102 Lantern Pl · North Fort Myers, FL 33917

$89,000

2 bd · 1.0 ba · 494 sqft · Manufactured public records · 20 Days on market

Built 1964 4,225 sqft lot

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Welcome to this beautifully renovated mobile home where comfort and tranquility come together! This charming property features 2 spacious bedrooms, 1 updated bathroom, and an open-concept kitchen and living area, creating a bright and inviting space perfect for everyday living and entertaining. The home includes and sits on its own land — meaning you own the land outright with no lot rent! This makes it an excellent investment opportunity or full-time residence. Conveniently located in a highly desirable area, you’ll enjoy easy access to shopping, dining, and local attractions while still experiencing a peaceful atmosphere. Located in a wonderful and well-maintained community kn

Key facts

• Open-concept kitchen
• Own land
• 4,225 sq ft lot

Tags

• RENOVATED MOBILE HOME
• OPEN-CONCEPT KITCHEN
• OWN LAND
• INVESTMENT OPPORTUNITY
• EASY ACCESS TO SHOPPING
• WELL-MAINTAINED COMMUNITY

Property features AI

Finance

• Other: Zoned MH-2; Total acreage: less than 1/4 acre; Lot size approximately 0.1 acre; Living area reported as 494 square feet
• Financial info: No lease restrictions; Unfurnished
• HOA & community: Senior community; Condo land included

Exterior

• Parking: Carport with 1 space
• Security: No security features listed
• Utilities: Electricity available; Cable available; Water available; Septic needed
• Home design: Attached double-wide mobile home; Single-story; Property faces east
• Construction: Other construction materials; Shingle roof; Completed condition
• Exterior features: Asphalt road access

Interior

• Kitchen: Convection oven; Refrigerator
• Bedrooms: 2 bedrooms (one-level)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; Wall/window air conditioning units
• Interior features: No additional interior features listed
• Laundry & utility: Washer; Dryer; Laundry inside the home

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $89k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $88k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.2% 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.
• Zoned schools: Bayshore Elementary School (math 60% / reading 48%, grade C, #936 of 2,144 statewide, top 44%, 603 students, 44% FRL); North Fort Myers High School (math 59% / reading 73%, grade B, #73 of 667 statewide, top 11%, 1,874 students, 33% FRL) — zoned schools average 39% FRL vs 57% district-wide (19 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents rising (+2.6%/yr); 841 active listings in the ZIP; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 32% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 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 20 days — a 2% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $18k; list at $89k implies a 409% gain — meaningful room to come down on a strong offer.

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 $87,665 (1.5% below list)

Questions for the listing agent

1. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.62% ✓
• Cap rate: 13.23%
• Cash-on-cash: 24.77%
• DSCR: 2.10
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -10.0%
• Equity multiple: 0.64×
• Total profit: $-9,074
• Equity at exit: $13,270

10-year hold

• IRR: -1.0%
• Equity multiple: 0.93×
• Total profit: $-1,700
• Equity at exit: $7,695

Cash invested: $24,920 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,444 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$123 /mo · $1,473/yr
• Insurance: −$37
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $88

Break-even live

Break-even rent $1,333

Max offer price $89,000

Occupancy floor 89%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $89,000 Active 20 DOM
2. 2026-06-17
   days on market $89,000 Active 19 DOM
3. 2026-06-16
   days on market $89,000 Active 18 DOM
4. 2026-06-15
   days on market $89,000 Active 17 DOM
5. 2026-06-13
   days on market $89,000 Active 15 DOM
6. 2026-06-10
   days on market $89,000 Active 12 DOM
7. 2026-06-09
   days on market $89,000 Active 11 DOM
8. 2026-06-08
   days on market $89,000 Active 10 DOM
9. 2026-06-07
   days on market $89,000 Active 9 DOM
10. 2026-06-03
    days on market $89,000 Active 5 DOM
11. 2026-06-02
    days on market $89,000 Active 4 DOM
12. 2026-06-01
    days on market $89,000 Active 3 DOM
13. 2026-05-31
    days on market $89,000 Active 2 DOM

ⓘ 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: $1,473 · $123/mo
• Projected year-2 tax: $1,473 · $123/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 6/10 Major FEMA zone AE · 51% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $17,330
• − Mortgage interest: −$4,985
• − Property taxes: −$1,473
• − Insurance: −$5,564
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$2,589
• Taxable loss: −$54
• Est. tax savings @ 24.0%: +$13
• After-tax cash flow: $1,067/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

+408.6% since first listed

4 events — show timeline

• 2026-05-29 Listed $89,000 Stellar MLS as Distributed by MLS Grid
• 2022-08-02 Listing Removed — FORTMLS
• 2022-07-03 Listed $89,500 FORTMLS
• 1982-03-01 Sold (Public Records) $17,500 Public Records

Property tax history

+11.7%/yr

Latest (2025): $1,473 · +4.0% YoY. Source: county tax records.