3101 Venus Ln · North Fort Myers, FL 33903

$69,900

1 bd · 1.0 ba · 672 sqft · Condo public records · 26 Days on market

Built 1968 $223/mo HOA · 13% of rent

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 MLS

Priced to Sell - $79,900 with a share of Tamiami Village. Charming single-wide, split-plan 2-bedroom, 2-bath manufactured home, updated flooring, kitchen cabinets, vanities and showers. This home sits on one of the largest corner lots in the village, directly across from the Friendship Pool, Hall, and shuffleboard courts. Relax in the add-on Florida room with updated windows and a 10' patio door that completely opens up the room to the Living room. Move-in ready with nice furnishings, a lanai, and washer/dryer in the shed. The low monthly maintenance fee of $213.77 makes this a great value in Tamiami Village, a 55+ community where folks are friendly, active and become family. Within 30 minutes of beaches, parks and attractions, not to mention the Fort Myers downtown is just over the Cleveland bridge. This home offers a great opportunity to enjoy the Florida lifestyle at an affordable rate.

Key facts

• 6,926 sq ft lot
• 2 parking spots
• Community pool

Property features AI

Finance

• Financial info: Pets allowed conditionally (up to 2 pets, max 25 lbs)
• HOA & community: Homeowners association with monthly fee; Association fee covers management, legal/accounting, reserve fund, street lights and trash; Community amenities include clubhouse, fitness center, pool, sauna, billiards, billiard room, library, park, dog park, shuffleboard court and sidewalks; Senior community; On-site management

Exterior

• Parking: Assigned parking; Attached covered carport for two vehicles; Two covered spaces
• Utilities: Public water; Public sewer; Cable available
• Home design: Manufactured home; One story; Entry at level 1; Faces south; Resale property
• Construction: Vinyl siding; Roof over; Manufactured construction
• Exterior features: Storage; Manual shutters; Lanai; Porch (screened); Community pool; Corner, irregular lot; North exposure

Interior

• Kitchen: Electric cooktop; Microwave; Refrigerator; Freezer; Dishwasher
• Bedrooms: Florida room; Screened porch
• Flooring: Laminate; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fans
• Interior features: Eat-in kitchen; Split bedrooms; Shower only with separate shower; Double-hung windows; Furnished
• Laundry & utility: Washer; Dryer; Tankless water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $628 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 17.1% 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• This rent runs 35% 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 $483 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $68,851 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.41% ✓
• Cap rate: 17.07%
• Cash-on-cash: 38.49%
• DSCR: 2.71
• GRM: 3.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 30.6%
• Equity multiple: 2.22×
• Total profit: $23,885
• Equity at exit: $10,422

10-year hold

• IRR: 35.8%
• Equity multiple: 3.75×
• Total profit: $53,876
• Equity at exit: $6,044

Cash invested: $19,572 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,682 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$83 /mo · $993/yr
• Insurance: −$29
• HOA: −$223
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $628

Break-even live

Break-even rent $888

Max offer price $69,900

Occupancy floor 58%

Sensitivity live

Price	-10% $667	-5% $648	+0% $628	+5% $608	+10% $588
Rent	-10% $495	-5% $561	+0% $628	+5% $694	+10% $761
Rate	-1.0pp $663	-0.5pp $646	base $628	+0.5pp $610	+1.0pp $591

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$1,918	$1.97	2d	27	1.02mi
2700 Diplomat Pkwy E Cape Coral, FL	1.0–3.0	1.0–2.0	1116	$1,795	$1.61	3d	41	1.18mi
3940 Villa Del Mar CIR Cape Coral, FL	1.0–3.0	1.0–2.0	1051	$1,494	$1.42	2d	21	1.40mi

HOA detail condo

• Monthly dues: $223 · $2,676/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-05-13
   status Pending
2. 2026-04-24
   status Active
3. 2026-04-15
   status Pending
4. 2026-04-07
   listed $69,900 Active
5. 2025-02-21
   soldstatus $65,000 Closed 902-char remark

   Show marketing remark (902 chars)

   Priced to Sell - $79,900 with a share of Tamiami Village. Charming single-wide, split-plan 2-bedroom, 2-bath manufactured home, updated flooring, kitchen cabinets, vanities and showers. This home sits on one of the largest corner lots in the village, directly across from the Friendship Pool, Hall, and shuffleboard courts. Relax in the add-on Florida room with updated windows and a 10' patio door that completely opens up the room to the Living room. Move-in ready with nice furnishings, a lanai, and washer/dryer in the shed. The low monthly maintenance fee of $213.77 makes this a great value in Tamiami Village, a 55+ community where folks are friendly, active and become family. Within 30 minutes of beaches, parks and attractions, not to mention the Fort Myers downtown is just over the Cleveland bridge. This home offers a great opportunity to enjoy the Florida lifestyle at an affordable rate.

