12980 Rebecca St · Iona, FL 33908

$119,500

2 bd · 2.0 ba · 1,056 sqft · Manufactured public records · 30 Days on market

Built 1998 4,225 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 2-bedroom, 2-bath home in the desirable Harvey Heights neighborhood without the HOA fees! Ideally located just minutes from the beautiful Gulf beaches, this property offers the perfect blend of comfort, convenience, and Florida lifestyle living. In 2023, new A/C, sub-flooring, flooring, vapor barrier, windows and water heater. New roof installed in 2013. Whether you're looking for a full-time residence, seasonal getaway, or investment opportunity, this home is a must-see!

Key facts

• New flooring
• New water heater
• Gulf beaches

Tags

• HARVEY HEIGHTS NEIGHBORHOOD
• GULF BEACHES
• NEW A/C
• NEW FLOORING
• NEW WINDOWS
• NEW WATER HEATER

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated community; 36 total units in the community; No association fee listed

Exterior

• Parking: Paved driveway with two parking spaces
• Utilities: Public water; Public sewer; Cable available; Municipal irrigation
• Home design: Manufactured home; Vinyl siding; 1 story; Entry level: 1; Facing south; North exposure
• Construction: Shingle roof
• Exterior features: Deck; Storage

Interior

• Kitchen: Microwave; Self-cleaning oven; Refrigerator; Freezer
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Built-in features; Eat-in kitchen; Shower only with separate shower; Single hung windows; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $120k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 2.1% in Iona — 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 72/100 on livability (#359 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, health & safety A; Watch: schools D-, 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 (-1.2%/yr); 1244 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 31% of the median local income ($75k/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 $826 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 30 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $78k; list at $120k implies a 53% 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 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,707 (1.5% below list)

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-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: 1.62% ✓
• Cap rate: 13.83%
• Cash-on-cash: 26.92%
• DSCR: 2.20
• GRM: 5.1

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: -3.4%
• Equity multiple: 0.88×
• Total profit: $-4,128
• Equity at exit: $17,818

10-year hold

• IRR: 1.1%
• Equity multiple: 1.06×
• Total profit: $2,136
• Equity at exit: $10,332

Cash invested: $33,460 (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 33908

• Home prices YoY: -32.8%
• Rents YoY: -1.2%
• Active inventory: 1244
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,935 high
• Mortgage (P&I): −$627
• Tax from tax record: −$102 /mo · $1,220/yr
• Insurance: −$50
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $324

