2305 Towles St · Fort Myers, FL 33916

$349,900

6 bd · 4.0 ba · 2,291 sqft · MultiFamily public records · 302 Days on market

Built 1981 7,361 sqft lot ↓ 15% 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 +12.7/30.0
• ARV discount +7.5/15.0
• Livability +4.3/5.0
• 1% rule +4.2/10.0
• Schools +4.1/10.0
• DSCR +3.8/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This well maintained duplex offers a fantastic opportunity for both homeowners and investors. One side is currently owner occupied, while the other unit is generating $2,000/month in rental income, providing immediate cash flow. Perfect for buyers looking to offset their mortgage by living in one unit and renting the other, or for investors seeking a property with strong income potential. Conveniently located near major roads, shopping, schools, and local amenities. Don’t miss this versatile property with built in income potential schedule your showing today!

Key facts

• Vinyl flooring
• Utility room
• Wooden cabinets

Tags

• TWO DISTINCT LIVING SPACES
• UTILITY ROOM
• VINYL FLOORING
• ATTACHED ADDITION
• WOODEN CABINETS
• STAINLESS STEEL APPLIANCES

Property features AI

Finance

• Other: Pets allowed
• Financial info: Gross scheduled income listed as $24,000
• HOA & community: Community is non-gated; Sidewalks in the community; No association fee listed

Exterior

• Utilities: Public water; Septic tank for sewer; Cable service available
• Home design: Resale property; Zoned RS-7
• Construction: Block, concrete and stucco construction; Built-up, flat and shingle roofing
• Exterior features: Fenced yard; Outbuilding on the property; Rectangular lot; Publicly maintained road frontage; Lot dimensions approximately 60 x 119

Interior

• Flooring: Carpet; Wood
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans; Electric cooling
• Interior features: Carpet and wood flooring

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/2.0-bath units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $-36 ($-428/yr) — negative. Per door: $-18/mo.
• To cash-flow at today's rent, offer at most $344k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $323k (7.6% below list).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 3.0% in 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 86/100 on livability (#14 in FL, #383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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 falling (-4.3%/yr); 267 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,233/mo this rent would consume 74% of the median local household income ($53k/yr) (locally 2324% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 302 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $40k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $307,912 (12.0% 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 302 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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: 0.92% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.44%
• DSCR: 0.98
• GRM: 9.0

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: -20.6%
• Equity multiple: 0.30×
• Total profit: $-68,291
• Equity at exit: $52,171

10-year hold

• IRR: -23.5%
• Equity multiple: -0.00×
• Total profit: $-98,381
• Equity at exit: $30,253

Cash invested: $97,972 (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 33916

• Home prices YoY: -28.2%
• Rents YoY: -4.3%
• Active inventory: 267
• Price-to-rent: 18.0×

Monthly cashflow live

• Estimated rent: $3,233 high
• Mortgage (P&I): −$1,835
• Tax from tax record: −$609 /mo · $7,308/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$679
• Net cashflow: $-36

Break-even live

Break-even rent $3,278

Max offer price $343,599

Occupancy floor 96%

Sensitivity live

Price	-10% $162	-5% $63	+0% $-36	+5% $-135	+10% $-234
Rent	-10% $-291	-5% $-163	+0% $-36	+5% $92	+10% $220
Rate	-1.0pp $141	-0.5pp $53	base $-36	+0.5pp $-126	+1.0pp $-219

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,234
Total (2 units)			$3,233

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3816 Ballard Rd Fort Myers, FL	6.0	6.0	1900	$5,000	$2.63	3d	1	1.10mi
3816 Ballard Rd Fort Myers, FL	6.0	6.0	1900	$5,000	$2.63	2d	1	1.10mi

Listing history 21 events

1. 2026-06-07
   statusdays on market $349,900 Pending 302 DOM
2. 2026-06-02
   days on market $349,900 Active 301 DOM
3. 2026-06-01
   days on market $349,900 Active 300 DOM
4. 2026-06-01
   days on market $349,900 Active 299 DOM
5. 2026-05-15
   status Active
6. 2026-05-15
   status Pending
7. 2026-03-18
   price $349,900
8. 2026-03-18
   price $359,900
9. 2025-11-04
   price $379,900
10. 2025-07-28
    historical
11. 2025-07-13
    status Active
12. 2025-07-13
    price $390,000
13. 2025-07-07
    listed $390,000 Active
14. 2025-02-15
    historical
15. 2025-01-21
    status Active
16. 2024-12-28
    historical
17. 2024-11-08
    price $395,000
18. 2024-11-04
    status Active
19. 2024-10-20
    status Pending
20. 2024-09-17
    price $405,000
21. 2024-07-29
    listed $410,000 Active

ⓘ 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: $7,308 · $609/mo
• Projected year-2 tax: $7,308 · $609/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 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: $38,796
• − Mortgage interest: −$19,600
• − Property taxes: −$7,308
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,104
• − Management: −$3,104
• − Depreciation: −$10,179
• Taxable loss: −$6,248
• Est. tax savings @ 24.0%: +$1,500
• After-tax cash flow: $1,072/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 — Fort Myers

• Score: 86/100
• State rank: #14
• US rank: #383

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 278,598
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 27,943
• Household income: $52,586
• Rent vs Own: 66.2% rent · 33.8% own
• Severe rent burden: 2324.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 34% Hispanic / Latino 30% White 28% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6% Cuban 7% Dominican 1%
• Common ancestry: Estonian 3% Hispanic 1% Romanian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 69% English-only · Spanish 24% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -95.73%
• Current HPI: 243.2657
• Rent YoY: ▼ -4.30%
• 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

-14.7% since first listed

17 events — show timeline

• 2026-05-15 Relisted — FORTMLS
• 2026-05-15 Pending — FORTMLS
• 2026-03-18 Price Changed $349,900 FORTMLS
• 2026-03-18 Price Changed $359,900 FORTMLS
• 2025-11-04 Price Changed $379,900 FORTMLS
• 2025-07-28 Listing Removed — FORTMLS
• 2025-07-13 Relisted — FORTMLS
• 2025-07-13 Price Changed $390,000 FORTMLS
• 2025-07-07 Listed $390,000 FORTMLS
• 2025-02-15 Listing Removed — FORTMLS
• 2025-01-21 Relisted — FORTMLS
• 2024-12-28 Listing Removed — FORTMLS
• 2024-11-08 Price Changed $395,000 FORTMLS
• 2024-11-04 Relisted — FORTMLS
• 2024-10-20 Pending — FORTMLS
• 2024-09-17 Price Changed $405,000 FORTMLS
• 2024-07-29 Listed $410,000 FORTMLS

Property tax history

+19.7%/yr

Latest (2025): $7,308 · +183.4% YoY. Source: county tax records.