5558 Palm Beach Blvd #428 · Buckingham, FL 33905

$124,000

2 bd · 2.0 ba · 969 sqft · Condo public records · 1 Days on market

Built 1989 $174/mo HOA · 10% 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 +26.2/30.0
• DSCR +8.9/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

This property is located in a 55+ community that offers many great amenities and no monthly lot lease. This 2-bedroom, 2-full bathroom home is ready for its future owner and includes a spacious living room, eat-in kitchen, enclosed Florida room, all new windows with lots of natural light, carport with covered front porch, and interior furnishings. Updates to the home included: newer double-hung windows, dishwasher, and electric range. This property has been well maintained and is located in an elevated area that has never had issues with flooding. The community has a low monthly HOA of only $174 and includes access to a heated swimming pool, 9-hole golf course, clubhouse, shuffleboard, bocc

Key facts

• 9 hole golf course
• Clubhouse
• Bocce ball

Tags

• HEATED SWIMMING POOL
• 9 HOLE GOLF COURSE
• CLUBHOUSE
• SHUFFLEBOARD
• BOCCE BALL
• FREE BOAT STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $124k.

Deal economics

• At list price, monthly cash flow is $318 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $124k).
• Cap rate 9.4% vs local median 3.6% in Buckingham — 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 (#413 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, schools F, amenities 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 (-3.0%/yr); 763 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $857 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: 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 $124,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.34% ✓
• Cap rate: 9.37%
• Cash-on-cash: 10.99%
• DSCR: 1.49
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.87×
• Total profit: $-4,609
• Equity at exit: $18,489

10-year hold

• IRR: 1.7%
• Equity multiple: 1.11×
• Total profit: $3,651
• Equity at exit: $10,721

Cash invested: $34,720 (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: 763
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,667 high
• Mortgage (P&I): −$650
• Tax from tax record: −$123 /mo · $1,471/yr
• Insurance: −$52
• HOA: −$174
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $318

Break-even live

Break-even rent $1,264

Max offer price $124,000

Occupancy floor 76%

Sensitivity live

Price	-10% $388	-5% $353	+0% $318	+5% $283	+10% $248
Rent	-10% $186	-5% $252	+0% $318	+5% $384	+10% $450
Rate	-1.0pp $380	-0.5pp $350	base $318	+0.5pp $286	+1.0pp $253

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9970 Sailview Ct #9 Fort Myers, FL	2.0	2.0	988	$1,150	$1.16	24d	1	0.36mi
9970 Sailview Ct #9 Fort Myers, FL	2.0	2.0	988	$1,100	$1.11	4d	1	0.36mi
9950 Sailview Ct #2 Fort Myers, FL	2.0	2.0	964	$1,500	$1.56	24d	1	0.36mi
4681 Lakeside Club Blvd #11 Fort Myers, FL	2.0	2.0	964	$1,300	$1.35	24d	1	0.48mi
9570 Green Cypress Ln #13 Fort Myers, FL	2.0	2.0	985	$2,800	$2.84	24d	1	0.61mi
141 Schneider Dr Fort Myers, FL	3.0	2.0	1048	$2,500	$2.39	24d	1	0.65mi
9540 Green Cypress Ln #11 Fort Myers, FL	2.0	2.0	988	$2,500	$2.53	24d	1	0.65mi
243 Tangerine Dr Fort Myers, FL	2.0	1.5	720	$1,425	$1.98	24d	1	0.75mi
215 Delray Ave Fort Myers, FL	2.0	1.0	740	$1,450	$1.96	15d	1	1.25mi
328 Bellair Rd Fort Myers, FL	2.0	1.0	900	$1,500	$1.67	24d	1	1.40mi
4900 Tice St Unit 5 Fort Myers, FL	2.0	1.0	700	$800	$1.14	24d	1	1.50mi

HOA detail condo

• Monthly dues: $174 · $2,088/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-03-13
   status Pending
2. 2026-03-12
   listed $124,000 Active

ⓘ 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: $1,471 · $123/mo
• Projected year-2 tax: $1,471 · $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 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 · 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: $19,999
• − Mortgage interest: −$6,946
• − Property taxes: −$1,471
• − Insurance: −$620
• − Repairs & maintenance: −$1,600
• − Management: −$1,600
• − HOA: −$2,088
• − Depreciation: −$3,607
• Taxable income: $2,067
• Est. tax owed @ 24.0%: −$496
• After-tax cash flow: $3,321/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 — Buckingham

• Score: 70/100
• State rank: #413
• US rank: #7367

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• City population: 40,908
• 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

2 events — show timeline

• 2026-03-13 Pending — FORTMLS
• 2026-03-12 Listed $124,000 FORTMLS

Property tax history

+22.0%/yr

Latest (2025): $1,471 · +20.7% YoY. Source: county tax records.