9266 Desoto Dr · North Fort Myers, FL 33903

$124,900

2 bd · 2.0 ba · 1,430 sqft · Manufactured public records · 268 Days on market

Built 1988 4,443 sqft lot Est $152k · 18% under $294/mo HOA · 17% of rent ↓ 4% 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 +27.3/30.0
• ARV discount +15.0/15.0
• DSCR +9.5/10.0
• 1% rule +9.1/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

HIGHLY MOTIVATED SELLER will entertain any reasonable offer!!!! Welcome to Tamiami Village, a highly sought-after 55+ community in North Fort Myers! This inviting, spacious 2-bedroom, 2-bath home has been well cared for with a host of recent upgrades, giving you peace of mind for years to come. Notable improvements include a new electric hot water heater and upgraded breaker (May 2024), new siding, carport roof, and gutters (August 2023), new skylight (2022), durable metal roof (2018), and updated bathroom fixtures (2023). The kitchen features a newer refrigerator (~2018), and the home is kept cool and comfortable with a reliable A/C installed in 2015. Plus, you’ll appreciate the indo

Key facts

• Carport roof
• New siding
• New gutters

Tags

• NEW ELECTRIC HOT WATER HEATER
• UPGRADED BREAKER
• NEW SIDING
• CARPORT ROOF
• NEW GUTTERS
• NEW SKYLIGHT

Property features AI

Finance

• Financial info: Pets allowed with conditions (up to 2 pets, max 25 lbs)
• HOA & community: HOA with monthly fee; Association fee covers management, legal/accounting, reserve fund, road maintenance, and trash; Community amenities including clubhouse, pool, spa/hot tub, fitness center, library, billiards/billiard room, shuffleboard court, and dog park; Street lights in the community; 701 units in the community

Exterior

• Parking: Attached carport; 2 covered spaces; 2-car carport
• Utilities: Public water; Public sewer; Cable not available
• Home design: Manufactured home; Single-story; Entry level 1; Faces south; Located in a senior community; Zoned MH-1; On-site management
• Construction: Metal roof; Vinyl siding; Resale condition
• Exterior features: Storage; Community pool

Interior

• Kitchen: Electric cooktop; Dishwasher; Refrigerator; Freezer
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air; Ceiling fan(s)
• Interior features: Vaulted ceilings; Separate shower; Shower only; Single-hung windows; Unfurnished
• Laundry & utility: Inside laundry; Washer; Dryer; Tankless water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $125k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 37% of the median local income ($57k/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 $864 of loan paydown is wiped out by about $4k 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 268 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $109,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 268 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.41% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.36%
• DSCR: 1.55
• GRM: 5.9

CMA / ARV

• ARV (on-the-fly): $151,580
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
192 Sun Dr	0.17mi	2/2.0	1,371 (-4%)	3mo	$133,000	$97	82
9060 Flamingo Cir	0.15mi	2/2.0	1,341 (-6%)	16mo	$136,000	$101	70
387 Horizon Dr	0.43mi	2/2.0	1,458 (+2%)	9mo	$160,000	$110	69
321 Sunshine Ave	0.35mi	2/2.0	1,456 (+2%)	15mo	$177,000	$122	68
9209 Bonita Dr	0.06mi	2/2.0	1,274 (-11%)	14mo	$135,000	$106	67
16042 Citron Way	0.28mi	2/2.0	1,288 (-10%)	4mo	$132,000	$102	67
323 Sunshine Ave	0.34mi	2/2.0	1,472 (+3%)	16mo	$165,500	$112	66
568 Hogan Dr	0.61mi	2/2.0	1,272 (-11%)	3mo	$63,000	$50	50

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: -1.8%
• Equity multiple: 0.93×
• Total profit: $-2,317
• Equity at exit: $18,623

10-year hold

• IRR: 3.8%
• Equity multiple: 1.23×
• Total profit: $8,150
• Equity at exit: $10,799

Cash invested: $34,972 (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: 5.9×

Monthly cashflow live

• Estimated rent: $1,756 high
• Mortgage (P&I): −$655
• Tax from tax record: −$26 /mo · $315/yr
• Insurance: −$52
• HOA: −$294
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $360

