5008 Spinnaker Rd · Port LaBelle, FL 33935

$299,990

4 bd · 2.0 ba · 1,802 sqft · Land · 94 Days on market

Built 2026 10,018 sqft lot

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Why this score? — see what drove the D 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).

• Appreciation +10.0/10.0
• Cash flow +8.7/30.0
• ARV discount +7.5/15.0
• Schools +3.1/10.0
• Livability +3.1/5.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0

Listing remarks MLS

Introducing the Queen, a four-bedroom floor plan from our Value collection. Designed for privacy and comfort, this home features three bedrooms on one side while the Owner's Suite is situated on the other side. As you enter through the foyer, you'll notice the Great Room and Dining Area offers a seamless flow and abundant natural light from the sliding glass doors leading to the backyard. The kitchen, positioned at the back of the home, is conveniently adjacent to the dining room. With ample counterspace and cabinets, it provides the perfect setting for culinary endeavors and storage of all your essentials. The laundry room, located within the home, flows seamlessly into the two-car garage, enhancing convenience and functionality. Rest assured that the Queen floor plan exemplifies our commitment to quality craftsmanship. Constructed using CBS (Concrete Block System), this home incorporates energy-smart features throughout, including a digital thermostat, a ventilation and A/C system, a roof vent and soffit for attic ventilation, and dual-pane energy-efficient windows. We stand behind the quality of our homes, which is why the Queen floor plan includes a 1-year transferable builder warranty and a 10-year structural warranty.

Key facts

• 0.23 acre lot
• 2 garage spots
• Built 2026

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: Non-gated community; No association fee listed

Exterior

• Parking: Attached 2-car garage; Driveway; Paved parking
• Utilities: Public water; Septic tank sewer; Cable available
• Home design: Single-story home; Entry level: 1; Faces south; Under construction
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Patio; Exterior shutters (manual); Rectangular lot; Paved road

Interior

• Kitchen: Dishwasher; Microwave; Range; Pantry
• Bedrooms: Master bedroom (main level); Three additional bedrooms (main level)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; Separate shower
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Double-hung windows; Living/dining room; Main-level primary bedroom; Pantry; Separate shower (shower only)
• Laundry & utility: Inside laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $300k.

Deal economics

• At list price, monthly cash flow is $-250 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (12.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $231k (23.1% below list).
• Recommended offer: $231k (23.1% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#750 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Hendry (town): math 35% / reading 40% proficiency, ranked #65 of 73 in FL (top 89%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 75% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 942 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 557 units permitted in Hendry County in 2024 (45 in 5+ unit buildings).
• At $2,308/mo this rent would consume 49% of the median local household income ($57k/yr) (locally 498% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $32k of equity ($2k loan paydown + $30k appreciation (10.0% local appreciation)).
• Hendry County population projected to shrink 7% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• By year 2, paydown + projected appreciation supports a ~$52k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 94 days — a 9% lower offer ($273k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.
• Current owner paid $25k; list at $300k implies a 1100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $230,753 (23.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 94 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
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. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 5.29%
• Cash-on-cash: -3.57%
• DSCR: 0.84
• GRM: 10.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.7%
• Equity multiple: 2.76×
• Total profit: $147,481
• Equity at exit: $270,255

10-year hold

• IRR: 19.6%
• Equity multiple: 6.32×
• Total profit: $446,909
• Equity at exit: $582,815

Cash invested: $83,997 (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 33935

• Home prices YoY: 16.3%
• Active inventory: 942
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,308 high
• Mortgage (P&I): −$1,573
• Tax est. 1.5%: −$375 /mo · $4,500/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$485
• Net cashflow: $-250

Break-even live

Break-even rent $2,624

Max offer price $263,784

Occupancy floor —

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: $74,998
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5029 S Rosebud Cir Labelle, FL	3.0	2.0	1389	$1,780	$1.28	24d	1	0.12mi
5012 Gunn Pl Labelle, FL	3.0	2.5	1783	$2,500	$1.40	3d	1	0.61mi
801 SW Raintree Blvd Labelle, FL	3.0	2.0	1285	$1,700	$1.32	24d	1	0.87mi
3051 NW Beechwood Cir Labelle, FL	4.0	2.0	1499	$2,200	$1.47	24d	1	0.92mi
7038 Lotus Cir Labelle, FL	4.0	3.0	1680	$2,200	$1.31	16d	1	1.04mi
7016 Palpano Cir Labelle, FL	3.0	2.5	1507	$2,100	$1.39	16d	1	1.14mi
6210 Forest Ct Labelle, FL	3.0	2.5	1503	$2,200	$1.46	24d	1	1.40mi
7061 Tide Cir Labelle, FL	4.0	2.0	1500	$1,695	$1.13	24d	1	1.41mi
3020 N Lakewood Rd Labelle, FL	4.0	2.0	1499	$1,950	$1.30	24d	1	1.48mi

