172 Vista Mar Dr · North Fort Myers, FL 33903

$96,900

1 bd · 1.0 ba · 444 sqft · Manufactured public records · 93 Days on market

Built 1991 2,134 sqft lot Est $67k · 45% over $230/mo HOA · 19% 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 +23.4/30.0
• 1% rule +7.8/10.0
• DSCR +7.5/10.0
• 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

Welcome to Fountain View RV Resort, a vibrant 55+ community that combines comfort and convenience with a variety of amenities. This charming 2-bedroom, 1-bath home features wheelchair access, making it suitable for all mobility needs. New carpet, and has wood laminate floors. Residents enjoy a low monthly fee of just $202.50, which includes access to the community’s refreshing pool, well-maintained shuffleboard courts, and a spacious clubhouse perfect for social events and gatherings. Fountain View RV Resort is more than just a neighborhood—it's a welcoming community where you can stay active, connect with friendly neighbors, and create lasting memories.

Key facts

• Wheelchair access
• Community lake
• New carpet

Tags

• WHEELCHAIR ACCESS
• EXTERIOR ALUMINUM RAMP
• NEW CARPET
• WOOD LAMINATE FLOORING
• NEW WASHER AND DRYER
• COMMUNITY LAKE

Property features AI

Finance

• Financial info: Pets allowed conditionally (call); maximum 1 pet up to 20 lbs
• HOA & community: Homeowners association with monthly fee; HOA fee includes management, cable TV, legal/accounting, grounds maintenance, recreation facilities, reserve fund, road maintenance, sewer, street lights, trash, water; Community amenities: clubhouse, fitness center, pool, spa/hot tub, tennis courts, basketball court, pickleball, bocce, shuffleboard, billiards/billiard room, hobby room, library, barbecue/picnic area, bike storage, storage, laundry, management; Non-gated community with street lights; Senior community; Approximately 330 units in the community

Exterior

• Parking: Porch entry (no specific garage/drive details provided)
• Utilities: Public water; Public sewer; Cable available
• Home design: Manufactured home; Single-story; Entry level: 1; East-facing main entry; Resale property
• Construction: Vinyl siding; Metal and shingle roof
• Exterior features: Open porch; Manual shutters; Community pool; West exposure; Lake view / waterfront

Interior

• Kitchen: Range; Microwave; Refrigerator; Dishwasher
• Bedrooms: Great Room
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom; Separate shower (shower only)
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan(s)
• Interior features: Built-in features; Closet cabinetry; Custom mirrors; High-speed internet; Handicap access / wheelchair accessible; Living/dining room combination; Vaulted ceilings; Window treatments (shutters, sliding, window coverings)
• Laundry & utility: Washer and dryer (inside; common area access as well)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath manufactured listed at $97k.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Recommended offer: $88k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $670 of loan paydown is wiped out by about $3k 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 93 days — a 9% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $13k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→31/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,179 (9.0% below list)

Questions for the listing agent

1. It's been on market 93 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.28% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $66,600
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10 Fountain View Blvd	0.13mi	1/1.5	442 (-0%)	22mo	$66,500	$150	73
169 Vista Mar Dr	0.02mi	1/1.0	386 (-13%)	6mo	$30,000	$78	72

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: -8.2%
• Equity multiple: 0.71×
• Total profit: $-7,879
• Equity at exit: $14,448

10-year hold

• IRR: -3.9%
• Equity multiple: 0.78×
• Total profit: $-5,876
• Equity at exit: $8,378

Cash invested: $27,132 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,240 medium
• Mortgage (P&I): −$508
• Tax from tax record: −$23 /mo · $273/yr
• Insurance: −$40
• HOA: −$230
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $178

Break-even live

Break-even rent $1,014

Max offer price $96,900

Occupancy floor 81%

Sensitivity live

Price	-10% $233	-5% $206	+0% $178	+5% $151	+10% $123
Rent	-10% $80	-5% $129	+0% $178	+5% $227	+10% $276
Rate	-1.0pp $227	-0.5pp $203	base $178	+0.5pp $153	+1.0pp $128

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: $24,225
• Closing costs: $2,907
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $230 · $2,760/yr
• Likely covers: pool

