11120 NW 107th Ter · Manatee Road, FL 32626

$214,900

4 bd · 2.0 ba · 1,560 sqft · Manufactured public records · 158 Days on market

Built 2021 0.46 ac lot Est $158k · 36% over

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Why this score? — see what drove the F 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 +13.7/30.0
• DSCR +4.1/10.0
• 1% rule +3.6/10.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Seller is willing to consider buyer concessions toward closing costs, prepaid expenses, or rate buy-down Practically Brand-New 2021 Home on Nearly Half an Acre – Fully Fenced & Move-In Ready This well-maintained 2021 manufactured home offers modern comfort, thoughtful upgrades, and a peaceful rural setting just off Camp Azalea Road in Chiefland. Situated on a fully fenced 0.46-acre lot, the property provides space, privacy, and flexibility for everyday living. Inside, you’ll find a spacious 4-bedroom, 2-bath layout with an open-concept design centered around a large granite kitchen island—perfect for cooking, gathering, and entertaining. The home has been careful

Key facts

• Ceramic sinks
• Water softener
• 0.46 acre lot

Tags

• GRANITE TOPPED KITCHEN ISLAND
• CABINET DRAWER SLIDE OUTS
• CERAMIC SINKS
• CEILING MOUNTED HVAC DUCTWORK
• UNDERGROUND UTILITIES
• WATER SOFTENER

Property features AI

Finance

• Other: Property type: Residential; Property subtype: Manufactured Home; Lot size approximately 0.46 acres (1/4 to less than 1/2 acre)
• HOA & community: No HOA; Pets allowed

Exterior

• Parking: Paved access/drive
• Utilities: Well water; Private sewer; Electricity connected; Sewer available; Water available
• Home design: Manufactured home (double wide); Single-story; Northwest-facing entry
• Construction: Vinyl siding; Shingle roof; Crawlspace foundation; Completed condition
• Exterior features: Private mailbox; Shed(s); Cleared lot; Paved lot/drive

Interior

• Kitchen: Range; Refrigerator; Water softener
• Bedrooms: 4 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Kitchen/family room combo; Living room/dining room combo; Walk-in closets; Blinds
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $215k.

Deal economics

• At list price, monthly cash flow is $14 ($172/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 $185k (13.9% below list).
• Recommended offer: $185k (13.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.7% 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, amenities F, commute 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.
• Zoned schools: Nature Coast Middle School (math 32% / reading 42%, grade F, #399 of 571 statewide, top 71%, 90 students, 82% FRL, charter) — zoned schools average 82% FRL vs 62% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 204 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 158 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $8k; list at $215k implies a 2728% 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 $185,089 (13.9% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.86% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $157,560
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11492 NW 114th Pl	0.53mi	3/2.0 (-1)	1,664 (+7%)	11mo	$195,000	$117	50
11347 NW 113th Pl	0.59mi	3/3.0 (-1)	1,716 (+10%)	8mo	$172,500	$101	40
11481 NW 112th Ter	0.58mi	3/2.0 (-1)	1,748 (+12%)	17mo	$119,900	$69	34

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: -15.8%
• Equity multiple: 0.44×
• Total profit: $-33,907
• Equity at exit: $32,042

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-28,331
• Equity at exit: $18,581

Cash invested: $60,172 (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: 204
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,851 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$231 /mo · $2,777/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $14

Break-even live

Break-even rent $1,833

Max offer price $214,900

Occupancy floor 94%

Sensitivity live

Price	-10% $136	-5% $75	+0% $14	+5% $-47	+10% $-107
Rent	-10% $-132	-5% $-59	+0% $14	+5% $87	+10% $161
Rate	-1.0pp $123	-0.5pp $69	base $14	+0.5pp $-41	+1.0pp $-98

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $214,900 Active 158 DOM
2. 2026-06-18
   days on market $214,900 Active 155 DOM
3. 2026-06-17
   days on market $214,900 Active 154 DOM
4. 2026-06-16
   days on market $214,900 Active 153 DOM
5. 2026-06-15
   days on market $214,900 Active 152 DOM
6. 2026-06-14
   days on market $214,900 Active 150 DOM
7. 2026-06-13
   days on market $214,900 Active 149 DOM
8. 2026-06-10
   days on market $214,900 Active 147 DOM
9. 2026-06-09
   days on market $214,900 Active 146 DOM
10. 2026-06-08
    days on market $214,900 Active 145 DOM
11. 2026-06-07
    days on market $214,900 Active 144 DOM
12. 2026-06-05
    days on market $214,900 Active 141 DOM
13. 2026-06-03
    days on market $214,900 Active 140 DOM
14. 2026-06-02
    days on market $214,900 Active 139 DOM
15. 2026-06-01
    days on market $214,900 Active 138 DOM
16. 2026-05-31
    days on market $214,900 Active 137 DOM
17. 2026-05-30
    days on market $214,900 Active 136 DOM
18. 2026-05-13
    price $214,900
19. 2026-03-31
    price $225,000
20. 2026-03-08
    price $235,000
21. 2026-01-14
    listed $240,000 Active
22. 2007-07-06
    soldstatus $7,600

ⓘ 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: $2,777 · $231/mo
• Projected year-2 tax: $2,777 · $231/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $22,211
• − Mortgage interest: −$12,038
• − Property taxes: −$2,777
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,777
• − Management: −$1,777
• − Depreciation: −$6,252
• Taxable loss: −$3,484
• Est. tax savings @ 24.0%: +$836
• After-tax cash flow: $1,008/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

+2727.6% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $214,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-31 Price Changed $225,000 Stellar MLS as Distributed by MLS Grid
• 2026-03-08 Price Changed $235,000 Stellar MLS as Distributed by MLS Grid
• 2026-01-14 Listed $240,000 Stellar MLS as Distributed by MLS Grid
• 2007-07-06 Sold (Public Records) $7,600 Public Records

Property tax history

+31.7%/yr

Latest (2025): $2,777 · +14.4% YoY. Source: county tax records.