348 Tropic Dr · Osprey, FL 34229

$109,900

2 bd · 2.0 ba · 864 sqft · Manufactured public records · 217 Days on market

Built 1977 5,092 sqft lot $215/mo HOA · 16% of rent

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Why this score? — see what drove the C+ 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 +20.2/30.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• DSCR +6.4/10.0
• Schools +5.4/10.0
• Appreciation +5.1/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Perfect Home for a SNOW BIRD OR A "YEAR-ROUNDER "!! The Arbors is the BEST of the Florida sun belt communities. THE ROOF -- New in 2022 with 15-Year Transferable Waranty. THE CARPORT -- New 2023 No leaks. This lovingly maintained manufactured home is in a PET FRIENDLY zone. Your LOW $215/month HOA provides: YOUR Water. YOUR Sewer. YOUR Lawn care. YOUR Cable service. A lucky buyer could move in right away and make some upgrades as needed. YOU and your fellow homeowners will own the company that owns the park. it's a Co-Op park for over-55 owner residents. Therefore, everybody takes pride in keeping it wonderfully maintained and reasonably priced with low HOA dues. Better take a look before the bidding war starts.

Key facts

• 5,092 sq ft lot
• 2 parking spots
• Built 1977

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $110k.

Deal economics

• At list price, monthly cash flow is $139 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#487 in FL) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F, cost of living F.
• Sarasota (urban): math 63% / reading 63% proficiency, ranked #7 of 73 in FL (top 10%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 192 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($760 loan paydown + $290 appreciation (0.3% local appreciation)).
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.3% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 217 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $29k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $77k; 43% 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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 217 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 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 A-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?
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: 1.21% ✓
• Cap rate: 7.81%
• Cash-on-cash: 5.43%
• DSCR: 1.24
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

0.26% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 4.8%
• Equity multiple: 1.23×
• Total profit: $7,134
• Equity at exit: $33,368

10-year hold

• IRR: 9.8%
• Equity multiple: 2.11×
• Total profit: $34,077
• Equity at exit: $41,291

Cash invested: $30,772 (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 34229

• Home prices YoY: 0.1%
• Active inventory: 192
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,333 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$77 /mo · $922/yr
• Insurance: −$46
• HOA: −$215
• Vacancy / Maint / Mgmt: −$280
• Net cashflow: $139

Break-even live

Break-even rent $1,157

Max offer price $109,900

Occupancy floor 85%

Sensitivity live

Price	-10% $201	-5% $170	+0% $139	+5% $108	+10% $77
Rent	-10% $34	-5% $87	+0% $139	+5% $192	+10% $245
Rate	-1.0pp $195	-0.5pp $167	base $139	+0.5pp $111	+1.0pp $82

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $215 · $2,580/yr
• Likely covers: watersewercablelandscaping

Listing history 20 events

1. 2026-06-18
   days on market $109,900 Active 217 DOM
2. 2026-06-17
   days on market $109,900 Active 216 DOM
3. 2026-06-16
   days on market $109,900 Active 215 DOM
4. 2026-06-15
   days on market $109,900 Active 214 DOM
5. 2026-06-13
   days on market $109,900 Active 212 DOM
6. 2026-06-13
   days on market $109,900 Active 211 DOM
7. 2026-06-10
   days on market $109,900 Active 209 DOM
8. 2026-06-09
   days on market $109,900 Active 208 DOM
9. 2026-06-08
   days on market $109,900 Active 206 DOM
10. 2026-06-05
    days on market $109,900 Active 203 DOM
11. 2026-06-03
    days on market $109,900 Active 202 DOM
12. 2026-06-02
    days on market $109,900 Active 201 DOM
13. 2026-06-01
    days on market $109,900 Active 200 DOM
14. 2026-05-31
    days on market $109,900 Active 199 DOM
15. 2026-04-28
    price $109,900 741-char remark

    Show marketing remark (741 chars)

    Perfect Home for a SNOW BIRD OR A "YEAR-ROUNDER "!! The Arbors is the BEST of the Florida sun belt communities. THE ROOF -- New in 2022 with 15-Year Transferable Waranty. THE CARPORT -- New 2023 No leaks. This lovingly maintained manufactured home is in a PET FRIENDLY zone. Your LOW $215/month HOA provides: YOUR Water. YOUR Sewer. YOUR Lawn care. YOUR Cable service. A lucky buyer could move in right away and make some upgrades as needed. YOU and your fellow homeowners will own the company that owns the park. it's a Co-Op park for over-55 owner residents. Therefore, everybody takes pride in keeping it wonderfully maintained and reasonably priced with low HOA dues. Better take a look before the bidding war starts.

16. 2026-03-16
    price $109,000 741-char remark

    Show marketing remark (741 chars)

    Perfect Home for a SNOW BIRD OR A "YEAR-ROUNDER "!! The Arbors is the BEST of the Florida sun belt communities. THE ROOF -- New in 2022 with 15-Year Transferable Waranty. THE CARPORT -- New 2023 No leaks. This lovingly maintained manufactured home is in a PET FRIENDLY zone. Your LOW $215/month HOA provides: YOUR Water. YOUR Sewer. YOUR Lawn care. YOUR Cable service. A lucky buyer could move in right away and make some upgrades as needed. YOU and your fellow homeowners will own the company that owns the park. it's a Co-Op park for over-55 owner residents. Therefore, everybody takes pride in keeping it wonderfully maintained and reasonably priced with low HOA dues. Better take a look before the bidding war starts.

