10750 Wales Loop · Bonita Springs, FL 34135

$148,000

2 bd · 2.0 ba · 677 sqft · Condo public records · 327 Days on market

Built 1990 $95/mo HOA · 5% of rent

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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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fabulous and 55+ community in the heart of southwest Florida! Only affordable ownership in this manufactured home community. Ownership in Bonita St. James Village means the monthy HOA fee is only $76! Where else in paradise is so affordable? $76 monthly covers a lovely community pool, spa, community center, trash, lawn maintenance (inc mowing, edging, (2) tree maintenance), roads and other common costs, inc on-site manager. Low property taxes (eligible for Homesteading). Lifetime guarantee on roof. Screened lanai raised to same level as home, overlooks lawn. Near dining, post office, Bonita Beach and a major mall. Just a bit further north to Fort Myers or a bit further south to Naples. Come and experience the climate, the history, the culture and the nature of paradise! * Bonita St. James Village offers a gated storage lot for RV's, boats, trailers, motorcycles, etc. * One resident must be 55 or above, other resident must be 45 or above. * 118 homesites, approximately 1/3 are full time. * leasing allowed, 12 annually/one month minimum. * 2 small pets, 25 lbs or less.

Key facts

• Low hoa fees
• Included appliances
• 4,356 sq ft lot

Tags

• LOW HOA FEES
• YEARLY DIGITAL BEACH PASS
• INCLUDED APPLIANCES

Property features AI

Finance

• Other: Community has 118 units; building contains 1 unit and is one floor; Property restrictions: deeded, limited number of vehicles, no motorcycles, no RV
• HOA & community: Mandatory HOA; $95 monthly HOA fee; Annual recurring fees about $1,140; One-time fees about $300; On-site management; HOA covers lawn/land maintenance, manager, reserves, sewer, trash removal; Community amenities: clubhouse, community pool, community spa/hot tub, community park, library, bike storage, boat storage, underground utilities; Mobile/manufactured community

Exterior

• Parking: Covered parking; Paved driveway; Attached 1-car carport
• Security: Smoke detector
• Utilities: Central water; Central sewer; Cable available
• Home design: Manufactured residential home; Single-story; Rear exposure faces west; Located in BONITA ST JAMES VILLAGE
• Construction: Manufactured construction; Built in 1990
• Exterior features: Casement and single-hung windows; Shutters (manual); Vinyl siding; Roof over; Landscaped view; Private road; Regular lot

Interior

• Kitchen: Range; Microwave; Refrigerator/Freezer
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom; Master bath with combo tub and shower
• Heating & cooling: Central electric heat; Central electric cooling; Heat pump
• Interior features: Built-in cabinets; Laundry tub; Pantry; Window coverings; Eat-in kitchen; Guest room; Screened lanai/porch; Workshop; Partially furnished; Split bedroom floor plan; 3 ceiling fans
• Laundry & utility: Washer; Dryer; Laundry in residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $148k.

Deal economics

• At list price, monthly cash flow is $500 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $130k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.3% 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 soft (-0.6%/yr); 835 active listings in the ZIP; 6 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 327 days — a 12% lower offer ($130k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y ago; this cycle's ask has dropped $17k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $148k implies a 147% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $130,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 327 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.31% ✓
• Cap rate: 10.35%
• Cash-on-cash: 14.48%
• DSCR: 1.64
• GRM: 6.4

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: 1.5%
• Equity multiple: 1.05×
• Total profit: $2,240
• Equity at exit: $22,067

10-year hold

• IRR: 7.8%
• Equity multiple: 1.51×
• Total profit: $21,215
• Equity at exit: $12,796

Cash invested: $41,440 (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 34135

• Rents YoY: -0.6%
• Active inventory: 835
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,932 high
• Mortgage (P&I): −$776
• Tax from tax record: −$93 /mo · $1,118/yr
• Insurance: −$62
• HOA: −$95
• Vacancy / Maint / Mgmt: −$406
• Net cashflow: $500

Break-even live

Break-even rent $1,299

Max offer price $148,000

Occupancy floor 69%

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27020 Williams Rd #5 Bonita Springs, FL	1.0	1.0	595	$1,700	$2.86	23d	1	0.91mi
27250 Shriver Ave Unit 1073504P Bonita Springs, FL	2.0	1.0	661	$4,275	$6.46	3d	2	1.13mi
27095 Matheson Ave #206 Bonita Springs, FL	1.0	1.0	715	$1,500	$2.10	23d	1	1.22mi
27103 Matheson Ave #206 Bonita Springs, FL	1.0	1.0	713	$1,700	$2.38	14d	1	1.24mi
27123 Matheson Ave #106 Bonita Springs, FL	1.0	1.0	713	$1,600	$2.24	23d	1	1.28mi
10284 Pennsylvania Ave Bonita Springs, FL	1.0	1.0	480	$2,000	$4.17	23d	1	1.33mi

