2785 Wedgewood Dr · North Fort Myers, FL 33917

$140,000

3 bd · 2.0 ba · 1,152 sqft · Manufactured public records · 28 Days on market

Built 1976 4,704 sqft lot Est $114k · 23% over $114/mo HOA · 7% 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 +25.0/30.0
• DSCR +8.2/10.0
• 1% rule +7.3/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

AN OUTSTANDING SPACIOUS HOME. GLASSED ENCLOSED A/C FLORIDA ROOM, TASTEFULLY DECORATED. THIS HOME HAS SEEN SOME REMODELING BY PREVIOUS OWNERS. PLUMBING REPLACED, ROOFOVER, GLASSTOP RANGE, BREAKFAST AREA, FORMAL DINING, WALK IN CLOSETS, FURNISHED. LOCATED IN A DESIRABLE 55+ COMMUNITY LOW MAINTENANCE FEE $90/MO. OWN YOUR DEEDED LOT. CLUBHOUSE, POOL, MANY ACTIVITIES, SHUFFLEBOARD, BINGO, DANCES AND MORE. COME ENJOY FUN IN SUN AT SW FLORIDA, MAKE NEW FRIENDS, NICE NEIGHBORS. NEARBY RESTAURANTS & SHOPPING.

Key facts

• 4,704 sq ft lot
• 2 parking spots
• Community pool

Property features AI

Finance

• Financial info: Pets not allowed
• HOA & community: Monthly association fee of $114; Association covers management, recreation facilities, and trash; Community amenities include clubhouse, pool, bocce, shuffleboard, billiards, library, RV/boat storage, and management; Non-gated community; Senior community

Exterior

• Parking: Attached carport; Covered and paved parking; Two parking spaces (2 covered)
• Security: Smoke detector(s)
• Utilities: Cable available; Public water (assessment paid); Public sewer (assessment paid)
• Home design: Manufactured home; One story; Entry level 1; Faces east
• Construction: Aluminum siding; Metal roof; Rectangular lot; Private paved road; Private road maintained by owner; West exposure; Zoned MH-1; Resale property
• Exterior features: Lanai; Porch; Screened porch; Outbuilding

Interior

• Kitchen: Dishwasher; Self-cleaning oven; Microwave; Refrigerator; Freezer
• Bedrooms: Bedroom on main level
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; Separate shower; Shower only
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Furnished; Eat-in kitchen; Living/dining room; Pantry; Bar; Walk-in closet(s); Window treatments; Shutters (manual)
• Laundry & utility: Washer; Dryer; Laundry in garage

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $138k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% 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; 36 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 38% 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 $968 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 28 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y 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 $85k; list at $140k implies a 65% 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; moderate wildfire risk; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $137,900 (1.5% below list)

Questions for the listing agent

1. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.23% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.38%
• DSCR: 1.42
• GRM: 6.8

CMA / ARV

• ARV (on-the-fly): $114,048
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
826 Peaceful Dr	0.51mi	2/2.0 (-1)	1,152 (0%)	3mo	$135,000	$117	69
1091 Laurel Dr	0.21mi	2/2.0 (-1)	1,194 (+4%)	14mo	$79,000	$66	68
786 Roses Ln	0.53mi	2/2.0 (-1)	1,056 (-8%)	4mo	$149,000	$141	53
558 Freedom St	0.73mi	2/2.0 (-1)	1,182 (+3%)	14mo	$117,000	$99	45
3500 Celestial Way	0.71mi	2/2.0 (-1)	1,100 (-4%)	24mo	$85,000	$77	35

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: -2.5%
• Equity multiple: 0.90×
• Total profit: $-3,737
• Equity at exit: $20,874

10-year hold

• IRR: 6.8%
• Equity multiple: 1.50×
• Total profit: $19,586
• Equity at exit: $12,105

Cash invested: $39,200 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,721 high
• Mortgage (P&I): −$734
• Tax from tax record: −$147 /mo · $1,764/yr
• Insurance: −$58
• HOA: −$114
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $306