Break-even live

Break-even rent $1,525

Max offer price $119,500

Occupancy floor 78%

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: $29,875
• Closing costs: $3,585
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16001 Bayside Pointe Fort Myers, FL	1.0–3.0	1.0–2.0	1135	$1,888	$1.66	2d	18	0.51mi
7 Birch Blvd Fort Myers, FL	3.0	2.0	1280	$1,600	$1.25	23d	1	0.53mi
15000 Iona Lakes Dr Fort Myers, FL	1.0–3.0	1.0–2.0	900	$1,580	$1.76	1d	26	0.58mi
16007 Davis Rd #614 Fort Myers, FL	2.0	2.0	820	$3,500	$4.27	23d	1	0.62mi
13502 Siesta Pines Ct #402 Fort Myers, FL	2.0	2.0	955	$1,475	$1.54	14d	1	0.82mi
11596 Palm Dr Fort Myers, FL	3.0	2.0	1394	$2,450	$1.76	23d	1	0.82mi
15761 Windward Way Cir #3302 Fort Myers, FL	2.0	2.0	1050	$4,500	$4.29	3d	1	0.85mi
15770 Windward Way Cir #2205 Fort Myers, FL	2.0	2.0	1050	$1,600	$1.52	23d	1	0.86mi
13527 Siesta Pines Ct Fort Myers, FL	2.0	2.5	1244	$1,900	$1.53	23d	1	0.88mi
13533 Siesta Pines Ct Fort Myers, FL	2.0	3.0	1246	$1,800	$1.44	23d	1	0.89mi
12131 Live Oak Dr Fort Myers, FL	3.0	2.0	1186	$1,700	$1.43	3d	1	0.93mi
13420 Hidden Palms Cv Fort Myers, FL	2.0	2.0	1450	$1,600	$1.10	23d	1	0.93mi
16301 Kelly Woods Dr #205 Fort Myers, FL	2.0	2.0	1336	$5,000	$3.74	23d	1	0.96mi
16599 Davis Rd Fort Myers, FL	2.0	2.0	851	$1,800	$2.12	23d	1	0.97mi
15989 Mandolin Bay Dr Fort Myers, FL	2.0	2.0	1152	$1,695	$1.47	23d	1	0.99mi
15999 Mandolin Bay Dr #202 Fort Myers, FL	2.0	2.0	1152	$1,775	$1.54	23d	1	1.00mi
13430 Pine Needle Ln Fort Myers, FL	2.0	1.0	922	$1,200	$1.30	3d	1	1.01mi
13405 Pine Needle Ln Fort Myers, FL	2.0	1.0	852	$1,300	$1.53	3d	1	1.01mi
13401 Pine Needle Ln Unit 13405 Fort Myers, FL	2.0	1.0	852	$1,300	$1.53	3d	1	1.01mi
13426 Pine Needle Ln Fort Myers, FL	2.0	1.0	922	$1,275	$1.38	21d	1	1.02mi
13403 Pine Needle Ln Fort Myers, FL	2.0	1.0	852	$1,300	$1.53	3d	1	1.02mi
16821 Sanibel Sunset Ct #203 Fort Myers, FL	2.0	2.0	1271	$1,750	$1.38	10d	1	1.09mi
11711 Pasetto Ln #102 Fort Myers, FL	2.0	2.0	1055	$2,200	$2.09	23d	1	1.10mi
12641 Kelly Sands Way #225 Fort Myers, FL	2.0	2.0	1069	$5,000	$4.68	23d	1	1.10mi
11701 Olivetti Ln Unit 210 Fort Myers, FL	2.0	2.0	1305	$4,500	$3.45	23d	1	1.10mi
11701 Olivetti Ln Unit 1545836P Fort Myers, FL	3.0	2.0	1388	$4,214	$3.04	14d	1	1.10mi
12621 Kelly Sands Way #305 Fort Myers, FL	2.0	2.0	1106	$5,000	$4.52	23d	1	1.10mi
11701 Pasetto Ln Unit 1049715P Fort Myers, FL	3.0	2.0	1496	$2,960	$1.98	21d	1	1.11mi
16805 Davis Rd #123 Fort Myers, FL	2.0	2.0	808	$1,399	$1.73	23d	1	1.12mi
15514 Kapok Ct Fort Myers, FL	2.0	2.0	900	$1,850	$2.06	23d	1	1.12mi
12171 Kelly Sands Way #1577 Fort Myers, FL	2.0	2.0	1160	$4,500	$3.88	23d	1	1.17mi
16881 Davis Rd Fort Myers, FL	1.0–2.0	1.0–2.0	767	$1,800	$2.35	16d	3	1.18mi
16881 Davis Rd Fort Myers, FL	2.0	1.0–2.0	837	$1,600	$1.91	3d	2	1.18mi
12540 Kelly Greens Blvd #331 Fort Myers, FL	2.0	2.0	1440	$2,100	$1.46	23d	1	1.18mi
11601 Navarro Way #2102 Fort Myers, FL	2.0	2.0	1378	$4,500	$3.27	23d	1	1.21mi
16361 Dublin Cir #203 Fort Myers, FL	2.0	2.0	892	$1,700	$1.91	2d	1	1.22mi
5479 Peppertree Dr Unit E13 Fort Myers, FL	2.0	2.0	964	$1,950	$2.02	23d	1	1.25mi
7171 Drake Dr Fort Myers, FL	3.0	2.0	1346	$2,350	$1.75	23d	1	1.25mi
12150 Kelly Sands Way Fort Myers, FL	2.0	2.0	1087	$3,325	$3.06	3d	3	1.27mi
12150 Kelly Sands Way Fort Myers, FL	2.0	2.0	1087	$4,700	$4.32	23d	2	1.27mi

Listing history 17 events

1. 2026-06-17
   days on market $119,500 Active 30 DOM
2. 2026-06-16
   days on market $119,500 Active 29 DOM
3. 2026-06-15
   days on market $119,500 Active 28 DOM
4. 2026-06-13
   days on market $119,500 Active 26 DOM
5. 2026-06-10
   days on market $119,500 Active 23 DOM
6. 2026-06-09
   days on market $119,500 Active 22 DOM
7. 2026-06-08
   days on market $119,500 Active 21 DOM
8. 2026-06-07
   days on market $119,500 Active 20 DOM
9. 2026-06-03
   days on market $119,500 Active 16 DOM
10. 2026-06-02
    days on market $119,500 Active 15 DOM
11. 2026-06-01
    days on market $119,500 Active 14 DOM
12. 2026-05-31
    days on market $119,500 Active 13 DOM
13. 2026-05-18
    listed $119,500 Active
14. 2015-03-02
    price $74,900
15. 2004-01-22
    soldstatus $77,900
16. 2003-12-22
    soldstatus $77,900
17. 1998-03-03
    soldstatus $17,500

ⓘ 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: $1,220 · $102/mo
• Projected year-2 tax: $1,220 · $102/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $23,223
• − Mortgage interest: −$6,694
• − Property taxes: −$1,220
• − Insurance: −$5,716
• − Repairs & maintenance: −$1,858
• − Management: −$1,858
• − Depreciation: −$3,476
• Taxable income: $2,401
• Est. tax owed @ 24.0%: −$576
• After-tax cash flow: $3,314/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 — Iona

• Score: 72/100
• State rank: #359
• US rank: #6253

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iona, FL
• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 37,423
• Household income: $75,396
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 1944.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 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: ▼ -102.22%
• Current HPI: 209.7595
• Rent YoY: ▼ -1.18%
• 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

+582.9% since first listed

5 events — show timeline

• 2026-05-18 Listed $119,500 FORTMLS
• 2015-03-02 Price Changed $74,900 FORTMLS
• 2004-01-22 Sold (Public Records) $77,900 Public Records
• 2003-12-22 Sold (MLS) $77,900 FORTMLS
• 1998-03-03 Sold (Public Records) $17,500 Public Records

Property tax history

+6.6%/yr

Latest (2025): $1,220 · +75.9% YoY. Source: county tax records.