4677 Kahlua Ln · Bonita Springs, FL 34134

$399,900

2 bd · 2.0 ba · 1,112 sqft · Manufactured public records · 138 Days on market

Built 1978 4,791 sqft lot Est $365k · 10% over $97/mo HOA · 2% of rent

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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 +25.4/30.0
• DSCR +8.4/10.0
• 1% rule +6.4/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• ARV discount +3.2/15.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Gulf access, Southern exposure, corner lot, in a great location in Bonita Springs! Minutes to the gulf by boat! Spring Creek Village is a 55+ gulf access community with many great amenities including a community pool, spa, bocce ball, shuffle board, tennis, and more! Located 5 minutes from the Coconut Point Mall and all the fine dining and shopping it has to offer. Unfortunately, Ian heavily damaged the structure after its owners worked the past two years making it their prefect home. The siding was new in 2020, some windows are newer impact resistant glass done around the same time. The home has been mostly gutted and is ready for someone to come in and rebuild or remove the structure to make way for a new home. The carport does not convey and will be removed in the coming days. Spring Creek Village will allow for the building of single family homes but they must meet the building and elevation requirements of both the county and the Spring Creek HOA. This is a great opportunity to own a gulf access, canal front property in SW FL for under a half million dollars.

Key facts

• Oversized corner lot
• Direct gulf access
• Gulf access

Tags

• GULF ACCESS
• OVERSIZED CORNER LOT
• WELL MAINTAINED SEAWALL
• CUSTOM OPEN AIR SCREENED PATIO
• COVERED LANAI
• DIRECT GULF ACCESS

Property features AI

Finance

• HOA & community: Mandatory HOA; Quarterly HOA fee ($290); Master association fees total $1,160 annually; Professional management; HOA maintenance covers cable, internet/WiFi, trash removal, and water; Community amenities: clubhouse, community pool, tennis court, bocce court, BBQ/picnic area, boat storage, community boat ramp, community gulf boat access; Community type: boating and mobile/manufactured

Exterior

• Parking: Covered parking; Attached 1-car carport; Paved driveway
• Utilities: Central water; Central sewer; Electric service (central)
• Home design: Manufactured residential home; Single-story; Rear exposure faces west; Located in Spring Creek Village
• Construction: Built in 1978; Vinyl siding exterior; Rolled roof; Manufactured building design
• Exterior features: Deck; Canal and gulf views; Boat ramp access (community)

Interior

• Kitchen: Kitchen island; Electric cooktop; Refrigerator/Freezer
• Bedrooms: 2 bedrooms; Primary bedroom on ground level
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms; Primary bath with dual sinks
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Fireplace; Great room floor plan; Dining area open to living area
• Laundry & utility: Smoke detector

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $400k.

Deal economics

• At list price, monthly cash flow is $499 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $400k).
• Recommended offer: $352k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 1.7% in Bonita Springs — 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 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools C-, cost of living C-, 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.
• Market conditions: Rents rising (+2.9%/yr); 699 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 42% of the median local income ($131k/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 $3k of loan paydown is wiped out by about $12k 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 138 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $230k; list at $400k implies a 74% 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 6→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $351,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 1.14% ✓
• Cap rate: 9.07%
• Cash-on-cash: 9.92%
• DSCR: 1.44
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $364,736
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4680 Lahaina	0.03mi	2/2.0	960 (-14%)	5mo	$315,000	$328	72

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 · 2.85% rent growth · sell at horizon

5-year hold

• IRR: -8.1%
• Equity multiple: 0.70×
• Total profit: $-33,406
• Equity at exit: $59,626

10-year hold

• IRR: 1.3%
• Equity multiple: 1.09×
• Total profit: $10,177
• Equity at exit: $34,576

Cash invested: $111,972 (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 34134

• Rents YoY: 2.9%
• Active inventory: 699
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $4,557 high
• Mortgage (P&I): −$2,097
• Tax from tax record: −$313 /mo · $3,758/yr
• Insurance: −$167
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$97
• Vacancy / Maint / Mgmt: −$957
• Net cashflow: $499

Break-even live

Break-even rent $3,925

Max offer price $399,900

Occupancy floor 84%

Sensitivity live

Price	-10% $726	-5% $613	+0% $499	+5% $386	+10% $273
Rent	-10% $139	-5% $319	+0% $499	+5% $679	+10% $859
Rate	-1.0pp $701	-0.5pp $601	base $499	+0.5pp $396	+1.0pp $290

