owning a brand new home! Need a place for Fido? Take your pup to play in the community dog park and meet some neighbors while you're there. Call now for your tour! March completion date.

9. 2026-05-05
   price $232,850 910-char remark

   Show marketing remark (910 chars)

   Community closeout! Only 3 remaining! NEW construction opportunity awaits in this classy 3 bedroom, 2 ½ bath townhome with its own one car garage. Features include ColorPlus Hardiboard siding, 9' ceilings, quartz countertops, tray ceilings, and fans in the living and primary bedroom. With clean lines and attention to detail, the Towne is sure to impress. You'll enjoy all Panama City has to offer with its white, sandy beaches, tourist attractions, shopping, and savory restaurants. Your new townhome provides the perfect work/life balance and is within miles of Tyndall Air Force Base. Whether you are a savvy investor or first-time home buyer, we know you'll enjoy the satisfaction and warranty that comes from owning a brand new home! Need a place for Fido? Take your pup to play in the community dog park and meet some neighbors while you're there. Call now for your tour! March completion date.

10. 2026-04-13
    price $239,850 910-char remark

    Show marketing remark (910 chars)

    Community closeout! Only 3 remaining! NEW construction opportunity awaits in this classy 3 bedroom, 2 ½ bath townhome with its own one car garage. Features include ColorPlus Hardiboard siding, 9' ceilings, quartz countertops, tray ceilings, and fans in the living and primary bedroom. With clean lines and attention to detail, the Towne is sure to impress. You'll enjoy all Panama City has to offer with its white, sandy beaches, tourist attractions, shopping, and savory restaurants. Your new townhome provides the perfect work/life balance and is within miles of Tyndall Air Force Base. Whether you are a savvy investor or first-time home buyer, we know you'll enjoy the satisfaction and warranty that comes from owning a brand new home! Need a place for Fido? Take your pup to play in the community dog park and meet some neighbors while you're there. Call now for your tour! March completion date.

11. 2026-02-27
    listed $249,850 Active 910-char remark

    Show marketing remark (910 chars)

    Community closeout! Only 3 remaining! NEW construction opportunity awaits in this classy 3 bedroom, 2 ½ bath townhome with its own one car garage. Features include ColorPlus Hardiboard siding, 9' ceilings, quartz countertops, tray ceilings, and fans in the living and primary bedroom. With clean lines and attention to detail, the Towne is sure to impress. You'll enjoy all Panama City has to offer with its white, sandy beaches, tourist attractions, shopping, and savory restaurants. Your new townhome provides the perfect work/life balance and is within miles of Tyndall Air Force Base. Whether you are a savvy investor or first-time home buyer, we know you'll enjoy the satisfaction and warranty that comes from owning a brand new home! Need a place for Fido? Take your pup to play in the community dog park and meet some neighbors while you're there. Call now for your tour! March completion date.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,204
• − Mortgage interest: −$12,598
• − Property taxes: −$3,374
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$6,543
• Taxable loss: −$4,987
• Est. tax savings @ 24.0%: +$1,197
• After-tax cash flow: $87/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 — Callaway

• Score: 64/100
• State rank: #690
• US rank: #14384

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Callaway, FL
• 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

-10.0% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $224,900 CPARMLS
• 2026-05-05 Price Changed $232,850 CPARMLS
• 2026-04-13 Price Changed $239,850 CPARMLS
• 2026-02-27 Listed $249,850 CPARMLS

Property tax history

+157.8%/yr

Latest (2025): $259 · -0.2% YoY. Source: county tax records.