9798 Sugarberry Way · Buckingham, FL 33905

$145,000

2 bd · 2.0 ba · 924 sqft · Manufactured public records · 75 Days on market

Built 1990 5,096 sqft lot Est $142k · at est. $140/mo HOA · 8% of rent

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Why this score? — see what drove the C- 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 +21.3/30.0
• 1% rule +6.8/10.0
• DSCR +6.8/10.0
• ARV discount +6.6/15.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very nice unit in a wonderful over 55 community. .. .This may need a little TLC but ready for the right owner. .This has a split floor plan, extra room so take a look. .. .

Key facts

• Extensively updated
• Move-in ready
• Low hoa fees

Tags

• OWN THE LAND
• LOW HOA FEES
• EXTENSIVELY UPDATED
• FULL REPLACEMENT OF PLUMBING
• NEW AC SYSTEM
• MOVE-IN READY

Property features AI

Finance

• Financial info: Pets allowed conditionally (call), maximum 2 pets, maximum pet weight 30 lbs
• HOA & community: Has homeowners association; Monthly association fee $140; Association covers management, internet, recreation facilities, road maintenance, street lights, and security; Community amenities include clubhouse, fitness center, pool, spa/hot tub, bocce court, pickleball, shuffleboard court, billiards/billiard room, barbecue/picnic area, pier, sidewalks, and trails; Gated community with street lights; Senior community

Exterior

• Parking: Assigned covered parking; Attached carport; 1 carport space; Driveway; Paved parking; Common parking
• Security: Security gate; Gated community; Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Manufactured home; 1 story; Vinyl siding; North-facing entry; Resale; Metal roof
• Construction: Manufactured construction; Vinyl siding; Metal roof
• Exterior features: Patio; Lanai; Porch; Screened porch; Shutters (manual); Community pool; Rectangular lot; Paved road; South exposure; Municipal irrigation

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator
• Bedrooms: Guest quarters
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Built-in features; Living/dining room; Pantry; Shower only; Separate shower; Split bedrooms; Single-hung windows; Partially furnished
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.6% in Buckingham — 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 70/100 on livability (#413 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, schools F, amenities F.
• Lee (suburban): math 47% / reading 50% proficiency, ranked #42 of 73 in FL (top 58%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-3.0%/yr); 763 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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.
• Current owner paid $110k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $136,300 (6.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.18% ✓
• Cap rate: 8.04%
• Cash-on-cash: 6.25%
• DSCR: 1.28
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $142,296
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9838 Sugarberry Way	0.04mi	2/2.0	896 (-3%)	4mo	$138,000	$154	90

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: -10.4%
• Equity multiple: 0.63×
• Total profit: $-14,915
• Equity at exit: $21,620

10-year hold

• IRR: -6.6%
• Equity multiple: 0.64×
• Total profit: $-14,512
• Equity at exit: $12,537

Cash invested: $40,600 (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 33905

• Home prices YoY: -31.4%
• Rents YoY: -3.0%
• Active inventory: 763
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,704 high
• Mortgage (P&I): −$760
• Tax from tax record: −$174 /mo · $2,090/yr
• Insurance: −$60
• HOA: −$140
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $211

Break-even live

Break-even rent $1,437

Max offer price $145,000

Occupancy floor 83%

Sensitivity live

Price	-10% $294	-5% $253	+0% $211	+5% $170	+10% $129
Rent	-10% $77	-5% $144	+0% $211	+5% $279	+10% $346
Rate	-1.0pp $284	-0.5pp $248	base $211	+0.5pp $174	+1.0pp $136

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9540 Green Cypress Ln #11 Fort Myers, FL	2.0	2.0	988	$2,500	$2.53	24d	1	0.37mi
9570 Green Cypress Ln #13 Fort Myers, FL	2.0	2.0	985	$2,800	$2.84	24d	1	0.39mi
4681 Lakeside Club Blvd #11 Fort Myers, FL	2.0	2.0	964	$1,300	$1.35	24d	1	0.46mi
9950 Sailview Ct #2 Fort Myers, FL	2.0	2.0	964	$1,500	$1.56	24d	1	0.56mi
9970 Sailview Ct #9 Fort Myers, FL	2.0	2.0	988	$1,150	$1.16	24d	1	0.58mi
9970 Sailview Ct #9 Fort Myers, FL	2.0	2.0	988	$1,100	$1.11	3d	1	0.58mi
4900 Tice St Unit 5 Fort Myers, FL	2.0	1.0	700	$800	$1.14	24d	1	0.97mi
328 Bellair Rd Fort Myers, FL	2.0	1.0	900	$1,500	$1.67	24d	1	1.22mi
4724 Tice St Fort Myers, FL	2.0	1.0	890	$1,100	$1.24	16d	1	1.22mi
580 Thomas Ave Fort Myers, FL	2.0	1.0	900	$1,200	$1.33	24d	1	1.29mi
464 Carolina Ave Unit A Fort Myers, FL	2.0	1.0	714	$1,150	$1.61	3d	1	1.31mi
464 Carolina Ave Fort Myers, FL	2.0	1.0	750	$975	$1.30	20d	1	1.31mi
141 Schneider Dr Fort Myers, FL	3.0	2.0	1048	$2,500	$2.39	24d	1	1.35mi
326 Chattanooga Dr Fort Myers, FL	2.0	1.0	895	$1,475	$1.65	21d	1	1.41mi
215 Delray Ave Fort Myers, FL	2.0	1.0	740	$1,450	$1.96	14d	1	1.41mi

