11201 Tango Dr · Bonita Springs, FL 34135

$175,000

2 bd · 2.0 ba · 1,333 sqft · Manufactured public records · 123 Days on market

Built 1984 5,706 sqft lot Est $283k · 38% under

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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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• 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

Wow, true Florida living at it's best. Beautiful and Florida landscaped yard, lots of ceramic tile, vaulted ceilings, and a Florida room-style dining area are just a few of the amazing qualities of this awesome find! This home needs work, but the location is fantastic. Live within minutes of I-75, Bonita Bay, Estero Bay, golfing, and the Bonita Springs Community Park. Call us today for more details about this wonderful property!

Key facts

• Metal roof
• Private lot
• No hoa

Tags

• NO HOA
• METAL ROOF
• PRIVATE LOT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $436 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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; 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 32% of the median local income ($91k/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 $1k of loan paydown is wiped out by about $5k 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 123 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y ago; this cycle's ask has dropped $70k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $175k implies a 609% 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 $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.40% ✓
• Cap rate: 12.21%
• Cash-on-cash: 21.13%
• DSCR: 1.94
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $282,596
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11141 Torchfire Trl	0.14mi	3/2.0 (+1)	1,344 (+1%)	24mo	$285,000	$212	68

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: -4.3%
• Equity multiple: 0.85×
• Total profit: $-7,505
• Equity at exit: $26,093

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $2,462
• Equity at exit: $15,131

Cash invested: $49,000 (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: 6.0×

Monthly cashflow live

• Estimated rent: $2,442 high
• Mortgage (P&I): −$918
• Tax from tax record: −$75 /mo · $902/yr
• Insurance: −$73
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $436

Break-even live

Break-even rent $1,889

Max offer price $175,000

Occupancy floor 77%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26978 Wildwood Pines Ln Bonita Springs, FL	3.0	2.0	1672	$2,850	$1.70	23d	1	0.31mi
11495 Forest Mere Dr Bonita Springs, FL	3.0	2.0	1422	$2,400	$1.69	23d	1	0.33mi
26760 Silverado East Dr Bonita Springs, FL	3.0	2.5	1278	$2,700	$2.11	3d	1	0.43mi
27083 Matheson Ave #208 Bonita Springs, FL	2.0	2.0	970	$1,750	$1.80	23d	1	0.47mi
26560 Southern Pines Dr Bonita Springs, FL	2.0	2.5	1200	$1,850	$1.54	3d	1	0.52mi
27107 Matheson Ave Unit 4-108 Bonita Springs, FL	2.0	2.0	975	$3,995	$4.10	23d	1	0.53mi
11931 Palm Bay Ct Unit 202 Bonita Springs, FL	2.0	2.0	940	$1,700	$1.81	3d	1	0.56mi
11931 Palm Bay Ct Unit 102 Bonita Springs, FL	2.0	2.0	940	$1,800	$1.91	23d	1	0.56mi
11931 Palm Bay Ct Unit 202 Bonita Springs, FL	2.0	2.0	940	$1,885	$2.01	10d	1	0.56mi
27123 Matheson Ave Bonita Springs, FL	2.0	2.0	970	$1,300	$1.34	3d	1	0.62mi
26197 Palace Ln #102 Bonita Springs, FL	2.0	2.0	1279	$4,200	$3.28	23d	1	0.66mi
10710 Rosemary Dr #712 Bonita Springs, FL	1.0	1.0	984	$1,750	$1.78	23d	1	0.68mi
11305 Monte Carlo Blvd #202 Bonita Springs, FL	3.0	2.0	1532	$2,980	$1.95	11d	1	0.70mi
11305 Monte Carlo Blvd #202 Bonita Springs, FL	3.0	2.0	1532	$5,500	$3.59	23d	1	0.70mi
27376 Imperial Oaks Cir Bonita Springs, FL	3.0	2.0	1719	$3,500	$2.04	10d	1	0.71mi
26141 Palace Ln #201 Bonita Springs, FL	3.0	2.0	1661	$2,500	$1.51	23d	1	0.76mi
27302 Dortch Ave Bonita Springs, FL	3.0	2.0	1400	$3,100	$2.21	2d	1	0.80mi
27310 Dortch Ave Bonita Springs, FL	3.0	2.0	1400	$2,850	$2.04	13d	1	0.81mi
27249 Pullen Ave #4 Bonita Springs, FL	2.0	2.5	956	$3,200	$3.35	23d	1	0.83mi
27249 Pullen Ave #5 Bonita Springs, FL	2.0	2.0	956	$1,950	$2.04	23d	1	0.83mi
10725 Wilson St #11 Bonita Springs, FL	2.0	12.0	1008	$1,800	$1.79	23d	1	0.85mi
27599 Lime St Bonita Springs, FL	2.0	1.0	900	$1,800	$2.00	23d	1	0.87mi
26680 Little John Ct #82 Bonita Springs, FL	2.0	2.0	983	$1,650	$1.68	23d	1	0.90mi
26728 Little John Ct #7 Bonita Springs, FL	2.0	2.0	1208	$1,895	$1.57	23d	1	0.90mi
27250 Shriver Ave Unit 1073504P Bonita Springs, FL	2.0	1.0	661	$4,275	$6.46	3d	2	0.92mi
12243 Londonderry Ln Bonita Springs, FL	2.0	2.0	1518	$2,165	$1.43	23d	1	0.92mi
26747 Little John Ct #10 Bonita Springs, FL	2.0	2.0	1208	$1,895	$1.57	23d	1	0.92mi
26705 Little John Ct #54 Bonita Springs, FL	2.0	2.0	983	$4,000	$4.07	23d	1	0.93mi
26687 Little John Ct #80 Bonita Springs, FL	2.0	2.0	983	$1,700	$1.73	3d	1	0.93mi
26658 Little John Ct #94 Bonita Springs, FL	2.0	2.0	983	$1,680	$1.71	23d	1	0.93mi
26729 Little John Ct #23 Bonita Springs, FL	2.0	2.0	983	$3,000	$3.05	23d	1	0.94mi
26741 Little John Ct #16 Bonita Springs, FL	2.0	2.0	1208	$1,895	$1.57	23d	1	0.94mi
12303 Londonderry Ln Unit 12303 Bonita Springs, FL	2.0	2.0	1518	$2,165	$1.43	23d	1	0.97mi
12349 Londonderry Ln Bonita Springs, FL	2.0	2.0	1142	$2,295	$2.01	23d	1	1.00mi
12341 Notting Hill Ln #25 Bonita Springs, FL	3.0	2.0	1523	$2,150	$1.41	23d	1	1.04mi
28000 Crest Preserve Cir Bonita Springs, FL	1.0–2.0	1.0–2.0	897	$2,519	$2.81	2d	23	1.14mi
11350 Pendleton St #352 Bonita Springs, FL	2.0	1.0	1020	$1,800	$1.76	23d	1	1.15mi
10575 Crockett St Unit 406 Bonita Springs, FL	2.0	2.0	900	$2,450	$2.72	3d	1	1.24mi
10575 Crockett St Unit 303 Bonita Springs, FL	2.0	2.0	1000	$2,400	$2.40	23d	1	1.24mi
27044 Williams Rd Bonita Springs, FL	3.0	3.0	1600	$6,900	$4.31	23d	1	1.26mi

