11231 NW 114th Ct · Manatee Road, FL 32626

$187,500

3 bd · 2.0 ba · 1,404 sqft · Manufactured public records · 69 Days on market

Built 2020 8,276 sqft lot Est $167k · 12% over $4/mo HOA

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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 +18.5/30.0
• DSCR +5.8/10.0
• 1% rule +4.7/10.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

55 Plus community -This immaculate mobile home is a 2020 TOWN HOME that was placed on the lot by the current owner. The home has 2X6 walls, upgraded insulation and dual pane windows. The home features a split bedroom plan with large master suite. Utility room is accessed off kitchen as well as off the master bath. Master bath has a shower with a built in seat and second bath has a tub/shower combination. Kitchen is a cooks dream with large center island and walk-in pantry. Home is carpet free with vinyl tile throughout so very pet friendly. Concrete paved driveway from street and carport cover for single car. Nice 10X10 storage building for all your extra things. Handicap ramp for ease of access. This is really a "Must See" to appreciate.

Key facts

• Utility room
• Move in ready
• Completely furnished

Tags

• TURN KEY
• MOVE IN READY
• COMPLETELY FURNISHED
• LARGE EAT-AT ISLAND
• WALK-IN PANTRY
• UTILITY ROOM

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Homeowners association with $50 annual fee (about $4.17/month); Located in Springside Adult Park

Exterior

• Parking: Attached concrete parking
• Home design: Residential mobile home; Single-story (story count not specified); Entry facing direction not specified
• Construction: Vinyl siding; Shingle roof
• Exterior features: Deck; Level and wooded lot

Interior

• Kitchen: Refrigerator
• Bedrooms: 5 total rooms (bedroom count not specified)
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms
• Interior features: Cathedral ceilings; Vaulted ceilings; Pantry; Furnished
• Laundry & utility: Washer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $188k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $183k (2.6% below list).
• Recommended offer: $176k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.8% in Manatee Road — 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 59/100 on livability (#815 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: health & safety D, schools F, amenities F.
• Levy (rural): math 45% / reading 43% proficiency, ranked #54 of 73 in FL (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 199 active listings in the ZIP; 199 units permitted in Levy County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Levy County population projected at -28% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $130k; 44% 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; major wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $176,250 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 0.97% ✗
• Cap rate: 7.43%
• Cash-on-cash: 4.06%
• DSCR: 1.18
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $167,076
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11061 NW 112th Pl	0.35mi	3/2.0	1,296 (-8%)	4mo	$155,000	$120	67
11210 NW 114th St	0.24mi	2/2.0 (-1)	1,344 (-4%)	13mo	$125,000	$93	66
11324 NW 112th Pl	0.12mi	2/2.0 (-1)	1,540 (+10%)	13mo	$183,000	$119	63

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: -9.9%
• Equity multiple: 0.64×
• Total profit: $-19,055
• Equity at exit: $27,957

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-1,982
• Equity at exit: $16,212

Cash invested: $52,500 (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 32626

• Home prices YoY: -6.9%
• Active inventory: 199
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,826 medium
• Mortgage (P&I): −$983
• Tax from tax record: −$199 /mo · $2,394/yr
• Insurance: −$78
• HOA: −$4
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $178

Break-even live

Break-even rent $1,601

Max offer price $187,500

Occupancy floor 85%

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: $46,875
• Closing costs: $5,625
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $4 · $48/yr

Listing history 12 events

1. 2026-06-07
   statusdays on market $187,500 Pending 69 DOM
2. 2026-06-05
   days on market $187,500 Active 68 DOM
3. 2026-06-03
   days on market $187,500 Active 67 DOM
4. 2026-06-02
   days on market $187,500 Active 66 DOM
5. 2026-06-01
   days on market $187,500 Active 65 DOM
6. 2026-05-31
   days on market $187,500 Active 64 DOM
7. 2026-05-30
   days on market $187,500 Active 63 DOM
8. 2026-03-28
   listed $187,500 Active
9. 2023-01-31
   soldstatus $130,000
10. 2023-01-27
    soldstatus $130 758-char remark

