3693 Blueberry Ln · St. James City, FL 33956

$5,000

2 bd · 1.0 ba · 784 sqft · Manufactured · 6 Days on market

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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 +4.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Yes, you can still be on the water on Pine Island for less than $300,000. This neat and clean single-wide mobile is in St. James city’s Cherry Estates. From your lift by your composite dock, you can cruise your boat through the quick, deep canal to San Carlos Bay and all of the fishing, beaching and boating that Pine Island is famous for. You can watch dolphin and manatees, and catch fish from your dock. Inside you will find a 2/1 with an open kitche/dining room plus a screened porch and large workshop. This is perfect as a rental investment or a vacation/retirement home.

Key facts

• Listed 5 days

Property features AI

Finance

• Other: Directions: From Pine Island Rd, continue south on Stringfellow Rd, then turn onto Blueberry Ln and continue to the property.

Exterior

• Home design: Manufactured home (residential)
• Construction: Located on 0.09-acre lot
• Exterior features: Lot zoned MH-1

Interior

• Bathrooms: 1 full bathroom
• Interior features: One full bathroom

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $5k.

Deal economics

• At list price, monthly cash flow is $2k ($20k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $5k).
• Cap rate 503.8% vs local median 4.9% in St. James City — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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: 287 active listings in the ZIP; 3 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 $35 of loan paydown is wiped out by about $150 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $5,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 53.35% ✓
• Cap rate: 503.76%
• Cash-on-cash: 1776.67%
• DSCR: 80.05
• GRM: 0.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 75.53×
• Total profit: $104,342
• Equity at exit: $746

10-year hold

• IRR: —
• Equity multiple: 163.21×
• Total profit: $227,099
• Equity at exit: $432

Cash invested: $1,400 (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 33956

• Home prices YoY: -16.3%
• Active inventory: 287
• Price-to-rent: 0.2×

Monthly cashflow live

• Estimated rent: $2,668 medium
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$560
• Net cashflow: $1,646

Break-even live

Break-even rent $584

Max offer price $5,000

Occupancy floor 33%

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3864 Royal Palm Dr Saint James City, FL	2.0	1.0	960	$1,650	$1.72	23d	1	0.18mi
3103 Harpoon Ln Saint James City, FL	2.0	2.0	1094	$3,000	$2.74	23d	1	0.33mi
2744 Sanderling Ct Saint James City, FL	2.0	1.0	841	$5,300	$6.30	23d	1	0.62mi

Listing history 5 events

1. 2026-06-10
   days on market $5,000 Active 6 DOM
2. 2026-06-09
   days on market $5,000 Active 5 DOM
3. 2026-06-08
   days on market $5,000 Active 4 DOM
4. 2026-06-07
   remarks 294-char remark
5. 2026-06-07
   listed $5,000 Active 3 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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,010
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$5,144
• − Repairs & maintenance: −$2,561
• − Management: −$2,561
• − Depreciation: −$145
• Taxable income: $21,245
• Est. tax owed @ 24.0%: −$5,099
• After-tax cash flow: $14,656/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 — St. James City

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. James City, FL
• Population (ZIP): 3,846

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 (94%)
• Race & ethnicity: White 94% Two or more races 3% Pacific Islander 2% Hispanic / Latino 1%
• Common ancestry: Romanian 6% Slovak 4% Iranian 3%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · French/Haitian/Cajun 2% German/W. Germanic 2% 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: ▼ -58.47%
• Current HPI: 300.1416
• Rent YoY: —
• Metro: —
• 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

-91.5% since first listed

15 events — show timeline

• 2026-06-04 Listed $5,000 NFMLS
• 2024-10-31 Listing Removed — FORTMLS
• 2024-04-24 Price Changed $199,900 FORTMLS
• 2024-03-29 Price Changed $209,000 FORTMLS
• 2024-03-26 Price Changed $219,000 FORTMLS
• 2024-02-27 Listed $225,000 FORTMLS
• 2022-06-01 Sold (Public Records) $255,000 Public Records
• 2022-05-31 Sold (MLS) $255,000 FORTMLS
• 2022-04-23 Pending — FORTMLS
• 2022-04-18 Price Changed $274,900 FORTMLS
• 2022-04-05 Listed $299,900 FORTMLS
• 2008-04-16 Sold (Public Records) $170,000 Public Records
• 1999-03-22 Sold (Public Records) $58,000 Public Records
• 1995-05-18 Sold (Public Records) $58,900 Public Records
• 1993-03-01 Sold (Public Records) $58,500 Public Records

Property tax history

+2.3%/yr

Latest (2025): $2,476 · -34.0% YoY. Source: county tax records.