2781 Indianwood Dr · North Fort Myers, FL 33917

$165,000

2 bd · 2.0 ba · 1,332 sqft · Manufactured public records · 12 Days on market

Built 1976 4,704 sqft lot Est $132k · 25% over $112/mo HOA · 6% of rent

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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).

• Cash flow +21.8/30.0
• DSCR +7.0/10.0
• 1% rule +5.5/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely updated 2 bed, 2 bath home in Laurel Estates where you own the land and have low monthly maintenance fees. Updated kitchen and both bathrooms as well as enclosed Florida room. Tastefully decorated and furnished. This is an 55+ community with pool, clubhouse and to many activities to mention. Storage for boats/RV's upon availability.

Key facts

• New metal roof
• Remodeled kitchen
• Hot water heater

Tags

• UPDATED FLOORING
• NEW METAL ROOF
• NEW WINDOWS
• HOT WATER HEATER
• REPLACED PLUMBING
• REMODELED KITCHEN

Property features AI

Finance

• Other: Lot dimensions approximately 52 x 90; Zoning: MH-1; Irrigation via municipal system (assessment included)
• Financial info: Pets not allowed
• HOA & community: Homeowners association with $112 monthly fee; HOA covers association management, recreation facilities, road maintenance, and trash; Community amenities include clubhouse, fitness center, pool, spa/hot tub, bocce and shuffleboard courts, billiards/billiard room, and library; Senior community

Exterior

• Parking: Attached carport; Carport with 2 spaces; Assigned parking; Covered parking; Driveway; Paved parking; Two spaces
• Security: Smoke detector(s)
• Utilities: Cable available; Public water (assessment paid); Public sewer (assessment paid)
• Home design: Manufactured home; Single-story; Entry level: 1; Faces east; Resale condition
• Construction: Metal roof; Vinyl siding; Wood siding
• Exterior features: Lanai; Screened porch; Porch; Community pool; Rectangular lot; Private road frontage (private maintained, paved); West exposure

Interior

• Kitchen: Dishwasher; Self-cleaning oven; Microwave; Refrigerator; Freezer; Kitchen island; Pantry; Breakfast bar
• Bedrooms: Bedroom on main level; Guest quarters
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Partially furnished; Breakfast bar; Cathedral ceilings; Dual sinks; Kitchen island; Pantry; Shower only with separate shower; High-speed internet; Home office; Workshop; Double-hung windows; Impact glass windows; Shutters; Laminate flooring
• Laundry & utility: Washer; Dryer; Laundry inside

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $165k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Cap rate 8.2% 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; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 38% 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 $1k of loan paydown is wiped out by about $5k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y 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 $125k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $165,000

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.05% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.65%
• DSCR: 1.30
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $131,868
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1091 Laurel Dr	0.17mi	2/2.0	1,194 (-10%)	14mo	$79,000	$66	63
826 Peaceful Dr	0.45mi	2/2.0	1,152 (-14%)	3mo	$135,000	$117	54
558 Freedom St	0.66mi	2/2.0	1,182 (-11%)	14mo	$117,000	$99	38

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-11,072
• Equity at exit: $24,602

10-year hold

• IRR: 2.7%
• Equity multiple: 1.19×
• Total profit: $8,766
• Equity at exit: $14,266

Cash invested: $46,200 (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: 7.9×

Monthly cashflow live

• Estimated rent: $1,731 high
• Mortgage (P&I): −$865
• Tax from tax record: −$66 /mo · $788/yr
• Insurance: −$69
• HOA: −$112
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $256

Break-even live

Break-even rent $1,407

Max offer price $165,000

Occupancy floor 80%

Sensitivity live

Price	-10% $349	-5% $303	+0% $256	+5% $209	+10% $163
Rent	-10% $119	-5% $188	+0% $256	+5% $324	+10% $393
Rate	-1.0pp $339	-0.5pp $298	base $256	+0.5pp $213	+1.0pp $170