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4700 Leilani Ln Bonita Springs, FL	2.0	2.0	1380	$5,000	$3.62	24d	1	0.09mi
4709 Kon Tiki Ln Bonita Springs, FL	2.0	2.0	1475	$1,500	$1.02	24d	1	0.18mi
4161 Sawgrass Point Dr #101 Bonita Springs, FL	2.0	2.0	1445	$5,500	$3.81	24d	1	0.33mi
4161 Sawgrass Point Dr #101 Bonita Springs, FL	2.0	2.0	1445	$5,500	$3.81	22d	1	0.33mi
4201 Sawgrass Point Dr #102 Bonita Springs, FL	2.0	2.0	1319	$5,000	$3.79	24d	1	0.38mi
4200 Sawgrass Point Dr #101 Bonita Springs, FL	2.0	2.0	1445	$5,250	$3.63	24d	1	0.41mi
25130 Sandpiper Greens Ct #104 Bonita Springs, FL	2.0	2.0	1392	$6,500	$4.67	24d	1	0.74mi
24821 Lakemont Cove Ln #101 Bonita Springs, FL	2.0	2.0	1203	$6,500	$5.40	24d	1	0.94mi
25248 Pelican Creek Cir #102 Bonita Springs, FL	3.0	2.0	1458	$7,000	$4.80	24d	1	1.28mi
23660 Walden Center Dr Estero, FL	1.0	1.0	649	$1,522	$2.34	15d	1	1.32mi
23680 Walden Center Dr #107 Estero, FL	2.0	2.0	1052	$1,900	$1.81	4d	1	1.32mi
23640 Walden Center Dr #106 Estero, FL	2.0	2.0	1052	$1,850	$1.76	3d	1	1.35mi
23710 Walden Center Dr #308 Estero, FL	3.0	2.0	1355	$3,000	$2.21	24d	1	1.35mi
23580 Walden Center Dr #209 Estero, FL	1.0	1.0	742	$1,550	$2.09	20d	1	1.37mi
23500 Walden Center Dr Estero, FL	1.0–2.0	1.0–2.0	803	$2,800	$3.48	17d	3	1.40mi
23520 Walden Center Dr #308 Estero, FL	2.0	2.0	1239	$2,000	$1.61	4d	1	1.40mi
23520 Walden Center Dr #308 Estero, FL	2.0	2.0	1239	$2,000	$1.61	24d	1	1.40mi

HOA detail

• Monthly dues: $97 · $1,164/yr
• Likely covers: pool

Listing history 24 events

1. 2026-06-17
   days on market $399,900 Active 138 DOM
2. 2026-06-16
   days on market $399,900 Active 137 DOM
3. 2026-06-15
   days on market $399,900 Active 136 DOM
4. 2026-06-13
   days on market $399,900 Active 134 DOM
5. 2026-06-10
   days on market $399,900 Active 131 DOM
6. 2026-06-09
   days on market $399,900 Active 130 DOM
7. 2026-06-07
   days on market $399,900 Active 128 DOM
8. 2026-06-02
   days on market $399,900 Active 123 DOM
9. 2026-06-01
   days on market $399,900 Active 122 DOM
10. 2026-06-01
    days on market $399,900 Active 121 DOM
11. 2026-01-30
    listed $399,900 Active
12. 2024-02-17
    price $499,900
13. 2023-09-20
    listed $549,900 Active
14. 2022-12-09
    soldstatus $230,000 Sold 1080-char remark

    Show marketing remark (1080 chars)

    Gulf access, Southern exposure, corner lot, in a great location in Bonita Springs! Minutes to the gulf by boat! Spring Creek Village is a 55+ gulf access community with many great amenities including a community pool, spa, bocce ball, shuffle board, tennis, and more! Located 5 minutes from the Coconut Point Mall and all the fine dining and shopping it has to offer. Unfortunately, Ian heavily damaged the structure after its owners worked the past two years making it their prefect home. The siding was new in 2020, some windows are newer impact resistant glass done around the same time. The home has been mostly gutted and is ready for someone to come in and rebuild or remove the structure to make way for a new home. The carport does not convey and will be removed in the coming days. Spring Creek Village will allow for the building of single family homes but they must meet the building and elevation requirements of both the county and the Spring Creek HOA. This is a great opportunity to own a gulf access, canal front property in SW FL for under a half million dollars.

15. 2022-12-09
    soldstatus $230,000

    Show marketing remark (1080 chars)

    Gulf access, Southern exposure, corner lot, in a great location in Bonita Springs! Minutes to the gulf by boat! Spring Creek Village is a 55+ gulf access community with many great amenities including a community pool, spa, bocce ball, shuffle board, tennis, and more! Located 5 minutes from the Coconut Point Mall and all the fine dining and shopping it has to offer. Unfortunately, Ian heavily damaged the structure after its owners worked the past two years making it their prefect home. The siding was new in 2020, some windows are newer impact resistant glass done around the same time. The home has been mostly gutted and is ready for someone to come in and rebuild or remove the structure to make way for a new home. The carport does not convey and will be removed in the coming days. Spring Creek Village will allow for the building of single family homes but they must meet the building and elevation requirements of both the county and the Spring Creek HOA. This is a great opportunity to own a gulf access, canal front property in SW FL for under a half million dollars.

