247 Shrub Ln N · North Fort Myers, FL 33917

$99,000

2 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 220 Days on market

Built 1974 5,183 sqft lot Est $135k · 27% under $122/mo HOA · 8% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

WELCOME HOME to your Florida retreat! This beautiful, spacious and turkey home includes 2-bedroom, 2 full baths, new AC unit, in a desirable 55+ community. The kitchen is open and bright, including a nice size panty and a breakfast bar. The living room and dining area offers an inviting atmosphere, perfect for relaxing or entertaining guests. The Sunroom/Lanai room offers additional living space for entertaining or to just sit and enjoy the beautiful Florida weather. The primary bedroom is large enough to accommodate a king-size bed and features two large walk-in closets. The guest bedroom is also a comfortably size, ensuring privacy and comfort for your visitors. Come and enjoy the comfort

Key facts

• New ac unit
• Sunroom lanai room
• Clubhouse

Tags

• NEW AC UNIT
• BREAKFAST BAR
• SUNROOM LANAI ROOM
• COMMUNITY POOL
• SAUNA
• CLUBHOUSE

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Homeowners association with monthly fee; Association fee includes internet and trash; Community amenities: clubhouse, pool, bocce court, pickleball, shuffleboard, billiard room, billiards, sauna, dog park; Street lights; Senior community; Community contains 436 units

Exterior

• Parking: Attached carport with 2 covered spaces
• Security: Security guard; Smoke detectors
• Utilities: Public water; Public sewer; High speed internet available; Cable not available
• Home design: Manufactured home with vinyl siding; Single-story; Resale property; Faces west; Zoned MH-1
• Construction: Metal roof and rolled/hot mop roofing; Manufactured construction; Vinyl siding
• Exterior features: Storage; Manual shutters; Awnings; Lanai; Porch; Screened porch; Community pool; Paved road access; Rectangular lot on a cul-de-sac/dead end; East exposure

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Refrigerator
• Bedrooms: Includes Florida room; Includes screened porch
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Kitchen island; Open living/dining area; Separate shower; Shower-only bath; Window coverings; Window treatments; High speed internet available; Furnished
• Laundry & utility: Washer; Dryer; Laundry tub

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $66 ($792/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $87k (12.0% 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.
• Market conditions: Rents rising (+2.6%/yr); 841 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 33% 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 $684 of loan paydown is wiped out by about $3k 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 220 days — a 12% lower offer ($87k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $46k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $36k; list at $99k implies a 171% gain — meaningful room to come down on a strong offer.

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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $87,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 220 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.54% ✓
• Cap rate: 12.26%
• Cash-on-cash: 21.32%
• DSCR: 1.95
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $134,784
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
349 Shrub Ln S	0.09mi	2/2.0	1,144 (-1%)	7mo	$110,000	$96	88
7580 Marx Dr	0.27mi	2/2.0	1,176 (+2%)	5mo	$138,000	$117	80
734 Knotty Pine Cir	0.40mi	2/2.0	1,152 (0%)	3mo	$148,000	$128	79
558 Freedom St	0.71mi	2/2.0	1,182 (+3%)	14mo	$117,000	$99	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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.56×
• Total profit: $-12,104
• Equity at exit: $14,761

10-year hold

• IRR: -3.4%
• Equity multiple: 0.78×
• Total profit: $-6,207
• Equity at exit: $8,560

Cash invested: $27,720 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,520 high
• Mortgage (P&I): −$519
• Tax from tax record: −$26 /mo · $313/yr
• Insurance: −$41
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$122
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $66

