4368 72nd Way N #111 · West Lealman, FL 33709

$85,000

2 bd · 2.0 ba · 672 sqft · Manufactured public records · 59 Days on market

Built 1975 12 ac lot Est $101k · 16% under $225/mo HOA · 14% of rent

---

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
• ARV discount +14.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.3/10.0
• Livability +4.0/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to easy Florida living in the highly sought-after 55+ community of Magnolia Manor! This well-maintained home offers a bright and open floor plan with abundant natural light, a spacious living area, and a functional kitchen with ample cabinetry. The primary suite provides a comfortable retreat, while additional space is perfect for guests or a home office. Enjoy your morning coffee or unwind in the screened-in porch, ideal for Florida’s beautiful weather. Magnolia Manor is a resident-owned community known for its friendly atmosphere and convenient location near shopping, dining, and the Gulf beaches. Whether you're looking for a seasonal getaway or full-time residence, this hom

Key facts

• Screened in porch
• Convenient location
• 12.4 acre lot

Tags

• SCREENED IN PORCH
• CONVENIENT LOCATION

Property features AI

Finance

• Other: Furnished; Total building area reported as 1,530 square feet; Living area reported as 672 square feet; Directions available
• HOA & community: Monthly HOA fee of $225; HOA amenities include clubhouse, fitness center, laundry, pool, and shuffleboard court; Association fee covers grounds maintenance; Senior community; Pets not allowed

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Private sewer; Electricity connected; Sewer connected; Water connected; Cable connected
• Home design: Residential mobile home (single wide); One story; East-facing
• Construction: Metal frame construction; Membrane and metal roof
• Exterior features: Awnings; Private mailbox; Asphalt road access; 12.4-acre parcel

Interior

• Kitchen: Dishwasher; Microwave; Range; Range hood; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Pillar/post/pier foundation
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Baseboard heating; Central heating; Central air conditioning
• Interior features: Kitchen and family room combined; Living room and dining room combined; Thermostat; Window treatments
• Laundry & utility: Washer; Dryer; Laundry located outside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 1.8% in West Lealman — 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 81/100 on livability (#84 in FL, #1,396 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, employment D+, amenities F.
• Pinellas (suburban): math 51% / reading 51% proficiency, ranked #31 of 73 in FL (top 42%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents flat; 309 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 36% of the median local income ($54k/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.
• Pinellas County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 1.0% rent growth), your $24k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $27k; list at $85k implies a 218% 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 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.90% ✓
• Cap rate: 12.64%
• Cash-on-cash: 22.68%
• DSCR: 2.01
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $100,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4235 72nd Way N #99	0.08mi	2/1.5	588 (-12%)	3mo	$88,000	$150	71

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 · 0.99% rent growth · sell at horizon

5-year hold

• IRR: 12.9%
• Equity multiple: 1.50×
• Total profit: $11,843
• Equity at exit: $12,674

10-year hold

• IRR: 19.8%
• Equity multiple: 2.48×
• Total profit: $35,272
• 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 33709

• Rents YoY: 1.0%
• Active inventory: 309
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,616 high
• Mortgage (P&I): −$446
• Tax from tax record: −$121 /mo · $1,446/yr
• Insurance: −$35
• HOA: −$225
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $450

Break-even live

Break-even rent $1,046

Max offer price $85,000

Occupancy floor 67%

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 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7317 46th Ave N Unit 4 St. Petersburg, FL	1.0	1.0	528	$1,200	$2.27	14d	1	0.16mi
4801 71st St N St Petersburg, FL	2.0	1.0	726	$1,900	$2.62	17d	1	0.29mi
4801 71st St N Saint Petersburg, FL	2.0	1.0	726	$1,900	$2.62	4d	1	0.29mi
6801 48th Ave N Unit B St. Petersburg, FL	1.0	1.0	650	$1,525	$2.35	24d	1	0.45mi
4701 68th St N Saint Petersburg, FL	1.0	1.0	700	$1,099	$1.57	24d	1	0.47mi
5140 70th St N Unit 3 St. Petersburg, FL	1.0	1.0	450	$1,200	$2.67	24d	1	0.51mi
5411 70th Ln N Saint Petersburg, FL	2.0	1.0	600	$1,800	$3.00	24d	1	0.68mi
6538 42nd Ave N Unit 7 Kenneth City, FL	2.0	1.0	648	$2,000	$3.09	24d	1	0.71mi
7801 34th Ave N #88 Saint Petersburg, FL	2.0	1.0	624	$1,300	$2.08	2d	1	0.75mi
7801 34th Ave N #88 Saint Petersburg, FL	2.0	1.0	624	$1,400	$2.24	24d	1	0.75mi
3556 66th St N St. Petersburg, FL	1.0	1.0	610	$1,300	$2.13	14d	1	0.81mi
6522 54th Ave N Saint Petersburg, FL	1.0–3.0	1.0–2.0	892	$1,600	$1.79	1d	10	0.89mi
7045 30th Ave N Saint Petersburg, FL	1.0–2.0	1.0–2.0	825	$1,595	$1.93	7d	1	0.90mi
3980 64th St N Saint Petersburg, FL	1.0–2.0	1.0–2.0	707	$1,500	$2.12	3d	6	0.91mi
5257 81st Ln N #6 Saint Petersburg, FL	1.0	1.0	745	$1,375	$1.85	24d	1	0.98mi
5255 62nd St N Kenneth City, FL	1.0–3.0	1.0–2.0	1000	$1,538	$1.54	2d	2	1.29mi
8800 Bay Pines Blvd #320 Saint Petersburg, FL	1.0	1.0	506	$2,200	$4.35	4d	1	1.41mi

