51 La Fonda Ln · North Fort Myers, FL 33903

$69,950

1 bd · 1.0 ba · 396 sqft · Manufactured public records · 93 Days on market

Built 2001 2,134 sqft lot Est $59k · 18% over $264/mo HOA · 22% of rent

---

Why this score? — see what drove the C 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 +26.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Located in Fountain View RV Resort, a well-established 55+ deeded community where residents own the land, this turn-key 2001 manufactured home offers approximately 792 sq ft of comfortable living space with 1 bedroom and 1 bathroom. Ideally situated just three units from the community clubhouse, the residence has been well maintained and thoughtfully updated. Improvements include a new roof installed in 2016, new A/C system in 2018, and six new slider windows with updated framing in 2019. Interior features include an open kitchen with light wood cabinetry, updated kitchen and bathroom flooring, and attractive décor throughout. The home also offers a front deck, creating a comfortable

Key facts

• New a/c system
• Front deck
• Community clubhouse

Tags

• DEEDED COMMUNITY
• NEW ROOF
• NEW A/C SYSTEM
• SIX NEW SLIDER WINDOWS
• FRONT DECK
• COMMUNITY CLUBHOUSE

Property features AI

Finance

• Financial info: Pets allowed conditionally; call for details; Maximum 1 pet, up to 20 lbs
• HOA & community: Homeowners association with monthly fee; Association fee covers management, cable TV, insurance, laundry, grounds maintenance, recreation facilities, road maintenance, street lights, trash and water; Community amenities include clubhouse, pool, spa/hot tub, tennis courts, pickleball, basketball court, bocce court, shuffleboard, sport court, RV/boat storage, library, laundry and on-site management; Street lights in community; Senior community; 330 units in community

Exterior

• Parking: Deeded parking; Driveway parking; Paved parking
• Utilities: Cable available; High-speed internet available; Sewer assessment paid; Water assessment paid
• Home design: Manufactured home; Vinyl siding; Single-story; Entry level: 1; Faces south; Resale condition; RV-3 zoning
• Construction: Manufactured construction; Vinyl siding; Roof over
• Exterior features: Deck; No additional exterior features listed; Community pool; Rectangular lot; Private paved road frontage; Private maintained road; North exposure

Interior

• Kitchen: Freezer; Microwave; Range; Refrigerator; Eat-in kitchen with pantry
• Bedrooms: Primary bedroom on main level
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans; Electric cooling; Humidity control
• Interior features: Built-in features; Closet cabinetry; Eat-in kitchen; Living/dining room; Main level primary; Pantry; Tub/shower; Cable TV available; Vaulted ceilings; Window treatments; High-speed internet available; Sliding windows; Window coverings; Furnished
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $70k.

Deal economics

• At list price, monthly cash flow is $194 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 3.6% in North 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 74/100 on livability (#269 in FL, #4,409 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute 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 (-1.9%/yr); 472 active listings in the ZIP; 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 $484 of loan paydown is wiped out by about $2k 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 93 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $22k; list at $70k implies a 225% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→32/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,654 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.75% ✓
• Cap rate: 9.62%
• Cash-on-cash: 11.89%
• DSCR: 1.53
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $59,400
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
169 Vista Mar Dr	0.09mi	1/1.0	386 (-2%)	6mo	$30,000	$78	86
10 Fountain View Blvd	0.05mi	1/1.5	442 (+12%)	22mo	$66,500	$150	58

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: -3.4%
• Equity multiple: 0.88×
• Total profit: $-2,375
• Equity at exit: $10,430

10-year hold

• IRR: 0.7%
• Equity multiple: 1.04×
• Total profit: $752
• Equity at exit: $6,048

Cash invested: $19,586 (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 33903

• Rents YoY: -1.9%
• Active inventory: 472
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,227 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$115 /mo · $1,384/yr
• Insurance: −$29
• HOA: −$264
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $194

Break-even live

Break-even rent $981

Max offer price $69,950

Occupancy floor 79%

Sensitivity live

Price	-10% $234	-5% $214	+0% $194	+5% $174	+10% $154
Rent	-10% $97	-5% $146	+0% $194	+5% $243	+10% $291
Rate	-1.0pp $229	-0.5pp $212	base $194	+0.5pp $176	+1.0pp $157

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: $17,488
• Closing costs: $2,098
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $264 · $3,168/yr

Listing history 15 events

1. 2026-06-17
   days on market $69,950 Active 93 DOM
2. 2026-06-16
   days on market $69,950 Active 92 DOM
3. 2026-06-15
   days on market $69,950 Active 91 DOM
4. 2026-06-13
   days on market $69,950 Active 89 DOM
5. 2026-06-10
   days on market $69,950 Active 86 DOM
6. 2026-06-09
   days on market $69,950 Active 85 DOM
7. 2026-06-07
   days on market $69,950 Active 83 DOM
8. 2026-06-03
   days on market $69,950 Active 79 DOM
9. 2026-06-02
   days on market $69,950 Active 78 DOM
10. 2026-06-01
    days on market $69,950 Active 77 DOM
11. 2026-06-01
    days on market $69,950 Active 76 DOM
12. 2026-05-11
    price $69,950
13. 2026-03-16
    listed $75,000 Active
14. 1997-06-02
    soldstatus $21,500
15. 1989-03-01
    soldstatus $27,000

ⓘ 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: $1,384 · $115/mo
• Projected year-2 tax: $1,384 · $115/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 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 32 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: $14,724
• − Mortgage interest: −$3,918
• − Property taxes: −$1,384
• − Insurance: −$350
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − HOA: −$3,168
• − Depreciation: −$2,035
• Taxable income: $1,513
• Est. tax owed @ 24.0%: −$363
• After-tax cash flow: $1,965/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 — North Fort Myers

• Score: 74/100
• State rank: #269
• US rank: #4409

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: North Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 57,035
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 23,655
• Household income: $56,993
• Rent vs Own: 17.6% rent · 82.4% own
• Severe rent burden: 468.0

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 (81%)
• Race & ethnicity: White 81% Hispanic / Latino 14% Two or more races 8% Black 2%
• Hispanic origin (detail): Mexican 3% Puerto Rican 3% Cuban 3%
• Common ancestry: Lithuanian 4% Romanian 4% Italian 3%
• Foreign-born: 11% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -172.26%
• Current HPI: 256.773
• Rent YoY: ▼ -1.94%
• 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

+159.1% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $69,950 FORTMLS
• 2026-03-16 Listed $75,000 FORTMLS
• 1997-06-02 Sold (Public Records) $21,500 Public Records
• 1989-03-01 Sold (Public Records) $27,000 Public Records

Property tax history

+8.7%/yr

Latest (2025): $1,384 · +12.2% YoY. Source: county tax records.