6201 61st Ct E · Ellenton, FL 34221

$299,000

3 bd · 2.0 ba · 1,277 sqft · SingleFamily public records · 21 Days on market

Built 1994 7,710 sqft lot Est $309k · at est. $50/mo HOA · 2% of rent

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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 +14.4/30.0
• ARV discount +9.0/15.0
• DSCR +4.4/10.0
• Schools +4.4/10.0
• Livability +3.8/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. 6201 61st Ct E in Palmetto!— a beautiful 3-bed, 2-bath block home nestled in the highly sought-after Fresh Meadows neighborhood. Offering just under 1,300 square feet of thoughtfully designed living space, this 1994-built home features vaulted ceilings that enhance the open feel from the moment you walk in. The freshly painted interior feels inviting and well-kept, while recent updates- including a newer roof (2025), a newer water heater (2021), newer rigid core vinyl flooring (2021), dishwasher and other appliances (2021), and many others- provide added value and peace of mind. A spacious 2-car garage, inside utility room with washer and dryer

Key facts

• Large fenced-in yard
• Newer roof
• Screened-in lanai

Tags

• FRESH MEADOWS NEIGHBORHOOD
• VAULTED CEILINGS
• NEWER ROOF
• NEWER WATER HEATER
• LARGE FENCED-IN YARD
• SCREENED-IN LANAI

Property features AI

Finance

• Other: No lease restrictions; Pets allowed; Deed restrictions
• HOA & community: Has HOA managed by Stokes Property Management; Monthly HOA $50 (quarterly fee noted $150); HOA amenities: pool, playground, basketball court, tennis courts; Association fees include common area taxes, pool, and escrow reserves

Exterior

• Parking: Attached 2-car garage (18x22) with garage door opener; Driveway; Workshop area in garage
• Utilities: Public water; Public sewer; Electricity connected; Water connected; Sewer connected; Cable connected; Underground utilities
• Home design: Single family residence; One story; North-facing; Completed condition; Homesteaded
• Construction: Block and stucco construction; Shingle roof; Slab foundation; Built using public records living area of 1,277 (sq ft)
• Exterior features: Front porch; Rear porch; Patio; Screened porch; Private mailbox; Chain link fencing; Mature landscaping; Paved lot; Public maintained road

Interior

• Kitchen: Range; Microwave; Dishwasher; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Formal dining area; Open floorplan; Thermostat; Vaulted ceilings; Walk-in closets
• Laundry & utility: Washer; Dryer; Inside laundry room; Inside utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $299k.

Deal economics

• At list price, monthly cash flow is $61 ($736/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 $239k (20.1% below list).
• Recommended offer: $239k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 4.5% in Ellenton — 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 76/100 on livability (#232 in FL, #3,666 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute 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.
• Zoned schools: Virgil Mills Elementary School (math 69% / reading 65%, grade B+, #450 of 2,144 statewide, top 22%, 818 students, 43% FRL); Buffalo Creek Middle School (math 59% / reading 51%, grade B-, #180 of 571 statewide, top 32%, 1,127 students, 44% FRL); Palmetto High School (math 22% / reading 36%, grade F, #456 of 667 statewide, top 68%, 2,100 students, 61% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents soft (-3.0%/yr); 1170 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 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 37% 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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $105k; list at $299k implies a 185% 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→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $238,935 (20.1% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 0.80% ✗
• Cap rate: 6.54%
• Cash-on-cash: 0.88%
• DSCR: 1.04
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $309,034
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6201 61st Ct E	0.00mi	3/2.0	1,277 (0%)	0mo	$290,000	$227	100
6104 65th Ct E	0.27mi	3/2.0	1,274 (-0%)	2mo	$334,000	$262	85
6109 61st Ct E	0.03mi	3/2.0	1,192 (-7%)	3mo	$329,775	$277	85
6405 61st Dr E	0.24mi	3/2.0	1,262 (-1%)	18mo	$380,000	$301	72
5806 Oak Mill Ter	0.56mi	3/2.0	1,275 (-0%)	3mo	$280,000	$220	71
6022 Oak Mill Ter	0.42mi	3/2.0	1,280 (+0%)	15mo	$290,000	$227	68
5504 71st St E	0.74mi	3/2.0	1,280 (+0%)	5mo	$279,900	$219	61
6403 63rd Ave E	0.21mi	3/2.0	1,426 (+12%)	15mo	$370,000	$259	59
6605 63rd Ave E	0.33mi	3/2.0	1,443 (+13%)	14mo	$349,000	$242	52
5910 Oak Mill Ter	0.51mi	3/2.0	1,456 (+14%)	2mo	$375,000	$258	51
7115 50th Avenue Cir E	0.72mi	2/2.0 (-1)	1,444 (+13%)	2mo	$299,999	$208	38
5511 71st St E	0.70mi	3/2.0	1,444 (+13%)	13mo	$305,000	$211	35

