248 Flame Ln · North Fort Myers, FL 33917

$114,900

2 bd · 3.0 ba · 624 sqft · Manufactured public records · 15 Days on market

Built 1967 3,963 sqft lot

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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 +24.7/30.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.2/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Unique income-producing opportunity or multi-generational living option! This well-maintained manufactured home features two separate units, each with its own carport and private living spaces. The main unit offers 2 bedrooms and 1.5 baths, with fresh vinyl flooring and new carpet throughout for a clean, modern feel. The second unit is a cozy efficiency with a full kitchen, perfect for guests, extended family, or rental income. Located in a friendly community with optional HOA dues of just $28/month, residents can enjoy access to amenities including a Bocce court, library, and community center. Conveniently situated just minutes from grocery stores, dining, entertainment, and everyday neces

Key facts

• Full kitchen
• Bocce court
• Community center

Tags

• INCOME PRODUCING OPPORTUNITY
• SEPARATE UNITS
• PRIVATE LIVING SPACES
• FULL KITCHEN
• BOCCE COURT
• COMMUNITY CENTER

Property features AI

Finance

• Other: Pets allowed
• Financial info: Gross scheduled income: $24,600
• HOA & community: Community amenities include bocce court, clubhouse, and library; Association fee listed as $0

Exterior

• Utilities: Public water; Septic tank sewer; Cable not available
• Home design: Manufactured home; Resale property
• Construction: Aluminum siding; Rolled/Hot Mop roof
• Exterior features: Fruit trees; Rectangular lot; Lot dimensions approximately 55 x 95

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Jalousie windows; Shutters

What this means for you Summary

Snapshot

• This is a 2-bed/3.0-bath manufactured listed at $115k.

Deal economics

• At list price, monthly cash flow is $-186 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $82k (28.6% below list).
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $82k (28.6% below list) — sets the bar for cash-flow.
• Cap rate 8.8% vs local median 3.6% in North Fort Myers — 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 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute 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 rising (+2.6%/yr); 841 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 $794 of loan paydown is wiped out by about $3k 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 15 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $82,065 (28.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.12% ✓
• Cap rate: 8.81%
• Cash-on-cash: 8.98%
• DSCR: 1.40
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $70,512
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
272 Flame Ln	0.06mi	1/1.0 (-1)	576 (-8%)	20mo	$65,000	$113	55

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -28.6%
• Equity multiple: 0.05×
• Total profit: $-30,665
• Equity at exit: $17,132

10-year hold

• IRR: -29.3%
• Equity multiple: -0.33×
• Total profit: $-42,794
• Equity at exit: $9,934

Cash invested: $32,172 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,282 high
• Mortgage (P&I): −$603
• Tax from tax record: −$122 /mo · $1,462/yr
• Insurance: −$48
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $-186

Break-even live

Break-even rent $1,517

Max offer price $82,065

Occupancy floor —

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: $28,725
• Closing costs: $3,447
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
121 Coachlight Ln North Fort Myers, FL	1.0	1.0	552	$795	$1.44	23d	1	0.05mi
137 Lantern Pl North Fort Myers, FL	1.0	1.0	580	$975	$1.68	2d	1	0.10mi
249 Fireball Ln North Fort Myers, FL	2.0	1.5	624	$1,350	$2.16	3d	1	0.17mi
7535 McDaniel Dr North Fort Myers, FL	2.0	1.0	644	$850	$1.32	14d	1	0.60mi
7535 McDaniel Dr North Fort Myers, FL	2.0	1.0	644	$850	$1.32	23d	1	0.60mi
7869 Suncoast Dr North Fort Myers, FL	2.0	1.0	564	$850	$1.51	2d	1	1.02mi
2211 Cantor Ln North Fort Myers, FL	2.0	2.0	672	$850	$1.26	2d	1	1.13mi
8028 Breeze Dr North Fort Myers, FL	2.0	1.0	750	$850	$1.13	23d	1	1.28mi
1640 Daniels Dr Unit B North Fort Myers, FL	1.0	1.0	400	$1,099	$2.75	23d	1	1.34mi

Listing history 26 events

1. 2026-06-10
   days on market $114,900 Active 15 DOM
2. 2026-06-09
   days on market $114,900 Active 14 DOM
3. 2026-06-08
   days on market $114,900 Active 13 DOM
4. 2026-06-07
   days on market $114,900 Active 12 DOM
5. 2026-06-03
   days on market $114,900 Active 8 DOM
6. 2026-06-02
   days on market $114,900 Active 7 DOM
7. 2026-06-01
   days on market $114,900 Active 6 DOM
8. 2026-05-31
   days on market $114,900 Active 5 DOM
9. 2026-05-26
   listed $114,900 Active
10. 2026-05-21
    historical
11. 2026-04-29
    price $109,800
12. 2026-02-20
    historical $1,250
13. 2026-02-03
    listed $109,900 Active
14. 2026-02-02
    historical
15. 2026-01-23
    listed $1,250
16. 2026-01-23
    historical $1,250
17. 2026-01-22
    listed $1,250
18. 2025-12-12
    historical $1,295
19. 2025-12-12
    listed $125,000 Active
20. 2025-11-12
    price $1,295
21. 2025-11-08
    listed $1,500
22. 2024-06-11
    historical
23. 2024-05-16
    price $159,100
24. 2024-04-01
    listed $159,900 Active
25. 2022-05-24
    soldstatus $125,000
26. 1997-06-09
    soldstatus $24,000

ⓘ 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: $1,462 · $122/mo
• Projected year-2 tax: $1,462 · $122/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 5/10 Major FEMA zone AE · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $15,386
• − Mortgage interest: −$6,436
• − Property taxes: −$1,462
• − Insurance: −$5,693
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$3,343
• Taxable loss: −$4,009
• Est. tax savings @ 24.0%: +$962
• After-tax cash flow: $-1,268/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 — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 57,035
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 33,380
• Household income: $55,000
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 775.0

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: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 1% Russian/Polish/Slavic 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: ▼ -122.28%
• Current HPI: 282.2895
• Rent YoY: ▲ 2.63%
• 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

+378.8% since first listed

18 events — show timeline

• 2026-05-26 Listed $114,900 FORTMLS
• 2026-05-21 Listing Removed — FORTMLS
• 2026-04-29 Price Changed $109,800 FORTMLS
• 2026-02-20 Rental Removed $1,250 NAPLESMLS
• 2026-02-03 Listed $109,900 FORTMLS
• 2026-02-02 Listing Removed — FORTMLS
• 2026-01-23 Listed for Rent $1,250 NAPLESMLS
• 2026-01-23 Rental Removed $1,250 FORTMLS
• 2026-01-22 Listed for Rent $1,250 FORTMLS
• 2025-12-12 Rental Removed $1,295 NAPLESMLS
• 2025-12-12 Listed $125,000 FORTMLS
• 2025-11-12 Price Changed $1,295 NAPLESMLS
• 2025-11-08 Listed for Rent $1,500 NAPLESMLS
• 2024-06-11 Listing Removed — FORTMLS
• 2024-05-16 Price Changed $159,100 FORTMLS
• 2024-04-01 Listed $159,900 FORTMLS
• 2022-05-24 Sold (Public Records) $125,000 Public Records
• 1997-06-09 Sold (Public Records) $24,000 Public Records

Property tax history

+9.7%/yr

Latest (2025): $1,462 · -1.4% YoY. Source: county tax records.