16700 Slater Rd · North Fort Myers, FL 33917

$15,999

2 bd · 2.0 ba · 5,103 sqft · SingleFamily · 159 Days on market

Built 1985 92 ac lot ↓ 11% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1985 Mobile Home for Sale 55+ Community (40+ w/ Approval) Eagle Estates | North Fort Myers, FL 28 ft x 44 ft Double Wide Mobile Home Move-in ready and fully furnished everything you see stays! 786 216 5559 Owner Home Details 2 Bedrooms 2 Bathrooms Central A/C Brand new carport Spacious and functional layout Quiet and well-maintained community This home is clean, comfortable, and ready for its new owner. A great option for those looking for an affordable and peaceful lifestyle. Community Rules 55+ Community (40+ w/ Approval) Monthly Costs Lot Rent: $945.00

Key facts

• Move-in ready
• Brand new carport
• 92.14 acre lot

Tags

• DOUBLE WIDE MOBILE HOME
• MOVE-IN READY
• BRAND NEW CARPORT

Property features AI

Exterior

• Home design: House
• Construction: 5,103 square feet of living area
• Exterior features: Approximately 92.14-acre lot

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $16k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $16k).
• Recommended offer: $14k (12.0% below list) — sets the bar for market timing.
• Cap rate 98.4% 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 rising (+2.6%/yr); 841 active listings in the ZIP; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 37% of the median local income ($55k/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 $110 of loan paydown is wiped out by about $480 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.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $4k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($14k) is reasonable based on typical stale-listing flexibility.

Recommended offer $14,079 (12.0% below list)

Questions for the listing agent

1. It's been on market 159 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. 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: 10.60% ✓
• Cap rate: 98.45%
• Cash-on-cash: 329.12%
• DSCR: 15.64
• GRM: 0.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 17.75×
• Total profit: $75,056
• Equity at exit: $2,386

10-year hold

• IRR: —
• Equity multiple: 37.53×
• Total profit: $163,662
• Equity at exit: $1,383

Cash invested: $4,480 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 0.8×

Monthly cashflow live

• Estimated rent: $1,695 medium
• Mortgage (P&I): −$84
• Tax est. 1.5%: −$20 /mo · $240/yr
• Insurance: −$7
• HOA: −$0
• Vacancy / Maint / Mgmt: −$356
• Net cashflow: $1,229

Break-even live

Break-even rent $140

Max offer price $15,999

Occupancy floor 23%

Sensitivity live

Price	-10% $1,240	-5% $1,234	+0% $1,229	+5% $1,223	+10% $1,218
Rent	-10% $1,095	-5% $1,162	+0% $1,229	+5% $1,296	+10% $1,363
Rate	-1.0pp $1,237	-0.5pp $1,233	base $1,229	+0.5pp $1,224	+1.0pp $1,220

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: $4,000
• Closing costs: $480
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-17
   days on market $15,999 Active 159 DOM
2. 2026-06-16
   days on market $15,999 Active 158 DOM
3. 2026-06-16
   days on market $15,999 Active 157 DOM
4. 2026-06-13
   days on market $15,999 Active 155 DOM
5. 2026-06-09
   days on market $15,999 Active 151 DOM
6. 2026-06-07
   days on market $15,999 Active 149 DOM
7. 2026-06-01
   days on market $15,999 Active 143 DOM
8. 2026-06-01
   days on market $15,999 Active 142 DOM
9. 2026-02-06
   price $15,999
10. 2026-01-09
    listed $17,999 Active

ⓘ 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: $20,342
• − Mortgage interest: −$896
• − Property taxes: −$240
• − Insurance: −$80
• − Repairs & maintenance: −$1,627
• − Management: −$1,627
• − Depreciation: −$465
• Taxable income: $15,406
• Est. tax owed @ 24.0%: −$3,697
• After-tax cash flow: $11,046/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): 33,380
• Household income: $55,000
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 775.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -122.28%
• Current HPI: 282.2895
• Rent YoY: ▲ 2.63%
• 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

-11.1% since first listed

2 events — show timeline

• 2026-02-06 Price Changed $15,999 ForSaleByOwner.com
• 2026-01-09 Listed $17,999 ForSaleByOwner.com