Break-even live

Break-even rent $1,334

Max offer price $140,000

Occupancy floor 77%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	23d	1	0.04mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	23d	1	0.24mi
2095 Eloise Cir North Fort Myers, FL	2.0	1.0	840	$1,295	$1.54	23d	1	0.45mi
2027 Eloise Cir North Fort Myers, FL	2.0	1.0	822	$1,300	$1.58	3d	1	0.47mi
266 Mongoose Ln #266 North Fort Myers, FL	3.0	2.0	1372	$1,499	$1.09	3d	1	0.48mi
574 Leopard Ln #574 North Fort Myers, FL	4.0	2.0	1459	$1,599	$1.10	13d	1	0.57mi
16363 Teresa Ln North Fort Myers, FL	2.0	1.0	1000	$1,000	$1.00	23d	1	0.69mi
535 Zebra Dr #535 North Fort Myers, FL	3.0	2.0	1352	$1,499	$1.11	14d	1	0.76mi
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	3d	1	0.82mi
17499 Monte Isola Way Unit 17499 North Fort Myers, FL	3.0	2.5	1405	$1,800	$1.28	14d	1	0.84mi
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	14d	1	0.85mi
17489 Monte Isola Way North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	14d	1	0.86mi
4208 Caterina Ct North Fort Myers, FL	3.0	2.5	1347	$1,800	$1.34	14d	1	0.96mi
17400 Monte Isola Way North Fort Myers, FL	3.0	2.0	1448	$1,875	$1.29	23d	1	1.01mi
4264 Cirella Ct North Fort Myers, FL	3.0	2.5	1442	$2,000	$1.39	11d	1	1.04mi
4276 Cirella Ct North Fort Myers, FL	3.0	2.5	1378	$1,800	$1.31	23d	1	1.05mi
4275 Cirella Ct North Fort Myers, FL	3.0	2.5	1378	$1,800	$1.31	23d	1	1.11mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	23d	1	1.15mi
947 Strongbox Ln North Fort Myers, FL	2.0	2.0	1000	$1,300	$1.30	23d	1	1.32mi
3957 Pomodoro Cir #301 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	16d	1	1.35mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	23d	1	1.36mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	16d	1	1.36mi
3961 Pomodoro Cir #204 Cape Coral, FL	2.0	2.0	1270	$1,450	$1.14	23d	1	1.36mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	3d	1	1.37mi
3953 Pomodoro Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1044	$1,624	$1.56	14d	9	1.38mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	23d	1	1.39mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1469	$1,498	$1.02	23d	2	1.45mi
3973 Pomodoro Cir Cape Coral, FL	2.0	2.0	1534	$1,575	$1.03	3d	3	1.45mi
3968 Pomodoro Cir #202 Cape Coral, FL	2.0	2.0	1469	$1,475	$1.00	14d	1	1.45mi
3944 Pomodoro Cir #202 Cape Coral, FL	3.0	2.0	1411	$2,200	$1.56	23d	1	1.46mi
2904 Tuscan Dr #303 Cape Coral, FL	2.0	2.0	1460	$1,450	$0.99	23d	1	1.46mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,823	$2.89	1d	27	1.47mi
2913 Tuscan Dr #102 Cape Coral, FL	2.0	2.0	1469	$1,450	$0.99	23d	1	1.47mi
2909 Tuscan Dr Cape Coral, FL	2.0	2.0	1469	$1,475	$1.00	23d	2	1.48mi
3940 Pomodoro Cir Cape Coral, FL	2.0	2.0	1270	$1,475	$1.16	3d	2	1.48mi
538 State St North Fort Myers, FL	3.0	1.5	1000	$1,199	$1.20	23d	1	1.49mi

HOA detail

• Monthly dues: $114 · $1,368/yr
• Likely covers: pool

Listing history 14 events

1. 2026-06-01
   statusdays on market $140,000 Pending 28 DOM
2. 2026-05-31
   days on market $140,000 Active 27 DOM
3. 2026-05-03
   listed $140,000 Active
4. 2020-12-01
   soldstatus $85,000
5. 2020-11-25
   soldstatus $85,000 Closed 512-char remark

   Show marketing remark (512 chars)

   AN OUTSTANDING SPACIOUS HOME. GLASSED ENCLOSED A/C FLORIDA ROOM, TASTEFULLY DECORATED. THIS HOME HAS SEEN SOME REMODELING BY PREVIOUS OWNERS. PLUMBING REPLACED, ROOFOVER, GLASSTOP RANGE, BREAKFAST AREA, FORMAL DINING, WALK IN CLOSETS, FURNISHED. LOCATED IN A DESIRABLE 55+ COMMUNITY LOW MAINTENANCE FEE $90/MO. OWN YOUR DEEDED LOT. CLUBHOUSE, POOL, MANY ACTIVITIES, SHUFFLEBOARD, BINGO, DANCES AND MORE. COME ENJOY FUN IN SUN AT SW FLORIDA, MAKE NEW FRIENDS, NICE NEIGHBORS. NEARBY RESTAURANTS & SHOPPING.

