Riviers III Plan · North Fort Myers, FL 33903

$99,900

3 bd · 2.0 ba · 1,372 sqft · Manufactured · 834 Days on market

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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
• DSCR +10.0/10.0
• 1% rule +8.6/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Key facts

• Listed 833 days

Property features AI

Finance

• Financial info: Listed price $99,900

Exterior

• Home design: Plan home (Riviers III); Single-level (plan format)
• Exterior features: Located on N Tamiami Trail in North Fort Myers

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home (Riviers III)

🏗️ New construction. The $99,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $139,944.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k.

Deal economics

• At list price, monthly cash flow is $537 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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.
• Market conditions: Rents soft (-1.9%/yr); 472 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 40% of the median local income ($57k/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 $968 of loan paydown is wiped out by about $4k 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 834 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 834 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.36% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.46%
• DSCR: 1.73
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $139,944
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16042 Citron Way	0.57mi	2/2.0 (-1)	1,288 (-6%)	4mo	$132,000	$102	54
1091 Laurel Dr	0.74mi	2/2.0 (-1)	1,194 (-13%)	14mo	$79,000	$66	27

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: 4.1%
• Equity multiple: 1.15×
• Total profit: $5,998
• Equity at exit: $20,866

10-year hold

• IRR: 10.6%
• Equity multiple: 1.71×
• Total profit: $27,843
• Equity at exit: $12,100

Cash invested: $39,184 (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 33903

• Rents YoY: -1.9%
• Active inventory: 472
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,904 high
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,099/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $537

Break-even live

Break-even rent $1,224

Max offer price $139,944

Occupancy floor 67%

Sensitivity live

Price	-10% $634	-5% $586	+0% $537	+5% $489	+10% $441
Rent	-10% $387	-5% $462	+0% $537	+5% $613	+10% $688
Rate	-1.0pp $608	-0.5pp $573	base $537	+0.5pp $501	+1.0pp $464

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: $34,986
• Closing costs: $4,198
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
266 Mongoose Ln #266 North Fort Myers, FL	3.0	2.0	1372	$1,499	$1.09	4d	1	0.32mi
3153 Cozumel Ct Cape Coral, FL	3.0	2.0	1747	$2,000	$1.14	15d	1	0.48mi
2864 Star Coral Dr Unit Na North Fort Myers, FL	3.0	2.0	1614	$1,999	$1.24	24d	1	0.50mi
3187 Cozumel Ct Cape Coral, FL	3.0	2.0	1747	$2,000	$1.14	4d	1	0.55mi
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	4d	1	0.56mi
574 Leopard Ln #574 North Fort Myers, FL	4.0	2.0	1459	$1,599	$1.10	14d	1	0.58mi
3358 Sabal Springs Blvd North Fort Myers, FL	3.0	2.0	1621	$2,200	$1.36	24d	1	0.58mi
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	24d	1	0.59mi
2497 Ciales Ct Cape Coral, FL	3.0	2.0	1747	$1,850	$1.06	17d	1	0.60mi
535 Zebra Dr #535 North Fort Myers, FL	3.0	2.0	1352	$1,499	$1.11	15d	1	0.69mi
2729 Foralesca Ct Cape Coral, FL	4.0	2.0	1828	$2,300	$1.26	24d	1	0.71mi
2729 Foralesca Ct Cape Coral, FL	4.0	2.0	1828	$2,300	$1.26	4d	1	0.71mi
17244 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,200	$1.21	15d	1	0.74mi
17225 Cantu Ct North Fort Myers, FL	4.0	2.0	1824	$2,200	$1.21	24d	1	0.79mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	24d	1	0.79mi
3957 Pomodoro Cir #301 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	17d	1	0.82mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	24d	1	0.84mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	17d	1	0.84mi
3953 Pomodoro Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1044	$1,624	$1.56	15d	9	0.84mi
3420 Cancun Ct Cape Coral, FL	3.0	2.0	1747	$1,895	$1.08	15d	1	0.85mi
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	15d	1	0.87mi
3440 Cancun Ct Cape Coral, FL	3.0	2.0	1747	$1,950	$1.12	24d	1	0.88mi
4106 San Felice Ln North Fort Myers, FL	4.0	2.5	1874	$2,400	$1.28	24d	1	0.89mi
4106 Lattuca Ln North Fort Myers, FL	4.0	2.5	1874	$2,200	$1.17	24d	1	0.91mi
3944 Pomodoro Cir #202 Cape Coral, FL	3.0	2.0	1411	$2,200	$1.56	24d	1	0.92mi
3968 Pomodoro Cir #202 Cape Coral, FL	2.0	2.0	1469	$1,475	$1.00	15d	1	0.93mi
2904 Tuscan Dr #303 Cape Coral, FL	2.0	2.0	1460	$1,450	$0.99	24d	1	0.93mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1534	$1,575	$1.03	4d	3	0.94mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1469	$1,498	$1.02	24d	2	0.94mi
4106 Granita Ct North Fort Myers, FL	4.0	2.5	1812	$2,300	$1.27	24d	1	0.94mi
3940 Pomodoro Cir Cape Coral, FL	2.0	2.0	1270	$1,475	$1.16	4d	2	0.95mi
2913 Tuscan Dr #102 Cape Coral, FL	2.0	2.0	1469	$1,450	$0.99	24d	1	0.96mi
2909 Tuscan Dr Cape Coral, FL	2.0	2.0	1469	$1,475	$1.00	24d	2	0.96mi
3940 Villa Del Mar CIR Cape Coral, FL	1.0–3.0	1.0–2.0	1051	$2,739	$2.60	2d	21	0.96mi
17669 Paradiso Way North Fort Myers, FL	3.0	2.0	1551	$1,999	$1.29	24d	1	1.02mi
17669 Paradiso Way North Fort Myers, FL	3.0	2.0	1551	$1,999	$1.29	4d	1	1.02mi
17920 Antherium Ln North Fort Myers, FL	2.0	2.0	1693	$2,400	$1.42	24d	1	1.07mi
17499 Monte Isola Way Unit 17499 North Fort Myers, FL	3.0	2.5	1405	$1,800	$1.28	15d	1	1.16mi
17489 Monte Isola Way North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	15d	1	1.17mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	24d	1	1.19mi

Listing history 8 events

1. 2026-06-17
   days on market $99,900 Active 834 DOM
2. 2026-06-16
   days on market $99,900 Active 833 DOM
3. 2026-06-16
   days on market $99,900 Active 832 DOM
4. 2026-06-13
   days on market $99,900 Active 830 DOM
5. 2026-06-09
   days on market $99,900 Active 826 DOM
6. 2026-06-07
   days on market $99,900 Active 824 DOM
7. 2026-06-01
   days on market $99,900 Active 818 DOM
8. 2026-06-01
   days on market $99,900 Active 817 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,853
• − Mortgage interest: −$7,839
• − Property taxes: −$2,099
• − Insurance: −$700
• − Repairs & maintenance: −$1,828
• − Management: −$1,828
• − Depreciation: −$4,071
• Taxable income: $4,488
• Est. tax owed @ 24.0%: −$1,077
• After-tax cash flow: $5,372/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): 23,655
• Household income: $56,993
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 468.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 14% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 3%
• Common ancestry: Lithuanian 4% Romanian 4% Italian 3%
• Foreign-born: 11% · Canada
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -172.26%
• Current HPI: 256.773
• Rent YoY: ▼ -1.94%
• 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