2727 Usery Rd · Springfield, FL 32404

$299,999

4 bd · 3.0 ba · 2,080 sqft · Land · 143 Days on market

Built 2025 3,920 sqft lot $144/sqft · at area comps Est $310k · at est.

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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 +14.3/30.0
• ARV discount +9.0/15.0
• DSCR +4.4/10.0
• Schools +4.3/10.0
• Livability +3.0/5.0
• Rent growth +2.8/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Not your typical townhome, this stunning new build offers 2,080 square feet of beautifully designed living space with 4 spacious bedrooms and 3 full bathrooms. The flexible layout includes a main-level bedroom that can easily convert into a home office, giving you the perfect balance between work and life. Step into the first floor, the true heart of the home, featuring modern stainless steel appliances, soft-close cabinetry, and granite countertops throughout. ready for your culinary adventures. The EVP flooring flows seamlessly through every room, adding style and durability. Upstairs, retreat to your private second floor where the main suite features a double vanity, generous closet space, and a spa-like atmosphere. Enjoy no HOA fees in fact, no fees at all and a location that's less than 30 minutes to the beach and Tyndall AFB. Whether you're looking for your forever home or a smart investment, this townhome offers a desirable blend of comfort, convenience, and style. Welcome home!

Key facts

• Private second floor
• Double vanity
• Main-level bedroom

Tags

• MAIN-LEVEL BEDROOM
• SOFT-CLOSE CABINETRY
• GRANITE COUNTERTOPS
• EVP FLOORING
• PRIVATE SECOND FLOOR
• DOUBLE VANITY

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $300k.

Deal economics

• At list price, monthly cash flow is $56 ($667/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (23.8% below list).
• Recommended offer: $229k (23.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.8% 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: employment D, crime 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.
• Zoned schools: Cedar Grove Elementary School (math 18% / reading 18%, grade F, #2,115 of 2,144 statewide, top 99%, 562 students, 76% FRL); Merritt Brown Middle School (math 38% / reading 38%, grade F, #388 of 571 statewide, top 69%, 701 students, 55% FRL); Bay High School (math 37% / reading 34%, grade F, #367 of 667 statewide, top 57%, 1,255 students, 53% FRL).
• Zoned-school proficiency averages 30% at this address vs 51% district-wide (-20 pts) — the specific schools serving this property underperform the Bay average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.1%/yr); 982 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 37% 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 $2k of loan paydown is wiped out by about $9k 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 143 days — a 12% lower offer ($264k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $50k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $50k; list at $300k implies a 500% 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; 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 $228,571 (23.8% below list)

Questions for the listing agent

1. It's been on market 143 days. Have you received any prior offers? Is the seller open to a 24% 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. 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: 0.76% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.79%
• DSCR: 1.04
• GRM: 10.9

CMA / ARV

• ARV (median comp): $310,000
• List price: $299,999
• Delta: -3.23%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.9%
• Equity multiple: 0.41×
• Total profit: $-49,479
• Equity at exit: $44,731

10-year hold

• IRR: -12.1%
• Equity multiple: 0.33×
• Total profit: $-55,962
• Equity at exit: $25,938

Cash invested: $84,000 (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 32404

• Home prices YoY: -16.1%
• Rents YoY: 1.1%
• Active inventory: 982
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,286 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$52 /mo · $622/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $56

Break-even live

Break-even rent $2,215

Max offer price $299,999

Occupancy floor 93%

Sensitivity live

Price	-10% $225	-5% $141	+0% $56	+5% $-371	+10% $-475
Rent	-10% $-125	-5% $-35	+0% $56	+5% $146	+10% $236
Rate	-1.0pp $207	-0.5pp $132	base $56	+0.5pp $-22	+1.0pp $-101

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3545 Brentwood Pl Panama City, FL	3.0	2.0	1617	$2,200	$1.36	23d	1	0.43mi
3884 Red Deer Cir Panama City, FL	4.0	2.0	1972	$2,200	$1.12	23d	1	0.54mi
2433 Wakulla Ave Panama City, FL	4.0	2.0	1612	$1,600	$0.99	16d	1	1.08mi

Listing history 24 events

1. 2026-06-15
   days on market $299,999 Active 143 DOM
2. 2026-06-14
   days on market $299,999 Active 141 DOM
3. 2026-06-13
   days on market $299,999 Active 140 DOM
4. 2026-06-10
   days on market $299,999 Active 138 DOM
5. 2026-06-09
   days on market $299,999 Active 137 DOM
6. 2026-06-08
   days on market $299,999 Active 136 DOM
7. 2026-06-07
   days on market $299,999 Active 135 DOM
8. 2026-06-05
   days on market $299,999 Active 132 DOM
9. 2026-06-03
   days on market $299,999 Active 131 DOM
10. 2026-06-02
    days on market $299,999 Active 130 DOM
11. 2026-06-01
    days on market $299,999 Active 129 DOM
12. 2026-05-31
    days on market $299,999 Active 128 DOM
13. 2026-05-30
    days on market $299,999 Active 127 DOM
14. 2026-05-11
    price $299,999 1000-char remark

