10843 Bonapartes Gull · Estero, FL 33928

$69,500

1 bd · 1.0 ba · 419 sqft · Manufactured public records · 107 Days on market

Built 1984 2,178 sqft lot $13/mo HOA · 1% 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 +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

Discover unbeatable value in the heart of Estero! Featuring a bright living space, efficient kitchen layout, and cozy bedroom, this home provides comfort and convenience. Located just a short drive from Coconut Point, dining, and Gulf beaches, you’ll love the lifestyle this location provides.

Key facts

• Gulf beaches
• Heart of estero
• 2,178 sq ft lot

Tags

• EFFICIENT KITCHEN LAYOUT
• SHORT DRIVE FROM COCONUT POINT
• GULF BEACHES
• HEART OF ESTERO

Property features AI

Finance

• Other: Zoning code: RV; Lot area approximately 0.05 acres; Irrigation: Central; Restrictions: See remarks; Property measured by Property Appraiser Office
• Financial info: No additional financial details provided
• HOA & community: Mandatory HOA managed by residents; Annual HOA fee of $150; Community amenities include a play area and tennis court; Community type: Mobile/Manufactured

Exterior

• Parking: No specific parking details provided
• Security: No specific security features provided
• Utilities: Central water; Central sewer; Cable available
• Home design: Manufactured home; Residential property; Single-story; Rear exposure faces southeast; Located in Corkscrew Woodlands
• Construction: Built in 1984; Aluminum siding exterior; Metal roof
• Exterior features: Patio; See remarks for windows and storm protection

Interior

• Kitchen: Range; Refrigerator
• Bedrooms: 1 bedroom
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: 1 full bathroom; Master bathroom with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: 3 total rooms; Dining area combined with living space; Unfurnished; See remarks for additional interior details
• Laundry & utility: Central utilities

What this means for you Summary

Snapshot

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

Deal economics

• At list price, monthly cash flow is $673 ($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: $63k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.5% vs local median 3.4% in Estero — 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 79/100 on livability (#149 in FL, #2,242 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Pinewoods Elementary School (math 81% / reading 74%, grade A, #163 of 2,144 statewide, top 8%, 1,089 students, 25% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL) — zoned schools average 39% FRL vs 57% district-wide (18 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-1.4%/yr); 674 active listings in the ZIP; 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 $481 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 $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $152/mo.
• Climate carrying-cost: in FEMA flood zone AH (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→28/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,245 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. 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.
8. 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.
9. 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: 2.40% ✓
• Cap rate: 20.53%
• Cash-on-cash: 50.86%
• DSCR: 3.26
• 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: 34.2%
• Equity multiple: 2.38×
• Total profit: $26,821
• Equity at exit: $10,363

10-year hold

• IRR: 39.2%
• Equity multiple: 4.09×
• Total profit: $60,151
• Equity at exit: $6,009

Cash invested: $19,460 (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 33928

• Rents YoY: -1.4%
• Active inventory: 674
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,667 medium
• Mortgage (P&I): −$364
• Tax from tax record: −$86 /mo · $1,033/yr
• Insurance: −$29
• Flood insurance flood zone: −$152 /mo · $1,824/yr
• HOA: −$13
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $673

Break-even live

Break-even rent $816

Max offer price $69,500

Occupancy floor 55%

Sensitivity live

Price	-10% $712	-5% $692	+0% $673	+5% $653	+10% $633
Rent	-10% $541	-5% $607	+0% $673	+5% $739	+10% $804
Rate	-1.0pp $708	-0.5pp $690	base $673	+0.5pp $655	+1.0pp $636

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $13 · $156/yr

Listing history 15 events

1. 2026-06-15
   days on market $69,500 Active 107 DOM
2. 2026-06-13
   days on market $69,500 Active 105 DOM
3. 2026-06-10
   days on market $69,500 Active 102 DOM
4. 2026-06-09
   days on market $69,500 Active 101 DOM
5. 2026-06-07
   days on market $69,500 Active 99 DOM
6. 2026-06-02
   days on market $69,500 Active 94 DOM
7. 2026-06-01
   days on market $69,500 Active 93 DOM
8. 2026-06-01
   days on market $69,500 Active 92 DOM
9. 2026-05-06
   price $69,500
10. 2026-04-27
    price $69,999
11. 2026-04-20
    price $72,000
12. 2026-04-14
    price $74,000
13. 2026-03-09
    price $74,999
14. 2026-02-28
    listed $79,999 Active
15. 2016-12-14
    soldstatus $65,000

ⓘ 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: $1,033 · $86/mo
• Projected year-2 tax: $1,033 · $86/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 4/10 Moderate FEMA zone AH · 13% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 28 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: $20,009
• − Mortgage interest: −$3,893
• − Property taxes: −$1,033
• − Insurance: −$2,172
• − Repairs & maintenance: −$1,601
• − Management: −$1,601
• − HOA: −$156
• − Depreciation: −$2,022
• Taxable income: $7,531
• Est. tax owed @ 24.0%: −$1,808
• After-tax cash flow: $6,265/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 — Estero

• Score: 79/100
• State rank: #149
• US rank: #2242

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Estero, FL
• County: Lee County · 788,662 people
• City population: 31,926
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 31,926
• Household income: $102,624
• Rent vs Own: 12.6% rent · 87.4% own
• Severe rent burden: 606.0

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 8% Two or more races 7% Asian 3% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Cuban 1%
• Common ancestry: Romanian 5% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, China, Jamaica
• Languages at home: 90% English-only · Spanish 5% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -109.49%
• Current HPI: 197.5913
• Rent YoY: ▼ -1.42%
• 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

+6.9% since first listed

7 events — show timeline

• 2026-05-06 Price Changed $69,500 NAPLESMLS
• 2026-04-27 Price Changed $69,999 NAPLESMLS
• 2026-04-20 Price Changed $72,000 NAPLESMLS
• 2026-04-14 Price Changed $74,000 NAPLESMLS
• 2026-03-09 Price Changed $74,999 NAPLESMLS
• 2026-02-28 Listed $79,999 NAPLESMLS
• 2016-12-14 Sold (Public Records) $65,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $1,033 · -5.3% YoY. Source: county tax records.