108 Snead Dr · North Fort Myers, FL 33903

$104,900

2 bd · 2.0 ba · 1,221 sqft · Condo public records · 151 Days on market

Built 1984 $492/mo HOA · 28% 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 +25.7/30.0
• 1% rule +10.0/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• 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

Don't miss this exceptional opportunity to own a home in the exclusive Six Lakes Country Club. This vibrant 55+ community offers an unmatched array of amenities for active, social connections. Tee off anytime on the beautifully maintained private 1-hole executive par-60 golf course, or enjoy friendly competition on the pickleball, tennis, or shuffleboard courts. Stay energized with line dancing - no experience needed. Residents enjoy a full calendar of activities in a resort-style setting, all just 30 minutes from Punta Gorda and Ft. Myers airports. Live the Lifestyle You Deserve in Six Lakes Country Club! Don’t miss your chance to own a home in the highly sought-after Six Lakes Count

Key facts

• Top-rated hospitals
• Resort-style living
• 4,486 sq ft lot

Tags

• FULL CALENDAR OF ACTIVITIES
• RESORT-STYLE LIVING
• TOP-RATED HOSPITALS

Property features AI

Finance

• Other: Located in a senior community; Community features include golf and street lights; Zoning: MH-2; One unit in the community
• Financial info: Quarterly association fee (amount listed in records)
• HOA & community: Homeowners association with quarterly fee; Association amenities include clubhouse, fitness center, pool, spa/hot tub, billiards, library, media room, restaurant, golf, putting green, pickleball, shuffleboard, and on-site management; Association fee covers management, cable TV, internet, road maintenance, and street lights

Exterior

• Parking: Attached carport; 2 covered carport spaces
• Utilities: Cable available; High speed internet available; Water assessment paid; Sewer assessment paid
• Home design: Manufactured home; Single-story; Resale property; Vinyl siding
• Construction: Metal roof
• Exterior features: Community pool; No additional exterior features listed; Rectangular lot; Lot dimensions approximately 51 x 80 x 62 x 80; Property faces east; Lot exposure to the west

Interior

• Kitchen: Electric cooktop; Microwave; Dishwasher; Refrigerator
• Bedrooms: Includes Florida room; Includes great room
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Cathedral ceilings; Open family/dining area; Combined living and dining room; Cable TV available; High speed internet available; Single-hung windows; Furnished
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $105k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 38% 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 $725 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 151 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 4→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.70% ✓
• Cap rate: 9.17%
• Cash-on-cash: 10.29%
• DSCR: 1.46
• GRM: 4.9

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: -5.6%
• Equity multiple: 0.80×
• Total profit: $-5,893
• Equity at exit: $15,641

10-year hold

• IRR: -2.2%
• Equity multiple: 0.88×
• Total profit: $-3,475
• Equity at exit: $9,070

Cash invested: $29,372 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,781 high
• Mortgage (P&I): −$550
• Tax from tax record: −$70 /mo · $837/yr
• Insurance: −$44
• HOA: −$492
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $252

Break-even live

Break-even rent $1,463

Max offer price $104,900

Occupancy floor 81%

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: $26,225
• Closing costs: $3,147
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2700 Diplomat Pkwy E Cape Coral, FL	1.0–3.0	1.0–2.0	1116	$2,382	$2.13	3d	41	0.30mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	23d	1	0.38mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,371	$2.43	1d	27	0.46mi
3050 Steeple Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1003	$1,668	$1.66	2d	27	0.64mi
571 Sunrise Ln North Fort Myers, FL	2.0	2.0	1004	$1,400	$1.39	23d	1	0.65mi
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	14d	1	0.69mi
538 State St North Fort Myers, FL	3.0	1.5	1000	$1,199	$1.20	23d	1	0.73mi
446 San Bernardino St North Fort Myers, FL	2.0	1.0	1104	$1,590	$1.44	10d	1	0.87mi
2627 Riverfield Rd Cape Coral, FL	3.0	2.5	1324	$1,424	$1.08	23d	1	0.88mi
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	3d	1	0.99mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	3d	1	1.01mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	23d	1	1.04mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	23d	1	1.04mi
2309 NE 15th Ln Cape Coral, FL	3.0	2.0	1250	$1,595	$1.28	3d	1	1.16mi
2505 Liberty Park Dr Cape Coral, FL	1.0–2.0	1.0–2.0	1092	$2,203	$2.02	2d	14	1.20mi
2500 Ne Pine Island Rd North Fort Myers, FL	1.0–3.0	1.0–2.0	962	$2,018	$2.10	3d	19	1.24mi
2221 NE 15th Ln Cape Coral, FL	2.0	2.0	1400	$1,675	$1.20	16d	1	1.25mi
2116 NE 25th St Cape Coral, FL	3.0	2.0	1352	$1,891	$1.40	3d	1	1.40mi
1310 Thompson St North Fort Myers, FL	3.0	3.0	1387	$2,800	$2.02	23d	1	1.42mi
1125 Winding Pines Cir #207 Cape Coral, FL	2.0	2.0	1338	$1,550	$1.16	23d	1	1.46mi
1288 Waite Dr North Fort Myers, FL	2.0	2.0	972	$2,200	$2.26	23d	1	1.48mi

