1211 Barrett Rd #1108 · North Fort Myers, FL 33903

$120,000

2 bd · 2.0 ba · 812 sqft · Condo public records · 83 Days on market

Built 1983 $278/mo HOA · 18% 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 +18.8/30.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• 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

Opportunity awaits in this 2-bedroom, 2-bath condo located in the gated North Fort Myers community of Country Pines. Priced to sell and currently the lowest-priced condo in the development, this is a rare chance to find an affordable property in a hard-to-find price range. Whether you are looking for a full-time residence, winter getaway, or investment opportunity, this move-in-ready home offers excellent value and plenty of potential to make it your own. Beautifully maintained and updated, it also features a new HVAC installed in March 2026. Country Pines offers affordable association dues, a gated entrance, full perimeter fencing, and more than 5 acres of beautifully landscaped grounds wi

Key facts

• $278 HOA
• Parking
• Community pool

Property features AI

Finance

• Other: Pets allowed conditionally — contact for details; maximum 1 pet up to 25 lbs
• HOA & community: Homeowners association with quarterly fee; Quarterly association fee of $835; Association covers management, insurance, legal/accounting, grounds maintenance, pest control, recreation facilities, street lights and trash; Community amenities include pool, barbecue, picnic area and sidewalks

Exterior

• Parking: Assigned parking (one space)
• Security: Gated community; Street lights
• Utilities: Cable available; Public water; Public sewer
• Home design: 2-story building; Entry level: 2; Faces east; Resale property
• Construction: Block, concrete and stucco construction; Shingle roof
• Exterior features: Balcony; Community pool; Paved road access; West exposure

Interior

• Kitchen: Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Other (room type listed as Other)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Furnished; Living/dining room; Pantry; Shower-only bath with separate shower; Single-hung windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $120k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $113k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 30 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 32% 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 $830 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 83 days — a 6% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $40k; list at $120k implies a 201% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $112,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% 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. 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.28% ✓
• Cap rate: 7.51%
• Cash-on-cash: 4.34%
• DSCR: 1.19
• GRM: 6.5

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: -13.8%
• Equity multiple: 0.52×
• Total profit: $-16,016
• Equity at exit: $17,892

10-year hold

• IRR: -12.6%
• Equity multiple: 0.39×
• Total profit: $-20,602
• Equity at exit: $10,375

Cash invested: $33,600 (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: $1,534 high
• Mortgage (P&I): −$629
• Tax from tax record: −$133 /mo · $1,592/yr
• Insurance: −$50
• HOA: −$278
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $122

