26926 Montego Pointe Ct Unit 202 · Bonita Springs, FL 34135

$5,000

2 bd · 2.0 ba · 2,007 sqft · Condo · 5 Days on market

Built 2000

---

Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Foreclosure Auction Ends June 25, 2026 at 9:00 AM EST. Explore this charming 2-bedroom, 2-bath condo residence set in a peaceful and well-located Bonita Springs community. The list price is the opening bid for the online auction. Sold As-is. Explore more details and submit your bid through Federa Home App.

Key facts

• Built 2000
• Listed 4 days

Property features AI

Finance

• Financial info: Property listed for auction
• HOA & community: No association fee; Association fee includes: Other; No first right of refusal

Exterior

• Utilities: Utilities: Other - see remarks
• Home design: Other property type; Built in 2000; Less than 1/4 acre lot; Zoned OTH - Other Zoning; Subdivision: Other (999.9); Bay/Gulf side location
• Construction: Other construction; Not built above flood
• Exterior features: No waterfront; No water view; Dockage: Other dockage; Deed restrictions: None; Pets: See remarks; Rentals not allowed

Interior

• Bedrooms: Bedroom 1; Bedroom 2
• Bathrooms: 2 full bathrooms
• Interior features: Other appliances included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $5k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $5k).
• Cap rate 522.0% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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).
• This rent runs 36% of the median local income ($91k/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 $35 of loan paydown is wiped out by about $150 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 $1k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $5,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. 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?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 55.27% ✓
• Cap rate: 521.98%
• Cash-on-cash: 1841.75%
• DSCR: 82.95
• GRM: 0.2

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: —
• Equity multiple: 73.20×
• Total profit: $101,080
• Equity at exit: $746

10-year hold

• IRR: —
• Equity multiple: 143.28×
• Total profit: $199,191
• Equity at exit: $432

Cash invested: $1,400 (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: 0.2×

Monthly cashflow live

• Estimated rent: $2,764 medium
• Mortgage (P&I): −$26
• Tax est. 1.5%: −$6 /mo · $75/yr
• Insurance: −$2
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$580
• Net cashflow: $1,722

