1 bd · 1.0 ba ·
490 sqft ·
Built 2024
· Manufactured
· Active
· 603 DOM
Cashflow @ list (25.0% down · 7.5%)
Estimated rent
$1,327/mo
Mortgage (P&I)
−$608
Tax + insurance
−$193
HOA
−$0
Vac / Maint / Mgmt
−$279
Net cashflow
$246/mo
Annual
$2,957/yr
Cap rate
8.84%
Cash-on-cash
9.10%
DSCR
1.41
1% rule
1.14%
Cash to close
$32,479
Investor read
This is a 1-bed/1.0-bath manufactured listed at $116k.
At list price, monthly cash flow is $246 ($3k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($1k rent vs $116k).
It's been on market 603 days — a 12% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
Recommended offer: $102k (12.0% below list) — sets the bar for market timing.
Local home prices are declining (-3.0%/yr); year-one equity from $802 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
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; solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
Lee County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
Cap rate 8.8% 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.
Questions for listing agent
It's been on market 603 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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.
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.
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.
CashFlowRE · CFR-682Y5W4GVRZ3C9
· Data 1 week agocashflowre.app · 2026-05-29