11898 SW 36th Way · Ridge Manor, FL 33597

$237,900

3 bd · 2.0 ba · 1,400 sqft · Manufactured public records · 28 Days on market

Built 1996 0.42 ac lot Est $225k · 6% over

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Why this score? — see what drove the D- 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 +12.6/30.0
• Schools +5.2/10.0
• ARV discount +5.0/15.0
• DSCR +3.8/10.0
• Livability +3.2/5.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the country in a wooded area on over 1/4 of an acre. Needs some TLC. Is perfect for an investor or someone who is handy that wants to live out of city with NO HOA and a little extra privacy. There is a shed on property for extra storage. You could also park your recreational vehicle on property. Possible rent to own subject to seller approval.

Key facts

• New metal roof
• Fully remodeled
• New water heater

Tags

• FULLY REMODELED
• CHAIN-LINK FENCED YARD
• NEW METAL ROOF
• NEW AIR CONDITIONING SYSTEM
• NEW WATER HEATER
• NEW APPLIANCES

Property features AI

Finance

• Other: Home warranty included
• Financial info: No lease restrictions
• HOA & community: No HOA

Exterior

• Parking: No specific parking information provided
• Security: Smoke detector(s)
• Utilities: Well water; Septic tank; Broadband/high-speed internet available; Cable available; Electricity connected; Phone available; Water connected
• Home design: Manufactured double-wide home; One level; Faces east; Entry via front porch
• Construction: Vinyl siding with frame construction; Metal roof; Crawlspace foundation; Built in 1 structure (double wide)
• Exterior features: Front porch; Porch; Deck; Chain-link fenced yard; Cleared lot; In-county location; Oak trees on property; Dirt road access (private maintained road)

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator; Electric water heater
• Bedrooms: 3 bedrooms
• Flooring: Ceramic tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Built-in features; Ceiling fans; Eat-in kitchen; High ceilings; Kitchen/family room combo; Open floorplan; Solid surface counters; Split bedroom layout; Thermostat; Window treatments; Blinds; Smoke detector(s)
• Laundry & utility: Inside laundry room with washer and electric dryer hookups; Inside utility

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $238k.

Deal economics

• At list price, monthly cash flow is $-31 ($-366/yr) — negative.
• To cash-flow at today's rent, offer at most $233k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (25.3% below list).
• Recommended offer: $178k (25.3% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.3% in Ridge Manor — 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 63/100 on livability (#736 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: health & safety C-, employment D, amenities F.
• Sumter (rural): math 61% / reading 61% proficiency, ranked #11 of 73 in FL (top 15%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Webster Elementary School (math 61% / reading 51%, grade C+, #832 of 2,144 statewide, top 40%, 748 students, 68% FRL); South Sumter High School (math 33% / reading 48%, grade F, #294 of 667 statewide, top 44%, 1,045 students, 52% FRL).
• Zoned-school proficiency averages 48% at this address vs 61% district-wide (-13 pts) — the specific schools serving this property underperform the Sumter average; the district grade overstates school quality for this exact location.
• Market conditions: 302 active listings in the ZIP; 3,961 units permitted in Sumter County in 2024 (248 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Sumter County population projected at +45% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($234k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $50k; list at $238k implies a 376% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,771 (25.3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.75% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.55%
• DSCR: 0.98
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $225,400
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3440 CR 656	0.21mi	3/2.0	1,248 (-11%)	1mo	$230,000	$184	71
11916 SW 36th Ter	0.07mi	3/2.0	1,196 (-15%)	11mo	$193,000	$161	64
11587 CR 675w	0.47mi	3/2.0	1,248 (-11%)	14mo	$168,225	$135	49

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-40,595
• Equity at exit: $35,472

10-year hold

• IRR: -9.3%
• Equity multiple: 0.43×
• Total profit: $-38,265
• Equity at exit: $20,569

Cash invested: $66,612 (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 33597

• Home prices YoY: -5.2%
• Active inventory: 302
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,778 medium
• Mortgage (P&I): −$1,248
• Tax from tax record: −$88 /mo · $1,058/yr
• Insurance: −$99
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $-31

Break-even live

Break-even rent $1,816

Max offer price $232,509

Occupancy floor 97%

Sensitivity live

Price	-10% $104	-5% $37	+0% $-31	+5% $-98	+10% $-165
Rent	-10% $-171	-5% $-101	+0% $-31	+5% $40	+10% $110
Rate	-1.0pp $89	-0.5pp $30	base $-31	+0.5pp $-92	+1.0pp $-155

