365 Clark St · Palmona Park, FL 33903

$117,999

3 bd · 1.0 ba · 968 sqft · SingleFamily public records · 89 Days on market

Built 1945 10,001 sqft lot Est $184k · 36% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.3/10.0
• Schools +4.1/10.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity! Fixer-upper on a double lot. Home features 2-bedrooms plus a den with 1 bathroom, located in Palmona Park, close to shopping, dining and more. Home is in need of a complete renovation including floors. Plenty of space for potential growth.

Key facts

• Complete renovation
• Double lot
• 0.23 acre lot

Tags

• DOUBLE LOT
• COMPLETE RENOVATION
• SPACE FOR POTENTIAL GROWTH

Property features AI

Finance

• Other: Lot dimensions approximately 100 x 100; Lot size about 0.2296 acres; Zoning: TFC2
• Financial info: Pets allowed
• HOA & community: No HOA fees reported

Exterior

• Parking: No parking details reported
• Security: No security features reported
• Utilities: Cable available; Public water; Septic tank sewer
• Home design: Single-story property; Faces north; Resale property
• Construction: Vinyl siding; Wood frame construction; Metal roof; Rolled/hot mop roof
• Exterior features: Room for a pool; Oversized lot; South exposure

Interior

• Kitchen: No kitchen appliances or features reported
• Bedrooms: No bedroom details provided
• Flooring: No flooring details reported
• Bathrooms: 1 full bathroom
• Heating & cooling: No heating or cooling details reported
• Interior features: Unfurnished; No notable interior features reported
• Laundry & utility: No laundry details reported

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $388 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $118k).
• Recommended offer: $111k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#875 in FL) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, health & safety A; Watch: amenities F, commute F, employment 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.
• Zoned schools: Diplomat Elementary School (math 67% / reading 60%, grade B, #564 of 2,144 statewide, top 27%, 1,069 students, 56% FRL); Mariner Middle School (math 50% / reading 47%, grade C-, #274 of 571 statewide, top 50%, 1,001 students, 53% FRL); Ida S. Baker High School (math 44% / reading 47%, grade D-, #223 of 667 statewide, top 34%, 1,933 students, 39% FRL).
• Market conditions: Rents soft (-1.9%/yr); 477 active listings in the ZIP; 21 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 36% 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 $816 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.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 2y ago; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; list at $118k implies a 293% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,919 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 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 1945 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.43% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.63%
• DSCR: 1.83
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $183,920
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
239 State St	0.16mi	3/2.0	1,038 (+7%)	4mo	$197,000	$190	73
195 Jane St	0.37mi	2/2.0 (-1)	1,102 (+14%)	10mo	$160,000	$145	42

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: 0.6%
• Equity multiple: 1.02×
• Total profit: $728
• Equity at exit: $17,594

10-year hold

• IRR: 6.5%
• Equity multiple: 1.42×
• Total profit: $13,725
• Equity at exit: $10,202

Cash invested: $33,040 (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: 477
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,690 high
• Mortgage (P&I): −$619
• Tax from tax record: −$154 /mo · $1,850/yr
• Insurance: −$49
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $388

Break-even live

Break-even rent $1,199

Max offer price $117,999

Occupancy floor 72%

Sensitivity live

Price	-10% $455	-5% $421	+0% $388	+5% $354	+10% $321
Rent	-10% $254	-5% $321	+0% $388	+5% $454	+10% $521
Rate	-1.0pp $447	-0.5pp $418	base $388	+0.5pp $357	+1.0pp $326

