204 Sojourn Dr · North Fort Myers, FL 33903

$59,500

1 bd · 1.0 ba · 415 sqft · Manufactured public records · 18 Days on market

Built 1987 2,178 sqft lot Est $62k · at est. $230/mo HOA · 19% of rent

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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 +9.5/15.0
• 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

BEST PRICED HOME IN THE PARK! Located in highly sought after Land Owned Fountain View RV Resort, this perfect one bedroom one bath home is everything you need to start living the Florida Dream! This home comes fully furnished, just bring your bathing suit and flip flops! Make this community your part time or full time home. What are you waiting for? Enjoy the convenience of being just minutes away from the vibrant downtown Fort Myers, where you will find great dining, shopping, and entertainment options. Beautiful beaches, golf courses, and parks are also within easy reach, offering endless outdoor activities. Don't let this wonderful home pass you by. This home will not last!

Key facts

• Fountain view
• Rv resort
• Golf courses

Tags

• LAND OWNED
• FOUNTAIN VIEW
• RV RESORT
• BEAUTIFUL BEACHES
• GOLF COURSES
• PARKS

Property features AI

Finance

• Other: Pets allowed with conditions (call for details); maximum 1 pet up to 30 lbs
• Financial info: Located in a community of approximately 400 units; Senior community
• HOA & community: Homeowners association with monthly fee; HOA fee $230 monthly; Association covers management, legal/accounting, grounds maintenance, recreation facilities and reserve fund; Community amenities: clubhouse, pool, spa/hot tub, tennis courts, sport court, bocce, shuffleboard, laundry, management

Exterior

• Parking: Driveway; Paved parking
• Utilities: Cable available; High-speed internet available; Sewer assessment paid; Water assessment paid
• Home design: Manufactured home; Single-story; Entry level 1; Faces west
• Construction: Vinyl siding; Metal roof; Resale condition
• Exterior features: Rectangular lot; Paved road access; East exposure; Community pool

Interior

• Kitchen: Cooktop; Self-cleaning oven; Microwave; Refrigerator; Freezer
• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Furnished; Built-in features; Living/dining room; Tub with shower; Cable TV; High-speed internet available; Single hung windows with shutters
• Laundry & utility: Washer and dryer included; Washer/dryer hookups inside; Common area laundry available

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $60k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $59k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.3% 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.
• Zoned schools: Diplomat Elementary School (math 67% / reading 60%, grade B, #564 of 2,144 statewide, top 27%, 1,069 students, 56% FRL); Mariner Middle School (math 50% / reading 47%, grade C-, #274 of 571 statewide, top 50%, 1,001 students, 53% FRL); Ida S. Baker High School (math 44% / reading 47%, grade D-, #223 of 667 statewide, top 34%, 1,933 students, 39% FRL).
• Market conditions: Rents soft (-1.9%/yr); 477 active listings in the ZIP; 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 $411 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $17k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($59k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $58,607 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 2.07% ✓
• Cap rate: 12.33%
• Cash-on-cash: 21.57%
• DSCR: 1.96
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $62,250
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
169 Vista Mar Dr	0.09mi	1/1.0	386 (-7%)	7mo	$30,000	$78	79
10 Fountain View Blvd	0.22mi	1/1.5	442 (+6%)	22mo	$66,500	$150	59

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: 9.6%
• Equity multiple: 1.36×
• Total profit: $5,993
• Equity at exit: $8,872

10-year hold

• IRR: 15.1%
• Equity multiple: 1.99×
• Total profit: $16,535
• Equity at exit: $5,144

Cash invested: $16,660 (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: 477
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,234 medium
• Mortgage (P&I): −$312
• Tax from tax record: −$109 /mo · $1,303/yr
• Insurance: −$25
• HOA: −$230
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $299

Break-even live

Break-even rent $855

Max offer price $59,500

Occupancy floor 71%

Sensitivity live

Price	-10% $333	-5% $316	+0% $299	+5% $283	+10% $266
Rent	-10% $202	-5% $251	+0% $299	+5% $348	+10% $397
Rate	-1.0pp $329	-0.5pp $315	base $299	+0.5pp $284	+1.0pp $268

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: $14,875
• Closing costs: $1,785
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $230 · $2,760/yr

Listing history 12 events

1. 2026-06-22
   days on market $59,500 Active 18 DOM
2. 2026-06-18
   days on market $59,500 Active 15 DOM
3. 2026-06-17
   days on market $59,500 Active 14 DOM
4. 2026-06-16
   days on market $59,500 Active 13 DOM
5. 2026-06-15
   days on market $59,500 Active 12 DOM
6. 2026-06-13
   days on market $59,500 Active 10 DOM
7. 2026-06-10
   days on market $59,500 Active 7 DOM
8. 2026-06-09
   days on market $59,500 Active 6 DOM
9. 2026-06-08
   days on market $59,500 Active 5 DOM
10. 2026-06-07
    days on market $59,500 Active 4 DOM
11. 2026-06-03
    remarks 685-char remark
12. 2026-06-03
    listed $59,500 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: $1,303 · $109/mo
• Projected year-2 tax: $1,303 · $109/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $14,807
• − Mortgage interest: −$3,333
• − Property taxes: −$1,303
• − Insurance: −$298
• − Repairs & maintenance: −$1,185
• − Management: −$1,185
• − HOA: −$2,760
• − Depreciation: −$1,731
• Taxable income: $3,014
• Est. tax owed @ 24.0%: −$723
• After-tax cash flow: $2,870/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

+32.2% since first listed

3 events — show timeline

• 2026-06-03 Listed $59,500 FORTMLS
• 2021-10-26 Sold (Public Records) $60,000 Public Records
• 1999-03-12 Sold (Public Records) $45,000 Public Records

Property tax history

+9.0%/yr

Latest (2025): $1,303 · +14.8% YoY. Source: county tax records.