1 bd · 2.0 ba ·
984 sqft ·
Built 1970
· Manufactured
· Active
· 110 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,720/mo
Mortgage (P&I)
−$309
Tax + insurance
−$110
HOA
−$192
Vac / Maint / Mgmt
−$361
Net cashflow
$748/mo
Annual
$8,977/yr
Cap rate
21.53%
Cash-on-cash
54.43%
DSCR
3.42
1% rule
2.92%
Cash to close
$16,492
Investor read
This is a 1-bed/2.0-bath manufactured listed at $59k.
At list price, monthly cash flow is $748 ($9k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($2k rent vs $59k).
It's been on market 110 days — a 9% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $54k (9.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $407 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
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 rising (+1.4%/yr); 140 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 2,676 units permitted in Pinellas County in 2024 (1,422 in 5+ unit buildings).
Pinellas County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
2 sale attempts 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 $24k; list at $59k implies a 140% gain — meaningful room to come down on a strong offer.
At projected returns (-3.0% appreciation + 1.4% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.
Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Cap rate 21.5% 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.
This rent runs 32% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.
Questions for listing agent
It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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.
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.
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.
CashFlowRE · CFR-AGB4PRDVNQB87D
· Data 2 weeks agocashflowre.app · 2026-05-29