10411 Ratell Ave

Gibsonton, FL 33534

$175,000C+

2 bd · 2.0 ba · 1,090 sqft · Built 1985 · Manufactured · Pending · 68 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,002/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$223
• HOA: −$0
• Vac / Maint / Mgmt: −$420
• Net cashflow: $441/mo
• Annual: $5,286/yr
• Cap rate: 9.31%
• Cash-on-cash: 10.79%
• DSCR: 1.48
• 1% rule: 1.14%
• Cash to close: $49,000

Investor read

• This is a 2-bed/2.0-bath manufactured listed at $175k.
• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 68 days — a 6% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $164k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 69/100 on livability (#479 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute A-; Watch: amenities F, health & safety F.
• Hillsborough (suburban): math 47% / reading 50% proficiency, ranked #41 of 73 in FL (top 56%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Gibsonton Elementary School (math 38% / reading 31%, grade F, #1,709 of 2,144 statewide, top 81%, 510 students, 82% FRL); Dowdell Middle Magnet School (math 23% / reading 29%, grade F, #506 of 571 statewide, top 89%, 526 students, 76% FRL); East Bay High School (math 24% / reading 35%, grade F, #447 of 667 statewide, top 68%, 1,995 students, 51% FRL) — zoned schools average 70% FRL vs 52% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 48% district-wide (-18 pts) — the specific schools serving this property underperform the Hillsborough average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+8.1%/yr); 107 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Current owner paid $18k; list at $175k implies a 872% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $49k cash investment doubles in ~7 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• 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 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?
• 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.
• 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.