9288 Baron Rd · Bonita Springs, FL 34135

$159,000

2 bd · 2.0 ba · 1,264 sqft · Manufactured public records · 118 Days on market

Built 1977 4,791 sqft lot Est $248k · 36% under

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

This 2 bedroom, 2 bath home located in Imperial Harbor, a 55+ community, offers a functional layout with multiple living spaces, including a living room, separate family room, and dedicated dining area. The kitchen provides ample cabinetry and counter space and features a convenient pass-through window to the family room. The dining room includes a built-in cabinet for additional storage and display. The master bedroom has a private door leading to the side of the home. A door from the dining room opens directly to the screened lanai, which features new screening and includes a utility room for added convenience. The carport provides covered parking with direct access into the family room.

Key facts

• Ample cabinetry
• Pass-through window
• Built-in cabinet

Tags

• FUNCTIONAL LAYOUT
• MULTIPLE LIVING SPACES
• AMPLE CABINETRY
• PASS-THROUGH WINDOW
• BUILT-IN CABINET
• PRIVATE DOOR

Property features AI

Finance

• Other: Zoning: MH-1; Lot unit 10, subdivision B1; Total lot area approximately 0.11 acre (1921 sq ft); Deeded restrictions; Surveyed lot dimensions
• HOA & community: No HOA maintenance or community amenities; Community type: Mobile/Manufactured, Non-Gated

Exterior

• Parking: Attached 1-car carport
• Utilities: Central water; Central sewer; Cable available
• Home design: Manufactured residential home; Single-story; Rear exposure to the west; Located in the Imperial Harbor development
• Construction: Manufactured construction; Built in 1977
• Exterior features: Aluminum siding exterior; Roof over; Windows: see seller remarks; Landscaped area view; Paved public road access; Regular lot

Interior

• Kitchen: Range; Microwave; Refrigerator/Icemaker; Dishwasher not listed
• Bedrooms: 2 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 2 full bathrooms; Master bathroom with shower (no tub)
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Dining area combined with living room; Screened lanai/porch; Unfurnished; See seller remarks for additional interior details
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $159k.

Deal economics

• At list price, monthly cash flow is $782 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $159k).
• Recommended offer: $145k (9.0% below list) — sets the bar for market timing.
• Cap rate 15.4% 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 38% 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 $1k of loan paydown is wiped out by about $5k 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 $45k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 118 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y ago; this cycle's ask has dropped $14k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.84% ✓
• Cap rate: 15.41%
• Cash-on-cash: 32.58%
• DSCR: 2.45
• GRM: 4.5

CMA / ARV

• ARV (on-the-fly): $247,744
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26057 Kings Rd	0.08mi	2/2.0	1,362 (+8%)	18mo	$155,000	$114	68
26256 Imperial Harbor Blvd	0.32mi	2/2.0	1,320 (+4%)	12mo	$225,000	$170	68
26377 Colony Rd	0.44mi	2/2.0	1,273 (+1%)	19mo	$249,000	$196	62
26751 Sammoset Way	0.73mi	2/2.0	1,350 (+7%)	16mo	$315,000	$233	41

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: 9.4%
• Equity multiple: 1.35×
• Total profit: $15,778
• Equity at exit: $23,707

10-year hold

• IRR: 15.3%
• Equity multiple: 2.03×
• Total profit: $45,985
• Equity at exit: $13,747

Cash invested: $44,520 (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: 4.5×

Monthly cashflow live

• Estimated rent: $2,927 high
• Mortgage (P&I): −$834
• Tax from tax record: −$204 /mo · $2,443/yr
• Insurance: −$66
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$615
• Net cashflow: $782

