11 Muleshoe Trl #253 · Lely Resort, FL 34113

$140,000

2 bd · 2.0 ba · 732 sqft · Manufactured public records · 253 Days on market

Built 1973 4,791 sqft lot $84/mo HOA · 3% 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 +5.0/10.0
• Rent growth +3.9/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover the charm of this well-maintained mobile home located at 11 Muleshoe Trail in Naples, FL. This property offers a spacious layout with 3 bedrooms and 2 bathrooms, providing ample living space. The open-concept design features a bright living area and a fully equipped kitchen. Enjoy outdoor living with a private deck and beautifully landscaped surroundings. Conveniently situated near local amenities and attractions, this home delivers comfort and accessibility in a peaceful setting.

Key facts

• Open-concept design
• Private deck
• Peaceful setting

Tags

• SPACIOUS LAYOUT
• OPEN-CONCEPT DESIGN
• PRIVATE DECK
• LANDSCAPED SURROUNDINGS
• PEACEFUL SETTING

Property features AI

Finance

• Other: Complex contains 1 unit; building has 1 unit and 1 floor; Lot described as 3 lots (lot unit 253); total area 732; Partial buildings view; Property measures source: Property Appraiser Office
• HOA & community: Mandatory HOA with on-site management; Monthly HOA fee of $84 (annual recurring fees $1,008); Community amenities include community room, dog park, internet access, and sidewalks; HOA covers lawn/land maintenance, pest control (exterior), sewer, street lights, street maintenance, trash removal, water, recreation facilities, reserves, and manager

Exterior

• Parking: Attached 2-car carport
• Utilities: Central water; Central sewer; Cable available
• Home design: Manufactured residential home; 1 story (ranch); Rear exposure faces south; Located in Hitching Post Mobile Home Park
• Construction: Manufactured construction; Shingle roof; Built in 1973
• Exterior features: Storage; Casement windows; Vinyl siding

Interior

• Kitchen: Electric cooktop; Range; Self-cleaning oven; Refrigerator/freezer
• Bedrooms: 2 bedrooms
• Flooring: Laminate flooring; Terrazzo flooring
• Bathrooms: 2 full bathrooms; Master bath with multiple shower heads
• Heating & cooling: Central electric heat; Central electric cooling; Ceiling fans
• Interior features: Built-in cabinets; Closet cabinets; Dining area in living room; Eat-in kitchen; Florida room; Open porch/lanai; Courtyard floor plan
• Laundry & utility: Washer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#786 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A-; Watch: health & safety D, schools F, amenities F.
• Collier (suburban): math 60% / reading 56% proficiency, ranked #16 of 73 in FL (top 22%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+5.6%/yr); 598 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 3,520 units permitted in Collier County in 2024 (959 in 5+ unit buildings).
• At $3,163/mo this rent would consume 46% of the median local household income ($82k/yr) (locally 954% 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 $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Collier County population projected at +30% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.6% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 253 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $60k; list at $140k implies a 133% gain — meaningful room to come down on a strong offer.

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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 253 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 1973 — 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. 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. 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?
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 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: 2.26% ✓
• Cap rate: 19.25%
• Cash-on-cash: 46.27%
• DSCR: 3.06
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 5.59% rent growth · sell at horizon

5-year hold

• IRR: 32.1%
• Equity multiple: 2.41×
• Total profit: $55,188
• Equity at exit: $20,874

10-year hold

• IRR: 40.9%
• Equity multiple: 5.46×
• Total profit: $174,930
• Equity at exit: $12,105

Cash invested: $39,200 (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 34113

• Rents YoY: 5.6%
• Active inventory: 598
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $3,163 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$111 /mo · $1,332/yr
• Insurance: −$58
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$84
• Vacancy / Maint / Mgmt: −$664
• Net cashflow: $1,085

Break-even live

Break-even rent $1,790

Max offer price $140,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,164	-5% $1,124	+0% $1,085	+5% $1,045	+10% $1,006
Rent	-10% $835	-5% $960	+0% $1,085	+5% $1,210	+10% $1,335
Rate	-1.0pp $1,155	-0.5pp $1,120	base $1,085	+0.5pp $1,049	+1.0pp $1,012

