6241 Elm Ln · Seminole Manor, FL 33462

$33,000

2 bd · 1.5 ba · 850 sqft · Manufactured · 227 Days on market

Built 1970 ↓ 18% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.3/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover comfort and charm in this beautifully decorated 2-bedroom, 1.5-bath manufactured home located in the highly desirable Maralago Cay community. This home makes the most of every inch of its square footage with a bright, open layout and tasteful finishes throughout. Enjoy your morning coffee or evening breeze from the quiet back patio overlooking lush landscaping, and take advantage of the extra parking space for guests. The versatile Florida room can easily be converted into a third bedroom or opened up to take in scenic clubhouse views. Lot rent of 1,396.35/month includes full access to community amenities, lawn care, trash removal, and more. Experience easy, carefree living in this

Key facts

• Extra parking space
• Florida room
• Clubhouse views

Tags

• BACK PATIO
• FLORIDA ROOM
• EXTRA PARKING SPACE
• CLUBHOUSE VIEWS
• LUSH LANDSCAPING

Property features AI

Finance

• Other: Pets allowed (restrictions may apply)
• HOA & community: Senior community; Community amenities include billiard room, clubhouse, fitness center, game room, park, picnic area, pool, shuffleboard court, tennis courts, community room, library, and pickleball courts; Association covers maintenance of grounds and trash

Exterior

• Parking: Attached carport (covered); 1 carport space and 2 open parking spaces
• Utilities: Well water; Three-phase electric; Cable available; Water service available
• Home design: Mobile home (modular construction); Single-story; Entry level living area; Faces east
• Construction: Manufactured roof; Modular construction
• Exterior features: Open patio; Patio

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom; 1 half bathroom (2 total bathrooms)
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Walk-in closets; Stacked bedroom layout; Partially furnished
• Laundry & utility: Laundry closet inside the home

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath manufactured listed at $33k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $33k).
• Recommended offer: $29k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 63/100 on livability (#711 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, cost of living A; Watch: amenities F, commute F, employment F.
• Palm Beach (suburban): math 46% / reading 53% proficiency, ranked #34 of 73 in FL (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Starlight Cove Elementary School (math 40% / reading 31%, grade F, #1,684 of 2,144 statewide, top 79%, 737 students, 77% FRL); Tradewinds Middle School (math 25% / reading 35%, grade F, #468 of 571 statewide, top 82%, 912 students, 74% FRL); Santaluces Community High (math 22% / reading 39%, grade F, #434 of 667 statewide, top 66%, 2,675 students, 61% FRL) — zoned schools average 71% FRL vs 52% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 32% at this address vs 50% district-wide (-18 pts) — the specific schools serving this property underperform the Palm Beach average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.1%/yr); 383 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 3,974 units permitted in Palm Beach County in 2024 (1,012 in 5+ unit buildings).
• This rent runs 36% of the median local income ($74k/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 $228 of loan paydown is wiped out by about $990 of value loss. Plan a longer hold.
• Palm Beach County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 227 days — a 12% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $7k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 227 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
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: 6.71% ✓
• Cap rate: 61.64%
• Cash-on-cash: 197.65%
• DSCR: 9.79
• GRM: 1.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.09% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 11.18×
• Total profit: $94,075
• Equity at exit: $4,920

10-year hold

• IRR: —
• Equity multiple: 24.50×
• Total profit: $217,174
• Equity at exit: $2,853

Cash invested: $9,240 (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 33462

• Rents YoY: 4.1%
• Active inventory: 383
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $2,215 high
• Mortgage (P&I): −$173
• Tax est. 1.5%: −$41 /mo · $495/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $1,522

Break-even live

Break-even rent $289

Max offer price $33,000

Occupancy floor 26%

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: $8,250
• Closing costs: $990
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
580 Tallulah Rd Lake Worth, FL	2.0	1.0	750	$2,500	$3.33	22d	1	0.35mi
6511 Seminole Dr Unit 2 Atlantis, FL	2.0	1.0	845	$2,150	$2.54	5d	1	0.50mi
4350 Peregrine Way Lake Worth, FL	1.0–3.0	1.0–2.0	1025	$2,704	$2.64	2d	18	0.70mi
7132 Colony Club Dr Lake Worth, FL	1.0–3.0	1.0–2.0	1087	$2,510	$2.31	2d	14	1.01mi
5056 Lantana Rd #4302 Lake Worth, FL	2.0	2.0	979	$2,295	$2.34	8d	1	1.06mi
5048 Lantana Rd #5112 Lake Worth, FL	3.0	2.0	1115	$2,200	$1.97	8d	1	1.11mi
5064 Lantana Rd #6203 Lake Worth, FL	2.0	2.0	929	$2,100	$2.26	24d	1	1.12mi
4725 Via Bari Lake Worth, FL	1.0–3.0	1.0–2.0	1150	$2,290	$1.99	3d	10	1.13mi
6289 Lear Dr Lake Worth, FL	1.0–3.0	1.0–2.0	792	$1,975	$2.49	15d	2	1.23mi
6289 Lear Dr #203 Lake Worth, FL	3.0	2.0	1044	$2,200	$2.11	24d	1	1.23mi
6175 Reflections Blvd Lake Worth, FL	1.0–2.0	1.0–2.0	814	$2,307	$2.83	2d	15	1.31mi
712 Meadows Cir Boynton Beach, FL	2.0	2.0	921	$2,400	$2.61	24d	1	1.32mi
1106 Meadows Cir Boynton Beach, FL	2.0	2.0	900	$1,895	$2.11	22d	1	1.36mi
1106 Meadows Cir Boynton Beach, FL	2.0	2.0	900	$1,850	$2.06	3d	1	1.36mi
316 Meadows Cir #316 Boynton Beach, FL	2.0	2.0	921	$2,100	$2.28	2d	1	1.37mi
1205 Meadows Cir Boynton Beach, FL	2.0	2.0	909	$1,900	$2.09	24d	1	1.37mi
1120 Meadows Cir Unit 1120 Boynton Beach, FL	2.0	2.0	900	$1,980	$2.20	24d	1	1.37mi
1707 Meadows Cir W Unit W Boynton Beach, FL	1.0	1.0	704	$1,650	$2.34	3d	1	1.37mi
1617 Meadows Cir W Boynton Beach, FL	1.0	1.0	704	$1,700	$2.41	11d	1	1.37mi
1722 Meadows Cir #1722 Boynton Beach, FL	1.0	1.0	704	$1,700	$2.41	15d	1	1.39mi
1722 Meadows Cir #1722 Boynton Beach, FL	1.0	1.0	704	$1,700	$2.41	17d	1	1.39mi
4863 Gulfstream Rd Lake Worth Beach, FL	3.0	1.0	1050	$2,200	$2.10	24d	1	1.50mi

