10051 Broken Woods Ct S · North Fort Myers, FL 33903

$199,000

2 bd · 2.0 ba · 1,625 sqft · Manufactured public records · 346 Days on market

Built 1987 9,156 sqft lot Est $151k · 32% over $368/mo HOA · 16% 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 +18.4/30.0
• 1% rule +6.3/10.0
• DSCR +5.8/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

BEAUTIFUL UPDATED HOME DESIRABLE GOLF & TENNIS COMMUNITY. OVER 1600 S. FT. WITH AN ADDITIONAL 240 S. FT. AIR CONDITIONED FINISHED LANAI. ISLAND KITCHEN WITH WALK-IN PANTRY AND WALL OVEN. LARGE MASTER SUITE WITH 2 CLOSETS AND DUAL SINKS IN BATH. GREAT CORNER LOT WITH 2 CAR GARAGE. THIS IS A MUST SEE IN A GATED, PET FRIENDLY, VERY ACTIVE 55+ COMMUNITY. CLUBHOUSE, POOL, RESTAURANT, CARDS, DANCES AND INSTANT SOCIAL LIFE.

Key facts

• Hot tub
• Beautiful clubhouse
• Owned land

Tags

• OWNED LAND
• ON-SITE RESTAURANT
• LOVELY POOL
• HOT TUB
• BEAUTIFUL CLUBHOUSE

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $199k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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; 25 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).
• At $2,247/mo this rent would consume 47% of the median local household income ($57k/yr) (locally 468% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 346 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $40k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $115k; list at $199k implies a 73% 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; severe wildfire risk; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 346 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.13% ✓
• Cap rate: 7.42%
• Cash-on-cash: 4.03%
• DSCR: 1.18
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $151,125
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19844 Eagle Trace Ct	0.45mi	2/2.0	1,580 (-3%)	0mo	$147,000	$93	74
19851 Eagle Trace Ct S	0.52mi	2/2.0	1,519 (-6%)	9mo	$105,000	$69	58
19808 Frenchmans Ct	0.56mi	2/2.0	1,552 (-4%)	19mo	$180,000	$116	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.52×
• Total profit: $-26,741
• Equity at exit: $29,672

10-year hold

• IRR: -11.6%
• Equity multiple: 0.41×
• Total profit: $-32,709
• Equity at exit: $17,206

Cash invested: $55,720 (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 33903

• Rents YoY: -1.9%
• Active inventory: 472
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $2,247 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$93 /mo · $1,120/yr
• Insurance: −$83
• HOA: −$368
• Vacancy / Maint / Mgmt: −$472
• Net cashflow: $187

Break-even live

Break-even rent $2,010

Max offer price $199,000

Occupancy floor 87%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10401 Circle Pine Rd North Fort Myers, FL	2.0	2.0	1294	$3,000	$2.32	23d	1	0.22mi
19621 N Tamiami Trl North Fort Myers, FL	3.0	2.0	1205	$1,300	$1.08	23d	1	0.32mi
19477 Bermuda Ct North Fort Myers, FL	3.0	2.0	1460	$1,499	$1.03	2d	1	0.42mi
19421 Bermuda Ct North Fort Myers, FL	3.0	2.0	1198	$1,499	$1.25	2d	1	0.45mi
19414 Bermuda Ct North Fort Myers, FL	3.0	2.0	1251	$1,499	$1.20	2d	1	0.48mi
20038 Fiddlewood Ave North Fort Myers, FL	3.0	2.0	1519	$1,999	$1.32	19d	1	0.51mi
20056 Sweetbay Dr North Fort Myers, FL	3.0	2.0	1672	$4,000	$2.39	23d	1	0.68mi
19152 Meadowbrook Ct North Fort Myers, FL	3.0	2.0	1251	$1,499	$1.20	2d	1	0.71mi
20559 Long Pond Rd North Fort Myers, FL	3.0	2.0	1805	$2,295	$1.27	23d	1	0.90mi
1900 Corona del Sire Dr North Fort Myers, FL	2.0	2.0	1449	$2,400	$1.66	23d	1	0.98mi
1670 Palo Duro Blvd North Fort Myers, FL	2.0	2.0	1604	$2,700	$1.68	3d	1	1.01mi
2130 Rio Nuevo Dr Unit 1546442P North Fort Myers, FL	2.0	2.0	1248	$4,682	$3.75	14d	1	1.11mi
20919 Villareal Way North Fort Myers, FL	2.0	2.0	1428	$4,000	$2.80	23d	1	1.14mi
1701 NE 44th Ter Cape Coral, FL	3.0	2.0	1147	$1,800	$1.57	16d	1	1.15mi
1701 NE 44th Ter Cape Coral, FL	3.0	2.0	1147	$1,800	$1.57	14d	1	1.15mi
4421 NE 15th Pl Cape Coral, FL	3.0	2.0	1240	$2,000	$1.61	23d	1	1.22mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	16d	1	1.22mi
2481 Palo Duro Blvd North Fort Myers, FL	3.0	2.0	1450	$4,000	$2.76	21d	1	1.22mi
4215 E Gator Cir Cape Coral, FL	3.0	2.0	1385	$1,725	$1.25	3d	1	1.23mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$4,000	$3.23	23d	1	1.27mi
2300 Valparaiso Blvd North Fort Myers, FL	2.0	2.0	1237	$3,000	$2.43	16d	1	1.27mi
4036 Avenue Del Tura North Fort Myers, FL	2.0	2.0	1568	$1,950	$1.24	23d	1	1.29mi
20728 Tisbury Ln North Fort Myers, FL	3.0	2.5	2133	$5,000	$2.34	14d	1	1.32mi
2117 NE 40th St Cape Coral, FL	3.0	3.0	1776	$2,100	$1.18	16d	1	1.43mi
4125 NE 15th Pl Cape Coral, FL	3.0	2.0	1556	$2,000	$1.29	23d	1	1.47mi

