232 Trailorama Dr · Warm Mineral Springs, FL 34287

$135,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 93 Days on market

Built 1976 3,751 sqft lot $8/mo HOA

---

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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• 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

LEASED LOT $99 FOR THE ENTIRE YEAR!!! Space abounds in this partially furnished 2-bedroom, 2-bath home that offers the perfect blend of affordability, comfort, and Florida sunshine in one of the area’s most desirable WATERFRONT communities with direct GULF ACCESS via the Myakka River. Nicely updated with new vinyl flooring, freshly painted throughout, new water heater, plenty of storage, and both baths have been completely updated. The vapor barrier and insulation has been inspected, replaced and updated as needed to include the tiedowns. The screened lanai feels instantly welcoming, and adds extra space for casual dining, or relaxing with friends. Outside, sit in the sun on the front patio and enjoy your morning coffee or afternoon tea. The extra storage plus washer and dryer in the shed. Harbor Cove’s lifestyle is truly unmatched. The two-story clubhouse overlooking the 90-slip marina is the heart of the community, hosting dances, trivia nights, entertainment shows, card games, billiards, picnics, and more. The occasional food truck and vegetable market visits are a treat and very convenient. Residents enjoy two swimming pools, a hot tub, fitness room, tennis and pickleball, bocce, shuffleboard, and even an optional woodworking shop. With boat slips available for a minor fee, you can cruise miles of scenic waterways and enjoy some truly great fishing along the way. With beaches, golf, restaurants, Costco, retail shops, and quality medical services all nearby, this is the perfect place to enjoy an active, social, and relaxed Florida lifestyle.

Key facts

• Direct gulf access
• Plenty of storage
• Freshly painted

Tags

• DIRECT GULF ACCESS
• NEW LAMINATE FLOORING
• FRESHLY PAINTED
• NEW WATER HEATER
• PLENTY OF STORAGE
• COMPLETELY UPDATED BATHS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $94 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $123k (9.0% 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; 852 active listings in the ZIP; 7,466 units permitted in Sarasota County in 2024 (2,138 in 5+ unit buildings).
• This rent runs 33% 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 $933 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 93 days — a 9% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $44k; list at $135k implies a 203% gain — meaningful room to come down on a strong offer.

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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,850 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.30% ✓
• Cap rate: 10.92%
• Cash-on-cash: 16.52%
• DSCR: 1.74
• GRM: 6.4

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: -15.7%
• Equity multiple: 0.46×
• Total profit: $-20,347
• Equity at exit: $20,129

10-year hold

• IRR: -15.3%
• Equity multiple: 0.28×
• Total profit: $-27,271
• Equity at exit: $11,672

Cash invested: $37,800 (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: 852
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,751 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$91 /mo · $1,087/yr
• Insurance: −$56
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$8
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $94

Break-even live

Break-even rent $1,632

Max offer price $135,000

Occupancy floor 90%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: waterpool

Listing history 22 events

1. 2026-06-18
   days on market $135,000 Active 93 DOM
2. 2026-06-17
   days on market $135,000 Active 92 DOM
3. 2026-06-16
   days on market $135,000 Active 91 DOM
4. 2026-06-15
   days on market $135,000 Active 90 DOM
5. 2026-06-13
   days on market $135,000 Active 88 DOM
6. 2026-06-13
   days on market $135,000 Active 87 DOM
7. 2026-06-10
   days on market $135,000 Active 85 DOM
8. 2026-06-09
   days on market $135,000 Active 84 DOM
9. 2026-06-08
   days on market $135,000 Active 83 DOM
10. 2026-06-08
    days on market $135,000 Active 82 DOM
11. 2026-06-05
    days on market $135,000 Active 79 DOM
12. 2026-06-03
    days on market $135,000 Active 78 DOM
13. 2026-06-02
    days on market $135,000 Active 77 DOM
14. 2026-06-01
    days on market $135,000 Active 76 DOM
15. 2026-05-31
    days on market $135,000 Active 75 DOM
16. 2026-03-17
    listed $135,000 Active 1582-char remark

    Show marketing remark (1582 chars)

    LEASED LOT $99 FOR THE ENTIRE YEAR!!! Space abounds in this partially furnished 2-bedroom, 2-bath home that offers the perfect blend of affordability, comfort, and Florida sunshine in one of the area’s most desirable WATERFRONT communities with direct GULF ACCESS via the Myakka River. Nicely updated with new vinyl flooring, freshly painted throughout, new water heater, plenty of storage, and both baths have been completely updated. The vapor barrier and insulation has been inspected, replaced and updated as needed to include the tiedowns. The screened lanai feels instantly welcoming, and adds extra space for casual dining, or relaxing with friends. Outside, sit in the sun on the front patio and enjoy your morning coffee or afternoon tea. The extra storage plus washer and dryer in the shed. Harbor Cove’s lifestyle is truly unmatched. The two-story clubhouse overlooking the 90-slip marina is the heart of the community, hosting dances, trivia nights, entertainment shows, card games, billiards, picnics, and more. The occasional food truck and vegetable market visits are a treat and very convenient. Residents enjoy two swimming pools, a hot tub, fitness room, tennis and pickleball, bocce, shuffleboard, and even an optional woodworking shop. With boat slips available for a minor fee, you can cruise miles of scenic waterways and enjoy some truly great fishing along the way. With beaches, golf, restaurants, Costco, retail shops, and quality medical services all nearby, this is the perfect place to enjoy an active, social, and relaxed Florida lifestyle.

