🏠 2006 Built 3/2 MH on 0.74 Acres in Hillsborough Co

Built in 2006, this 1,248 sq. ft. manufactured property features a 3-bedroom, 2-bathroom layout on a 0.74-acre lot.  The property benefits from being a relatively newer manufactured build with major mechanicals still having plenty of life, making this primarily a cosmetic flip or flow play.

🟢 House Assets

• Build Quality: Built in 2006 to modern HUD standards, featuring drywall and updated insulation. Financeable for retail end-buyers (FHA/VA).
• 0.74-acre lot located in Flood Zone X.
• Major Mechanicals: Roof and AC were installed approximately in 2018 (8 years old). Both are in the middle of their useful life.
• Transaction includes a 15-day post-possession agreement backed by a $7,500 escrow holdback to ensure the seller vacates on time and without property damage.

🛠️ Repairs Needed (Estimated)

• Cosmetic Update: Full interior refresh required, including paint, flooring, baseboard trim, and modern lighting/plumbing fixtures.
• Kitchen & Baths: Assume full cosmetic updates—new cabinets, countertops, and vanities—to maximize ARV.
• Manufactured-Specific Checks: Budget for inspecting/repairing skirting, verifying hurricane tie-downs (crucial for backend FHA/VA retail financing), and checking for subfloor soft spots around wet areas.
• Landscaping

🟣 Comparable Sales

1. 11019 Spivey Rd – 3/2 | 1,611 sf | Sold $265,000 ($164/sf) on 01/15/2026 | 1998 Built | Condition: Standard/Updated (Direct street comp, establishes strong benchmark)

2. 11506 North St – 4/2 | 1,620 sf | Sold $295,000 ($182/sf) on 11/20/2025 | 1999 Built | Condition: Updated (Larger footprint and superior bedroom count)

3. 10632 E Bay Rd – 2/1 | 840 sf | Sold $145,000 ($173/sf) on 02/10/2026 | 1985 Built | Condition: Standard/Older (Inferior bed/bath count, footprint, and age; establishes absolute baseline floor)

💰 ARV & Rental Analysis

The closed sale of 11019 Spivey Rd at $265,000 serves as the primary benchmark and the absolute market ceiling, as it is located on the exact same street but features a significantly larger 1,611 sq. ft. footprint. While the subject property has a smaller 1,248 sq. ft. layout, it mitigates that gap by benefiting from a newer 2006 build year and a larger 0.71-acre lot compared to the comp’s 0.52 acres. Adjusting downward for the smaller living area while retaining a premium for the superior lot size securely anchors the ARV in the $$245,000 +/- range.

Estimated ARV: $245,000 +/-

Projected Rent: $1,800 – $2,200/mo +/-