1647 Midlothian St · Sarasota, FL 34234

$60,000

2 bd · 2.0 ba · 660 sqft · Manufactured public records · 29 Days on market

Built 1967 3,444 sqft lot ↓ 14% since listing

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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 +5.4/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1647 Midlothian St in Sarasota, FL, a charming 2-bedroom, 1.5-bath home offering affordable Florida living in a convenient location. This property features a covered carport, screened entry area, and a practical layout with comfortable living space throughout. The exterior offers low-maintenance appeal, a widened driveway area, and room to enjoy Sarasota's year-round sunshine. Located in the desirable Tri-Par Estates area, this home is close to shopping, dining, beaches, downtown Sarasota, SRQ Airport, and major roadways. Whether you are looking for a seasonal retreat, full-time residence, or investment opportunity, this property offers excellent potential.

Key facts

• 3,444 sq ft lot
• Parking
• Built 1967

Property features AI

Finance

• Other: Property type: Residential; Property sub-type: Mobile Home; Zoning: RMH; Lot size approximately 0.08 acres; Living area approximately 660 sq ft (public records); Building area listed as 1,550 sq ft (public records)
• HOA & community: Senior community

Exterior

• Parking: Carport (1 space)
• Utilities: Public water; Public sewer; Private utilities
• Home design: Residential mobile home (single wide); One story; Faces northwest
• Construction: Vinyl siding; Metal roof; Block and pillar/post/pier foundation; Built on a single level
• Exterior features: Other exterior features

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Linoleum; Wood
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $515 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 80/100 on livability (#121 in FL, #1,854 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, health & safety A+, commute A; Watch: crime F.
• Sarasota (urban): math 63% / reading 63% proficiency, ranked #7 of 73 in FL (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents falling (-3.1%/yr); 268 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 40% of the median local income ($57k/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 $415 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $17k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; 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 $59,100 (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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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.
8. 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.
9. 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: 3.18% ✓
• Cap rate: 25.11%
• Cash-on-cash: 67.22%
• DSCR: 3.99
• GRM: 2.6

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: 27.3%
• Equity multiple: 2.06×
• Total profit: $17,835
• Equity at exit: $8,946

10-year hold

• IRR: 31.8%
• Equity multiple: 3.24×
• Total profit: $37,657
• Equity at exit: $5,188

Cash invested: $16,800 (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 34234

• Rents YoY: -3.1%
• Active inventory: 268
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,910 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$229 /mo · $2,742/yr
• Insurance: −$25
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $515

Break-even live

Break-even rent $1,259

Max offer price $60,000

Occupancy floor 68%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2351 University Pkwy Sarasota, FL	1.0–3.0	1.0–2.0	1046	$2,480	$2.37	2d	24	1.31mi

Listing history 2 events

1. 2026-05-07
   price $60,000 676-char remark
2. 2026-04-28
   listed $70,000 Active 676-char remark

ⓘ 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: $2,742 · $229/mo
• Projected year-2 tax: $2,742 · $229/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 6/10 Major FEMA zone AE · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $22,925
• − Mortgage interest: −$3,361
• − Property taxes: −$2,742
• − Insurance: −$5,418
• − Repairs & maintenance: −$1,834
• − Management: −$1,834
• − Depreciation: −$1,745
• Taxable income: $5,990
• Est. tax owed @ 24.0%: −$1,438
• After-tax cash flow: $4,737/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: Sarasota
• NCES district ID: 1201680
• Math proficiency: 63% ▼ -8.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $51,167
• Composite: 53.68/100
• National rank: #1428
• State rank: #7 of 73 in FL

Livability — Sarasota

• Score: 80/100
• State rank: #121
• US rank: #1854

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sarasota County · 448,376 people
• City population: 261,896
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 22,986
• Household income: $57,288
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1306.0

Population outlook (Sarasota County) Hauer SSP2

• Today (2025): 452,380 people
• By 2030: 474,175 · +4.8%
• By 2040: 511,577 · +13.1%
• By 2050: 541,467 · +19.7%
• By 2075: 604,947 · +33.7%
• By 2100: 621,965 · +37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 44% Black 31% Hispanic / Latino 20% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1% Cuban 6% Dominican 1%
• Common ancestry: Lithuanian 4% Hispanic 2% Romanian 1%
• Foreign-born: 17% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 17% French/Haitian/Cajun 1%

Political lean MEDSL · Sarasota

• 2024 margin: R (+18.2) · D 40.5% · R 58.7%
• 2008→2024 swing: -18.1pp toward R · 2008: -0.1pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+10.4 2016: R+11.6 2012: R+7.4 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -229.06%
• Current HPI: 305.6629
• Rent YoY: ▼ -3.15%
• 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

-14.3% since first listed

3 events — show timeline

• 2026-05-27 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-05-07 Price Changed $60,000 Stellar MLS as Distributed by MLS Grid
• 2026-04-28 Listed $70,000 Stellar MLS as Distributed by MLS Grid

Property tax history

+6.2%/yr

Latest (2025): $2,742 · -2.2% YoY. Source: county tax records.