28180 Pine Haven Way #45 · Bonita Springs, FL 34135

$215,000

2 bd · 2.0 ba · 884 sqft · Condo public records · 103 Days on market

Built 1984 $367/mo HOA · 17% of rent

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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 +11.6/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• DSCR +3.4/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MOVE RIGHT IN TO THIS BEAUTIFULLY RENOVATED CONDO. Enjoy natural views overlooking the pond from your screened lanai which includes a storage room. You'll love the gorgeous new Samsung stainless kitchen appliances, stainless sink and faucet and new garbage disposal. The entire condo has been painted plus new screens and window treatments have been added throughout. There is new carpet in the bedrooms and newer tile and vanities in the baths. Even newer AC and hot water heater. Additional storage on the ground level is perfect for bikes and misc. All building exteriors have been recently painted and all porches have been replaced. Enjoy the community pool and tennis courts and this convenient location a few miles from the beach and I-75 and close to shopping, dining and activities. Plus VERY LOW CONDO FEES and now this is a gated community.

Key facts

• Gorgeous water view
• Updated water heater
• Updated hvac

Tags

• UPDATED HVAC
• UPDATED WATER HEATER
• NEW PLANK TILE FLOORING
• NEW HURRICANE IMPACT WINDOWS
• GORGEOUS WATER VIEW

Property features AI

Finance

• Financial info: Condo fees and one-time fees reported
• HOA & community: Mandatory HOA; Quarterly condo fee (amount reported); Professional management; Community amenities include bocce court, pickleball, tennis court, community pool, fishing pier, sidewalks, and internet access; Maintenance covers reserves, exterior pest control, street maintenance and lights, trash removal, water, manager, legal/accounting; Total annual recurring fees reported

Exterior

• Parking: Covered/assigned parking not specified
• Security: Gated community access
• Utilities: Central water; Central sewer; Cable available
• Home design: Residential low-rise building (1–3 stories); End-unit; Rear exposure facing southeast; Part of Pine Haven Condo development
• Construction: Concrete block construction; Shingle roof; Built in 1984
• Exterior features: Stucco exterior; Impact resistant windows; Impact resistant doors; Gated community; Lake and pond views; Landscaped areas; Central irrigation; Zero lot line (end unit)

Interior

• Kitchen: Electric cooktop; Wall oven; Microwave; Dishwasher; Refrigerator/Freezer
• Bedrooms: 2 bedrooms (split bedroom floor plan)
• Flooring: Tile
• Bathrooms: 2 full bathrooms; Master bath with dual sinks and a shower (no tub)
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Smoke detectors; Screened balcony
• Laundry & utility: Washer and dryer in residence; Laundry in residence

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-66 ($-789/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (0.1% below list).
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.9% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 103 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y ago; this cycle's ask has dropped $14k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $122k; list at $215k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,650 (9.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.00% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.31%
• DSCR: 0.94
• GRM: 8.3

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: -22.4%
• Equity multiple: 0.25×
• Total profit: $-45,116
• Equity at exit: $32,057

10-year hold

• IRR: -29.6%
• Equity multiple: -0.13×
• Total profit: $-68,176
• Equity at exit: $18,589

Cash invested: $60,200 (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: 8.3×

Monthly cashflow live

• Estimated rent: $2,148 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$178 /mo · $2,139/yr
• Insurance: −$90
• HOA: −$367
• Vacancy / Maint / Mgmt: −$451
• Net cashflow: $-66

