3701 E 5th St · Springfield, FL 32401

$134,900

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 42 Days on market

Built 2006 7,492 sqft lot Est $144k · 6% 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 +27.5/30.0
• ARV discount +10.3/15.0
• DSCR +9.6/10.0
• 1% rule +6.4/10.0
• 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

Welcome home to this 3-bedroom, 2-bath home that's truly move-in ready. You will walk into a spacious, open layout designed for comfortable living. Fresh, neutral colors throughout create a clean, inviting feel and make it easy to add your personal touch. With thoughtful updates already completed, this home is ready for its new owner to move right in and enjoy. Comfortable, and well-maintained, don't miss this opportunity!

Key facts

• 7,492 sq ft lot
• Built 2006
• Listed 42 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $398 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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 flat; 261 active listings in the ZIP; 17 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 35% 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 $933 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.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $21k; list at $135k implies a 542% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,853 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.14% ✓
• Cap rate: 9.83%
• Cash-on-cash: 12.65%
• DSCR: 1.56
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $144,000
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3735 E 6th St	0.17mi	3/2.0	1,196 (+4%)	0mo	$149,999	$125	85
309 Bayou Ave	0.28mi	3/2.0	1,140 (-1%)	3mo	$125,000	$110	83
707 Sanders Ln	0.30mi	2/2.0 (-1)	1,064 (-8%)	11mo	$155,000	$146	60
739 Cindy Lee Ln	0.41mi	3/2.0	1,198 (+4%)	23mo	$171,000	$143	55
4031 E 8th St	0.67mi	3/2.0	1,232 (+7%)	17mo	$80,000	$65	42

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: -0.3%
• Equity multiple: 0.99×
• Total profit: $-407
• Equity at exit: $20,114

10-year hold

• IRR: 6.7%
• Equity multiple: 1.45×
• Total profit: $17,068
• Equity at exit: $11,664

Cash invested: $37,772 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,542 high
• Mortgage (P&I): −$707
• Tax from tax record: −$56 /mo · $673/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $398

Break-even live

Break-even rent $1,038

Max offer price $134,900

Occupancy floor 69%

Sensitivity live

Price	-10% $474	-5% $436	+0% $398	+5% $360	+10% $322
Rent	-10% $276	-5% $337	+0% $398	+5% $459	+10% $520
Rate	-1.0pp $466	-0.5pp $432	base $398	+0.5pp $363	+1.0pp $328

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 17 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	0.34mi
3719 E 8th Ct Panama City, FL	1.0–4.0	1.0–1.5	950	$1,300	$1.37	22d	1	0.57mi
4905 Alameda St Unit 1 Panama City, FL	3.0	2.0	942	$1,295	$1.37	22d	1	0.77mi
3914 E 11th St #301 Panama City, FL	2.0	2.0	864	$1,000	$1.16	22d	1	0.81mi
5101 Willow St Panama City, FL	3.0	2.0	1099	$1,500	$1.36	14d	1	0.92mi
906 Kevin Ct Panama City, FL	3.0	2.0	1266	$1,795	$1.42	22d	1	0.94mi
208 North Highway 22 A Unit 33 Panama City, FL	3.0	2.0	1080	$1,350	$1.25	22d	1	0.96mi
149 North Highway 22 A Unit 5 Panama City, FL	2.0	1.0	900	$1,140	$1.27	14d	1	0.96mi
5117 E 10th St Unit D Panama City, FL	2.0	1.5	950	$1,250	$1.32	14d	1	1.07mi
5117 E 10th St Apt A Panama City, FL	2.0	1.5	936	$1,200	$1.28	14d	1	1.07mi
526 Camellia Ave Panama City, FL	3.0	2.0	1375	$1,950	$1.42	22d	1	1.14mi
1401 Transmitter Rd Unit 15 Panama City, FL	3.0	2.0	1100	$1,395	$1.27	14d	1	1.15mi
129 Seneca Ave Panama City, FL	3.0	2.0	1449	$1,495	$1.03	14d	1	1.21mi
4837 S Lakewood Dr Panama City, FL	2.0	1.5	1116	$1,500	$1.34	22d	1	1.34mi
420 Raven Ln Panama City, FL	3.0	2.0	1251	$1,750	$1.40	22d	1	1.34mi
725 Sherman Ave Unit B Panama City, FL	3.0	1.0	878	$1,250	$1.42	22d	1	1.36mi
5115 E 14th St Unit 3 Panama City, FL	2.0	2.0	978	$1,250	$1.28	22d	1	1.45mi

Listing history 4 events

1. 2026-02-11
   status Pending
2. 2026-02-08
   price $134,900
3. 2025-12-31
   listed $142,500 Active
4. 2004-11-19
   soldstatus $21,000

ⓘ 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: $673 · $56/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$446/yr (+$37/mo · 66.3%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 14% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥105°F today · 17 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: $18,499
• − Mortgage interest: −$7,556
• − Property taxes: −$673
• − Insurance: −$674
• − Repairs & maintenance: −$1,480
• − Management: −$1,480
• − Depreciation: −$3,924
• Taxable income: $2,710
• Est. tax owed @ 24.0%: −$651
• After-tax cash flow: $4,127/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

+542.4% since first listed

4 events — show timeline

• 2026-02-11 Pending — CPARMLS
• 2026-02-08 Price Changed $134,900 CPARMLS
• 2025-12-31 Listed $142,500 CPARMLS
• 2004-11-19 Sold (Public Records) $21,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $673 · +6.4% YoY. Source: county tax records.