Listing history 21 events

1. 2026-06-18
   days on market $299,990 Active 94 DOM
2. 2026-06-17
   days on market $299,990 Active 93 DOM
3. 2026-06-16
   days on market $299,990 Active 92 DOM
4. 2026-06-15
   days on market $299,990 Active 91 DOM
5. 2026-06-13
   days on market $299,990 Active 89 DOM
6. 2026-06-13
   days on market $299,990 Active 88 DOM
7. 2026-06-10
   days on market $299,990 Active 86 DOM
8. 2026-06-09
   days on market $299,990 Active 85 DOM
9. 2026-06-08
   remarks 538-char remark
10. 2026-06-08
    pricedays on market $299,990 Active 84 DOM
11. 2026-06-07
    days on market $309,000 Active 83 DOM
12. 2026-06-03
    days on market $309,000 Active 79 DOM
13. 2026-06-02
    days on market $309,000 Active 78 DOM
14. 2026-06-01
    days on market $309,000 Active 77 DOM
15. 2026-05-31
    days on market $309,000 Active 76 DOM
16. 2026-03-16
    listed $309,000 Active
17. 2025-06-13
    listed $309,000 Active 1243-char remark

    Show marketing remark (1243 chars)

    Introducing the Queen, a four-bedroom floor plan from our Value collection. Designed for privacy and comfort, this home features three bedrooms on one side while the Owner's Suite is situated on the other side. As you enter through the foyer, you'll notice the Great Room and Dining Area offers a seamless flow and abundant natural light from the sliding glass doors leading to the backyard. The kitchen, positioned at the back of the home, is conveniently adjacent to the dining room. With ample counterspace and cabinets, it provides the perfect setting for culinary endeavors and storage of all your essentials. The laundry room, located within the home, flows seamlessly into the two-car garage, enhancing convenience and functionality. Rest assured that the Queen floor plan exemplifies our commitment to quality craftsmanship. Constructed using CBS (Concrete Block System), this home incorporates energy-smart features throughout, including a digital thermostat, a ventilation and A/C system, a roof vent and soffit for attic ventilation, and dual-pane energy-efficient windows. We stand behind the quality of our homes, which is why the Queen floor plan includes a 1-year transferable builder warranty and a 10-year structural warranty.

18. 2024-10-04
    soldstatus $25,000
19. 2024-10-03
    soldstatus $25,000 Closed 204-char remark

    Show marketing remark (204 chars)

    Excellent opportunity in a growing area with new construction homes being built. Easy access to shopping, schools, churches and restaurants. Owner has several other lots for sale in the same area as well.

20. 2024-09-04
    status Pending 204-char remark

    Show marketing remark (204 chars)

    Excellent opportunity in a growing area with new construction homes being built. Easy access to shopping, schools, churches and restaurants. Owner has several other lots for sale in the same area as well.

21. 2024-08-28
    listed $26,000 Active 204-char remark

    Show marketing remark (204 chars)

    Excellent opportunity in a growing area with new construction homes being built. Easy access to shopping, schools, churches and restaurants. Owner has several other lots for sale in the same area as well.

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 45% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥108°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,690
• − Mortgage interest: −$16,804
• − Property taxes: −$4,500
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,215
• − Management: −$2,215
• − Depreciation: −$8,727
• Taxable loss: −$8,271
• Est. tax savings @ 24.0%: +$1,985
• After-tax cash flow: $-1,018/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: Hendry
• NCES district ID: 1200780
• Math proficiency: 35% ▼ -11.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $37,043
• Composite: 31.16/100
• National rank: #6054
• State rank: #65 of 73 in FL

Livability — Port LaBelle

• Score: 62/100
• State rank: #750
• US rank: #16264

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port LaBelle, FL
• County: Hendry County · 23,186 people
• Metro: Clewiston, FL
• Population (ZIP): 23,186
• Household income: $57,009
• Rent vs Own: 22.0% rent · 78.0% own
• Severe rent burden: 498.0

Population outlook (Hendry County) Hauer SSP2

• Today (2025): 38,866 people
• By 2030: 38,558 · -0.8%
• By 2040: 37,743 · -2.9%
• By 2050: 36,117 · -7.1%
• By 2075: 30,070 · -22.6%
• By 2100: 21,966 · -43.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Hispanic (56%)
• Race & ethnicity: Hispanic / Latino 56% White 39% Two or more races 21% Black 2% Native American 2%
• Hispanic origin (detail): Mexican 40% Puerto Rican 3% Cuban 5%
• Common ancestry: Lithuanian 2% Serbian 2% Slovak 1%
• Foreign-born: 27% · Canada, Jamaica
• Languages at home: 50% English-only · Spanish 50%

Political lean MEDSL · Hendry

• 2024 margin: Solid R (+38.3) · D 30.4% · R 68.7%
• 2008→2024 swing: -31.1pp toward R · 2008: -7.2pp · 2024: -38.3pp
• All cycles: 2024: R+38.3 2020: R+23.0 2016: R+14.2 2012: R+5.9 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 75.20%
• Current HPI: 537.4928
• Rent YoY: —
• Metro: Clewiston, 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

+1088.5% since first listed

6 events — show timeline

• 2026-03-16 Listed $309,000 FORTMLS
• 2025-06-13 Listed $309,000 Zillow
• 2024-10-04 Sold (Public Records) $25,000 Public Records
• 2024-10-03 Sold (MLS) $25,000 FORTMLS
• 2024-09-04 Pending — FORTMLS
• 2024-08-28 Listed $26,000 FORTMLS

Property tax history

+13.6%/yr

Latest (2025): $571 · +66.2% YoY. Source: county tax records.