Listing history 13 events

1. 2026-04-19
   status Pending
2. 2026-04-14
   price $175,000
3. 2026-03-30
   price $180,000
4. 2026-03-11
   price $195,000
5. 2026-02-19
   price $210,000
6. 2026-01-31
   price $235,000
7. 2025-12-17
   listed $245,000 Active
8. 2011-05-18
   soldstatus $24,700 433-char remark

   Show marketing remark (433 chars)

   Wow, true Florida living at it's best. Beautiful and Florida landscaped yard, lots of ceramic tile, vaulted ceilings, and a Florida room-style dining area are just a few of the amazing qualities of this awesome find! This home needs work, but the location is fantastic. Live within minutes of I-75, Bonita Bay, Estero Bay, golfing, and the Bonita Springs Community Park. Call us today for more details about this wonderful property!

9. 2011-05-18
   price $26,000 433-char remark

   Show marketing remark (433 chars)

   Wow, true Florida living at it's best. Beautiful and Florida landscaped yard, lots of ceramic tile, vaulted ceilings, and a Florida room-style dining area are just a few of the amazing qualities of this awesome find! This home needs work, but the location is fantastic. Live within minutes of I-75, Bonita Bay, Estero Bay, golfing, and the Bonita Springs Community Park. Call us today for more details about this wonderful property!

10. 2010-11-14
    historical
11. 2010-04-02
    listed $23,000
12. 2001-03-24
    soldstatus $63,000
13. 1992-06-11
    soldstatus $55,000

ⓘ 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: $902 · $75/mo
• Projected year-2 tax: $1,452 · $121/mo
• Expected delta: +$550/yr (+$46/mo · 61.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 57% chance over 30 yrs
• 🔥 Wildfire 2/10 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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,298
• − Mortgage interest: −$9,803
• − Property taxes: −$902
• − Insurance: −$5,994
• − Repairs & maintenance: −$2,344
• − Management: −$2,344
• − Depreciation: −$5,091
• Taxable income: $2,821
• Est. tax owed @ 24.0%: −$677
• After-tax cash flow: $4,560/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

+218.2% since first listed

13 events — show timeline

• 2026-04-19 Pending — FORTMLS
• 2026-04-14 Price Changed $175,000 FORTMLS
• 2026-03-30 Price Changed $180,000 FORTMLS
• 2026-03-11 Price Changed $195,000 FORTMLS
• 2026-02-19 Price Changed $210,000 FORTMLS
• 2026-01-31 Price Changed $235,000 FORTMLS
• 2025-12-17 Listed $245,000 FORTMLS
• 2011-05-18 Price Changed $26,000 FORTMLS
• 2011-05-18 Sold (MLS) $24,700 FORTMLS
• 2010-11-14 Listing Removed — Stellar MLS as Distributed by MLS Grid
• 2010-04-02 Listed $23,000 Stellar MLS as Distributed by MLS Grid
• 2001-03-24 Sold (Public Records) $63,000 Public Records
• 1992-06-11 Sold (Public Records) $55,000 Public Records

Property tax history

-1.9%/yr

Latest (2025): $902 · +7.4% YoY. Source: county tax records.