1132 River Rd · North Fort Myers, FL 33903

$157,900

3 bd · 1.0 ba · 1,048 sqft · SingleFamily public records · 76 Days on market

Built 1953 9,931 sqft lot Est $118k · 33% over

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Wow a house for sale under $150k! Check out this cottage style home with a large fenced in yard in North Fort Myers, FL. This home features real hard wood floors throughout the home. The backyard features large area with separate back entrance from Oak St. The large detached garage offers plenty of space for storage or makes for a great workshop! Located just minutes from Downtown Fort Myers. The house next door is also for sale, 1130 River Rd. both make for a great investment to fix up or rent. This one won't last long, schedule your tour today!

Key facts

• Bonus room
• No hoa restrictions
• Spacious lot

Tags

• NO HOA RESTRICTIONS
• SPACIOUS LOT
• DETACHED GARAGE
• BONUS ROOM

Property features AI

Finance

• Other: Property zoned TFC-2; Lot described as regular; landscaped area view; Approximately 0.228 acres; Paved road access
• HOA & community: No HOA maintenance or amenities; Community listed as non-gated; see remarks for details

Exterior

• Parking: Detached 2-car garage; Unpaved driveway; RV/boat parking
• Security: Impact resistant windows
• Utilities: Central water; Septic sewer; Cable available
• Home design: Single-family residential; Traditional style; Single story; Rear exposure facing east; Located in Cabana City development
• Construction: Concrete block and wood frame construction; Elevated structure; Built in 1953
• Exterior features: Extra building on property; Room for a pool; Sliding windows; Impact resistant windows; Vinyl siding exterior; Shingle roof

Interior

• Kitchen: Electric cooktop; Dishwasher; Microwave; Refrigerator / freezer; Refrigerator with icemaker
• Bedrooms: 2 bedrooms (one on the first floor)
• Flooring: Vinyl
• Bathrooms: 1 full bathroom; Master bathroom with shower only
• Heating & cooling: Central electric heat; Central electric cooling
• Interior features: Smoke detectors; Eat-in kitchen; Den / study; Split bedroom floor plan
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $158k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $158k).
• Recommended offer: $148k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 43% 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 $1k of loan paydown is wiped out by about $5k 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 76 days — a 6% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y ago; this cycle's ask has dropped $22k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1953 — expect roof / HVAC / electrical / plumbing capex.
• 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 6→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,426 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.31% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.61%
• DSCR: 1.74
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $118,424
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
83 Oak St	0.07mi	3/2.0	1,004 (-4%)	12mo	$85,000	$85	76
57 Cardinal Dr	0.35mi	2/1.5 (-1)	1,200 (+14%)	3mo	$135,000	$113	50
150 Brooks Rd	0.69mi	2/2.0 (-1)	1,160 (+11%)	0mo	$159,900	$138	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.7%
• Equity multiple: 0.56×
• Total profit: $-19,576
• Equity at exit: $23,543

10-year hold

• IRR: -11.0%
• Equity multiple: 0.45×
• Total profit: $-24,198
• Equity at exit: $13,652

Cash invested: $44,212 (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: 6.4×

Monthly cashflow live

• Estimated rent: $2,063 high
• Mortgage (P&I): −$828
• Tax from tax record: −$124 /mo · $1,487/yr
• Insurance: −$66
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $185

Break-even live

Break-even rent $1,828

Max offer price $157,900

Occupancy floor 86%

Sensitivity live

Price	-10% $275	-5% $230	+0% $185	+5% $141	+10% $96
Rent	-10% $22	-5% $104	+0% $185	+5% $267	+10% $348
Rate	-1.0pp $265	-0.5pp $226	base $185	+0.5pp $144	+1.0pp $103

