5910 Majestic Way · Ellenton, FL 34221

$225,000

2 bd · 1.0 ba · 1,420 sqft · Manufactured public records · 100 Days on market

Built 1988 0.33 ac lot Est $203k · 11% over $190/mo HOA · 9% of rent

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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 +13.0/30.0
• 1% rule +4.8/10.0
• Schools +4.4/10.0
• DSCR +3.9/10.0
• Livability +3.8/5.0
• ARV discount +2.6/15.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Life at Imperial Lakes moves at exactly the pace you set. This land-owned, pet-friendly 55+ community spreads across 65 quiet, park-like acres in Palmetto, with enough going on that boredom is genuinely not an option. Two heated pools, a spa, pickleball, tennis, shuffleboard, bocce ball, a private lake with community boat ramp access, and a clubhouse running darts, bingo, poker, and card games year-round. A full social calendar when you want it, or a quiet Tuesday morning with nothing but birdsong behind you when you don't. The home is genuinely move-in ready. Hurricane-impact windows replaced two years ago, a new water heater, new entry door, updated flooring throughout, all-new appliances

Key facts

• Heated pools
• Pet-friendly
• Clubhouse

Tags

• LAND-OWNED
• PET-FRIENDLY
• HEATED POOLS
• PRIVATE LAKE
• COMMUNITY BOAT RAMP ACCESS
• CLUBHOUSE

Property features AI

Finance

• Other: Lease restrictions apply; Furniture available for separate purchase
• Financial info: Monthly condo/association fee: $190 (monthly); Total annual fees: $2,280
• HOA & community: Community association (Darcy Branch) with monthly fee of $190; Association fee includes cable TV, pool, internet, common area taxes and grounds maintenance; Buyer approval required for association; Association recreation owned; Fitness center; Pool; Tennis courts; Golf carts allowed; Deed restrictions; Senior community; Pets allowed (max 25 lbs)

Exterior

• Parking: Driveway; Carport with 2 spaces
• Utilities: Public water; Public sewer; Broadband/high-speed internet available; Cable available and connected; Electricity connected; Irrigation equipment
• Home design: Manufactured double-wide home; One story; Faces east; Residential property
• Construction: Frame construction; Membrane roof; Crawlspace foundation; Built as a double wide
• Exterior features: Covered, enclosed patio; Patio; Exterior lighting; Sliding doors; Exterior storage; Shed(s); Workshop; Private boat ramp; Lake access; In-ground heated pool with deck, gunite finish, lighting and outside bath access; In-ground heated spa

Interior

• Kitchen: Dishwasher; Range; Range hood; Refrigerator; Electric water heater
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Ceramic tile; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning
• Interior features: Built-in features; Ceiling fans; Kitchen/family room combo; Living room/dining room combo; Open floor plan; Solid surface counters; Solid wood cabinets; Thermostat; Vaulted ceilings; Walk-in closets
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $225k.

Deal economics

• At list price, monthly cash flow is $-11 ($-127/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (2.4% below list).
• Recommended offer: $205k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 4.5% in Ellenton — 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 76/100 on livability (#232 in FL, #3,666 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: 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.
• Zoned schools: Virgil Mills Elementary School (math 69% / reading 65%, grade B+, #450 of 2,144 statewide, top 22%, 818 students, 43% FRL); Buffalo Creek Middle School (math 59% / reading 51%, grade B-, #180 of 571 statewide, top 32%, 1,127 students, 44% FRL); Palmetto High School (math 22% / reading 36%, grade F, #456 of 667 statewide, top 68%, 2,100 students, 61% FRL) — zoned schools at 50% FRL track the district average.
• Market conditions: Rents soft (-3.0%/yr); 1170 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 34% of the median local income ($78k/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 $2k of loan paydown is wiped out by about $7k 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 100 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 22y 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 $152k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $204,750 (9.0% 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 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 0.98% ✗
• Cap rate: 6.24%
• Cash-on-cash: -0.20%
• DSCR: 0.99
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $203,060
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8523 Countess Avenue Cir	0.26mi	2/2.0	1,431 (+1%)	5mo	$207,500	$145	79
8402 Imperial Cir	0.19mi	2/2.0	1,340 (-6%)	3mo	$198,000	$148	76
8466 Imperial Cir	0.19mi	2/2.0	1,502 (+6%)	4mo	$180,000	$120	74
8427 Castle Garden Rd	0.14mi	2/2.0	1,296 (-9%)	3mo	$185,000	$143	72
8308 Princess Ct	0.39mi	2/2.0	1,456 (+2%)	3mo	$180,000	$124	71
8509 Monarch Pl	0.30mi	2/2.0	1,352 (-5%)	3mo	$255,000	$189	71
8434 Imperial Cir	0.14mi	2/2.0	1,536 (+8%)	7mo	$187,500	$122	70
8416 Imperial Cir	0.13mi	2/2.0	1,260 (-11%)	5mo	$175,000	$139	67
8400 Princess Ct	0.38mi	3/2.0 (+1)	1,456 (+2%)	4mo	$185,000	$127	66
8485 Imperial Cir	0.25mi	2/2.0	1,592 (+12%)	3mo	$160,000	$101	62
8531 Imperial Cir	0.34mi	2/2.0	1,274 (-10%)	6mo	$225,000	$177	58
8521 Countess Avenue Cir	0.26mi	3/2.0 (+1)	1,596 (+12%)	2mo	$235,000	$147	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: -20.4%
• Equity multiple: 0.31×
• Total profit: $-43,417
• Equity at exit: $33,548