Break-even live

Break-even rent $1,437

Max offer price $99,000

Occupancy floor 91%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
947 Strongbox Ln North Fort Myers, FL	2.0	2.0	1000	$1,300	$1.30	23d	1	0.38mi
16363 Teresa Ln North Fort Myers, FL	2.0	1.0	1000	$1,000	$1.00	23d	1	0.72mi
280 Flame Ln North Fort Myers, FL	2.0	2.0	980	$1,350	$1.38	3d	1	0.75mi
1439 Glick Dr North Fort Myers, FL	3.0	1.0	1134	$1,500	$1.32	2d	1	0.76mi
7622 Peyraud Dr North Fort Myers, FL	3.0	2.0	1404	$1,350	$0.96	23d	1	0.79mi
1846 Powell Dr Unit 28 North Fort Myers, FL	1.0	1.0	850	$1,500	$1.76	3d	1	0.84mi
106 Gaslight Ave North Fort Myers, FL	2.0	2.0	1056	$1,400	$1.33	3d	1	0.86mi
137 Lantern Pl Unit A North Fort Myers, FL	2.0	1.0	1080	$1,200	$1.11	3d	1	0.88mi
2500 Gail Helen Ct North Fort Myers, FL	3.0	2.0	1296	$1,500	$1.16	23d	1	0.91mi
5701 Longleaf Dr North Fort Myers, FL	2.0	2.0	1233	$1,570	$1.27	12d	1	0.91mi
15427 Crystal Lake Dr North Fort Myers, FL	2.0	2.0	1021	$3,200	$3.13	23d	1	0.93mi
7050 Nantucket Cir North Fort Myers, FL	2.0	2.0	950	$3,000	$3.16	23d	1	1.04mi
7050 Nantucket Cir #6 North Fort Myers, FL	2.0	2.0	950	$3,000	$3.16	16d	1	1.04mi
226 Lamplighter Ln North Fort Myers, FL	2.0	1.0	900	$899	$1.00	23d	1	1.06mi
234 Lamplighter Ln North Fort Myers, FL	2.0	2.0	864	$895	$1.04	14d	1	1.06mi
15610 Crystal Lake Dr #101 North Fort Myers, FL	2.0	2.0	998	$1,900	$1.90	23d	1	1.07mi
15610 Crystal Lake Dr North Fort Myers, FL	2.0	2.0	968	$1,850	$1.91	23d	1	1.07mi
2027 Eloise Cir North Fort Myers, FL	2.0	1.0	822	$1,300	$1.58	3d	1	1.14mi
5707 Foxlake Dr #2 North Fort Myers, FL	2.0	2.0	1114	$1,500	$1.35	23d	1	1.16mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,575	$1.55	23d	1	1.18mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,550	$1.53	3d	1	1.18mi
2095 Eloise Cir North Fort Myers, FL	2.0	1.0	840	$1,295	$1.54	23d	1	1.19mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	23d	1	1.19mi
5713 Foxlake Dr #5 North Fort Myers, FL	2.0	2.0	830	$1,400	$1.69	19d	1	1.19mi
257 Poe Ave North Fort Myers, FL	2.0	1.0	870	$1,175	$1.35	3d	1	1.21mi
15250 Riverbend Blvd #204 North Fort Myers, FL	2.0	2.0	1429	$1,600	$1.12	21d	1	1.24mi
1916 Flamingo Dr North Fort Myers, FL	2.0	1.0	852	$1,250	$1.47	3d	1	1.26mi
1916 Flamingo Dr North Fort Myers, FL	2.0	1.0	852	$1,275	$1.50	23d	1	1.26mi
8028 Breeze Dr North Fort Myers, FL	2.0	1.0	750	$850	$1.13	23d	1	1.27mi
69 E Mariana Ave Unit B North Fort Myers, FL	3.0	1.0	1000	$1,795	$1.79	3d	1	1.28mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	23d	1	1.29mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	23d	1	1.31mi
112 Crescent Lake Dr North Fort Myers, FL	2.0	1.0	980	$1,700	$1.73	23d	1	1.32mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	3d	1	1.32mi
15020 Caspian Tern Ct Unit 103 North Fort Myers, FL	2.0	2.5	1286	$1,600	$1.24	23d	1	1.36mi
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	23d	1	1.37mi
8146 Tolles Dr North Fort Myers, FL	2.0	1.0	784	$850	$1.08	23d	1	1.39mi
15050 Caspian Tern Ct #103 North Fort Myers, FL	2.0	2.5	1365	$1,520	$1.11	23d	1	1.43mi
17499 Monte Isola Way Unit 17499 North Fort Myers, FL	3.0	2.5	1405	$1,800	$1.28	14d	1	1.43mi
15100 Caspian Tern Ct North Fort Myers, FL	2.0	2.5	1365	$1,595	$1.17	23d	1	1.44mi

HOA detail

• Monthly dues: $122 · $1,464/yr

Listing history 21 events

1. 2026-06-17
   days on market $99,000 Active 220 DOM
2. 2026-06-16
   days on market $99,000 Active 219 DOM
3. 2026-06-16
   days on market $99,000 Active 218 DOM
4. 2026-06-13
   days on market $99,000 Active 216 DOM
5. 2026-06-09
   days on market $99,000 Active 212 DOM
6. 2026-06-07
   days on market $99,000 Active 210 DOM
7. 2026-06-02
   days on market $99,000 Active 205 DOM
8. 2026-06-01
   days on market $99,000 Active 204 DOM
9. 2026-06-01
   pricedays on market $99,000 Active 203 DOM
10. 2026-04-29
    price $109,000
11. 2026-04-03
    price $115,000
12. 2026-02-28
    price $125,000
13. 2026-02-01
    price $135,000
14. 2025-11-08
    listed $144,900 Active
15. 2025-07-11
    historical
16. 2025-05-10
    price $145,000
17. 2025-02-24
    price $155,000
18. 2025-02-11
    price $165,000
19. 2024-11-01
    listed $175,000 Active
20. 1996-11-18
    soldstatus $36,500
21. 1996-10-24
    soldstatus $36,500

ⓘ 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: $313 · $26/mo
• Projected year-2 tax: $822 · $68/mo
• Expected delta: +$509/yr (+$42/mo · 162.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $18,243
• − Mortgage interest: −$5,546
• − Property taxes: −$313
• − Insurance: −$5,614
• − Repairs & maintenance: −$1,459
• − Management: −$1,459
• − HOA: −$1,464
• − Depreciation: −$2,880
• Taxable loss: −$492
• Est. tax savings @ 24.0%: +$118
• After-tax cash flow: $910/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

+198.6% since first listed

12 events — show timeline

• 2026-04-29 Price Changed $109,000 FORTMLS
• 2026-04-03 Price Changed $115,000 FORTMLS
• 2026-02-28 Price Changed $125,000 FORTMLS
• 2026-02-01 Price Changed $135,000 FORTMLS
• 2025-11-08 Listed $144,900 FORTMLS
• 2025-07-11 Listing Removed — FORTMLS
• 2025-05-10 Price Changed $145,000 FORTMLS
• 2025-02-24 Price Changed $155,000 FORTMLS
• 2025-02-11 Price Changed $165,000 FORTMLS
• 2024-11-01 Listed $175,000 FORTMLS
• 1996-11-18 Sold (Public Records) $36,500 Public Records
• 1996-10-24 Sold (Public Records) $36,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $313 · +6.5% YoY. Source: county tax records.