Silver Springs Plan · North Sarasota, FL 34234

$194,900

2 bd · 2.0 ba · 1,352 sqft · Manufactured · 91 Days on market

Fair condition

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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 +19.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• Schools +5.4/10.0
• 1% rule +5.2/10.0
• Livability +3.6/5.0
• Condition / age +2.2/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

55+ age qualified community. Discover modern living in our stunning 2026 model manufactured home, featuring two spacious bedrooms and 2 baths, perfectly situated in our newly expanded area. This home is designed for comfort and convenience, ideal for families or those looking to downsize without compromising on quality. * * Home Features: * * - * * Bedrooms: * * Two cozy bedrooms with ample closet space, perfect for relaxation and privacy. - * * Bathrooms: * * A full bath and an additional half bath for guest convenience, equipped with modern fixtures. - * * Open Living Space: * * A bright and airy layout that seamlessly connects the living room, dining area, and kitchen, making it perfect for entertaining or family gatherings. * * Community Amenities: * * - * * Swimming Pool & Lap Pool: * * Enjoy leisurely swims in our sparkling community pool or get in shape with dedicated lanes in the lap pool. - * * Hot Tub: * * Unwind after a long day in our relaxing hot tub. - * * Gym: * * Stay fit with access to our fully-equipped gym, catering to all your workout needs. - * * Clubhouse: * * Join in on various HOA activities in our welcoming clubhouse, perfect for socializing and community events. - * * Sports Facilities: * * Engage in friendly competition on our shuffleboard and pickleball courts. - * * Pavilion: * * Host cookouts and gatherings in our charming pavilion, surrounded by lush landscaping. Live a vibrant lifestyle in a community designed for relaxation and recreation. This home is not just a place to live; it's

Key facts

• Modern living
• Hot tub
• Swimming pool

Tags

• MODERN LIVING
• OPEN LIVING SPACE
• SWIMMING POOL
• LAP POOL
• HOT TUB
• FULLY-EQUIPPED GYM

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $195k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $217 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $177k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 72/100 on livability (#349 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A; Watch: commute D+, schools F, amenities 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 falling (-3.1%/yr); 268 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 41% of the median local income ($57k/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 $1k of loan paydown is wiped out by about $6k 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 91 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $177,359 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.02% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.76%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.57×
• Total profit: $-23,553
• Equity at exit: $29,060

10-year hold

• IRR: -8.5%
• Equity multiple: 0.54×
• Total profit: $-25,035
• Equity at exit: $16,851

Cash invested: $54,572 (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 34234

• Rents YoY: -3.1%
• Active inventory: 268
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,979 medium
• Mortgage (P&I): −$1,022
• Tax est. 1.5%: −$244 /mo · $2,924/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$416
• Net cashflow: $217

Break-even live

Break-even rent $1,705

Max offer price $194,900

Occupancy floor 84%

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $194,900 Active 91 DOM
2. 2026-06-17
   days on market $194,900 Active 90 DOM
3. 2026-06-15
   days on market $194,900 Active 88 DOM
4. 2026-06-13
   days on market $194,900 Active 86 DOM
5. 2026-06-13
   days on market $194,900 Active 85 DOM
6. 2026-06-10
   days on market $194,900 Active 83 DOM
7. 2026-06-09
   days on market $194,900 Active 82 DOM
8. 2026-06-08
   days on market $194,900 Active 80 DOM
9. 2026-06-05
   days on market $194,900 Active 77 DOM
10. 2026-06-03
    days on market $194,900 Active 76 DOM
11. 2026-06-02
    days on market $194,900 Active 75 DOM
12. 2026-06-01
    days on market $194,900 Active 74 DOM
13. 2026-05-31
    days on market $194,900 Active 73 DOM
14. 2026-03-19
    listed $194,900 Active 1588-char remark

    Show marketing remark (1588 chars)

