3130 Bourbon St · Grove City, FL 34224

$234,900

2 bd · 2.0 ba · 864 sqft · Manufactured public records · 13 Days on market

Built 1973 7,500 sqft lot

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Why this score? — see what drove the C- 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 +22.2/30.0
• ARV discount +7.5/15.0
• DSCR +7.1/10.0
• 1% rule +5.4/10.0
• Schools +4.6/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

YOU WON’T BELIEVE THIS IS A MANUFACTURED HOME! Prepare to be amazed by this masterfully renovated coastal sanctuary on OWNED LAND—no lot rent! Sold turn-key and fully furnished, this home feels like a luxury custom build with a bright, open-concept design and designer finishes. Located just 1 block from the Intracoastal and 100ft from Stump Pass Marina/Lighthouse Grill, it’s a boater’s dream. Enjoy dry boat storage nearby and be on the Gulf in under 5 mins. The outdoor oasis features a private Tiki Hut, a large screened porch, and 2 storage sheds for all your gear, plus a 220V hook-up for a camper/RV. UNBEATABLE LOCATION: Walk to shops and dining, or take a short dri

Key facts

• Open-concept design
• Designer finishes
• Dry boat storage

Tags

• OWNED LAND
• TURN-KEY
• OPEN-CONCEPT DESIGN
• DESIGNER FINISHES
• BOATER'S DREAM
• DRY BOAT STORAGE

Property features AI

Finance

• Other: Furnished; Third-party listing; Living area 864 square feet; Lot approximately 0.17 acre (100 x 76); Flood zone; flood insurance required
• Financial info: No lease restrictions; Tax year 2024
• HOA & community: No association fees or approval required; Condo land included; Pets allowed (cats and dogs); max pet weight 110 lbs

Exterior

• Parking: Driveway (open); Carport with 1 space
• Utilities: No public water source listed; Private sewer; Cable connected; Electricity connected; Phone available; Water connected
• Home design: Residential mobile home; Double wide; Attached; One story; Faces east; Entry level: slab foundation; Property condition: completed
• Construction: Vinyl siding; Shingle roof and other roofing; Slab foundation; Built as a double wide mobile home
• Exterior features: Covered front porch; Screened porch; Outdoor grill; Sliding doors; Storage; Gazebo; Shed(s); Mature landscaping with oak trees; Level, cleared lot; Near marina; Paved access

Interior

• Kitchen: Dishwasher; Range; Range hood; Microwave; Refrigerator; Freezer; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Solid surface counters; Walk-in closet(s); Window treatments; Total of 9 rooms
• Laundry & utility: Washer; Dryer; Laundry features: Other

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $235k.

Deal economics

• At list price, monthly cash flow is $-42 ($-504/yr) — negative.
• To cash-flow at today's rent, offer at most $227k (3.2% below list).
• Meets the 1% rule at list price ($2k rent vs $235k).
• Recommended offer: $227k (3.2% below list) — sets the bar for cash-flow.
• Cap rate 8.3% vs local median 2.8% in Grove City — 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 (#713 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Charlotte (suburban): math 54% / reading 54% proficiency, ranked #22 of 73 in FL (top 30%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Lemon Bay High School (math 50% / reading 56%, grade C-, #148 of 667 statewide, top 23%, 1,360 students, 28% FRL) — zoned schools average 28% FRL vs 54% district-wide (25 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.1%/yr); 734 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).
• At $2,437/mo this rent would consume 51% of the median local household income ($57k/yr) (locally 329% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Charlotte County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y 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 $100k; list at $235k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $227,477 (3.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.04% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.02%
• DSCR: 1.31
• GRM: 8.0

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: -21.6%
• Equity multiple: 0.28×
• Total profit: $-47,634
• Equity at exit: $35,024

10-year hold

• IRR: -27.8%
• Equity multiple: -0.09×
• Total profit: $-71,520
• Equity at exit: $20,310

Cash invested: $65,772 (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 34224

• Home prices YoY: -18.9%
• Rents YoY: -0.1%
• Active inventory: 734
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,437 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$211 /mo · $2,534/yr
• Insurance: −$98
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $-42