Break-even live

Break-even rent $1,300

Max offer price $124,900

Occupancy floor 74%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	3d	1	0.24mi
2864 Star Coral Dr Unit Na North Fort Myers, FL	3.0	2.0	1614	$1,999	$1.24	24d	1	0.40mi
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	14d	1	0.45mi
571 Sunrise Ln North Fort Myers, FL	2.0	2.0	1004	$1,400	$1.39	24d	1	0.49mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	24d	1	0.59mi
3153 Cozumel Ct Cape Coral, FL	3.0	2.0	1747	$2,000	$1.14	14d	1	0.67mi
2497 Ciales Ct Cape Coral, FL	3.0	2.0	1747	$1,850	$1.06	16d	1	0.80mi
3187 Cozumel Ct Cape Coral, FL	3.0	2.0	1747	$2,000	$1.14	3d	1	0.87mi
3420 Cancun Ct Cape Coral, FL	3.0	2.0	1747	$1,895	$1.08	14d	1	1.01mi
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	24d	1	1.04mi
2700 Diplomat Pkwy E Cape Coral, FL	1.0–3.0	1.0–2.0	1116	$2,382	$2.13	3d	41	1.09mi
3440 Cancun Ct Cape Coral, FL	3.0	2.0	1747	$1,950	$1.12	24d	1	1.09mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,371	$2.43	2d	27	1.10mi
266 Mongoose Ln #266 North Fort Myers, FL	3.0	2.0	1372	$1,499	$1.09	3d	1	1.10mi
3141 Amadora Cir Cape Coral, FL	3.0	2.0	1816	$2,295	$1.26	3d	1	1.18mi
3141 Amadora Cir Cape Coral, FL	3.0	2.0	1816	$2,295	$1.26	14d	1	1.18mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	24d	1	1.27mi
3957 Pomodoro Cir #301 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	16d	1	1.29mi
3953 Pomodoro Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1044	$1,462	$1.40	14d	9	1.29mi
538 State St North Fort Myers, FL	3.0	1.5	1000	$1,199	$1.20	24d	1	1.30mi
2116 NE 25th St Cape Coral, FL	3.0	2.0	1352	$1,891	$1.40	3d	1	1.32mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	24d	1	1.32mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	16d	1	1.32mi
3940 Villa Del Mar CIR Cape Coral, FL	1.0–3.0	1.0–2.0	1051	$2,116	$2.01	2d	21	1.33mi
3358 Sabal Springs Blvd North Fort Myers, FL	3.0	2.0	1621	$2,200	$1.36	24d	1	1.35mi
3944 Pomodoro Cir #202 Cape Coral, FL	3.0	2.0	1411	$2,200	$1.56	24d	1	1.36mi
2116 NE 22nd Ave Cape Coral, FL	3.0	2.0	1759	$2,195	$1.25	3d	1	1.38mi
2116 NE 22nd Ave Cape Coral, FL	3.0	2.0	1759	$2,200	$1.25	16d	1	1.38mi
3940 Pomodoro Cir Cape Coral, FL	2.0	2.0	1270	$1,475	$1.16	3d	2	1.39mi
2904 Tuscan Dr #303 Cape Coral, FL	2.0	2.0	1460	$1,450	$0.99	24d	1	1.39mi
3968 Pomodoro Cir #202 Cape Coral, FL	2.0	2.0	1469	$1,475	$1.00	14d	1	1.41mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	3d	1	1.43mi
2909 Tuscan Dr Cape Coral, FL	2.0	2.0	1469	$1,475	$1.00	24d	2	1.44mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1469	$1,498	$1.02	24d	2	1.44mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1534	$1,575	$1.03	3d	3	1.44mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	24d	1	1.44mi
2913 Tuscan Dr #102 Cape Coral, FL	2.0	2.0	1469	$1,450	$0.99	24d	1	1.45mi
3050 Steeple Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1003	$1,668	$1.66	3d	27	1.45mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	24d	1	1.46mi
446 San Bernardino St North Fort Myers, FL	2.0	1.0	1104	$1,590	$1.44	10d	1	1.47mi

HOA detail

• Monthly dues: $294 · $3,528/yr
• Likely covers: waterelectric

Listing history 11 events

1. 2026-06-17
   days on market $124,900 Active 268 DOM
2. 2026-06-16
   days on market $124,900 Active 267 DOM
3. 2026-06-16
   days on market $124,900 Active 266 DOM
4. 2026-06-13
   days on market $124,900 Active 264 DOM
5. 2026-06-09
   days on market $124,900 Active 260 DOM
6. 2026-06-07
   days on market $124,900 Active 258 DOM
7. 2026-06-02
   days on market $124,900 Active 253 DOM
8. 2026-06-01
   days on market $124,900 Active 252 DOM
9. 2026-06-01
   days on market $124,900 Active 251 DOM
10. 2025-12-11
    price $124,900
11. 2025-09-17
    listed $129,900 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: $315 · $26/mo
• Projected year-2 tax: $1,037 · $86/mo
• Expected delta: +$722/yr (+$60/mo · 229.3%)

ⓘ 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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 30 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: $21,075
• − Mortgage interest: −$6,996
• − Property taxes: −$315
• − Insurance: −$624
• − Repairs & maintenance: −$1,686
• − Management: −$1,686
• − HOA: −$3,528
• − Depreciation: −$3,633
• Taxable income: $2,606
• Est. tax owed @ 24.0%: −$626
• After-tax cash flow: $3,697/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

-3.8% since first listed

2 events — show timeline

• 2025-12-11 Price Changed $124,900 FORTMLS
• 2025-09-17 Listed $129,900 FORTMLS

Property tax history

-4.0%/yr

Latest (2025): $315 · +2.8% YoY. Source: county tax records.