606 Pine Grove Ct · North Fort Myers, FL 33917

$129,000

2 bd · 2.0 ba · 1,564 sqft · Manufactured public records · 185 Days on market

Built 1975 5,967 sqft lot Est $186k · 31% under $117/mo HOA · 7% of rent

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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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +8.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Clean and comfortable 2 bed/2 bath double-wide in the desirable Forest Mobile Home Community! This home offers a bright open layout, spacious bedrooms, and an enclosed Florida room for extra living space. Primary suite includes a private bath and ample closet storage. Enjoy a covered carport, storage area, and low-maintenance yard. The Forest is an active community with a clubhouse, pool, and social activities. Great seasonal or full-time home—schedule your showing today!

Key facts

• Low-maintenance yard
• Clubhouse
• Covered carport

Tags

• ENCLOSED FLORIDA ROOM
• COVERED CARPORT
• STORAGE AREA
• LOW-MAINTENANCE YARD
• CLUBHOUSE
• POOL

Property features AI

Finance

• Financial info: Pets allowed with conditions (maximum 2)
• HOA & community: Monthly association fee of $117; Community amenities: clubhouse, pool, bocce court, pickleball, shuffleboard court, putting greens, park, dog park, library, sauna, management

Exterior

• Parking: Attached carport (1 covered space)
• Utilities: Public water; Public sewer; Cable available
• Home design: Single-story property; Resale condition; Faces southwest; Northeast exposure on lot
• Construction: Metal roof; Zoned MH-1
• Exterior features: Open porch; Community pool

Interior

• Kitchen: Cooktop; Dishwasher; Microwave; Range; Refrigerator
• Bedrooms: Single-story home
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast area; Den; Florida room; Other room(s)
• Laundry & utility: Unfurnished

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $129k.

Deal economics

• At list price, monthly cash flow is $-83 ($-998/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (11.4% below list).
• Meets the 1% rule at list price ($2k rent vs $129k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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 rising (+2.6%/yr); 841 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 37% of the median local income ($55k/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 $892 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 185 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $75k; list at $129k implies a 72% gain — meaningful room to come down on a strong offer.

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→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,520 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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.
9. 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.
10. 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: 1.30% ✓
• Cap rate: 9.49%
• Cash-on-cash: 11.41%
• DSCR: 1.51
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $186,116
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5191 Forest Park Dr	0.12mi	2/2.0	1,344 (-14%)	3mo	$85,000	$63	68
406 Twig Ct S	0.17mi	2/2.0	1,344 (-14%)	2mo	$160,000	$119	67
114 Conestoga Trl	0.36mi	2/2.0	1,628 (+4%)	22mo	$204,000	$125	58
333 Shrub Ln S	0.27mi	3/2.0 (+1)	1,496 (-4%)	22mo	$220,000	$147	56
390 Santa Fe Trl	0.39mi	3/2.0 (+1)	1,766 (+13%)	4mo	$190,000	$108	52

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 · 2.63% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.27×
• Total profit: $-26,481
• Equity at exit: $19,234

10-year hold

• IRR: -15.4%
• Equity multiple: 0.14×
• Total profit: $-31,023
• Equity at exit: $11,154

Cash invested: $36,120 (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 33917

• Home prices YoY: -30.2%
• Rents YoY: 2.6%
• Active inventory: 841
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,679 high
• Mortgage (P&I): −$676
• Tax from tax record: −$136 /mo · $1,632/yr
• Insurance: −$54
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$117
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $-83