17. 2025-04-01
    historical 706-char remark

    Show marketing remark (706 chars)

    Calling all Treasure Hunters. This double wide in popular Harbor Cove could be the opportunity you have been waiting for! Featuring 2 beds/2 baths and 1152 sq ft there is a lot of room inside. A renovation was started but then the hurricanes happened, and it was never completed. This is you chance to fix it up the way you want it in a vibrant 55+ community with lots of activities and social events. The fees are low and pets are welcome. At this low price, there is a lot of value for your money. Harbor Cove offers a community boat ramp, clubhouse, two heated pools, hot tub, pickle ball, and more. This is a convenient North Port location with proximity to US 41 and all area amenities. Easy to show.

18. 2025-04-01
    soldstatus $44,500 Closed 706-char remark

    Show marketing remark (706 chars)

    Calling all Treasure Hunters. This double wide in popular Harbor Cove could be the opportunity you have been waiting for! Featuring 2 beds/2 baths and 1152 sq ft there is a lot of room inside. A renovation was started but then the hurricanes happened, and it was never completed. This is you chance to fix it up the way you want it in a vibrant 55+ community with lots of activities and social events. The fees are low and pets are welcome. At this low price, there is a lot of value for your money. Harbor Cove offers a community boat ramp, clubhouse, two heated pools, hot tub, pickle ball, and more. This is a convenient North Port location with proximity to US 41 and all area amenities. Easy to show.

19. 2025-03-10
    status Pending 706-char remark

    Show marketing remark (706 chars)

    Calling all Treasure Hunters. This double wide in popular Harbor Cove could be the opportunity you have been waiting for! Featuring 2 beds/2 baths and 1152 sq ft there is a lot of room inside. A renovation was started but then the hurricanes happened, and it was never completed. This is you chance to fix it up the way you want it in a vibrant 55+ community with lots of activities and social events. The fees are low and pets are welcome. At this low price, there is a lot of value for your money. Harbor Cove offers a community boat ramp, clubhouse, two heated pools, hot tub, pickle ball, and more. This is a convenient North Port location with proximity to US 41 and all area amenities. Easy to show.

20. 2025-02-07
    status Active 706-char remark

    Show marketing remark (706 chars)

    Calling all Treasure Hunters. This double wide in popular Harbor Cove could be the opportunity you have been waiting for! Featuring 2 beds/2 baths and 1152 sq ft there is a lot of room inside. A renovation was started but then the hurricanes happened, and it was never completed. This is you chance to fix it up the way you want it in a vibrant 55+ community with lots of activities and social events. The fees are low and pets are welcome. At this low price, there is a lot of value for your money. Harbor Cove offers a community boat ramp, clubhouse, two heated pools, hot tub, pickle ball, and more. This is a convenient North Port location with proximity to US 41 and all area amenities. Easy to show.

21. 2025-02-01
    status Pending 706-char remark

    Show marketing remark (706 chars)

    Calling all Treasure Hunters. This double wide in popular Harbor Cove could be the opportunity you have been waiting for! Featuring 2 beds/2 baths and 1152 sq ft there is a lot of room inside. A renovation was started but then the hurricanes happened, and it was never completed. This is you chance to fix it up the way you want it in a vibrant 55+ community with lots of activities and social events. The fees are low and pets are welcome. At this low price, there is a lot of value for your money. Harbor Cove offers a community boat ramp, clubhouse, two heated pools, hot tub, pickle ball, and more. This is a convenient North Port location with proximity to US 41 and all area amenities. Easy to show.

22. 2025-01-24
    listed $59,900 Active 706-char remark

    Show marketing remark (706 chars)

    Calling all Treasure Hunters. This double wide in popular Harbor Cove could be the opportunity you have been waiting for! Featuring 2 beds/2 baths and 1152 sq ft there is a lot of room inside. A renovation was started but then the hurricanes happened, and it was never completed. This is you chance to fix it up the way you want it in a vibrant 55+ community with lots of activities and social events. The fees are low and pets are welcome. At this low price, there is a lot of value for your money. Harbor Cove offers a community boat ramp, clubhouse, two heated pools, hot tub, pickle ball, and more. This is a convenient North Port location with proximity to US 41 and all area amenities. Easy to show.

ⓘ 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: $1,087 · $91/mo
• Projected year-2 tax: $1,120 · $93/mo
• Expected delta: +$33/yr (+$3/mo · 3.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $21,012
• − Mortgage interest: −$7,562
• − Property taxes: −$1,087
• − Insurance: −$5,794
• − Repairs & maintenance: −$1,681
• − Management: −$1,681
• − HOA: −$96
• − Depreciation: −$3,927
• Taxable loss: −$816
• Est. tax savings @ 24.0%: +$196
• After-tax cash flow: $1,323/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

+125.4% since first listed

7 events — show timeline

• 2026-03-17 Listed $135,000 Stellar MLS as Distributed by MLS Grid
• 2025-04-01 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2025-04-01 Sold (MLS) $44,500 Stellar MLS as Distributed by MLS Grid
• 2025-03-10 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-02-07 Relisted — Stellar MLS as Distributed by MLS Grid
• 2025-02-01 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-01-24 Listed $59,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2025): $1,087 · -25.3% YoY. Source: county tax records.