5 Fountain View Blvd · North Fort Myers, FL 33903

$49,950

1 bd · 1.0 ba · 408 sqft · Manufactured public records · 218 Days on market

Built 1986 2,134 sqft lot Est $61k · 18% under $265/mo HOA · 22% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

J. U. S. T. .. .R. E. D. U. C. E. D. .. . $ 5 , 0 0 0.. .. .To. .. .. $ 2 4 , 9 9 9 . Beautiful Very Active Park, Dancing, Dinners Swimming, Hot Tub, Tennis, Sauna, Pool Tables, Volleyball Etc. All For $ 8 3 . 0 0 / Mo. Vacantnote: Fee Incl. Water/Sewer & Cable. Adult Park

Key facts

• Small detached shed
• Laminate flooring
• Turnkey property

Tags

• TURNKEY PROPERTY
• LAMINATE FLOORING
• VAULTED CEILINGS
• OVERSIZED DRIVEWAY
• SMALL DETACHED SHED
• LOW HOA DUES

Property features AI

Finance

• Other: Zoning described as RV
• Financial info: Pets allowed with conditions (call for details); maximum 1 pet up to 20 lb
• HOA & community: Homeowners association with a monthly fee of $265; Association covers cable TV, grounds maintenance, recreation facilities, reserve fund, road maintenance, sewer, street lights, and water; Association amenities include clubhouse, pool, spa/hot tub, sport courts (tennis, basketball), bocce court, laundry facilities, RV/boat storage, and management; Community is non-gated with street lights; Senior community; Community contains approximately 400 units

Exterior

• Parking: No parking details provided
• Security: No security features listed
• Utilities: Public water; Public sewer; Cable available
• Home design: Manufactured home; Single-story; Entry level: 1; Faces south; North exposure
• Construction: Vinyl siding; Shingle roof; Resale property
• Exterior features: No notable exterior features listed; Community pool

Interior

• Kitchen: Freezer; Microwave; Range; Refrigerator
• Bedrooms: No room-specific bedroom info provided
• Flooring: Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Furnished; Living/Dining room; Single hung windows
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $50k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.0% 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 soft (-1.9%/yr); 472 active listings in the ZIP; 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 $346 of loan paydown is wiped out by about $1k 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 + 0.0% rent growth), your $14k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $50k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $43,956 (12.0% below list)

Questions for the listing agent

1. It's been on market 218 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.46% ✓
• Cap rate: 14.04%
• Cash-on-cash: 27.67%
• DSCR: 2.23
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $61,200
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
169 Vista Mar Dr	0.16mi	1/1.0	386 (-5%)	6mo	$30,000	$78	78
10 Fountain View Blvd	0.03mi	1/1.5	442 (+8%)	22mo	$66,500	$150	64

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 16.9%
• Equity multiple: 1.65×
• Total profit: $9,045
• Equity at exit: $7,448

10-year hold

• IRR: 22.1%
• Equity multiple: 2.52×
• Total profit: $21,219
• Equity at exit: $4,319

Cash invested: $13,986 (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 33903

• Rents YoY: -1.9%
• Active inventory: 472
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$102 /mo · $1,229/yr
• Insurance: −$21
• HOA: −$265
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $323

Break-even live

Break-even rent $823

Max offer price $49,950

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: $12,488
• Closing costs: $1,498
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $265 · $3,180/yr
• Likely covers: watersewercablepool

Listing history 8 events

1. 2026-05-20
   status Pending
2. 2026-04-01
   price $49,950
3. 2026-03-02
   status Active
4. 2026-02-14
   status Pending
5. 2025-09-22
   listed $55,000 Active
6. 2002-11-27
   soldstatus $20,000 280-char remark

   Show marketing remark (280 chars)

   J. U. S. T. .. .R. E. D. U. C. E. D. .. . $ 5 , 0 0 0.. .. .To. .. .. $ 2 4 , 9 9 9 . Beautiful Very Active Park, Dancing, Dinners Swimming, Hot Tub, Tennis, Sauna, Pool Tables, Volleyball Etc. All For $ 8 3 . 0 0 / Mo. Vacantnote: Fee Incl. Water/Sewer & Cable. Adult Park

7. 2002-11-08
   price $24,999 280-char remark

   Show marketing remark (280 chars)

   J. U. S. T. .. .R. E. D. U. C. E. D. .. . $ 5 , 0 0 0.. .. .To. .. .. $ 2 4 , 9 9 9 . Beautiful Very Active Park, Dancing, Dinners Swimming, Hot Tub, Tennis, Sauna, Pool Tables, Volleyball Etc. All For $ 8 3 . 0 0 / Mo. Vacantnote: Fee Incl. Water/Sewer & Cable. Adult Park

8. 1990-03-13
   soldstatus $18,500

ⓘ 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: $1,229 · $102/mo
• Projected year-2 tax: $1,229 · $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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,775
• − Mortgage interest: −$2,798
• − Property taxes: −$1,229
• − Insurance: −$250
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − HOA: −$3,180
• − Depreciation: −$1,453
• Taxable income: $3,501
• Est. tax owed @ 24.0%: −$840
• After-tax cash flow: $3,030/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): 23,655
• Household income: $56,993
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 468.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 14% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 3%
• Common ancestry: Lithuanian 4% Romanian 4% Italian 3%
• Foreign-born: 11% · Canada
• Languages at home: 88% English-only · Spanish 9% 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: ▼ -172.26%
• Current HPI: 256.773
• Rent YoY: ▼ -1.94%
• 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

+170.0% since first listed

8 events — show timeline

• 2026-05-20 Pending — FORTMLS
• 2026-04-01 Price Changed $49,950 FORTMLS
• 2026-03-02 Relisted — FORTMLS
• 2026-02-14 Pending — FORTMLS
• 2025-09-22 Listed $55,000 FORTMLS
• 2002-11-27 Sold (MLS) $20,000 FORTMLS
• 2002-11-08 Price Changed $24,999 FORTMLS
• 1990-03-13 Sold (Public Records) $18,500 Public Records

Property tax history

+9.9%/yr

Latest (2025): $1,229 · +10.0% YoY. Source: county tax records.