72 Kiowa Drive Plan · Iona, FL 33931

$204,995

2 bd · 2.0 ba · 1,500 sqft · Manufactured · 219 Days on market

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This brand new Champion home is now available. This large 2 bedroom 2 bath home boasts approx. 1,400 sq. ft. and has a beautiful open floor plan. KI72 has a large primary bedroom with ensuite bath with a walk in closet, while the kitchen offers a large island kitchen which opens into a spacious living room area perfect for entertaining. Call today or stop by to see this beautiful new home!

Key facts

• Listed 219 days

Property features AI

Finance

• Financial info: List price $204,995

Exterior

• Home design: Single-family plan (72 Kiowa Drive); Located in Fort Myers Beach, FL
• Exterior features: Living area approximately 1,500

Interior

• Bedrooms: 2 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home (new construction plan named "72 Kiowa Drive")

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $205k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $205k).
• Recommended offer: $180k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.2% vs local median 2.1% in Iona — 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 72/100 on livability (#359 in FL) — a middle-class / working-renter tenant base. Strengths: crime A+, housing A, health & safety A; Watch: 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.
• Zoned schools: Heights Elementary School (math 74% / reading 67%, grade A-, #333 of 2,144 statewide, top 16%, 1,109 students, 38% FRL); Lexington Middle School (math 55% / reading 54%, grade B-, #183 of 571 statewide, top 34%, 1,138 students, 44% FRL); South Fort Myers High School (math 23% / reading 30%, grade F, #489 of 667 statewide, top 74%, 1,917 students, 50% FRL).
• Market conditions: 878 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 15,411 units permitted in Lee County in 2024 (4,686 in 5+ unit buildings).
• At $3,280/mo this rent would consume 50% of the median local household income ($79k/yr) (locally 145% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 + 3.0% rent growth), your $57k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 219 days — a 12% lower offer ($180k) is reasonable based on typical stale-listing flexibility.

Recommended offer $180,395 (12.0% below list)

Questions for the listing agent

1. It's been on market 219 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.60% ✓
• Cap rate: 13.17%
• Cash-on-cash: 24.56%
• DSCR: 2.09
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $433,500
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
17561 Bryan Ct	0.41mi	2/2.0	1,296 (-14%)	4mo	$375,000	$289	55
17920 Peppard Dr	0.68mi	3/2.0 (+1)	1,679 (+12%)	17mo	$225,000	$134	30

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 17.9%
• Equity multiple: 1.73×
• Total profit: $41,656
• Equity at exit: $30,565

10-year hold

• IRR: 26.4%
• Equity multiple: 3.31×
• Total profit: $132,822
• Equity at exit: $17,724

Cash invested: $57,399 (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 33931

• Home prices YoY: -18.8%
• Active inventory: 878
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,280 high
• Mortgage (P&I): −$1,075
• Tax est. 1.5%: −$256 /mo · $3,075/yr
• Insurance: −$85
• HOA: −$0
• Vacancy / Maint / Mgmt: −$689
• Net cashflow: $1,175

Break-even live

Break-even rent $1,793

Max offer price $204,995

Occupancy floor 59%

Sensitivity live

Price	-10% $1,316	-5% $1,246	+0% $1,175	+5% $1,104	+10% $1,033
Rent	-10% $916	-5% $1,045	+0% $1,175	+5% $1,304	+10% $1,434
Rate	-1.0pp $1,278	-0.5pp $1,227	base $1,175	+0.5pp $1,122	+1.0pp $1,068

