3159 Pluto Cir · North Fort Myers, FL 33903

$92,500

2 bd · 2.0 ba · 912 sqft · Condo public records · 43 Days on market

Built 1982 $214/mo HOA · 13% of rent

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Come make this home yours. Great double wide in much desired Tamiami Village. Come and enjoy this 55 & older, pet friendly community. This unit has a PARK CERTIFICATE, $27,000 value. Huge spacious rooms, WALK IN CLOSET, great CLEAN baths. Lowest maintenance fee around. $214 per month. Take advantage of this FULLY FURNISHED unit. Enjoy this LOW priced home, perfect for snowbirds or full time living. Close to shopping, dining, golf, beaches!!!.

Key facts

• 5,619 sq ft lot
• 2 parking spots
• Community pool

Property features AI

Finance

• Financial info: Pets allowed conditionally (call) — maximum 2 pets, maximum 25 lb each
• HOA & community: Homeowners association with monthly fee; Association fee includes management, internet, legal/accounting, street lights, and trash; Community amenities: billiard room, billiards, fitness center, library, pool, shuffleboard court, sauna, spa/hot tub, dog park; Senior community; 719 units in community; Street lights in community

Exterior

• Parking: Attached carport; 2 covered/carport spaces
• Utilities: Public water; Public sewer; Cable available; High-speed internet available
• Home design: Manufactured home; Aluminum siding; Single-story; Entry at level 1; South-facing
• Construction: Manufactured construction; Aluminum siding; Roof over
• Exterior features: Patio; Lanai; Porch; Screened porch; Community pool

Interior

• Kitchen: Electric cooktop; Microwave; Refrigerator; Freezer; Dishwasher
• Bedrooms: Screened porch (room type listed)
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling
• Interior features: Furnished; Living/Dining room; Shower only with separate shower; Cable TV; High-speed internet available; Double-hung windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $92k.

Deal economics

• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $92k).
• Recommended offer: $90k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.9% 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.
• Zoned schools: Diplomat Elementary School (math 67% / reading 60%, grade B, #564 of 2,144 statewide, top 27%, 1,069 students, 56% FRL); Mariner Middle School (math 50% / reading 47%, grade C-, #274 of 571 statewide, top 50%, 1,001 students, 53% FRL); Ida S. Baker High School (math 44% / reading 47%, grade D-, #223 of 667 statewide, top 34%, 1,933 students, 39% FRL).
• Market conditions: Rents soft (-1.9%/yr); 477 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 34% 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 $640 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 43 days — a 3% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

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; moderate wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,725 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 1.73% ✓
• Cap rate: 12.93%
• Cash-on-cash: 23.69%
• DSCR: 2.05
• GRM: 4.8

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: -15.9%
• Equity multiple: 0.46×
• Total profit: $-13,927
• Equity at exit: $13,792

10-year hold

• IRR: -22.1%
• Equity multiple: 0.16×
• Total profit: $-21,872
• Equity at exit: $7,998

Cash invested: $25,900 (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: 477
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,603 high
• Mortgage (P&I): −$485
• Tax from tax record: −$17 /mo · $206/yr
• Insurance: −$39
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$214
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $85

Break-even live

Break-even rent $1,495

Max offer price $92,500

Occupancy floor 90%

Sensitivity live

Price	-10% $137	-5% $111	+0% $85	+5% $59	+10% $32
Rent	-10% $-42	-5% $22	+0% $85	+5% $148	+10% $211
Rate	-1.0pp $131	-0.5pp $108	base $85	+0.5pp $61	+1.0pp $36

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: $23,125
• Closing costs: $2,775
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	16d	1	0.22mi
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	5d	1	0.22mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	25d	1	0.47mi
571 Sunrise Ln North Fort Myers, FL	2.0	2.0	1004	$1,400	$1.39	25d	1	0.67mi
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	25d	1	0.84mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,371	$2.43	3d	27	0.96mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	25d	1	1.05mi
2700 Diplomat Pkwy E Cape Coral, FL	1.0–3.0	1.0–2.0	1116	$2,382	$2.13	5d	41	1.09mi
538 State St North Fort Myers, FL	3.0	1.5	1000	$1,199	$1.20	25d	1	1.12mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	5d	1	1.21mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	25d	1	1.22mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	25d	1	1.24mi
446 San Bernardino St North Fort Myers, FL	2.0	1.0	1104	$1,590	$1.44	12d	1	1.29mi
2095 Eloise Cir North Fort Myers, FL	2.0	1.0	840	$1,295	$1.54	25d	1	1.30mi
2027 Eloise Cir North Fort Myers, FL	2.0	1.0	822	$1,300	$1.58	5d	1	1.31mi
16363 Teresa Ln North Fort Myers, FL	2.0	1.0	1000	$1,000	$1.00	25d	1	1.36mi
3050 Steeple Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1003	$1,668	$1.66	4d	27	1.38mi
3953 Pomodoro Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1044	$1,462	$1.40	16d	9	1.39mi
3940 Villa Del Mar CIR Cape Coral, FL	1.0–3.0	1.0–2.0	1051	$2,116	$2.01	3d	21	1.45mi

HOA detail condo

• Monthly dues: $214 · $2,568/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-04-14
   listed $92,500 Active
2. 1996-07-01
   soldstatus $4,928,000
3. 1996-07-01
   soldstatus $4,928,000

ⓘ 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: $206 · $17/mo
• Projected year-2 tax: $768 · $64/mo
• Expected delta: +$561/yr (+$47/mo · 271.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,233
• − Mortgage interest: −$5,181
• − Property taxes: −$206
• − Insurance: −$5,581
• − Repairs & maintenance: −$1,539
• − Management: −$1,539
• − HOA: −$2,568
• − Depreciation: −$2,691
• Taxable loss: −$72
• Est. tax savings @ 24.0%: +$17
• After-tax cash flow: $1,035/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

-98.1% since first listed

3 events — show timeline

• 2026-04-14 Listed $92,500 FORTMLS
• 1996-07-01 Sold (Public Records) $4,928,000 Public Records
• 1996-07-01 Sold (Public Records) $4,928,000 Public Records

Property tax history

+2.4%/yr

Latest (2025): $206 · +8.7% YoY. Source: county tax records.