5035 Spinnaker Rd · Port LaBelle, FL 33935

$349,900

3 bd · 2.5 ba · 1,571 sqft · Land · 8 Days on market

Built 2025 0.29 ac lot

---

Why this score? — see what drove the D- 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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +5.9/30.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +0.3/10.0

Listing remarks MLS

Residential homesite located in Port LaBelle Community! Escape the big city and build your new construction home on this . 24-acre lot is just minutes from schools, Florida Southwestern State College campus, shopping, and restaurants. The Port LaBelle Community is in LaBelle which is one of the fastest growing areas in SW Florida. LaBelle is situated along the Caloosahatchee River- Intracoastal waterway and is located just 22 miles east of 1-75 Fort Myers and just 1.5-hour drive to Miami/Lauderdale area. This homesite has access to central water service but will require septic to build.

Key facts

• 0.29 acre lot
• 2 garage spots
• Built 2025

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Association amenities: boat dock, marina, boat ramp, barbecue, picnic area, park, sidewalks; Association covers pest control and water; Association fee: $0

Exterior

• Parking: Attached 2-car garage; Driveway; Guest parking; Paved parking; Garage door opener
• Security: Smoke detectors
• Utilities: Cable available; Septic tank; Assessment-paid water
• Home design: Single-story; New construction; Entry level 1; Raised foundation
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Fire pit; Security/high impact doors; Outdoor grill; Outdoor kitchen; Patio; Open patio/porch; Porch; Oversized lot; South exposure; Has view; North-facing

Interior

• Kitchen: Built-In Oven; Double Oven; Dishwasher; Electric Cooktop; Freezer; Indoor Grill; Microwave; Range; Refrigerator; Wine Cooler; Kitchen island; Pantry
• Bedrooms: Den
• Flooring: Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Built-in features; Bedroom on main level; Tray ceilings; Dual sinks; Kitchen island; Living/dining room; Pantry; Walk-in closets; Display windows; Impact glass
• Laundry & utility: Washer hookup inside; Dryer hookup inside

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath land listed at $350k.

Deal economics

• At list price, monthly cash flow is $-682 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (28.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $220k (37.2% below list).
• Recommended offer: $220k (37.2% below list) — sets the bar for 1% rule.
• Cap rate 4.0% vs local median 5.1% in Port LaBelle — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 62/100 on livability (#750 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Hendry (town): math 35% / reading 40% proficiency, ranked #65 of 73 in FL (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Country Oaks Elementary School (math 48% / reading 45%, grade D-, #1,223 of 2,144 statewide, top 57%, 893 students, 75% FRL); Labelle Middle School (math 37% / reading 38%, grade F, #395 of 571 statewide, top 70%, 817 students, 72% FRL); Labelle High School (math 42% / reading 41%, grade F, #284 of 667 statewide, top 43%, 1,451 students, 62% FRL).
• Market conditions: 950 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 557 units permitted in Hendry County in 2024 (45 in 5+ unit buildings).
• At $2,198/mo this rent would consume 46% of the median local household income ($57k/yr) (locally 498% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Hendry County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 3y 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 $198k; list at $350k implies a 77% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $219,792 (37.2% 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. 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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 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: 0.63% ✗
• Cap rate: 3.95%
• Cash-on-cash: -8.35%
• DSCR: 0.63
• GRM: 13.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 18.4%
• Equity multiple: 2.50×
• Total profit: $147,179
• Equity at exit: $315,218

10-year hold

• IRR: 17.1%
• Equity multiple: 5.77×
• Total profit: $467,629
• Equity at exit: $679,779

Cash invested: $97,972 (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 33935

• Home prices YoY: 16.3%
• Active inventory: 950
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $2,198 high
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$437 /mo · $5,248/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $-682

Break-even live

Break-even rent $3,061

Max offer price $251,255

Occupancy floor —

Sensitivity live

Price	-10% $-440	-5% $-561	+0% $-682	+5% $-803	+10% $-924
Rent	-10% $-855	-5% $-769	+0% $-682	+5% $-595	+10% $-508
Rate	-1.0pp $-506	-0.5pp $-593	base $-682	+0.5pp $-772	+1.0pp $-865

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5029 S Rosebud Cir Labelle, FL	3.0	2.0	1389	$1,780	$1.28	25d	1	0.25mi
5029 W Hummingbird Dr Labelle, FL	3.0	2.0	1212	$2,450	$2.02	5d	1	0.56mi
5012 Gunn Pl Labelle, FL	3.0	2.5	1783	$2,500	$1.40	4d	1	0.63mi
801 SW Raintree Blvd Labelle, FL	3.0	2.0	1285	$1,700	$1.32	25d	1	0.74mi
7038 Lotus Cir Labelle, FL	4.0	3.0	1680	$2,200	$1.31	17d	1	0.91mi
3051 NW Beechwood Cir Labelle, FL	4.0	2.0	1499	$2,200	$1.47	25d	1	0.98mi
7016 Palpano Cir Labelle, FL	3.0	2.5	1507	$2,100	$1.39	17d	1	1.05mi
7061 Tide Cir Labelle, FL	4.0	2.0	1500	$1,695	$1.13	25d	1	1.32mi
6210 Forest Ct Labelle, FL	3.0	2.5	1503	$2,200	$1.46	25d	1	1.35mi
9013 Ike Ct Labelle, FL	3.0	2.0	1367	$2,100	$1.54	4d	1	1.45mi
9011 Penny Cir Labelle, FL	3.0	2.0	1731	$2,400	$1.39	25d	1	1.46mi
9001 Penny Cir Labelle, FL	3.0	2.0	1472	$2,300	$1.56	25d	1	1.46mi
9001 Penny Cir Labelle, FL	3.0	2.0	1472	$2,300	$1.56	17d	1	1.46mi