HOA detail

• Monthly dues: $368 · $4,416/yr
• Likely covers: poolsecurity

Listing history 11 events

1. 2026-04-07
   status Pending
2. 2026-01-19
   price $199,000
3. 2026-01-19
   price $199,900
4. 2025-12-10
   price $224,900
5. 2025-09-22
   price $229,000
6. 2025-04-26
   listed $239,000 Active
7. 2014-08-27
   soldstatus $115,000
8. 2014-08-26
   price $129,900 426-char remark

   Show marketing remark (426 chars)

   BEAUTIFUL UPDATED HOME DESIRABLE GOLF & TENNIS COMMUNITY. OVER 1600 S. FT. WITH AN ADDITIONAL 240 S. FT. AIR CONDITIONED FINISHED LANAI. ISLAND KITCHEN WITH WALK-IN PANTRY AND WALL OVEN. LARGE MASTER SUITE WITH 2 CLOSETS AND DUAL SINKS IN BATH. GREAT CORNER LOT WITH 2 CAR GARAGE. THIS IS A MUST SEE IN A GATED, PET FRIENDLY, VERY ACTIVE 55+ COMMUNITY. CLUBHOUSE, POOL, RESTAURANT, CARDS, DANCES AND INSTANT SOCIAL LIFE.

9. 2014-08-26
   soldstatus $115,000 426-char remark

   Show marketing remark (426 chars)

   BEAUTIFUL UPDATED HOME DESIRABLE GOLF & TENNIS COMMUNITY. OVER 1600 S. FT. WITH AN ADDITIONAL 240 S. FT. AIR CONDITIONED FINISHED LANAI. ISLAND KITCHEN WITH WALK-IN PANTRY AND WALL OVEN. LARGE MASTER SUITE WITH 2 CLOSETS AND DUAL SINKS IN BATH. GREAT CORNER LOT WITH 2 CAR GARAGE. THIS IS A MUST SEE IN A GATED, PET FRIENDLY, VERY ACTIVE 55+ COMMUNITY. CLUBHOUSE, POOL, RESTAURANT, CARDS, DANCES AND INSTANT SOCIAL LIFE.

10. 2014-07-15
    listed $115,000 426-char remark

    Show marketing remark (426 chars)

    BEAUTIFUL UPDATED HOME DESIRABLE GOLF & TENNIS COMMUNITY. OVER 1600 S. FT. WITH AN ADDITIONAL 240 S. FT. AIR CONDITIONED FINISHED LANAI. ISLAND KITCHEN WITH WALK-IN PANTRY AND WALL OVEN. LARGE MASTER SUITE WITH 2 CLOSETS AND DUAL SINKS IN BATH. GREAT CORNER LOT WITH 2 CAR GARAGE. THIS IS A MUST SEE IN A GATED, PET FRIENDLY, VERY ACTIVE 55+ COMMUNITY. CLUBHOUSE, POOL, RESTAURANT, CARDS, DANCES AND INSTANT SOCIAL LIFE.

11. 1987-11-01
    soldstatus $109,400

ⓘ 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: $1,120 · $93/mo
• Projected year-2 tax: $1,652 · $138/mo
• Expected delta: +$532/yr (+$44/mo · 47.5%)

ⓘ 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 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: $26,963
• − Mortgage interest: −$11,147
• − Property taxes: −$1,120
• − Insurance: −$995
• − Repairs & maintenance: −$2,157
• − Management: −$2,157
• − HOA: −$4,416
• − Depreciation: −$5,789
• Taxable loss: −$818
• Est. tax savings @ 24.0%: +$196
• After-tax cash flow: $2,443/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

+81.9% since first listed

11 events — show timeline

• 2026-04-07 Pending — FORTMLS
• 2026-01-19 Price Changed $199,000 FORTMLS
• 2026-01-19 Price Changed $199,900 FORTMLS
• 2025-12-10 Price Changed $224,900 FORTMLS
• 2025-09-22 Price Changed $229,000 FORTMLS
• 2025-04-26 Listed $239,000 FORTMLS
• 2014-08-27 Sold (Public Records) $115,000 Public Records
• 2014-08-26 Sold (MLS) $115,000 FORTMLS
• 2014-08-26 Price Changed $129,900 FORTMLS
• 2014-07-15 Listed $115,000 FORTMLS
• 1987-11-01 Sold (Public Records) $109,400 Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,120 · +4.2% YoY. Source: county tax records.