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: $39,475
• Closing costs: $4,737
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
92 Oak St North Fort Myers, FL	2.0	2.0	1008	$2,000	$1.98	4d	1	0.06mi
3392 N Key Dr North Fort Myers, FL	2.0	2.0	1270	$1,850	$1.46	22d	1	0.35mi
3392 N Key Dr Unit B7 North Fort Myers, FL	2.0	2.0	1200	$1,895	$1.58	11d	1	0.35mi
3345 N Key Dr #47 North Fort Myers, FL	2.0	2.5	1112	$2,150	$1.93	24d	1	0.40mi
3324 N Key Dr #7 North Fort Myers, FL	2.0	1.0	791	$1,495	$1.89	24d	1	0.41mi
3300 N Key Dr Unit 4W North Fort Myers, FL	2.0	2.0	1103	$3,000	$2.72	24d	1	0.42mi
3342 N Key Dr Unit L3 North Fort Myers, FL	2.0	1.0	791	$1,490	$1.88	24d	1	0.43mi
3328 N Key Dr #5 North Fort Myers, FL	2.0	1.0	791	$1,400	$1.77	24d	1	0.43mi
3328 N Key Dr North Fort Myers, FL	2.0	1.0	800	$1,400	$1.75	4d	1	0.44mi
3350 N Key Dr #713 North Fort Myers, FL	3.0	2.0	1207	$2,250	$1.86	4d	1	0.50mi
3350 N Key Dr Unit B911 North Fort Myers, FL	3.0	2.0	1283	$3,800	$2.96	24d	1	0.50mi
3392 N Key Dr #7 North Fort Myers, FL	2.0	2.0	1200	$1,895	$1.58	24d	1	0.55mi
8049 Stillwater Ct North Fort Myers, FL	1.0–2.0	1.0–2.0	720	$1,600	$2.22	24d	1	0.56mi
3460 N Key Dr #210 North Fort Myers, FL	2.0	2.0	1412	$1,795	$1.27	15d	1	0.60mi
3460 N Key Dr #311 North Fort Myers, FL	2.0	2.0	1412	$3,200	$2.27	24d	1	0.60mi
3460 N Key Dr Fort Myers, FL	2.0	2.0	1440	$1,800	$1.25	16d	1	0.60mi
3460 N Key Dr Fort Myers, FL	2.0	2.0	1412	$1,800	$1.27	24d	1	0.60mi
3490 N Key Dr #410 North Fort Myers, FL	2.0	2.0	1412	$3,900	$2.76	24d	1	0.65mi
3490 N Key Dr #511 North Fort Myers, FL	2.0	2.0	1412	$1,650	$1.17	24d	1	0.65mi
3490 N Key Dr #211 North Fort Myers, FL	2.0	2.0	1412	$1,550	$1.10	24d	1	0.65mi
3490 N Key Dr #514 North Fort Myers, FL	2.0	2.0	1103	$1,495	$1.36	24d	1	0.65mi
3462 Hancock Bridge Pkwy #242 North Fort Myers, FL	2.0	2.0	1152	$1,750	$1.52	24d	1	0.69mi
1201 Betmar Blvd North Fort Myers, FL	3.0	2.0	1380	$2,200	$1.59	4d	1	0.72mi
21 Crescent Lake Dr Unit 21 North Fort Myers, FL	2.0	1.0	900	$1,550	$1.72	24d	1	0.75mi
1398 Evalena Ln North Fort Myers, FL	3.0	2.0	1479	$1,849	$1.25	2d	1	0.88mi
112 Crescent Lake Dr North Fort Myers, FL	2.0	1.0	980	$1,700	$1.73	24d	1	0.98mi
69 E Mariana Ave Unit B North Fort Myers, FL	3.0	1.0	1000	$1,795	$1.79	4d	1	1.00mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,575	$1.55	24d	1	1.19mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,550	$1.53	4d	1	1.19mi
1310 Thompson St North Fort Myers, FL	3.0	3.0	1387	$2,800	$2.02	24d	1	1.19mi
1288 Waite Dr North Fort Myers, FL	2.0	2.0	972	$2,200	$2.26	24d	1	1.24mi
1195 Green Ave North Fort Myers, FL	3.0	2.0	1250	$1,850	$1.48	24d	1	1.29mi
1056 Old Bridge Rd North Fort Myers, FL	2.0	1.0	1100	$1,350	$1.23	24d	1	1.31mi
257 Poe Ave North Fort Myers, FL	2.0	1.0	870	$1,175	$1.35	4d	1	1.36mi