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: $29,500
• Closing costs: $3,540
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
446 San Bernardino St North Fort Myers, FL	2.0	1.0	1104	$1,590	$1.44	12d	1	0.14mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	5d	1	0.19mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	25d	1	0.20mi
538 State St North Fort Myers, FL	3.0	1.5	1000	$1,199	$1.20	25d	1	0.20mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	25d	1	0.22mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,823	$2.89	3d	27	0.47mi
3050 Steeple Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1003	$2,010	$2.00	4d	27	0.77mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	25d	1	0.88mi
112 Crescent Lake Dr North Fort Myers, FL	2.0	1.0	980	$1,700	$1.73	25d	1	0.94mi
2700 Diplomat Pkwy E Cape Coral, FL	1.0–3.0	1.0–2.0	1116	$2,970	$2.66	5d	41	1.04mi
69 E Mariana Ave Unit B North Fort Myers, FL	3.0	1.0	1000	$1,795	$1.79	5d	1	1.04mi
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	16d	1	1.05mi
21 Crescent Lake Dr Unit 21 North Fort Myers, FL	2.0	1.0	900	$1,550	$1.72	25d	1	1.06mi
947 Strongbox Ln North Fort Myers, FL	2.0	2.0	1000	$1,300	$1.30	25d	1	1.13mi
1288 Waite Dr North Fort Myers, FL	2.0	2.0	972	$2,200	$2.26	25d	1	1.16mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,550	$1.53	5d	1	1.41mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,575	$1.55	25d	1	1.41mi
16363 Teresa Ln North Fort Myers, FL	2.0	1.0	1000	$1,000	$1.00	25d	1	1.42mi
750 Pondella Rd North Fort Myers, FL	2.0–3.0	1.0–2.0	1200	$1,299	$1.08	3d	6	1.42mi
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	5d	1	1.47mi
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	25d	1	1.49mi

Listing history 26 events

1. 2026-06-13
   statusdays on market $117,999 Pending 89 DOM
2. 2026-06-10
   days on market $117,999 Active 87 DOM
3. 2026-06-09
   days on market $117,999 Active 86 DOM
4. 2026-06-07
   days on market $117,999 Active 84 DOM
5. 2026-06-03
   days on market $117,999 Active 80 DOM
6. 2026-06-02
   days on market $117,999 Active 79 DOM
7. 2026-06-01
   days on market $117,999 Active 78 DOM
8. 2026-06-01
   days on market $117,999 Active 77 DOM
9. 2026-05-09
   status Active
10. 2026-04-22
    status Pending
11. 2026-04-21
    status Active
12. 2026-04-20
    status Pending
13. 2026-04-14
    price $117,999
14. 2026-03-20
    status Active
15. 2026-03-13
    status Pending
16. 2026-02-18
    listed $125,000 Active
17. 2025-09-26
    historical
18. 2025-08-05
    price $120,000
19. 2025-08-04
    status Active
20. 2025-07-29
    status Pending
21. 2025-07-03
    listed $165,000 Active
22. 2024-08-23
    historical
23. 2024-08-20
    price $179,900
24. 2024-07-31
    listed $199,900 Active
25. 2005-05-25
    soldstatus $30,000
26. 2005-04-21
    price $50,000

ⓘ 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: $1,850 · $154/mo
• Projected year-2 tax: $1,850 · $154/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 A · 13% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥106°F today · 27 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: $20,280
• − Mortgage interest: −$6,610
• − Property taxes: −$1,850
• − Insurance: −$2,092
• − Repairs & maintenance: −$1,622
• − Management: −$1,622
• − Depreciation: −$3,433
• Taxable income: $3,050
• Est. tax owed @ 24.0%: −$732
• After-tax cash flow: $3,921/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 — Palmona Park

• Score: 55/100
• State rank: #875
• US rank: #23153

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Palmona Park, FL
• County: Lee County · 788,662 people
• 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

+136.0% since first listed

18 events — show timeline

• 2026-05-09 Relisted — FORTMLS
• 2026-04-22 Pending — FORTMLS
• 2026-04-21 Relisted — FORTMLS
• 2026-04-20 Pending — FORTMLS
• 2026-04-14 Price Changed $117,999 FORTMLS
• 2026-03-20 Relisted — FORTMLS
• 2026-03-13 Pending — FORTMLS
• 2026-02-18 Listed $125,000 FORTMLS
• 2025-09-26 Listing Removed — FORTMLS
• 2025-08-05 Price Changed $120,000 FORTMLS
• 2025-08-04 Relisted — FORTMLS
• 2025-07-29 Pending — FORTMLS
• 2025-07-03 Listed $165,000 FORTMLS
• 2024-08-23 Listing Removed — FORTMLS
• 2024-08-20 Price Changed $179,900 FORTMLS
• 2024-07-31 Listed $199,900 FORTMLS
• 2005-05-25 Sold (MLS) $30,000 FORTMLS
• 2005-04-21 Price Changed $50,000 FORTMLS

Property tax history

+10.7%/yr

Latest (2025): $1,850 · -35.8% YoY. Source: county tax records.