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: $51,249
• Closing costs: $6,150
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11390 Bayside Blvd Fort Myers Beach, FL	3.0	2.0	2087	$2,500	$1.20	25d	1	0.17mi
17220 Whitewater Ct Fort Myers Beach, FL	2.0	1.5	1103	$1,800	$1.63	25d	1	0.30mi
158 Nanaimo Trl Fort Myers Beach, FL	2.0	2.0	1200	$6,570	$5.47	25d	1	0.32mi
11451 Char Ann Dr Fort Myers, FL	2.0	1.0	1300	$1,950	$1.50	3d	1	0.40mi
11110 Caravel Cir #201 Fort Myers, FL	2.0	2.0	1050	$3,500	$3.33	25d	1	0.66mi
11140 Caravel Cir #109 Fort Myers, FL	2.0	2.0	1050	$4,200	$4.00	25d	1	0.70mi
11540 Caravel Cir #3012 Fort Myers, FL	2.0	2.0	1050	$1,250	$1.19	23d	1	0.75mi
16500 Kelly Cove Dr #2880 Fort Myers, FL	2.0	2.0	1283	$4,800	$3.74	25d	1	0.84mi
16470 Kelly Cove Dr #2850 Fort Myers, FL	2.0	2.0	1216	$5,000	$4.11	25d	1	0.88mi
16470 Kelly Cove Dr Fort Myers, FL	2.0	2.0	1214	$3,550	$2.92	5d	2	0.88mi
12150 Kelly Sands Way Fort Myers, FL	2.0	2.0	1087	$3,325	$3.06	5d	3	0.92mi
12150 Kelly Sands Way Fort Myers, FL	2.0	2.0	1087	$4,700	$4.32	25d	2	0.92mi
12250 Kelly Greens Blvd #57 Fort Myers, FL	2.0	2.0	1336	$1,999	$1.50	25d	1	0.92mi
11041 Gulf Reflections Dr #305 Fort Myers, FL	2.0	2.0	1500	$1,800	$1.20	25d	1	0.92mi
11021 Gulf Reflections Dr Fort Myers, FL	2.0–3.0	2.0	1674	$2,600	$1.55	25d	2	0.93mi
11021 Gulf Reflections Dr #303 Fort Myers, FL	2.0	2.0	1500	$4,200	$2.80	5d	1	0.93mi
11861 Caraway Ln #116 Fort Myers, FL	2.0	2.0	1056	$1,995	$1.89	21d	1	0.93mi
16685 Lake Circle Dr Fort Myers, FL	2.0	2.0	1228	$2,000	$1.63	25d	2	0.96mi
18014 San Carlos Blvd #44 Fort Myers Beach, FL	2.0	2.5	1101	$1,995	$1.81	13d	1	0.98mi
16625 Lake Circle Dr #523 Fort Myers, FL	2.0	2.0	1154	$2,100	$1.82	25d	1	0.98mi
12171 Kelly Sands Way #1577 Fort Myers, FL	2.0	2.0	1160	$4,500	$3.88	25d	1	1.01mi
16635 Lake Circle Dr Fort Myers, FL	2.0	2.0	1277	$2,150	$1.68	17d	2	1.03mi
16645 Lake Circle Dr #732 Fort Myers, FL	2.0	2.0	1154	$4,000	$3.47	25d	1	1.03mi
12621 Kelly Sands Way #305 Fort Myers, FL	2.0	2.0	1106	$5,000	$4.52	25d	1	1.17mi
12540 Kelly Greens Blvd #331 Fort Myers, FL	2.0	2.0	1440	$2,100	$1.46	25d	1	1.19mi
12396 Kelly Sands Way Fort Myers, FL	2.0	2.0	1511	$2,800	$1.85	25d	1	1.19mi
12641 Kelly Sands Way #225 Fort Myers, FL	2.0	2.0	1069	$5,000	$4.68	25d	1	1.20mi
16301 Kelly Woods Dr #205 Fort Myers, FL	2.0	2.0	1336	$5,000	$3.74	25d	1	1.26mi
18068 San Carlos Blvd #514 Fort Myers Beach, FL	2.0	2.5	1180	$3,500	$2.97	15d	1	1.26mi
16120 Dublin Cir Unit A Fort Myers, FL	2.0	2.0	1517	$1,550	$1.02	25d	1	1.33mi
16252 Kelly Woods Dr Fort Myers, FL	2.0	2.0	1515	$6,000	$3.96	25d	1	1.35mi
16001 Amberwood Lake Ct #1 Fort Myers, FL	2.0	2.5	1060	$2,100	$1.98	25d	1	1.38mi
11601 Navarro Way #2102 Fort Myers, FL	2.0	2.0	1378	$4,500	$3.27	25d	1	1.46mi
15773 Beachcomber Ave Unit 1264830P Fort Myers, FL	3.0	2.0	1496	$3,133	$2.09	15d	1	1.46mi
11701 Olivetti Ln Unit 1545836P Fort Myers, FL	3.0	2.0	1388	$4,214	$3.04	15d	1	1.47mi
11701 Olivetti Ln Unit 210 Fort Myers, FL	2.0	2.0	1305	$4,500	$3.45	25d	1	1.48mi

Listing history 9 events

1. 2026-06-22
   days on market $204,995 Active 219 DOM
2. 2026-06-17
   days on market $204,995 Active 215 DOM
3. 2026-06-16
   days on market $204,995 Active 214 DOM
4. 2026-06-16
   days on market $204,995 Active 213 DOM
5. 2026-06-13
   days on market $204,995 Active 211 DOM
6. 2026-06-09
   days on market $204,995 Active 207 DOM
7. 2026-06-07
   days on market $204,995 Active 205 DOM
8. 2026-06-01
   days on market $204,995 Active 199 DOM
9. 2026-06-01
   days on market $204,995 Active 198 DOM

ⓘ 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: $39,364
• − Mortgage interest: −$11,483
• − Property taxes: −$3,075
• − Insurance: −$1,025
• − Repairs & maintenance: −$3,149
• − Management: −$3,149
• − Depreciation: −$5,963
• Taxable income: $11,520
• Est. tax owed @ 24.0%: −$2,765
• After-tax cash flow: $11,333/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 — Iona

• Score: 72/100
• State rank: #359
• US rank: #6253

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Lee County · 788,662 people
• Metro: Cape Coral-Fort Myers, FL
• Population (ZIP): 8,350
• Household income: $79,018
• Rent vs Own: 10.7% rent · 89.3% own
• Severe rent burden: 145.0

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 (94%)
• Race & ethnicity: White 94% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 5% Portuguese 3% Lithuanian 3%
• Foreign-born: 5% · Canada
• Languages at home: 94% English-only · Spanish 2% German/W. Germanic 1% French/Haitian/Cajun 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: ▼ -194.12%
• Current HPI: 837.37
• Rent YoY: —
• 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