10315 W 5th St Unit 46-5 · Cortez, FL 34210

$68,888

2 bd · 1.0 ba · 1,150 sqft · Manufactured · 1 Days on market

Built 1959 Fair condition 2,452 sqft lot $180/mo HOA · 9% of rent

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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 +4.4/10.0
• Livability +3.5/5.0
• Condition / age +2.2/5.0
• Rent growth +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your vision to Paradise Bay! This property, being sold "As is", offers a rare opportunity to renovate a coastal retreat or start fresh with a custom new manufactured home. Situated on a good-sized lot on one of the community's most picturesque wide streets, you’ll be greeted by towering pines and swaying palms that lead you directly toward the bay. The home is priced appropriately for a total rehab, or you can choose to demo the existing unit and join the many neighbors who are installing stunning new manufactured homes. With well-cared-for surrounding properties and a wave of new construction on the street, this is an ideal location to build equity. Experience the inc

Key facts

• Fitness center
• Active clubhouse
• Private marina

Tags

• PRIVATE MARINA
• HEATED POOL
• PICKLEBALL
• FITNESS CENTER
• ACTIVE CLUBHOUSE
• BAY FRONT GAZEBOS

Property features AI

Finance

• Other: Property is homesteaded; Listing contact available
• Financial info: Total monthly fees $180; total annual fees $2,160; Lease restrictions apply
• HOA & community: Has HOA (monthly fee $180); Association requires approval; Association amenities: clubhouse, fitness center, laundry, maintenance, pool, spa/hot tub, pickleball courts, shuffleboard court, fence restrictions; Association fee includes common area taxes, pool, maintenance structure and grounds, private road, sewer, trash and water; Community features: buyer approval required, clubhouse, fitness center, golf carts allowed, pool, street lights; Senior community; Pets allowed: cats OK (number limit)

Exterior

• Parking: Covered carport with 2 spaces
• Utilities: Public water; Public sewer; Electricity connected; Cable available; Sewer connected; Water connected
• Home design: Mobile home (double wide); One story; Facing northwest; Property classified as residential; fixer condition
• Construction: Metal frame construction; Vinyl siding; Membrane roof; Crawlspace and slab foundation; Built on a 0.06-acre lot (private maintained asphalt road)
• Exterior features: Awning(s); Private mailbox; Shade shutters; Storage

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms
• Flooring: Linoleum; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: No central heating listed; Wall/window unit(s) for cooling
• Interior features: Living room/dining room combo
• Laundry & utility: No laundry hook-ups or laundry area listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $69k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $481 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Cap rate 22.1% vs local median 1.8% in Cortez — 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 69/100 on livability (#486 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, commute A+, housing A+; Watch: cost of living C-, schools D-, amenities 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 falling (-6.1%/yr); 549 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• This rent runs 37% of the median local income ($64k/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 $476 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $19k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,888

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1959 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 2.87% ✓
• Cap rate: 22.11%
• Cash-on-cash: 56.48%
• DSCR: 3.51
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $261,050
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10315 W 5th St Unit 46-5	0.00mi	2/1.0	1,150 (0%)	1mo	$63,888	$56	99
10315 Cortez Rd W Unit 13H	0.21mi	2/2.0	1,188 (+3%)	6mo	$350,000	$295	76
10315 Cortez Rd W Unit 24H	0.25mi	2/1.0	1,076 (-6%)	2mo	$218,000	$203	75
10315 Cortez Rd W Unit 1B	0.17mi	2/1.0	1,012 (-12%)	3mo	$120,000	$119	70
10315 Cortez Rd W Unit 6-1	0.18mi	2/2.0	1,015 (-12%)	4mo	$230,000	$227	65
10315 Cortez Rd W Unit 17F	0.26mi	3/1.5 (+1)	1,054 (-8%)	9mo	$325,000	$308	60

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: 19.1%
• Equity multiple: 1.73×
• Total profit: $14,089
• Equity at exit: $10,271

10-year hold

• IRR: 23.9%
• Equity multiple: 2.60×
• Total profit: $30,952
• Equity at exit: $5,956

