19418 Tarpon Woods Ct · North Fort Myers, FL 33903

$20,000

2 bd · 2.0 ba · 1,296 sqft · SingleFamily · 13 Days on market

Built 1988 ↓ 13% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Exceptional Value. Seller is Moving Due to Job Relocation Discover the ultimate Florida lifestyle in this beautifully updated, move-in-ready 2-bedroom, 2-bathroom manufactured home located in the highly desirable Pine Lakes Country Club age-qualified gated community. Boasting 1,496 sq. ft. of pristine living space (includes a 200 sq. ft. conditioned flex room), this partially furnished home features premium vinyl flooring throughout and a modern, cohesive design. Home Highlights: Gourmet Updates: Fully updated kitchen and bathrooms, both featuring sleek walk-in showers. Versatile Flex Space: The enclosed lanai is equipped with a mini-split AC and a closet perfect for a 3rd bedroom, home

Key facts

• Extended front porch
• Private yard space
• Updated bathrooms

Tags

• UPDATED KITCHEN
• UPDATED BATHROOMS
• WALK-IN SHOWERS
• ENCLOSED LANAI
• PRIVATE YARD SPACE
• EXTENDED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $20k).
• Cap rate 93.2% 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; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 42% of the median local income ($57k/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 $138 of loan paydown is wiped out by about $600 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $20,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
3. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
4. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
5. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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 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: 10.04% ✓
• Cap rate: 93.20%
• Cash-on-cash: 310.38%
• DSCR: 14.81
• GRM: 0.8

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: —
• Equity multiple: 15.85×
• Total profit: $83,156
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 31.10×
• Total profit: $168,576
• Equity at exit: $1,729

Cash invested: $5,600 (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: 0.8×

Monthly cashflow live

• Estimated rent: $2,008 high
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $1,448

Break-even live

Break-even rent $175

Max offer price $20,000

Occupancy floor 23%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10401 Circle Pine Rd North Fort Myers, FL	2.0	2.0	1294	$3,000	$2.32	23d	1	0.07mi
19621 N Tamiami Trl North Fort Myers, FL	3.0	2.0	1205	$1,300	$1.08	23d	1	0.14mi
19477 Bermuda Ct North Fort Myers, FL	3.0	2.0	1460	$1,499	$1.03	1d	1	0.16mi
19421 Bermuda Ct North Fort Myers, FL	3.0	2.0	1198	$1,499	$1.25	1d	1	0.19mi
19414 Bermuda Ct North Fort Myers, FL	3.0	2.0	1251	$1,499	$1.20	1d	1	0.21mi
19152 Meadowbrook Ct North Fort Myers, FL	3.0	2.0	1251	$1,499	$1.20	1d	1	0.44mi
20038 Fiddlewood Ave North Fort Myers, FL	3.0	2.0	1519	$1,999	$1.32	19d	1	0.71mi
20056 Sweetbay Dr North Fort Myers, FL	3.0	2.0	1672	$4,000	$2.39	23d	1	0.86mi
1701 NE 44th Ter Cape Coral, FL	3.0	2.0	1147	$1,800	$1.57	13d	1	0.97mi
1701 NE 44th Ter Cape Coral, FL	3.0	2.0	1147	$1,800	$1.57	15d	1	0.97mi
4215 E Gator Cir Cape Coral, FL	3.0	2.0	1385	$1,725	$1.25	3d	1	1.00mi
4036 Avenue Del Tura North Fort Myers, FL	2.0	2.0	1568	$1,950	$1.24	23d	1	1.04mi
4421 NE 15th Pl Cape Coral, FL	3.0	2.0	1240	$2,000	$1.61	23d	1	1.06mi
20559 Long Pond Rd North Fort Myers, FL	3.0	2.0	1805	$2,295	$1.27	23d	1	1.07mi
2117 NE 40th St Cape Coral, FL	3.0	3.0	1776	$2,100	$1.18	15d	1	1.16mi
1900 Corona del Sire Dr North Fort Myers, FL	2.0	2.0	1449	$2,400	$1.66	23d	1	1.26mi
4125 NE 15th Pl Cape Coral, FL	3.0	2.0	1556	$2,000	$1.29	23d	1	1.27mi
1670 Palo Duro Blvd North Fort Myers, FL	2.0	2.0	1604	$2,700	$1.68	3d	1	1.28mi
2130 Rio Nuevo Dr Unit 1546442P North Fort Myers, FL	2.0	2.0	1248	$4,682	$3.75	14d	1	1.38mi
20919 Villareal Way North Fort Myers, FL	2.0	2.0	1428	$4,000	$2.80	23d	1	1.41mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	21d	1	1.46mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	15d	1	1.46mi

Listing history 7 events

1. 2026-06-17
   days on market $20,000 Active 13 DOM
2. 2026-06-16
   days on market $20,000 Active 12 DOM
3. 2026-06-16
   days on market $20,000 Active 11 DOM
4. 2026-06-13
   days on market $20,000 Active 9 DOM
5. 2026-06-09
   days on market $20,000 Active 5 DOM
6. 2026-06-07
   remarks 699-char remark
7. 2026-06-07
   listed $20,000 Active 3 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: $24,101
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$100
• − Repairs & maintenance: −$1,928
• − Management: −$1,928
• − Depreciation: −$582
• Taxable income: $18,143
• Est. tax owed @ 24.0%: −$4,354
• After-tax cash flow: $13,027/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

-13.0% since first listed

2 events — show timeline

• 2026-06-06 Price Changed $20,000 ForSaleByOwner.com
• 2026-06-04 Listed $23,000 ForSaleByOwner.com