305 Peace Mnr · Memphis, FL 34221

$109,999

2 bd · 2.0 ba · 902 sqft · Other · 24 Days on market

Built 1967 Good condition

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Condition / age +3.8/5.0
• Livability +3.2/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Feel the Ocean breeze off your lanai! Come to the Salt life leave your snow shovel behind at Leisure Lake over 55 park! Charming remodeled unit with French doors off kitchen to lanai! NO LOT RENT! LOW LOW HOA $218! AFFORDABLE! PRICED TO SELL & amp; JUST REDUCED $12,500! LOW ANNUAL TAXES! 2026 BRAND NEW METAL ROOF & amp; NEW SIDING! NEW FLOORING. Nice Mini split A/C keeps cooling costs low. Beautiful Open Concept! Neat as a pin Layout! Has additional indoor storage/laundry room. 2 walk in closets! There are 2 fireplaces! 2 bedrooms and 2 REMODELED BATHROOMS, Off the Master is 1 full bathroom & amp; brand new handicap accessible shower with large sun flower shower head. Cute p

Key facts

• New metal roof
• New siding
• Remodeled unit

Tags

• REMODELED UNIT
• HANDICAP ACCESSIBLE SHOWER
• MULTI PURPOSE GUEST ROOM
• OUTDOOR SHED
• NEW METAL ROOF
• NEW SIDING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $798 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $108k (1.5% below list) — sets the bar for market timing.
• Cap rate 15.0% vs local median 4.5% in Memphis — 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 63/100 on livability (#745 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, schools F, amenities F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-3.0%/yr); 1160 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• This rent runs 30% of the median local income ($78k/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 $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($108k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,349 (1.5% below list)

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.79% ✓
• Cap rate: 14.99%
• Cash-on-cash: 31.07%
• DSCR: 2.38
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 22.4%
• Equity multiple: 1.88×
• Total profit: $27,221
• Equity at exit: $16,401

10-year hold

• IRR: 28.4%
• Equity multiple: 3.17×
• Total profit: $66,899
• Equity at exit: $9,511

Cash invested: $30,800 (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 34221

• Rents YoY: -3.0%
• Active inventory: 1160
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,972 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$137 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $798

Break-even live

Break-even rent $962

Max offer price $109,999

Occupancy floor 55%

Sensitivity live

Price	-10% $874	-5% $836	+0% $798	+5% $760	+10% $722
Rent	-10% $642	-5% $720	+0% $798	+5% $875	+10% $953
Rate	-1.0pp $853	-0.5pp $825	base $798	+0.5pp $769	+1.0pp $740

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1809 5th Ave W Palmetto, FL	3.0	1.0	962	$1,895	$1.97	24d	1	0.63mi
307 27th St E Palmetto, FL	2.0	2.0	980	$2,000	$2.04	24d	1	0.66mi
2225 14th Ave W Palmetto, FL	2.0	2.0	1120	$1,895	$1.69	24d	1	0.66mi
2225 14th Ave W Unit 204 Palmetto, FL	2.0	2.0	1120	$1,795	$1.60	24d	1	0.66mi
2320 Terra Ceia Bay Blvd #211 Palmetto, FL	2.0	2.0	978	$2,500	$2.56	24d	1	0.66mi
2725 Terra Ceia Bay Blvd #203 Palmetto, FL	1.0	2.0	1106	$3,200	$2.89	24d	1	0.95mi
1213 15th St W Palmetto, FL	2.0	1.0	1000	$1,800	$1.80	24d	1	0.95mi
719 23rd St E Palmetto, FL	3.0	2.0	1060	$1,800	$1.70	11d	1	1.01mi
518 12th St W Palmetto, FL	2.0	1.0	612	$1,350	$2.21	16d	1	1.03mi
516 12th St W Unit A Palmetto, FL	2.0	1.0	612	$1,350	$2.21	16d	1	1.03mi
1229 11th Ave W Palmetto, FL	3.0	1.0	1072	$1,800	$1.68	2d	1	1.05mi
900 21st St E Palmetto, FL	2.0–3.0	1.0	800	$1,495	$1.87	24d	1	1.08mi
501 11th St W Palmetto, FL	2.0	1.0	850	$1,340	$1.58	2d	1	1.19mi
515 45th St E Palmetto, FL	2.0	2.0	900	$2,100	$2.33	24d	1	1.29mi
709 45th St E Palmetto, FL	2.0	2.0	1000	$1,550	$1.55	3d	1	1.32mi

Listing history 15 events

1. 2026-06-18
   days on market $109,999 Active 24 DOM
2. 2026-06-17
   days on market $109,999 Active 23 DOM
3. 2026-06-16
   days on market $109,999 Active 22 DOM
4. 2026-06-15
   days on market $109,999 Active 21 DOM
5. 2026-06-13
   days on market $109,999 Active 19 DOM
6. 2026-06-13
   days on market $109,999 Active 18 DOM
7. 2026-06-10
   days on market $109,999 Active 16 DOM
8. 2026-06-09
   days on market $109,999 Active 15 DOM
9. 2026-06-08
   days on market $109,999 Active 14 DOM
10. 2026-06-08
    days on market $109,999 Active 13 DOM
11. 2026-06-03
    days on market $109,999 Active 9 DOM
12. 2026-06-02
    days on market $109,999 Active 8 DOM
13. 2026-06-01
    days on market $109,999 Active 7 DOM
14. 2026-05-31
    days on market $109,999 Active 6 DOM
15. 2026-05-14
    listed $109,999 Active

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 44% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,661
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,893
• − Management: −$1,893
• − Depreciation: −$3,200
• Taxable income: $8,314
• Est. tax owed @ 24.0%: −$1,995
• After-tax cash flow: $7,575/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.

Condition & rehab AI · 1 photo

Good 75/100 Cosmetic rehab

This remodeled unit is in good condition with recent updates, including a new roof, siding, and flooring. It offers a good investment opportunity with potential for further improvements to enhance its curb appeal and living space.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers or renters
• Both Add a small patio or seating area on the lanai — Expands living space and can increase appeal for both buyers and renters

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and can attract more buyers or renters ↑
• Both Add a small patio or seating area on the lanai — Expands living space and can increase appeal for both buyers and renters ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Manatee
• NCES district ID: 1201230
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $49,607
• Composite: 44.43/100
• National rank: #2806
• State rank: #26 of 73 in FL

Livability — Memphis

• Score: 63/100
• State rank: #745
• US rank: #16072

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: Memphis, FL
• County: Manatee County · 416,364 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 56,208
• Household income: $77,712
• Rent vs Own: 17.1% rent · 82.9% own
• Severe rent burden: 1193.0

Population outlook (Manatee County) Hauer SSP2

• Today (2025): 447,342 people
• By 2030: 488,911 · +9.3%
• By 2040: 567,934 · +27.0%
• By 2050: 637,995 · +42.6%
• By 2075: 781,970 · +74.8%
• By 2100: 848,272 · +89.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Hispanic / Latino 22% Black 14% Two or more races 11%
• Hispanic origin (detail): Mexican 14% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada, Dominican Republic, Jamaica
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1%

Political lean MEDSL · Manatee

• 2024 margin: Strong R (+23.5) · D 37.9% · R 61.4%
• 2008→2024 swing: -16.5pp toward R · 2008: -7.0pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+16.1 2016: R+17.1 2012: R+12.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -383.53%
• Current HPI: 302.1458
• Rent YoY: ▼ -2.98%
• Metro: North Port-Sarasota-Bradenton, 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

1 event — show timeline

• 2026-05-14 Listed $109,999 FSBO.com