16175 John Morris Road Site 14 · Iona, FL 33908

$109,995

1 bd · 1.0 ba · 490 sqft · Manufactured · 174 Days on market

Manufactured home Built 2026 Good condition $224/sqft · 21% below area Est $140k · 21% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.9/30.0
• Schools +4.7/10.0
• DSCR +4.6/10.0
• 1% rule +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Appreciation +2.5/10.0
• Rent growth +2.2/5.0
• Manufactured-home adj. -4.5

Listing remarks

This Angelfish model home is located within Sun Retreats Fort Myers Beach. The home is move in ready to include appliances, upgraded counter tops and beautiful flooring. Sun Retreats Fort Myers Beach (formerly The Groves) is a highly desirable All Age Community that is conveniently located between Fort Myers Beach and the entrance to Sanibel Island. This is an All-Age Community that would like to offer you, your own little piece of paradise. The community is close to Sanibel, Bunche and Fort Myers Beaches.

Key facts

• Beautiful flooring
• Close to sanibel
• Move in ready

Tags

• MOVE IN READY
• UPGRADED COUNTER TOPS
• BEAUTIFUL FLOORING
• CONVENIENTLY LOCATED
• CLOSE TO SANIBEL
• CLOSE TO BUNCHE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $33 ($394/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $100k (8.7% below list).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 2.7% 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.

Location & tenants

• 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: 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.
• Zoned schools: Heights Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 1,109 students, 38% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL).
• Market conditions: Rents soft (-1.2%/yr); 1606 active listings in the ZIP; solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent is only 16% of the median local income ($75k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k 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 174 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Recommended offer $96,795 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 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. 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?
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: 0.91% ✗
• Cap rate: 6.65%
• Cash-on-cash: 1.28%
• DSCR: 1.06
• GRM: 9.1

CMA / ARV

• ARV (median comp): $140,000
• List price: $109,995
• Delta: -21.43%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16300 Falstaff Ln #427	1.19mi	2/1.5 (+1)	504 (+3%)	11mo	$165,000	$327	44
11630 Ariana Dr	1.30mi	2/1.5 (+1)	543 (+11%)	2mo	$140,000	$258	38
19681 Summerlin Rd #482	1.09mi	1/1.5	403 (-18%)	0mo	$120,000	$298	38
11701 Oakdale Dr #467	1.21mi	2/1.5 (+1)	513 (+5%)	28mo	$170,000	$331	30
19681 Summerlin Rd #626	1.03mi	1/1.0	415 (-15%)	19mo	$130,000	$313	24

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: -17.7%
• Equity multiple: 0.39×
• Total profit: $-18,660
• Equity at exit: $16,401

10-year hold

• IRR: -16.9%
• Equity multiple: 0.19×
• Total profit: $-24,864
• Equity at exit: $9,510

Cash invested: $30,799 (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 →

Active competition Active MLS

• For sale now: 11 active
• Median asking: $115,995 ($237/sqft)
• Median days on market: 313 d
• This list price: 18% of active listings are priced below it
• ARV vs active asking: +20.7% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 33908

• Home prices YoY: -32.8%
• Rents YoY: -1.2%
• Active inventory: 1606
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,004 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$137 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $33

Break-even live

Break-even rent $962

Max offer price $109,995

Occupancy floor 92%

Sensitivity live

Price	-10% $109	-5% $71	+0% $33	+5% $-5	+10% $-43
Rent	-10% $-46	-5% $-7	+0% $33	+5% $72	+10% $112
Rate	-1.0pp $88	-0.5pp $61	base $33	+0.5pp $4	+1.0pp $-25

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: $27,499
• Closing costs: $3,300
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Living area approximately 490
• Financial info: Offered as a spec unitList price $109,995

Exterior

• Home design: Manufactured homeSingle-story
• Construction: Built within recent years (spec inventory)
• Exterior features: Located on a manufactured home site in a community setting

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Interior features: Open layout in a compact living space

