8503 Princess Ct · Ellenton, FL 34221

$160,000

2 bd · 1.0 ba · 864 sqft · Manufactured public records · 134 Days on market

Built 1988 8,712 sqft lot Est $173k · 7% under $181/mo HOA · 8% of rent

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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 +28.5/30.0
• ARV discount +10.8/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Schools +4.4/10.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Very nice 2bdrm 2 full bath turn-key furnished home. Own the land. Low HOA fees that include internet and cable. Resort living in this 55+ gated community with tennis and pickleball courts, 2 heated pools, shuffleboard, boccie ball and horseshoes. Large clubhouse with social events. Lakes for fishing and small boating. Short drive to the gulf beaches. New roof and A/C. Large enclosed lanai for extra living space and storage room with washer and dryer. HOA approval required.

Key facts

• Heated pools
• Low hoa fees
• Own the land

Tags

• TURN-KEY FURNISHED HOME
• OWN THE LAND
• LOW HOA FEES
• TENNIS AND PICKLEBALL COURTS
• HEATED POOLS
• LARGE CLUBHOUSE

Property features AI

Finance

• Other: Furnished; Lease restrictions apply
• HOA & community: Has HOA (Imperial Lakes/Darcy Lakes) — monthly HOA approximately $181.33; Quarterly association fee applies; Association amenities include gated access, pool, clubhouse, tennis courts, pickleball courts, shuffleboard, recreational facilities; Association requires approval; Senior community; Pets allowed (max ~25 lbs)

Exterior

• Parking: Has carport (1 space)
• Security: Gated community
• Utilities: Public water; Public sewer; Public utilities
• Home design: Manufactured home (Double wide); One story; Southeast facing; Entry level: 1
• Construction: Vinyl siding; Metal roof; Slab foundation; Built as manufactured home
• Exterior features: Rain gutters; Greenbelt lot feature; Asphalt road access; Irrigation equipment

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Range hood; Refrigerator; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (Electric, Heat Pump); Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living room/dining room combo; Walk-in closet(s); Blinds; Thermal windows; Smoke detector(s)
• Laundry & utility: Washer; Dryer; Electric water heater; Laundry features: Other

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $522 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $141k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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: schools D+, 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.
• Market conditions: Rents soft (-3.0%/yr); 1160 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 33% 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 $1k of loan paydown is wiped out by about $5k 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 134 days — a 12% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $35k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $160k implies a 167% 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 6→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $140,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.34% ✓
• Cap rate: 10.21%
• Cash-on-cash: 13.99%
• DSCR: 1.62
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $172,800
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8500 Princess Ct	0.04mi	2/2.0	864 (0%)	13mo	$172,500	$200	84
8517 Buckingham Pl	0.03mi	2/2.0	900 (+4%)	8mo	$159,000	$177	81

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: 0.7%
• Equity multiple: 1.03×
• Total profit: $1,153
• Equity at exit: $23,857

10-year hold

• IRR: 6.9%
• Equity multiple: 1.44×
• Total profit: $19,929
• Equity at exit: $13,834

Cash invested: $44,800 (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: 6.2×

Monthly cashflow live

• Estimated rent: $2,137 high
• Mortgage (P&I): −$839
• Tax from tax record: −$79 /mo · $947/yr
• Insurance: −$67
• HOA: −$181
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $522

Break-even live

Break-even rent $1,476

Max offer price $160,000

Occupancy floor 71%

Sensitivity live

Price	-10% $613	-5% $568	+0% $522	+5% $477	+10% $432
Rent	-10% $354	-5% $438	+0% $522	+5% $607	+10% $691
Rate	-1.0pp $603	-0.5pp $563	base $522	+0.5pp $481	+1.0pp $439

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9650 52nd Ave E Palmetto, FL	1.0–3.0	1.0–2.0	1050	$1,958	$1.87	24d	99	0.48mi
5020 Cedar Leaf Cir Palmetto, FL	1.0–2.0	1.0–2.0	873	$2,491	$2.85	2d	21	0.69mi
6210 Terra Lago Cir Palmetto, FL	1.0–3.0	1.0–2.0	1015	$1,962	$1.93	4d	50	0.98mi
6354 Fairmont Ln Palmetto, FL	2.0	2.5	1123	$2,000	$1.78	24d	1	1.24mi
9204 34th Ave E Palmetto, FL	3.0	2.0	1100	$1,800	$1.64	12d	1	1.47mi

HOA detail

• Monthly dues: $181 · $2,172/yr
• Likely covers: internetcablepoolsecurity

Listing history 25 events

1. 2026-06-18
   days on market $160,000 Active 134 DOM
2. 2026-06-17
   days on market $160,000 Active 133 DOM
3. 2026-06-16
   days on market $160,000 Active 132 DOM
4. 2026-06-15
   days on market $160,000 Active 131 DOM
5. 2026-06-13
   days on market $160,000 Active 129 DOM
6. 2026-06-13
   days on market $160,000 Active 128 DOM
7. 2026-06-10
   days on market $160,000 Active 126 DOM
8. 2026-06-09
   days on market $160,000 Active 125 DOM
9. 2026-06-08
   days on market $160,000 Active 124 DOM
10. 2026-06-08
    days on market $160,000 Active 123 DOM
11. 2026-06-03
    days on market $160,000 Active 119 DOM
12. 2026-06-02
    pricedays on market $160,000 Active 118 DOM
13. 2026-06-01
    days on market $175,000 Active 117 DOM
14. 2026-05-31
    days on market $175,000 Active 116 DOM
15. 2026-05-08
    price $175,000
16. 2026-04-04
    price $185,000
17. 2026-02-10
    historical $2,200
18. 2026-02-04
    listed $195,000 Active
19. 2025-12-17
    price $2,200
20. 2025-11-01
    price $2,350
21. 2025-10-17
    listed $2,500
22. 2010-06-02
    soldstatus $60,000
23. 2010-04-07
    historical
24. 2009-11-16
    listed $79,900
25. 1988-04-13
    soldstatus $57,000

ⓘ 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: $947 · $79/mo
• Projected year-2 tax: $1,328 · $111/mo
• Expected delta: +$381/yr (+$32/mo · 40.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 23 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: $25,642
• − Mortgage interest: −$8,962
• − Property taxes: −$947
• − Insurance: −$800
• − Repairs & maintenance: −$2,051
• − Management: −$2,051
• − HOA: −$2,172
• − Depreciation: −$4,655
• Taxable income: $4,003
• Est. tax owed @ 24.0%: −$961
• After-tax cash flow: $5,308/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
• 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

+207.0% since first listed

11 events — show timeline

• 2026-05-08 Price Changed $175,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-04 Price Changed $185,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-10 Rental Removed $2,200 STELLARMLS
• 2026-02-04 Listed $195,000 Stellar MLS as Distributed by MLS Grid
• 2025-12-17 Price Changed $2,200 STELLARMLS
• 2025-11-01 Price Changed $2,350 STELLARMLS
• 2025-10-17 Listed for Rent $2,500 STELLARMLS
• 2010-06-02 Sold (Public Records) $60,000 Public Records
• 2010-04-07 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2009-11-16 Listed $79,900 Stellar MLS as Distributed by MLS Grid
• 1988-04-13 Sold (Public Records) $57,000 Public Records

Property tax history

+1.5%/yr

Latest (2024): $947 · -46.4% YoY. Source: county tax records.