HOA detail

• Monthly dues: $140 · $1,680/yr

Listing history 19 events

1. 2026-06-17
   price $145,000 Active 75 DOM
2. 2026-06-17
   days on market $150,000 Active 75 DOM
3. 2026-06-16
   days on market $150,000 Active 74 DOM
4. 2026-06-15
   days on market $150,000 Active 73 DOM
5. 2026-06-13
   days on market $150,000 Active 71 DOM
6. 2026-06-10
   days on market $150,000 Active 68 DOM
7. 2026-06-09
   days on market $150,000 Active 67 DOM
8. 2026-06-07
   days on market $150,000 Active 65 DOM
9. 2026-06-03
   days on market $150,000 Active 61 DOM
10. 2026-06-02
    days on market $150,000 Active 60 DOM
11. 2026-06-01
    days on market $150,000 Active 59 DOM
12. 2026-06-01
    days on market $150,000 Active 58 DOM
13. 2026-04-03
    listed $150,000 Active
14. 2021-12-07
    soldstatus $110,000 Closed 173-char remark

    Show marketing remark (173 chars)

    Very nice unit in a wonderful over 55 community. .. .This may need a little TLC but ready for the right owner. .This has a split floor plan, extra room so take a look. .. .

15. 2021-12-01
    soldstatus $110,000
16. 2021-10-08
    status Pending 173-char remark

    Show marketing remark (173 chars)

    Very nice unit in a wonderful over 55 community. .. .This may need a little TLC but ready for the right owner. .This has a split floor plan, extra room so take a look. .. .

17. 2020-09-30
    listed $124,500 Active 173-char remark

    Show marketing remark (173 chars)

    Very nice unit in a wonderful over 55 community. .. .This may need a little TLC but ready for the right owner. .This has a split floor plan, extra room so take a look. .. .

18. 2020-09-08
    soldstatus $75,000
19. 1990-08-28
    soldstatus $16,200

ⓘ 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: $2,090 · $174/mo
• Projected year-2 tax: $2,090 · $174/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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,453
• − Mortgage interest: −$8,122
• − Property taxes: −$2,090
• − Insurance: −$725
• − Repairs & maintenance: −$1,636
• − Management: −$1,636
• − HOA: −$1,680
• − Depreciation: −$4,218
• Taxable income: $345
• Est. tax owed @ 24.0%: −$83
• After-tax cash flow: $2,455/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: Lee
• NCES district ID: 1201080
• Math proficiency: 47% ▼ -11.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $49,518
• Composite: 41.49/100
• National rank: #3458
• State rank: #42 of 73 in FL

Livability — Buckingham

• Score: 70/100
• State rank: #413
• US rank: #7367

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• City population: 40,908
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 41,381
• Household income: $71,987
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 1358.0

Population outlook (Lee County) Hauer SSP2

• Today (2025): 871,946 people
• By 2030: 955,468 · +9.6%
• By 2040: 1,113,587 · +27.7%
• By 2050: 1,256,891 · +44.1%
• By 2075: 1,560,270 · +78.9%
• By 2100: 1,726,848 · +98.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 53% Hispanic / Latino 34% Two or more races 17% Black 9% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 5% Cuban 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 29% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Lee

• 2024 margin: Strong R (+28.4) · D 35.5% · R 63.9%
• 2008→2024 swing: -18.0pp toward R · 2008: -10.4pp · 2024: -28.4pp
• All cycles: 2024: R+28.4 2020: R+19.2 2016: R+20.4 2012: R+16.6 2008: R+10.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -122.89%
• Current HPI: 268.4598
• Rent YoY: ▼ -2.97%
• Metro: Cape Coral-Fort Myers, 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

+825.9% since first listed

7 events — show timeline

• 2026-04-03 Listed $150,000 FORTMLS
• 2021-12-07 Sold (MLS) $110,000 FORTMLS
• 2021-12-01 Sold (Public Records) $110,000 Public Records
• 2021-10-08 Pending — FORTMLS
• 2020-09-30 Listed $124,500 FORTMLS
• 2020-09-08 Sold (Public Records) $75,000 Public Records
• 1990-08-28 Sold (Public Records) $16,200 Public Records

Property tax history

+17.7%/yr

Latest (2025): $2,090 · -7.8% YoY. Source: county tax records.