1712 Gangway Loop · Ruskin, FL 33570

$39,500

2 bd · 1.5 ba · 892 sqft · SingleFamily · 17 Days on market

Built 1975 Fair condition

---

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 +4.2/10.0
• Livability +3.6/5.0
• Rent growth +2.7/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

GREAT DEAL!! Motivated seller. This home is in a land lease 55+ Community. Everyone in the home must be 55 or older. Located on the Scenic Little Manatee River w/ entrance to Tampa Bay & the Gulf. A Fisherman's Dream!! Has a Boat Ramp, Fish cleaning station, w/ 30 boat slip and an RV storage area available to rent either yearly or monthly. Fully furnished, including Washer and Dryer. New roof and 12x32 Car port in 2025. Raised Florida Room 22x10. Laundry room has double doors that open for golf cart storage. Outside shed 6x9 w/ lawn mower. $716/mo lot rent ( $75. increase starting July 1st) includes Spectrum Select 2 boxes, plus high speed Internet. Water/Sewer included, garbage pick

Key facts

• 30 boat slip
• New roof
• Boat ramp

Tags

• SCENIC LITTLE MANATEE RIVER
• BOAT RAMP
• FISH CLEANING STATION
• 30 BOAT SLIP
• RV STORAGE AREA
• NEW ROOF

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $40k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 39.9% vs local median 4.7% in Ruskin — 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 71/100 on livability (#392 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, commute B+; Watch: schools F, 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.
• Market conditions: Rents flat; 497 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 9,053 units permitted in Hillsborough County in 2024 (4,555 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $273 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Hillsborough County population projected at +37% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.9% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $38,907 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 4.42% ✓
• Cap rate: 39.88%
• Cash-on-cash: 119.94%
• DSCR: 6.34
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.9% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.46×
• Total profit: $60,420
• Equity at exit: $5,890

10-year hold

• IRR: —
• Equity multiple: 12.68×
• Total profit: $129,171
• Equity at exit: $3,415

Cash invested: $11,060 (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 33570

• Home prices YoY: -28.8%
• Rents YoY: 0.9%
• Active inventory: 497
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,745 medium
• Mortgage (P&I): −$207
• Tax est. 1.5%: −$49 /mo · $592/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $1,105

Break-even live

Break-even rent $346

Max offer price $39,500

Occupancy floor 32%

Sensitivity live

Price	-10% $1,133	-5% $1,119	+0% $1,105	+5% $1,092	+10% $1,078
Rent	-10% $968	-5% $1,037	+0% $1,105	+5% $1,174	+10% $1,243
Rate	-1.0pp $1,125	-0.5pp $1,115	base $1,105	+0.5pp $1,095	+1.0pp $1,085

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: $9,875
• Closing costs: $1,185
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
148 18th St NW Ruskin, FL	1.0	1.0	885	$1,500	$1.69	6d	1	1.35mi

Listing history 12 events

1. 2026-06-21
   days on market $39,500 Active 17 DOM
2. 2026-06-18
   days on market $39,500 Active 14 DOM
3. 2026-06-17
   days on market $39,500 Active 13 DOM
4. 2026-06-16
   days on market $39,500 Active 12 DOM
5. 2026-06-15
   days on market $39,500 Active 11 DOM
6. 2026-06-13
   days on market $39,500 Active 9 DOM
7. 2026-06-13
   days on market $39,500 Active 8 DOM
8. 2026-06-09
   days on market $39,500 Active 5 DOM
9. 2026-06-08
   days on market $39,500 Active 4 DOM
10. 2026-06-07
    days on market $39,500 Active 3 DOM
11. 2026-06-04
    remarks 695-char remark
12. 2026-06-04
    listed $39,500 Active 1 DOM

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 66% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,938
• − Mortgage interest: −$2,213
• − Property taxes: −$592
• − Insurance: −$198
• − Repairs & maintenance: −$1,675
• − Management: −$1,675
• − Depreciation: −$1,149
• Taxable income: $13,436
• Est. tax owed @ 24.0%: −$3,225
• After-tax cash flow: $10,041/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 · 10 photos

Fair 45/100 Moderate rehab

This home is in a fair condition with moderate repairs needed, particularly to the exterior and windows. Upgrades to paint, windows, and HVAC can significantly increase its resale and rental value.

Repairs flagged

• Moderate Exterior siding — Weathered and some discoloration visible
• Moderate Windows — Some wear on frames and screens
• Minor HVAC components — Some wear on components, likely due to age

Value-add opportunities

• Resale Paint interior walls — Fresh paint can significantly improve the home's appearance and value
• Resale Replace worn windows — New windows can improve energy efficiency and curb appeal
• Both Upgrade HVAC system — A more efficient HVAC system can improve comfort and reduce energy costs

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and some discoloration visible	Moderate	$3,000–15,000
Windows · Some wear on frames and screens	Moderate	$3,000–15,000
HVAC components · Some wear on components, likely due to age	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can significantly improve the home's appearance and value ↑
• Resale Replace worn windows — New windows can improve energy efficiency and curb appeal ↑
• Both Upgrade HVAC system — A more efficient HVAC system can improve comfort and reduce energy costs ↑

ⓘ 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: Hillsborough
• NCES district ID: 1200870
• Math proficiency: 47% ▼ -8.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $50,622
• Composite: 41.6/100
• National rank: #3435
• State rank: #41 of 73 in FL

Livability — Ruskin

• Score: 71/100
• State rank: #392
• US rank: #6879

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Hillsborough County · 1,540,968 people
• City population: 33,319
• Metro: Tampa-St. Petersburg-Clearwater, FL
• Population (ZIP): 33,319
• Household income: $72,172
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 611.0

Population outlook (Hillsborough County) Hauer SSP2

• Today (2025): 1,607,022 people
• By 2030: 1,733,968 · +7.9%
• By 2040: 1,979,565 · +23.2%
• By 2050: 2,203,427 · +37.1%
• By 2075: 2,667,893 · +66.0%
• By 2100: 2,891,558 · +79.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: White 40% Hispanic / Latino 32% Black 23% Two or more races 13% Asian 2%
• Hispanic origin (detail): Mexican 16% Puerto Rican 6% Cuban 1% Dominican 4%
• Common ancestry: Italian 2% Romanian 2% Hispanic 2%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 72% English-only · Spanish 23% French/Haitian/Cajun 2%

Political lean MEDSL · Hillsborough

• 2024 margin: Toss-up / Even · D 47.8% · R 50.9% · Other 1.3%
• 2008→2024 swing: -10.2pp toward R · 2008: 7.1pp · 2024: -3.1pp
• All cycles: 2024: R+3.1 2020: D+6.9 2016: D+6.8 2012: D+6.7 2008: D+7.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -112.10%
• Current HPI: 277.8257
• Rent YoY: ▲ 0.90%
• Metro: Tampa-St. Petersburg-Clearwater, 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

• 2026-06-04 Listed $39,500 ForSaleByOwner.com