Break-even live

Break-even rent $584

Max offer price $5,000

Occupancy floor 33%

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: $1,250
• Closing costs: $150
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26926 Montego Pointe Ct #201 Bonita Springs, FL	3.0	2.0	2008	$9,500	$4.73	23d	1	0.01mi
26960 Wyndhurst Ct #202 Bonita Springs, FL	3.0	3.0	2836	$11,000	$3.88	23d	1	0.08mi
26968 Montego Pointe Ct #201 Bonita Springs, FL	3.0	2.0	2008	$4,100	$2.04	23d	1	0.15mi
26871 Wyndhurst Ct #201 Bonita Springs, FL	3.0	3.0	2836	$12,000	$4.23	23d	1	0.17mi
4811 Island Pond Ct #302 Bonita Springs, FL	3.0	3.0	2728	$13,000	$4.77	13d	1	0.20mi
4140 Bayhead Dr #106 Bonita Springs, FL	3.0	2.0	1583	$8,200	$5.18	23d	1	0.36mi
4120 Bayhead Dr #303 Bonita Springs, FL	2.0	2.0	1523	$7,000	$4.60	23d	1	0.44mi
4240 Lake Forest Dr #423 Bonita Springs, FL	2.0	2.0	1450	$6,500	$4.48	23d	1	0.64mi
26850 Wedgewood Dr #202 Bonita Springs, FL	3.0	3.0	1781	$8,500	$4.77	23d	1	0.73mi
27080 Lake Harbor Ct #202 Bonita Springs, FL	3.0	2.0	1654	$7,200	$4.35	23d	1	0.73mi
27080 Lake Harbor Ct #201 Bonita Springs, FL	3.0	2.0	1764	$7,500	$4.25	23d	1	0.73mi
26881 Wedgewood Dr #201 Bonita Springs, FL	3.0	2.0	1640	$8,000	$4.88	23d	1	0.77mi
4951 Bonita Bay Blvd #1503 Bonita Springs, FL	3.0	3.0	2210	$14,000	$6.33	23d	1	0.89mi
4951 Bonita Bay Blvd #501 Bonita Springs, FL	3.0	3.0	2379	$13,000	$5.46	23d	1	0.89mi
4951 Bonita Bay Blvd #1503 Bonita Springs, FL	3.0	3.0	2210	$8,000	$3.62	14d	1	0.89mi
4951 Bonita Bay Blvd #1003 Bonita Springs, FL	3.0	3.0	2068	$11,100	$5.37	16d	1	0.89mi
4951 Bonita Bay Blvd #1503 Bonita Springs, FL	3.0	3.0	2210	$14,500	$6.56	3d	1	0.89mi
4951 Bonita Bay Blvd #901 Bonita Springs, FL	3.0	2.5	2530	$11,000	$4.35	23d	1	0.89mi
4951 Bonita Bay Blvd #1204 Bonita Springs, FL	3.0	3.0	1877	$11,500	$6.13	23d	1	0.89mi
27585 Imperial Shores Blvd Bonita Springs, FL	3.0	3.0	1576	$8,000	$5.08	23d	1	0.89mi
26930 Wedgewood Dr #202 Bonita Springs, FL	2.0	2.0	1620	$5,500	$3.40	23d	1	0.94mi
27579 Big Bend Rd Bonita Springs, FL	3.0	2.0	1512	$2,700	$1.79	23d	1	0.94mi
27038 Oakwood Lake Dr Bonita Springs, FL	3.0	3.0	1818	$8,500	$4.68	23d	1	0.96mi
27119 Oakwood Lake Dr Bonita Springs, FL	3.0	2.5	1812	$7,500	$4.14	23d	1	0.98mi
27121 Oakwood Lake Dr Bonita Springs, FL	3.0	2.5	1892	$8,900	$4.70	3d	1	0.98mi
27113 Oakwood Lake Dr Bonita Springs, FL	3.0	2.5	1879	$7,500	$3.99	23d	1	0.98mi
27190 Oakwood Lake Dr #102 Bonita Springs, FL	3.0	2.0	1603	$7,500	$4.68	23d	1	0.99mi
4879 Esplanade St Bonita Springs, FL	3.0	2.5	1888	$16,000	$8.47	12d	1	1.05mi
27595 Imperial River Rd Bonita Springs, FL	2.0	2.0	2103	$2,700	$1.28	23d	1	1.10mi
27595 Imperial River Rd Bonita Springs, FL	2.0	2.0	2103	$2,700	$1.28	3d	1	1.10mi
4150 Tarpon Ave Bonita Springs, FL	2.0	2.0	2103	$2,700	$1.28	3d	1	1.10mi
4150 Tarpon Ave Bonita Springs, FL	2.0	2.0	2103	$2,700	$1.28	23d	1	1.10mi
27594 Shore Dr Bonita Springs, FL	3.0	2.0	1426	$5,500	$3.86	23d	1	1.17mi
4860 Gary Rd Unit 4 Bonita Springs, FL	3.0	2.0	1875	$2,900	$1.55	23d	1	1.17mi
4212 Rita Ln Bonita Springs, FL	2.0	2.0	1428	$1,475	$1.03	23d	1	1.21mi
4412 Vanda Dr Bonita Springs, FL	3.0	2.0	1800	$2,800	$1.56	23d	1	1.22mi
5731 Marimin Dr Unit 1073514P Bonita Springs, FL	3.0	2.0	2249	$5,637	$2.51	3d	1	1.25mi
27052 Kindlewood Ln Bonita Springs, FL	2.0	2.0	1584	$3,700	$2.34	3d	1	1.27mi
27123 Kindlewood Ln Bonita Springs, FL	2.0	2.0	1715	$4,500	$2.62	23d	1	1.30mi
26773 Hickory Blvd #8 Bonita Springs, FL	2.0	2.0	1444	$6,500	$4.50	23d	1	1.32mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-18
   days on market $5,000 Active 5 DOM
2. 2026-06-17
   days on market $5,000 Active 4 DOM
3. 2026-06-16
   days on market $5,000 Active 3 DOM
4. 2026-06-15
   remarks 307-char remark
5. 2026-06-15
   listed $5,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,163
• − Mortgage interest: −$280
• − Property taxes: −$75
• − Insurance: −$5,144
• − Repairs & maintenance: −$2,653
• − Management: −$2,653
• − Depreciation: −$145
• Taxable income: $22,213
• Est. tax owed @ 24.0%: −$5,331
• After-tax cash flow: $15,335/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

1 event — show timeline

• 2026-06-14 Listed $5,000 FLKMLS