Break-even live

Break-even rent $2,490

Max offer price $227,477

Occupancy floor 97%

Sensitivity live

Price	-10% $91	-5% $24	+0% $-42	+5% $-109	+10% $-175
Rent	-10% $-235	-5% $-138	+0% $-42	+5% $54	+10% $151
Rate	-1.0pp $76	-0.5pp $18	base $-42	+0.5pp $-103	+1.0pp $-165

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3280 Holly Ave Englewood, FL	3.0	2.0	900	$3,300	$3.67	22d	1	0.21mi
4341 Placida Rd #6 Englewood, FL	2.0	2.0	1071	$1,450	$1.35	22d	1	0.76mi
4341 Placida Rd #5 Englewood, FL	2.0	2.0	1071	$1,350	$1.26	22d	1	0.76mi

Listing history 11 events

1. 2026-06-18
   days on market $234,900 Active 13 DOM
2. 2026-06-17
   days on market $234,900 Active 12 DOM
3. 2026-06-16
   days on market $234,900 Active 11 DOM
4. 2026-06-15
   days on market $234,900 Active 10 DOM
5. 2026-06-14
   days on market $234,900 Active 8 DOM
6. 2026-06-13
   days on market $234,900 Active 7 DOM
7. 2026-06-10
   days on market $234,900 Active 5 DOM
8. 2026-06-09
   days on market $234,900 Active 4 DOM
9. 2026-06-08
   days on market $234,900 Active 3 DOM
10. 2026-06-07
    remarks 675-char remark
11. 2026-06-07
    listed $234,900 Active 2 DOM

ⓘ 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: $2,534 · $211/mo
• Projected year-2 tax: $2,534 · $211/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,247
• − Mortgage interest: −$13,158
• − Property taxes: −$2,534
• − Insurance: −$6,293
• − Repairs & maintenance: −$2,340
• − Management: −$2,340
• − Depreciation: −$6,833
• Taxable loss: −$4,251
• Est. tax savings @ 24.0%: +$1,020
• After-tax cash flow: $516/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: Charlotte
• NCES district ID: 1200240
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 54% ▼ -1.00%
• Median HH income: $44,864
• Composite: 45.62/100
• National rank: #2586
• State rank: #22 of 73 in FL

Livability — Grove City

• Score: 63/100
• State rank: #713
• US rank: #15171

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grove City, FL
• County: Charlotte County · 196,994 people
• Metro: Punta Gorda, FL
• Population (ZIP): 15,536
• Household income: $57,281
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 329.0

Population outlook (Charlotte County) Hauer SSP2

• Today (2025): 198,646 people
• By 2030: 210,507 · +6.0%
• By 2040: 230,857 · +16.2%
• By 2050: 247,148 · +24.4%
• By 2075: 281,777 · +41.8%
• By 2100: 293,609 · +47.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Romanian 4% Slovak 4% Lithuanian 4%
• Foreign-born: 9% · Canada
• Languages at home: 92% English-only · Other Indo-European 2% Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Charlotte

• 2024 margin: Solid R (+34.0) · D 32.7% · R 66.7%
• 2008→2024 swing: -26.7pp toward R · 2008: -7.2pp · 2024: -34.0pp
• All cycles: 2024: R+34.0 2020: R+26.6 2016: R+27.8 2012: R+14.3 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -75.76%
• Current HPI: 325.0345
• Rent YoY: ▼ -0.11%
• Metro: Punta Gorda, 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

+543.6% since first listed

14 events — show timeline

• 2026-06-05 Listed $234,900 Stellar MLS as Distributed by MLS Grid
• 2026-05-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-03-31 Price Changed $247,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-07 Listed $259,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-24 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-01-16 Price Changed $260,100 Stellar MLS as Distributed by MLS Grid
• 2025-10-24 Listed $289,000 Stellar MLS as Distributed by MLS Grid
• 2022-09-26 Sold (Public Records) $100,000 Public Records
• 2009-12-15 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2007-02-01 Listed $99,999 Stellar MLS as Distributed by MLS Grid
• 2005-09-30 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2005-06-13 Listed $195,000 Stellar MLS as Distributed by MLS Grid
• 2004-02-20 Sold (Public Records) $40,000 Public Records
• 1994-12-15 Sold (Public Records) $36,500 Public Records

Property tax history

+10.5%/yr

Latest (2025): $2,534 · +2.4% YoY. Source: county tax records.