3564 Celestial Way · North Fort Myers, FL 33903

$139,900

2 bd · 2.0 ba · 995 sqft · Manufactured public records · 47 Days on market

Built 1983 4,399 sqft lot Est $100k · 41% over $223/mo HOA · 13% of rent

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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 +21.2/30.0
• 1% rule +6.9/10.0
• DSCR +6.8/10.0
• 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

Welcome to Tamiami Village & RV Park, a highly sought-after 55+ manufactured home community in North Fort Myers known for its active lifestyle and friendly atmosphere. Conveniently located near downtown Fort Myers offering shopping, dining, entertainment, Art Walk, and Music Walk, and just a short drive to Punta Gorda’s Fishermen’s Village for waterfront dining, boutique shopping, nightlife, and sunset cruises. This well-maintained 2-bedroom, 2-bath home features numerous updates including a new A/C (2024), exterior electrical panel (2016), aluminium pan roof-over (2016), and nine new windows (2016). Floors and subfloors are in good condition. Golf cart included The hom

Key facts

• Move-in ready
• Community pools
• 4,399 sq ft lot

Tags

• MANUFACTURED HOME COMMUNITY
• NEAR DOWNTOWN FORT MYERS
• COMMUNITY POOLS
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $140k.

Deal economics

• At list price, monthly cash flow is $203 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 35% 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 $967 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 47 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 14y 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.
• Current owner paid $56k; list at $140k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,703 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% 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. 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 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: 1.19% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.21%
• DSCR: 1.28
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $99,500
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
16034 Citron Way	0.10mi	2/2.0	960 (-4%)	7mo	$125,000	$130	84
16041 Citron Way	0.13mi	2/2.0	960 (-4%)	6mo	$92,000	$96	83
3541 Celestial Way	0.06mi	2/2.0	864 (-13%)	7mo	$50,000	$58	69
3204 Pluto Cir	0.17mi	2/2.0	1,104 (+11%)	7mo	$110,000	$100	68
3500 Celestial Way	0.15mi	2/2.0	1,100 (+11%)	24mo	$85,000	$77	55
612 Sunrise Ave	0.58mi	2/2.0	1,049 (+5%)	13mo	$173,000	$165	53
486 Horizon Dr	0.58mi	2/2.0	1,080 (+8%)	13mo	$110,000	$102	48

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: -10.5%
• Equity multiple: 0.63×
• Total profit: $-14,527
• Equity at exit: $20,860

10-year hold

• IRR: -6.8%
• Equity multiple: 0.63×
• Total profit: $-14,409
• Equity at exit: $12,096

Cash invested: $39,172 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,663 high
• Mortgage (P&I): −$734
• Tax from tax record: −$96 /mo · $1,155/yr
• Insurance: −$58
• HOA: −$223
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $203

Break-even live

Break-even rent $1,407

Max offer price $139,900

Occupancy floor 83%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3404 Rainbow Ln North Fort Myers, FL	2.0	2.0	1056	$1,800	$1.70	3d	1	0.01mi
28 Nyborg Ave North Fort Myers, FL	3.0	2.0	1042	$1,299	$1.25	14d	1	0.42mi
8791 Littleton Rd North Fort Myers, FL	2.0	2.0	1074	$1,549	$1.44	23d	1	0.68mi
571 Sunrise Ln North Fort Myers, FL	2.0	2.0	1004	$1,400	$1.39	23d	1	0.72mi
2774 Wedgewood Dr North Fort Myers, FL	2.0	2.0	880	$1,300	$1.48	23d	1	0.83mi
4120 Pine Drop Ln North Fort Myers, FL	3.0	2.0	957	$1,895	$1.98	23d	1	1.06mi
3260 Stockton St North Fort Myers, FL	3.0	1.0–2.0	976	$2,371	$2.43	1d	27	1.17mi
3953 Pomodoro Cir Cape Coral, FL	1.0–3.0	1.0–2.0	1044	$1,462	$1.40	14d	9	1.17mi
3940 Villa Del Mar CIR Cape Coral, FL	1.0–3.0	1.0–2.0	1051	$2,116	$2.01	1d	21	1.23mi
2700 Diplomat Pkwy E Cape Coral, FL	1.0–3.0	1.0–2.0	1116	$2,382	$2.13	3d	41	1.27mi
2095 Eloise Cir North Fort Myers, FL	2.0	1.0	840	$1,295	$1.54	23d	1	1.28mi
2027 Eloise Cir North Fort Myers, FL	2.0	1.0	822	$1,300	$1.58	3d	1	1.30mi
538 State St North Fort Myers, FL	3.0	1.5	1000	$1,199	$1.20	23d	1	1.34mi
260 Stockton St North Fort Myers, FL	2.0	2.0	924	$1,200	$1.30	3d	1	1.42mi
16363 Teresa Ln North Fort Myers, FL	2.0	1.0	1000	$1,000	$1.00	23d	1	1.42mi
248 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,300	$1.41	23d	1	1.43mi
247 Stockton St North Fort Myers, FL	3.0	2.0	924	$1,325	$1.43	23d	1	1.44mi

HOA detail

• Monthly dues: $223 · $2,676/yr
• Likely covers: waterelectric

Listing history 7 events

1. 2026-03-31
   status Pending
2. 2026-02-12
   listed $139,900 Active
3. 2015-04-13
   soldstatus $56,500
4. 2012-12-05
   listed $59,700
5. 2001-04-04
   soldstatus $40,000
6. 1982-01-01
   soldstatus $8,000
7. 1978-11-01
   soldstatus $2,410,200

ⓘ 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: $1,155 · $96/mo
• Projected year-2 tax: $1,161 · $97/mo
• Expected delta: +$6/yr ($0/mo · 0.5%)

ⓘ 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 10/10 Extreme 7 d/yr ≥107°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: $19,956
• − Mortgage interest: −$7,837
• − Property taxes: −$1,155
• − Insurance: −$700
• − Repairs & maintenance: −$1,596
• − Management: −$1,596
• − HOA: −$2,676
• − Depreciation: −$4,070
• Taxable income: $326
• Est. tax owed @ 24.0%: −$78
• After-tax cash flow: $2,353/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

-94.2% since first listed

7 events — show timeline

• 2026-03-31 Pending — FORTMLS
• 2026-02-12 Listed $139,900 FORTMLS
• 2015-04-13 Sold (Public Records) $56,500 Public Records
• 2012-12-05 Listed $59,700 NAPLESMLS
• 2001-04-04 Sold (Public Records) $40,000 Public Records
• 1982-01-01 Sold (Public Records) $8,000 Public Records
• 1978-11-01 Sold (Public Records) $2,410,200 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,155 · -6.2% YoY. Source: county tax records.