10580 Wales Loop · Bonita Springs, FL 34135

$122,500

2 bd · 2.0 ba · 845 sqft · Condo public records · 81 Days on market

Built 1992 $95/mo HOA

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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 +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Own a warm weather slice of the South! Great location to all the best shops, beaches, restaurants and more! LOW monthly fee of $95. includes community amenities (pool, clubhouse, etc. ) and lawn care & maintenance. Boat storage is also available. Spacious, furnished unit with lots of storage. Update this 2/2 manufactured home as needed or live in/rent as is. Rare availability in this area. This is a 55+, Co-Op community. Cash only please.

Key facts

• 5,227 sq ft lot
• Parking
• Community pool

🏢 Co-op / cooperative unit. The $122,500 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $122k.

Deal economics

• At list price, monthly cash flow is $878 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $115k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.9% vs local median 1.7% in Bonita Springs — 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 70/100 on livability (#428 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A+, employment A; Watch: schools C-, cost of living C-, health & safety D.
• 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 (-0.6%/yr); 835 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $847 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 81 days — a 6% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y ago; this cycle's ask has dropped $21k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $115,150 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 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: 1.85% ✓
• Cap rate: 14.89%
• Cash-on-cash: 30.72%
• DSCR: 2.37
• GRM: 4.5

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: 21.9%
• Equity multiple: 1.86×
• Total profit: $29,497
• Equity at exit: $18,265

10-year hold

• IRR: 27.8%
• Equity multiple: 3.11×
• Total profit: $72,298
• Equity at exit: $10,592

Cash invested: $34,300 (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 34135

• Rents YoY: -0.6%
• Active inventory: 835
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,270 high
• Mortgage (P&I): −$642
• Tax from tax record: −$127 /mo · $1,521/yr
• Insurance: −$51
• HOA: −$95
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $878

Break-even live

Break-even rent $1,158

Max offer price $122,500

Occupancy floor 56%

Sensitivity live

Price	-10% $947	-5% $913	+0% $878	+5% $843	+10% $809
Rent	-10% $699	-5% $788	+0% $878	+5% $968	+10% $1,057
Rate	-1.0pp $940	-0.5pp $909	base $878	+0.5pp $846	+1.0pp $814

