20 Ligonier Dr · North Fort Myers, FL 33903

$25,000

2 bd · 2.0 ba · 1,200 sqft · SingleFamily · 274 Days on market

↓ 29% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

* * * * NEED TO SELL ASAP * * * * Fully furnished 2 bed/2 bath doublewide in 55+ park in North Fort Myers. Large screened in lanai, double parking carport with small shed. NEW interior electric panel installed in the last 6 months ($2,500). New central AC/heat system approx. 2 years ago. Extra large living room and master bedroom areas. Fully furnished to include contents of kitchen cabinets/drawers (pots, pans, dishes, etc. ). Move in ready and open to offers. Lot rent is $750/month and includes lawn maintenance and weekly trash pick up. * * * WILLING TO HEAR ANY OFFERS * * *

Key facts

• Small shed
• Screened in lanai
• Listed 274 days

Tags

• SCREENED IN LANAI
• DOUBLE PARKING CARPORT
• SMALL SHED
• INTERIOR ELECTRIC PANEL
• CENTRAL AC HEAT SYSTEM

🏷️ Possibly a rental listed for sale. The $25,000 price doesn't fit this home's estimated sale value (~$292,800) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.
• Cap rate 70.2% 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; 40 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 40% 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 $173 of loan paydown is wiped out by about $750 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 274 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.

Recommended offer $22,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 274 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 7.61% ✓
• Cap rate: 70.16%
• Cash-on-cash: 228.09%
• DSCR: 11.15
• GRM: 1.1

CMA / ARV

• ARV (on-the-fly): $292,800
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
57 Cardinal Dr	0.32mi	2/1.5	1,200 (0%)	3mo	$135,000	$113	80
150 Brooks Rd	0.50mi	2/2.0	1,160 (-3%)	0mo	$159,900	$138	71
1329 Sunrise Dr	0.65mi	3/2.0 (+1)	1,248 (+4%)	23mo	$305,000	$244	39
400 E North Shore Dr	0.74mi	3/2.0 (+1)	1,282 (+7%)	13mo	$340,000	$265	38

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: —
• Equity multiple: 11.73×
• Total profit: $75,143
• Equity at exit: $3,728

10-year hold

• IRR: —
• Equity multiple: 22.87×
• Total profit: $153,117
• Equity at exit: $2,162

Cash invested: $7,000 (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: 1.1×

Monthly cashflow live

• Estimated rent: $1,903 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $1,331