10-year hold

• IRR: -23.6%
• Equity multiple: 0.00×
• Total profit: $-62,928
• Equity at exit: $19,454

Cash invested: $63,000 (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: 1170
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,195 high
• Mortgage (P&I): −$1,180
• Tax est. 1.5%: −$281 /mo · $3,375/yr
• Insurance: −$94
• HOA: −$190
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $-11

Break-even live

Break-even rent $2,209

Max offer price $223,471

Occupancy floor 95%

Sensitivity live

Price	-10% $145	-5% $67	+0% $-11	+5% $-88	+10% $-166
Rent	-10% $-184	-5% $-97	+0% $-11	+5% $76	+10% $163
Rate	-1.0pp $103	-0.5pp $47	base $-11	+0.5pp $-69	+1.0pp $-128

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9650 52nd Ave E Palmetto, FL	1.0–3.0	1.0–2.0	1050	$1,958	$1.87	25d	99	0.80mi
5871 Bungalow Grove Ct Palmetto, FL	3.0	2.0	1492	$2,185	$1.46	23d	1	0.99mi
5020 Cedar Leaf Cir Palmetto, FL	1.0–2.0	1.0–2.0	873	$2,495	$2.86	0d	18	1.01mi
6210 Terra Lago Cir Palmetto, FL	1.0–3.0	1.0–2.0	1015	$1,962	$1.93	5d	50	1.07mi
4117 84th Ct E Palmetto, FL	3.0	2.0	1448	$2,466	$1.70	23d	1	1.13mi
7562 Sea Oak Ct Palmetto, FL	3.0	2.0	1433	$2,400	$1.67	23d	1	1.16mi
7566 Sea Oak Ct Palmetto, FL	3.0	2.5	1807	$2,700	$1.49	23d	1	1.16mi
9117 Optimist Way Palmetto, FL	2.0	2.0	1489	$2,200	$1.48	25d	1	1.19mi
4014 84th Ct E Palmetto, FL	3.0	2.0	1555	$2,516	$1.62	23d	1	1.22mi
6249 Fairmont Ln Palmetto, FL	2.0	2.5	1200	$1,890	$1.57	16d	1	1.31mi
6256 Fairmont Ln Palmetto, FL	2.0	2.5	1216	$1,845	$1.52	16d	1	1.34mi
6334 Fairmont Ln Palmetto, FL	2.0	2.5	1235	$1,795	$1.45	5d	1	1.34mi
6354 Fairmont Ln Palmetto, FL	2.0	2.5	1123	$2,000	$1.78	25d	1	1.35mi
6345 Willowside St Palmetto, FL	3.0	2.5	1407	$2,200	$1.56	25d	1	1.37mi
9207 Bonita Mar Dr Parrish, FL	3.0	2.5	1666	$2,275	$1.37	25d	1	1.49mi
6109 63rd Ave E Palmetto, FL	3.0	2.0	1295	$1,950	$1.51	0d	1	1.50mi

