1026 Cardinal Rd · Lemon Grove, FL 33873

$129,900

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 22 Days on market

Built 2006 9,583 sqft lot ↓ 59% 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 +18.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 1% rule +4.8/10.0
• Schools +3.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 1296 square foot manufactured home nestled in Wauchula, FL. 3 bedroom 2 bath 2006 mobile home ideally located between Hardee County and Highlands County. Big spacious living room with a split floor plan.

Key facts

• 9,583 sq ft lot
• 2 parking spots
• Built 2006

Property features AI

Finance

• Other: Approximately 0.22 acre lot

Exterior

• Parking: 2 parking spaces
• Utilities: Public water; Septic sewer
• Home design: Mobile home; One level; Residential property
• Construction: Frame construction; Shingle roof
• Exterior features: No patio or porch; Paved road access; 80 ft frontage

Interior

• Kitchen: Oven; Range; Refrigerator
• Flooring: Carpet; Linoleum
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Oven, Range, Refrigerator; 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $128 ($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 $128k (1.7% below list).
• Recommended offer: $128k (1.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#758 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-; Watch: amenities F, commute F, employment F.
• Hardee (town): math 46% / reading 46% proficiency, ranked #50 of 73 in FL (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 73% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Wauchula Elementary School (math 48% / reading 50%, grade D, #1,134 of 2,144 statewide, top 54%, 616 students, 75% FRL); Hardee Senior High School (math 25% / reading 40%, grade F, #411 of 667 statewide, top 62%, 1,403 students, 67% FRL) — zoned schools at 71% FRL track the district average.
• Market conditions: 100 active listings in the ZIP; 123 units permitted in Hardee County in 2024 (22 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Hardee County population projected at -24% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $127,658 (1.7% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 7.48%
• Cash-on-cash: 4.23%
• DSCR: 1.19
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -9.7%
• Equity multiple: 0.65×
• Total profit: $-12,875
• Equity at exit: $19,369

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-662
• Equity at exit: $11,231

Cash invested: $36,372 (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 33873

• Home prices YoY: -3.1%
• Active inventory: 100
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,277 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$145 /mo · $1,739/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $128

Break-even live

Break-even rent $1,114

Max offer price $129,900

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $129,900 Active 22 DOM
2. 2026-06-18
   days on market $129,900 Active 21 DOM
3. 2026-06-17
   days on market $129,900 Active 20 DOM
4. 2026-06-16
   days on market $129,900 Active 19 DOM
5. 2026-06-15
   days on market $129,900 Active 18 DOM
6. 2026-06-14
   days on market $129,900 Active 16 DOM
7. 2026-06-13
   days on market $129,900 Active 15 DOM
8. 2026-06-10
   days on market $129,900 Active 13 DOM
9. 2026-06-09
   days on market $129,900 Active 12 DOM
10. 2026-06-08
    days on market $129,900 Active 11 DOM
11. 2026-06-07
    days on market $129,900 Active 10 DOM
12. 2026-06-05
    days on market $129,900 Active 7 DOM
13. 2026-06-03
    days on market $129,900 Active 6 DOM
14. 2026-06-02
    days on market $129,900 Active 5 DOM
15. 2026-06-01
    days on market $129,900 Active 4 DOM
16. 2026-05-31
    days on market $129,900 Active 3 DOM
17. 2026-05-30
    days on market $129,900 Active 2 DOM
18. 2026-05-28
    listed $129,900 Active
19. 2025-11-07
    historical
20. 2025-10-11
    status Active
21. 2025-09-23
    status Pending
22. 2025-05-16
    listed $105,000 Active
23. 2005-07-28
    soldstatus $315,000

ⓘ 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: $1,739 · $145/mo
• Projected year-2 tax: $1,739 · $145/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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,319
• − Mortgage interest: −$7,276
• − Property taxes: −$1,739
• − Insurance: −$650
• − Repairs & maintenance: −$1,226
• − Management: −$1,226
• − Depreciation: −$3,779
• Taxable loss: −$576
• Est. tax savings @ 24.0%: +$138
• After-tax cash flow: $1,677/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: Hardee
• NCES district ID: 1200750
• Math proficiency: 46% ▼ -13.00%
• Reading proficiency: 46% ▼ -2.00%
• Median HH income: $36,868
• Composite: 38.22/100
• National rank: #4251
• State rank: #50 of 73 in FL

Livability — Lemon Grove

• Score: 62/100
• State rank: #758
• US rank: #16733

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lemon Grove, FL
• Population (ZIP): 14,162

Population outlook (Hardee County) Hauer SSP2

• Today (2025): 25,462 people
• By 2030: 24,340 · -4.4%
• By 2040: 21,801 · -14.4%
• By 2050: 19,217 · -24.5%
• By 2075: 13,159 · -48.3%
• By 2100: 7,806 · -69.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 47% White 43% Two or more races 18% Black 5% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 31% Puerto Rican 8% Cuban 2%
• Common ancestry: Italian 2% Lithuanian 1% Serbian 1%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 30% Other Asian/Pacific 1%

Political lean MEDSL · Hardee

• 2024 margin: Solid R (+56.3) · D 21.5% · R 77.8%
• 2008→2024 swing: -26.7pp toward R · 2008: -29.6pp · 2024: -56.3pp
• All cycles: 2024: R+56.3 2020: R+45.1 2016: R+40.8 2012: R+30.9 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -11.44%
• Current HPI: 360.0195
• 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

-58.8% since first listed

6 events — show timeline

• 2026-05-28 Listed $129,900 HAOR as distributed by MLS GRID
• 2025-11-07 Listing Removed — FORTMLS
• 2025-10-11 Relisted — FORTMLS
• 2025-09-23 Pending — FORTMLS
• 2025-05-16 Listed $105,000 FORTMLS
• 2005-07-28 Sold (Public Records) $315,000 Public Records

Property tax history

+5.5%/yr

Latest (2025): $1,739 · +3.6% YoY. Source: county tax records.