3448 Celestial Way · North Fort Myers, FL 33903

$119,000

2 bd · 2.0 ba · 1,108 sqft · Manufactured public records · 82 Days on market

Built 1978 4,399 sqft lot Est $117k · at est. $294/mo HOA · 18% of rent

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Why this score? — see what drove the C 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 +21.6/30.0
• 1% rule +8.6/10.0
• DSCR +6.9/10.0
• ARV discount +6.9/15.0
• 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

This is the home you’ve been waiting for in the highly sought-after Tamiami Village, a 55+ community in North Fort Myers. Remodeled in 2024, this property offers a perfect blend of updates and comfort. The aluminum roof-over was replaced in 2012, with major improvements including new floors and subfloors in 2024 and a vapor barrier replaced in 2023. The vinyl siding was painted in recent years, enhancing curb appeal. Inside, you’ll find quartz countertops and an updated electrical panel, giving the home a clean, modern feel. Enjoy outdoor living with a composite deck on the back, perfect for relaxing or entertaining, along with a large storage shed for added convenience. Located

Key facts

• New floors
• Remodeled
• Quartz countertops

Tags

• REMODELED
• ALUMINUM ROOF-OVER
• NEW FLOORS
• VAPOR BARRIER
• VINYL SIDING
• QUARTZ COUNTERTOPS

Property features AI

Finance

• Financial info: Pets allowed conditionally (call); maximum 2 pets, max weight 25 lbs
• HOA & community: Homeowners association with monthly fee; HOA fee includes association management, legal/accounting, reserve fund, street lights, and trash; Community amenities: clubhouse, pool, spa/hot tub, sauna, fitness center, billiard room, library, park, dog park, shuffleboard court, sidewalks, street lights; Senior community; 701 units in community

Exterior

• Parking: Attached carport; 2 covered carport spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Manufactured home; Single-story; Entry level: 1; Faces south; Resale property
• Construction: Vinyl siding; Metal roof; Roof over; On-site management
• Exterior features: Storage; Electric shutters; Community pool; Rectangular lot; Lot exposures to the north

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Refrigerator; Freezer
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Family/Dining room; Living/Dining room; Florida room; Separate shower (shower only); Single-hung windows; Unfurnished
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $119k.

Deal economics

• At list price, monthly cash flow is $181 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $112k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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; 33 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 34% 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 $823 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 82 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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 $67k; list at $119k implies a 78% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,860 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.36% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.52%
• DSCR: 1.29
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $117,448
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3204 Pluto Cir	0.38mi	2/2.0	1,104 (-0%)	7mo	$110,000	$100	76
3500 Celestial Way	0.13mi	2/2.0	1,100 (-1%)	24mo	$85,000	$77	73
3167 Pluto Cir	0.27mi	2/2.0	1,150 (+4%)	15mo	$126,000	$110	68
16034 Citron Way	0.34mi	2/2.0	960 (-13%)	7mo	$125,000	$130	56
9250 Caloosa Dr	0.53mi	2/2.0	1,149 (+4%)	17mo	$139,500	$121	55
16041 Citron Way	0.37mi	2/2.0	960 (-13%)	6mo	$92,000	$96	55
170 Lakeside Dr	0.58mi	2/2.0	1,196 (+8%)	14mo	$79,000	$66	48
1091 Laurel Dr	0.64mi	2/2.0	1,194 (+8%)	14mo	$79,000	$66	46
974 Restful Rd	0.69mi	2/2.0	960 (-13%)	3mo	$109,575	$114	43
9209 Bonita Dr	0.47mi	2/2.0	1,274 (+15%)	14mo	$135,000	$106	41

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: -10.5%
• Equity multiple: 0.63×
• Total profit: $-12,303
• Equity at exit: $17,743

10-year hold

• IRR: -7.7%
• Equity multiple: 0.60×
• Total profit: $-13,401
• Equity at exit: $10,289

Cash invested: $33,320 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,617 high
• Mortgage (P&I): −$624
• Tax from tax record: −$129 /mo · $1,544/yr
• Insurance: −$50
• HOA: −$294
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $181