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5222 Treetops Dr Naples, FL	1.0	1.0	600	$1,800	$3.00	24d	1	0.90mi
5314 Gilchrist St Naples, FL	2.0	1.0	636	$2,000	$3.14	15d	1	1.14mi

HOA detail

• Monthly dues: $84 · $1,008/yr

Listing history 17 events

1. 2026-06-18
   days on market $140,000 Active 253 DOM
2. 2026-06-17
   days on market $140,000 Active 252 DOM
3. 2026-06-16
   days on market $140,000 Active 251 DOM
4. 2026-06-15
   days on market $140,000 Active 250 DOM
5. 2026-06-10
   days on market $140,000 Active 245 DOM
6. 2026-06-09
   days on market $140,000 Active 244 DOM
7. 2026-06-08
   days on market $140,000 Active 243 DOM
8. 2026-06-07
   days on market $140,000 Active 242 DOM
9. 2026-06-03
   days on market $140,000 Active 238 DOM
10. 2026-06-02
    days on market $140,000 Active 237 DOM
11. 2026-06-01
    days on market $140,000 Active 236 DOM
12. 2026-05-31
    days on market $140,000 Active 235 DOM
13. 2026-05-30
    days on market $140,000 Active 234 DOM
14. 2025-11-06
    price $140,000
15. 2025-10-08
    listed $150,000 Active
16. 2024-08-27
    soldstatus $60,000
17. 2002-03-01
    soldstatus $25,000

ⓘ 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: $1,332 · $111/mo
• Projected year-2 tax: $1,332 · $111/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $37,958
• − Mortgage interest: −$7,842
• − Property taxes: −$1,332
• − Insurance: −$5,818
• − Repairs & maintenance: −$3,037
• − Management: −$3,037
• − HOA: −$1,008
• − Depreciation: −$4,073
• Taxable income: $11,811
• Est. tax owed @ 24.0%: −$2,835
• After-tax cash flow: $10,184/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: Collier
• NCES district ID: 1200330
• Math proficiency: 60% ▼ -4.00%
• Reading proficiency: 56% ▼ -2.00%
• Median HH income: $58,275
• Composite: 50.23/100
• National rank: #1892
• State rank: #16 of 73 in FL

Livability — Lely Resort

• Score: 61/100
• State rank: #786
• US rank: #17981

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Collier County · 396,295 people
• Metro: Naples-Marco Island, FL
• Population (ZIP): 26,056
• Household income: $81,674
• Rent vs Own: 26.7% rent · 73.3% own
• Severe rent burden: 954.0

Population outlook (Collier County) Hauer SSP2

• Today (2025): 420,858 people
• By 2030: 450,054 · +6.9%
• By 2040: 502,232 · +19.3%
• By 2050: 544,932 · +29.5%
• By 2075: 627,203 · +49.0%
• By 2100: 659,015 · +56.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 56% Hispanic / Latino 28% Black 12% Two or more races 11% Asian 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 3% Cuban 2%
• Common ancestry: Hispanic 10% Romanian 3% Lithuanian 2%
• Foreign-born: 26% · Canada, Jamaica, Vietnam
• Languages at home: 63% English-only · Spanish 24% French/Haitian/Cajun 9% Other Indo-European 2%

Political lean MEDSL · Collier

• 2024 margin: Solid R (+33.1) · D 33.1% · R 66.2%
• 2008→2024 swing: -10.6pp toward R · 2008: -22.5pp · 2024: -33.1pp
• All cycles: 2024: R+33.1 2020: R+24.7 2016: R+26.0 2012: R+30.1 2008: R+22.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -194.86%
• Current HPI: 279.4232
• Rent YoY: ▲ 5.59%
• Metro: Naples-Marco Island, 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

+460.0% since first listed

4 events — show timeline

• 2025-11-06 Price Changed $140,000 NAPLESMLS
• 2025-10-08 Listed $150,000 NAPLESMLS
• 2024-08-27 Sold (Public Records) $60,000 Public Records
• 2002-03-01 Sold (Public Records) $25,000 Public Records

Property tax history

+21.8%/yr

Latest (2025): $1,332 · +186.1% YoY. Source: county tax records.