Break-even live

Break-even rent $1,785

Max offer price $114,303

Occupancy floor 100%

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
137 Lantern Pl Unit A North Fort Myers, FL	2.0	1.0	1080	$1,200	$1.11	3d	1	0.61mi
106 Gaslight Ave North Fort Myers, FL	2.0	2.0	1056	$1,400	$1.33	3d	1	0.62mi
5701 Longleaf Dr North Fort Myers, FL	2.0	2.0	1233	$1,570	$1.27	12d	1	0.64mi
1439 Glick Dr North Fort Myers, FL	3.0	1.0	1134	$1,500	$1.32	2d	1	0.64mi
7622 Peyraud Dr North Fort Myers, FL	3.0	2.0	1404	$1,350	$0.96	24d	1	0.67mi
2500 Gail Helen Ct North Fort Myers, FL	3.0	2.0	1296	$1,500	$1.16	24d	1	0.72mi
5707 Foxlake Dr #2 North Fort Myers, FL	2.0	2.0	1114	$1,500	$1.35	24d	1	0.88mi
15250 Riverbend Blvd #204 North Fort Myers, FL	2.0	2.0	1429	$1,600	$1.12	21d	1	0.96mi
15121 Piping Plover Ct #101 North Fort Myers, FL	3.0	2.5	1583	$1,675	$1.06	24d	1	1.05mi
15121 Piping Plover Ct North Fort Myers, FL	3.0	2.5	1583	$1,675	$1.06	19d	1	1.06mi
15010 Caspian Tern Ct North Fort Myers, FL	3.0	2.5	1583	$1,850	$1.17	24d	1	1.11mi
15011 Caspian Tern Ct #101 North Fort Myers, FL	3.0	2.5	1583	$1,725	$1.09	3d	1	1.11mi
15020 Caspian Tern Ct Unit 103 North Fort Myers, FL	2.0	2.5	1286	$1,600	$1.24	24d	1	1.12mi
6391 Brant Bay Blvd Unit 102 North Fort Myers, FL	3.0	2.5	1502	$1,595	$1.06	3d	1	1.14mi
6391 Brant Bay Blvd #101 North Fort Myers, FL	3.0	2.5	1583	$1,700	$1.07	24d	1	1.14mi
15120 Caspian Tern Ct #105 North Fort Myers, FL	3.0	2.5	1583	$1,695	$1.07	2d	1	1.19mi
15050 Caspian Tern Ct #103 North Fort Myers, FL	2.0	2.5	1365	$1,520	$1.11	24d	1	1.19mi
15120 Caspian Tern Ct North Fort Myers, FL	3.0	2.5	1583	$1,600	$1.01	16d	1	1.19mi
15100 Caspian Tern Ct North Fort Myers, FL	2.0	2.5	1365	$1,595	$1.17	24d	1	1.19mi
15080 Riverbend Blvd #802 North Fort Myers, FL	2.0	2.0	1344	$1,850	$1.38	21d	1	1.19mi
15070 Caspian Tern Ct Unit 105 North Fort Myers, FL	3.0	2.5	1583	$1,750	$1.11	3d	1	1.19mi
5510 Sir Walter Way North Fort Myers, FL	2.0	2.0	1152	$1,800	$1.56	3d	1	1.20mi
5558 Sir Walter Way North Fort Myers, FL	2.0	2.0	1372	$1,095	$0.80	15d	1	1.21mi
15493 Admiralty Cir #5 North Fort Myers, FL	2.0	2.0	1146	$2,400	$2.09	24d	1	1.33mi
4234 Pine Drop Ln North Fort Myers, FL	3.0	2.0	1914	$1,495	$0.78	3d	1	1.38mi
4232 Pine Drop Ln North Fort Myers, FL	3.0	2.0	1914	$1,495	$0.78	3d	1	1.39mi
1398 Evalena Ln North Fort Myers, FL	3.0	2.0	1479	$1,849	$1.25	2d	1	1.39mi
1056 Old Bridge Rd North Fort Myers, FL	2.0	1.0	1100	$1,350	$1.23	24d	1	1.40mi
410 Suwanee Dr North Fort Myers, FL	3.0	2.0	1480	$1,650	$1.11	24d	1	1.48mi
7195 Reymoor Dr North Fort Myers, FL	1.0	1.0	1991	$1,500	$0.75	24d	1	1.49mi
10754 Marlberry Way North Fort Myers, FL	3.0	2.0	1661	$1,900	$1.14	3d	1	1.49mi
10820 Firebush Cir North Fort Myers, FL	3.0	2.0	1661	$1,895	$1.14	3d	1	1.49mi

HOA detail

• Monthly dues: $117 · $1,404/yr
• Likely covers: pool

Listing history 10 events

1. 2026-06-01
   days on market $129,000 Active 185 DOM
2. 2026-06-01
   days on market $129,000 Active 184 DOM
3. 2026-04-11
   price $129,000
4. 2026-02-13
   price $144,000
5. 2026-01-03
   price $149,000
6. 2025-11-28
   listed $159,000 Active
7. 2021-09-02
   soldstatus $75,000
8. 1999-04-23
   soldstatus $56,000
9. 1995-12-08
   soldstatus $43,000
10. 1995-12-01
    soldstatus $43,000

ⓘ 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: $1,632 · $136/mo
• Projected year-2 tax: $1,632 · $136/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 6/10 Major FEMA zone AE · 93% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 29 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: $20,151
• − Mortgage interest: −$7,226
• − Property taxes: −$1,632
• − Insurance: −$5,764
• − Repairs & maintenance: −$1,612
• − Management: −$1,612
• − HOA: −$1,404
• − Depreciation: −$3,753
• Taxable loss: −$2,852
• Est. tax savings @ 24.0%: +$684
• After-tax cash flow: $-314/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): 33,380
• Household income: $55,000
• Rent vs Own: 16.3% rent · 83.7% own
• Severe rent burden: 775.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 10% Two or more races 7% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1% Cuban 3%
• Common ancestry: Lithuanian 3% Romanian 3% Slovak 2%
• Foreign-born: 10% · Canada
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 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: ▼ -122.28%
• Current HPI: 282.2895
• Rent YoY: ▲ 2.63%
• 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

+200.0% since first listed

8 events — show timeline

• 2026-04-11 Price Changed $129,000 FORTMLS
• 2026-02-13 Price Changed $144,000 FORTMLS
• 2026-01-03 Price Changed $149,000 FORTMLS
• 2025-11-28 Listed $159,000 FORTMLS
• 2021-09-02 Sold (Public Records) $75,000 Public Records
• 1999-04-23 Sold (Public Records) $56,000 Public Records
• 1995-12-08 Sold (Public Records) $43,000 Public Records
• 1995-12-01 Sold (Public Records) $43,000 Public Records

Property tax history

+19.4%/yr

Latest (2025): $1,632 · -22.0% YoY. Source: county tax records.