361 Tampico Dr · Palmetto, FL 34221

$50,000

3 bd · 1.0 ba · 1,152 sqft · Manufactured public records · 207 Days on market

Built 1975 3,733 sqft lot $295/mo HOA · 13% of rent ↓ 56% since listing

---

Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.4/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Calling all PROJECT SEEKERS and CREATIVE RENOVATORS — this one’s for you! Located in the highly sought-after TROPIC ISLES, A 55+ resident-owned waterfront community, this hurricane-damaged mobile home is ready for your vision and craftsmanship. Perfect for those who love a challenge and see opportunity where others see work. Whether you choose to repair, replace, or rebuild, this property offers endless potential in a waterfront lifestyle setting with community amenities including marina, pool, clubhouse, and active social calendar. Sold AS-IS. Cash offers only. Come turn this blank canvas into your Florida dream retreat!

Key facts

• 3,733 sq ft lot
• Built 1975
• Listed 207 days

Property features AI

Finance

• Other: Total living area 1,152 (public records); Total building area 1,932 (public records); Lot approximately 0.09 acres (about 347 m²); Road surface: Asphalt; Universal property ID on file
• Financial info: Total monthly fees $295; total annual fees $3,540; Lease restrictions apply
• HOA & community: Monthly association fee of $295 (association approval required); Association name: BARBARA MCEVOY; Street lights in community; Senior community; Pets allowed (cats and dogs), max pet weight 30 lbs

Exterior

• Parking: Asphalt road access
• Utilities: Public water; Public sewer; Sewer and water available
• Home design: Residential mobile home (double wide); One story; Faces north; Entry level: One
• Construction: Vinyl siding; Other roof type; Crawlspace foundation; Built on double wide body type
• Exterior features: Storage

Interior

• Kitchen: Other appliances
• Bedrooms: 3 bedrooms
• Flooring: Other flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Other heating; Other cooling
• Interior features: Other interior features
• Laundry & utility: Other laundry features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $648 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 32.1% vs local median 2.0% in Palmetto — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 72/100 on livability (#346 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: crime F, amenities F, commute F.
• Manatee (suburban): math 54% / reading 50% proficiency, ranked #26 of 73 in FL (top 36%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-3.0%/yr); 1160 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 7,472 units permitted in Manatee County in 2024 (1,782 in 5+ unit buildings).
• This rent runs 35% of the median local income ($78k/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 $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Manatee County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 207 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; 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 $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 207 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 4.56% ✓
• Cap rate: 32.08%
• Cash-on-cash: 92.08%
• DSCR: 5.10
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $248,832
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
214 Bimini Dr	0.31mi	2/2.0 (-1)	1,152 (0%)	4mo	$405,000	$352	73
322 Terra Ceia Dr	0.10mi	2/2.0 (-1)	1,248 (+8%)	3mo	$400,000	$321	70
57 Edessa Dr	0.37mi	2/2.0 (-1)	1,128 (-2%)	3mo	$219,000	$194	68
51 Edessa Dr	0.38mi	2/2.0 (-1)	1,200 (+4%)	1mo	$225,000	$188	65
203 Bimini Dr	0.28mi	2/2.0 (-1)	1,008 (-12%)	9mo	$240,000	$238	50
68 Edessa Dr	0.39mi	2/2.0 (-1)	1,296 (+12%)	3mo	$225,000	$174	50
223 Bimini Dr	0.37mi	2/2.0 (-1)	1,298 (+13%)	14mo	$280,000	$216	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 47.9%
• Equity multiple: 2.93×
• Total profit: $27,001
• Equity at exit: $7,455

10-year hold

• IRR: 51.3%
• Equity multiple: 4.78×
• Total profit: $52,957
• Equity at exit: $4,323

Cash invested: $14,000 (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 34221

• Rents YoY: -3.0%
• Active inventory: 1160
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $2,282 high
• Mortgage (P&I): −$262
• Tax from tax record: −$150 /mo · $1,801/yr
• Insurance: −$21
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$295
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $648

Break-even live

Break-even rent $1,462

Max offer price $50,000

Occupancy floor 67%

Sensitivity live

Price	-10% $676	-5% $662	+0% $648	+5% $634	+10% $619
Rent	-10% $468	-5% $558	+0% $648	+5% $738	+10% $828
Rate	-1.0pp $673	-0.5pp $660	base $648	+0.5pp $635	+1.0pp $622

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1213 31st Ave W Palmetto, FL	2.0	1.5	880	$1,475	$1.68	24d	1	0.30mi
105 Del Rio Dr Palmetto, FL	2.0	1.0	872	$1,600	$1.83	17d	1	0.38mi
1715 9th St W Palmetto, FL	2.0	2.0	1104	$2,000	$1.81	24d	1	0.91mi
2625 Terra Ceia Bay Blvd #401 Palmetto, FL	2.0	2.0	1349	$3,495	$2.59	24d	1	0.94mi
2625 Terra Ceia Bay Blvd #802 Palmetto, FL	2.0	2.0	1148	$2,395	$2.09	24d	1	0.94mi
2602 Edgewater Ct Palmetto, FL	2.0	2.0	1253	$4,000	$3.19	24d	1	0.98mi
1514 Fairway Oaks Dr Palmetto, FL	3.0	2.0	1461	$1,540	$1.05	11d	1	1.00mi
1901 6th St W Palmetto, FL	2.0	2.0	1360	$2,200	$1.62	4d	1	1.01mi
2725 Terra Ceia Bay Blvd #102 Palmetto, FL	2.0	2.0	1256	$2,200	$1.75	17d	1	1.01mi
2725 Terra Ceia Bay Blvd #201 Palmetto, FL	3.0	2.0	1486	$2,200	$1.48	3d	1	1.01mi
2225 14th Ave W Unit 204 Palmetto, FL	2.0	2.0	1120	$1,795	$1.60	24d	1	1.10mi
2225 14th Ave W Palmetto, FL	2.0	2.0	1120	$1,895	$1.69	24d	1	1.10mi
2320 Terra Ceia Bay Blvd #211 Palmetto, FL	2.0	2.0	978	$2,500	$2.56	24d	1	1.11mi
1213 15th St W Palmetto, FL	2.0	1.0	1000	$1,800	$1.80	24d	1	1.18mi
515 15th Ave W Palmetto, FL	3.0	1.0	1250	$1,699	$1.36	3d	1	1.24mi
1229 11th Ave W Palmetto, FL	3.0	1.0	1072	$1,800	$1.68	3d	1	1.30mi
3115 Live Oak Ln #30 Palmetto, FL	2.0	2.0	1253	$3,695	$2.95	24d	1	1.36mi