Break-even live

Break-even rent $1,388

Max offer price $119,000

Occupancy floor 84%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 33 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
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	14d	1	0.38mi
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	23d	1	0.59mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	23d	1	0.70mi
266 Mongoose Ln #266 North Fort Myers, FL	3.0	2.0	1372	$1,499	$1.09	3d	1	0.73mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	23d	1	0.81mi
571 Sunrise Ln North Fort Myers, FL	2.0	2.0	1004	$1,400	$1.39	23d	1	0.92mi
2095 Eloise Cir North Fort Myers, FL	2.0	1.0	840	$1,295	$1.54	23d	1	1.04mi
2027 Eloise Cir North Fort Myers, FL	2.0	1.0	822	$1,300	$1.58	3d	1	1.07mi
535 Zebra Dr #535 North Fort Myers, FL	3.0	2.0	1352	$1,499	$1.11	14d	1	1.12mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,371	$2.43	1d	27	1.15mi
16363 Teresa Ln North Fort Myers, FL	2.0	1.0	1000	$1,000	$1.00	23d	1	1.18mi
3957 Pomodoro Cir #301 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	16d	1	1.22mi
3953 Pomodoro Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1044	$1,462	$1.40	14d	9	1.24mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	16d	1	1.25mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	23d	1	1.25mi
538 State St North Fort Myers, FL	3.0	1.5	1000	$1,199	$1.20	23d	1	1.27mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	3d	1	1.29mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	23d	1	1.30mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	23d	1	1.32mi
3944 Pomodoro Cir #202 Cape Coral, FL	3.0	2.0	1411	$2,200	$1.56	23d	1	1.32mi
3940 Villa Del Mar CIR Cape Coral, FL	1.0–3.0	1.0–2.0	1051	$2,116	$2.01	1d	21	1.32mi
2904 Tuscan Dr #303 Cape Coral, FL	2.0	2.0	1460	$1,450	$0.99	23d	1	1.33mi
3968 Pomodoro Cir #202 Cape Coral, FL	2.0	2.0	1469	$1,475	$1.00	14d	1	1.34mi
3940 Pomodoro Cir Cape Coral, FL	2.0	2.0	1270	$1,475	$1.16	3d	2	1.34mi
2700 Diplomat Pkwy E Cape Coral, FL	1.0–3.0	1.0–2.0	1116	$2,382	$2.13	3d	41	1.36mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1534	$1,575	$1.03	3d	3	1.36mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1469	$1,498	$1.02	23d	2	1.36mi
2909 Tuscan Dr Cape Coral, FL	2.0	2.0	1469	$1,475	$1.00	23d	2	1.37mi
2913 Tuscan Dr #102 Cape Coral, FL	2.0	2.0	1469	$1,450	$0.99	23d	1	1.37mi
17499 Monte Isola Way Unit 17499 North Fort Myers, FL	3.0	2.5	1405	$1,800	$1.28	14d	1	1.41mi
17489 Monte Isola Way North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	14d	1	1.43mi
446 San Bernardino St North Fort Myers, FL	2.0	1.0	1104	$1,590	$1.44	10d	1	1.43mi

HOA detail

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

Listing history 26 events

1. 2026-06-17
   days on market $119,000 Active 82 DOM
2. 2026-06-16
   days on market $119,000 Active 81 DOM
3. 2026-06-15
   days on market $119,000 Active 80 DOM
4. 2026-06-13
   days on market $119,000 Active 78 DOM
5. 2026-06-10
   days on market $119,000 Active 75 DOM
6. 2026-06-09
   days on market $119,000 Active 74 DOM
7. 2026-06-07
   days on market $119,000 Active 72 DOM
8. 2026-06-03
   days on market $119,000 Active 68 DOM
9. 2026-06-02
   days on market $119,000 Active 67 DOM
10. 2026-06-01
    days on market $119,000 Active 66 DOM
11. 2026-06-01
    days on market $119,000 Active 65 DOM
12. 2026-03-27
    listed $119,000 Active
13. 2025-04-27
    historical
14. 2025-03-21
    price $129,900
15. 2025-01-02
    price $138,500
16. 2024-10-28
    listed $147,500 Active
17. 2024-04-25
    historical
18. 2024-04-17
    listed $149,900 Active
19. 2018-03-09
    soldstatus $67,000
20. 2014-12-09
    soldstatus $53,000
21. 2014-12-02
    price $55,900
22. 2014-12-02
    soldstatus $53,000
23. 2014-10-14
    listed $53,000
24. 2014-06-14
    historical
25. 2014-01-23
    listed $55,900
26. 2000-10-27
    soldstatus $42,900

ⓘ 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: $1,544 · $129/mo
• Projected year-2 tax: $1,544 · $129/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 26 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: $19,401
• − Mortgage interest: −$6,666
• − Property taxes: −$1,544
• − Insurance: −$595
• − Repairs & maintenance: −$1,552
• − Management: −$1,552
• − HOA: −$3,528
• − Depreciation: −$3,462
• Taxable income: $502
• Est. tax owed @ 24.0%: −$121
• After-tax cash flow: $2,051/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

+177.4% since first listed

15 events — show timeline

• 2026-03-27 Listed $119,000 FORTMLS
• 2025-04-27 Listing Removed — FORTMLS
• 2025-03-21 Price Changed $129,900 FORTMLS
• 2025-01-02 Price Changed $138,500 FORTMLS
• 2024-10-28 Listed $147,500 FORTMLS
• 2024-04-25 Listing Removed — FORTMLS
• 2024-04-17 Listed $149,900 FORTMLS
• 2018-03-09 Sold (Public Records) $67,000 Public Records
• 2014-12-09 Sold (Public Records) $53,000 Public Records
• 2014-12-02 Sold (MLS) $53,000 FORTMLS
• 2014-12-02 Price Changed $55,900 FORTMLS
• 2014-10-14 Listed $53,000 FORTMLS
• 2014-06-14 Listing Removed — FORTMLS
• 2014-01-23 Listed $55,900 FORTMLS
• 2000-10-27 Sold (Public Records) $42,900 Public Records

Property tax history

+7.8%/yr

Latest (2025): $1,544 · +1.1% YoY. Source: county tax records.