Break-even live

Break-even rent $2,231

Max offer price $203,392

Occupancy floor 98%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28160 Pine Haven Way Bonita Springs, FL	2.0	2.0	884	$1,900	$2.15	10d	1	0.02mi
28100 Pine Haven Way #6 Bonita Springs, FL	2.0	2.0	884	$1,895	$2.14	23d	1	0.07mi
28100 Pine Haven Way #5 Bonita Springs, FL	2.0	2.0	884	$1,800	$2.04	23d	1	0.07mi
28201 Pine Haven Way #145 Bonita Springs, FL	2.0	2.0	1030	$1,800	$1.75	16d	1	0.07mi
28260 Pine Haven Way #84 Bonita Springs, FL	2.0	2.0	1030	$1,950	$1.89	19d	1	0.08mi
28260 Pine Haven Way #81 Bonita Springs, FL	2.0	2.0	1030	$1,700	$1.65	11d	1	0.08mi
28161 Pine Haven Way #131 Bonita Springs, FL	2.0	2.0	884	$2,050	$2.32	23d	1	0.09mi
28280 Pine Haven Way #91 Bonita Springs, FL	2.0	2.0	913	$3,000	$3.29	23d	1	0.09mi
28280 Pine Haven Way #93 Bonita Springs, FL	2.0	2.0	1030	$3,200	$3.11	23d	1	0.09mi
28231 Pine Haven Way #163 Bonita Springs, FL	2.0	2.0	913	$1,850	$2.03	21d	1	0.10mi
28231 Pine Haven Way #163 Bonita Springs, FL	2.0	2.0	913	$1,850	$2.03	19d	1	0.10mi
28121 Pine Haven Way #110 Bonita Springs, FL	2.0	2.0	884	$2,100	$2.38	23d	1	0.11mi
28121 Pine Haven Way #109 Bonita Springs, FL	2.0	2.0	1040	$1,795	$1.73	23d	1	0.11mi
28261 Pine Haven Way Bonita Springs, FL	2.0	2.0	1068	$1,795	$1.68	23d	1	0.11mi
11350 Pendleton St #352 Bonita Springs, FL	2.0	1.0	1020	$1,800	$1.76	23d	1	0.49mi
11355 Ridge Rd Bonita Springs, FL	1.0	1.0	704	$2,250	$3.20	21d	1	0.62mi
10575 Crockett St Unit 303 Bonita Springs, FL	2.0	2.0	1000	$2,400	$2.40	23d	1	0.63mi
10575 Crockett St Unit 406 Bonita Springs, FL	2.0	2.0	900	$2,450	$2.72	3d	1	0.63mi
27599 Lime St Bonita Springs, FL	2.0	1.0	900	$1,800	$2.00	23d	1	0.67mi
10280 Carolina St Unit 1 Bonita Springs, FL	2.0	1.5	1040	$2,200	$2.12	19d	1	0.81mi
27715 Tennessee St Unit b Bonita Springs, FL	2.0	1.0	885	$1,750	$1.98	23d	1	0.82mi
27302 Dortch Ave #304 Bonita Springs, FL	2.0	1.0	800	$2,550	$3.19	3d	1	0.87mi
28151 Dovewood Ct Bonita Springs, FL	1.0–3.0	1.0–2.0	1233	$1,945	$1.58	3d	15	0.88mi
27123 Matheson Ave Bonita Springs, FL	2.0	2.0	970	$1,300	$1.34	3d	1	0.92mi
10725 Wilson St #11 Bonita Springs, FL	2.0	12.0	1008	$1,800	$1.79	23d	1	0.92mi
27123 Matheson Ave #106 Bonita Springs, FL	1.0	1.0	713	$1,600	$2.24	23d	1	0.93mi
27109 Matheson Ave Unit 206 Bonita Springs, FL	1.0	1.0	770	$1,700	$2.21	3d	1	0.95mi
27249 Pullen Ave #4 Bonita Springs, FL	2.0	2.5	956	$3,200	$3.35	23d	1	0.96mi
27249 Pullen Ave #5 Bonita Springs, FL	2.0	2.0	956	$1,950	$2.04	23d	1	0.96mi
27250 Shriver Ave Unit 1073504P Bonita Springs, FL	2.0	1.0	661	$4,275	$6.46	3d	2	0.99mi
27107 Matheson Ave Unit 4-108 Bonita Springs, FL	2.0	2.0	975	$3,995	$4.10	23d	1	1.00mi
27095 Matheson Ave #206 Bonita Springs, FL	1.0	1.0	715	$1,500	$2.10	23d	1	1.00mi
27103 Matheson Ave #206 Bonita Springs, FL	1.0	1.0	713	$1,700	$2.38	14d	1	1.04mi
27103 Matheson Ave #206 Bonita Springs, FL	1.0	1.0	770	$1,500	$1.95	23d	1	1.04mi
10897 Goodwin St #899 Bonita Springs, FL	2.0	1.0	770	$1,950	$2.53	23d	1	1.05mi
27083 Matheson Ave #208 Bonita Springs, FL	2.0	2.0	970	$1,750	$1.80	23d	1	1.11mi
9861 Alabama St #3 Bonita Springs, FL	2.0	2.0	866	$2,100	$2.42	23d	1	1.16mi
9861 Alabama St #3 Bonita Springs, FL	2.0	2.0	866	$2,100	$2.42	19d	1	1.16mi
28000 Crest Preserve Cir Bonita Springs, FL	1.0–2.0	1.0–2.0	897	$2,519	$2.81	3d	23	1.23mi
27020 Williams Rd #5 Bonita Springs, FL	1.0	1.0	595	$1,700	$2.86	23d	1	1.38mi

