1904 Fountain St · Fort Myers, FL 33916

$165,000

3 bd · 1.0 ba · 1,071 sqft · SingleFamily public records · 29 Days on market

Built 1972 6,838 sqft lot Est $168k · at est.

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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 +23.8/30.0
• ARV discount +8.3/15.0
• DSCR +7.6/10.0
• 1% rule +6.3/10.0
• Livability +4.3/5.0
• Schools +4.1/10.0
• Condition / age +2.5/5.0
• Rent growth +1.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice Property for 1st home or investment. In great condition other than cosmetics. Needs paint inside. Newer AC and Newer Roof. Garage is now the 3rd bedroom.

Key facts

• 6,838 sq ft lot
• Parking
• Built 1972

Property features AI

Finance

• Financial info: Pets allowed
• HOA & community: No association fee; Non-gated community

Exterior

• Parking: Driveway; Paved parking
• Utilities: Cable available; Public water; Public sewer
• Home design: Single-story; Resale property; Entry level: 0; Faces east; Exposure to the west on the lot
• Construction: Block, concrete and stucco construction; Shingle roof; Rectangular lot; Lot dimensions approx. 70 x 98
• Exterior features: Fence; Room for pool; Paved road

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Bedrooms: Bedroom on main level
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning; Ceiling fans
• Interior features: Built-in features; Living/dining room; Main-level primary; Split bedrooms; Tub/shower; Single-hung windows; Unfurnished

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $316 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $163k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 3.0% in 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 86/100 on livability (#14 in FL, #383 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• 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 falling (-4.3%/yr); 267 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 42% of the median local income ($53k/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 $1k of loan paydown is wiped out by about $5k 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 29 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y 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 $81k; list at $165k implies a 104% 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→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,525 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.13% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.20%
• DSCR: 1.36
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $168,147
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1366 Brookhill Dr	0.68mi	3/2.0	1,092 (+2%)	10mo	$65,000	$60	53
2997 Price Ave	0.41mi	3/2.0	1,180 (+10%)	9mo	$185,000	$157	52
1543 Billie St	0.57mi	2/1.0 (-1)	1,026 (-4%)	16mo	$125,000	$122	48
2152 Pauldo St	0.51mi	2/1.0 (-1)	1,201 (+12%)	8mo	$87,500	$73	44
2775 Lime St	0.68mi	3/2.0	1,115 (+4%)	17mo	$245,000	$220	44
2836 Indian St	0.62mi	3/2.0	1,180 (+10%)	17mo	$199,000	$169	36

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: -7.3%
• Equity multiple: 0.74×
• Total profit: $-12,050
• Equity at exit: $24,602

10-year hold

• IRR: -2.0%
• Equity multiple: 0.88×
• Total profit: $-5,537
• Equity at exit: $14,266

Cash invested: $46,200 (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 33916

• Home prices YoY: -28.2%
• Rents YoY: -4.3%
• Active inventory: 267
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,862 high
• Mortgage (P&I): −$865
• Tax from tax record: −$221 /mo · $2,652/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $316

