5558 Palm Beach Blvd #214 · Buckingham, FL 33905

$88,900

2 bd · 1.0 ba · 672 sqft · Condo public records · 414 Days on market

Built 1974 $174/mo HOA ↓ 1% since listing

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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 +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover your own slice of paradise in this coveted 55+ co-op community with Gulf access! Live on the water and enjoy the best of Florida’s outdoor lifestyle right from your backyard—fish, boat, kayak, or paddle-board with ease. Within the vibrant Sun-N-Fun community, you'll find a wealth of fabulous amenities, including a clubhouse, bocce courts, a refreshing heated pool, a 9-hole golf corse, putting green, pickleball, shuffleboard, and a boat ramp with dock access and opportunity for boat/RV storage. This is the perfect opportunity to embrace waterfront living in a community designed for relaxation and recreation. Owner Financing Available.

Key facts

• Pickleball
• Gulf access
• Waterfront living

Tags

• GULF ACCESS
• WATERFRONT LIVING
• HEATED POOL
• 9-HOLE GOLF COURSE
• PUTTING GREEN
• PICKLEBALL

Property features AI

Finance

• Other: Waterfront with canal access; Lot exposures to the southwest; Zoning: MH-2
• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $174; Association covers grounds maintenance and trash; Community amenities include pool, clubhouse, boat dock/boat ramp, boat/RV storage, golf features (golf course, putting greens), bocce, pickleball, shuffleboard; On-site management; Senior community; Non-gated community; Community has 320 units

Exterior

• Parking: Assigned parking (two spaces); Attached carport with 1 covered space
• Utilities: Public water; Public sewer; Cable available
• Home design: Manufactured home; Single-story; Entry at level 1; Northeast-facing; Has a view
• Construction: Vinyl siding; Rolled/hot mop roof; Manufactured construction
• Exterior features: Storage; Lanai/porch (screened)

Interior

• Kitchen: Freezer; Microwave; Range; Refrigerator
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Wall furnace heating; Wall unit cooling
• Interior features: Unfurnished; Shower-only bathroom with separate shower; Screened porch

🏢 Co-op / cooperative unit. The $88,900 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $89k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.7% vs local median 3.6% in Buckingham — 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 (#413 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D+, schools F, amenities 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 (-3.0%/yr); 763 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 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 414 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $36k (29%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 6→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,232 (12.0% below list)

Questions for the listing agent

1. It's been on market 414 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. 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.
10. 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.
11. 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: 1.85% ✓
• Cap rate: 13.66%
• Cash-on-cash: 26.30%
• DSCR: 2.17
• GRM: 4.5

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: -13.2%
• Equity multiple: 0.55×
• Total profit: $-11,274
• Equity at exit: $13,255

10-year hold

• IRR: -16.6%
• Equity multiple: 0.31×
• Total profit: $-17,172
• Equity at exit: $7,686

Cash invested: $24,892 (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 33905

• Home prices YoY: -31.4%
• Rents YoY: -3.0%
• Active inventory: 763
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,645 medium
• Mortgage (P&I): −$466
• Tax from tax record: −$77 /mo · $920/yr
• Insurance: −$37
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$174
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $119

Break-even live

Break-even rent $1,494

Max offer price $88,900

Occupancy floor 88%

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: $22,225
• Closing costs: $2,667
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
243 Tangerine Dr Fort Myers, FL	2.0	1.5	720	$1,425	$1.98	23d	1	0.54mi
215 Delray Ave Fort Myers, FL	2.0	1.0	740	$1,450	$1.96	14d	1	1.25mi

HOA detail condo

• Monthly dues: $174 · $2,088/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-17
   days on market $88,900 Active 414 DOM
2. 2026-06-16
   days on market $88,900 Active 413 DOM
3. 2026-06-16
   days on market $88,900 Active 412 DOM
4. 2026-06-13
   days on market $88,900 Active 410 DOM
5. 2026-06-09
   days on market $88,900 Active 406 DOM
6. 2026-06-07
   days on market $88,900 Active 404 DOM
7. 2026-06-02
   days on market $88,900 Active 399 DOM
8. 2026-06-01
   days on market $88,900 Active 398 DOM
9. 2026-06-01
   days on market $88,900 Active 397 DOM
10. 2026-02-23
    price $88,900
11. 2026-01-07
    price $89,900
12. 2025-10-29
    price $94,900
13. 2025-05-28
    price $99,900
14. 2025-04-29
    listed $125,000 Active
15. 2023-09-21
    historical
16. 2023-05-17
    listed $89,900 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: $920 · $77/mo
• Projected year-2 tax: $920 · $77/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 7/10 Severe FEMA zone AE · 76% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 6 d/yr ≥107°F today · 25 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: $19,738
• − Mortgage interest: −$4,980
• − Property taxes: −$920
• − Insurance: −$5,563
• − Repairs & maintenance: −$1,579
• − Management: −$1,579
• − HOA: −$2,088
• − Depreciation: −$2,586
• Taxable income: $443
• Est. tax owed @ 24.0%: −$106
• After-tax cash flow: $1,322/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 — Buckingham

• Score: 70/100
• State rank: #413
• US rank: #7367

Category grades

Amenities F Commute F Cost of living D+ Crime A+ Employment A+ Housing A+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• City population: 40,908
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 41,381
• Household income: $71,987
• Rent vs Own: 37.2% rent · 62.8% own
• Severe rent burden: 1358.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 53% Hispanic / Latino 34% Two or more races 17% Black 9% Native American 4% Asian 2%
• Hispanic origin (detail): Mexican 11% Puerto Rican 5% Cuban 2%
• Common ancestry: Romanian 2% Slovak 2% Lithuanian 2%
• Foreign-born: 20% · Canada, Jamaica
• Languages at home: 68% English-only · Spanish 29% Other Indo-European 1% German/W. Germanic 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: ▼ -122.89%
• Current HPI: 268.4598
• Rent YoY: ▼ -2.97%
• 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

-1.1% since first listed

7 events — show timeline

• 2026-02-23 Price Changed $88,900 FORTMLS
• 2026-01-07 Price Changed $89,900 FORTMLS
• 2025-10-29 Price Changed $94,900 FORTMLS
• 2025-05-28 Price Changed $99,900 FORTMLS
• 2025-04-29 Listed $125,000 FORTMLS
• 2023-09-21 Listing Removed — FORTMLS
• 2023-05-17 Listed $89,900 FORTMLS

Property tax history

+8.0%/yr

Latest (2025): $920 · +139.4% YoY. Source: county tax records.