    Show marketing remark (1000 chars)

    Not your typical townhome, this stunning new build offers 2,080 square feet of beautifully designed living space with 4 spacious bedrooms and 3 full bathrooms. The flexible layout includes a main-level bedroom that can easily convert into a home office, giving you the perfect balance between work and life. Step into the first floor, the true heart of the home, featuring modern stainless steel appliances, soft-close cabinetry, and granite countertops throughout. ready for your culinary adventures. The EVP flooring flows seamlessly through every room, adding style and durability. Upstairs, retreat to your private second floor where the main suite features a double vanity, generous closet space, and a spa-like atmosphere. Enjoy no HOA fees in fact, no fees at all and a location that's less than 30 minutes to the beach and Tyndall AFB. Whether you're looking for your forever home or a smart investment, this townhome offers a desirable blend of comfort, convenience, and style. Welcome home!

15. 2026-05-02
    price $305,000 1000-char remark

    Show marketing remark (1000 chars)

    Not your typical townhome, this stunning new build offers 2,080 square feet of beautifully designed living space with 4 spacious bedrooms and 3 full bathrooms. The flexible layout includes a main-level bedroom that can easily convert into a home office, giving you the perfect balance between work and life. Step into the first floor, the true heart of the home, featuring modern stainless steel appliances, soft-close cabinetry, and granite countertops throughout. ready for your culinary adventures. The EVP flooring flows seamlessly through every room, adding style and durability. Upstairs, retreat to your private second floor where the main suite features a double vanity, generous closet space, and a spa-like atmosphere. Enjoy no HOA fees in fact, no fees at all and a location that's less than 30 minutes to the beach and Tyndall AFB. Whether you're looking for your forever home or a smart investment, this townhome offers a desirable blend of comfort, convenience, and style. Welcome home!

16. 2026-03-17
    price $310,000 1000-char remark

    Show marketing remark (1000 chars)

    Not your typical townhome, this stunning new build offers 2,080 square feet of beautifully designed living space with 4 spacious bedrooms and 3 full bathrooms. The flexible layout includes a main-level bedroom that can easily convert into a home office, giving you the perfect balance between work and life. Step into the first floor, the true heart of the home, featuring modern stainless steel appliances, soft-close cabinetry, and granite countertops throughout. ready for your culinary adventures. The EVP flooring flows seamlessly through every room, adding style and durability. Upstairs, retreat to your private second floor where the main suite features a double vanity, generous closet space, and a spa-like atmosphere. Enjoy no HOA fees in fact, no fees at all and a location that's less than 30 minutes to the beach and Tyndall AFB. Whether you're looking for your forever home or a smart investment, this townhome offers a desirable blend of comfort, convenience, and style. Welcome home!

17. 2026-03-11
    price $315,000 1000-char remark

    Show marketing remark (1000 chars)

    Not your typical townhome, this stunning new build offers 2,080 square feet of beautifully designed living space with 4 spacious bedrooms and 3 full bathrooms. The flexible layout includes a main-level bedroom that can easily convert into a home office, giving you the perfect balance between work and life. Step into the first floor, the true heart of the home, featuring modern stainless steel appliances, soft-close cabinetry, and granite countertops throughout. ready for your culinary adventures. The EVP flooring flows seamlessly through every room, adding style and durability. Upstairs, retreat to your private second floor where the main suite features a double vanity, generous closet space, and a spa-like atmosphere. Enjoy no HOA fees in fact, no fees at all and a location that's less than 30 minutes to the beach and Tyndall AFB. Whether you're looking for your forever home or a smart investment, this townhome offers a desirable blend of comfort, convenience, and style. Welcome home!

18. 2026-01-28
    status Active 1000-char remark

    Show marketing remark (1000 chars)

    Not your typical townhome, this stunning new build offers 2,080 square feet of beautifully designed living space with 4 spacious bedrooms and 3 full bathrooms. The flexible layout includes a main-level bedroom that can easily convert into a home office, giving you the perfect balance between work and life. Step into the first floor, the true heart of the home, featuring modern stainless steel appliances, soft-close cabinetry, and granite countertops throughout. ready for your culinary adventures. The EVP flooring flows seamlessly through every room, adding style and durability. Upstairs, retreat to your private second floor where the main suite features a double vanity, generous closet space, and a spa-like atmosphere. Enjoy no HOA fees in fact, no fees at all and a location that's less than 30 minutes to the beach and Tyndall AFB. Whether you're looking for your forever home or a smart investment, this townhome offers a desirable blend of comfort, convenience, and style. Welcome home!