6. 2020-10-17
   status Pending 512-char remark

   Show marketing remark (512 chars)

   AN OUTSTANDING SPACIOUS HOME. GLASSED ENCLOSED A/C FLORIDA ROOM, TASTEFULLY DECORATED. THIS HOME HAS SEEN SOME REMODELING BY PREVIOUS OWNERS. PLUMBING REPLACED, ROOFOVER, GLASSTOP RANGE, BREAKFAST AREA, FORMAL DINING, WALK IN CLOSETS, FURNISHED. LOCATED IN A DESIRABLE 55+ COMMUNITY LOW MAINTENANCE FEE $90/MO. OWN YOUR DEEDED LOT. CLUBHOUSE, POOL, MANY ACTIVITIES, SHUFFLEBOARD, BINGO, DANCES AND MORE. COME ENJOY FUN IN SUN AT SW FLORIDA, MAKE NEW FRIENDS, NICE NEIGHBORS. NEARBY RESTAURANTS & SHOPPING.

7. 2020-09-29
   listed $89,900 Active 512-char remark

   Show marketing remark (512 chars)

   AN OUTSTANDING SPACIOUS HOME. GLASSED ENCLOSED A/C FLORIDA ROOM, TASTEFULLY DECORATED. THIS HOME HAS SEEN SOME REMODELING BY PREVIOUS OWNERS. PLUMBING REPLACED, ROOFOVER, GLASSTOP RANGE, BREAKFAST AREA, FORMAL DINING, WALK IN CLOSETS, FURNISHED. LOCATED IN A DESIRABLE 55+ COMMUNITY LOW MAINTENANCE FEE $90/MO. OWN YOUR DEEDED LOT. CLUBHOUSE, POOL, MANY ACTIVITIES, SHUFFLEBOARD, BINGO, DANCES AND MORE. COME ENJOY FUN IN SUN AT SW FLORIDA, MAKE NEW FRIENDS, NICE NEIGHBORS. NEARBY RESTAURANTS & SHOPPING.

8. 2015-03-02
   price $89,500 421-char remark

   Show marketing remark (421 chars)

   seller Financing Available On This Stunning & Fantastic 3 Bedroom, Family Rm, Many Updates Include - Laminate Floor & Carpet, Hotwater Tank, Commodes, Window Casings/Sills, Crown Molding, Baseboards, Paint, Glassed In The Fla Rm W/ Air, Kitchen Appliances, Bathroom Floors, All Plumbing Is Pvc, Carport Posts Up To Code, A/C Prox 3 Yrs. , Roofover Done By Previous Owner. Washer & Dryer Does Not Convey.

9. 2005-05-03
   soldstatus $90,000
10. 2005-04-29
    soldstatus $90,000 421-char remark

    Show marketing remark (421 chars)

    seller Financing Available On This Stunning & Fantastic 3 Bedroom, Family Rm, Many Updates Include - Laminate Floor & Carpet, Hotwater Tank, Commodes, Window Casings/Sills, Crown Molding, Baseboards, Paint, Glassed In The Fla Rm W/ Air, Kitchen Appliances, Bathroom Floors, All Plumbing Is Pvc, Carport Posts Up To Code, A/C Prox 3 Yrs. , Roofover Done By Previous Owner. Washer & Dryer Does Not Convey.

11. 2002-03-13
    soldstatus $50,000
12. 2002-02-27
    soldstatus $50,000
13. 2001-11-18
    price $51,900
14. 1985-10-01
    soldstatus $42,000

ⓘ 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: $1,764 · $147/mo
• Projected year-2 tax: $1,764 · $147/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 5/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $20,655
• − Mortgage interest: −$7,842
• − Property taxes: −$1,764
• − Insurance: −$700
• − Repairs & maintenance: −$1,652
• − Management: −$1,652
• − HOA: −$1,368
• − Depreciation: −$4,073
• Taxable income: $1,604
• Est. tax owed @ 24.0%: −$385
• After-tax cash flow: $3,291/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

+233.3% since first listed

12 events — show timeline

• 2026-05-03 Listed $140,000 FORTMLS
• 2020-12-01 Sold (Public Records) $85,000 Public Records
• 2020-11-25 Sold (MLS) $85,000 FORTMLS
• 2020-10-17 Pending — FORTMLS
• 2020-09-29 Listed $89,900 FORTMLS
• 2015-03-02 Price Changed $89,500 FORTMLS
• 2005-05-03 Sold (Public Records) $90,000 Public Records
• 2005-04-29 Sold (MLS) $90,000 FORTMLS
• 2002-03-13 Sold (Public Records) $50,000 Public Records
• 2002-02-27 Sold (MLS) $50,000 FORTMLS
• 2001-11-18 Price Changed $51,900 FORTMLS
• 1985-10-01 Sold (Public Records) $42,000 Public Records

Property tax history

+22.5%/yr

Latest (2025): $1,764 · -2.0% YoY. Source: county tax records.