HOA detail condo

• Monthly dues: $492 · $5,904/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-17
   days on market $104,900 Active 151 DOM
2. 2026-06-16
   days on market $104,900 Active 150 DOM
3. 2026-06-15
   days on market $104,900 Active 149 DOM
4. 2026-06-13
   days on market $104,900 Active 147 DOM
5. 2026-06-10
   days on market $104,900 Active 144 DOM
6. 2026-06-09
   days on market $104,900 Active 143 DOM
7. 2026-06-07
   days on market $104,900 Active 141 DOM
8. 2026-06-02
   days on market $104,900 Active 136 DOM
9. 2026-06-01
   days on market $104,900 Active 135 DOM
10. 2026-06-01
    days on market $104,900 Active 134 DOM
11. 2026-04-16
    price $104,900
12. 2026-01-17
    listed $109,900 Active
13. 2025-12-31
    historical
14. 2025-07-21
    price $110,000
15. 2025-06-28
    price $117,000
16. 2025-03-27
    price $119,000
17. 2025-03-03
    price $129,000
18. 2025-02-17
    listed $139,000 Active
19. 2025-01-09
    historical
20. 2024-11-14
    price $149,900
21. 2024-02-21
    price $162,900
22. 2024-01-20
    listed $172,000 Active
23. 2023-12-02
    historical
24. 2023-08-07
    price $119,000
25. 2023-05-05
    listed $126,000 Active
26. 2021-05-13
    soldstatus $100,000 Closed
27. 2021-04-26
    status Pending
28. 2021-04-22
    status Active
29. 2021-04-02
    status Pending
30. 2021-03-04
    listed $105,000 Active
31. 2014-02-14
    price $62,500
32. 2014-02-14
    soldstatus $58,900

ⓘ 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: $837 · $70/mo
• Projected year-2 tax: $871 · $73/mo
• Expected delta: +$34/yr (+$3/mo · 4.1%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 4 d/yr ≥106°F today · 18 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: $21,377
• − Mortgage interest: −$5,876
• − Property taxes: −$837
• − Insurance: −$524
• − Repairs & maintenance: −$1,710
• − Management: −$1,710
• − HOA: −$5,904
• − Depreciation: −$3,052
• Taxable income: $1,764
• Est. tax owed @ 24.0%: −$423
• After-tax cash flow: $2,598/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

+67.8% since first listed

22 events — show timeline

• 2026-04-16 Price Changed $104,900 FORTMLS
• 2026-01-17 Listed $109,900 FORTMLS
• 2025-12-31 Listing Removed — FORTMLS
• 2025-07-21 Price Changed $110,000 FORTMLS
• 2025-06-28 Price Changed $117,000 FORTMLS
• 2025-03-27 Price Changed $119,000 FORTMLS
• 2025-03-03 Price Changed $129,000 FORTMLS
• 2025-02-17 Listed $139,000 FORTMLS
• 2025-01-09 Listing Removed — FORTMLS
• 2024-11-14 Price Changed $149,900 FORTMLS
• 2024-02-21 Price Changed $162,900 FORTMLS
• 2024-01-20 Listed $172,000 FORTMLS
• 2023-12-02 Listing Removed — FORTMLS
• 2023-08-07 Price Changed $119,000 FORTMLS
• 2023-05-05 Listed $126,000 FORTMLS
• 2021-05-13 Sold (MLS) $100,000 FORTMLS
• 2021-04-26 Pending — FORTMLS
• 2021-04-22 Relisted — FORTMLS
• 2021-04-02 Pending — FORTMLS
• 2021-03-04 Listed $105,000 FORTMLS
• 2014-02-14 Sold (MLS) $58,900 FORTMLS
• 2014-02-14 Price Changed $62,500 FORTMLS

Property tax history

-1.0%/yr

Latest (2025): $837 · +4.4% YoY. Source: county tax records.