HOA detail condo

• Monthly dues: $367 · $4,404/yr
• Likely covers: watertrashpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-17
   days on market $215,000 Active 103 DOM
2. 2026-06-16
   days on market $215,000 Active 102 DOM
3. 2026-06-15
   days on market $215,000 Active 101 DOM
4. 2026-06-13
   days on market $215,000 Active 99 DOM
5. 2026-06-10
   days on market $215,000 Active 96 DOM
6. 2026-06-09
   days on market $215,000 Active 95 DOM
7. 2026-06-07
   days on market $215,000 Active 93 DOM
8. 2026-06-02
   days on market $215,000 Active 88 DOM
9. 2026-06-01
   days on market $215,000 Active 87 DOM
10. 2026-06-01
    days on market $215,000 Active 86 DOM
11. 2026-03-31
    price $215,000
12. 2026-03-06
    listed $229,000 Active
13. 2016-05-03
    soldstatus $122,500
14. 2016-05-02
    price $122,500 851-char remark

    Show marketing remark (851 chars)

    MOVE RIGHT IN TO THIS BEAUTIFULLY RENOVATED CONDO. Enjoy natural views overlooking the pond from your screened lanai which includes a storage room. You'll love the gorgeous new Samsung stainless kitchen appliances, stainless sink and faucet and new garbage disposal. The entire condo has been painted plus new screens and window treatments have been added throughout. There is new carpet in the bedrooms and newer tile and vanities in the baths. Even newer AC and hot water heater. Additional storage on the ground level is perfect for bikes and misc. All building exteriors have been recently painted and all porches have been replaced. Enjoy the community pool and tennis courts and this convenient location a few miles from the beach and I-75 and close to shopping, dining and activities. Plus VERY LOW CONDO FEES and now this is a gated community.

15. 2016-04-29
    soldstatus $122,500 Sold 851-char remark

    Show marketing remark (851 chars)

    MOVE RIGHT IN TO THIS BEAUTIFULLY RENOVATED CONDO. Enjoy natural views overlooking the pond from your screened lanai which includes a storage room. You'll love the gorgeous new Samsung stainless kitchen appliances, stainless sink and faucet and new garbage disposal. The entire condo has been painted plus new screens and window treatments have been added throughout. There is new carpet in the bedrooms and newer tile and vanities in the baths. Even newer AC and hot water heater. Additional storage on the ground level is perfect for bikes and misc. All building exteriors have been recently painted and all porches have been replaced. Enjoy the community pool and tennis courts and this convenient location a few miles from the beach and I-75 and close to shopping, dining and activities. Plus VERY LOW CONDO FEES and now this is a gated community.

