449 Landsedge Dr · Warm Mineral Springs, FL 34287

$119,000

2 bd · 2.0 ba · 1,092 sqft · Manufactured public records · 152 Days on market

Built 1990 5,218 sqft lot $196/mo HOA · 11% of rent

---

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 +26.5/30.0
• 1% rule +9.4/10.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.3/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the award-winning 55+ community of Harbor Isles in North Port, this double-wide manufactured home offers a great opportunity to create your own Florida retreat. The home is functional and well laid out, featuring generous living spaces, but is ready for cosmetic updates and a little TLC—perfect for buyers who want to add their own finishing touches and build instant equity. A new roof installed in 2025 provides peace of mind and adds significant value. Enjoy the Harbor Isles lifestyle with resort-style amenities including a clubhouse, community pools, marina, fitness center, and an active social calendar. Conveniently located near shopping, dining, medical facilities, and Gulf beaches, this home is an excellent value in a sought-after community.

Key facts

• Fitness center
• Clubhouse
• New roof

Tags

• NEW ROOF
• CLUBHOUSE
• COMMUNITY POOLS
• FITNESS CENTER

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $119k.

Deal economics

• At list price, monthly cash flow is $-113 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $99k (16.7% below list).
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $99k (16.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 66/100 on livability (#604 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D-, amenities F, commute 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 flat; 852 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 32% of the median local income ($63k/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 $823 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 152 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $14k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $76k; list at $119k implies a 57% 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; major wildfire risk; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,125 (16.7% 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 152 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.44% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.31%
• DSCR: 1.50
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.26% rent growth · sell at horizon

5-year hold

• IRR: -28.7%
• Equity multiple: 0.08×
• Total profit: $-30,616
• Equity at exit: $17,743

10-year hold

• IRR: -66.5%
• Equity multiple: -0.56×
• Total profit: $-51,999
• Equity at exit: $10,289

Cash invested: $33,320 (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 34287

• Home prices YoY: -20.1%
• Rents YoY: 0.3%
• Active inventory: 852
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,709 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$167 /mo · $1,998/yr
• Insurance: −$50
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$196
• Vacancy / Maint / Mgmt: −$359
• Net cashflow: $-113

Break-even live

Break-even rent $1,852

Max offer price $99,125

Occupancy floor —

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $196 · $2,352/yr
• Likely covers: poolgym

Listing history 22 events

1. 2026-06-18
   days on market $119,000 Active 152 DOM
2. 2026-06-17
   days on market $119,000 Active 151 DOM
3. 2026-06-16
   days on market $119,000 Active 150 DOM
4. 2026-06-15
   days on market $119,000 Active 149 DOM
5. 2026-06-13
   days on market $119,000 Active 147 DOM
6. 2026-06-13
   days on market $119,000 Active 146 DOM
7. 2026-06-10
   days on market $119,000 Active 144 DOM
8. 2026-06-09
   days on market $119,000 Active 143 DOM
9. 2026-06-08
   days on market $119,000 Active 142 DOM
10. 2026-06-08
    days on market $119,000 Active 141 DOM
11. 2026-06-05
    days on market $119,000 Active 138 DOM
12. 2026-06-03
    days on market $119,000 Active 137 DOM
13. 2026-06-02
    days on market $119,000 Active 136 DOM
14. 2026-06-01
    days on market $119,000 Active 135 DOM
15. 2026-05-31
    days on market $119,000 Active 134 DOM
16. 2026-03-14
    price $119,000 772-char remark

    Show marketing remark (772 chars)

    Located in the award-winning 55+ community of Harbor Isles in North Port, this double-wide manufactured home offers a great opportunity to create your own Florida retreat. The home is functional and well laid out, featuring generous living spaces, but is ready for cosmetic updates and a little TLC—perfect for buyers who want to add their own finishing touches and build instant equity. A new roof installed in 2025 provides peace of mind and adds significant value. Enjoy the Harbor Isles lifestyle with resort-style amenities including a clubhouse, community pools, marina, fitness center, and an active social calendar. Conveniently located near shopping, dining, medical facilities, and Gulf beaches, this home is an excellent value in a sought-after community.

17. 2026-01-17
    listed $132,500 Active 772-char remark

    Show marketing remark (772 chars)

    Located in the award-winning 55+ community of Harbor Isles in North Port, this double-wide manufactured home offers a great opportunity to create your own Florida retreat. The home is functional and well laid out, featuring generous living spaces, but is ready for cosmetic updates and a little TLC—perfect for buyers who want to add their own finishing touches and build instant equity. A new roof installed in 2025 provides peace of mind and adds significant value. Enjoy the Harbor Isles lifestyle with resort-style amenities including a clubhouse, community pools, marina, fitness center, and an active social calendar. Conveniently located near shopping, dining, medical facilities, and Gulf beaches, this home is an excellent value in a sought-after community.

18. 2024-09-22
    price $159,000
19. 2024-07-31
    price $164,900
20. 2024-03-26
    listed $185,000 Active
21. 2002-06-11
    soldstatus $76,000
22. 1990-11-07
    soldstatus $67,000

ⓘ 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: $1,998 · $167/mo
• Projected year-2 tax: $1,998 · $167/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $20,509
• − Mortgage interest: −$6,666
• − Property taxes: −$1,998
• − Insurance: −$5,714
• − Repairs & maintenance: −$1,641
• − Management: −$1,641
• − HOA: −$2,352
• − Depreciation: −$3,462
• Taxable loss: −$2,964
• Est. tax savings @ 24.0%: +$711
• After-tax cash flow: $-639/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 — Warm Mineral Springs

• Score: 66/100
• State rank: #604
• US rank: #11606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warm Mineral Springs, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 25,929
• Household income: $63,464
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 522.0

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: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 7% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 3% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 3% Lithuanian 3%
• Foreign-born: 16% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 8% Russian/Polish/Slavic 5% French/Haitian/Cajun 2%

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: ▼ -70.89%
• Current HPI: 280.8484
• Rent YoY: ▲ 0.26%
• 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

+77.6% since first listed

7 events — show timeline

• 2026-03-14 Price Changed $119,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-17 Listed $132,500 Stellar MLS as Distributed by MLS Grid
• 2024-09-22 Price Changed $159,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-31 Price Changed $164,900 Stellar MLS as Distributed by MLS Grid
• 2024-03-26 Listed $185,000 Stellar MLS as Distributed by MLS Grid
• 2002-06-11 Sold (Public Records) $76,000 Public Records
• 1990-11-07 Sold (Public Records) $67,000 Public Records

Property tax history

+9.4%/yr

Latest (2025): $1,998 · -5.8% YoY. Source: county tax records.