Listing history 20 events

1. 2026-06-17
   days on market $157,900 Active 76 DOM
2. 2026-06-16
   days on market $157,900 Active 75 DOM
3. 2026-06-15
   days on market $157,900 Active 74 DOM
4. 2026-06-13
   days on market $157,900 Active 72 DOM
5. 2026-06-10
   days on market $157,900 Active 69 DOM
6. 2026-06-09
   days on market $157,900 Active 68 DOM
7. 2026-06-07
   days on market $157,900 Active 66 DOM
8. 2026-06-03
   days on market $157,900 Active 62 DOM
9. 2026-06-02
   days on market $157,900 Active 61 DOM
10. 2026-06-01
    days on market $157,900 Active 60 DOM
11. 2026-06-01
    days on market $157,900 Active 59 DOM
12. 2026-05-21
    price $157,900
13. 2026-04-13
    price $167,900
14. 2026-04-02
    listed $179,500 Active
15. 2023-11-17
    soldstatus $140,000
16. 2023-11-13
    soldstatus $140,000 Closed 552-char remark

    Show marketing remark (552 chars)

    Wow a house for sale under $150k! Check out this cottage style home with a large fenced in yard in North Fort Myers, FL. This home features real hard wood floors throughout the home. The backyard features large area with separate back entrance from Oak St. The large detached garage offers plenty of space for storage or makes for a great workshop! Located just minutes from Downtown Fort Myers. The house next door is also for sale, 1130 River Rd. both make for a great investment to fix up or rent. This one won't last long, schedule your tour today!

17. 2023-10-03
    status Pending 552-char remark

    Show marketing remark (552 chars)

    Wow a house for sale under $150k! Check out this cottage style home with a large fenced in yard in North Fort Myers, FL. This home features real hard wood floors throughout the home. The backyard features large area with separate back entrance from Oak St. The large detached garage offers plenty of space for storage or makes for a great workshop! Located just minutes from Downtown Fort Myers. The house next door is also for sale, 1130 River Rd. both make for a great investment to fix up or rent. This one won't last long, schedule your tour today!

18. 2023-09-29
    status Active 552-char remark

    Show marketing remark (552 chars)

    Wow a house for sale under $150k! Check out this cottage style home with a large fenced in yard in North Fort Myers, FL. This home features real hard wood floors throughout the home. The backyard features large area with separate back entrance from Oak St. The large detached garage offers plenty of space for storage or makes for a great workshop! Located just minutes from Downtown Fort Myers. The house next door is also for sale, 1130 River Rd. both make for a great investment to fix up or rent. This one won't last long, schedule your tour today!

19. 2023-09-19
    status Pending 552-char remark

    Show marketing remark (552 chars)

    Wow a house for sale under $150k! Check out this cottage style home with a large fenced in yard in North Fort Myers, FL. This home features real hard wood floors throughout the home. The backyard features large area with separate back entrance from Oak St. The large detached garage offers plenty of space for storage or makes for a great workshop! Located just minutes from Downtown Fort Myers. The house next door is also for sale, 1130 River Rd. both make for a great investment to fix up or rent. This one won't last long, schedule your tour today!

20. 2023-08-22
    listed $140,000 Active 552-char remark

    Show marketing remark (552 chars)

    Wow a house for sale under $150k! Check out this cottage style home with a large fenced in yard in North Fort Myers, FL. This home features real hard wood floors throughout the home. The backyard features large area with separate back entrance from Oak St. The large detached garage offers plenty of space for storage or makes for a great workshop! Located just minutes from Downtown Fort Myers. The house next door is also for sale, 1130 River Rd. both make for a great investment to fix up or rent. This one won't last long, schedule your tour today!

ⓘ 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: $1,487 · $124/mo
• Projected year-2 tax: $1,487 · $124/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 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 6 d/yr ≥107°F today · 25 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: $24,754
• − Mortgage interest: −$8,845
• − Property taxes: −$1,487
• − Insurance: −$5,908
• − Repairs & maintenance: −$1,980
• − Management: −$1,980
• − Depreciation: −$4,593
• Taxable loss: −$39
• Est. tax savings @ 24.0%: +$9
• After-tax cash flow: $2,234/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

+12.8% since first listed

9 events — show timeline

• 2026-05-21 Price Changed $157,900 NAPLESMLS
• 2026-04-13 Price Changed $167,900 NAPLESMLS
• 2026-04-02 Listed $179,500 NAPLESMLS
• 2023-11-17 Sold (Public Records) $140,000 Public Records
• 2023-11-13 Sold (MLS) $140,000 FORTMLS
• 2023-10-03 Pending — FORTMLS
• 2023-09-29 Relisted — FORTMLS
• 2023-09-19 Pending — FORTMLS
• 2023-08-22 Listed $140,000 FORTMLS

Property tax history

+9.5%/yr

Latest (2025): $1,487 · -45.2% YoY. Source: county tax records.