198 Tankey Dr · Palmetto, FL 34221

$155,000

2 bd · 1.0 ba · 954 sqft · Manufactured public records · 366 Days on market

Built 1979 3,358 sqft lot $190/mo HOA · 10% 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 +25.2/30.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Back on the Market – Buyer Financing Fell Through! Seller Motivated! Charming 2-Bedroom Home in Jet Mobile Home Park – Fully Renovated, Furnished, and Move-In Ready. Welcome to your Florida retreat in the desirable Jet Mobile Home Park, a resident-owned 55+ waterfront community along the Manatee River. This beautifully updated 2-bedroom, 2-bathroom home comes partially furnished, making it the perfect choice for seasonal living or a year-round residence. Step inside to a bright, open layout that includes a spacious sunroom, ideal for relaxing or entertaining. The home has been thoughtfully renovated in 2025 with new vinyl flooring, fresh interior paint, updated vanities and plum

Key facts

• Fully renovated
• Waterfront community
• Spacious sunroom

Tags

• FULLY RENOVATED
• WATERFRONT COMMUNITY
• BRIGHT AND AIRY LAYOUT
• SPACIOUS SUNROOM
• CUSTOM-BUILT HICKORY DESIGN
• NEW DISHWASHER

Property features AI

Finance

• Other: Furnished; Third-party listing; Living area reported as 954 sq ft (building area 1,440 sq ft); Lot about 0.08 acres (approximately 312 m²)
• Financial info: Lease restrictions apply
• HOA & community: Community clubhouse; Pool included in association fee; Association covers grounds maintenance, management, sewer, trash and water; Buyer approval required; Deed restrictions; Golf carts allowed; Senior community; Pets not allowed; Association approval required for purchase; Total monthly association fees approximately $190 (total annual $2,280)

Exterior

• Parking: Carport with 1 space
• Utilities: Public water; Public sewer; Public utilities
• Home design: Manufactured double-wide home; One level; Faces east
• Construction: Vinyl siding with frame construction; Membrane roof; Built on crawlspace
• Exterior features: Rain gutters; Paved road access

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Laminate; Crawlspace foundation
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air
• Interior features: Ceiling fans; Living room/dining room combo; Window treatments
• Laundry & utility: Washer; Dryer; Outdoor/other laundry area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $155k.

Deal economics

• At list price, monthly cash flow is $-82 ($-981/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (9.3% below list).
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $136k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 2.0% in Palmetto — 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 72/100 on livability (#346 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, 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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).

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 366 days — a 12% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $30k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $22k; list at $155k implies a 618% 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 6→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,400 (12.0% 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 366 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — 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. 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?
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: 1.20% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.53%
• DSCR: 1.42
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $84,906
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4 Tennessee St	0.22mi	2/2.0	960 (+1%)	2mo	$85,000	$89	83
243 Palm Ln	0.10mi	2/2.0	820 (-14%)	14mo	$57,500	$70	57

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: -24.9%
• Equity multiple: 0.18×
• Total profit: $-35,461
• Equity at exit: $23,111

10-year hold

• IRR: -44.6%
• Equity multiple: -0.32×
• Total profit: $-57,374
• Equity at exit: $13,402

Cash invested: $43,400 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,864 high
• Mortgage (P&I): −$813
• Tax from tax record: −$60 /mo · $725/yr
• Insurance: −$65
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$190
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $-82

Break-even live

Break-even rent $1,968

Max offer price $140,559

Occupancy floor 99%

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
522 7th Ave W Unit 3 Palmetto, FL	1.0	1.0	535	$1,195	$2.23	23d	1	0.39mi
507 10th Ave W Palmetto, FL	2.0	1.0	737	$1,495	$2.03	16d	1	0.63mi
501 11th St W Palmetto, FL	2.0	1.0	850	$1,340	$1.58	2d	1	0.65mi
900 9th Ave E Unit 180 Palmetto, FL	2.0	2.0	1000	$1,650	$1.65	16d	1	0.71mi
516 12th St W Unit A Palmetto, FL	2.0	1.0	612	$1,350	$2.21	16d	1	0.81mi
518 12th St W Palmetto, FL	2.0	1.0	612	$1,350	$2.21	16d	1	0.81mi
210 3rd St W #8402 Bradenton, FL	2.0	2.0	1000	$2,600	$2.60	23d	1	0.90mi
210 3rd St W Bradenton, FL	1.0–3.0	1.0–2.0	1094	$1,954	$1.79	1d	1	0.90mi
606 3rd Ave W Bradenton, FL	1.0–3.0	1.0–2.0	1090	$1,768	$1.62	2d	23	0.99mi
1229 11th Ave W Palmetto, FL	3.0	1.0	1072	$1,800	$1.68	2d	1	1.05mi
515 1st Ave E Bradenton, FL	2.0	2.0	1104	$2,275	$2.06	23d	1	1.12mi
102 Manatee Ave W Bradenton, FL	1.0–3.0	1.0–2.0	1035	$1,962	$1.90	2d	14	1.15mi
1809 5th Ave W Palmetto, FL	3.0	1.0	962	$1,895	$1.97	23d	1	1.21mi
408 3rd Ave E Unit A Bradenton, FL	3.0	2.0	1000	$1,995	$2.00	3d	1	1.22mi
1213 15th St W Palmetto, FL	2.0	1.0	1000	$1,800	$1.80	23d	1	1.23mi
1715 9th St W Palmetto, FL	2.0	2.0	1104	$2,000	$1.81	23d	1	1.33mi
801 6th Ave W Bradenton, FL	2.0	2.0	808	$1,542	$1.91	3d	4	1.35mi
1161 3rd Ave E Bradenton, FL	1.0–3.0	1.0–2.0	1088	$2,652	$2.44	1d	21	1.40mi
360 11th St E Bradenton, FL	1.0–3.0	1.0–2.0	1112	$1,978	$1.78	1d	20	1.45mi

HOA detail

• Monthly dues: $190 · $2,280/yr
• Likely covers: water

Listing history 7 events

1. 2026-05-31
   days on market $155,000 Active 366 DOM
2. 2026-03-08
   status Active
3. 2026-02-28
   status Pending
4. 2026-01-17
   price $155,000
5. 2025-09-24
   price $170,000
6. 2025-05-22
   listed $185,000 Active
7. 1992-06-04
   soldstatus $21,600

ⓘ 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: $725 · $60/mo
• Projected year-2 tax: $1,286 · $107/mo
• Expected delta: +$562/yr (+$47/mo · 77.5%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,369
• − Mortgage interest: −$8,682
• − Property taxes: −$725
• − Insurance: −$5,894
• − Repairs & maintenance: −$1,789
• − Management: −$1,789
• − HOA: −$2,280
• − Depreciation: −$4,509
• Taxable loss: −$3,300
• Est. tax savings @ 24.0%: +$792
• After-tax cash flow: $-189/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 — Palmetto

• Score: 72/100
• State rank: #346
• US rank: #5695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmetto, FL
• County: Manatee County · 416,364 people
• City population: 56,208
• 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

+617.6% since first listed

6 events — show timeline

• 2026-03-08 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-28 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-01-17 Price Changed $155,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-24 Price Changed $170,000 Stellar MLS as Distributed by MLS Grid
• 2025-05-22 Listed $185,000 Stellar MLS as Distributed by MLS Grid
• 1992-06-04 Sold (Public Records) $21,600 Public Records

Property tax history

-2.0%/yr

Latest (2025): $725 · +8.2% YoY. Source: county tax records.