69 Sturbridge Ln · San Carlos Park, FL 33908

$70,000

2 bd · 2.0 ba · 720 sqft · Condo public records · 448 Days on market

Built 1974 $161/mo HOA · 9% of rent ↓ 7% 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 +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this exciting opportunity to own a manufactured home in a sought-after 55+ boating community! This home is ready for your personal touch and remodel, offering a fantastic canvas to create your dream space. Situated in a vibrant, active community with gulf access, you can enjoy life on the water with the ramp and dock just steps away. The community features a brand-new community center for socializing and activities, plus you’re just minutes from I-75, making commuting a breeze. Enjoy nearby shopping malls, restaurants, and stunning beaches for ultimate convenience and relaxation. Whether you're an avid boater or simply love the coastal lifestyle, this location offers the pe

Key facts

• Close to i-75
• Gulf access
• Shopping

Tags

• BOATING COMMUNITY
• GULF ACCESS
• RAMP AND DOCK ACCESS
• CLOSE TO I-75
• SHOPPING
• RESTAURANTS

Property features AI

Finance

• Other: Lot is rectangular, public maintained road, southerly exposure; Zoning: MH-2; Lot dimensions approximately 28 x 77 x 50 x 77 (survey)
• Financial info: Pets allowed with conditions (call for details)
• HOA & community: Monthly association fee of $161; Association covers grounds maintenance; Association amenities include boat dock, boat ramp, cabana, clubhouse, pier, pool, RV/boat storage, shuffleboard court; On-site management; Senior community

Exterior

• Parking: Attached carport with 2 covered spaces
• Utilities: Cable available; Sewer assessment paid; Water assessment paid
• Home design: Manufactured home with aluminum siding; One story; North-facing entry; Known damage reported
• Construction: Shingle roof
• Exterior features: Community pool; Boat facilities (dock, ramp, pier); Cabana, clubhouse, shuffleboard court; RV/boat storage

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central electric heating; Central electric cooling; Ceiling fans
• Interior features: Kitchen island; Main-level primary bedroom; Single-hung windows; Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.5% vs local median 2.4% in San Carlos Park — 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 65/100 on livability (#662 in FL) — a middle-class / working-renter tenant base. Strengths: housing A+, employment A-, crime B+; Watch: schools F, 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 (-1.2%/yr); 1244 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 448 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

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→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 448 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: 2.45% ✓
• Cap rate: 18.55%
• Cash-on-cash: 43.76%
• DSCR: 2.95
• GRM: 3.4

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: 3.3%
• Equity multiple: 1.12×
• Total profit: $2,376
• Equity at exit: $10,437

10-year hold

• IRR: 7.0%
• Equity multiple: 1.40×
• Total profit: $7,867
• Equity at exit: $6,052

Cash invested: $19,600 (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 33908

• Home prices YoY: -32.8%
• Rents YoY: -1.2%
• Active inventory: 1244
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,712 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$81 /mo · $966/yr
• Insurance: −$29
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$161
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $288

Break-even live

Break-even rent $1,347

Max offer price $70,000

Occupancy floor 78%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18245 Louise Dr Unit 4 Fort Myers, FL	2.0	1.0	708	$1,450	$2.05	21d	1	0.70mi
18168 Phlox Dr Unit 1 Fort Myers, FL	1.0	1.0	500	$1,550	$3.10	16d	1	1.19mi
7340 Stoney Grove CIR Fort Myers, FL	1.0–3.0	1.0–2.0	1106	$2,118	$1.91	2d	39	1.29mi
19600 Veduro Cir Fort Myers, FL	1.0–3.0	1.0–2.0	993	$1,970	$1.98	14d	11	1.34mi

HOA detail condo

• Monthly dues: $161 · $1,932/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-17
   days on market $70,000 Active 448 DOM
2. 2026-06-16
   days on market $70,000 Active 447 DOM
3. 2026-06-16
   days on market $70,000 Active 446 DOM
4. 2026-06-13
   days on market $70,000 Active 444 DOM
5. 2026-06-09
   days on market $70,000 Active 440 DOM
6. 2026-06-07
   days on market $70,000 Active 438 DOM
7. 2026-06-02
   days on market $70,000 Active 433 DOM
8. 2026-06-01
   days on market $70,000 Active 432 DOM
9. 2026-06-01
   days on market $70,000 Active 431 DOM
10. 2025-03-26
    listed $70,000 Active
11. 2024-04-16
    historical
12. 2023-11-08
    listed $75,000 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: $966 · $81/mo
• Projected year-2 tax: $966 · $81/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 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 28 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: $20,544
• − Mortgage interest: −$3,921
• − Property taxes: −$966
• − Insurance: −$5,468
• − Repairs & maintenance: −$1,644
• − Management: −$1,644
• − HOA: −$1,932
• − Depreciation: −$2,036
• Taxable income: $2,933
• Est. tax owed @ 24.0%: −$704
• After-tax cash flow: $2,754/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 — San Carlos Park

• Score: 65/100
• State rank: #662
• US rank: #13354

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• City population: 27,337
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 37,423
• Household income: $75,396
• Rent vs Own: 28.3% rent · 71.7% own
• Severe rent burden: 1944.0

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 (88%)
• Race & ethnicity: White 88% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2%
• Common ancestry: Romanian 5% Lithuanian 4% Slovak 3%
• Foreign-born: 10% · Canada, Jamaica
• Languages at home: 90% English-only · Spanish 4% Russian/Polish/Slavic 1% 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: ▼ -102.22%
• Current HPI: 209.7595
• Rent YoY: ▼ -1.18%
• 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

-6.7% since first listed

3 events — show timeline

• 2025-03-26 Listed $70,000 FORTMLS
• 2024-04-16 Listing Removed — FORTMLS
• 2023-11-08 Listed $75,000 FORTMLS

Property tax history

+0.8%/yr

Latest (2025): $966 · +12.1% YoY. Source: county tax records.