702 Blanca · Warm Mineral Springs, FL 34287

$129,900

2 bd · 2.0 ba · 1,276 sqft · Manufactured public records · 45 Days on market

Built 1982 6,217 sqft lot $191/mo HOA · 11% of rent

---

Why this score? — see what drove the B- 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 +26.7/30.0
• DSCR +9.2/10.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.3/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The ultimate lifestyle on Florida's Gulf Coast, located between Sarasota and Fort Myers with boat access to the Gulf. La Casa is a quiet 55+ community of 974 homes nestled among a variety of native trees. Spacious common grounds surround our eight lakes. Welcome To the Good Life! RECREATION, 2 Clubhouses, 2 Heated Pools. There is no shortage of activities in this community! 2 Bedroom, 2 Bath.

Key facts

• New carport
• Utility room
• Wall of windows

Tags

• LIVING ROOM FAMILY ROOM COMBO
• NEW DOUBLE PANE WINDOWS
• WALL OF WINDOWS
• WALK IN CLOSET
• NEW CARPORT
• UTILITY ROOM

Property features AI

Finance

• Other: Turnkey furnished option available (per listing); Senior community
• Financial info: Total annual HOA/association fees: $2,292 (monthly $191); Annual taxes listed
• HOA & community: Active homeowners association (monthly fee $191); Association requires approval; Association includes 24-hour guard, common area taxes, pool, escrow reserves, management, private road; Community amenities: clubhouse, fitness center, pool, tennis courts, basketball court, pickleball courts, shuffleboard, spa/hot tub, sauna, recreation facilities, storage; No truck/RV/motorcycle parking restriction; Golf carts allowed; Irrigation with reclaimed water; Buyer approval required; Cats allowed; Association listed as Frank Anastasi

Exterior

• Parking: Carport with 2 spaces
• Security: Gated community (community amenity)
• Utilities: Public water; Public sewer; Cable available
• Home design: Manufactured double-wide home; One story; Faces east; Residential property
• Construction: Vinyl siding; Roof over; Crawlspace foundation
• Exterior features: Lighting; Private mailbox; Rain gutters; Storage

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator; Eat-in kitchen
• Bedrooms: 2 bedrooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceiling fans; Eat-in kitchen; Living and dining room combo; Thermostat; Walk-in closets; Window treatments
• Laundry & utility: Washer; Dryer; Laundry located outside; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#604 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D-, amenities F, commute 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: Rents flat; 857 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 34% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 $60k; list at $130k implies a 116% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.38% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.65%
• DSCR: 1.52
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.7%
• Equity multiple: 0.80×
• Total profit: $-7,422
• Equity at exit: $19,369

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-934
• 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 34287

• Home prices YoY: -20.1%
• Rents YoY: 0.3%
• Active inventory: 857
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,792 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$136 /mo · $1,631/yr
• Insurance: −$54
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$191
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $287

Break-even live

Break-even rent $1,429

Max offer price $129,900

Occupancy floor 79%

Sensitivity live

Price	-10% $360	-5% $324	+0% $287	+5% $250	+10% $213
Rent	-10% $145	-5% $216	+0% $287	+5% $358	+10% $428
Rate	-1.0pp $352	-0.5pp $320	base $287	+0.5pp $253	+1.0pp $219

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: —

HOA detail

• Monthly dues: $191 · $2,292/yr
• Likely covers: landscapingpool

Listing history 16 events

1. 2026-06-21
   days on market $129,900 Active 45 DOM
2. 2026-06-18
   days on market $129,900 Active 42 DOM
3. 2026-06-17
   days on market $129,900 Active 41 DOM
4. 2026-06-16
   days on market $129,900 Active 40 DOM
5. 2026-06-15
   status $129,900 Active 39 DOM
6. 2026-06-02
   statusdays on market $129,900 Pending 39 DOM
7. 2026-06-01
   days on market $129,900 Active 38 DOM
8. 2026-05-31
   days on market $129,900 Active 37 DOM
9. 2026-04-24
   listed $129,900 Active 1737-char remark
10. 2025-05-06
    historical
11. 2025-03-28
    price $134,500
12. 2024-11-08
    listed $140,000 Active
13. 2024-01-08
    soldstatus $60,000