Break-even live

Break-even rent $1,462

Max offer price $165,000

Occupancy floor 78%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3216 Dale St Fort Myers, FL	2.0	1.0	886	$1,650	$1.86	3d	1	0.13mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	1d	1	0.21mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,900	$1.73	23d	1	0.21mi
2103 French St Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	2d	1	0.21mi
2103 French St Unit 2 Fort Myers, FL	3.0	2.0	1100	$1,800	$1.64	23d	1	0.21mi
2225 Carver Ave Fort Myers, FL	3.0	2.0	1193	$2,200	$1.84	23d	1	0.33mi
4051 Regata Way Fort Myers, FL	1.0–3.0	1.0–2.0	987	$2,021	$2.05	2d	34	0.33mi
3040 Douglas Ave Unit 3042 Fort Myers, FL	2.0	1.0	800	$1,150	$1.44	2d	1	0.33mi
3034 Price Ave Fort Myers, FL	3.0	2.0	1367	$2,100	$1.54	3d	1	0.37mi
3323 Michigan Ave Fort Myers, FL	3.0	2.0	1029	$1,600	$1.55	21d	1	0.39mi
2218 Quality Life Center Way Fort Myers, FL	4.0	2.0	1257	$2,250	$1.79	23d	1	0.39mi
1919 Lillie St Unit H Fort Myers, FL	2.0	1.0	829	$1,400	$1.69	23d	1	0.43mi
1919 Lillie St Unit F Fort Myers, FL	2.0	1.0	829	$1,400	$1.69	16d	1	0.43mi
2147 Pauldo St Fort Myers, FL	3.0	2.0	1088	$1,395	$1.28	23d	1	0.49mi
3306 Bassie Ct Fort Myers, FL	4.0	2.0	1257	$2,100	$1.67	23d	1	0.50mi
2987 Thomas St Fort Myers, FL	3.0	2.0	1200	$2,100	$1.75	21d	1	0.52mi
1759 Aquarius Ct Fort Myers, FL	2.0	1.0	800	$1,400	$1.75	14d	1	0.53mi
1759 Aquarius Ct Fort Myers, FL	2.0	1.0	800	$1,400	$1.75	3d	1	0.53mi
2955 Dunbar St Unit A Fort Myers, FL	3.0	2.0	1285	$2,300	$1.79	16d	1	0.53mi
2955 Dunbar St Unit A Fort Myers, FL	3.0	2.0	1111	$2,300	$2.07	3d	1	0.53mi
2132 Barker Blvd Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	23d	1	0.54mi
2188 Barker Blvd Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	23d	1	0.58mi
3141 Edison Ave Fort Myers, FL	4.0	1.0	1136	$1,500	$1.32	23d	1	0.64mi
2197 Davis Ct Fort Myers, FL	4.0	2.0	1257	$2,450	$1.95	2d	1	0.65mi
1775 Glenway Ct Fort Myers, FL	4.0	2.0	1367	$2,600	$1.90	23d	1	0.66mi
3341 Willard St Fort Myers, FL	4.0	2.0	1257	$2,500	$1.99	16d	1	0.68mi
1270 Allen St Unit B Fort Myers, FL	3.0	2.0	1085	$1,700	$1.57	23d	1	0.75mi
2656 Lime St Fort Myers, FL	4.0	2.0	1232	$1,700	$1.38	3d	1	0.81mi
216 Maria St Fort Myers, FL	3.0	1.0	864	$1,600	$1.85	23d	1	0.84mi
3417 South St Fort Myers, FL	3.0	2.0	1008	$1,695	$1.68	23d	1	0.87mi
3425 South St Fort Myers, FL	3.0	1.0	1132	$1,395	$1.23	3d	1	0.88mi
221 Maria St Unit 225 Fort Myers, FL	2.0	1.0	720	$1,095	$1.52	23d	1	0.88mi
227 Maria St Fort Myers, FL	2.0	1.0	720	$1,095	$1.52	23d	1	0.89mi
2651 Market St Fort Myers, FL	3.0	2.0	1184	$1,295	$1.09	23d	1	0.91mi
2649 Market St Unit 2651 Fort Myers, FL	3.0	2.0	1184	$1,250	$1.06	19d	1	0.91mi
2825 Palm Beach Blvd Fort Myers, FL	1.0–3.0	1.5–2.5	990	$2,200	$2.22	10d	7	0.92mi
2885 Palm Beach Blvd #408 Fort Myers, FL	2.0	2.0	835	$1,675	$2.01	23d	1	0.92mi
2885 Palm Beach Blvd #301 Fort Myers, FL	2.0	2.0	835	$1,650	$1.98	13d	1	0.92mi
2885 Palm Beach Blvd #301 Fort Myers, FL	2.0	2.0	835	$1,650	$1.98	14d	1	0.92mi
2885 Palm Beach Blvd #402 Fort Myers, FL	2.0	2.0	938	$1,850	$1.97	14d	1	0.92mi

