101 Elise Dr · Iona, FL 33908

$184,900

2 bd · 2.0 ba · 1,236 sqft · Manufactured public records · 41 Days on market

Built 1974 4,965 sqft lot Est $247k · 25% under $100/mo HOA · 5% of rent

---

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 +25.0/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.3/10.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

A charming manufactured home that is meticulously maintained, updated with all the important safety aspects of a home. 2 bedroom + Den! 2 bath! DOUBLE WIDE! Move-in ready! Turn-key furnished! Fall in Love with this bright & airy, filled with coastal themed décor and is WITHIN MINUTES OF FORT MYERS BEACH! You own the land! You have 55+ lifestyle living & activities! ALL with low HOA fees of $100 / month! (incl. Cable/Wi-Fi & Trash pick up). ALSO enjoy the Covered Carport, Golf Cart Parking, Extra Den for office or guest space, 3 season fully glassed/screened room, AC in HUGE utility/workshop/laundry room, Private Back Patio, abundance of built in closets, cabinetry

Key facts

• Turn-key furnished
• Manufactured home
• Double wide

Tags

• MANUFACTURED HOME
• DOUBLE WIDE
• TURN-KEY FURNISHED
• COVERED CARPORT
• GOLF CART PARKING
• EXTRA DEN

Property features AI

Finance

• Financial info: Pets allowed with conditions (call). Maximum 2 pets; small breeds may be limited and must be registered with county.
• HOA & community: Homeowners association with monthly fee ($100); Association covers management, cable TV, insurance, internet, legal/accounting, recreation facilities, reserve fund, road maintenance, street lights, trash; Community amenities include clubhouse, pool, bocce court, shuffleboard court, RV/boat storage, hobby room, storage; Community has 341 units; Senior community; Street lights

Exterior

• Parking: Covered parking; Attached carport (1 space); Driveway; Paved; Golf cart garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available; High speed internet available
• Home design: Manufactured home; Single-story; Entry level: 1; Faces west; Exposure: East
• Construction: Metal and shingle roof; Vinyl siding; On-site management; Resale condition
• Exterior features: Patio; Lanai (open); Screened porch; Porch

Interior

• Kitchen: Dishwasher; Range; Microwave; Refrigerator; Freezer; Disposal; Water purifier; Reverse osmosis system; Breakfast bar / eat-in kitchen; Pantry
• Bedrooms: Bedroom on main level; Main level primary
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fans; Window unit(s)
• Interior features: Breakfast bar; Built-in features; Eat-in kitchen; Pantry; Separate shower; Shower only; Cable TV; High speed internet; Window treatments; Shutters; Single-hung windows; Furnished
• Laundry & utility: Washer; Dryer; Laundry tub; Inside laundry

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $185k.

Deal economics

• At list price, monthly cash flow is $-24 ($-288/yr) — negative.
• To cash-flow at today's rent, offer at most $181k (2.3% below list).
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $179k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 2.1% in Iona — 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 72/100 on livability (#359 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, health & safety A; Watch: 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: Heights Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 1,109 students, 38% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL).
• Market conditions: Rents soft (-1.2%/yr); 1251 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 33% of the median local income ($75k/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 $1k of loan paydown is wiped out by about $6k 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 41 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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 $140k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,353 (3.0% 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. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. 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: 1.13% ✓
• Cap rate: 8.91%
• Cash-on-cash: 9.33%
• DSCR: 1.42
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $247,200
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Derwent Blvd	0.09mi	2/2.0	1,176 (-5%)	5mo	$110,000	$94	84
318 Rosa Lee Ave	0.24mi	2/2.0	1,080 (-13%)	7mo	$239,500	$222	62
16235 Charleston Ave	0.72mi	2/2.0	1,357 (+10%)	4mo	$271,000	$200	47
10503 Winchester Ct	0.68mi	2/2.0	1,069 (-14%)	1mo	$169,500	$159	45

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: -21.6%
• Equity multiple: 0.28×
• Total profit: $-37,344
• Equity at exit: $27,569

10-year hold

• IRR: -29.4%
• Equity multiple: -0.10×
• Total profit: $-57,050
• Equity at exit: $15,987

Cash invested: $51,772 (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 33908

• Home prices YoY: -32.8%
• Rents YoY: -1.2%
• Active inventory: 1251
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,091 high
• Mortgage (P&I): −$970
• Tax from tax record: −$103 /mo · $1,235/yr
• Insurance: −$77
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$100
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $-24

Break-even live

Break-even rent $2,122

Max offer price $180,657

Occupancy floor 96%

Sensitivity live

Price	-10% $81	-5% $28	+0% $-24	+5% $-76	+10% $-129
Rent	-10% $-189	-5% $-107	+0% $-24	+5% $59	+10% $141
Rate	-1.0pp $69	-0.5pp $23	base $-24	+0.5pp $-72	+1.0pp $-121

