14700 Patrick Henry Rd #1 · North Fort Myers, FL 33917

$55,900

2 bd · 2.0 ba · 1,360 sqft · Condo · 98 Days on market

Built 1975 $423/mo HOA

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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 +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment opportunity in this corner-lot home located in a premier 55+ Gulf-access riverfront co-op community—SHARE INCLUDED! Offering 2 bedrooms, FLEX Room/Den, and 2 baths, the large owner’s suite features a walk-in closet. Though the home sustained Hurricane Ian damage, it has been fully remediated and cleared. Key updates include PVC plumbing, Miami-Dade rated windows/doors, Hardie Board exterior with Tyvek insulation and 5/8” sheathing plywood, screened lanai, dual oversized driveways for 4+ cars, and utility shed. Residents enjoy two pools, hot tub, fitness center, tennis, pickleball, bocce, shuffleboard, basketball, Palm Point Park’s 9-acre preserve

Key facts

• Walk-in closet
• Screened lanai
• Pvc plumbing

Tags

• GULF-ACCESS RIVERFRONT
• WALK-IN CLOSET
• PVC PLUMBING
• MIAMI-DADE RATED WINDOWS
• HARDIE BOARD EXTERIOR
• SCREENED LANAI

Property features AI

Finance

• Other: No land lease
• HOA & community: Association with monthly fee; Monthly association fee of $423; Association covers legal/accounting, reserve funds, and recreation facility; Community amenities: Pool, Fitness Center, Community Room, Picnic Area, Putting Green, Billiard Room, Basketball Court, Shuffleboard Court, Bocce Ball, Pickleball Court(s)

Exterior

• Parking: Guest parking
• Security: Attended lobby
• Utilities: Has heating; Has cooling
• Home design: Stock cooperative; Resale property; Single-story; First-floor entry; Lobby with attendant
• Construction: Stucco and wood siding construction
• Exterior features: Porch; Screened porch; Not waterfront

Interior

• Kitchen: Microwave
• Bedrooms: 2 bedrooms on the main level
• Flooring: Tile; Other
• Bathrooms: 2 full bathrooms on the main level
• Heating & cooling: Window/wall heating; Wall/window cooling units
• Interior features: Built-in features; Screened porch

🏢 Co-op / cooperative unit. The $55,900 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/2.0-bath condo listed at $56k.

Deal economics

• At list price, monthly cash flow is $60 ($725/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $56k).
• Recommended offer: $51k (9.0% below list) — sets the bar for market timing.
• Cap rate 16.7% 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 rising (+2.6%/yr); 841 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 36% of the median local income ($55k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $386 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 98 days — a 9% lower offer ($51k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; HOA is 26% of rent.
• 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 $50,869 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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. 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: 2.94% ✓
• Cap rate: 16.75%
• Cash-on-cash: 37.34%
• DSCR: 2.66
• GRM: 2.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -9.2%
• Equity multiple: 0.66×
• Total profit: $-5,271
• Equity at exit: $8,335

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $109
• Equity at exit: $4,833

Cash invested: $15,652 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,641 high
• Mortgage (P&I): −$293
• Tax est. 1.5%: −$70 /mo · $838/yr
• Insurance: −$23
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$423
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $60

Break-even live

Break-even rent $1,564

Max offer price $55,900

Occupancy floor 91%

Sensitivity live

Price	-10% $99	-5% $80	+0% $60	+5% $41	+10% $22
Rent	-10% $-69	-5% $-4	+0% $60	+5% $125	+10% $190
Rate	-1.0pp $89	-0.5pp $75	base $60	+0.5pp $46	+1.0pp $31