Break-even live

Break-even rent $1,937

Max offer price $159,000

Occupancy floor 68%

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25925 Pebblecreek Dr Bonita Springs, FL	2.0	2.0	1498	$3,400	$2.27	21d	1	0.30mi
9250 Highland Woods Blvd #2308 Bonita Springs, FL	2.0	2.0	1100	$1,995	$1.81	23d	1	0.42mi
9250 Highland Woods Blvd #2308 Bonita Springs, FL	2.0	2.0	1100	$1,995	$1.81	3d	1	0.42mi
26282 Queen Mary Ln Bonita Springs, FL	2.0	2.0	1236	$1,800	$1.46	23d	1	0.43mi
9200 Highland Woods Blvd Bonita Springs, FL	2.0	2.0	1083	$4,050	$3.74	15d	3	0.45mi
26390 Coco Cay Cir #101 Bonita Springs, FL	2.0	2.5	1498	$2,700	$1.80	23d	1	0.49mi
26680 Bonita Fairways Blvd #201 Bonita Springs, FL	2.0	2.0	1216	$4,500	$3.70	23d	1	0.52mi
26691 Rosewood Pointe Dr #101 Bonita Springs, FL	2.0	2.0	1216	$3,600	$2.96	23d	1	0.53mi
26603 Bonita Fairways Blvd Bonita Springs, FL	3.0	2.0	1308	$4,500	$3.44	15d	1	0.54mi
9304 Lake Abby Ln Bonita Springs, FL	3.0	2.0	1631	$3,700	$2.27	3d	1	0.54mi
26331 Coco Cay Cir Unit 103 Bonita Springs, FL	2.0	2.5	1520	$2,100	$1.38	21d	1	0.55mi
26660 Rosewood Pointe Dr #203 Bonita Springs, FL	2.0	2.0	1190	$3,500	$2.94	23d	1	0.56mi
26310 Coco Cay Cir Unit 201 Bonita Springs, FL	3.0	3.5	1840	$3,195	$1.74	23d	1	0.57mi
26700 Rosewood Pointe Dr Bonita Springs, FL	2.0	2.0	1199	$2,200	$1.83	3d	2	0.59mi
9450 Highland Woods Blvd #6203 Bonita Springs, FL	2.0	2.0	1100	$6,000	$5.45	14d	1	0.61mi
9510 Village View Blvd Bonita Springs, FL	3.0	2.0	1587	$3,700	$2.33	23d	1	0.62mi
25735 Lake Amelia Way #105 Bonita Springs, FL	2.0	2.0	1230	$1,500	$1.22	23d	1	0.63mi
26240 Bonita Fairways Blvd Bonita Springs, FL	3.0	2.5	1704	$2,999	$1.76	21d	1	0.65mi
26610 Rosewood Pointe Dr #308 Bonita Springs, FL	2.0	2.0	1231	$2,100	$1.71	3d	1	0.65mi
25727 Lake Amelia Way #105 Bonita Springs, FL	2.0	2.0	1230	$2,200	$1.79	23d	1	0.66mi
9500 Highland Woods Blvd #207 Bonita Springs, FL	2.0	2.0	1162	$1,600	$1.38	23d	1	0.66mi
26589-610 Rosewood Pointe Dr Unit A 301 Bonita Springs, FL	2.0	2.0	986	$3,500	$3.55	23d	1	0.67mi
26600 Rosewood Pointe Dr Unit B-101 Bonita Springs, FL	2.0	2.0	983	$2,200	$2.24	3d	1	0.69mi
26600 Rosewood Pointe Dr Unit B-107 Bonita Springs, FL	3.0	2.0	1616	$6,000	$3.71	23d	1	0.69mi
9371 Lake Abby Ln Bonita Springs, FL	3.0	2.0	1796	$2,850	$1.59	23d	1	0.71mi
26175 Bonita Fairways Blvd Bonita Springs, FL	3.0	2.0	1308	$3,000	$2.29	15d	1	0.71mi
25806 Cockleshell Dr #314 Bonita Springs, FL	2.0	2.0	975	$1,800	$1.85	23d	1	0.72mi
26991 Clarkston Dr #8106 Bonita Springs, FL	2.0	2.0	1556	$7,875	$5.06	23d	1	0.74mi
26239 Bonita Fairways Cir Bonita Springs, FL	2.0	2.0	1088	$2,500	$2.30	23d	1	0.80mi
26751 Clarkston Dr #102 Bonita Springs, FL	2.0	2.0	1256	$6,500	$5.18	23d	1	0.81mi
25480 Cockleshell Dr #1005 Bonita Springs, FL	2.0	2.5	1119	$4,600	$4.11	23d	1	0.84mi
25480 Cockleshell Dr #1005 Bonita Springs, FL	2.0	2.5	1129	$4,500	$3.99	21d	1	0.84mi
9124 Brendan Preserve Ct Bonita Springs, FL	3.0	2.0	1699	$2,950	$1.74	23d	1	0.86mi
10328 Windley Key Ter Bonita Springs, FL	3.0	2.0	1400	$2,600	$1.86	14d	1	0.90mi
9192 Brendan Preserve Ct Bonita Springs, FL	3.0	2.5	1681	$6,500	$3.87	23d	1	0.91mi
8940 Colonnades Ct E Bonita Springs, FL	2.0	2.0	1013	$2,675	$2.64	23d	2	0.93mi
8940 Colonnades Ct E Bonita Springs, FL	2.0	2.0	1013	$2,575	$2.54	10d	3	0.93mi
8930 Colonnades Ct E #625 Bonita Springs, FL	2.0	2.0	1013	$3,000	$2.96	10d	1	0.96mi
8930 Colonnades Ct E Bonita Springs, FL	2.0	2.0	1013	$2,325	$2.30	15d	2	0.96mi
8870 Colonnades Ct W #337 Bonita Springs, FL	2.0	2.0	997	$3,100	$3.11	3d	1	0.98mi

Listing history 14 events

1. 2026-06-17
   days on market $159,000 Active 118 DOM
2. 2026-06-16
   days on market $159,000 Active 117 DOM
3. 2026-06-15
   days on market $159,000 Active 116 DOM
4. 2026-06-13
   days on market $159,000 Active 114 DOM
5. 2026-06-10
   days on market $159,000 Active 111 DOM
6. 2026-06-09
   days on market $159,000 Active 110 DOM
7. 2026-06-07
   days on market $159,000 Active 108 DOM
8. 2026-06-02
   days on market $159,000 Active 103 DOM
9. 2026-06-01
   days on market $159,000 Active 102 DOM
10. 2026-06-01
    days on market $159,000 Active 101 DOM
11. 2026-04-07
    price $159,000
12. 2026-02-19
    listed $173,000 Active
13. 2008-05-28
    listed $103,000
14. 2005-12-21
    soldstatus $130,000

ⓘ 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: $2,443 · $204/mo
• Projected year-2 tax: $2,443 · $204/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone AE · 97% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $35,123
• − Mortgage interest: −$8,906
• − Property taxes: −$2,443
• − Insurance: −$5,914
• − Repairs & maintenance: −$2,810
• − Management: −$2,810
• − Depreciation: −$4,625
• Taxable income: $7,615
• Est. tax owed @ 24.0%: −$1,828
• After-tax cash flow: $7,557/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

+22.3% since first listed

4 events — show timeline

• 2026-04-07 Price Changed $159,000 BEARMLS
• 2026-02-19 Listed $173,000 BEARMLS
• 2008-05-28 Listed $103,000 NAPLESMLS
• 2005-12-21 Sold (Public Records) $130,000 Public Records

Property tax history

+7.3%/yr

Latest (2025): $2,443 · +9.2% YoY. Source: county tax records.