Break-even live

Break-even rent $219

Max offer price $25,000

Occupancy floor 25%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 40 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	3d	1	0.35mi
1526 Wood Rd North Fort Myers, FL	1.0	1.0	912	$1,500	$1.64	3d	1	0.42mi
21 Crescent Lake Dr Unit 21 North Fort Myers, FL	2.0	1.0	900	$1,550	$1.72	23d	1	0.42mi
8049 Stillwater Ct North Fort Myers, FL	1.0–2.0	1.0–2.0	720	$1,600	$2.22	23d	1	0.63mi
112 Crescent Lake Dr North Fort Myers, FL	2.0	1.0	980	$1,700	$1.73	23d	1	0.65mi
1201 Betmar Blvd North Fort Myers, FL	3.0	2.0	1380	$2,200	$1.59	3d	1	0.67mi
69 E Mariana Ave Unit B North Fort Myers, FL	3.0	1.0	1000	$1,795	$1.79	3d	1	0.68mi
1398 Evalena Ln North Fort Myers, FL	3.0	2.0	1479	$1,849	$1.25	2d	1	0.68mi
3345 N Key Dr #47 North Fort Myers, FL	2.0	2.5	1112	$2,150	$1.93	23d	1	0.69mi
3392 N Key Dr North Fort Myers, FL	2.0	2.0	1270	$1,850	$1.46	21d	1	0.69mi
3392 N Key Dr Unit B7 North Fort Myers, FL	2.0	2.0	1200	$1,895	$1.58	10d	1	0.69mi
3324 N Key Dr #7 North Fort Myers, FL	2.0	1.0	791	$1,495	$1.89	23d	1	0.73mi
3342 N Key Dr Unit L3 North Fort Myers, FL	2.0	1.0	791	$1,490	$1.88	23d	1	0.74mi
3300 N Key Dr Unit 4W North Fort Myers, FL	2.0	2.0	1103	$3,000	$2.72	23d	1	0.75mi
3328 N Key Dr #5 North Fort Myers, FL	2.0	1.0	791	$1,400	$1.77	23d	1	0.75mi
3328 N Key Dr North Fort Myers, FL	2.0	1.0	800	$1,400	$1.75	3d	1	0.76mi
3350 N Key Dr #713 North Fort Myers, FL	3.0	2.0	1207	$2,250	$1.86	3d	1	0.79mi
3350 N Key Dr Unit B911 North Fort Myers, FL	3.0	2.0	1283	$3,800	$2.96	23d	1	0.79mi
3392 N Key Dr #7 North Fort Myers, FL	2.0	2.0	1200	$1,895	$1.58	23d	1	0.82mi
3462 Hancock Bridge Pkwy #242 North Fort Myers, FL	2.0	2.0	1152	$1,750	$1.52	23d	1	0.84mi
3460 N Key Dr #203 North Fort Myers, FL	1.0	1.5	840	$3,250	$3.87	23d	1	0.86mi
3460 N Key Dr #210 North Fort Myers, FL	2.0	2.0	1412	$1,795	$1.27	14d	1	0.86mi
3460 N Key Dr #311 North Fort Myers, FL	2.0	2.0	1412	$3,200	$2.27	23d	1	0.86mi
3460 N Key Dr Fort Myers, FL	2.0	2.0	1412	$1,800	$1.27	23d	1	0.87mi
3460 N Key Dr Fort Myers, FL	2.0	2.0	1440	$1,800	$1.25	16d	1	0.87mi
3490 N Key Dr #514 North Fort Myers, FL	2.0	2.0	1103	$1,495	$1.36	23d	1	0.90mi
3490 N Key Dr #203 North Fort Myers, FL	1.0	1.5	840	$1,300	$1.55	23d	1	0.90mi
3490 N Key Dr #211 North Fort Myers, FL	2.0	2.0	1412	$1,550	$1.10	23d	1	0.90mi
3490 N Key Dr #511 North Fort Myers, FL	2.0	2.0	1412	$1,650	$1.17	23d	1	0.90mi
3490 N Key Dr #410 North Fort Myers, FL	2.0	2.0	1412	$3,900	$2.76	23d	1	0.90mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,550	$1.53	3d	1	0.95mi
1275 Gramac Dr North Fort Myers, FL	3.0	2.0	1013	$1,575	$1.55	23d	1	0.95mi
1310 Thompson St North Fort Myers, FL	3.0	3.0	1387	$2,800	$2.02	23d	1	1.04mi
1260 Joerin Ave North Fort Myers, FL	1.0	1.0	936	$1,105	$1.18	23d	1	1.08mi
1288 Waite Dr North Fort Myers, FL	2.0	2.0	972	$2,200	$2.26	23d	1	1.12mi
257 Poe Ave North Fort Myers, FL	2.0	1.0	870	$1,175	$1.35	3d	1	1.17mi
1846 Powell Dr Unit 28 North Fort Myers, FL	1.0	1.0	850	$1,500	$1.76	3d	1	1.18mi
1056 Old Bridge Rd North Fort Myers, FL	2.0	1.0	1100	$1,350	$1.23	23d	1	1.22mi
1195 Green Ave North Fort Myers, FL	3.0	2.0	1250	$1,850	$1.48	23d	1	1.23mi
446 San Bernardino St North Fort Myers, FL	2.0	1.0	1104	$1,590	$1.44	10d	1	1.29mi

Listing history 10 events

1. 2026-06-17
   days on market $25,000 Active 274 DOM
2. 2026-06-16
   days on market $25,000 Active 273 DOM
3. 2026-06-16
   days on market $25,000 Active 272 DOM
4. 2026-06-13
   days on market $25,000 Active 270 DOM
5. 2026-06-09
   days on market $25,000 Active 266 DOM
6. 2026-06-07
   days on market $25,000 Active 264 DOM
7. 2026-06-01
   days on market $25,000 Active 258 DOM
8. 2026-06-01
   days on market $25,000 Active 257 DOM
9. 2025-09-24
   price $25,000
10. 2025-09-16
    listed $35,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,835
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − Depreciation: −$727
• Taxable income: $16,554
• Est. tax owed @ 24.0%: −$3,973
• After-tax cash flow: $11,993/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

-28.6% since first listed

2 events — show timeline

• 2025-09-24 Price Changed $25,000 ForSaleByOwner.com
• 2025-09-16 Listed $35,000 ForSaleByOwner.com