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	24d	1	0.06mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	24d	1	0.18mi
266 Mongoose Ln #266 North Fort Myers, FL	3.0	2.0	1372	$1,499	$1.09	4d	1	0.51mi
16363 Teresa Ln North Fort Myers, FL	2.0	1.0	1000	$1,000	$1.00	24d	1	0.63mi
535 Zebra Dr #535 North Fort Myers, FL	3.0	2.0	1352	$1,499	$1.11	15d	1	0.76mi
17499 Monte Isola Way Unit 17499 North Fort Myers, FL	3.0	2.5	1405	$1,800	$1.28	14d	1	0.80mi
17489 Monte Isola Way North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	15d	1	0.81mi
17669 Paradiso Way North Fort Myers, FL	3.0	2.0	1551	$1,999	$1.29	4d	1	0.84mi
17669 Paradiso Way North Fort Myers, FL	3.0	2.0	1551	$1,999	$1.29	24d	1	0.84mi
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	4d	1	0.88mi
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	15d	1	0.90mi
3358 Sabal Springs Blvd North Fort Myers, FL	3.0	2.0	1621	$2,200	$1.36	24d	1	0.91mi
4208 Caterina Ct North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	15d	1	0.92mi
4228 Caterina Ct North Fort Myers, FL	3.0	2.5	1700	$1,850	$1.09	12d	1	0.94mi
17400 Monte Isola Way North Fort Myers, FL	3.0	2.0	1448	$1,875	$1.29	24d	1	0.98mi
4241 Caterina Ct North Fort Myers, FL	3.0	2.5	1529	$1,900	$1.24	17d	1	0.98mi
4264 Cirella Ct North Fort Myers, FL	3.0	2.5	1442	$2,000	$1.39	12d	1	1.00mi
4276 Cirella Ct North Fort Myers, FL	3.0	2.5	1378	$1,800	$1.31	24d	1	1.01mi
2864 Star Coral Dr Unit Na North Fort Myers, FL	3.0	2.0	1614	$1,999	$1.24	24d	1	1.01mi
4275 Cirella Ct North Fort Myers, FL	3.0	2.5	1378	$1,800	$1.31	24d	1	1.07mi
3153 Cozumel Ct Cape Coral, FL	3.0	2.0	1747	$2,000	$1.14	15d	1	1.08mi
3187 Cozumel Ct Cape Coral, FL	3.0	2.0	1747	$2,000	$1.14	3d	1	1.17mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	24d	1	1.20mi
17920 Antherium Ln North Fort Myers, FL	2.0	2.0	1693	$2,400	$1.42	24d	1	1.21mi
2497 Ciales Ct Cape Coral, FL	3.0	2.0	1747	$1,850	$1.06	17d	1	1.21mi
947 Strongbox Ln North Fort Myers, FL	2.0	2.0	1000	$1,300	$1.30	24d	1	1.28mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	24d	1	1.36mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	4d	1	1.37mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	24d	1	1.39mi
3957 Pomodoro Cir #301 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	17d	1	1.39mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	24d	1	1.41mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	17d	1	1.41mi
3953 Pomodoro Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1044	$1,462	$1.40	15d	9	1.43mi
3420 Cancun Ct Cape Coral, FL	3.0	2.0	1747	$1,895	$1.08	15d	1	1.47mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1534	$1,575	$1.03	3d	3	1.49mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1469	$1,498	$1.02	24d	2	1.49mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,371	$2.43	2d	27	1.49mi
3968 Pomodoro Cir #202 Cape Coral, FL	2.0	2.0	1469	$1,475	$1.00	15d	1	1.49mi
3440 Cancun Ct Cape Coral, FL	3.0	2.0	1747	$1,950	$1.12	24d	1	1.50mi

HOA detail

• Monthly dues: $112 · $1,344/yr
• Likely covers: pool

Listing history 10 events

1. 2026-06-18
   days on market $165,000 Active 12 DOM
2. 2026-06-17
   days on market $165,000 Active 11 DOM
3. 2026-06-16
   days on market $165,000 Active 10 DOM
4. 2026-06-15
   days on market $165,000 Active 9 DOM
5. 2026-06-13
   days on market $165,000 Active 7 DOM
6. 2026-06-10
   days on market $165,000 Active 4 DOM
7. 2026-06-09
   days on market $165,000 Active 3 DOM
8. 2026-06-08
   days on market $165,000 Active 2 DOM
9. 2026-06-07
   remarks 693-char remark
10. 2026-06-07
    listed $165,000 Active 1 DOM

ⓘ 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: $788 · $66/mo
• Projected year-2 tax: $1,370 · $114/mo
• Expected delta: +$582/yr (+$48/mo · 73.9%)

ⓘ 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 · 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: $20,773
• − Mortgage interest: −$9,243
• − Property taxes: −$788
• − Insurance: −$825
• − Repairs & maintenance: −$1,662
• − Management: −$1,662
• − HOA: −$1,344
• − Depreciation: −$4,800
• Taxable income: $450
• Est. tax owed @ 24.0%: −$108
• After-tax cash flow: $2,963/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

+200.0% since first listed

15 events — show timeline

• 2026-06-05 Listed $165,000 FORTMLS
• 2021-12-27 Sold (Public Records) $125,000 Public Records
• 2021-12-23 Sold (MLS) $125,000 FORTMLS
• 2021-12-04 Pending — FORTMLS
• 2021-12-01 Relisted — FORTMLS
• 2021-11-29 Pending — FORTMLS
• 2021-11-18 Listed $125,000 FORTMLS
• 2018-01-05 Sold (MLS) $41,200 FORTMLS
• 2017-12-22 Pending — FORTMLS
• 2017-11-16 Relisted — FORTMLS
• 2017-10-25 Listing Removed — FORTMLS
• 2017-09-16 Price Changed $49,900 FORTMLS
• 2017-08-02 Price Changed $68,900 FORTMLS
• 2017-06-30 Listed $69,900 FORTMLS
• 1993-05-04 Sold (Public Records) $55,000 Public Records

Property tax history

+16.7%/yr

Latest (2025): $788 · +4.6% YoY. Source: county tax records.