    55+ age qualified community. Discover modern living in our stunning 2026 model manufactured home, featuring two spacious bedrooms and 2 baths, perfectly situated in our newly expanded area. This home is designed for comfort and convenience, ideal for families or those looking to downsize without compromising on quality. * * Home Features: * * - * * Bedrooms: * * Two cozy bedrooms with ample closet space, perfect for relaxation and privacy. - * * Bathrooms: * * A full bath and an additional half bath for guest convenience, equipped with modern fixtures. - * * Open Living Space: * * A bright and airy layout that seamlessly connects the living room, dining area, and kitchen, making it perfect for entertaining or family gatherings. * * Community Amenities: * * - * * Swimming Pool & Lap Pool: * * Enjoy leisurely swims in our sparkling community pool or get in shape with dedicated lanes in the lap pool. - * * Hot Tub: * * Unwind after a long day in our relaxing hot tub. - * * Gym: * * Stay fit with access to our fully-equipped gym, catering to all your workout needs. - * * Clubhouse: * * Join in on various HOA activities in our welcoming clubhouse, perfect for socializing and community events. - * * Sports Facilities: * * Engage in friendly competition on our shuffleboard and pickleball courts. - * * Pavilion: * * Host cookouts and gatherings in our charming pavilion, surrounded by lush landscaping. Live a vibrant lifestyle in a community designed for relaxation and recreation. This home is not just a place to live; it's

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $23,751
• − Mortgage interest: −$10,917
• − Property taxes: −$2,924
• − Insurance: −$974
• − Repairs & maintenance: −$1,900
• − Management: −$1,900
• − Depreciation: −$5,670
• Taxable loss: −$535
• Est. tax savings @ 24.0%: +$128
• After-tax cash flow: $2,728/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.

Condition & rehab AI · 0 photos

Fair 45/100 Cosmetic rehab

This manufactured home requires minor repairs and maintenance to bring it up to a fair condition. Upgrades to the interior and exterior can significantly enhance its resale and rental value.

Repairs flagged

• Minor Kitchen countertops — Worn appearance
• Minor Kitchen cabinets — Slight wear
• Minor Bathroom tile — Discoloration
• Minor Exterior siding — Minor cracks
• Minor Interior walls — Chipped paint
• Minor Windows — Worn frames
• Minor HVAC unit — Appears old

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace kitchen countertops and cabinets — New countertops and cabinets improve functionality and aesthetics
• Both Replace HVAC unit — A new HVAC unit improves comfort and energy efficiency
• Both Landscaping and curb appeal — A well-maintained exterior enhances curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops · Worn appearance	Minor	$500–3,000
Kitchen cabinets · Slight wear	Minor	$500–3,000
Bathroom tile · Discoloration	Minor	$500–3,000
Exterior siding · Minor cracks	Minor	$500–3,000
Interior walls · Chipped paint	Minor	$500–3,000
Windows · Worn frames	Minor	$500–3,000
HVAC unit · Appears old	Minor	$500–3,000
Total estimated repair cost · 7 items		$3,500–21,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace kitchen countertops and cabinets — New countertops and cabinets improve functionality and aesthetics ↑
• Both Replace HVAC unit — A new HVAC unit improves comfort and energy efficiency ↑
• Both Landscaping and curb appeal — A well-maintained exterior enhances curb appeal and property value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — North Sarasota

• Score: 72/100
• State rank: #349
• US rank: #6050

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sarasota County · 448,376 people
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 22,986
• Household income: $57,288
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 1306.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 44% Black 31% Hispanic / Latino 20% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 8% Puerto Rican 1% Cuban 6% Dominican 1%
• Common ancestry: Lithuanian 4% Hispanic 2% Romanian 1%
• Foreign-born: 17% · Canada, Jamaica, China
• Languages at home: 81% English-only · Spanish 17% 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: ▼ -229.06%
• Current HPI: 305.6629
• Rent YoY: ▼ -3.15%
• 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

1 event — show timeline

• 2026-03-19 Listed $194,900 Zillow