Listing history 19 events

1. 2026-06-17
   days on market $96,900 Active 93 DOM
2. 2026-06-16
   days on market $96,900 Active 92 DOM
3. 2026-06-15
   days on market $96,900 Active 91 DOM
4. 2026-06-13
   days on market $96,900 Active 89 DOM
5. 2026-06-10
   pricedays on market $96,900 Active 86 DOM
6. 2026-06-09
   days on market $104,900 Active 85 DOM
7. 2026-06-07
   days on market $104,900 Active 83 DOM
8. 2026-06-03
   days on market $104,900 Active 79 DOM
9. 2026-06-02
   days on market $104,900 Active 78 DOM
10. 2026-06-01
    days on market $104,900 Active 77 DOM
11. 2026-06-01
    days on market $104,900 Active 76 DOM
12. 2026-04-24
    price $104,900
13. 2026-03-16
    listed $110,000 Active
14. 2025-01-29
    soldstatus $80,000
15. 2025-01-24
    soldstatus $80,000 Closed 674-char remark

    Show marketing remark (674 chars)

    Welcome to Fountain View RV Resort, a vibrant 55+ community that combines comfort and convenience with a variety of amenities. This charming 2-bedroom, 1-bath home features wheelchair access, making it suitable for all mobility needs. New carpet, and has wood laminate floors. Residents enjoy a low monthly fee of just $202.50, which includes access to the community’s refreshing pool, well-maintained shuffleboard courts, and a spacious clubhouse perfect for social events and gatherings. Fountain View RV Resort is more than just a neighborhood—it's a welcoming community where you can stay active, connect with friendly neighbors, and create lasting memories.

16. 2025-01-11
    status Pending 674-char remark

    Show marketing remark (674 chars)

    Welcome to Fountain View RV Resort, a vibrant 55+ community that combines comfort and convenience with a variety of amenities. This charming 2-bedroom, 1-bath home features wheelchair access, making it suitable for all mobility needs. New carpet, and has wood laminate floors. Residents enjoy a low monthly fee of just $202.50, which includes access to the community’s refreshing pool, well-maintained shuffleboard courts, and a spacious clubhouse perfect for social events and gatherings. Fountain View RV Resort is more than just a neighborhood—it's a welcoming community where you can stay active, connect with friendly neighbors, and create lasting memories.

17. 2025-01-07
    listed $85,000 Active 674-char remark

    Show marketing remark (674 chars)

    Welcome to Fountain View RV Resort, a vibrant 55+ community that combines comfort and convenience with a variety of amenities. This charming 2-bedroom, 1-bath home features wheelchair access, making it suitable for all mobility needs. New carpet, and has wood laminate floors. Residents enjoy a low monthly fee of just $202.50, which includes access to the community’s refreshing pool, well-maintained shuffleboard courts, and a spacious clubhouse perfect for social events and gatherings. Fountain View RV Resort is more than just a neighborhood—it's a welcoming community where you can stay active, connect with friendly neighbors, and create lasting memories.

18. 1992-01-16
    soldstatus $15,000
19. 1987-07-01
    soldstatus $16,000

ⓘ 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: $273 · $23/mo
• Projected year-2 tax: $804 · $67/mo
• Expected delta: +$532/yr (+$44/mo · 195.0%)

ⓘ 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 6/10 Major
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 31 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: $14,879
• − Mortgage interest: −$5,428
• − Property taxes: −$273
• − Insurance: −$484
• − Repairs & maintenance: −$1,190
• − Management: −$1,190
• − HOA: −$2,760
• − Depreciation: −$2,819
• Taxable income: $735
• Est. tax owed @ 24.0%: −$176
• After-tax cash flow: $1,963/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

+555.6% since first listed

8 events — show timeline

• 2026-04-24 Price Changed $104,900 FORTMLS
• 2026-03-16 Listed $110,000 FORTMLS
• 2025-01-29 Sold (Public Records) $80,000 Public Records
• 2025-01-24 Sold (MLS) $80,000 FORTMLS
• 2025-01-11 Pending — FORTMLS
• 2025-01-07 Listed $85,000 FORTMLS
• 1992-01-16 Sold (Public Records) $15,000 Public Records
• 1987-07-01 Sold (Public Records) $16,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $273 · +7.1% YoY. Source: county tax records.