3207 E 2nd Pl · Springfield, FL 32401

$175,000

3 bd · 2.0 ba · 902 sqft · Land · 430 Days on market

Built 2026 3,049 sqft lot $194/sqft · at area comps Est $183k · at est. ↓ 15% 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 +11.6/30.0
• ARV discount +9.5/15.0
• Schools +4.3/10.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

;; PRICE REPOSITIONED - EXCEPTIONAL OPPORTUNITY ; ; Recently repositioned to a highly competitive price, this brand-new 3BR/2BA home offers exceptional value for both investors and first-time homebuyers. Price reflects one unit (half duplex). Whether for a primary residence or rental investment, this property delivers new construction quality at a price point rarely seen in today's market. Built with 2x6 exterior walls, 9-ft ceilings, and double-insulated 8-inch dividing walls for superior durability, efficiency, and sound control. Features include waterproof 12-mil LVP flooring, plywood cabinetry, quartz countertops, and modern fixtures. Fully sodded lot with concrete driveway (2 vehicles). Located near Tyndall AFB, schools, shopping, and beaches--ideal for both living and rental demand. Opportunities at this price point in new construction are extremely limited. Builder willing to consider incentives for multiple unit purchases. Easy to show.

Key facts

• 3,049 sq ft lot
• Built 2026
• Listed 430 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $175k.

Deal economics

• At list price, monthly cash flow is $-56 ($-671/yr) — negative.
• To cash-flow at today's rent, offer at most $167k (4.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (16.6% below list).
• Recommended offer: $146k (16.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.7% in Springfield — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 261 active listings in the ZIP; 13 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 33% 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 $1k of loan paydown is wiped out by about $5k 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 430 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.

Recommended offer $146,013 (16.6% 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 430 days. Have you received any prior offers? Is the seller open to a 17% 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 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 5.91%
• Cash-on-cash: -1.37%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (median comp): $183,195
• List price: $175,000
• Delta: -4.47%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.45% rent growth · sell at horizon

5-year hold

• IRR: -21.4%
• Equity multiple: 0.27×
• Total profit: $-35,548
• Equity at exit: $26,093

10-year hold

• IRR: -22.5%
• Equity multiple: -0.01×
• Total profit: $-49,693
• Equity at exit: $15,131

Cash invested: $49,000 (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: 261
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,460 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-56

Break-even live

Break-even rent $1,531

Max offer price $166,914

Occupancy floor 99%

Sensitivity live

Price	-10% $65	-5% $5	+0% $-56	+5% $-116	+10% $-177
Rent	-10% $-171	-5% $-114	+0% $-56	+5% $2	+10% $59
Rate	-1.0pp $32	-0.5pp $-11	base $-56	+0.5pp $-101	+1.0pp $-147

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
237 Helen Ave Panama City, FL	2.0	2.0	1000	$1,395	$1.40	22d	1	0.33mi
3719 E 8th Ct Panama City, FL	1.0–4.0	1.0–1.5	950	$1,300	$1.37	22d	1	1.09mi
4905 Alameda St Unit 1 Panama City, FL	3.0	2.0	942	$1,295	$1.37	22d	1	1.12mi
149 North Highway 22 A Unit 5 Panama City, FL	2.0	1.0	900	$1,140	$1.27	14d	1	1.15mi
725 Sherman Ave Unit B Panama City, FL	3.0	1.0	878	$1,250	$1.42	22d	1	1.18mi
208 North Highway 22 A Unit 33 Panama City, FL	3.0	2.0	1080	$1,350	$1.25	22d	1	1.24mi
5101 Willow St Panama City, FL	3.0	2.0	1099	$1,500	$1.36	14d	1	1.26mi
4837 S Lakewood Dr Panama City, FL	2.0	1.5	1116	$1,500	$1.34	22d	1	1.29mi
3914 E 11th St #301 Panama City, FL	2.0	2.0	864	$1,000	$1.16	22d	1	1.39mi
4828 Grimes St #3 Panama City, FL	2.0	1.0	850	$1,150	$1.35	22d	1	1.41mi
543 N 9th St Unit 543 Panama City, FL	2.0	1.0	850	$1,195	$1.41	14d	1	1.43mi
4480 East Highway 98 Unit 1 Panama City, FL	2.0	1.5	972	$1,250	$1.29	22d	1	1.48mi
4480 E Highway 98 Panama City, FL	2.0	1.0	972	$1,250	$1.29	22d	1	1.48mi

Listing history 24 events

1. 2026-06-21
   days on market $175,000 Active 430 DOM
2. 2026-06-19
   days on market $175,000 Active 428 DOM
3. 2026-06-18
   days on market $175,000 Active 427 DOM
4. 2026-06-17
   days on market $175,000 Active 426 DOM
5. 2026-06-16
   days on market $175,000 Active 425 DOM
6. 2026-06-15
   days on market $175,000 Active 424 DOM
7. 2026-06-14
   days on market $175,000 Active 422 DOM
8. 2026-06-13
   days on market $175,000 Active 421 DOM
9. 2026-06-10
   days on market $175,000 Active 419 DOM
10. 2026-06-09
    days on market $175,000 Active 418 DOM
11. 2026-06-08
    days on market $175,000 Active 417 DOM
12. 2026-06-07
    days on market $175,000 Active 416 DOM
13. 2026-06-05
    days on market $175,000 Active 413 DOM
14. 2026-06-03
    pricedays on market $175,000 Active 412 DOM
15. 2026-06-03
    price $176,000 Active 411 DOM
16. 2026-06-02
    days on market $178,000 Active 411 DOM
17. 2026-06-01
    days on market $178,000 Active 410 DOM
18. 2026-05-31
    days on market $178,000 Active 409 DOM
19. 2026-05-30
    days on market $178,000 Active 408 DOM
20. 2026-05-01
    price $182,900 961-char remark

