10390 Wales Loop · Bonita Springs, FL 34135

$234,400

2 bd · 2.0 ba · 1,029 sqft · Condo public records · 116 Days on market

Built 1991 $95/mo HOA · 4% of rent ↓ 5% since listing

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Why this score? — see what drove the C+ 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• 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

This 2-2 Double Wide is Located in the Sought After "Bonita Saint James Village" Located less then 5 Miles to the Sandy Beaches' of the Gulf of Mexico. a little quaint 55+ community right Smack in the Center of all That Bonita Springs Has to offer. Being Sold Furnished and Tastefully Decorated. Grab your toothbrush, pack a Bag, and start living the Florida lifestyle. watch a Sunset from your very own piece of Paradise, enjoy a cocktail with friends on the lovely open patio this home offers, how about a hand of cards in the perfect sized Florida room. Options are Endless. Let's Make this home yours before it becomes someone else's.

Key facts

• Modern upgrades
• Florida living
• Updated home

Tags

• UPDATED HOME
• MODERN UPGRADES
• FLORIDA LIVING
• MINUTES FROM DINING
• MINUTES FROM ENTERTAINMENT
• MINUTES FROM SHOPPING

Property features AI

Finance

• Other: Zoning: MHPD; Lot unit 133; regular lot; lot dimensions source: Property Appraiser Office
• HOA & community: Mandatory HOA; Professional management; Monthly HOA fee of $95; Total annual recurring fees $1,140; one-time fees $150; HOA maintenance includes lawn/land maintenance, manager, recreation facilities, reserves, street lights, and street maintenance; Community amenities include community pool, spa/hot tub, community room, bocce court, shuffleboard, billiards, library, boat storage, extra storage, community park, and underground utilities; Community type: Mobile/Manufactured, non-gated

Exterior

• Parking: Covered parking; Driveway (paved); Attached carport (1 space); 2+ parking spaces
• Utilities: Central water; Central sewer; Cable available
• Home design: Manufactured residential home; 1 story / ranch; Rear exposure to the south; Located in Bonita St James Village
• Construction: Manufactured construction; Vinyl siding exterior; Rolled roof; Built in 1991; Deeded restrictions
• Exterior features: Patio; Double-hung and sliding windows; Storm protection (see remarks); Landscaped area view; Paved, private road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Range; Refrigerator/Freezer; Pantry; Built-in desk
• Bedrooms: 2 bedrooms (split bedroom floor plan)
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms; Master bath with shower only
• Heating & cooling: Central electric heat; Central electric air conditioning; Ceiling fans
• Interior features: Pantry; Window coverings; Built-in desk; Dining area combined with living; Eat-in kitchen; Florida room; Guest room; Guest bath; Laundry in residence; Partially furnished; 3 ceiling fans
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $234k.

Deal economics

• At list price, monthly cash flow is $539 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $234k).
• Recommended offer: $213k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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 35% 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 $2k of loan paydown is wiped out by about $7k 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 116 days — a 9% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $36k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $213,304 (9.0% below list)

Questions for the listing agent

1. It's been on market 116 days. Have you received any prior offers? Is the seller open to a 9% 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: 1.14% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.86%
• DSCR: 1.44
• GRM: 7.3

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: -4.8%
• Equity multiple: 0.83×
• Total profit: $-11,466
• Equity at exit: $34,950

10-year hold

• IRR: 1.0%
• Equity multiple: 1.06×
• Total profit: $4,025
• Equity at exit: $20,267

Cash invested: $65,632 (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: 7.3×

Monthly cashflow live

• Estimated rent: $2,670 high
• Mortgage (P&I): −$1,229
• Tax from tax record: −$148 /mo · $1,779/yr
• Insurance: −$98
• HOA: −$95
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $539