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11298 Summerwinds Ct Fort Myers, FL	2.0	1.0	861	$1,599	$1.86	23d	1	0.06mi
11262 Summerwinds Ct Fort Myers, FL	2.0	1.0	1049	$1,699	$1.62	23d	1	0.07mi
11389 Summerwinds Ct Fort Myers, FL	2.0	1.0	927	$1,599	$1.72	23d	1	0.08mi
11460 Summerwinds Ct Fort Myers, FL	2.0	1.0	912	$1,699	$1.86	23d	1	0.11mi
11041 Gulf Reflections Dr #305 Fort Myers, FL	2.0	2.0	1500	$1,800	$1.20	25d	1	0.20mi
11021 Gulf Reflections Dr #303 Fort Myers, FL	2.0	2.0	1500	$4,200	$2.80	5d	1	0.26mi
11021 Gulf Reflections Dr Fort Myers, FL	2.0–3.0	2.0	1674	$2,600	$1.55	25d	2	0.26mi
16580 Ginger Ln #3242 Fort Myers, FL	2.0	2.0	982	$1,800	$1.83	25d	1	0.36mi
11430 Kimble Dr Unit 11432 front Fort Myers, FL	2.0	1.0	700	$1,300	$1.86	5d	1	0.42mi
11430 Kimble Dr Unit 11430 front Fort Myers, FL	2.0	1.0	700	$1,295	$1.85	5d	1	0.42mi
16841 Juanita Ave Unit B Fort Myers, FL	2.0	1.0	840	$1,845	$2.20	25d	1	0.43mi
11540 Caravel Cir #3012 Fort Myers, FL	2.0	2.0	1050	$1,250	$1.19	23d	1	0.43mi
16685 Lake Circle Dr Fort Myers, FL	2.0	2.0	1228	$2,000	$1.63	25d	2	0.44mi
16890 Carmen Ave Unit 16902 Fort Myers, FL	2.0	1.0	800	$1,295	$1.62	5d	1	0.47mi
16901 Juanita Ave Fort Myers, FL	2.0	1.0	780	$1,500	$1.92	25d	1	0.48mi
11470 Char Ann Dr Fort Myers, FL	2.0	1.0	834	$1,200	$1.44	5d	1	0.49mi
16910 Carmen Ave #16922 Fort Myers, FL	2.0	1.0	780	$1,400	$1.79	25d	1	0.49mi
16920 Carmen Ave Fort Myers, FL	2.0	1.0	800	$1,300	$1.62	25d	1	0.50mi
11451 Char Ann Dr Fort Myers, FL	2.0	1.0	1300	$1,950	$1.50	3d	1	0.51mi
11093 Kelly Rd Fort Myers, FL	2.0	1.0	830	$2,000	$2.41	23d	1	0.52mi
11861 Caraway Ln #116 Fort Myers, FL	2.0	2.0	1056	$1,995	$1.89	21d	1	0.54mi
16645 Lake Circle Dr #732 Fort Myers, FL	2.0	2.0	1154	$4,000	$3.47	25d	1	0.55mi
11220 Caravel Cir #306 Fort Myers, FL	1.0	1.5	836	$2,500	$2.99	25d	1	0.57mi
15773 Beachcomber Ave Unit 1264830P Fort Myers, FL	3.0	2.0	1496	$3,133	$2.09	15d	1	0.57mi
16635 Lake Circle Dr Fort Myers, FL	2.0	2.0	1277	$2,150	$1.68	17d	2	0.59mi
16625 Lake Circle Dr #523 Fort Myers, FL	2.0	2.0	1154	$2,100	$1.82	25d	1	0.61mi
16001 Amberwood Lake Ct #1 Fort Myers, FL	2.0	2.5	1060	$2,100	$1.98	25d	1	0.61mi
11140 Caravel Cir #109 Fort Myers, FL	2.0	2.0	1050	$4,200	$4.00	25d	1	0.62mi
16361 Dublin Cir #203 Fort Myers, FL	2.0	2.0	892	$1,700	$1.91	3d	1	0.63mi
11110 Caravel Cir #201 Fort Myers, FL	2.0	2.0	1050	$3,500	$3.33	25d	1	0.65mi
17220 Whitewater Ct Fort Myers Beach, FL	2.0	1.5	1103	$1,800	$1.63	25d	1	0.65mi
11601 Navarro Way #2102 Fort Myers, FL	2.0	2.0	1378	$4,500	$3.27	25d	1	0.70mi
16470 Kelly Cove Dr Fort Myers, FL	2.0	2.0	1214	$3,550	$2.92	5d	2	0.76mi
16470 Kelly Cove Dr #2850 Fort Myers, FL	2.0	2.0	1216	$5,000	$4.11	25d	1	0.76mi
11701 Olivetti Ln Unit 1545836P Fort Myers, FL	3.0	2.0	1388	$4,214	$3.04	15d	1	0.77mi
11701 Olivetti Ln Unit 210 Fort Myers, FL	2.0	2.0	1305	$4,500	$3.45	25d	1	0.77mi
16500 Kelly Cove Dr #2880 Fort Myers, FL	2.0	2.0	1283	$4,800	$3.74	25d	1	0.78mi
15645 Ocean Walk Cir Fort Myers, FL	3.0	2.0	1287	$3,699	$2.87	4d	2	0.80mi
15645 Ocean Walk Cir Fort Myers, FL	3.0	2.0	1227	$2,774	$2.26	5d	3	0.80mi
11711 Pasetto Ln #102 Fort Myers, FL	2.0	2.0	1055	$2,200	$2.09	25d	1	0.81mi