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: $59,475
• Closing costs: $7,137
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-17
   status $237,900 Pending 28 DOM
2. 2026-06-16
   days on market $237,900 Active 28 DOM
3. 2026-06-15
   days on market $237,900 Active 27 DOM
4. 2026-06-14
   days on market $237,900 Active 25 DOM
5. 2026-06-13
   days on market $237,900 Active 24 DOM
6. 2026-06-10
   days on market $237,900 Active 22 DOM
7. 2026-06-09
   days on market $237,900 Active 21 DOM
8. 2026-06-08
   days on market $237,900 Active 20 DOM
9. 2026-06-07
   pricedays on market $237,900 Active 19 DOM
10. 2026-06-02
    days on market $239,900 Active 14 DOM
11. 2026-06-01
    days on market $239,900 Active 13 DOM
12. 2026-05-31
    days on market $239,900 Active 12 DOM
13. 2026-05-30
    days on market $239,900 Active 11 DOM
14. 2026-05-19
    listed $239,900 Active
15. 2025-10-14
    status Pending
16. 2025-09-19
    price $80,000
17. 2025-09-18
    status Active
18. 2025-08-31
    status Pending
19. 2025-07-31
    listed $119,000 Active
20. 2018-02-27
    soldstatus $50,000 Sold 356-char remark

    Show marketing remark (356 chars)

    Located in the country in a wooded area on over 1/4 of an acre. Needs some TLC. Is perfect for an investor or someone who is handy that wants to live out of city with NO HOA and a little extra privacy. There is a shed on property for extra storage. You could also park your recreational vehicle on property. Possible rent to own subject to seller approval.

21. 2018-02-03
    status Pending 356-char remark

    Show marketing remark (356 chars)

    Located in the country in a wooded area on over 1/4 of an acre. Needs some TLC. Is perfect for an investor or someone who is handy that wants to live out of city with NO HOA and a little extra privacy. There is a shed on property for extra storage. You could also park your recreational vehicle on property. Possible rent to own subject to seller approval.

22. 2018-01-28
    listed $52,000 Active 356-char remark

    Show marketing remark (356 chars)

    Located in the country in a wooded area on over 1/4 of an acre. Needs some TLC. Is perfect for an investor or someone who is handy that wants to live out of city with NO HOA and a little extra privacy. There is a shed on property for extra storage. You could also park your recreational vehicle on property. Possible rent to own subject to seller approval.

23. 2006-12-13
    listed $79,900
24. 2006-09-21
    soldstatus $50,000
25. 2006-06-19
    listed $54,000
26. 1979-05-01
    soldstatus $15,000

ⓘ 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: $1,058 · $88/mo
• Projected year-2 tax: $1,975 · $165/mo
• Expected delta: +$916/yr (+$76/mo · 86.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,333
• − Mortgage interest: −$13,326
• − Property taxes: −$1,058
• − Insurance: −$1,190
• − Repairs & maintenance: −$1,707
• − Management: −$1,707
• − Depreciation: −$6,921
• Taxable loss: −$4,575
• Est. tax savings @ 24.0%: +$1,098
• After-tax cash flow: $732/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: Sumter
• NCES district ID: 1201800
• Math proficiency: 61% ▼ -4.00%
• Reading proficiency: 61% ▼ -2.00%
• Median HH income: $48,240
• Composite: 51.74/100
• National rank: #1682
• State rank: #11 of 73 in FL

Livability — Ridge Manor

• Score: 63/100
• State rank: #736
• US rank: #15912

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 9,424

Population outlook (Sumter County) Hauer SSP2

• Today (2025): 161,172 people
• By 2030: 180,083 · +11.7%
• By 2040: 209,892 · +30.2%
• By 2050: 234,186 · +45.3%
• By 2075: 284,602 · +76.6%
• By 2100: 317,039 · +96.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Hispanic / Latino 15% Two or more races 8% Black 4% Native American 2%
• Hispanic origin (detail): Mexican 9% Cuban 2%
• Common ancestry: Serbian 3% Italian 2% Iranian 2%
• Foreign-born: 9% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 9%

Political lean MEDSL · Sumter

• 2024 margin: Solid R (+37.6) · D 30.9% · R 68.6%
• 2008→2024 swing: -10.6pp toward R · 2008: -27.0pp · 2024: -37.6pp
• All cycles: 2024: R+37.6 2020: R+36.1 2016: R+39.2 2012: R+34.9 2008: R+27.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.59%
• Current HPI: 282.5139
• Rent YoY: —
• Metro: —
• 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

+1499.3% since first listed

13 events — show timeline

• 2026-05-19 Listed $239,900 Stellar MLS as Distributed by MLS Grid
• 2025-10-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-09-19 Price Changed $80,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-18 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-08-31 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-07-31 Listed $119,000 Stellar MLS as Distributed by MLS Grid
• 2018-02-27 Sold (MLS) $50,000 Stellar MLS as Distributed by MLS Grid
• 2018-02-03 Pending — Stellar MLS as Distributed by MLS Grid
• 2018-01-28 Listed $52,000 Stellar MLS as Distributed by MLS Grid
• 2006-12-13 Listed $79,900 Stellar MLS as Distributed by MLS Grid
• 2006-09-21 Sold (MLS) $50,000 Stellar MLS as Distributed by MLS Grid
• 2006-06-19 Listed $54,000 Stellar MLS as Distributed by MLS Grid
• 1979-05-01 Sold (Public Records) $15,000 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,058 · +7.5% YoY. Source: county tax records.