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.38×
• Total profit: $-51,659
• Equity at exit: $44,582

10-year hold

• IRR: -16.5%
• Equity multiple: 0.19×
• Total profit: $-67,469
• Equity at exit: $25,852

Cash invested: $83,720 (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: 1170
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,389 high
• Mortgage (P&I): −$1,568
• Tax from tax record: −$84 /mo · $1,004/yr
• Insurance: −$125
• HOA: −$50
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $61

Break-even live

Break-even rent $2,312

Max offer price $299,000

Occupancy floor 92%

Sensitivity live

Price	-10% $231	-5% $146	+0% $61	+5% $-23	+10% $-108
Rent	-10% $-127	-5% $-33	+0% $61	+5% $156	+10% $250
Rate	-1.0pp $212	-0.5pp $137	base $61	+0.5pp $-16	+1.0pp $-95

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: $74,750
• Closing costs: $8,970
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6109 63rd Ave E Palmetto, FL	3.0	2.0	1295	$1,960	$1.51	4d	1	0.04mi
5410 Badini Way Palmetto, FL	4.0	2.0	1740	$2,500	$1.44	5d	1	0.66mi
5413 Badini Way Palmetto, FL	3.0	2.0	1420	$2,550	$1.80	5d	1	0.67mi
5605 78th Ave E Palmetto, FL	3.0	2.0	1415	$2,800	$1.98	23d	1	0.87mi
5029 Rocky Coast Pl Palmetto, FL	3.0	2.0	1482	$2,400	$1.62	12d	1	1.11mi
5185 Rocky Coast Pl Palmetto, FL	3.0	2.0	1529	$2,450	$1.60	16d	1	1.35mi
5514 Night Owl Ter Palmetto, FL	4.0	2.0	1752	$2,650	$1.51	18d	1	1.38mi
3931 Day Bridge Pl Ellenton, FL	3.0	2.0	1250	$2,295	$1.84	5d	1	1.40mi
8132 Tea Olive Ter Palmetto, FL	4.0	3.0	1698	$2,500	$1.47	25d	1	1.45mi

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: water

Listing history 8 events

1. 2026-05-08
   status Pending
2. 2026-05-01
   price $299,000
3. 2026-04-16
   listed $310,000 Active
4. 2008-12-14
   listed $154,900
5. 2001-04-05
   soldstatus $105,000
6. 1995-12-29
   soldstatus $87,500
7. 1994-08-16
   soldstatus $83,500
8. 1994-05-11
   soldstatus $73,500

ⓘ 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: $1,004 · $84/mo
• Projected year-2 tax: $2,482 · $207/mo
• Expected delta: +$1,477/yr (+$123/mo · 147.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,672
• − Mortgage interest: −$16,749
• − Property taxes: −$1,004
• − Insurance: −$1,495
• − Repairs & maintenance: −$2,294
• − Management: −$2,294
• − HOA: −$600
• − Depreciation: −$8,698
• Taxable loss: −$4,462
• Est. tax savings @ 24.0%: +$1,071
• After-tax cash flow: $1,807/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: 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 — Ellenton

• Score: 76/100
• State rank: #232
• US rank: #3666

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Manatee County · 416,364 people
• City population: 33,319
• 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

+306.8% since first listed

8 events — show timeline

• 2026-05-08 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-01 Price Changed $299,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-16 Listed $310,000 Stellar MLS as Distributed by MLS Grid
• 2008-12-14 Listed $154,900 Stellar MLS as Distributed by MLS Grid
• 2001-04-05 Sold (Public Records) $105,000 Public Records
• 1995-12-29 Sold (Public Records) $87,500 Public Records
• 1994-08-16 Sold (Public Records) $83,500 Public Records
• 1994-05-11 Sold (Public Records) $73,500 Public Records

Property tax history

+3.5%/yr

Latest (2025): $1,004 · +7.3% YoY. Source: county tax records.