19. 2026-01-28
    price $325,000 1000-char remark

    Show marketing remark (1000 chars)

    Not your typical townhome, this stunning new build offers 2,080 square feet of beautifully designed living space with 4 spacious bedrooms and 3 full bathrooms. The flexible layout includes a main-level bedroom that can easily convert into a home office, giving you the perfect balance between work and life. Step into the first floor, the true heart of the home, featuring modern stainless steel appliances, soft-close cabinetry, and granite countertops throughout. ready for your culinary adventures. The EVP flooring flows seamlessly through every room, adding style and durability. Upstairs, retreat to your private second floor where the main suite features a double vanity, generous closet space, and a spa-like atmosphere. Enjoy no HOA fees in fact, no fees at all and a location that's less than 30 minutes to the beach and Tyndall AFB. Whether you're looking for your forever home or a smart investment, this townhome offers a desirable blend of comfort, convenience, and style. Welcome home!

20. 2025-09-04
    historical 1000-char remark

    Show marketing remark (1000 chars)

    Not your typical townhome, this stunning new build offers 2,080 square feet of beautifully designed living space with 4 spacious bedrooms and 3 full bathrooms. The flexible layout includes a main-level bedroom that can easily convert into a home office, giving you the perfect balance between work and life. Step into the first floor, the true heart of the home, featuring modern stainless steel appliances, soft-close cabinetry, and granite countertops throughout. ready for your culinary adventures. The EVP flooring flows seamlessly through every room, adding style and durability. Upstairs, retreat to your private second floor where the main suite features a double vanity, generous closet space, and a spa-like atmosphere. Enjoy no HOA fees in fact, no fees at all and a location that's less than 30 minutes to the beach and Tyndall AFB. Whether you're looking for your forever home or a smart investment, this townhome offers a desirable blend of comfort, convenience, and style. Welcome home!

21. 2025-08-13
    listed $349,900 Active 1000-char remark

    Show marketing remark (1000 chars)

    Not your typical townhome, this stunning new build offers 2,080 square feet of beautifully designed living space with 4 spacious bedrooms and 3 full bathrooms. The flexible layout includes a main-level bedroom that can easily convert into a home office, giving you the perfect balance between work and life. Step into the first floor, the true heart of the home, featuring modern stainless steel appliances, soft-close cabinetry, and granite countertops throughout. ready for your culinary adventures. The EVP flooring flows seamlessly through every room, adding style and durability. Upstairs, retreat to your private second floor where the main suite features a double vanity, generous closet space, and a spa-like atmosphere. Enjoy no HOA fees in fact, no fees at all and a location that's less than 30 minutes to the beach and Tyndall AFB. Whether you're looking for your forever home or a smart investment, this townhome offers a desirable blend of comfort, convenience, and style. Welcome home!

22. 2022-03-31
    soldstatus $50,000 Closed 100-char remark

    Show marketing remark (100 chars)

    Large lot on a dead end street. Very quiet and an existing concrete slab is already on the property.

23. 2022-03-12
    historical 100-char remark

    Show marketing remark (100 chars)

    Large lot on a dead end street. Very quiet and an existing concrete slab is already on the property.

24. 2022-03-08
    listed $50,000 100-char remark

    Show marketing remark (100 chars)

    Large lot on a dead end street. Very quiet and an existing concrete slab is already on the property.

ⓘ 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: $622 · $52/mo
• Projected year-2 tax: $2,490 · $207/mo
• Expected delta: +$1,868/yr (+$156/mo · 300.0%)

ⓘ 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) · 20% 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: $27,429
• − Mortgage interest: −$16,805
• − Property taxes: −$622
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,194
• − Management: −$2,194
• − Depreciation: −$8,727
• Taxable loss: −$4,614
• Est. tax savings @ 24.0%: +$1,107
• After-tax cash flow: $1,775/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): 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

+500.0% since first listed

11 events — show timeline

• 2026-05-11 Price Changed $299,999 CPARMLS
• 2026-05-02 Price Changed $305,000 CPARMLS
• 2026-03-17 Price Changed $310,000 CPARMLS
• 2026-03-11 Price Changed $315,000 CPARMLS
• 2026-01-28 Relisted — CPARMLS
• 2026-01-28 Price Changed $325,000 CPARMLS
• 2025-09-04 Listing Removed — CPARMLS
• 2025-08-13 Listed $349,900 CPARMLS
• 2022-03-31 Sold (MLS) $50,000 CPARMLS
• 2022-03-12 Listing Removed — CPARMLS
• 2022-03-08 Listed $50,000 CPARMLS

Property tax history

+1.2%/yr

Latest (2025): $622 · -22.3% YoY. Source: county tax records.