Cash invested: $19,289 (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 34210

• Rents YoY: -6.1%
• Active inventory: 549
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $1,980 high
• Mortgage (P&I): −$361
• Tax est. 1.5%: −$86 /mo · $1,033/yr
• Insurance: −$29
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$180
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $481

Break-even live

Break-even rent $1,370

Max offer price $68,888

Occupancy floor 71%

Sensitivity live

Price	-10% $529	-5% $505	+0% $481	+5% $457	+10% $434
Rent	-10% $325	-5% $403	+0% $481	+5% $559	+10% $638
Rate	-1.0pp $516	-0.5pp $499	base $481	+0.5pp $463	+1.0pp $445

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: $17,222
• Closing costs: $2,067
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4607 103rd Street Ct W Bradenton, FL	2.0	2.0	930	$2,100	$2.26	12d	1	0.20mi
4518 102nd St W Bradenton, FL	2.0	1.0	850	$1,395	$1.64	24d	1	0.27mi
9819 Hernando Ct Unit 29-A Bradenton, FL	2.0	2.0	1078	$2,500	$2.32	24d	1	0.41mi
4765 Independence Dr Bradenton, FL	2.0	2.0	1350	$4,300	$3.19	24d	1	0.68mi
4813 Independence Dr Bradenton, FL	2.0	2.0	1147	$1,695	$1.48	24d	1	0.71mi
4782 Independence Dr #4782 Bradenton, FL	2.0	2.0	1188	$2,000	$1.68	24d	1	0.74mi
12112 44th Ave W Unit 1545997P Cortez, FL	2.0	2.0	1216	$1,613	$1.33	15d	1	1.04mi
4512 86th Street Ct W Unit A Bradenton, FL	2.0	1.0	755	$1,500	$1.99	24d	1	1.14mi
4311 126th St W Cortez, FL	2.0	2.0	864	$3,850	$4.46	24d	1	1.42mi

HOA detail

• Monthly dues: $180 · $2,160/yr

Listing history 2 events

1. 2026-05-06
   status Pending
2. 2026-05-05
   listed $68,888 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 28 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: $23,755
• − Mortgage interest: −$3,859
• − Property taxes: −$1,033
• − Insurance: −$5,463
• − Repairs & maintenance: −$1,900
• − Management: −$1,900
• − HOA: −$2,160
• − Depreciation: −$2,004
• Taxable income: $5,435
• Est. tax owed @ 24.0%: −$1,304
• After-tax cash flow: $4,471/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.

Condition & rehab AI · 1 photo

Fair 45/100 Moderate rehab

This manufactured home requires moderate renovations, focusing on exterior siding, flooring, and interior walls. Painted exterior siding and replacing the carpet would significantly improve its resale and rental value.

Repairs flagged

• Major exterior siding — Significant damage
• Major flooring — Worn and debris-laden
• Major interior walls — Painted walls with potential water damage

Value-add opportunities

• Resale Paint exterior siding — Enhances curb appeal
• Rental Replace carpet — Improves living space appearance

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Significant damage	Major	$15,000–50,000
flooring · Worn and debris-laden	Major	$15,000–50,000
interior walls · Painted walls with potential water damage	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale Paint exterior siding — Enhances curb appeal ↑
• Rental Replace carpet — Improves living space appearance ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Cortez

• Score: 69/100
• State rank: #486
• US rank: #8944

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cortez, FL
• County: Manatee County · 416,364 people
• City population: 759
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 17,682
• Household income: $64,244
• Rent vs Own: 39.3% rent · 60.7% own
• Severe rent burden: 895.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Hispanic / Latino 20% Black 8% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3% Cuban 7%
• Common ancestry: Hispanic 4% Romanian 3% Lithuanian 3%
• Foreign-born: 17% · Canada, China, Jamaica
• Languages at home: 76% English-only · Spanish 15% French/Haitian/Cajun 4% 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: ▼ -162.68%
• Current HPI: 246.9247
• Rent YoY: ▼ -6.08%
• 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

2 events — show timeline

• 2026-05-06 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-05 Listed $68,888 Stellar MLS as Distributed by MLS Grid