    Show marketing remark (961 chars)

    ;; PRICE REPOSITIONED - EXCEPTIONAL OPPORTUNITY ; ; Recently repositioned to a highly competitive price, this brand-new 3BR/2BA home offers exceptional value for both investors and first-time homebuyers. Price reflects one unit (half duplex). Whether for a primary residence or rental investment, this property delivers new construction quality at a price point rarely seen in today's market. Built with 2x6 exterior walls, 9-ft ceilings, and double-insulated 8-inch dividing walls for superior durability, efficiency, and sound control. Features include waterproof 12-mil LVP flooring, plywood cabinetry, quartz countertops, and modern fixtures. Fully sodded lot with concrete driveway (2 vehicles). Located near Tyndall AFB, schools, shopping, and beaches--ideal for both living and rental demand. Opportunities at this price point in new construction are extremely limited. Builder willing to consider incentives for multiple unit purchases. Easy to show.

21. 2026-03-18
    price $189,000 961-char remark

    Show marketing remark (961 chars)

    ;; PRICE REPOSITIONED - EXCEPTIONAL OPPORTUNITY ; ; Recently repositioned to a highly competitive price, this brand-new 3BR/2BA home offers exceptional value for both investors and first-time homebuyers. Price reflects one unit (half duplex). Whether for a primary residence or rental investment, this property delivers new construction quality at a price point rarely seen in today's market. Built with 2x6 exterior walls, 9-ft ceilings, and double-insulated 8-inch dividing walls for superior durability, efficiency, and sound control. Features include waterproof 12-mil LVP flooring, plywood cabinetry, quartz countertops, and modern fixtures. Fully sodded lot with concrete driveway (2 vehicles). Located near Tyndall AFB, schools, shopping, and beaches--ideal for both living and rental demand. Opportunities at this price point in new construction are extremely limited. Builder willing to consider incentives for multiple unit purchases. Easy to show.

22. 2026-03-01
    price $198,000 961-char remark

    Show marketing remark (961 chars)

    ;; PRICE REPOSITIONED - EXCEPTIONAL OPPORTUNITY ; ; Recently repositioned to a highly competitive price, this brand-new 3BR/2BA home offers exceptional value for both investors and first-time homebuyers. Price reflects one unit (half duplex). Whether for a primary residence or rental investment, this property delivers new construction quality at a price point rarely seen in today's market. Built with 2x6 exterior walls, 9-ft ceilings, and double-insulated 8-inch dividing walls for superior durability, efficiency, and sound control. Features include waterproof 12-mil LVP flooring, plywood cabinetry, quartz countertops, and modern fixtures. Fully sodded lot with concrete driveway (2 vehicles). Located near Tyndall AFB, schools, shopping, and beaches--ideal for both living and rental demand. Opportunities at this price point in new construction are extremely limited. Builder willing to consider incentives for multiple unit purchases. Easy to show.

23. 2025-12-10
    price $210,000 961-char remark

    Show marketing remark (961 chars)

    ;; PRICE REPOSITIONED - EXCEPTIONAL OPPORTUNITY ; ; Recently repositioned to a highly competitive price, this brand-new 3BR/2BA home offers exceptional value for both investors and first-time homebuyers. Price reflects one unit (half duplex). Whether for a primary residence or rental investment, this property delivers new construction quality at a price point rarely seen in today's market. Built with 2x6 exterior walls, 9-ft ceilings, and double-insulated 8-inch dividing walls for superior durability, efficiency, and sound control. Features include waterproof 12-mil LVP flooring, plywood cabinetry, quartz countertops, and modern fixtures. Fully sodded lot with concrete driveway (2 vehicles). Located near Tyndall AFB, schools, shopping, and beaches--ideal for both living and rental demand. Opportunities at this price point in new construction are extremely limited. Builder willing to consider incentives for multiple unit purchases. Easy to show.

24. 2025-04-17
    listed $215,000 Active 961-char remark

    Show marketing remark (961 chars)

    ;; PRICE REPOSITIONED - EXCEPTIONAL OPPORTUNITY ; ; Recently repositioned to a highly competitive price, this brand-new 3BR/2BA home offers exceptional value for both investors and first-time homebuyers. Price reflects one unit (half duplex). Whether for a primary residence or rental investment, this property delivers new construction quality at a price point rarely seen in today's market. Built with 2x6 exterior walls, 9-ft ceilings, and double-insulated 8-inch dividing walls for superior durability, efficiency, and sound control. Features include waterproof 12-mil LVP flooring, plywood cabinetry, quartz countertops, and modern fixtures. Fully sodded lot with concrete driveway (2 vehicles). Located near Tyndall AFB, schools, shopping, and beaches--ideal for both living and rental demand. Opportunities at this price point in new construction are extremely limited. Builder willing to consider incentives for multiple unit purchases. Easy to show.

ⓘ 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: $17,522
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,402
• − Management: −$1,402
• − Depreciation: −$5,091
• Taxable loss: −$3,676
• Est. tax savings @ 24.0%: +$882
• After-tax cash flow: $212/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

-14.9% since first listed

5 events — show timeline

• 2026-05-01 Price Changed $182,900 CPARMLS
• 2026-03-18 Price Changed $189,000 CPARMLS
• 2026-03-01 Price Changed $198,000 CPARMLS
• 2025-12-10 Price Changed $210,000 CPARMLS
• 2025-04-17 Listed $215,000 CPARMLS

Property tax history

+107.9%/yr

Latest (2025): $318 · +107.9% YoY. Source: county tax records.