    Show marketing remark (758 chars)

    55 Plus community -This immaculate mobile home is a 2020 TOWN HOME that was placed on the lot by the current owner. The home has 2X6 walls, upgraded insulation and dual pane windows. The home features a split bedroom plan with large master suite. Utility room is accessed off kitchen as well as off the master bath. Master bath has a shower with a built in seat and second bath has a tub/shower combination. Kitchen is a cooks dream with large center island and walk-in pantry. Home is carpet free with vinyl tile throughout so very pet friendly. Concrete paved driveway from street and carport cover for single car. Nice 10X10 storage building for all your extra things. Handicap ramp for ease of access. This is really a "Must See" to appreciate.

11. 2022-09-17
    listed $149,000 758-char remark

    Show marketing remark (758 chars)

    55 Plus community -This immaculate mobile home is a 2020 TOWN HOME that was placed on the lot by the current owner. The home has 2X6 walls, upgraded insulation and dual pane windows. The home features a split bedroom plan with large master suite. Utility room is accessed off kitchen as well as off the master bath. Master bath has a shower with a built in seat and second bath has a tub/shower combination. Kitchen is a cooks dream with large center island and walk-in pantry. Home is carpet free with vinyl tile throughout so very pet friendly. Concrete paved driveway from street and carport cover for single car. Nice 10X10 storage building for all your extra things. Handicap ramp for ease of access. This is really a "Must See" to appreciate.

12. 2006-03-24
    soldstatus $17,500

ⓘ 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: $2,394 · $199/mo
• Projected year-2 tax: $2,394 · $199/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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 24 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: $21,913
• − Mortgage interest: −$10,503
• − Property taxes: −$2,394
• − Insurance: −$938
• − Repairs & maintenance: −$1,753
• − Management: −$1,753
• − HOA: −$48
• − Depreciation: −$5,455
• Taxable loss: −$930
• Est. tax savings @ 24.0%: +$223
• After-tax cash flow: $2,356/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: Levy
• NCES district ID: 1201140
• Math proficiency: 45% ▼ -8.00%
• Reading proficiency: 43% ▼ -3.00%
• Median HH income: $35,254
• Composite: 36.42/100
• National rank: #4673
• State rank: #54 of 73 in FL

Livability — Manatee Road

• Score: 59/100
• State rank: #815
• US rank: #19826

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Manatee Road, FL
• Population (ZIP): 8,994

Population outlook (Levy County) Hauer SSP2

• Today (2025): 36,536 people
• By 2030: 34,498 · -5.6%
• By 2040: 30,294 · -17.1%
• By 2050: 26,368 · -27.8%
• By 2075: 19,003 · -48.0%
• By 2100: 13,169 · -64.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 11% Hispanic / Latino 7% Two or more races 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Cuban 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 93% English-only · Spanish 6% Tagalog/Filipino 1%

Political lean MEDSL · Levy

• 2024 margin: Solid R (+50.3) · D 24.6% · R 74.8%
• 2008→2024 swing: -23.3pp toward R · 2008: -26.9pp · 2024: -50.3pp
• All cycles: 2024: R+50.3 2020: R+45.6 2016: R+44.8 2012: R+32.2 2008: R+26.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -21.03%
• Current HPI: 282.05
• 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

+971.4% since first listed

5 events — show timeline

• 2026-03-28 Listed $187,500 DGLMLS
• 2023-01-31 Sold (Public Records) $130,000 Public Records
• 2023-01-27 Sold (MLS) $130 DGLMLS
• 2022-09-17 Listed $149,000 DGLMLS
• 2006-03-24 Sold (Public Records) $17,500 Public Records

Property tax history

+30.0%/yr

Latest (2025): $2,394 · +12.2% YoY. Source: county tax records.