HOA detail

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

Listing history 41 events

1. 2026-06-22
   days on market $225,000 Active 100 DOM
2. 2026-06-18
   days on market $225,000 Active 97 DOM
3. 2026-06-17
   days on market $225,000 Active 96 DOM
4. 2026-06-16
   days on market $225,000 Active 95 DOM
5. 2026-06-15
   days on market $225,000 Active 94 DOM
6. 2026-06-13
   days on market $225,000 Active 92 DOM
7. 2026-06-13
   days on market $225,000 Active 91 DOM
8. 2026-06-10
   days on market $225,000 Active 89 DOM
9. 2026-06-09
   days on market $225,000 Active 88 DOM
10. 2026-06-08
    days on market $225,000 Active 87 DOM
11. 2026-06-08
    days on market $225,000 Active 86 DOM
12. 2026-06-03
    days on market $225,000 Active 82 DOM
13. 2026-06-02
    days on market $225,000 Active 81 DOM
14. 2026-06-01
    days on market $225,000 Active 80 DOM
15. 2026-05-31
    days on market $225,000 Active 79 DOM
16. 2026-04-13
    price $225,000
17. 2026-03-13
    listed $235,000 Active
18. 2026-02-26
    historical
19. 2026-01-12
    price $235,000
20. 2025-09-10
    price $255,000
21. 2025-09-10
    listed $255,000 Active
22. 2025-09-04
    historical
23. 2025-05-15
    price $265,000
24. 2025-04-24
    price $270,000
25. 2025-04-01
    listed $275,000 Active
26. 2016-12-20
    soldstatus $152,000
27. 2016-12-15
    soldstatus $152,000 Sold
28. 2016-11-14
    status Pending
29. 2016-10-31
    listed $154,000 Active
30. 2013-12-04
    soldstatus $109,000
31. 2012-02-15
    listed $118,000
32. 2007-05-23
    soldstatus $105,000
33. 2007-05-21
    soldstatus $105,000
34. 2007-04-05
    listed $119,900
35. 2006-06-07
    listed $119,900
36. 2006-04-05
    listed $159,900
37. 2004-09-09
    soldstatus $137,000
38. 2004-09-03
    soldstatus $139,000
39. 2004-07-14
    listed $140,000
40. 2001-04-18
    soldstatus $91,000
41. 1988-11-09
    soldstatus $76,600

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $26,345
• − Mortgage interest: −$12,603
• − Property taxes: −$3,375
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,108
• − Management: −$2,108
• − HOA: −$2,280
• − Depreciation: −$6,545
• Taxable loss: −$3,799
• Est. tax savings @ 24.0%: +$912
• After-tax cash flow: $785/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 — Ellenton

• Score: 76/100
• State rank: #232
• US rank: #3666

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Manatee County · 416,364 people
• 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

+193.7% since first listed

26 events — show timeline

• 2026-04-13 Price Changed $225,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-13 Listed $235,000 Stellar MLS as Distributed by MLS Grid
• 2026-02-26 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2026-01-12 Price Changed $235,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-10 Price Changed $255,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-10 Listed $255,000 Stellar MLS as Distributed by MLS Grid
• 2025-09-04 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-05-15 Price Changed $265,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-24 Price Changed $270,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-01 Listed $275,000 Stellar MLS as Distributed by MLS Grid
• 2016-12-20 Sold (Public Records) $152,000 Public Records
• 2016-12-15 Sold (MLS) $152,000 Stellar MLS as Distributed by MLS Grid
• 2016-11-14 Pending — Stellar MLS as Distributed by MLS Grid
• 2016-10-31 Listed $154,000 Stellar MLS as Distributed by MLS Grid
• 2013-12-04 Sold (Public Records) $109,000 Public Records
• 2012-02-15 Listed $118,000 Stellar MLS as Distributed by MLS Grid
• 2007-05-23 Sold (Public Records) $105,000 Public Records
• 2007-05-21 Sold (MLS) $105,000 Stellar MLS as Distributed by MLS Grid
• 2007-04-05 Listed $119,900 Stellar MLS as Distributed by MLS Grid
• 2006-06-07 Listed $119,900 Stellar MLS as Distributed by MLS Grid
• 2006-04-05 Listed $159,900 Stellar MLS as Distributed by MLS Grid
• 2004-09-09 Sold (Public Records) $137,000 Public Records
• 2004-09-03 Sold (MLS) $139,000 Stellar MLS as Distributed by MLS Grid
• 2004-07-14 Listed $140,000 Stellar MLS as Distributed by MLS Grid
• 2001-04-18 Sold (Public Records) $91,000 Public Records
• 1988-11-09 Sold (Public Records) $76,600 Public Records

Property tax history

-6.6%/yr

Latest (2025): $264 · +7.5% YoY. Source: county tax records.