6. 2025-01-17
   status Pending 902-char remark

   Show marketing remark (902 chars)

   Priced to Sell - $79,900 with a share of Tamiami Village. Charming single-wide, split-plan 2-bedroom, 2-bath manufactured home, updated flooring, kitchen cabinets, vanities and showers. This home sits on one of the largest corner lots in the village, directly across from the Friendship Pool, Hall, and shuffleboard courts. Relax in the add-on Florida room with updated windows and a 10' patio door that completely opens up the room to the Living room. Move-in ready with nice furnishings, a lanai, and washer/dryer in the shed. The low monthly maintenance fee of $213.77 makes this a great value in Tamiami Village, a 55+ community where folks are friendly, active and become family. Within 30 minutes of beaches, parks and attractions, not to mention the Fort Myers downtown is just over the Cleveland bridge. This home offers a great opportunity to enjoy the Florida lifestyle at an affordable rate.

7. 2024-11-25
   listed $79,900 Active 902-char remark

   Show marketing remark (902 chars)

   Priced to Sell - $79,900 with a share of Tamiami Village. Charming single-wide, split-plan 2-bedroom, 2-bath manufactured home, updated flooring, kitchen cabinets, vanities and showers. This home sits on one of the largest corner lots in the village, directly across from the Friendship Pool, Hall, and shuffleboard courts. Relax in the add-on Florida room with updated windows and a 10' patio door that completely opens up the room to the Living room. Move-in ready with nice furnishings, a lanai, and washer/dryer in the shed. The low monthly maintenance fee of $213.77 makes this a great value in Tamiami Village, a 55+ community where folks are friendly, active and become family. Within 30 minutes of beaches, parks and attractions, not to mention the Fort Myers downtown is just over the Cleveland bridge. This home offers a great opportunity to enjoy the Florida lifestyle at an affordable rate.

8. 2023-11-18
   historical
9. 2023-05-22
   status Active
10. 2023-05-18
    listed $99,900 Active
11. 2022-07-05
    historical
12. 2022-02-10
    status Pending
13. 2022-02-05
    listed $99,900 Active
14. 1996-07-01
    soldstatus $4,928,000
15. 1996-07-01
    soldstatus $4,928,000

ⓘ 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: $993 · $83/mo
• Projected year-2 tax: $993 · $83/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 3/10 Moderate
• 🌡 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: $20,190
• − Mortgage interest: −$3,915
• − Property taxes: −$993
• − Insurance: −$350
• − Repairs & maintenance: −$1,615
• − Management: −$1,615
• − HOA: −$2,676
• − Depreciation: −$2,033
• Taxable income: $6,993
• Est. tax owed @ 24.0%: −$1,678
• After-tax cash flow: $5,855/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

-98.6% since first listed

15 events — show timeline

• 2026-05-13 Pending — FORTMLS
• 2026-04-24 Relisted — FORTMLS
• 2026-04-15 Pending — FORTMLS
• 2026-04-07 Listed $69,900 FORTMLS
• 2025-02-21 Sold (MLS) $65,000 FORTMLS
• 2025-01-17 Pending — FORTMLS
• 2024-11-25 Listed $79,900 FORTMLS
• 2023-11-18 Listing Removed — FORTMLS
• 2023-05-22 Relisted — FORTMLS
• 2023-05-18 Listed $99,900 FORTMLS
• 2022-07-05 Listing Removed — FORTMLS
• 2022-02-10 Pending — FORTMLS
• 2022-02-05 Listed $99,900 FORTMLS
• 1996-07-01 Sold (Public Records) $4,928,000 Public Records
• 1996-07-01 Sold (Public Records) $4,928,000 Public Records

Property tax history

+6.4%/yr

Latest (2025): $993 · +8.5% YoY. Source: county tax records.