Listing history 29 events

1. 2026-06-18
   days on market $33,000 Active 227 DOM
2. 2026-06-17
   days on market $33,000 Active 226 DOM
3. 2026-06-16
   days on market $33,000 Active 225 DOM
4. 2026-06-15
   days on market $33,000 Active 224 DOM
5. 2026-06-13
   days on market $33,000 Active 222 DOM
6. 2026-06-09
   days on market $33,000 Active 218 DOM
7. 2026-06-07
   days on market $33,000 Active 216 DOM
8. 2026-06-04
   days on market $33,000 Active 213 DOM
9. 2026-06-03
   days on market $33,000 Active 212 DOM
10. 2026-06-01
    days on market $33,000 Active 210 DOM
11. 2026-05-31
    days on market $33,000 Active 209 DOM
12. 2026-04-22
    price $33,000
13. 2026-03-03
    status Active
14. 2026-03-03
    historical
15. 2026-02-01
    price $35,000
16. 2025-11-03
    listed $40,000 Active
17. 2023-04-29
    historical
18. 2023-04-18
    price $55,000
19. 2023-03-28
    price $62,000
20. 2023-02-23
    price $65,000
21. 2022-11-17
    price $77,000
22. 2022-11-11
    status Active
23. 2022-11-07
    historical
24. 2022-10-29
    listed $82,500 Active
25. 2022-09-16
    historical
26. 2022-09-06
    listed $79,999 Active
27. 2022-04-13
    status Pending
28. 2022-04-12
    historical
29. 2022-02-26
    listed $40,000 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥105°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,582
• − Mortgage interest: −$1,849
• − Property taxes: −$495
• − Insurance: −$165
• − Repairs & maintenance: −$2,127
• − Management: −$2,127
• − Depreciation: −$960
• Taxable income: $18,861
• Est. tax owed @ 24.0%: −$4,527
• After-tax cash flow: $13,737/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: Palm Beach
• NCES district ID: 1201500
• Math proficiency: 46% ▼ -16.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $53,943
• Composite: 42.72/100
• National rank: #3160
• State rank: #34 of 73 in FL

Livability — Seminole Manor

• Score: 63/100
• State rank: #711
• US rank: #15076

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Palm Beach County · 1,438,312 people
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 33,371
• Household income: $73,997
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1852.0

Population outlook (Palm Beach County) Hauer SSP2

• Today (2025): 1,637,487 people
• By 2030: 1,743,255 · +6.5%
• By 2040: 1,948,712 · +19.0%
• By 2050: 2,132,979 · +30.3%
• By 2075: 2,530,027 · +54.5%
• By 2100: 2,706,979 · +65.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 44% Black 26% Hispanic / Latino 26% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 5% Cuban 3%
• Common ancestry: Hispanic 14% Romanian 2% Scotch-Irish 2%
• Foreign-born: 31% · Canada, Jamaica, Dominican Republic
• Languages at home: 60% English-only · Spanish 20% French/Haitian/Cajun 16% Other Indo-European 1%

Political lean MEDSL · Palm Beach

• 2024 margin: Toss-up / Even · D 50.0% · R 49.2%
• 2008→2024 swing: -22.1pp toward R · 2008: 22.9pp · 2024: 0.8pp
• All cycles: 2024: D+0.8 2020: D+12.8 2016: D+15.3 2012: D+17.0 2008: D+22.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -295.48%
• Current HPI: 361.5391
• Rent YoY: ▲ 4.09%
• Metro: Miami-Fort Lauderdale-Pompano Beach, 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

-17.5% since first listed

18 events — show timeline

• 2026-04-22 Price Changed $33,000 Beaches MLS
• 2026-03-03 Relisted — Beaches MLS
• 2026-03-03 Listing Removed — Beaches MLS
• 2026-02-01 Price Changed $35,000 Beaches MLS
• 2025-11-03 Listed $40,000 Beaches MLS
• 2023-04-29 Listing Removed — MCRTC
• 2023-04-18 Price Changed $55,000 MCRTC
• 2023-03-28 Price Changed $62,000 MCRTC
• 2023-02-23 Price Changed $65,000 MCRTC
• 2022-11-17 Price Changed $77,000 MCRTC
• 2022-11-11 Relisted — MCRTC
• 2022-11-07 Listing Removed — MCRTC
• 2022-10-29 Listed $82,500 MCRTC
• 2022-09-16 Listing Removed — MARMLS
• 2022-09-06 Listed $79,999 MARMLS
• 2022-04-13 Pending — Beaches MLS
• 2022-04-12 Listing Removed — Beaches MLS
• 2022-02-26 Listed $40,000 Beaches MLS