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: $30,625
• Closing costs: $3,675
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10101 Sandy Hollow Ln #102 Bonita Springs, FL	2.0	2.5	808	$1,645	$2.04	24d	1	0.26mi
10325 Tarrah Ln Unit 1073517P Bonita Springs, FL	2.0	1.0	818	$4,608	$5.63	3d	1	0.33mi
25806 Cockleshell Dr #314 Bonita Springs, FL	2.0	2.0	975	$1,800	$1.85	24d	1	0.38mi
10710 Rosemary Dr #712 Bonita Springs, FL	1.0	1.0	984	$1,750	$1.78	24d	1	0.64mi
25480 Cockleshell Dr #1005 Bonita Springs, FL	2.0	2.5	1119	$4,600	$4.11	24d	1	0.65mi
26239 Bonita Fairways Cir Bonita Springs, FL	2.0	2.0	1088	$2,500	$2.30	24d	1	0.82mi
27020 Williams Rd #5 Bonita Springs, FL	1.0	1.0	595	$1,700	$2.86	24d	1	0.99mi
10041 Maddox Ln #203 Bonita Springs, FL	3.0	2.0	1083	$5,000	$4.62	24d	1	1.14mi
26589-610 Rosewood Pointe Dr Unit A 301 Bonita Springs, FL	2.0	2.0	986	$3,500	$3.55	24d	1	1.14mi
10897 Goodwin St #899 Bonita Springs, FL	2.0	1.0	770	$1,950	$2.53	24d	1	1.14mi
26600 Rosewood Pointe Dr Unit B-101 Bonita Springs, FL	2.0	2.0	983	$2,200	$2.24	4d	1	1.16mi
26600 Rosewood Pointe Dr Unit 102 Bonita Springs, FL	1.0	2.0	833	$2,900	$3.48	4d	1	1.16mi
27083 Matheson Ave #208 Bonita Springs, FL	2.0	2.0	970	$1,750	$1.80	24d	1	1.16mi
27250 Shriver Ave Unit 1073504P Bonita Springs, FL	2.0	1.0	661	$4,275	$6.46	4d	2	1.18mi
9250 Highland Woods Blvd #2308 Bonita Springs, FL	2.0	2.0	1100	$1,995	$1.81	4d	1	1.18mi
9250 Highland Woods Blvd #2308 Bonita Springs, FL	2.0	2.0	1100	$1,995	$1.81	24d	1	1.18mi
9450 Highland Woods Blvd #6203 Bonita Springs, FL	2.0	2.0	1100	$6,000	$5.45	15d	1	1.18mi
27249 Pullen Ave #4 Bonita Springs, FL	2.0	2.5	956	$3,200	$3.35	24d	1	1.19mi
27249 Pullen Ave #5 Bonita Springs, FL	2.0	2.0	956	$1,950	$2.04	24d	1	1.19mi
9200 Highland Woods Blvd Bonita Springs, FL	2.0	2.0	1083	$4,050	$3.74	16d	3	1.23mi
10725 Wilson St #11 Bonita Springs, FL	2.0	12.0	1008	$1,800	$1.79	24d	1	1.24mi
27095 Matheson Ave #206 Bonita Springs, FL	1.0	1.0	715	$1,500	$2.10	24d	1	1.25mi
27103 Matheson Ave #206 Bonita Springs, FL	1.0	1.0	713	$1,700	$2.38	15d	1	1.26mi
27103 Matheson Ave #206 Bonita Springs, FL	1.0	1.0	770	$1,500	$1.95	24d	1	1.26mi
27107 Matheson Ave Unit 4-108 Bonita Springs, FL	2.0	2.0	975	$3,995	$4.10	24d	1	1.28mi
27302 Dortch Ave #304 Bonita Springs, FL	2.0	1.0	800	$2,550	$3.19	3d	1	1.29mi
27109 Matheson Ave Unit 206 Bonita Springs, FL	1.0	1.0	770	$1,700	$2.21	4d	1	1.30mi
27123 Matheson Ave #106 Bonita Springs, FL	1.0	1.0	713	$1,600	$2.24	24d	1	1.31mi
27123 Matheson Ave Bonita Springs, FL	2.0	2.0	970	$1,300	$1.34	4d	1	1.32mi

HOA detail condo

• Monthly dues: $95 · $1,140/yr
• Likely covers: landscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-04-27
   status Pending
2. 2026-04-22
   price $122,500
3. 2026-04-03
   price $138,000
4. 2026-03-12
   price $143,000
5. 2026-02-05
   listed $143,500 Active
6. 2025-05-05
   soldstatus $140,000 Closed 452-char remark

   Show marketing remark (452 chars)

   Own a warm weather slice of the South! Great location to all the best shops, beaches, restaurants and more! LOW monthly fee of $95. includes community amenities (pool, clubhouse, etc. ) and lawn care & maintenance. Boat storage is also available. Spacious, furnished unit with lots of storage. Update this 2/2 manufactured home as needed or live in/rent as is. Rare availability in this area. This is a 55+, Co-Op community. Cash only please.

7. 2025-04-15
   status Pending 452-char remark

   Show marketing remark (452 chars)

   Own a warm weather slice of the South! Great location to all the best shops, beaches, restaurants and more! LOW monthly fee of $95. includes community amenities (pool, clubhouse, etc. ) and lawn care & maintenance. Boat storage is also available. Spacious, furnished unit with lots of storage. Update this 2/2 manufactured home as needed or live in/rent as is. Rare availability in this area. This is a 55+, Co-Op community. Cash only please.

8. 2025-03-14
   status Active 452-char remark

   Show marketing remark (452 chars)

   Own a warm weather slice of the South! Great location to all the best shops, beaches, restaurants and more! LOW monthly fee of $95. includes community amenities (pool, clubhouse, etc. ) and lawn care & maintenance. Boat storage is also available. Spacious, furnished unit with lots of storage. Update this 2/2 manufactured home as needed or live in/rent as is. Rare availability in this area. This is a 55+, Co-Op community. Cash only please.

