5703 Luckasavage Rd

Plant City, FL 33567

$189,900C+

3 bd · 2.0 ba · 1,248 sqft · Built 1999 · Manufactured · Active · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,321/mo
• Mortgage (P&I): −$996
• Tax + insurance: −$372
• HOA: −$0
• Vac / Maint / Mgmt: −$487
• Net cashflow: $466/mo
• Annual: $5,587/yr
• Cap rate: 9.24%
• Cash-on-cash: 10.51%
• DSCR: 1.47
• 1% rule: 1.22%
• Cash to close: $53,172

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $190k.
• At list price, monthly cash flow is $466 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Location reads 76/100 on livability (#227 in FL, #3,587 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment C-, commute F.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Robinson Elementary School (math 42% / reading 39%, grade F, #1,471 of 2,144 statewide, top 69%, 562 students, 78% FRL) — zoned schools average 78% FRL vs 52% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 69 active listings in the ZIP; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 22y 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 $115k; list at $190k implies a 65% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.
• 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.
• 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.