16. 2022-11-21
    status Pending With Contingencies 1080-char remark

    Show marketing remark (1080 chars)

    Gulf access, Southern exposure, corner lot, in a great location in Bonita Springs! Minutes to the gulf by boat! Spring Creek Village is a 55+ gulf access community with many great amenities including a community pool, spa, bocce ball, shuffle board, tennis, and more! Located 5 minutes from the Coconut Point Mall and all the fine dining and shopping it has to offer. Unfortunately, Ian heavily damaged the structure after its owners worked the past two years making it their prefect home. The siding was new in 2020, some windows are newer impact resistant glass done around the same time. The home has been mostly gutted and is ready for someone to come in and rebuild or remove the structure to make way for a new home. The carport does not convey and will be removed in the coming days. Spring Creek Village will allow for the building of single family homes but they must meet the building and elevation requirements of both the county and the Spring Creek HOA. This is a great opportunity to own a gulf access, canal front property in SW FL for under a half million dollars.

17. 2022-11-09
    price $299,900 1080-char remark

    Show marketing remark (1080 chars)

    Gulf access, Southern exposure, corner lot, in a great location in Bonita Springs! Minutes to the gulf by boat! Spring Creek Village is a 55+ gulf access community with many great amenities including a community pool, spa, bocce ball, shuffle board, tennis, and more! Located 5 minutes from the Coconut Point Mall and all the fine dining and shopping it has to offer. Unfortunately, Ian heavily damaged the structure after its owners worked the past two years making it their prefect home. The siding was new in 2020, some windows are newer impact resistant glass done around the same time. The home has been mostly gutted and is ready for someone to come in and rebuild or remove the structure to make way for a new home. The carport does not convey and will be removed in the coming days. Spring Creek Village will allow for the building of single family homes but they must meet the building and elevation requirements of both the county and the Spring Creek HOA. This is a great opportunity to own a gulf access, canal front property in SW FL for under a half million dollars.

18. 2022-11-04
    listed $329,900 Active 1080-char remark

    Show marketing remark (1080 chars)

    Gulf access, Southern exposure, corner lot, in a great location in Bonita Springs! Minutes to the gulf by boat! Spring Creek Village is a 55+ gulf access community with many great amenities including a community pool, spa, bocce ball, shuffle board, tennis, and more! Located 5 minutes from the Coconut Point Mall and all the fine dining and shopping it has to offer. Unfortunately, Ian heavily damaged the structure after its owners worked the past two years making it their prefect home. The siding was new in 2020, some windows are newer impact resistant glass done around the same time. The home has been mostly gutted and is ready for someone to come in and rebuild or remove the structure to make way for a new home. The carport does not convey and will be removed in the coming days. Spring Creek Village will allow for the building of single family homes but they must meet the building and elevation requirements of both the county and the Spring Creek HOA. This is a great opportunity to own a gulf access, canal front property in SW FL for under a half million dollars.

19. 2019-11-25
    soldstatus $185,000
20. 2019-09-09
    price $195,000
21. 2019-07-10
    price $205,000
22. 2019-06-10
    price $210,000
23. 2015-02-27
    soldstatus $167,000
24. 1976-04-01
    soldstatus $10,000

ⓘ 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: $3,758 · $313/mo
• Projected year-2 tax: $3,758 · $313/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,681
• − Mortgage interest: −$22,401
• − Property taxes: −$3,758
• − Insurance: −$7,118
• − Repairs & maintenance: −$4,374
• − Management: −$4,374
• − HOA: −$1,164
• − Depreciation: −$11,633
• Taxable loss: −$142
• Est. tax savings @ 24.0%: +$34
• After-tax cash flow: $6,027/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonita Springs, FL
• County: Lee County · 788,662 people
• City population: 64,727
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 16,475
• Household income: $130,719
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 554.0

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 (91%)
• Race & ethnicity: White 91% Hispanic / Latino 5% Two or more races 3% Asian 1%
• Common ancestry: Slovak 5% Romanian 4% Serbian 2%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 4% German/W. Germanic 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: ▼ -236.48%
• Current HPI: 237.4416
• Rent YoY: ▲ 2.85%
• 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

+3899.0% since first listed

14 events — show timeline

• 2026-01-30 Listed $399,900 NAPLESMLS
• 2024-02-17 Price Changed $499,900 BEARMLS
• 2023-09-20 Listed $549,900 BEARMLS
• 2022-12-09 Sold (Public Records) $230,000 Public Records
• 2022-12-09 Sold (MLS) $230,000 NAPLESMLS
• 2022-11-21 Pending — NAPLESMLS
• 2022-11-09 Price Changed $299,900 NAPLESMLS
• 2022-11-04 Listed $329,900 NAPLESMLS
• 2019-11-25 Sold (Public Records) $185,000 Public Records
• 2019-09-09 Price Changed $195,000 BEARMLS
• 2019-07-10 Price Changed $205,000 BEARMLS
• 2019-06-10 Price Changed $210,000 BEARMLS
• 2015-02-27 Sold (Public Records) $167,000 Public Records
• 1976-04-01 Sold (Public Records) $10,000 Public Records

Property tax history

+10.5%/yr

Latest (2025): $3,758 · +7.9% YoY. Source: county tax records.