16. 2016-03-10
    price $135,000 851-char remark

    Show marketing remark (851 chars)

    MOVE RIGHT IN TO THIS BEAUTIFULLY RENOVATED CONDO. Enjoy natural views overlooking the pond from your screened lanai which includes a storage room. You'll love the gorgeous new Samsung stainless kitchen appliances, stainless sink and faucet and new garbage disposal. The entire condo has been painted plus new screens and window treatments have been added throughout. There is new carpet in the bedrooms and newer tile and vanities in the baths. Even newer AC and hot water heater. Additional storage on the ground level is perfect for bikes and misc. All building exteriors have been recently painted and all porches have been replaced. Enjoy the community pool and tennis courts and this convenient location a few miles from the beach and I-75 and close to shopping, dining and activities. Plus VERY LOW CONDO FEES and now this is a gated community.

17. 2016-03-10
    historical 851-char remark

    Show marketing remark (851 chars)

    MOVE RIGHT IN TO THIS BEAUTIFULLY RENOVATED CONDO. Enjoy natural views overlooking the pond from your screened lanai which includes a storage room. You'll love the gorgeous new Samsung stainless kitchen appliances, stainless sink and faucet and new garbage disposal. The entire condo has been painted plus new screens and window treatments have been added throughout. There is new carpet in the bedrooms and newer tile and vanities in the baths. Even newer AC and hot water heater. Additional storage on the ground level is perfect for bikes and misc. All building exteriors have been recently painted and all porches have been replaced. Enjoy the community pool and tennis courts and this convenient location a few miles from the beach and I-75 and close to shopping, dining and activities. Plus VERY LOW CONDO FEES and now this is a gated community.

18. 2016-02-03
    listed $135,000 Active 851-char remark

    Show marketing remark (851 chars)

    MOVE RIGHT IN TO THIS BEAUTIFULLY RENOVATED CONDO. Enjoy natural views overlooking the pond from your screened lanai which includes a storage room. You'll love the gorgeous new Samsung stainless kitchen appliances, stainless sink and faucet and new garbage disposal. The entire condo has been painted plus new screens and window treatments have been added throughout. There is new carpet in the bedrooms and newer tile and vanities in the baths. Even newer AC and hot water heater. Additional storage on the ground level is perfect for bikes and misc. All building exteriors have been recently painted and all porches have been replaced. Enjoy the community pool and tennis courts and this convenient location a few miles from the beach and I-75 and close to shopping, dining and activities. Plus VERY LOW CONDO FEES and now this is a gated community.

19. 2005-01-11
    soldstatus $120,000
20. 1994-09-26
    soldstatus $52,000
21. 1994-04-01
    soldstatus $57,200

ⓘ 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: $2,139 · $178/mo
• Projected year-2 tax: $2,139 · $178/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 6/10 Major FEMA zone X (shaded) · 52% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $25,771
• − Mortgage interest: −$12,043
• − Property taxes: −$2,139
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,062
• − Management: −$2,062
• − HOA: −$4,404
• − Depreciation: −$6,255
• Taxable loss: −$4,268
• Est. tax savings @ 24.0%: +$1,024
• After-tax cash flow: $236/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

+275.9% since first listed

11 events — show timeline

• 2026-03-31 Price Changed $215,000 NAPLESMLS
• 2026-03-06 Listed $229,000 NAPLESMLS
• 2016-05-03 Sold (Public Records) $122,500 Public Records
• 2016-05-02 Price Changed $122,500 NAPLESMLS
• 2016-04-29 Sold (MLS) $122,500 NAPLESMLS
• 2016-03-10 Listing Removed — NAPLESMLS
• 2016-03-10 Price Changed $135,000 NAPLESMLS
• 2016-02-03 Listed $135,000 NAPLESMLS
• 2005-01-11 Sold (Public Records) $120,000 Public Records
• 1994-09-26 Sold (Public Records) $52,000 Public Records
• 1994-04-01 Sold (Public Records) $57,200 Public Records

Property tax history

+8.4%/yr

Latest (2025): $2,139 · -7.4% YoY. Source: county tax records.