Break-even live

Break-even rent $1,987

Max offer price $234,400

Occupancy floor 75%

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: $58,600
• Closing costs: $7,032
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10328 Windley Key Ter Bonita Springs, FL	3.0	2.0	1400	$2,600	$1.86	14d	1	0.06mi
10325 Tarrah Ln Unit 1073517P Bonita Springs, FL	2.0	1.0	818	$4,608	$5.63	2d	1	0.26mi
10101 Sandy Hollow Ln #102 Bonita Springs, FL	2.0	2.5	808	$1,645	$2.04	23d	1	0.29mi
25806 Cockleshell Dr #314 Bonita Springs, FL	2.0	2.0	975	$1,800	$1.85	23d	1	0.34mi
26175 Bonita Fairways Blvd Bonita Springs, FL	3.0	2.0	1308	$3,000	$2.29	15d	1	0.51mi
25727 Lake Amelia Way #105 Bonita Springs, FL	2.0	2.0	1230	$2,200	$1.79	23d	1	0.56mi
25735 Lake Amelia Way #105 Bonita Springs, FL	2.0	2.0	1230	$1,500	$1.22	23d	1	0.57mi
25480 Cockleshell Dr #1005 Bonita Springs, FL	2.0	2.5	1129	$4,500	$3.99	21d	1	0.59mi
25480 Cockleshell Dr #1005 Bonita Springs, FL	2.0	2.5	1119	$4,600	$4.11	23d	1	0.59mi
10710 Rosemary Dr #712 Bonita Springs, FL	1.0	1.0	984	$1,750	$1.78	23d	1	0.70mi
26603 Bonita Fairways Blvd Bonita Springs, FL	3.0	2.0	1308	$4,500	$3.44	15d	1	0.73mi
26282 Queen Mary Ln Bonita Springs, FL	2.0	2.0	1236	$1,800	$1.46	23d	1	0.83mi
26239 Bonita Fairways Cir Bonita Springs, FL	2.0	2.0	1088	$2,500	$2.30	23d	1	0.88mi
25925 Pebblecreek Dr Bonita Springs, FL	2.0	2.0	1498	$3,400	$2.27	21d	1	0.92mi
26680 Bonita Fairways Blvd #201 Bonita Springs, FL	2.0	2.0	1216	$4,500	$3.70	23d	1	0.94mi
26760 Silverado East Dr Bonita Springs, FL	3.0	2.5	1278	$2,700	$2.11	3d	1	0.94mi
10000 Maddox Ln #125 Bonita Springs, FL	2.0	2.0	1129	$4,000	$3.54	23d	1	0.95mi
26691 Rosewood Pointe Dr #101 Bonita Springs, FL	2.0	2.0	1216	$3,600	$2.96	23d	1	0.97mi
10030 Maddox Ln #206 Bonita Springs, FL	3.0	2.0	1327	$2,150	$1.62	21d	1	0.98mi
26700 Rosewood Pointe Dr Bonita Springs, FL	2.0	2.0	1199	$2,200	$1.83	3d	2	0.98mi
10010 Maddox Ln #318 Bonita Springs, FL	2.0	2.0	1224	$1,550	$1.27	23d	1	0.99mi
10020 Maddox Ln #213 Bonita Springs, FL	2.0	2.0	1224	$2,350	$1.92	21d	1	0.99mi
26660 Rosewood Pointe Dr #203 Bonita Springs, FL	2.0	2.0	1190	$3,500	$2.94	23d	1	1.03mi
10041 Maddox Ln #203 Bonita Springs, FL	3.0	2.0	1083	$5,000	$4.62	23d	1	1.07mi
10041 Maddox Ln Bonita Springs, FL	2.0	2.0	1213	$5,000	$4.12	23d	1	1.07mi
26197 Palace Ln #102 Bonita Springs, FL	2.0	2.0	1279	$4,200	$3.28	23d	1	1.16mi
26610 Rosewood Pointe Dr #308 Bonita Springs, FL	2.0	2.0	1231	$2,100	$1.71	3d	1	1.18mi
26589-610 Rosewood Pointe Dr Unit A 301 Bonita Springs, FL	2.0	2.0	986	$3,500	$3.55	23d	1	1.18mi
10897 Goodwin St #899 Bonita Springs, FL	2.0	1.0	770	$1,950	$2.53	23d	1	1.20mi
26600 Rosewood Pointe Dr Unit B-101 Bonita Springs, FL	2.0	2.0	983	$2,200	$2.24	3d	1	1.20mi
26600 Rosewood Pointe Dr Unit 102 Bonita Springs, FL	1.0	2.0	833	$2,900	$3.48	3d	1	1.20mi
9250 Highland Woods Blvd #2308 Bonita Springs, FL	2.0	2.0	1100	$1,995	$1.81	23d	1	1.21mi
9250 Highland Woods Blvd #2308 Bonita Springs, FL	2.0	2.0	1100	$1,995	$1.81	3d	1	1.21mi
27083 Matheson Ave #208 Bonita Springs, FL	2.0	2.0	970	$1,750	$1.80	23d	1	1.22mi
9450 Highland Woods Blvd #6203 Bonita Springs, FL	2.0	2.0	1100	$6,000	$5.45	14d	1	1.22mi
27250 Shriver Ave Unit 1073504P Bonita Springs, FL	2.0	1.0	661	$4,275	$6.46	3d	2	1.25mi
9200 Highland Woods Blvd Bonita Springs, FL	2.0	2.0	1083	$4,050	$3.74	15d	3	1.26mi
27249 Pullen Ave #5 Bonita Springs, FL	2.0	2.0	956	$1,950	$2.04	23d	1	1.26mi
27249 Pullen Ave #4 Bonita Springs, FL	2.0	2.5	956	$3,200	$3.35	23d	1	1.26mi
9500 Highland Woods Blvd #207 Bonita Springs, FL	2.0	2.0	1162	$1,600	$1.38	23d	1	1.26mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-17
   days on market $234,400 Active 116 DOM
2. 2026-06-16
   days on market $234,400 Active 115 DOM
3. 2026-06-15
   days on market $234,400 Active 114 DOM
4. 2026-06-13
   days on market $234,400 Active 112 DOM
5. 2026-06-10
   days on market $234,400 Active 109 DOM
6. 2026-06-09
   days on market $234,400 Active 108 DOM
7. 2026-06-07
   days on market $234,400 Active 106 DOM
8. 2026-06-02
   days on market $234,400 Active 101 DOM
9. 2026-06-01
   days on market $234,400 Active 100 DOM
10. 2026-06-01
    days on market $234,400 Active 99 DOM
11. 2026-04-25
    price $234,400
12. 2026-03-27
    price $249,900
13. 2026-03-21
    price $254,900
14. 2026-03-04
    price $259,900
15. 2026-02-21
    listed $269,900 Active
16. 2023-04-15
    listed $259,000 648-char remark