Listing history 21 events

1. 2026-06-22
   days on market $349,900 Active 8 DOM
2. 2026-06-18
   days on market $349,900 Active 5 DOM
3. 2026-06-17
   days on market $349,900 Active 4 DOM
4. 2026-06-16
   days on market $349,900 Active 3 DOM
5. 2026-06-15
   days on market $349,900 Active 2 DOM
6. 2026-06-13
   days on marketlisting id $349,900 Active 1 DOM
7. 2026-06-13
   days on market $349,900 Active 23 DOM
8. 2026-06-10
   days on market $349,900 Active 21 DOM
9. 2026-06-09
   days on market $349,900 Active 20 DOM
10. 2026-06-08
    days on market $349,900 Active 19 DOM
11. 2026-06-07
    days on market $349,900 Active 18 DOM
12. 2026-06-03
    days on market $349,900 Active 14 DOM
13. 2026-06-02
    days on market $349,900 Active 13 DOM
14. 2026-06-01
    days on market $349,900 Active 12 DOM
15. 2026-05-31
    days on market $349,900 Active 11 DOM
16. 2026-05-19
    listed $349,900 Active
17. 2023-08-17
    soldstatus $198,000
18. 2023-08-16
    soldstatus $21,000 Closed 593-char remark

    Show marketing remark (593 chars)

    Residential homesite located in Port LaBelle Community! Escape the big city and build your new construction home on this . 24-acre lot is just minutes from schools, Florida Southwestern State College campus, shopping, and restaurants. The Port LaBelle Community is in LaBelle which is one of the fastest growing areas in SW Florida. LaBelle is situated along the Caloosahatchee River- Intracoastal waterway and is located just 22 miles east of 1-75 Fort Myers and just 1.5-hour drive to Miami/Lauderdale area. This homesite has access to central water service but will require septic to build.

19. 2023-07-18
    status Pending 593-char remark

    Show marketing remark (593 chars)

    Residential homesite located in Port LaBelle Community! Escape the big city and build your new construction home on this . 24-acre lot is just minutes from schools, Florida Southwestern State College campus, shopping, and restaurants. The Port LaBelle Community is in LaBelle which is one of the fastest growing areas in SW Florida. LaBelle is situated along the Caloosahatchee River- Intracoastal waterway and is located just 22 miles east of 1-75 Fort Myers and just 1.5-hour drive to Miami/Lauderdale area. This homesite has access to central water service but will require septic to build.

20. 2023-07-06
    listed $19,900 Active 593-char remark

    Show marketing remark (593 chars)

    Residential homesite located in Port LaBelle Community! Escape the big city and build your new construction home on this . 24-acre lot is just minutes from schools, Florida Southwestern State College campus, shopping, and restaurants. The Port LaBelle Community is in LaBelle which is one of the fastest growing areas in SW Florida. LaBelle is situated along the Caloosahatchee River- Intracoastal waterway and is located just 22 miles east of 1-75 Fort Myers and just 1.5-hour drive to Miami/Lauderdale area. This homesite has access to central water service but will require septic to build.

21. 2005-11-04
    soldstatus $70,000

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°F today · 24 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,375
• − Mortgage interest: −$19,600
• − Property taxes: −$5,248
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,110
• − Management: −$2,110
• − Depreciation: −$10,179
• Taxable loss: −$14,622
• Est. tax savings @ 24.0%: +$3,509
• After-tax cash flow: $-4,671/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: Hendry
• NCES district ID: 1200780
• Math proficiency: 35% ▼ -11.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $37,043
• Composite: 31.16/100
• National rank: #6054
• State rank: #65 of 73 in FL

Livability — Port LaBelle

• Score: 62/100
• State rank: #750
• US rank: #16264

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port LaBelle, FL
• County: Hendry County · 23,186 people
• Metro: Clewiston, FL
• Population (ZIP): 23,186
• Household income: $57,009
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 498.0

Population outlook (Hendry County) Hauer SSP2

• Today (2025): 38,866 people
• By 2030: 38,558 · -0.8%
• By 2040: 37,743 · -2.9%
• By 2050: 36,117 · -7.1%
• By 2075: 30,070 · -22.6%
• By 2100: 21,966 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (56%)
• Race & ethnicity: Hispanic / Latino 56% White 39% Two or more races 21% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 40% Puerto Rican 3% Cuban 5%
• Common ancestry: Lithuanian 2% Serbian 2% Slovak 1%
• Foreign-born: 27% · Canada, Jamaica
• Languages at home: 50% English-only · Spanish 50%

Political lean MEDSL · Hendry

• 2024 margin: Solid R (+38.3) · D 30.4% · R 68.7%
• 2008→2024 swing: -31.1pp toward R · 2008: -7.2pp · 2024: -38.3pp
• All cycles: 2024: R+38.3 2020: R+23.0 2016: R+14.2 2012: R+5.9 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 75.20%
• Current HPI: 537.4928
• Rent YoY: —
• Metro: Clewiston, 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

+399.9% since first listed

6 events — show timeline

• 2026-05-19 Listed $349,900 FORTMLS
• 2023-08-17 Sold (Public Records) $198,000 Public Records
• 2023-08-16 Sold (MLS) $21,000 FORTMLS
• 2023-07-18 Pending — FORTMLS
• 2023-07-06 Listed $19,900 FORTMLS
• 2005-11-04 Sold (Public Records) $70,000 Public Records

Property tax history

+12.8%/yr

Latest (2025): $534 · +6.8% YoY. Source: county tax records.