17. 2025-11-14
    price $119,000 741-char remark

    Show marketing remark (741 chars)

    Perfect Home for a SNOW BIRD OR A "YEAR-ROUNDER "!! The Arbors is the BEST of the Florida sun belt communities. THE ROOF -- New in 2022 with 15-Year Transferable Waranty. THE CARPORT -- New 2023 No leaks. This lovingly maintained manufactured home is in a PET FRIENDLY zone. Your LOW $215/month HOA provides: YOUR Water. YOUR Sewer. YOUR Lawn care. YOUR Cable service. A lucky buyer could move in right away and make some upgrades as needed. YOU and your fellow homeowners will own the company that owns the park. it's a Co-Op park for over-55 owner residents. Therefore, everybody takes pride in keeping it wonderfully maintained and reasonably priced with low HOA dues. Better take a look before the bidding war starts.

18. 2025-11-14
    status Active 741-char remark

    Show marketing remark (741 chars)

    Perfect Home for a SNOW BIRD OR A "YEAR-ROUNDER "!! The Arbors is the BEST of the Florida sun belt communities. THE ROOF -- New in 2022 with 15-Year Transferable Waranty. THE CARPORT -- New 2023 No leaks. This lovingly maintained manufactured home is in a PET FRIENDLY zone. Your LOW $215/month HOA provides: YOUR Water. YOUR Sewer. YOUR Lawn care. YOUR Cable service. A lucky buyer could move in right away and make some upgrades as needed. YOU and your fellow homeowners will own the company that owns the park. it's a Co-Op park for over-55 owner residents. Therefore, everybody takes pride in keeping it wonderfully maintained and reasonably priced with low HOA dues. Better take a look before the bidding war starts.

19. 2025-10-12
    listed $139,000 Active 741-char remark

    Show marketing remark (741 chars)

    Perfect Home for a SNOW BIRD OR A "YEAR-ROUNDER "!! The Arbors is the BEST of the Florida sun belt communities. THE ROOF -- New in 2022 with 15-Year Transferable Waranty. THE CARPORT -- New 2023 No leaks. This lovingly maintained manufactured home is in a PET FRIENDLY zone. Your LOW $215/month HOA provides: YOUR Water. YOUR Sewer. YOUR Lawn care. YOUR Cable service. A lucky buyer could move in right away and make some upgrades as needed. YOU and your fellow homeowners will own the company that owns the park. it's a Co-Op park for over-55 owner residents. Therefore, everybody takes pride in keeping it wonderfully maintained and reasonably priced with low HOA dues. Better take a look before the bidding war starts.

20. 2003-10-31
    soldstatus $77,000

ⓘ 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: $922 · $77/mo
• Projected year-2 tax: $922 · $77/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) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°F today · 28 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,997
• − Mortgage interest: −$6,156
• − Property taxes: −$922
• − Insurance: −$550
• − Repairs & maintenance: −$1,280
• − Management: −$1,280
• − HOA: −$2,580
• − Depreciation: −$3,197
• Taxable income: $33
• Est. tax owed @ 24.0%: −$8
• After-tax cash flow: $1,662/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: Sarasota
• NCES district ID: 1201680
• Math proficiency: 63% ▼ -8.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $51,167
• Composite: 53.68/100
• National rank: #1428
• State rank: #7 of 73 in FL

Livability — Osprey

• Score: 69/100
• State rank: #487
• US rank: #8951

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Osprey, FL
• City population: 7,237
• Population (ZIP): 7,237

Population outlook (Sarasota County) Hauer SSP2

• Today (2025): 452,380 people
• By 2030: 474,175 · +4.8%
• By 2040: 511,577 · +13.1%
• By 2050: 541,467 · +19.7%
• By 2075: 604,947 · +33.7%
• By 2100: 621,965 · +37.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Hispanic / Latino 4% Two or more races 4% Asian 2%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 10% · Canada, China
• Languages at home: 89% English-only · German/W. Germanic 5% Russian/Polish/Slavic 2% Spanish 1%

Political lean MEDSL · Sarasota

• 2024 margin: R (+18.2) · D 40.5% · R 58.7%
• 2008→2024 swing: -18.1pp toward R · 2008: -0.1pp · 2024: -18.2pp
• All cycles: 2024: R+18.2 2020: R+10.4 2016: R+11.6 2012: R+7.4 2008: R+0.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.26%
• Current HPI: 272.6927
• 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

+42.7% since first listed

6 events — show timeline

• 2026-04-28 Price Changed $109,900 Stellar MLS as Distributed by MLS Grid
• 2026-03-16 Price Changed $109,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-14 Price Changed $119,000 Stellar MLS as Distributed by MLS Grid
• 2025-11-14 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-10-12 Listed $139,000 Stellar MLS as Distributed by MLS Grid
• 2003-10-31 Sold (Public Records) $77,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $922 · +4.2% YoY. Source: county tax records.