Listing history 50 events

1. 2026-09-24
   days on market $109,995 Active 174 DOM
2. 2026-09-23
   days on market $109,995 Active 173 DOM
3. 2026-09-22
   days on market $109,995 Active 172 DOM
4. 2026-09-21
   days on market $109,995 Active 171 DOM
5. 2026-09-17
   days on market $109,995 Active 167 DOM
6. 2026-09-13
   days on market $109,995 Active 163 DOM
7. 2026-09-13
   days on market $109,995 Active 162 DOM
8. 2026-09-11
   days on market $109,995 Active 161 DOM
9. 2026-09-05
   days on market $109,995 Active 155 DOM
10. 2026-09-04
    days on market $109,995 Active 154 DOM
11. 2026-08-31
    days on market $109,995 Active 150 DOM
12. 2026-08-28
    days on market $109,995 Active 147 DOM
13. 2026-08-26
    days on market $109,995 Active 145 DOM
14. 2026-08-24
    days on market $109,995 Active 143 DOM
15. 2026-08-23
    days on market $109,995 Active 142 DOM
16. 2026-08-21
    days on market $109,995 Active 140 DOM
17. 2026-08-20
    days on market $109,995 Active 139 DOM
18. 2026-08-19
    days on market $109,995 Active 138 DOM
19. 2026-08-18
    days on market $109,995 Active 137 DOM
20. 2026-08-16
    days on market $109,995 Active 135 DOM
21. 2026-08-15
    days on market $109,995 Active 134 DOM
22. 2026-08-13
    days on market $109,995 Active 132 DOM
23. 2026-08-09
    days on market $109,995 Active 128 DOM
24. 2026-08-06
    days on market $109,995 Active 125 DOM
25. 2026-08-05
    days on market $109,995 Active 124 DOM
26. 2026-07-26
    days on market $109,995 Active 114 DOM
27. 2026-07-24
    days on market $109,995 Active 112 DOM
28. 2026-07-23
    days on market $109,995 Active 111 DOM
29. 2026-07-22
    days on market $109,995 Active 110 DOM
30. 2026-07-21
    days on market $109,995 Active 109 DOM
31. 2026-07-18
    days on market $109,995 Active 106 DOM
32. 2026-07-18
    days on market $109,995 Active 105 DOM
33. 2026-07-16
    days on market $109,995 Active 104 DOM
34. 2026-07-15
    days on market $109,995 Active 103 DOM
35. 2026-07-13
    days on market $109,995 Active 101 DOM
36. 2026-07-13
    days on market $109,995 Active 100 DOM
37. 2026-07-12
    days on market $109,995 Active 99 DOM
38. 2026-07-10
    days on market $109,995 Active 98 DOM
39. 2026-07-10
    days on market $109,995 Active 97 DOM
40. 2026-07-07
    days on market $109,995 Active 95 DOM
41. 2026-07-06
    days on market $109,995 Active 94 DOM
42. 2026-07-05
    days on market $109,995 Active 93 DOM
43. 2026-07-02
    days on market $109,995 Active 90 DOM
44. 2026-07-01
    days on market $109,995 Active 89 DOM
45. 2026-06-30
    days on market $109,995 Active 88 DOM
46. 2026-06-29
    days on market $109,995 Active 87 DOM
47. 2026-06-28
    days on market $109,995 Active 86 DOM
48. 2026-06-25
    days on market $109,995 Active 82 DOM
49. 2026-06-22
    days on market $109,995 Active 79 DOM
50. 2026-06-17
    days on market $109,995 Active 75 DOM

ⓘ 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: $12,045
• − Mortgage interest: −$6,161
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$964
• − Management: −$964
• − Depreciation: −$3,200
• Taxable loss: −$1,443
• Est. tax savings @ 24.0%: +$346
• After-tax cash flow: $740/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $2,450–$7,350 screening

This move-in ready manufactured home in Sun Retreats Fort Myers Beach is in excellent condition with modern finishes and a desirable location.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace light fixtures with energy-efficient LED — Saves on energy costs and improves curb appeal ↑
• Both Install smart home automation system — Improves convenience and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 47/100

Zoned Schools

Elementary Colonial Elementary School F FL #1,744/2,144 Nat'l #24,299/41,679 Middle Three Oaks Middle School B+ FL #111/571 Nat'l #1,453/14,009 High Cypress Lake High School D- FL #228/667 Nat'l #6,809/17,239

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

B Composite livability gradescore 72/100

Livability — Iona

• Score: 72/100
• State rank: #359
• US rank: #6253

Category grades

Amenities F Commute F Cost of living B Crime A+ Employment C+ Housing A Health & safety A User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iona, FL
• County: Lee County · 871,946 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 37,423
• Household income: $75,396
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 17% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 1% Other Indo-European 1%

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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: ▼ -102.22%
• Current HPI: 209.7595
• Rent YoY: ▼ -1.18%
• Metro: Cape Coral-Fort Myers, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

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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

Property features AI

Finance

• Other: Living area approximately 490
• Financial info: Offered as a spec unitList price $109,995

Exterior

• Home design: Manufactured homeSingle-story
• Construction: Built within recent years (spec inventory)
• Exterior features: Located on a manufactured home site in a community setting

Interior

• Bedrooms: 1 bedroom
• Bathrooms: 1 full bathroom
• Interior features: Open layout in a compact living space