7100 Ulmerton Rd · Largo, FL 33771

$6,000

1 bd · 1.0 ba · 8,008 sqft · Manufactured public records · 26 Days on market

Built 1973

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Livability +4.1/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

This is an adorable manufactured home in the prestigious Ranchero Village community in Largo, Florida. The good : It has an extra bonus room with its own AC that could be converted into a spare bedroom. The master bedroom is massive. It has an updated walk-in shower. It comes with a flat top stove, refrigerator and a washer and dryer. The roof is good and it has a brand spanking new central AC unit. It has a cozy screened in patio to relax. The bad: a few of the kitchen drawers need to be replaced, and we removed the doors from underneath the bathroom sink to create a private latrine station for our cat so you would need to replace those. The ugly: we lost our carport during that terrible

Key facts

• Three swimming pools
• Billiards room
• Gym

Tags

• UPDATED WALK-IN SHOWER
• BRAND NEW CENTRAL AC UNIT
• THREE SWIMMING POOLS
• BILLIARDS ROOM
• GYM

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $6k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $6k).
• Recommended offer: $6k (1.5% below list) — sets the bar for market timing.
• Cap rate 250.2% vs local median 4.2% in Largo — 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 82/100 on livability (#82 in FL, #1,240 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: 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 soft (-1.1%/yr); 220 active listings in the ZIP; 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
• This rent runs 32% of the median local income ($60k/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 $41 of loan paydown is wiped out by about $180 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 + 0.0% rent growth), your $2k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($6k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y ago; this cycle's ask has dropped $4k (37%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $5,910 (1.5% below list)

Questions for the listing agent

1. Built in 1973 — 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. 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?
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: 26.60% ✓
• Cap rate: 250.19%
• Cash-on-cash: 871.07%
• DSCR: 39.76
• GRM: 0.3

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: —
• Equity multiple: 43.88×
• Total profit: $72,044
• Equity at exit: $895

10-year hold

• IRR: —
• Equity multiple: 87.17×
• Total profit: $144,768
• Equity at exit: $519

Cash invested: $1,680 (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 33771

• Home prices YoY: -30.2%
• Rents YoY: -1.1%
• Active inventory: 220
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $1,596 medium
• Mortgage (P&I): −$31
• Tax est. 1.5%: −$8 /mo · $90/yr
• Insurance: −$2
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $1,219

Break-even live

Break-even rent $52

Max offer price $6,000

Occupancy floor 19%

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: $1,500
• Closing costs: $180
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $6,000 Active 26 DOM
2. 2026-06-17
   days on market $6,000 Active 25 DOM
3. 2026-06-16
   days on market $6,000 Active 24 DOM
4. 2026-06-15
   days on market $6,000 Active 23 DOM
5. 2026-06-13
   days on market $6,000 Active 21 DOM
6. 2026-06-09
   days on market $6,000 Active 17 DOM
7. 2026-06-08
   days on market $6,000 Active 16 DOM
8. 2026-06-07
   days on market $6,000 Active 15 DOM
9. 2026-06-04
   days on market $6,000 Active 12 DOM
10. 2026-06-03
    days on market $6,000 Active 11 DOM
11. 2026-06-01
    days on market $6,000 Active 9 DOM
12. 2026-05-31
    days on market $6,000 Active 8 DOM
13. 2026-03-14
    historical
14. 2026-03-13
    listed $9,500 Active
15. 2025-10-25
    listed $59,900 Active
16. 2010-11-15
    listed $51,900
17. 2010-06-19
    listed $64,900
18. 2009-03-31
    historical
19. 2009-01-19
    listed $116,490
20. 2008-07-03
    listed $94,900

ⓘ 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: $19,154
• − Mortgage interest: −$336
• − Property taxes: −$90
• − Insurance: −$30
• − Repairs & maintenance: −$1,532
• − Management: −$1,532
• − Depreciation: −$175
• Taxable income: $15,459
• Est. tax owed @ 24.0%: −$3,710
• After-tax cash flow: $10,924/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 — Largo

• Score: 82/100
• State rank: #82
• US rank: #1240

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: Largo, FL
• County: Pinellas County · 939,478 people
• City population: 106,311
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 27,596
• Household income: $59,993
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 1243.0

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 (74%)
• Race & ethnicity: White 74% Hispanic / Latino 14% Two or more races 9% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 6% Dominican 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 2%
• Foreign-born: 13% · Canada, Jamaica, Guatemala
• Languages at home: 82% English-only · Spanish 12% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -135.36%
• Current HPI: 313.5044
• Rent YoY: ▼ -1.06%
• 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

-90.0% since first listed

8 events — show timeline

• 2026-03-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-03-13 Listed $9,500 Stellar MLS as Distributed by MLS Grid
• 2025-10-25 Listed $59,900 ForSaleByOwner.com
• 2010-11-15 Listed $51,900 Stellar MLS as Distributed by MLS Grid
• 2010-06-19 Listed $64,900 Stellar MLS as Distributed by MLS Grid
• 2009-03-31 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2009-01-19 Listed $116,490 Stellar MLS as Distributed by MLS Grid
• 2008-07-03 Listed $94,900 Stellar MLS as Distributed by MLS Grid