2623 Purslane Dr · Olga, FL 33905

$110,000

2 bd · 1.0 ba · 925 sqft · SingleFamily public records · 32 Days on market

Built 1981 1,481 sqft lot Est $164k · 33% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +4.1/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Unlock a rare investment opportunity with this unique 4-unit property package in Fort Myers, where each unit is individually parceled with its own Tax ID and deed offering unmatched flexibility and long-term upside. All four units are being sold together, creating a powerful opportunity for investors looking to expand their portfolio with a single strategic acquisition. Ideally located directly across the street from Riverdale High School and just minutes from Palm Beach Blvd, this property offers convenient walk or drive access to grocery shopping, dining, and everyday essentials an attractive feature for both future buyers and tenants alike. This is a true fix & flip or fix &

Key facts

• Own tax id
• Parking
• Built 1981

Tags

• 4 UNIT PROPERTY PACKAGE
• INDIVIDUALLY PARCELED
• OWN TAX ID
• CONVENIENT WALK ACCESS
• DINING AND EVERYDAY ESSENTIALS
• FIX AND FLIP OPPORTUNITY

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Community of 18 units; Non-gated community; No association fee

Exterior

• Parking: Driveway; Paved parking
• Utilities: Cable available; Public water; Public sewer
• Home design: Single-story; Resale property; Entry level: 1; Faces west
• Construction: Wood frame construction; Shingle roof
• Exterior features: Storage; Rectangular lot; Lot dimensions approximately 37 x 40 x 37 x 40; East exposure

Interior

• Bathrooms: 1 full bathroom
• Interior features: Unfurnished; Family/Dining room; Living/Dining room; Tub with shower; Other

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $479 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% vs local median 3.5% in Olga — 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 63/100 on livability (#707 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment B; Watch: amenities F, commute F, health & safety D-.
• 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: Veterans Park Academy For The Arts (math 41% / reading 45%, grade F, #1,366 of 2,144 statewide, top 64%, 2,133 students, 36% FRL); Oak Hammock Middle School (math 43% / reading 41%, grade D-, #340 of 571 statewide, top 61%, 1,563 students, 56% FRL); Lehigh Senior High School (math 23% / reading 45%, grade F, #394 of 667 statewide, top 60%, 2,476 students, 57% FRL).
• Market conditions: Rents soft (-3.0%/yr); 768 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $761 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $31k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $110k implies a 267% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $106,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.43% ✓
• Cap rate: 11.52%
• Cash-on-cash: 18.68%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $163,725
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15588 Riverwood Ln	0.04mi	3/1.0 (+1)	924 (-0%)	23mo	$163,000	$176	74
2514 Barcelona Ave	0.59mi	3/1.0 (+1)	993 (+7%)	15mo	$175,000	$176	43
2374 Andros Ave	0.70mi	3/1.0 (+1)	986 (+7%)	12mo	$175,000	$177	41
14026 Caribbean Blvd	0.75mi	3/2.0 (+1)	962 (+4%)	15mo	$219,900	$229	37

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: 7.0%
• Equity multiple: 1.26×
• Total profit: $8,109
• Equity at exit: $16,401

10-year hold

• IRR: 13.5%
• Equity multiple: 1.93×
• Total profit: $28,618
• Equity at exit: $9,511

Cash invested: $30,800 (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: 768
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,578 high
• Mortgage (P&I): −$577
• Tax from tax record: −$144 /mo · $1,732/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $479

Break-even live

Break-even rent $971

Max offer price $110,000

Occupancy floor 65%

Sensitivity live

Price	-10% $542	-5% $510	+0% $479	+5% $448	+10% $417
Rent	-10% $355	-5% $417	+0% $479	+5% $542	+10% $604
Rate	-1.0pp $535	-0.5pp $507	base $479	+0.5pp $451	+1.0pp $422

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13926 1st St Fort Myers, FL	3.0	1.0	982	$1,550	$1.58	17d	1	0.72mi
13861 First St Unit 13863 Fort Myers, FL	2.0	1.0	875	$1,400	$1.60	25d	1	0.76mi
13650 Caribbean Blvd Fort Myers, FL	3.0	1.0	1040	$1,700	$1.63	23d	1	0.85mi
2244 Iris Way Fort Myers, FL	2.0	1.0	1000	$1,499	$1.50	25d	1	0.94mi
13401 1st St Fort Myers, FL	1.0	1.0	750	$975	$1.30	25d	1	1.06mi
13208 Fourth St Fort Myers, FL	3.0	1.0	1103	$1,500	$1.36	5d	1	1.41mi

Listing history 2 events

1. 2026-04-15
   listed $110,000 Active
2. 1999-06-16
   soldstatus $30,000

ⓘ 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: $1,732 · $144/mo
• Projected year-2 tax: $1,732 · $144/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 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $18,932
• − Mortgage interest: −$6,162
• − Property taxes: −$1,732
• − Insurance: −$550
• − Repairs & maintenance: −$1,515
• − Management: −$1,515
• − Depreciation: −$3,200
• Taxable income: $4,259
• Est. tax owed @ 24.0%: −$1,022
• After-tax cash flow: $4,730/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 — Olga

• Score: 63/100
• State rank: #707
• US rank: #15011

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Olga, FL
• County: Lee County · 788,662 people
• 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

+266.7% since first listed

2 events — show timeline

• 2026-04-15 Listed $110,000 FORTMLS
• 1999-06-16 Sold (Public Records) $30,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $1,732 · -6.0% YoY. Source: county tax records.