    Show marketing remark (648 chars)

    This 2-2 Double Wide is Located in the Sought After "Bonita Saint James Village" Located less then 5 Miles to the Sandy Beaches' of the Gulf of Mexico. a little quaint 55+ community right Smack in the Center of all That Bonita Springs Has to offer. Being Sold Furnished and Tastefully Decorated. Grab your toothbrush, pack a Bag, and start living the Florida lifestyle. watch a Sunset from your very own piece of Paradise, enjoy a cocktail with friends on the lovely open patio this home offers, how about a hand of cards in the perfect sized Florida room. Options are Endless. Let's Make this home yours before it becomes someone else's.

17. 2023-04-14
    soldstatus $248,000 648-char remark

    Show marketing remark (648 chars)

    This 2-2 Double Wide is Located in the Sought After "Bonita Saint James Village" Located less then 5 Miles to the Sandy Beaches' of the Gulf of Mexico. a little quaint 55+ community right Smack in the Center of all That Bonita Springs Has to offer. Being Sold Furnished and Tastefully Decorated. Grab your toothbrush, pack a Bag, and start living the Florida lifestyle. watch a Sunset from your very own piece of Paradise, enjoy a cocktail with friends on the lovely open patio this home offers, how about a hand of cards in the perfect sized Florida room. Options are Endless. Let's Make this home yours before it becomes someone else's.

ⓘ 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: $1,779 · $148/mo
• Projected year-2 tax: $1,946 · $162/mo
• Expected delta: +$167/yr (+$14/mo · 9.4%)

ⓘ 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) · 47% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $32,037
• − Mortgage interest: −$13,130
• − Property taxes: −$1,779
• − Insurance: −$1,172
• − Repairs & maintenance: −$2,563
• − Management: −$2,563
• − HOA: −$1,140
• − Depreciation: −$6,819
• Taxable income: $2,872
• Est. tax owed @ 24.0%: −$689
• After-tax cash flow: $5,779/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

-5.5% since first listed

7 events — show timeline

• 2026-04-25 Price Changed $234,400 BEARMLS
• 2026-03-27 Price Changed $249,900 BEARMLS
• 2026-03-21 Price Changed $254,900 BEARMLS
• 2026-03-04 Price Changed $259,900 BEARMLS
• 2026-02-21 Listed $269,900 BEARMLS
• 2023-04-15 Listed $259,000 BEARMLS
• 2023-04-14 Sold (MLS) $248,000 BEARMLS

Property tax history

+11.8%/yr

Latest (2025): $1,779 · +2.2% YoY. Source: county tax records.