9. 2025-03-14
   price $165,000 452-char remark

   Show marketing remark (452 chars)

   Own a warm weather slice of the South! Great location to all the best shops, beaches, restaurants and more! LOW monthly fee of $95. includes community amenities (pool, clubhouse, etc. ) and lawn care & maintenance. Boat storage is also available. Spacious, furnished unit with lots of storage. Update this 2/2 manufactured home as needed or live in/rent as is. Rare availability in this area. This is a 55+, Co-Op community. Cash only please.

10. 2024-06-29
    historical 452-char remark

    Show marketing remark (452 chars)

    Own a warm weather slice of the South! Great location to all the best shops, beaches, restaurants and more! LOW monthly fee of $95. includes community amenities (pool, clubhouse, etc. ) and lawn care & maintenance. Boat storage is also available. Spacious, furnished unit with lots of storage. Update this 2/2 manufactured home as needed or live in/rent as is. Rare availability in this area. This is a 55+, Co-Op community. Cash only please.

11. 2024-02-15
    price $179,000 452-char remark

    Show marketing remark (452 chars)

    Own a warm weather slice of the South! Great location to all the best shops, beaches, restaurants and more! LOW monthly fee of $95. includes community amenities (pool, clubhouse, etc. ) and lawn care & maintenance. Boat storage is also available. Spacious, furnished unit with lots of storage. Update this 2/2 manufactured home as needed or live in/rent as is. Rare availability in this area. This is a 55+, Co-Op community. Cash only please.

12. 2024-01-20
    listed $189,000 Active 452-char remark

    Show marketing remark (452 chars)

    Own a warm weather slice of the South! Great location to all the best shops, beaches, restaurants and more! LOW monthly fee of $95. includes community amenities (pool, clubhouse, etc. ) and lawn care & maintenance. Boat storage is also available. Spacious, furnished unit with lots of storage. Update this 2/2 manufactured home as needed or live in/rent as is. Rare availability in this area. This is a 55+, Co-Op community. Cash only please.

13. 2010-11-19
    historical
14. 2010-10-15
    listed $85,000

ⓘ 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: $1,521 · $127/mo
• Projected year-2 tax: $1,521 · $127/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) · 43% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,239
• − Mortgage interest: −$6,862
• − Property taxes: −$1,521
• − Insurance: −$612
• − Repairs & maintenance: −$2,179
• − Management: −$2,179
• − HOA: −$1,140
• − Depreciation: −$3,564
• Taxable income: $9,182
• Est. tax owed @ 24.0%: −$2,204
• After-tax cash flow: $8,333/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 — Bonita Springs

• Score: 70/100
• State rank: #428
• US rank: #7576

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bonita Springs, FL
• County: Lee County · 788,662 people
• City population: 64,727
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 48,252
• Household income: $91,380
• Rent vs Own: 17.7% rent · 82.3% own
• Severe rent burden: 976.0

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 (69%)
• Race & ethnicity: White 69% Hispanic / Latino 26% Two or more races 13% Native American 3% Black 2%
• Hispanic origin (detail): Mexican 8% Puerto Rican 4% Cuban 3%
• Common ancestry: Romanian 5% Lithuanian 2% Slovak 2%
• Foreign-born: 22% · Canada, Jamaica
• Languages at home: 74% English-only · Spanish 21% French/Haitian/Cajun 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: ▼ -188.86%
• Current HPI: 243.4153
• Rent YoY: ▼ -0.61%
• 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

+44.1% since first listed

14 events — show timeline

• 2026-04-27 Pending — FORTMLS
• 2026-04-22 Price Changed $122,500 FORTMLS
• 2026-04-03 Price Changed $138,000 FORTMLS
• 2026-03-12 Price Changed $143,000 FORTMLS
• 2026-02-05 Listed $143,500 FORTMLS
• 2025-05-05 Sold (MLS) $140,000 FORTMLS
• 2025-04-15 Pending — FORTMLS
• 2025-03-14 Relisted — FORTMLS
• 2025-03-14 Price Changed $165,000 FORTMLS
• 2024-06-29 Listing Removed — FORTMLS
• 2024-02-15 Price Changed $179,000 FORTMLS
• 2024-01-20 Listed $189,000 FORTMLS
• 2010-11-19 Listing Removed — NAPLESMLS
• 2010-10-15 Listed $85,000 NAPLESMLS

Property tax history

+5.0%/yr

Latest (2025): $1,521 · +6.2% YoY. Source: county tax records.