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: $13,975
• Closing costs: $1,677
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5558 Sir Walter Way North Fort Myers, FL	2.0	2.0	1372	$1,095	$0.80	15d	1	0.10mi
5510 Sir Walter Way North Fort Myers, FL	2.0	2.0	1152	$1,800	$1.56	3d	1	0.11mi
7050 Nantucket Cir North Fort Myers, FL	2.0	2.0	950	$3,000	$3.16	24d	1	0.36mi
7050 Nantucket Cir #6 North Fort Myers, FL	2.0	2.0	950	$3,000	$3.16	16d	1	0.36mi
1056 Old Bridge Rd North Fort Myers, FL	2.0	1.0	1100	$1,350	$1.23	24d	1	0.36mi
5707 Foxlake Dr #2 North Fort Myers, FL	2.0	2.0	1114	$1,500	$1.35	24d	1	0.44mi
15427 Crystal Lake Dr North Fort Myers, FL	2.0	2.0	1021	$3,200	$3.13	24d	1	0.53mi
15080 Riverbend Blvd #802 North Fort Myers, FL	2.0	2.0	1344	$1,850	$1.38	21d	1	0.58mi
5701 Longleaf Dr North Fort Myers, FL	2.0	2.0	1233	$1,570	$1.27	12d	1	0.60mi
15610 Crystal Lake Dr North Fort Myers, FL	2.0	2.0	968	$1,850	$1.91	24d	1	0.62mi
15610 Crystal Lake Dr #101 North Fort Myers, FL	2.0	2.0	998	$1,900	$1.90	24d	1	0.62mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,575	$1.55	24d	1	0.63mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,550	$1.53	3d	1	0.63mi
15250 Riverbend Blvd #204 North Fort Myers, FL	2.0	2.0	1429	$1,600	$1.12	21d	1	0.69mi
1439 Glick Dr North Fort Myers, FL	3.0	1.0	1134	$1,500	$1.32	2d	1	0.74mi
1398 Evalena Ln North Fort Myers, FL	3.0	2.0	1479	$1,849	$1.25	2d	1	0.79mi
137 Lantern Pl Unit A North Fort Myers, FL	2.0	1.0	1080	$1,200	$1.11	3d	1	0.95mi
15493 Admiralty Cir #5 North Fort Myers, FL	2.0	2.0	1146	$2,400	$2.09	24d	1	1.00mi
69 E Mariana Ave Unit B North Fort Myers, FL	3.0	1.0	1000	$1,795	$1.79	3d	1	1.05mi
226 Lamplighter Ln North Fort Myers, FL	2.0	1.0	900	$899	$1.00	24d	1	1.08mi
106 Gaslight Ave North Fort Myers, FL	2.0	2.0	1056	$1,400	$1.33	3d	1	1.11mi
280 Flame Ln North Fort Myers, FL	2.0	2.0	980	$1,350	$1.38	3d	1	1.13mi
7306 Coon Rd North Fort Myers, FL	2.0	1.0	1000	$1,300	$1.30	12d	1	1.14mi
112 Crescent Lake Dr North Fort Myers, FL	2.0	1.0	980	$1,700	$1.73	24d	1	1.17mi
15121 Piping Plover Ct #101 North Fort Myers, FL	3.0	2.5	1583	$1,675	$1.06	24d	1	1.20mi
21 Crescent Lake Dr Unit 21 North Fort Myers, FL	2.0	1.0	900	$1,550	$1.72	24d	1	1.21mi
15121 Piping Plover Ct North Fort Myers, FL	3.0	2.5	1583	$1,675	$1.06	19d	1	1.22mi
20 Estate Dr North Fort Myers, FL	2.0	2.0	1644	$2,500	$1.52	3d	1	1.27mi
15120 Caspian Tern Ct #105 North Fort Myers, FL	3.0	2.5	1583	$1,695	$1.07	2d	1	1.28mi
15120 Caspian Tern Ct North Fort Myers, FL	3.0	2.5	1583	$1,600	$1.01	16d	1	1.29mi
6391 Brant Bay Blvd #101 North Fort Myers, FL	3.0	2.5	1583	$1,700	$1.07	24d	1	1.31mi
6391 Brant Bay Blvd Unit 102 North Fort Myers, FL	3.0	2.5	1502	$1,595	$1.06	3d	1	1.31mi
15100 Caspian Tern Ct North Fort Myers, FL	2.0	2.5	1365	$1,595	$1.17	24d	1	1.32mi
1526 Wood Rd North Fort Myers, FL	1.0	1.0	912	$1,500	$1.64	3d	1	1.34mi
15011 Caspian Tern Ct #101 North Fort Myers, FL	3.0	2.5	1583	$1,725	$1.09	3d	1	1.34mi
947 Strongbox Ln North Fort Myers, FL	2.0	2.0	1000	$1,300	$1.30	24d	1	1.36mi
15010 Caspian Tern Ct North Fort Myers, FL	3.0	2.5	1583	$1,850	$1.17	24d	1	1.36mi
15020 Caspian Tern Ct Unit 103 North Fort Myers, FL	2.0	2.5	1286	$1,600	$1.24	24d	1	1.37mi
15070 Caspian Tern Ct Unit 105 North Fort Myers, FL	3.0	2.5	1583	$1,750	$1.11	3d	1	1.37mi
2500 Gail Helen Ct North Fort Myers, FL	3.0	2.0	1296	$1,500	$1.16	24d	1	1.39mi

HOA detail condo

• Monthly dues: $423 · $5,076/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-17
   days on market $55,900 Active 98 DOM
2. 2026-06-16
   days on market $55,900 Active 97 DOM
3. 2026-06-15
   days on market $55,900 Active 96 DOM
4. 2026-06-13
   days on market $55,900 Active 94 DOM
5. 2026-06-10
   days on market $55,900 Active 91 DOM
6. 2026-06-09
   days on market $55,900 Active 90 DOM
7. 2026-06-07
   days on market $55,900 Active 88 DOM
8. 2026-06-03
   days on market $55,900 Active 84 DOM
9. 2026-06-02
   days on market $55,900 Active 83 DOM
10. 2026-06-01
    days on market $55,900 Active 82 DOM
11. 2026-06-01
    days on market $55,900 Active 81 DOM
12. 2025-09-15
    listed $55,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 85% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $19,690
• − Mortgage interest: −$3,131
• − Property taxes: −$838
• − Insurance: −$5,398
• − Repairs & maintenance: −$1,575
• − Management: −$1,575
• − HOA: −$5,076
• − Depreciation: −$1,626
• Taxable income: $470
• Est. tax owed @ 24.0%: −$113
• After-tax cash flow: $612/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): 33,380
• Household income: $55,000
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 775.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -122.28%
• Current HPI: 282.2895
• Rent YoY: ▲ 2.63%
• 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 event — show timeline

• 2025-09-15 Listed $55,900 Beaches MLS