4607 NW 24th Ave · Lee, FL 32052

$80,000

3 bd · 1.0 ba · 672 sqft · Manufactured public records · 239 Days on market

Built 1981 ↓ 11% 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 +29.2/30.0
• DSCR +10.0/10.0
• Appreciation +8.3/10.0
• ARV discount +7.5/15.0
• 1% rule +7.1/10.0
• Livability +3.1/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

GREAT OPPORTUNITY TO MAKE IT YOUR OWN! SWMH 2/1 WITH A LITTLE OVER HALF ACRE LOT. NEEDS SOME TLC BUT HAS LOTS OF POTENTIAL.

Key facts

• 3 garage spots
• Built 1981
• Listed 238 days

Property features AI

Exterior

• Parking: 3-car garage
• Utilities: Private well water
• Home design: Manufactured home (residential)
• Construction: Metal siding
• Exterior features: Metal roof; Gravel road access; Shed(s) on property

Interior

• Kitchen: Electric cooktop; Refrigerator; Dishwasher not listed
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Interior features: Dryer; Electric cooktop; Refrigerator; Washer
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $278 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($965 rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 2.8% in Lee — 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 61/100 on livability (#771 in FL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A; Watch: crime D, health & safety D, amenities F.
• Hamilton (rural): math 34% / reading 29% proficiency, ranked #68 of 73 in FL (top 93%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 85 active listings in the ZIP; 26 units permitted in Hamilton County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($553 loan paydown + $5k appreciation (6.7% local appreciation)).
• Hamilton County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.7% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 239 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; severe wildfire risk; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 239 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.21% ✓
• Cap rate: 10.47%
• Cash-on-cash: 14.91%
• DSCR: 1.66
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.69% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.1%
• Equity multiple: 2.97×
• Total profit: $44,107
• Equity at exit: $53,808

10-year hold

• IRR: 26.7%
• Equity multiple: 6.14×
• Total profit: $115,066
• Equity at exit: $100,769

Cash invested: $22,400 (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 32052

• Home prices YoY: 2.2%
• Active inventory: 85
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $965 medium
• Mortgage (P&I): −$420
• Tax from tax record: −$31 /mo · $370/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $278

Break-even live

Break-even rent $612

Max offer price $80,000

Occupancy floor 66%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-19
   days on market $80,000 Active 239 DOM
2. 2026-06-18
   days on market $80,000 Active 238 DOM
3. 2026-06-17
   days on market $80,000 Active 237 DOM
4. 2026-06-16
   days on market $80,000 Active 236 DOM
5. 2026-06-15
   days on market $80,000 Active 235 DOM
6. 2026-06-14
   days on market $80,000 Active 233 DOM
7. 2026-06-13
   days on market $80,000 Active 232 DOM
8. 2026-06-10
   days on market $80,000 Active 230 DOM
9. 2026-06-09
   days on market $80,000 Active 229 DOM
10. 2026-06-08
    days on market $80,000 Active 228 DOM
11. 2026-06-07
    days on market $80,000 Active 227 DOM
12. 2026-06-05
    days on market $80,000 Active 224 DOM
13. 2026-06-02
    days on market $80,000 Active 222 DOM
14. 2026-06-01
    days on market $80,000 Active 221 DOM
15. 2026-05-31
    days on market $80,000 Active 220 DOM
16. 2026-05-30
    days on market $80,000 Active 219 DOM
17. 2026-03-02
    price $80,000
18. 2025-10-23
    listed $89,900 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: $370 · $31/mo
• Projected year-2 tax: $664 · $55/mo
• Expected delta: +$294/yr (+$25/mo · 79.6%)

ⓘ 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 8/10 Severe
• 🌡 Heat 8/10 Severe 7 d/yr ≥108°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 6/10 Major 11 unhealthy d/yr today · 11 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,576
• − Mortgage interest: −$4,481
• − Property taxes: −$370
• − Insurance: −$400
• − Repairs & maintenance: −$926
• − Management: −$926
• − Depreciation: −$2,327
• Taxable income: $2,145
• Est. tax owed @ 24.0%: −$515
• After-tax cash flow: $2,826/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: Hamilton
• NCES district ID: 1200720
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 29% ▼ -6.00%
• Median HH income: $36,461
• Composite: 26.18/100
• National rank: #7267
• State rank: #68 of 73 in FL

Livability — Lee

• Score: 61/100
• State rank: #771
• US rank: #17387

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment D- Housing A Health & safety D User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 8,073

Population outlook (Hamilton County) Hauer SSP2

• Today (2025): 13,405 people
• By 2030: 13,031 · -2.8%
• By 2040: 12,385 · -7.6%
• By 2050: 11,740 · -12.4%
• By 2075: 9,347 · -30.3%
• By 2100: 6,344 · -52.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 55% Black 33% Hispanic / Latino 8% Two or more races 4%
• Hispanic origin (detail): Puerto Rican 2% Cuban 4%
• Common ancestry: Romanian 2% Italian 1% Serbian 1%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 8% Russian/Polish/Slavic 2%

Political lean MEDSL · Hamilton

• 2024 margin: Solid R (+39.0) · D 30.1% · R 69.1%
• 2008→2024 swing: -24.4pp toward R · 2008: -14.6pp · 2024: -39.0pp
• All cycles: 2024: R+39.0 2020: R+31.8 2016: R+28.2 2012: R+16.9 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.69%
• Current HPI: 316.4797
• Rent YoY: —
• Metro: —
• 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

-11.0% since first listed

2 events — show timeline

• 2026-03-02 Price Changed $80,000 NFMLS
• 2025-10-23 Listed $89,900 NFMLS

Property tax history

+6.6%/yr

Latest (2025): $370 · +3.6% YoY. Source: county tax records.