Break-even live

Break-even rent $1,380

Max offer price $120,000

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
750 Pondella Rd North Fort Myers, FL	2.0–3.0	1.0–2.0	1200	$1,099	$0.92	2d	6	0.11mi
1288 Waite Dr North Fort Myers, FL	2.0	2.0	972	$2,200	$2.26	24d	1	0.49mi
1260 Joerin Ave North Fort Myers, FL	1.0	1.0	936	$1,105	$1.18	24d	1	0.53mi
2500 Ne Pine Island Rd North Fort Myers, FL	1.0–3.0	1.0–2.0	962	$2,018	$2.10	3d	19	0.82mi
3050 Steeple Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1003	$1,668	$1.66	3d	27	0.85mi
1100 Pondella Rd Cape Coral, FL	2.0	2.0	938	$1,600	$1.71	3d	1	0.88mi
521 NE 24th Pl Apt 2 Cape Coral, FL	2.0	2.0	1090	$1,400	$1.28	24d	1	0.89mi
509 NE 24th Pl Unit A Cape Coral, FL	2.0	2.0	1113	$1,395	$1.25	3d	1	0.92mi
509 NE 24th Pl Unit A Cape Coral, FL	2.0	2.0	1113	$1,445	$1.30	19d	1	0.92mi
501 NE 24th Pl Unit 501 Cape Coral, FL	2.0	1.0	891	$1,400	$1.57	24d	1	0.94mi
2505 Liberty Park Dr Cape Coral, FL	1.0–2.0	1.0–2.0	1092	$2,203	$2.02	3d	14	0.99mi
2308 NE 6th St Cape Coral, FL	2.0	1.0	1009	$1,450	$1.44	16d	1	1.04mi
2308 NE 6th St Unit 1 Cape Coral, FL	2.0	1.5	1009	$1,450	$1.44	20d	1	1.04mi
2303 NE 6th St #3 Cape Coral, FL	2.0	1.0	861	$1,400	$1.63	24d	1	1.04mi
325 NE 23rd Ave Cape Coral, FL	3.0	2.0	1104	$1,496	$1.36	3d	1	1.14mi
8049 Stillwater Ct North Fort Myers, FL	1.0–2.0	1.0–2.0	720	$1,600	$2.22	24d	1	1.18mi
2700 Diplomat Pkwy E Cape Coral, FL	1.0–3.0	1.0–2.0	1116	$2,382	$2.13	3d	41	1.20mi
4789 Orange Grove Blvd #12 North Fort Myers, FL	2.0	1.0	741	$1,300	$1.75	3d	1	1.29mi
4789 Orange Grove Blvd North Fort Myers, FL	2.0	1.0	741	$1,300	$1.75	21d	1	1.29mi
4773 Orange Grove Blvd #7 North Fort Myers, FL	2.0	1.0	741	$1,500	$2.02	24d	1	1.30mi
446 San Bernardino St North Fort Myers, FL	2.0	1.0	1104	$1,590	$1.44	10d	1	1.31mi
4777 Orange Grove Blvd North Fort Myers, FL	2.0	1.0	741	$1,200	$1.62	24d	1	1.31mi
240 W Mariana Ave Apt B North Fort Myers, FL	1.0	1.0	600	$1,295	$2.16	24d	1	1.33mi
4749 # F3 # N Unit Orange Grove Blvd unit North Fort Myers, FL	2.0	1.0	741	$1,095	$1.48	24d	1	1.35mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,371	$2.43	2d	27	1.35mi
538 State St North Fort Myers, FL	3.0	1.5	1000	$1,199	$1.20	24d	1	1.37mi
4495 Frankie Ct North Fort Myers, FL	2.0	1.5	1000	$1,295	$1.29	24d	1	1.44mi
3490 N Key Dr #203 North Fort Myers, FL	1.0	1.5	840	$1,300	$1.55	24d	1	1.45mi
3490 N Key Dr #514 North Fort Myers, FL	2.0	2.0	1103	$1,495	$1.36	24d	1	1.45mi
3460 N Key Dr #203 North Fort Myers, FL	1.0	1.5	840	$3,250	$3.87	24d	1	1.49mi

HOA detail condo

• Monthly dues: $278 · $3,336/yr
• Likely covers: landscapingsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-17
   days on market $120,000 Active 83 DOM
2. 2026-06-16
   days on market $120,000 Active 82 DOM
3. 2026-06-15
   days on market $120,000 Active 81 DOM
4. 2026-06-13
   days on market $120,000 Active 79 DOM
5. 2026-06-10
   days on market $120,000 Active 76 DOM
6. 2026-06-09
   days on market $120,000 Active 75 DOM
7. 2026-06-07
   days on market $120,000 Active 73 DOM
8. 2026-06-03
   days on market $120,000 Active 69 DOM
9. 2026-06-02
   days on market $120,000 Active 68 DOM
10. 2026-06-01
    days on market $120,000 Active 67 DOM
11. 2026-06-01
    days on market $120,000 Active 66 DOM
12. 2026-05-13
    price $120,000
13. 2026-03-24
    listed $125,000 Active
14. 1983-08-01
    soldstatus $39,900

ⓘ 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: $1,592 · $133/mo
• Projected year-2 tax: $1,592 · $133/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 5/10 Major FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°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: $18,402
• − Mortgage interest: −$6,722
• − Property taxes: −$1,592
• − Insurance: −$600
• − Repairs & maintenance: −$1,472
• − Management: −$1,472
• − HOA: −$3,336
• − Depreciation: −$3,491
• Taxable loss: −$283
• Est. tax savings @ 24.0%: +$68
• After-tax cash flow: $1,526/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

+200.8% since first listed

3 events — show timeline

• 2026-05-13 Price Changed $120,000 FORTMLS
• 2026-03-24 Listed $125,000 FORTMLS
• 1983-08-01 Sold (Public Records) $39,900 Public Records

Property tax history

+10.7%/yr

Latest (2025): $1,592 · -6.3% YoY. Source: county tax records.