610 Delphinium Dr · South Venice, FL 34293

$139,900

2 bd · 2.0 ba · 1,007 sqft · Manufactured public records · 17 Days on market

Built 1970 4,492 sqft lot $254/mo HOA · 12% 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 +28.4/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.4/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Under contract-accepting backup offers. Welcome to this charming doublewide home located in the desirable Japanese Gardens community, situated on a pet-friendly street. This well-maintained 2-bedroom, 2-bath residence offers numerous recent upgrades, including a new roof (2023) with transferable warranty, new insulation (2024), new vapor barrier (2024), and updated lift duct work (2024) to ensure proper pier-to-beam contact—all with warranties included. A new 3-ton air conditioning system was also installed in 2024 for added comfort and efficiency. Inside, you’ll find a spacious living and dining room combination, perfect for relaxing or entertaining. Japanese Gardens is a beaut

Key facts

• Doublewide home
• New vapor barrier
• New roof

Tags

• DOUBLEWIDE HOME
• NEW ROOF
• NEW INSULATION
• NEW VAPOR BARRIER
• UPDATED LIFT DUCT WORK
• NEW AIR CONDITIONING SYSTEM

Property features AI

Finance

• Other: Partially furnished; Total building area reported as 1,810 sq ft; living area reported as 1,007 sq ft
• Financial info: Lease restrictions apply
• HOA & community: Monthly HOA fee of $254 (association approval required); Association: Japanese Gardens of Venice FL; Senior community; Cats allowed

Exterior

• Parking: Carport for 2 vehicles
• Utilities: Public water; Private sewer; Cable connected; Broadband/high-speed internet available
• Home design: Mobile home (double wide); One level; North facing; Residential property
• Construction: Frame construction; Shingle roof; Crawlspace foundation; Built on a 0.1 acre lot
• Exterior features: Asphalt road access; Outdoor lighting

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Ceiling fans; Water filtration system; Lighting (exterior)
• Laundry & utility: Laundry in garage; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $25 ($298/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 67/100 on livability (#549 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: schools F, 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; 1247 active listings in the ZIP; solid renter incomes; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 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 17 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,801 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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: 1.48% ✓
• Cap rate: 10.16%
• Cash-on-cash: 13.83%
• DSCR: 1.62
• GRM: 5.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.7% rent growth · sell at horizon

5-year hold

• IRR: -19.1%
• Equity multiple: 0.35×
• Total profit: $-25,350
• Equity at exit: $20,860

10-year hold

• IRR: -21.9%
• Equity multiple: 0.06×
• Total profit: $-36,683
• Equity at exit: $12,096

Cash invested: $39,172 (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 34293

• Rents YoY: 0.7%
• Active inventory: 1247
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,075 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$142 /mo · $1,699/yr
• Insurance: −$58
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$254
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $25

Break-even live

Break-even rent $2,043

Max offer price $139,900

Occupancy floor 94%

Sensitivity live

Price	-10% $104	-5% $64	+0% $25	+5% $-15	+10% $-54
Rent	-10% $-139	-5% $-57	+0% $25	+5% $107	+10% $189
Rate	-1.0pp $95	-0.5pp $60	base $25	+0.5pp $-11	+1.0pp $-48

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $254 · $3,048/yr

Listing history 4 events

1. 2026-05-18
   status Pending 1147-char remark
2. 2026-05-01
   listed $139,900 Active 1147-char remark
3. 2021-11-05
   soldstatus $155,000
4. 2001-01-10
   soldstatus $50,000

ⓘ 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: $1,699 · $142/mo
• Projected year-2 tax: $1,699 · $142/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 7/10 Severe FEMA zone AE · 74% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,895
• − Mortgage interest: −$7,837
• − Property taxes: −$1,699
• − Insurance: −$5,818
• − Repairs & maintenance: −$1,992
• − Management: −$1,992
• − HOA: −$3,048
• − Depreciation: −$4,070
• Taxable loss: −$1,559
• Est. tax savings @ 24.0%: +$374
• After-tax cash flow: $673/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 — South Venice

• Score: 67/100
• State rank: #549
• US rank: #10377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Venice, FL
• County: Sarasota County · 448,376 people
• City population: 75,324
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 50,278
• Household income: $90,038
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 548.0

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 (90%)
• Race & ethnicity: White 90% Hispanic / Latino 5% Two or more races 4% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 7% Lithuanian 4% Slovak 3%
• Foreign-born: 9% · Canada, China, Dominican Republic
• Languages at home: 90% English-only · Spanish 3% Russian/Polish/Slavic 2% French/Haitian/Cajun 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: ▼ -355.64%
• Current HPI: 270.5242
• Rent YoY: ▲ 0.70%
• 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

+179.8% since first listed

4 events — show timeline

• 2026-05-18 Pending — Stellar MLS as Distributed by MLS Grid
• 2026-05-01 Listed $139,900 Stellar MLS as Distributed by MLS Grid
• 2021-11-05 Sold (Public Records) $155,000 Public Records
• 2001-01-10 Sold (Public Records) $50,000 Public Records

Property tax history

+8.7%/yr

Latest (2025): $1,699 · -5.5% YoY. Source: county tax records.