1398 Ibis Dr · Englewood, FL 34224

$115,000

3 bd · 1.5 ba · 588 sqft · Manufactured public records · 228 Days on market

Manufactured home Built 1970 7,500 sqft lot $8/mo HOA · 1% of rent

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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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• Schools +4.6/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This is a great neighborhood with less deed restrictions. You may park your boat, RV and car by your home. It has a 12 X 16 shed with runing water and electricity. The home comes furnished and all stays except personal items. Club membership allows you to have a key for the boat ramp (for a small fee) that leads to Ainger Creek and the Intercoastal then the Gulf of America. The club house has many different activities throughout the year. This home is located close to shopping, restaurants, doctors, hospitals, golf courses, the beaches on Manasota Key and much more. The owner said that he may entertain holding a partial loan if negotiated. See you soon!

Key facts

• Ainger creek
• Club house
• Shopping

Tags

• BOAT RAMP
• AINGER CREEK
• CLUB HOUSE
• SHOPPING
• RESTAURANTS
• DOCTORS

Property features AI

Finance

• Other: Property zoned MHC; Total acreage: less than 1/4 acre (approx. 0.17 acres; lot dimensions 60 x 125)
• Financial info: Lease restrictions apply
• HOA & community: Has HOA (annual fee $100; approximately $8.33/month); Association contact listed; Clubhouse; Deed restrictions; Golf carts allowed; Senior community; Pets allowed (cats and dogs with number limits)

Exterior

• Parking: Has carport (1 space)
• Utilities: Public water; Public sewer; Cable available; Fire hydrant nearby; Boat ramp available to club members for a small fee
• Home design: Mobile home (single wide); One level; Faces east
• Construction: Vinyl siding; Metal roof; Crawlspace foundation; Built area consistent with a smaller residence
• Exterior features: Patio; Exterior lighting; Rain gutters; Sliding doors; Storage shed(s); Cleared, level lot; Near golf course; Paved, public maintained road; Flood zone (property in flood zone)

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Exhaust fan; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Laminate; Vinyl
• Bathrooms: 1 full bath; 1 half bath
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Ceiling fans; Living room/dining room combo; Window treatments; Electric fireplace
• Laundry & utility: Laundry closet; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $-124 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $93k (19.1% below list).
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $93k (19.1% below list) — sets the bar for cash-flow.
• Cap rate 9.4% vs local median 3.8% in Englewood — 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 73/100 on livability (#321 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, health & safety 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: Myakka River Elementary School (math 65% / reading 60%, grade B, #601 of 2,144 statewide, top 28%, 608 students, 51% FRL); L. A. Ainger Middle School (math 65% / reading 53%, grade B, #144 of 571 statewide, top 26%, 720 students, 40% FRL); Lemon Bay High School (math 50% / reading 56%, grade C-, #148 of 667 statewide, top 23%, 1,360 students, 28% FRL).
• Market conditions: Rents soft (-0.1%/yr); 737 active listings in the ZIP; 4,585 units permitted in Charlotte County in 2024 (703 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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

• It's been on market 228 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $32k; list at $115k implies a 254% 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; moderate wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $93,086 (19.1% 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. It's been on market 228 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are A-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?
9. 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.
10. 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.
11. 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: 1.14% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.27%
• DSCR: 1.50
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $58,800
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
755 Baja Viejo	0.59mi	2/1.0 (-1)	672 (+14%)	3mo	$67,500	$100	39

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: -29.2%
• Equity multiple: 0.06×
• Total profit: $-30,142
• Equity at exit: $17,147

10-year hold

• IRR: -62.6%
• Equity multiple: -0.56×
• Total profit: $-50,309
• Equity at exit: $9,943

Cash invested: $32,200 (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: 737
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,314 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$77 /mo · $923/yr
• Insurance: −$48
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$8
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $-124

Break-even live

Break-even rent $1,471

Max offer price $93,086

Occupancy floor —

Sensitivity live

Price	-10% $-59	-5% $-91	+0% $-124	+5% $-157	+10% $-189
Rent	-10% $-228	-5% $-176	+0% $-124	+5% $-72	+10% $-20
Rate	-1.0pp $-66	-0.5pp $-95	base $-124	+0.5pp $-154	+1.0pp $-184

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: waterelectric

Listing history 18 events

1. 2026-06-22
   days on market $115,000 Active 228 DOM
2. 2026-06-18
   days on market $115,000 Active 225 DOM
3. 2026-06-17
   days on market $115,000 Active 224 DOM
4. 2026-06-16
   days on market $115,000 Active 223 DOM
5. 2026-06-15
   days on market $115,000 Active 222 DOM
6. 2026-06-14
   days on market $115,000 Active 220 DOM
7. 2026-06-13
   days on market $115,000 Active 219 DOM
8. 2026-06-10
   days on market $115,000 Active 217 DOM
9. 2026-06-09
   days on market $115,000 Active 216 DOM
10. 2026-06-08
    days on market $115,000 Active 215 DOM
11. 2026-06-05
    days on market $115,000 Active 211 DOM
12. 2026-06-02
    days on market $115,000 Active 209 DOM
13. 2026-06-01
    days on market $115,000 Active 208 DOM
14. 2026-05-31
    days on market $115,000 Active 207 DOM
15. 2026-05-30
    days on market $115,000 Active 206 DOM
16. 2025-11-05
    listed $115,000 Active
17. 1999-04-27
    soldstatus $32,500
18. 1984-03-01
    soldstatus $26,500

ⓘ 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: $923 · $77/mo
• Projected year-2 tax: $954 · $80/mo
• Expected delta: +$32/yr (+$3/mo · 3.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $15,773
• − Mortgage interest: −$6,442
• − Property taxes: −$923
• − Insurance: −$5,694
• − Repairs & maintenance: −$1,262
• − Management: −$1,262
• − HOA: −$96
• − Depreciation: −$3,345
• Taxable loss: −$3,250
• Est. tax savings @ 24.0%: +$780
• After-tax cash flow: $-709/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 — Englewood

• Score: 73/100
• State rank: #321
• US rank: #5655

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Englewood, FL
• County: Charlotte County · 196,994 people
• City population: 35,420
• 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

+334.0% since first listed

3 events — show timeline

• 2025-11-05 Listed $115,000 Stellar MLS as Distributed by MLS Grid
• 1999-04-27 Sold (Public Records) $32,500 Public Records
• 1984-03-01 Sold (Public Records) $26,500 Public Records

Property tax history

+0.4%/yr

Latest (2025): $923 · +4.5% YoY. Source: county tax records.