HOA detail

• Monthly dues: $295 · $3,540/yr
• Likely covers: waterpool

Listing history 25 events

1. 2026-06-18
   days on market $50,000 Active 207 DOM
2. 2026-06-17
   days on market $50,000 Active 206 DOM
3. 2026-06-16
   days on market $50,000 Active 205 DOM
4. 2026-06-15
   days on market $50,000 Active 204 DOM
5. 2026-06-13
   days on market $50,000 Active 202 DOM
6. 2026-06-13
   days on market $50,000 Active 201 DOM
7. 2026-06-10
   days on market $50,000 Active 199 DOM
8. 2026-06-09
   days on market $50,000 Active 198 DOM
9. 2026-06-08
   days on market $50,000 Active 197 DOM
10. 2026-06-08
    days on market $50,000 Active 196 DOM
11. 2026-06-03
    days on market $50,000 Active 192 DOM
12. 2026-06-02
    days on market $50,000 Active 191 DOM
13. 2026-06-01
    days on market $50,000 Active 190 DOM
14. 2026-05-31
    days on market $50,000 Active 189 DOM
15. 2026-02-26
    status Active
16. 2026-02-11
    status Pending
17. 2025-11-08
    listed $50,000 Active
18. 2024-09-17
    status Pending
19. 2024-08-21
    price $180,000
20. 2024-07-26
    listed $200,000 Active
21. 2024-06-08
    historical
22. 2023-12-08
    listed $225,000 Active
23. 2007-05-01
    soldstatus $95,000
24. 2007-05-01
    soldstatus $95,000
25. 2007-03-12
    listed $114,900

ⓘ 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: $1,801 · $150/mo
• Projected year-2 tax: $1,801 · $150/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,378
• − Mortgage interest: −$2,801
• − Property taxes: −$1,801
• − Insurance: −$5,368
• − Repairs & maintenance: −$2,190
• − Management: −$2,190
• − HOA: −$3,540
• − Depreciation: −$1,455
• Taxable income: $8,033
• Est. tax owed @ 24.0%: −$1,928
• After-tax cash flow: $5,845/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: Manatee
• NCES district ID: 1201230
• Math proficiency: 54% ▼ -6.00%
• Reading proficiency: 50% ▼ -2.00%
• Median HH income: $49,607
• Composite: 44.43/100
• National rank: #2806
• State rank: #26 of 73 in FL

Livability — Palmetto

• Score: 72/100
• State rank: #346
• US rank: #5695

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmetto, FL
• County: Manatee County · 416,364 people
• City population: 56,208
• Metro: North Port-Sarasota-Bradenton, FL
• Population (ZIP): 56,208
• Household income: $77,712
• Rent vs Own: 17.1% rent · 82.9% own
• Severe rent burden: 1193.0

Population outlook (Manatee County) Hauer SSP2

• Today (2025): 447,342 people
• By 2030: 488,911 · +9.3%
• By 2040: 567,934 · +27.0%
• By 2050: 637,995 · +42.6%
• By 2075: 781,970 · +74.8%
• By 2100: 848,272 · +89.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 59% Hispanic / Latino 22% Black 14% Two or more races 11%
• Hispanic origin (detail): Mexican 14% Puerto Rican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 10% · Canada, Dominican Republic, Jamaica
• Languages at home: 81% English-only · Spanish 16% Other Indo-European 1%

Political lean MEDSL · Manatee

• 2024 margin: Strong R (+23.5) · D 37.9% · R 61.4%
• 2008→2024 swing: -16.5pp toward R · 2008: -7.0pp · 2024: -23.5pp
• All cycles: 2024: R+23.5 2020: R+16.1 2016: R+17.1 2012: R+12.5 2008: R+7.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -383.53%
• Current HPI: 302.1458
• Rent YoY: ▼ -2.98%
• 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

-56.5% since first listed

11 events — show timeline

• 2026-02-26 Relisted — Stellar MLS as Distributed by MLS Grid
• 2026-02-11 Pending — Stellar MLS as Distributed by MLS Grid
• 2025-11-08 Listed $50,000 Stellar MLS as Distributed by MLS Grid
• 2024-09-17 Pending — Stellar MLS as Distributed by MLS Grid
• 2024-08-21 Price Changed $180,000 Stellar MLS as Distributed by MLS Grid
• 2024-07-26 Listed $200,000 Stellar MLS as Distributed by MLS Grid
• 2024-06-08 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2023-12-08 Listed $225,000 Stellar MLS as Distributed by MLS Grid
• 2007-05-01 Sold (Public Records) $95,000 Public Records
• 2007-05-01 Sold (MLS) $95,000 Stellar MLS as Distributed by MLS Grid
• 2007-03-12 Listed $114,900 Stellar MLS as Distributed by MLS Grid

Property tax history

+1.8%/yr

Latest (2025): $1,801 · -3.5% YoY. Source: county tax records.