Listing history 24 events

1. 2026-06-17
   days on market $165,000 Active 29 DOM
2. 2026-06-16
   days on market $165,000 Active 28 DOM
3. 2026-06-15
   days on market $165,000 Active 27 DOM
4. 2026-06-13
   days on market $165,000 Active 25 DOM
5. 2026-06-10
   days on market $165,000 Active 22 DOM
6. 2026-06-09
   days on market $165,000 Active 21 DOM
7. 2026-06-08
   days on market $165,000 Active 20 DOM
8. 2026-06-07
   days on market $165,000 Active 19 DOM
9. 2026-06-03
   days on market $165,000 Active 15 DOM
10. 2026-06-02
    days on market $165,000 Active 14 DOM
11. 2026-06-01
    days on market $165,000 Active 13 DOM
12. 2026-05-31
    days on market $165,000 Active 12 DOM
13. 2026-05-19
    listed $165,000 Active
14. 2019-07-23
    soldstatus $81,000
15. 2012-07-27
    soldstatus $33,000 158-char remark

    Show marketing remark (158 chars)

    Nice Property for 1st home or investment. In great condition other than cosmetics. Needs paint inside. Newer AC and Newer Roof. Garage is now the 3rd bedroom.

16. 2012-07-17
    price $35,000 158-char remark

    Show marketing remark (158 chars)

    Nice Property for 1st home or investment. In great condition other than cosmetics. Needs paint inside. Newer AC and Newer Roof. Garage is now the 3rd bedroom.

17. 2010-04-30
    soldstatus $14,995 144-char remark

    Show marketing remark (144 chars)

    two bed one bath converted to 3 bed 1 bath SHORT SALE needs appliance and TLC could make nice cash flow producing rental

18. 2009-10-25
    listed $14,995 144-char remark

    Show marketing remark (144 chars)

    two bed one bath converted to 3 bed 1 bath SHORT SALE needs appliance and TLC could make nice cash flow producing rental

19. 2006-05-22
    soldstatus $142,800
20. 2006-04-25
    soldstatus $113,000
21. 2004-08-24
    soldstatus $37,000
22. 2004-07-27
    price $37,900
23. 2000-06-06
    soldstatus $62,000
24. 1999-11-17
    soldstatus $45,000

ⓘ 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: $2,652 · $221/mo
• Projected year-2 tax: $2,652 · $221/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 1/10 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: $22,340
• − Mortgage interest: −$9,243
• − Property taxes: −$2,652
• − Insurance: −$825
• − Repairs & maintenance: −$1,787
• − Management: −$1,787
• − Depreciation: −$4,800
• Taxable income: $1,246
• Est. tax owed @ 24.0%: −$299
• After-tax cash flow: $3,489/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 — Fort Myers

• Score: 86/100
• State rank: #14
• US rank: #383

Category grades

Amenities A+ Commute A+ Cost of living B+ Crime B+ Employment C Housing A+ Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Myers, FL
• County: Lee County · 788,662 people
• City population: 278,598
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 27,943
• Household income: $52,586
• Rent vs Own: 66.2% rent · 33.8% own
• Severe rent burden: 2324.0

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: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: Black 34% Hispanic / Latino 30% White 28% Two or more races 21% Asian 2%
• Hispanic origin (detail): Mexican 5% Puerto Rican 6% Cuban 7% Dominican 1%
• Common ancestry: Estonian 3% Hispanic 1% Romanian 1%
• Foreign-born: 22% · Canada, Vietnam, China
• Languages at home: 69% English-only · Spanish 24% Other Indo-European 4% French/Haitian/Cajun 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: ▼ -95.73%
• Current HPI: 243.2657
• Rent YoY: ▼ -4.30%
• 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

+266.7% since first listed

12 events — show timeline

• 2026-05-19 Listed $165,000 FORTMLS
• 2019-07-23 Sold (Public Records) $81,000 Public Records
• 2012-07-27 Sold (MLS) $33,000 FORTMLS
• 2012-07-17 Price Changed $35,000 FORTMLS
• 2010-04-30 Sold (MLS) $14,995 NAPLESMLS
• 2009-10-25 Listed $14,995 NAPLESMLS
• 2006-05-22 Sold (Public Records) $142,800 Public Records
• 2006-04-25 Sold (Public Records) $113,000 Public Records
• 2004-08-24 Sold (MLS) $37,000 FORTMLS
• 2004-07-27 Price Changed $37,900 FORTMLS
• 2000-06-06 Sold (Public Records) $62,000 Public Records
• 1999-11-17 Sold (Public Records) $45,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $2,652 · +2.3% YoY. Source: county tax records.