921 Faith Cir E #6 · Lakewood Ranch, FL 34212

$120,000

1 bd · 1.0 ba · 792 sqft · Manufactured public records · 11 Days on market

Built 1973 $220/mo HOA

---

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 +27.2/30.0
• DSCR +9.5/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +4.4/10.0
• Appreciation +4.1/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.6/5.0

Listing remarks

Under contract-accepting backup offers. East county Christian Retreat on Manatee River Co-Operative community owned land together. Great neighborhood $230 month cover trash, sewer, lawn maintenance, cable, internet. Two bed two bath 3 car carport. Neighborhood includes use of community pool, tennis courts, Waterfront usage.

Key facts

• Community pool
• Waterfront usage
• Community owned land

Tags

• COMMUNITY OWNED LAND
• COMMUNITY POOL
• TENNIS COURTS
• WATERFRONT USAGE

Property features AI

Finance

• Other: Unfurnished; Direction faces: South
• Financial info: Monthly HOA $220 (total monthly fees listed as $220); Total annual HOA fees reported as $2,640; Lease restrictions apply
• HOA & community: Part of the Country Retreat association; Monthly association fee $220; Association fee covers cable TV, internet, common area taxes, maintenance of grounds, sewer and trash; Association approval required; Community amenities: park, playground, pool, tennis courts; Pets allowed

Exterior

• Parking: Covered parking; Carport with 3 spaces
• Utilities: Public water; Private sewer; Cable connected; Electricity connected; Sewer connected; Water connected
• Home design: Mobile home (single wide); One level; South facing; Completed condition; Located in a planned unit development
• Construction: Vinyl siding; Metal roof; Crawlspace foundation; Approximately built area reported by owner
• Exterior features: Private mailbox; Sliding doors; Paved road access; Private maintained road

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Electric dryer hookup; Outdoor laundry access

🏢 Co-op / cooperative unit. The $120,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $344 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 9.7% vs local median 3.3% in Lakewood Ranch — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: Gene Witt Elementary School (math 84% / reading 82%, grade A+, #65 of 2,144 statewide, top 3%, 689 students, 24% FRL); Parrish Community High School (math 47% / reading 57%, grade D+, #160 of 667 statewide, top 25%, 2,017 students, 32% FRL) — zoned schools average 28% FRL vs 51% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 68% at this address vs 52% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Manatee average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents falling (-3.4%/yr); 479 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• This rent is only 16% of the median local income ($125k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $830 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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $63k; list at $120k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $120,000

Questions for the listing agent

1. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.38% ✓
• Cap rate: 9.73%
• Cash-on-cash: 12.29%
• DSCR: 1.55
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.82% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 2.8%
• Equity multiple: 1.11×
• Total profit: $3,751
• Equity at exit: $24,315

10-year hold

• IRR: 7.2%
• Equity multiple: 1.55×
• Total profit: $18,557
• Equity at exit: $21,750

Cash invested: $33,600 (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 34212

• Home prices YoY: -0.7%
• Rents YoY: -3.4%
• Active inventory: 479
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,661 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$69 /mo · $828/yr
• Insurance: −$50
• HOA: −$220
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $344

Break-even live

Break-even rent $1,226

Max offer price $120,000

Occupancy floor 74%

Sensitivity live

Price	-10% $412	-5% $378	+0% $344	+5% $310	+10% $276
Rent	-10% $213	-5% $278	+0% $344	+5% $410	+10% $475
Rate	-1.0pp $405	-0.5pp $375	base $344	+0.5pp $313	+1.0pp $281

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1112 Hagle Park Rd Unit 1114 Bradenton, FL	2.0	1.0	812	$1,550	$1.91	16d	1	0.99mi

HOA detail

• Monthly dues: $220 · $2,640/yr
• Likely covers: watersewertrashinternetcablepool

Listing history 10 events

1. 2026-06-15
   remarks 325-char remark
2. 2026-06-15
   status $120,000 Pending 11 DOM
3. 2026-06-13
   days on market $120,000 Active 11 DOM
4. 2026-06-13
   days on market $120,000 Active 10 DOM
5. 2026-06-10
   days on market $120,000 Active 8 DOM
6. 2026-06-09
   days on market $120,000 Active 7 DOM
7. 2026-06-08
   days on market $120,000 Active 6 DOM
8. 2026-06-07
   days on market $120,000 Active 5 DOM
9. 2026-06-02
   remarks 285-char remark
10. 2026-06-02
    listed $120,000 Active 1 DOM

ⓘ 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: $828 · $69/mo
• Projected year-2 tax: $996 · $83/mo
• Expected delta: +$168/yr (+$14/mo · 20.2%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,936
• − Mortgage interest: −$6,722
• − Property taxes: −$828
• − Insurance: −$600
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − HOA: −$2,640
• − Depreciation: −$3,491
• Taxable income: $2,465
• Est. tax owed @ 24.0%: −$592
• After-tax cash flow: $3,538/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 — Lakewood Ranch

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Manatee County · 416,364 people
• City population: 52,177
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 25,536
• Household income: $125,486
• Rent vs Own: 15.3% rent · 84.7% own
• Severe rent burden: 383.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 10% Two or more races 8% Black 3% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 9% · Canada, Vietnam, China
• Languages at home: 89% English-only · Spanish 6% Other Indo-European 2% Vietnamese 2%

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: ▼ -1.82%
• Current HPI: 276.7636
• Rent YoY: ▼ -3.44%
• 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

+328.6% since first listed

3 events — show timeline

• 2026-06-02 Listed $120,000 Stellar MLS as Distributed by MLS Grid
• 2004-05-28 Sold (Public Records) $63,000 Public Records
• 2002-05-17 Sold (Public Records) $28,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $828 · -1.8% YoY. Source: county tax records.