    Show marketing remark (396 chars)

    The ultimate lifestyle on Florida's Gulf Coast, located between Sarasota and Fort Myers with boat access to the Gulf. La Casa is a quiet 55+ community of 974 homes nestled among a variety of native trees. Spacious common grounds surround our eight lakes. Welcome To the Good Life! RECREATION, 2 Clubhouses, 2 Heated Pools. There is no shortage of activities in this community! 2 Bedroom, 2 Bath.

14. 2024-01-08
    listed $60,000

    Show marketing remark (396 chars)

    The ultimate lifestyle on Florida's Gulf Coast, located between Sarasota and Fort Myers with boat access to the Gulf. La Casa is a quiet 55+ community of 974 homes nestled among a variety of native trees. Spacious common grounds surround our eight lakes. Welcome To the Good Life! RECREATION, 2 Clubhouses, 2 Heated Pools. There is no shortage of activities in this community! 2 Bedroom, 2 Bath.

15. 2024-01-08
    soldstatus $60,000

    Show marketing remark (396 chars)

    The ultimate lifestyle on Florida's Gulf Coast, located between Sarasota and Fort Myers with boat access to the Gulf. La Casa is a quiet 55+ community of 974 homes nestled among a variety of native trees. Spacious common grounds surround our eight lakes. Welcome To the Good Life! RECREATION, 2 Clubhouses, 2 Heated Pools. There is no shortage of activities in this community! 2 Bedroom, 2 Bath.

16. 2004-02-02
    soldstatus $32,300

ⓘ 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: $1,631 · $136/mo
• Projected year-2 tax: $1,631 · $136/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°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: $21,501
• − Mortgage interest: −$7,276
• − Property taxes: −$1,631
• − Insurance: −$1,447
• − Repairs & maintenance: −$1,720
• − Management: −$1,720
• − HOA: −$2,292
• − Depreciation: −$3,779
• Taxable income: $1,636
• Est. tax owed @ 24.0%: −$393
• After-tax cash flow: $3,049/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 — Warm Mineral Springs

• Score: 66/100
• State rank: #604
• US rank: #11606

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warm Mineral Springs, FL
• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 25,929
• Household income: $63,464
• Rent vs Own: 19.1% rent · 80.9% own
• Severe rent burden: 522.0

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 (77%)
• Race & ethnicity: White 77% Hispanic / Latino 14% Two or more races 7% Asian 4% Black 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 3% Cuban 3% Dominican 1%
• Common ancestry: Romanian 4% Scotch-Irish 3% Lithuanian 3%
• Foreign-born: 16% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 8% Russian/Polish/Slavic 5% French/Haitian/Cajun 2%

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: ▼ -70.89%
• Current HPI: 280.8484
• Rent YoY: ▲ 0.26%
• Metro: North Port-Sarasota-Bradenton, FL
• 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

+302.2% since first listed

10 events — show timeline

• 2026-06-15 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-06-02 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-04-24 Listed $129,900 Stellar MLS as Distributed by MLS Grid
• 2025-05-06 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-03-28 Price Changed $134,500 Stellar MLS as Distributed by MLS Grid
• 2024-11-08 Listed $140,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-08 Sold (Public Records) $60,000 Public Records
• 2024-01-08 Listed $60,000 Stellar MLS as Distributed by MLS Grid
• 2024-01-08 Sold (MLS) $60,000 Stellar MLS as Distributed by MLS Grid
• 2004-02-02 Sold (Public Records) $32,300 Public Records

Property tax history

+7.8%/yr

Latest (2025): $1,631 · +33.9% YoY. Source: county tax records.