217 Mantua Dr

Venice, FL 34285

$114,900B

2 bd · 2.0 ba · 1,104 sqft · Built 1970 · Manufactured · Active · 72 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,031/mo
• Mortgage (P&I): −$603
• Tax + insurance: −$218
• HOA: −$229
• Vac / Maint / Mgmt: −$426
• Net cashflow: $555/mo
• Annual: $6,654/yr
• Cap rate: 12.08%
• Cash-on-cash: 20.68%
• DSCR: 1.92
• 1% rule: 1.77%
• Cash to close: $32,172

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $115k.
• At list price, monthly cash flow is $555 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• It's been on market 72 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $794 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 80/100 on livability (#129 in FL, #1,925 nationally) — a professional / high-income tenant draw. Strengths: crime A+, housing A+, health & safety A+; Watch: amenities D-, 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.
• Zoned schools: Garden Elementary School (math 71% / reading 69%, grade A-, #345 of 2,144 statewide, top 17%, 513 students, 52% FRL); Venice Middle School (math 71% / reading 58%, grade A-, #100 of 571 statewide, top 18%, 761 students, 37% FRL); Venice Senior High School (math 67% / reading 61%, grade B-, #86 of 667 statewide, top 13%, 2,584 students, 31% FRL) — zoned schools at 40% FRL track the district average.
• Market conditions: Rents rising fast (+8.8%/yr); 468 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• Sarasota County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• 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.
• This rent runs 36% of the median local income ($68k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.