Property Description:
This 2-Bed, 1-Bath Double-Wide Sits on a Large Lot with Potential to Subdivide — Immediate Rental Income with Long-Term Upside
Located in Wildwood on a 0.37-acre lot, this 960 sq ft 1976 double-wide manufactured home offers a low-entry price point with multiple exit strategies. The neighborhood is a mix of single-family residences and mobile homes, making it ideal for either a rental hold, redevelopment, or a potential lot split for added value.
🛠️ Light Value-Add — Rental Ready with Expansion Potential
The home is livable as-is, with a cooperative month-to-month tenant who’s open to staying or vacating as needed. The interior feels a bit cramped due to clutter and low ceilings in spots, but a simple clean-out will open it up. There’s no central AC, but adding ductwork beneath the home or installing mini-splits would be a quick, cost-effective upgrade.
Expected rent post-cleanup is around $1,000/month. However, the real play is the oversized lot—there’s a possibility to subdivide and place a second manufactured home, doubling cash flow. This will require county approval, but if feasible, it turns this into a high-yield investment.
📊 What the Market Says
Affordable housing demand remains strong in Wildwood, especially for mobile homes on owned land. While comps were limited, here’s what the local market shows:
- Only Active: 1,456 sq ft double-wide on 0.48 acres listed at $175,000
- Recent Sales:
🔵 315 Young Cir – 1,232 sq ft (2000 build) – Sold for $127K on 5/22/24
🔵 4300 County Road 138 – 530 sq ft (1961 build) – Sold for $70K on 6/21/24
🔵 3551 County Road 230b – 720 sq ft (1976 build) – Sold for $85K on 9/16/24
🔵 5133 County Road 132a – 784 sq ft (1985 build) – Sold for $130K on 10/17/24
Single-family homes in this area trade much higher, supporting strong land value even if you stick with mobile homes.
📈 Redevelopment Option — New Double-Wide Analysis
If you decide to remove the existing structure and place a new double-wide, here’s a rough cost estimate:
| Item | Estimated Cost |
|---|---|
| Remove Existing Home | $7,500 |
| New Double-Wide (3/2, ~1,200 sq ft) | $80,000 – $90,000 |
| Delivery & Setup | $6,000 |
| Utility Hookups & Permits | $8,000 |
| Skirting, Steps, Landscaping | $3,000 |
| Total | $104K – $115K |
A modern 3/2 double-wide in this location could rent for $1,300–$1,500/month depending on finishes—offering a strong cash-on-cash return.
If subdivision is approved, duplicating this process could generate $2,600–$3,000/month in gross rent across two units.
📍 Wildwood, FL — Mixed-Use Neighborhood with Flexibility
This pocket of Wildwood offers flexibility for investors—whether you’re holding for cash flow, repositioning with a new home, or exploring a lot split for maximum yield. It’s not the top-tier neighborhood, but it’s stable and caters well to affordable housing demand.
💡 Whether you’re looking for steady rental income, a redevelopment play, or a long-term land hold, this property delivers multiple paths to profit—especially if subdivision is on the table.