HOA detail condo

• Monthly dues: $95 · $1,140/yr
• Likely covers: trashpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-17
   days on market $148,000 Active 327 DOM
2. 2026-06-16
   days on market $148,000 Active 326 DOM
3. 2026-06-16
   days on market $148,000 Active 325 DOM
4. 2026-06-13
   pricedays on market $148,000 Active 323 DOM
5. 2026-06-09
   days on market $154,000 Active 319 DOM
6. 2026-06-07
   days on market $154,000 Active 317 DOM
7. 2026-06-02
   days on market $154,000 Active 312 DOM
8. 2026-06-01
   days on market $154,000 Active 311 DOM
9. 2026-06-01
   days on market $154,000 Active 310 DOM
10. 2026-01-20
    price $154,000
11. 2025-07-25
    listed $165,000 Active
12. 2013-10-24
    soldstatus $60,000 1087-char remark

    Show marketing remark (1087 chars)

    Fabulous and 55+ community in the heart of southwest Florida! Only affordable ownership in this manufactured home community. Ownership in Bonita St. James Village means the monthy HOA fee is only $76! Where else in paradise is so affordable? $76 monthly covers a lovely community pool, spa, community center, trash, lawn maintenance (inc mowing, edging, (2) tree maintenance), roads and other common costs, inc on-site manager. Low property taxes (eligible for Homesteading). Lifetime guarantee on roof. Screened lanai raised to same level as home, overlooks lawn. Near dining, post office, Bonita Beach and a major mall. Just a bit further north to Fort Myers or a bit further south to Naples. Come and experience the climate, the history, the culture and the nature of paradise! * Bonita St. James Village offers a gated storage lot for RV's, boats, trailers, motorcycles, etc. * One resident must be 55 or above, other resident must be 45 or above. * 118 homesites, approximately 1/3 are full time. * leasing allowed, 12 annually/one month minimum. * 2 small pets, 25 lbs or less.

13. 2013-10-24
    price $62,500 1087-char remark

    Show marketing remark (1087 chars)

    Fabulous and 55+ community in the heart of southwest Florida! Only affordable ownership in this manufactured home community. Ownership in Bonita St. James Village means the monthy HOA fee is only $76! Where else in paradise is so affordable? $76 monthly covers a lovely community pool, spa, community center, trash, lawn maintenance (inc mowing, edging, (2) tree maintenance), roads and other common costs, inc on-site manager. Low property taxes (eligible for Homesteading). Lifetime guarantee on roof. Screened lanai raised to same level as home, overlooks lawn. Near dining, post office, Bonita Beach and a major mall. Just a bit further north to Fort Myers or a bit further south to Naples. Come and experience the climate, the history, the culture and the nature of paradise! * Bonita St. James Village offers a gated storage lot for RV's, boats, trailers, motorcycles, etc. * One resident must be 55 or above, other resident must be 45 or above. * 118 homesites, approximately 1/3 are full time. * leasing allowed, 12 annually/one month minimum. * 2 small pets, 25 lbs or less.

14. 2013-08-24
    listed $60,000 1087-char remark

    Show marketing remark (1087 chars)

    Fabulous and 55+ community in the heart of southwest Florida! Only affordable ownership in this manufactured home community. Ownership in Bonita St. James Village means the monthy HOA fee is only $76! Where else in paradise is so affordable? $76 monthly covers a lovely community pool, spa, community center, trash, lawn maintenance (inc mowing, edging, (2) tree maintenance), roads and other common costs, inc on-site manager. Low property taxes (eligible for Homesteading). Lifetime guarantee on roof. Screened lanai raised to same level as home, overlooks lawn. Near dining, post office, Bonita Beach and a major mall. Just a bit further north to Fort Myers or a bit further south to Naples. Come and experience the climate, the history, the culture and the nature of paradise! * Bonita St. James Village offers a gated storage lot for RV's, boats, trailers, motorcycles, etc. * One resident must be 55 or above, other resident must be 45 or above. * 118 homesites, approximately 1/3 are full time. * leasing allowed, 12 annually/one month minimum. * 2 small pets, 25 lbs or less.

ⓘ 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: $1,118 · $93/mo
• Projected year-2 tax: $1,228 · $102/mo
• Expected delta: +$111/yr (+$9/mo · 9.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 48% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $23,181
• − Mortgage interest: −$8,290
• − Property taxes: −$1,118
• − Insurance: −$740
• − Repairs & maintenance: −$1,854
• − Management: −$1,854
• − HOA: −$1,140
• − Depreciation: −$4,305
• Taxable income: $3,878
• Est. tax owed @ 24.0%: −$931
• After-tax cash flow: $5,071/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): 48,252
• Household income: $91,380
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 976.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 21% French/Haitian/Cajun 1% Russian/Polish/Slavic 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: ▼ -188.86%
• Current HPI: 243.4153
• Rent YoY: ▼ -0.61%
• 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

+156.7% since first listed

5 events — show timeline

• 2026-01-20 Price Changed $154,000 NAPLESMLS
• 2025-07-25 Listed $165,000 NAPLESMLS
• 2013-10-24 Price Changed $62,500 NAPLESMLS
• 2013-10-24 Sold (MLS) $60,000 NAPLESMLS
• 2013-08-24 Listed $60,000 NAPLESMLS

Property tax history

+5.6%/yr

Latest (2025): $1,118 · -1.3% YoY. Source: county tax records.