HOA detail

• Monthly dues: $100 · $1,200/yr
• Likely covers: trashinternetcable

Listing history 33 events

1. 2026-06-22
   days on market $184,900 Active 41 DOM
2. 2026-06-17
   days on market $184,900 Active 37 DOM
3. 2026-06-16
   days on market $184,900 Active 36 DOM
4. 2026-06-15
   days on market $184,900 Active 35 DOM
5. 2026-06-13
   days on market $184,900 Active 33 DOM
6. 2026-06-10
   days on market $184,900 Active 30 DOM
7. 2026-06-09
   days on market $184,900 Active 29 DOM
8. 2026-06-08
   days on market $184,900 Active 28 DOM
9. 2026-06-07
   days on market $184,900 Active 27 DOM
10. 2026-06-03
    days on market $184,900 Active 23 DOM
11. 2026-06-02
    days on market $184,900 Active 22 DOM
12. 2026-06-01
    days on market $184,900 Active 21 DOM
13. 2026-05-31
    days on market $184,900 Active 20 DOM
14. 2026-05-11
    listed $184,900 Active
15. 2026-03-31
    historical
16. 2026-03-26
    price $194,900
17. 2026-03-22
    price $204,900
18. 2026-02-18
    price $214,900
19. 2026-02-10
    price $204,900
20. 2026-01-13
    status Active
21. 2026-01-12
    historical
22. 2025-11-27
    price $224,900
23. 2025-10-23
    price $234,900
24. 2025-10-01
    price $239,900
25. 2025-09-05
    listed $247,200 Active
26. 2025-07-31
    historical
27. 2025-05-01
    listed $247,200 Active
28. 2018-02-26
    soldstatus $140,000
29. 2018-02-23
    soldstatus $140,000 Sold
30. 2018-01-23
    status Pending
31. 2018-01-18
    listed $140,000 Active
32. 2008-12-15
    soldstatus $100,000
33. 1994-11-17
    soldstatus $78,500

ⓘ 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: $1,235 · $103/mo
• Projected year-2 tax: $1,535 · $128/mo
• Expected delta: +$300/yr (+$25/mo · 24.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $25,095
• − Mortgage interest: −$10,357
• − Property taxes: −$1,235
• − Insurance: −$6,043
• − Repairs & maintenance: −$2,008
• − Management: −$2,008
• − HOA: −$1,200
• − Depreciation: −$5,379
• Taxable loss: −$3,134
• Est. tax savings @ 24.0%: +$752
• After-tax cash flow: $464/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 — Iona

• Score: 72/100
• State rank: #359
• US rank: #6253

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iona, FL
• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 37,423
• Household income: $75,396
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 1944.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -102.22%
• Current HPI: 209.7595
• Rent YoY: ▼ -1.18%
• 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

+135.5% since first listed

20 events — show timeline

• 2026-05-11 Listed $184,900 FORTMLS
• 2026-03-31 Listing Removed — FORTMLS
• 2026-03-26 Price Changed $194,900 FORTMLS
• 2026-03-22 Price Changed $204,900 FORTMLS
• 2026-02-18 Price Changed $214,900 FORTMLS
• 2026-02-10 Price Changed $204,900 FORTMLS
• 2026-01-13 Relisted — FORTMLS
• 2026-01-12 Listing Removed — FORTMLS
• 2025-11-27 Price Changed $224,900 FORTMLS
• 2025-10-23 Price Changed $234,900 FORTMLS
• 2025-10-01 Price Changed $239,900 FORTMLS
• 2025-09-05 Listed $247,200 FORTMLS
• 2025-07-31 Listing Removed — FORTMLS
• 2025-05-01 Listed $247,200 FORTMLS
• 2018-02-26 Sold (Public Records) $140,000 Public Records
• 2018-02-23 Sold (MLS) $140,000 FORTMLS
• 2018-01-23 Pending — FORTMLS
• 2018-01-18 Listed $140,000 FORTMLS
• 2008-12-15 Sold (Public Records) $100,000 Public Records
• 1994-11-17 Sold (Public Records) $78,500 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,235 · -7.0% YoY. Source: county tax records.