HOA detail

• Monthly dues: $225 · $2,700/yr

Listing history 15 events

1. 2026-06-18
   days on market $85,000 Active 59 DOM
2. 2026-06-17
   days on market $85,000 Active 58 DOM
3. 2026-06-16
   days on market $85,000 Active 57 DOM
4. 2026-06-15
   days on market $85,000 Active 56 DOM
5. 2026-06-13
   days on market $85,000 Active 54 DOM
6. 2026-06-09
   days on market $85,000 Active 50 DOM
7. 2026-06-08
   days on market $85,000 Active 49 DOM
8. 2026-06-07
   days on market $85,000 Active 48 DOM
9. 2026-06-04
   days on market $85,000 Active 45 DOM
10. 2026-06-03
    days on market $85,000 Active 44 DOM
11. 2026-06-01
    days on market $85,000 Active 42 DOM
12. 2026-05-31
    days on market $85,000 Active 41 DOM
13. 2026-05-18
    price $85,000
14. 2026-04-20
    listed $90,000 Active
15. 2000-01-01
    soldstatus $26,700

ⓘ 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: $1,446 · $121/mo
• Projected year-2 tax: $1,446 · $121/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 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 25 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,390
• − Mortgage interest: −$4,761
• − Property taxes: −$1,446
• − Insurance: −$425
• − Repairs & maintenance: −$1,551
• − Management: −$1,551
• − HOA: −$2,700
• − Depreciation: −$2,473
• Taxable income: $4,482
• Est. tax owed @ 24.0%: −$1,076
• After-tax cash flow: $4,322/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: Pinellas
• NCES district ID: 1201560
• Math proficiency: 51% ▼ -5.00%
• Reading proficiency: 51% ▼ -3.00%
• Median HH income: $46,270
• Composite: 43.27/100
• National rank: #3046
• State rank: #31 of 73 in FL

Livability — West Lealman

• Score: 81/100
• State rank: #84
• US rank: #1396

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Lealman, FL
• County: Pinellas County · 939,478 people
• City population: 25,371
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 25,050
• Household income: $53,501
• Rent vs Own: 23.9% rent · 76.1% own
• Severe rent burden: 712.0

Population outlook (Pinellas County) Hauer SSP2

• Today (2025): 1,027,532 people
• By 2030: 1,063,586 · +3.5%
• By 2040: 1,125,020 · +9.5%
• By 2050: 1,168,637 · +13.7%
• By 2075: 1,265,188 · +23.1%
• By 2100: 1,260,357 · +22.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 11% Two or more races 10% Black 5% Asian 5%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 2% Dominican 1%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 14% · Canada, Vietnam, Jamaica
• Languages at home: 84% English-only · Spanish 9% Other Indo-European 2% Vietnamese 2%

Political lean MEDSL · Pinellas

• 2024 margin: Lean R (+5.2) · D 46.9% · R 52.1%
• 2008→2024 swing: -13.5pp toward R · 2008: 8.3pp · 2024: -5.2pp
• All cycles: 2024: R+5.2 2020: D+0.2 2016: R+1.1 2012: D+5.6 2008: D+8.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -416.74%
• Current HPI: 391.368
• Rent YoY: ▲ 0.99%
• Metro: Tampa-St. Petersburg-Clearwater, 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

+218.4% since first listed

3 events — show timeline

• 2026-05-18 Price Changed $85,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-20 Listed $90,000 Stellar MLS as Distributed by MLS Grid
• 2000-01-01 Sold (Public Records) $26,700 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,446 · +22.1% YoY. Source: county tax records.